Skip to content
The wire
Wall Street
ASXASX 200 9,082.20 down -0.71%as at 13 Nov 2026, 3:29 pm GMT+0800BHP Group (BHP) 58.86 AUD down -1.26%as at 13 Nov 2026, 3:29 pm GMT+0800Commonwealth Bank (CBA) 170.87 AUD down -0.52%as at 13 Nov 2026, 3:29 pm GMT+0800CommoditiesBrent Crude Oil (Brent Futures) 95.84 USD/bbl up +0.02%as at 15 Nov 2026, 6:08 am GMT+0800WTI Crude Oil (WTI Futures) 88.56 USD/bbl down -0.20%as at 15 Nov 2026, 6:08 am GMT+0800EuronextCAC 40 8,368.91 up +0.09%as at 15 Nov 2026, 6:08 am GMT+0800Euro StoxxEURO STOXX 50 6,386.86 down -0.19%as at 15 Nov 2026, 6:08 am GMT+0800FTSEFTSE 100 10,902.56 up +0.36%as at 14 Nov 2026, 5:52 am GMT+0800HKEXHANG SENG 23,637.60 down -1.55%as at 14 Nov 2026, 5:52 am GMT+0800NasdaqAlphabet (GOOGL) 295.77 USD down -0.98%as at 14 Nov 2026, 5:52 am GMT+0800Amazon (AMZN) 266.66 USD down -0.29%as at 14 Nov 2026, 5:52 am GMT+0800Apple (AAPL) 356.27 USD up +0.39%as at 14 Nov 2026, 5:52 am GMT+0800DOW JONES 52,347.55 up +0.10%as at 14 Nov 2026, 5:52 am GMT+0800Meta Platforms (META) 641.69 USD up +2.90%as at 14 Nov 2026, 5:52 am GMT+0800NASDAQ 25,136.27 down -0.91%as at 14 Nov 2026, 5:52 am GMT+0800S&P 500 7,561.67 down -0.40%as at 14 Nov 2026, 5:52 am GMT+0800Tesla (TSLA) 390.22 USD down -1.82%as at 14 Nov 2026, 5:52 am GMT+0800NSENIFTY 50 25,299.35 up +0.18%as at 13 Nov 2026, 3:29 pm GMT+0800NYSEBerkshire Hathaway (BRK.B) 592.94 USD up +0.53%as at 14 Nov 2026, 5:52 am GMT+0800NZXNZX 50 14,173.68 down -0.60%as at 13 Nov 2026, 3:29 pm GMT+0800Russell 2000RUSSELL 2000 2,790.49 down -0.31%as at 14 Nov 2026, 5:52 am GMT+0800SSESHANGHAI COMPOSITE 3,655.83 down -0.67%as at 12 Nov 2026, 5:24 pm GMT+0800TSENIKKEI 225 61,142.35 up +0.53%as at 13 Nov 2026, 3:29 pm GMT+0800XetraDAX 40 26,749.95 down -0.08%as at 15 Nov 2026, 6:08 am GMT+0800CryptoBTC/USD 68,241.00 USD down -4.59%as at 14 Nov 2026, 5:52 am GMT+0800Ethereum (ETH/USD) 1,926.53 USD down -4.56%as at 14 Nov 2026, 5:52 am GMT+0800SOL/USD 78.830 USD down -3.22%as at 14 Nov 2026, 5:52 am GMT+0800XRP/USD 1.01000 USD down -2.63%as at 14 Nov 2026, 5:52 am GMT+0800ForexAUD/EUR 0.615300 EUR down -0.36%as at 13 Nov 2026, 3:29 pm GMT+0800AUD/GBP 0.514200 GBP down -0.33%as at 13 Nov 2026, 3:29 pm GMT+0800AUD/JPY 108.8100 JPY down -0.43%as at 13 Nov 2026, 3:29 pm GMT+0800AUD/NZD 1.227300 NZD down -0.32%as at 13 Nov 2026, 3:29 pm GMT+0800AUD/USD 0.680400 USD down -0.54%as at 13 Nov 2026, 3:29 pm GMT+0800EUR/GBP 0.835690 GBP up +0.03%as at 13 Nov 2026, 3:29 pm GMT+0800EUR/USD 1.105802 USD down -0.19%as at 13 Nov 2026, 3:29 pm GMT+0800GBP/USD 1.323221 USD down -0.21%as at 13 Nov 2026, 3:29 pm GMT+0800NZD/USD 0.554388 USD down -0.22%as at 13 Nov 2026, 3:29 pm GMT+0800USD/CAD 1.425779 CAD down -0.01%as at 13 Nov 2026, 3:29 pm GMT+0800USD/CHF 0.835244 CHF up +0.26%as at 13 Nov 2026, 3:29 pm GMT+0800USD/CNY 6.669606 CNY up +0.02%as at 13 Nov 2026, 3:29 pm GMT+0800USD/JPY 159.9206 JPY up +0.11%as at 13 Nov 2026, 3:29 pm GMT+0800
Rates
  • AURBA4.85%Next 8 Dec
  • USFed3.75-4.00%Next 10 Dec
  • UKBoE4.00%Raised 0.25 · 6 Nov
  • EUECB2.50%Next 17 Dec
  • JPBoJ1.25%Next 18 Dec
  • CABoC2.50%Next 9 Dec
  • NZRBNZ2.75%Next 9 Dec
  • USUS CPI+0.4% m/mOct
  • USPayrolls+165,000 jobsOct 2026, seasonally adjusted monthly payroll change
  • USUS jobless4.1%Oct 2026, seasonally adjusted unemployment rate
  • USCore PCE3.1% y/ySep 2026, core PCE price index y/y
  • USUS GDP+3.4% annualisedQ3 2026, q/q seasonally adjusted annual rate
  • USUS retail+0.8% m/mSep 2026, m/m retail sales, seasonally adjusted
  • USISM mfg55.5Oct 2026, ISM manufacturing PMI index points
  • AUAU CPI4.3% y/ySep 2026, CPI y/y
  • AUAU jobless4.7%Sep 2026, seasonally adjusted unemployment
  • AUAU GDP+0.4% q/qQ2 2026, seasonally adjusted real GDP q/q
  • UKUK CPI3.5% y/ySep 2026, 12-month CPI
  • UKUK jobless4.7%Jun-Aug 2026, ILO unemployment
  • UKUK GDP+0.7% q/qQ3 2026, real GDP q/q
  • EUEZ CPI4.0% y/yOct 2026 euro-area HICP, flash estimate
  • CNChina GDP4.5% y/yQ3 2026, real GDP y/y
  • XAUGold4,052.40 USD/oz-1.49%
  • OILBrent99.69 USD/bbl+1.42%
  • OILWTI91.36 USD/bbl+0.11%
  • USUS 10Y4.837%-0.057 pts
  • VIXVIX28.18+69.66%
  • USDDXY101.768+0.21%
  • BTCBitcoin75,551.00 USD-6.09%
Monday 16 November 2026A wider view Independent in spirit. Open by design.

The headline.
The whole story.

Live desk
On the agenda Alaska Senate countCanary Islands arrivalsCyclone AkvanCape Verde electionIraq oil smugglingGreenwich office attack
World 3 min read

Russia’s price for peace in Ukraine: Britain and France must leave the rest of Europe without nuclear cover

A Russian position paper laid out at talks with US envoys asks Britain and France to rule out using their nuclear weapons to protect other European countries, and NATO to pull its forces back to where they stood in 1997. British Prime Minister Andy Burnham says Europe's security is not up for negotiation with Moscow. The demands revive almost word for word the ultimatum Russia issued two months before it invaded Ukraine in 2022.

Valcored News Network © Valcored News. All rights reserved.

Three things to know

  1. The paper, dated 10 November, asks for an end to NATO's nuclear sharing in Europe and for London and Paris to keep their nuclear weapons for their own defence only.
  2. It also asks NATO to withdraw allied forces from Poland and the Baltic states, take in no new members and stop all weapons deliveries to Ukraine.
  3. In return, Russia would accept Ukraine joining the European Union, but only if Kyiv stays out of the EU's common defence arrangements.

Russia has made the nuclear protection of Europe part of its price for ending the war in Ukraine.

An unsigned Russian position paper, dated 10 November and presented during talks in the Kremlin on 12 November between President Vladimir Putin and US envoys Steve Witkoff and Jared Kushner, sets out conditions that go far beyond Ukraine’s borders. Its contents have been reported across European and US media since Friday.

At its centre is a demand that Britain and France, Europe’s only nuclear powers, rule out using their arsenals to defend any other European country. The paper also calls for an end to NATO’s nuclear-sharing arrangements, under which US nuclear weapons are based in several European states.

What else is Russia asking for?

A Europe redrawn to 1997. The paper asks NATO to withdraw allied forces to the alliance’s borders before it took in former Warsaw Pact countries, which would mean pulling troops out of Poland and the Baltic states. It asks for a ban on further NATO enlargement and on military activity in Ukraine, Eastern Europe, the South Caucasus and Central Asia, and a complete halt to Western weapons for Ukraine.

The one apparent concession: Moscow says it could accept Ukraine joining the EU, as long as Kyiv is kept out of the bloc’s common defence policy.

How has Europe answered?

With a flat no. Burnham, speaking to reporters at the European Political Community summit in Dublin, said Europe’s security arrangements were not open to negotiation, and that it was for Europe alone to decide them. Britain commits its submarine-based nuclear deterrent to the defence of NATO.

Polish Prime Minister Donald Tusk warned that accepting the terms would be a direct threat to Poland’s security. Finland’s defence minister called any discussion of his country’s NATO membership outrageous. Ukraine’s Foreign Minister Andrii Sybiha accused Putin of chasing a new Yalta, and said the most Moscow can expect is a ceasefire along the current front line. German Chancellor Friedrich Merz has rejected tying a Ukraine deal to a rewrite of Europe’s defences.

Why does the nuclear demand matter so much?

Because it targets the backstop of European security. If London and Paris promised to use their weapons only in their own defence, a Russian attack on, say, Estonia or Poland would carry less risk of a nuclear response from Europe itself, leaving those countries more dependent on the US. Britain and France agreed in 2025 to coordinate their nuclear deterrents for the first time, a step meant to strengthen exactly the protection Moscow now wants removed.

Haven’t we heard this before?

Yes. In December 2021 Russia demanded legally binding promises that NATO would not expand, would pull back from Eastern Europe and would end nuclear sharing. The West refused, and Russia launched its full-scale invasion of Ukraine in February 2022. The new paper repeats much of that list, now with the added demand on Britain and France.

What does it mean for Australia?

Australia is not part of NATO, but it has backed Ukraine with military aid since 2022, and its own security rests on the same idea of extended deterrence through its alliance with the US. A deal that weakened nuclear guarantees in Europe would be watched closely in Asia.

How we got here

The key moments that brought this story into focus. Open any moment for detail.

  1. December 2021Russia's ultimatum

    Moscow demands NATO stop expanding, pull back from Eastern Europe and end nuclear sharing.

  2. 24 February 2022Full-scale invasion

    Russia invades Ukraine after the West rejects its demands.

  3. 2025Nuclear coordination

    Britain and France agree to coordinate their nuclear deterrents.

  4. 10 November 2026Position paper

    Russia's paper of peace conditions is dated.

  5. 12 November 2026Kremlin talks

    Putin meets US envoys Witkoff and Kushner; the terms are laid out. In Dublin, Burnham rejects negotiating Europe's security.

  6. 13 November 2026Europe picks its team

    Britain, France, Germany, Italy and Poland, with the EU and NATO, are chosen to represent Europe in future talks.

What happens next

Trump, Xi Jinping and Putin are due to meet in Shenzhen on 19 November, the first time the three have met together. European governments say they will speak with one voice in any talks, through the five-country group named on 13 November, and none has signalled any willingness to discuss Britain's or France's nuclear weapons.

Sources

  • VNN

VNN never names people who give us information in confidence. How we protect sources and tips.

The headline. The whole story.

Spotted something we should check? Tell the newsroom.

Comments

0 comments

Community rules

To read and join the conversation, please agree to our rules.

  1. Be respectful. No insults, name-calling, harassment, threats or hate.
  2. No links, web addresses or email addresses of any kind.
  3. No spam, advertising or self-promotion.
  4. One comment per story. You can reply to other people's comments, and to replies on yours.
  5. Stay on topic and keep personal information private.
  6. Comments that break these rules are removed, and repeat offenders are blocked.

Accessibility

Change how this website looks and behaves for you. Your choices are saved in this browser on this device only.

Text

Text size100%

Colour and links

Movement and focus

Read and find your way

Jump to a section of this page

    Your browser and device also have accessibility settings, such as zoom (Ctrl or ⌘ and +), a screen reader and reduced motion. This website works with them.

    Your privacy choices

    We use cookies and similar technologies to run this website. With your permission, we would also use them for advertising and embedded videos and social media posts. You can change your mind at any time with “Cookie settings” at the bottom of every page. Cookies policy.

    Cookie settings

    Choose what you allow. Storage the website needs to work is always on. You can come back here at any time from “Cookie settings” at the bottom of every page.

    • Strictly necessary

      Security, signing in, payments you start, protection against ad fraud and remembering your cookie choice.

      Always on
      What is stored (10)
      • vnn_consent VNN (this website) · Cookie · 12 months
        Remembers your cookie choices so we do not ask on every page.
      • wordpress_logged_in_*, wordpress_sec_* WordPress (this website) · Cookie · Until you sign out, up to 14 days
        Keeps you signed in, if you have an account (VNN staff, subscribers and buyers).
      • wordpress_test_cookie WordPress (this website) · Cookie · Until you close the browser
        Checks your browser accepts cookies when you sign in.
      • wp-settings-*, wp-settings-time-* WordPress (this website) · Cookie · 1 year
        Remembers dashboard layout for VNN staff. Not set for readers.
      • vcn_co VNN (this website) · Cookie · 1 day
        Links a payment to the browser that made it, so a new reader is signed in straight away after paying.
      • vnn_rules VNN (this website) · Cookie · 1 year
        Remembers that you agreed to the community rules before commenting.
      • vnn.rules VNN (this website) · Local storage · Until you clear your browser data
        The same agreement, kept in your browser as a back-up.
      • vnn.adshield.block, vnn.adshield.clicks VNN (this website) · Local storage · Up to 24 hours
        Protects our advertisers from invalid clicks (ad fraud) by pausing ads after repeated clicks.
      • vnn.adshield.ok VNN (this website) · Session storage · Until you close the tab
        Avoids re-checking the click protection on every page.
      • Payment security cookies Our card payment processor · Cookie · Up to 1 year
        Set only on the payment page and the billing part of your account page, to protect card payments from fraud.
    • Your settings on this device

      Saved stories, followed topics and other settings you choose. Kept in your browser only.

      Always on
      What is stored (7)
      • vcn.saved-stories.v1 VNN (this website) · Local storage · Until you remove them
        The stories you save with the bookmark button.
      • vcn.followed-topics.v1 VNN (this website) · Local storage · Until you remove them
        The topics you choose to follow.
      • vnn.alert.dismissed VNN (this website) · Session storage · Until you close the tab
        Remembers that you closed the breaking-news bar.
      • vnn.access VNN (this website) · Local storage · Until you reset them
        Your accessibility settings, such as text size and contrast.
      • vnn.support VNN (this website) · Local storage · Until you clear your browser data
        Remembers when you closed the “Support VNN” panel or gave, so it does not keep appearing.
      • comment_author_*, comment_author_email_* WordPress (this website) · Cookie · About 1 year
        Fills in your name and email on the comment form, only if you tick “Save my name”.
      • vnn-app-* VNN (this website) · Cache storage (service worker) · Until the app updates or you clear site data
        The web app’s icons and offline page, so it opens quickly and can tell you when you are offline.
    • Advertising

      Lets our advertising partner show ads based on your interests and measure them. If you say no, you may still see ads, but they are not personalised.

      What is stored (1)
      • __gads, __gpi, __eoi and Google ad cookies (e.g. IDE on doubleclick.net) Google AdSense · Cookie · Up to 13 months (set by Google)
        Shows ads, limits how often you see the same ad, prevents fraud and measures results. Ads are personalised only if you accept advertising.
    • Embedded videos and posts

      Loads videos, social media posts and other content hosted by other companies, such as YouTube or X. They may set their own cookies. If you say no, each one waits until you choose to load it.

      What is stored (1)
      • Set by the provider YouTube, Vimeo, X (Twitter), Instagram, TikTok, Facebook, Spotify and other embedded services · Cookie · Set by the provider
        Plays videos and shows posts inside our stories. Nothing loads until you choose to load it or allow embedded content.

    Full details: Cookies policy.

    VNNVALCORED NEWS NETWORK

    Install the VNN web app

    Choose your device to see how to add VNN to your home screen.

      What is the VNN web app?

      It is this website, saved to your home screen so it opens like an app: full screen, one tap away, straight to the front page. It is free, there is no app store download, it uses almost no storage and it updates itself. To remove it, press and hold the VNN icon and choose Remove. What the web app stores on your device