Morning Briefing: Dec. 12, 2025

ISTANBUL

Here is a rundown of all the news you need to start your Friday, including the US saying it will seize oil from a tanker captured near the Venezuelan coast, Ukrainian President Volodymyr Zelenskyy saying Washington wants a ceasefire only after a framework deal while Türkiye has been working on separate energy and water truce initiatives, and the UN warning that flooding threatens 40% of Gaza with more than 760 displacement sites at the highest risk level.

TOP STORIES

• US will seize oil from tanker captured near Venezuelan coast: White House

The Trump administration intends to seize oil from a tanker that it captured off the coast of Venezuela, the White House said, as tensions with Caracas reach a fever pitch.

Spokesperson Karoline Leavitt defended the US action, saying the tanker was a "sanctioned shadow vessel" that was "known for carrying black market sanctioned oil" to Iran's Islamic Revolutionary Guard Corps.

"The president is committed to stopping the illegal flow of drugs into our country. He's also fully committed to effectuating this administration's sanction policy. And that's what you saw, and the world saw take place yesterday," she said.

• US wants ceasefire only after framework deal, says Zelenskyy, as Türkiye exerts energy truce effort

Ukrainian President Volodymyr Zelenskyy said the US believes a ceasefire with Russia is only possible once a framework peace agreement is signed, while Türkiye has been working on separate energy and water truce initiatives that Moscow refuses to accept without a broader deal, according to the RBC-Ukraine news agency.

Zelenskyy told journalists that according to Washington’s repeated contacts with Moscow, Russia “will not agree to a ceasefire if there is no agreement,” adding that Kyiv’s position remains unchanged -- a complete halt to hostilities.

On the prospect of an energy or water truce, Zelenskyy said Turkish President Recep Tayyip Erdogan has been trying to launch the process, proposing meetings first at the technical level and then between leaders.

“I told him (Erdogan) that we are ready,” he said, noting that the US prefers achieving a single framework deal that would trigger a nationwide ceasefire.

• UN warns flooding threatens 40% of Gaza as over 760 displacement sites face highest risk level

The UN warned that severe flooding across hundreds of displacement sites in the Gaza Strip was placing nearly half of the territory's population at heightened risk as heavy rains worsen already dire conditions.

"Heavy rains have flooded tents, soaked people's belongings and increased health risks, including hypothermia among babies and illnesses linked to overflowing sewage," UN spokesperson Farhan Haq said at a news conference, citing the Office for the Coordination of Humanitarian Affairs (OCHA).

​​​​​NEWS IN BRIEF

• The White House struck a noncommittal tone about President Donald Trump's views on a Ukrainian peace proposal sent to the US earlier this week, saying only that he is "aware of" the response.
• UN Secretary-General Antonio Guterres voiced concern over the US takeover of an oil tanker off the coast of Venezuela a day earlier, his spokesperson said.
• Ukrainian President Volodymyr Zelenskyy said the issue of any potential territorial arrangements under ongoing peace discussions must be decided solely by the Ukrainian people.
• Swiss Eurovision winner Nemo Mettler announced that the 2024 Eurovision trophy will be returned to the European Broadcasting Union (EBU), saying the contest's continued inclusion of Israel contradicts its stated values.
• Thai Prime Minister Anutin Charnvirakul said he will "return power to the people," amid speculation about parliament’s dissolution and a snap election.
• NATO’s secretary general warned that Russia could be in a position to attack NATO within five years, urging allies to boost defense spending and strengthen the alliance's deterrence.
• Armenian Prime Minister Nikol Pashinyan proposed to Azerbaijan the adoption of a joint roadmap on ending the "Karabakh issue."
• Bulgarian Prime Minister Rosen Zhelyazkov announced his Cabinet's resignation ahead of a no-confidence vote amid nationwide anti-government protests, according to the Bulgarian News Agency.
• NATO chief Mark Rutte downplayed concerns over the new US national security strategy document, emphasizing that the Trump administration remains committed to the alliance.
• German Chancellor Friedrich Merz said that Kyiv and European allies have prepared a new Ukraine peace proposal addressing territorial issues, which will be discussed with the Americans over the weekend.
• Russia reiterated it has no "aggressive plans" against NATO or EU members and that it is ready to guarantee this in writing.

BUSINESS & ECONOMY

• Turkish Central Bank lowers policy rate by 150 basis points, matching estimates

The Turkish Central Bank lowered its policy rate by 150 basis points, matching market forecasts.

The benchmark one-week repo rate was lowered from 39.5% to 38%, matching the results of an Anadolu survey.

The bank said that consumer inflation in November was lower than expected due to a downward surprise in food prices. Following an increase in September, the underlying trend of inflation declined slightly in October and November.

• US Treasury Department imposes new Venezuela-related sanctions

The US Treasury Department announced new sanctions targeting officials and businesses tied to Venezuelan President Nicolas Maduro, focusing on his inner circle and companies operating in the oil industry.

The Office of Foreign Assets Control (OFAC) sanctioned three nephews of Maduro’s wife, Cilia Flores; a Maduro-affiliated businessman; and six shipping companies operating in Venezuela’s oil sector.

Additionally, a statement said OFAC is identifying six associated vessels that have engaged in "deceptive and unsafe" shipping practices and continue to provide financial support to Maduro’s government.