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EU business registrations rise in Q4 2025 as bankruptcies accelerate across key sectors

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  Business activity across the European Union showed a mixed but telling picture in the final months of 2025. New company formations continued...
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  In November 2025, the number of people seeking international protection in European Union countries continued its downward trend, according...
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  Flemish cities and municipalities are preparing to sell €1.8 billion worth of public property in the coming years, as local authorities...
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  Business activity across the European Union showed clear signs of momentum—and strain—at the end of 2025, with more companies being...
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Elina Laurinen takes the helm of European Commission representation in Finland

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We do not fully understand the prospects for the end of the war in Donbass between Russia and Ukraine to launch Nord Stream-2. The war in Donbass and

the transfer of the territory of Crimea to the control of totalitarian Russia in 2014 were almost unnoticed in Germany. The authorities were busy dealing with refugees from Syria, hundreds of thousands of which rushed to Northern Europe. The state of Ukraine has undertaken the resettlement of millions of Donbass residents who lost their homes due to an attack by Russian troops. It has employed millions of refugees, provided housing, hundreds of universities, colleges, and other educational institutions were evacuated, and enterprises were relocated. Russia also partially accepted refugees from Donbass.

Nowadays, the gas pipeline transporting gas through Ukraine to the EU is the latest economic project that unites two countries that have become hostile for many years due to the bloody war in Donbass.

Now, no one in the world disputes the value of Nord Stream-2 for the German economy. And few people care that Ukraine will lose quite large funds because gas will be delivered to Europe bypassing the territory of Ukraine.

However, no one in the world can predict how many million refugees from Ukraine will come to Germany if Russia unleashes a full-scale war in Eastern and Southern Ukraine. The problem of Syrian refugees in Europe will seem an easy test compared to the prospects for refugees' arrival from 40 million Ukraine if the Russian troops in the Donbass are ordered to move to the West and are supported by aviation and rocket artillery.

Are the leaders of France and Germany (who in the course of yesterday's negotiation decided to continue constructing the gas pipeline and believe the “security guarantees of Ukraine” that the Kremlin is talking about) concern in the fate of tens of millions of Ukrainians? Unlikely.

Ursula von der Leyen, who was the German Defence Minister, understands this. However, Berlin does not want to know it, local authorities of some lands do not want to see it also as they technically support the continuation of Nord Stream-2.

European companies got involved in an exciting game, i.e. to bypass more and more new sanctions imposed by the United States. This “ping-pong” is watched with horror by 1,5 million refugees from Donbas, who, taking their children in their arms, will again seek shelter in other people's homes and countries if hostilities start again.

Perhaps Berlin and Paris believe that Ukraine is a part of Russia and that it will easily surrender if a large-scale war and that German houses will receive cheap Russian gas. This was also the opinion of the Russian service leaders, who were unable to storm the Donetsk airport in 242 days defended by a small Ukrainian volunteers group. And they were no less brave than the Russian opposition leader, Alexei Navalny, who returned to his homeland.

Dr O.J.Kozerod, Vice-President CEDS

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