Zelensky of Trump: You think you understand what's going on here in Ukraine.

But before any kind of negotiations, come to see people, civilians, soldiers, hospitals, churches, children destroyed or dead. You will see what Putin did. 1/ Q: Would you invite Trump to Ukraine?

Zelensky: With pleasure. We want him to come. 2/

FT: Putin’s running out of money to fund his war in Ukraine.

Urals crude fell to $50 per barrel, 28% below Russia's 2025 budget projection of $69.70.

This gap will shrink Moscow's budget by 2.5% and cut GDP growth by 0.5 points if prices don't recover. 1/ Since 2020, the liquid portion of Russia’s National Welfare Fund has fallen by two-thirds.

If used to cover the growing deficit, it may not last far beyond this year, says Benjamin Hilgenstock from the KSE Institute. 2/

Reuters: The U.S. is pushing for control over Ukraine’s strategic resources without offering any security guarantees in return. 1/ The latest U.S. draft deal demands:

– exclusive rights for U.S. firms to mine rare earths and other Ukrainian minerals

– a joint U.S.-Ukraine fund to collect all revenues from state and private Ukrainian extraction. 2/

Foreign policy asks a fantastic question - why don’t Russian soldiers revolt. After all they all die.

Here is the answer. 1/ Russia's soldiers follow orders despite 300,000+ casualties in Ukraine - more deaths than all Moscow's wars since 1945, Foreign Policy.

Discipline relies on threats, beatings, and executions. Commanders use “meat grinder” tactics, sending waves of poorly equipped men to die. 2/

Europe prepares for a US-brokered ceasefire in Ukraine, but that’s a show for Trump

Ministers of 30 nations met in Brussels on April 10 to plan a reassurance force for Ukraine

Key questions: how big the force will be, what'll it do, and how it fits with a ceasefire? Reuters 1/ The meeting at NATO HQ was part of ongoing talks by a UK-France-led "coalition of the willing". They aim to secure Ukraine's future after any potential US-brokered peace deal.

Over 200 military planners are involved. 2/

Trump says he is friends with China, but!; no more tariff extensions; tariff cash to cut debt, lower taxes, and finish the wall!

He will look into reports that Chinese are fighting in Ukraine; the deal for Ukraine is close; the war is senseless 0/ Q: What’s next with China?

Trump: We're resetting the table. I respect President Xi. But this time, it’s going to be a deal that works for both. 1/

The Economist: Ukraine’s defence output is projected to hit $15bn in 2025, up from $1bn in 2022. Most of the weapons used at the front - artillery, drones, missiles - are now made inside Ukraine, reducing reliance on U.S. or EU. 1/ Ukrainian companies now produce over 1 million drones monthly, including FPV, reconnaissance, and long-range strike models. These drones are used daily to destroy Russian tanks, command posts, and logistics hubs. 2/

Ukraine commander in chief Syrskyi says Russia has begun a new offensive, this time in the north east of Ukraine.

here are key points:

0/ Syrskyi: Assaults in Kharkiv and Sumy regions have started.

attacks increased twice from April 2 - 69 attacks to 120 attacks - April 7

Amount of Russian troops in Ukraine in that area increased by 20k

1/

Zelensky: Ukraine proposes buying – not receiving – the next US military aid tranche.

Kyiv requested a $30-50 billion package, offering direct payment to Washington or investment into the joint mineral fund, Bloomberg reports. 1/ Zelensky: We did not ask for the next package free of charge.

Bloomberg says Kyiv is awaiting a White House response on prospects for future military aid. 2/

Ukraine will spend $2.7M on lawyers and consultants to draft a minerals deal with the U.S, Reuters.

But the problem in my view is it is difficult to find anyone to take the contract. Legal firms are afraid of Trump and his team 1/ Trump: The deal gives America a financial stake in Ukraine — and a way to earn back aid. 2/

Zelensky’s number 2, Yermak says Chinese fighters are already on Ukraine’s front, fighting for Russia.

He tells Corriere della Sera what that means for Beijing—and why Ukraine no longer believes in neutrality. 1/ Yermak: No elections in Ukraine this summer. Impossible to plan elections while still fighting. 2/

Two captured Chinese soldiers spoke out from Ukraine.

One claimed he had never even held a gun before.

Second said he passed out from Russian gas - and Ukrainians saved his life.
1/ Q: Who are you?

1st soldier: My name is Zhang Renbo. I’m from Jiangxi, China. Before that, I never even held a gun.

2nd soldier: My name is Wang Guangjun. I’m 34. From Zhengzhou, Henan. I was also captured in Ukraine.
2/

Kaja Kallas: Without Chinese support, Russia wouldn't be able to wage the war at the current level.

If China were to stop supporting Russia, it would seriously affect Russia. 1/ Kaja Kallas: China is the key enabler of Russia's war. 80% of the dual-use goods are entering Russia via China. Even without Chinese army is involved. 2/

Milton Friedman explains why even a pencil can’t be made in one country. It is made by a thousand of people all around the word. The tariffs hurt their coordination and make pencil production unnecessarily expensive. 1/ Milton Friedman: Adam Smith’s free market rules are simple. Look at this pencil. No one person can make it. 2/

Trump: These countries are kissing my ass.

I know what the hell I am doing. China wants to make a deal.

I closed Nordstrom’s 2 and was tough on Putin. The European Union was set up to screw the U.S. 0/ Trump on tariffs: These countries are calling us up, kissing my ass.

They are dying to make a deal. ‘Please, please, Sir, make a deal. I’ll do anything. I’ll do anything, Sir. 1/

Zelensky: We have captured two Chinese soldiers on Ukrainian territory.

We have their documents, even credit cards. They are citizens of China.

I believe the United States of America needs to pay more attention to what is happening today. 1/ Zelensky: We expect that China is now another country that supports Russia’s invasion of Ukraine - after Iran and North Korea.

But there is a difference: North Koreans fought against us on the Kursk front, while the Chinese are fighting on Ukrainian territory. 2/

Zelensky: Ukrainian forces have captured two Chinese citizens fighting as part of the Russian army. This occurred in the Donetsk region, Ukraine. We have their documents, bank cards, and personal information. 1/ Zelensky: There are more than two Chinese citizens serving within Russian units. I’ve instructed Ukraine’s FM to immediately contact Beijing to clarify how China intends to respond. 2/

Trump shut down the EU’s offer to drop tariffs on cars and industrial goods, Politico. Offer means nothing unless Brussels buys $350B of U.S. energy. No energy deal – no trade deal. 1/ The U.S. has a $350B trade deficit with the EU.

Trump: It’s like a company’s loss sheet — and energy sales can wipe it out in a week. They can buy it, we knock off $350 billion in one week. 2/

Under Putin, 75% of Russians see America as their enemy. In the 1990s, 70% saw the US as a good friend, The Hill.

Now, Moscow laughs at America.

Case in point: Putin was once caught laughing with Russian elites after they reminded he was late for a call with Trump. 1/ Russians now prefer Tehran (8x more) and favor China over America.

The Kremlin continues to sell its population the lie that it’s defending itself from a hostile West, with Europe as a slave of Washington. 2/

The Economist: Europe is quietly turning Ukraine into a $15bn steel war machine.

5M FPV drones and 3,000 cruise missiles in 2025.

EU plans to double military aid to €40B in 2025, focusing on arms procurement and scaling Ukraine’s defense industry. ("porcupine strategy")

1/ Ukraine’s defence output reached $10B in 2024, up 10x from 2022; 800+e firms now employ 300,000 people, with capacity projected at $35B.

2/

Ursula von der Leyen: Europe is ready to negotiate with the US. We offered zero for zero tariffs on industrial goods.

Europe is always ready for a good deal - so we keep it on the table.

But we are prepared to respond with countermeasures to defend our interests. 1/ Von der Leyen: We're discussing our response to the US, and other two key parts of our strategy.

First, we’ll strengthen the single market and remove remaining barriers.

Second, we’ll diversify trade to expand market access and support our companies. 2/