BlackRock, a U.S. investment firm, suspended work on a multibillion-dollar Ukraine recovery fund following U.S. President Donald Trump's election victory, prompting France to work on a replacement, Bloomberg reported on July 5.

The plan nearly secured the initial support of institutions backed by the governments of Germany, Italy, and Poland, people familiar with the matter told Bloomberg.

Kyiv has sought to secure investment in Ukraine's reconstruction as Russia's war continues to destroy infrastructure across the country.

BlackRock halted its search for institutional investors in January, causing the planned funding that sought to secure $500 million from governments, development grants, and investment banks, and another $2 billion from private investors, to fall through.

The investment firm halted talks with institutional investors in January due to a lack of interest amid perceived uncertainty in Ukraine.

The fund was set to be unveiled by BlackRock at the upcoming Ukraine Recovery Conference on July 10-11 in Rome, Bloomberg reported.

A spokesperson for BlackRock said the investment firm completed advisory work for the recovery fund pro bono in 2024 and no longer has "any active mandate."

France is working on a proposal to replace the recovery fund led by BlackRock, people familiar with the matter told Bloomberg, adding that it remains uncertain how effective the plan will be without Washington's backing.

President Volodymyr Zelensky and Italian Prime Minister Giorgia Meloni are expected to attend the Ukraine Recovery Conference next week.

Despite a partial rebound from a 30% economic slump in 2022, foreign investment in Ukraine remains underwhelming.

As US aid to Ukraine dries up, new platform connects Americans investors with Ukrainian startups

Ukraine’s startup ecosystem has tripled in five years, even during Russia’s full-scale invasion, to become the second most valuable in Central and Eastern Europe at $28 billion.

The Kyiv IndependentDominic Culverwell

The British and French-led "coalition of the willing" is set to meet in the U.K. next week, Politico reported on July 4.

"On the agenda, there's how to maintain Ukraine in a capacity to fight, how to increase pressure on Russia, and how to continue the work on the next steps," an unnamed French official told Politico.

As Washington's intensified efforts to broker a ceasefire in Russia's war against Ukraine failed, two rounds of largely inconclusive peace talks between Kyiv and Moscow took place in Turkey.

Following various failed attempts to obtain a ceasefire or peace deal, the coalition will meet again on July 10.

The French official told Politico that the priorities of the "coalition of the willing" have not changed, and will continue to focus on Ukraine's military needs.

The meeting will be led by U.K. Prime Minister Keir Starmer and French President Emmanuel Macron, with President Volodymyr Zelensky and various leaders joining virtually, the official said.

The "coalition of the willing" has met repeatedly to determine potential security guarantees and a peacekeeping force for Ukraine. Leaders of 31 nations met in Paris on March 27 at a summit for the coalition.

Several countries, including France and the U.K., which lead the coalition, have pledged to send troops on the ground to enforce a potential ceasefire.

Russia launches another horrific attack on Kyiv hours after Trump-Putin call

Ripe cherries and apricots fill the stalls of fruit vendors, while people bustle about on a scorching July Friday. Yet just a five-minute walk from the stand, the scene shifts dramatically: a gaping hole mars the five-story residential building where the stairwell once stood. Rescuers tirelessly sift through the

The Kyiv IndependentKateryna Hodunova

Editor's note: The story was updated as the President's Office confirmed that following the call with Vladimir Putin, Emmanuel Macron also called Volodymyr Zelensky.

French President Emmanuel Macron and his Russian counterpart Vladimir Putin held a call on July 1 for the first time since 2022, discussing Russia's war against Ukraine and the conflict in the Middle East, the Kremlin's press service reported.

The conversation between the two leaders took place as the Russian army continues to advance along the front line, trying to gain a foothold in Sumy Oblast and enter Dnipropetrovsk Oblast.

Moscow has repeatedly rejected the U.S.-backed ceasefire proposal, stalling peace talks with Ukraine.

Following the call with Putin, Macron also called Zelensky to discuss his conversation with the Russian president, a source in the President's Office told the Kyiv Independent.

The call between Zelensky and Macron was "constructive," the source added. Putin's position remained unchanged: he does not show any willingness to end the war in Ukraine, according to the source.

The call between Putin and Macron lasted over two hours, BFM TV reported, citing the Elysee Palace.

During the conversation with Macron, Putin called Russian war "a direct consequence of the policy of Western powers" that "ignored Russia's security interests, created an anti-Russian bridgehead in Ukraine," the Kremlin said.

Macron, in turn, noted France's unwavering support for Ukraine's sovereignty and territorial integrity, Suspilne reported, citing the Elysee Palace.

The French president also called for "a ceasefire to be established as soon as possible and for negotiations to begin."

The leaders will continue to discuss Russia's war in Ukraine, according to the Elysee Palace.

The presidents also discussed the situation in the Middle East regarding the Iranian-Israeli conflict and the U.S. strikes on Iranian nuclear facilities.

Macron frequently called Putin in the first year of Russia's full-scale invasion of Ukraine. Their previous call took place in September 2022.

Russia-Iran alliance wavers as Tehran suffers major blows

Tehran, Russia’s main ally in the Middle East, has been dealt a heavy blow as Israel dismantled its network of proxies and then struck targets in Iran. The recent Iranian-Israeli war, which ended with a ceasefire on June 24, showed that the regional balance of power has shifted in Israel’s favor. This could have a major impact on Russian-Iranian relations as Moscow will have to recalibrate its approach to the region. Russian-Iranian cooperation is likely to continue but Iran’s ability to help

The Kyiv IndependentOleg Sukhov

The European Union and its allies are ready to toughen sanctions on Russia, French President Emmanuel Macron said on the sidelines of the Group of Seven (G7) summit on June 17.

"With President (Volodymyr) Zelensky at the G7. We stand in solidarity with the Ukrainian people after last night’s massive Russian strikes," Macron said in a post to social media.

"We are determined to increase pressure on Russia to accept the immediate and unconditional ceasefire that Ukraine is ready for," he added.

Macron attended the G7 summit in Kananaskis, Canada, from June 15-17. Global leaders discussed a wide range of topics, including Russia's war against Ukraine.

As the G7 leaders met in Canada, Russia launched one of its worst drone and missile attacks on Kyiv since it began its full-scale war against Ukraine in February 2022, killing 16 people and injuring at least 134.

"The common position that is emerging is to say, 'We need to strengthen sanctions,'" CBC News reported, citing Macron.

Europe is proposing much tougher sanctions than the U.S. has imposed on Russia, Macron said, adding that the EU is in "very close co-ordination" with Canada, Japan, and the U.K.

Several countries, including Canada and the U.K., introduced additional sanctions on Russia as the G7 summit was ongoing.

Canada introduced a new military aid package for Ukraine in addition to its sanctions against Russia.

"In our view, this has changed the situation because it will allow us to bring Russia back to the negotiating table, as (U.S.) President (Donald) Trump has been demanding," Macron said, according to CBC News.

Zelensky attended the summit and met with various leaders, including Macron and Canadian Prime Minister Mark Carney.

Zelensky left the summit early, citing Russia's attack on Kyiv. The nearly nine-hour-long attack saw Moscow's forces launch large numbers of drones and missiles at Ukraine's capital.

Foreign Minister Andrii Sybiha condemned the attack, calling it a "massive and brutal strike" timed deliberately to coincide with the G7 summit.

Zelensky described the drone and missile assault as "one of the most horrifying attacks on Kyiv."

‘He said he wasn’t going anywhere’ — Survivors search for missing following Russia’s deadliest attack on Kyiv this year

Sitting a few meters from the rubble of what used to be a nondescript nine-story residential building in Kyiv, Lilia rises to her feet every time another pile of debris is cleared from the site targeted by Russia during a mass overnight attack on June 17. “We are waiting (as

The Kyiv IndependentKateryna Denisova

Nine Ukrainian students remain hospitalized following a deadly bus accident in France that killed three Ukrainian nationals and injured dozens more, Ukrainian officials confirmed on June 14.

The group, made up of students and teachers from Chernivtsi Oblast, was returning from an academic exchange when their bus veered off the road in the Sarthe department of France on June 13.

While en route to Paris, the bus veered off the road for reasons still under investigation and flipped into a ditch. In addition to the four fatalities, French media reported nine people were seriously injured and 18 sustained minor injuries.

According to Ruslan Zaparaniuk, governor of Chernivtsi Oblast, nine Ukrainian students remain hospitalized, though their conditions are stable. "All other people have received the necessary support, food, and temporary shelter and are now in safe locations," he wrote on Facebook.

Zaparaniuk noted that Ukraine's Embassy in France is organizing the logistics to help the children return home and is assisting parents wishing to travel to France to visit their hospitalized children.

Ukraine's Embassy in France said that a diplomatic team, led by Ambassador Vadym Omelchenko, traveled to the crash site and remains in Sarthe to support victims and coordinate with French authorities.

According to the embassy, two people injured in the crash remain in critical condition. All other victims are receiving medical treatment and support from Ukrainian and French teams.

President Volodymyr Zelensky expressed condolences in a June 13 statement, calling the accident "terrible news" and thanking French authorities for their solidarity and rapid response.

Three Ukrainians killed in bus accident in France, Zelensky confirms

Three Ukrainian nationals were killed in a bus accident in France on June 13, President Volodymyr Zelensky confirmed in a statement on Telegram. The accident occurred in northwestern France as a group of Ukrainian adults and children was returning from an educational exchange.

The Kyiv IndependentLucy Pakhnyuk

Three Ukrainian nationals were killed in a bus accident in France on June 13, President Volodymyr Zelensky confirmed in a statement on Telegram.

"Terrible news about the tragic bus accident in France," Zelensky wrote.

The accident occurred in the morning of June 13, near the Sarthe department of France. The bus was reportedly carrying Ukrainian nationals, including adults and children, who were returning from an educational exchange.

While en route to Paris, the bus lost control and flipped into a ditch.

Four adults were killed in total – three of whom were Ukrainian nationals. French media reported that nine people sustained serious injuries, while an additional 18 suffered minor injuries.

Zelensky added that Ukraine's Foreign Ministry promptly sent a team of diplomats and consuls, led by the ambassador to France, to assist survivors and support the victims’ families. The team is coordinating with French authorities and emergency services at the scene.

Foreign Minister Andrii Sybiha and Interior Minister Ihor Klymenko are providing regular updates on the victims' conditions and emerging details regarding the accident.

Zelensky thanked the French authorities, noting that "more than 50 emergency teams were deployed" in what he called "a true expression of French solidarity."

He also expressed his "condolences to all the families of the victims" and wished for a "speedy recovery of the injured children."

Russian military equipment reportedly hit in Ukrainian drone attack against Crimea

The Crimean Wind Telegram channel reported a hit in Simferopol, Crimea’s capital, sharing a photo of a plume of smoke rising in the vicinity of a local power station and of the village of Perevalne.

The Kyiv IndependentMartin Fornusek