live Russia, Ukraine preparing new major prisoner exchange
Russia and Ukraine are preparing another major prisoner exchange, with officials from both sides working to fin...
The core United Nations (UN) budget could be cut by $577 million next year under a proposal from UN's Secretary-General António Guterres, who is also seeking to eliminate more than 18% of jobs.
Guterres is seeking to improve efficiency and reduce costs as the United Nations marks its 80th year while confronting a worsening cash crisis driven largely by unpaid U.S. dues.
“We ended 2024 with 760 million dollars in arrears, of which 709 million dollars remains outstanding. We have also not received 877 million dollars of 2025 contributions, and arrears now stand at 1.586 billion dollars,” Guterres told the 193-member General Assembly budget committee.
He proposed a core budget of 3.238 billion dollars for 2026, a reduction of 15 percent compared with this year. The core budget covers the UN’s political, humanitarian, disarmament, economic and social affairs, as well as communications functions.
Contributions to most UN agencies, funds and programmes, such as the World Food Programme and UNICEF, remain voluntary.
“Liquidity remains fragile, and this challenge will persist regardless of the final budget approved by the General Assembly, given the unacceptable volume of arrears,” Guterres said.
The United States is the largest contributor to the UN’s core budget, paying the maximum 22 percent under the General Assembly’s assessment scale.
President Donald Trump has said the UN has “great potential” but argues it is not meeting expectations, and he wants to significantly reduce U.S. funding.
In March, Guterres launched a reform task force known as UN80, aimed at cutting costs and improving efficiency across the organisation.
UN peacekeeping has a separate budget. In October, senior UN officials said a quarter of personnel across nine missions would be cut because of funding shortages and uncertainty over future U.S. contributions.
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concerns over potential disruption to regional oil supplies.
Ukraine’s President Volodymyr Zelenskyy said on Monday that Kyiv wants peace but will not surrender to Russia, as foreign leaders joined Independence Day events marking 35 years since Ukraine’s independence.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Only four commodity vessels crossed the Strait of Hormuz on Sunday, following 13 transits a day earlier, as disruptions continue to restrict traffic through the key energy chokepoint.
Pakistan is stepping up efforts to protect its trade and energy supplies as the Iran war disrupts shipping through the Persian Gulf, driving up freight costs and putting pressure on key export routes.
Russia and Ukraine are preparing another major prisoner exchange, with officials from both sides working to finalise lists of people who could be released, Russia's state news agency TASS said Wednesday.
The Trump administration has temporarily suspended some visa appointment scheduling at U.S. embassies and consulates around the world as part of a new training initiative for consular staff, adding another layer to the administration's broader immigration policy overhaul.
The United States has launched what it describes as its most aggressive sanctions campaign yet against Iran, expanding secondary sanctions and targeting sectors ranging from shipping and aviation to technology and finance.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Canada has announced nearly $20 billion in retaliatory tariffs on U.S. goods and billions in support for workers and businesses, escalating its trade dispute with Washington after President Donald Trump's latest duties took effect.
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