The EU stepped up its regulatory actions against big U.S. tech companies this week, issuing the first fine to X. Antitrust investigations into Meta and Google are ongoing. What's the bigger picture? Trump is actively pushing for high-level Russia-Ukraine negotiations and has significantly reduced aid to Ukraine. If Ukraine continues fighting in 2026, most of the expenses will have to be borne by the EU. Meanwhile, the U.S. government is working hard these past couple of days to block Belgium from transferring frozen Russian assets to the EU for aiding Ukraine.