As Europe moves closer to meeting Washington’s demands on defense, trans-Atlantic mistrust is growing over Ukraine talks.

The euro jumped on Monday as investors eyed the prospects of a peace deal in Ukraine and potential increases in defence spending across the euro area. Ukrainian President Volodymyr Zelenskiy received a warm welcome in Britain after his meeting with U.

The EU cannot afford financing Ukraine's military efforts as U.S. financial aid is no longer guaranteed, Hungarian Prime Minister Viktor Orban said on Friday after the leaders of 26 EU countries signed a statement voicing support for Ukraine without Hungary.