FT News Briefing

Ukraine’s new war chest: frozen Russian funds?

45 snips
Sep 26, 2025
A new consortium, including Oracle and Silver Lake, is set to take control of TikTok USA amid rising valuations. Germany's chancellor proposes using frozen Russian assets to finance Ukraine's military needs, reflecting shifting European dynamics. Meanwhile, a landmark trial leads to former French president Sarkozy's conviction for criminal conspiracy. Additionally, the U.S. is negotiating a bailout to stabilize Argentina's struggling economy, as political challenges threaten the newly elected president.
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INSIGHT

TikTok US Ownership Restructured

  • The US approved splitting TikTok US from ByteDance, with Oracle, Silver Lake and Abu Dhabi's MGX owning nearly half.
  • Oracle will oversee data and algorithm security while ByteDance keeps ~20% stake, valuing TikTok US at $14bn.
INSIGHT

Merz Proposes Loans From Frozen Russian Assets

  • Germany's Friedrich Merz proposes lending €140bn raised from frozen Russian assets to Ukraine specifically for military purchases.
  • He wants the funds used to buy European equipment, supporting both Ukraine and Europe's defence industry.
INSIGHT

Geopolitics Shift Europe's Stance

  • Merz shifted from skepticism because rising Russian provocations and fears of reduced US support under Donald Trump pressured Europe.
  • Europeans worry Trump may prepare to shift blame to Europe if Ukraine fails, spurring calls for more independent action.
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