• The Reuters news agency reported a major crash in Ukraine’s international bonds after the public clash between US President Donald Trump and Ukrainian President Volodymyr Zelenskyy.

Politics and diplomacy

• Ukrainian Prime Minister Denys Shmygal has announced that his country was ready to sign a planned deal on extracting strategically important minerals with the US “at any time” after Washington said it was suspending military support.
• Shmygal also said that security guarantees from the US were of existential importance for both Ukraine and Europe, hours after Washington announced it was suspending military support to the war-torn country.
• Ukraine should automatically become a NATO member if Russia breaches any ceasefire deal, Finnish President Alexander Stubb said, echoing an influential US Republican Senator Lindsey Graham.
• France’s economy minister Eric Lombard voiced opposition to seizing Russian assets to fund European military spending, saying such assets cannot be seized as it “would be contrary to international agreements.”
• The Kremlin said the next round of Russia-US talks on ending the invasion of Ukraine is unlikely to happen before the embassies of both countries resume normal operations.
• AFP quoted Zelenskyy as saying that it would “not be simple” to replace him as Kyiv’s leader. However, he reiterated his willingness to step down in exchange for Ukraine’s entry into NATO as a member country.
• The United Kingdom’s armed forces minister, Luke Pollard, told Times Radio that no agreement has been made on what a truce would look like in Ukraine. AFP also reported, citing a government source, that “a one-month truce has not been agreed”.
• A spokesperson for the UK’s prime minister, Keir Starmer, said the European countries were looking at several options to end Russia’s war against Ukraine. However, the spokesperson did not provide details on these options.
• Kremlin spokesman Dmitry Peskov criticised the London security summit and said the pledges made by European leaders to increase funding for Kyiv would only allow hostilities to continue, instead of contributing to a peaceful resolution of the conflict.
• Peskov also said the Oval Office fight between Trump and Zelenskyy shows how challenging it would be to reach a settlement with Ukraine. Accusing Zelenskyy of not wanting peace and demonstrating “a complete lack of diplomatic abilities”, Peskov said, “someone should make him want peace.”
• Zelenskyy told UK media that a ceasefire without security guarantees would not bring a sustainable end to Russia’s invasion of his country. “It will be a failure for everyone if Ukraine is forced into a ceasefire without serious security guarantees,” he said.
• Ukraine’s Energy Minister German Galushchenko sent a letter to the International Atomic Energy Agency’s chief Rafael Grossi, calling on the IAEA to comply with Ukraine’s laws. Galushchenko’s letter reminded the agency that staff rotations could not take place without permission from Ukrainian authorities.

• Grossi defended the rotation through Russian-occupied territory and said the only reason they did this was because he was responsible for the security of his employees.
• Starmer told the UK Parliament that a minerals deal between the US and Ukraine would not be “enough on its own” without security guarantees.
• A deal to end Russia’s war on Ukraine is “still very, very far away”, Zelenskyy said, adding that he expects to keep receiving US support despite his recent spat with Trump.
• Trump said he would “not put up with” Zelenskyy’s stance on a possible ceasefire with Russia after Zelenskyy said an end to the war was very far off. “This is the worst statement that could have been made by Zelensky, and America will not put up with it for much longer,” Trump said on his Truth Social network.
• In response, Zelenskyy said in a social media post that he wants to end the war as “soon as possible” and added that “it is very important that we try to make our diplomacy really substantive to end this war”.
• Trump said he would provide an update on the minerals deal on Tuesday and reiterated that Zelenskyy should be more appreciative of Washington’s support to Kyiv.
• Trump’s administration has paused financing any new weapons sales to Ukraine after his escalating feud with Zelenskyy. Reuters reported, citing a White House official, that Washington is reviewing its aid to ensure the US is contributing to peace.