NATGAS: Gas Summary At European Close: TTF Rises

• BOC SAYS ECONOMY SHOWING RESILIENCE NOT RECESSION AT YEAR END

The leaders of the E3 nations, French President Emmanuel Macron, German Chancellor Friedrich Merz, and UK PM Sir Keir Starmer, held a phone call with US President Donald Trump today regarding the war in Ukraine, according to a statement from the German chancellery. The statement says the four "discussed the status of talks on a ceasefire in Ukraine. Intensive work on the peace plan is to continue in the coming days. They agreed that this is a crucial moment for Ukraine and for common security in the Euro-Atlantic area." It remains to be seen what progress can be achieved, given the seemingly intractable differences, with the US pushing for a swift end to the conflict, while Ukraine's European allies hold out for an agreement that is more acceptable to Ukraine. 

• Comes ahead of talks between US and Ukrainian officials today regarding the nascent peace deal (see UKRAINE: Zelenskyy-US & Ukraine To Hold Peace Plan Talks Today).
• It was also the first direct communication between the E3 leaders and Trump since the latter's Politico interview in which he claimed "...most European..nations.. they’re ... they’re decaying", and that on the leadership [likely referring to EU and Western European leaders] "I think they’re weak, but I also think that they want to be so politically correct. They don’t ... I think they don’t know what to do." 

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