Australia ‘should be prepared to contribute’ to securing Ukraine’s freedom, former PM says
A former Australian prime minister has said his country should be “prepared to make a contribution” to protect the freedom of Ukraine.
Tony Abbott told Sky News’ Politics Hub With Sophy Ridge that no country “will be safe against a bully” if Vladimir Putin wins the war.
He called on Britain to take the lead in protecting Ukraine even without a US backstop – but said all the free countries of the world should be “prepared to make a stand”.
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Mr Abbott, who led the conservative Liberal Party, said: “I personally think that Australia should be prepared to make a contribution to the long term freedom and security of Ukraine.
“The Ukrainians have been fighting for the freedom of everyone. And if Putin is able to snuff out the freedom and the independence of Ukraine, what smaller country anywhere is safe against a bully?
“Is Taiwan safe? Is Australia, for that matter, safe? Is Japan safe?
“This is why it’s important that whatever the Americans ultimately do, the free countries of the world are prepared to make a stand in support of the freedom of Ukraine.”
It comes after Sir Keir Starmer urged America to provide a “security guarantee” to deter Putin and said he is prepared to send British troops to Ukraine if a peace deal is made.
The UK prime minister was speaking following a summit of continental leaders that was arranged by French President Emmanuel Macron, after Donald Trump shocked the world by arranging bilateral talks between the US and Russia – excluding Europe and Ukraine.
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US must provide ‘backstop’ to deter Russia
Mr Abbott said Mr Trump “will blight his second presidency” if he hands a victory to Putin.
“If the result of anything the American president does is to leave Ukraine broken, defenceless, and ultimately a colony of imperial Russia, I think that would be a tragedy,” he said.
He said Sir Keir was “sensible and brave” to consider sending peace keeping troops, but he should be prepared to do this without America’s help, and on its own if necessary.
He said: “Britain is a substantial power. After the United States, it’s the second most powerful country, notwithstanding the current weakness of the British Army. And it should be prepared to take a stand for freedom by protecting Ukraine.
“Britain should be prepared to lead here and it should not expect yet again to ride on America’s coat tails.”
Mr Trump has said the US no longer sees the defence of Europe as its primary concern in a major change of policy since the Second World War.
It has prompted calls for the UK and other NATO countries to increase defence spending.
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Speaking after the Paris summit on Monday night, Sir Keir said a “US security guarantee” is the only path to peace in Ukraine.
But he also insisted “Europe must play its role”, adding: “I’m prepared to consider committing British forces on the ground alongside others if there is a lasting peace agreement.
“So I will go to Washington next week to meet President Trump and discuss what we see as the key elements of a lasting peace.”
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However, despite three hours of emergency talks, European leaders left the meeting without a common view.
German Chancellor Olaf Scholz described the idea of deploying European peacekeepers as “completely premature” and said it was “completely the wrong time to have this discussion”.
And Denmark’s Mette Frederiksen said her country was “open to discussing many things” but stressed her nation was still very far off deploying its own soldiers to Ukraine.
Watch the full interview on the Politics Hub with Sophy Ridge from 6.30pm
Sir Keir Starmer has joined other European leaders in Kyiv to press Russia to agree an unconditional 30-day ceasefire.
The prime minister is attending the summit alongside French President Emmanuel Macron, recently-elected German Chancellor Friedrich Merz and Polish Prime Minister Donald Tusk.
It is the first time the leaders of the four countries have travelled to Ukraine at the same time – arriving in the capital by train – with their meeting hosted by President Volodymyr Zelenskyy.
Sir Keir Starmer, Emmanuel Macron and Friedrich Merz travelling in the saloon car of a special train to Kyiv. Pic: Reuters
Leaders arrive in Kyiv by train. Pic: PA
It comes after Donald Trump called for “ideally” a 30-day ceasefire between Kyiv and Moscow, and warned that if any pause in the fighting is not respected “the US and its partners will impose further sanctions”.
Security and defence analyst Michael Clarke told Sky News presenter Samantha Washington the European leaders are “rowing in behind” the US president, who referred to his “European allies” for the first time in this context in a post on his Truth Social platform.
“So this meeting is all about heaping pressure on the Russians to go along with the American proposal,” he said.
“It’s the closest the Europeans and the US have been for about three months on this issue.”
Sir Keir Starmer, Volodymyr Zelenskyy and Emmanuel Macron among world leaders in Kyiv. Pic: AP
Trump calls for ceasefire. Pic: Truth Social
Ukraine’s foreign minister Andrii Sybiha said Ukraine and its allies are ready for a “full, unconditional ceasefire” for at least 30 days starting on Monday.
Ahead of the meeting on Saturday, Sir Keir, Mr Macron, Mr Tusk and Mr Merz released a joint statement.
European leaders show solidarity – but await Trump’s backing
The hope is Russia’s unilateral ceasefire, such as it’s worth, can be extended for a month to give peace a chance.
But ahead of the meeting, Ukrainian sources told Sky News they are still waiting for President Donald Trump to put his full weight behind the idea.
The US leader has said a 30-day ceasefire would be ideal, but has shown no willingness yet for putting pressure on Russian president Vladimir Putin to agree.
The Russians say a ceasefire can only come after a peace deal can be reached.
European allies are still putting their hopes in a negotiated end to the war despite Moscow’s intransigence and President Trump’s apparent one-sided approach favouring Russia.
Ukrainians would prefer to be given enough economic and military support to secure victory.
But in over three years, despite its massive economic superiority to Russia and its access to more advanced military technology, Europe has not found the political will to give Kyiv the means to win.
Until they do, Vladimir Putin may decide it is still worth pursuing this war despite its massive cost in men and materiel on both sides.
“We reiterate our backing for President Trump’s calls for a peace deal and call on Russia to stop obstructing efforts to secure an enduring peace,” they said.
“Alongside the US, we call on Russia to agree a full and unconditional 30-day ceasefire to create the space for talks on a just and lasting peace.”
Sir Keir and Volodymyr Zelenskyy during a meeting in March. Pic: AP
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Putin’s Victory Day parade explained
The leaders said they were “ready to support peace talks as soon as possible”.
But they warned that they would continue to “ratchet up pressure on Russia’s war machine” until Moscow agrees to a lasting ceasefire.
“We are clear the bloodshed must end, Russia must stop its illegal invasion, and Ukraine must be able to prosper as a safe, secure and sovereign nation within its internationally recognised borders for generations to come,” their statement added.
“We will continue to increase our support for Ukraine.”
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The European leaders are set to visit the Maidan, a central square in Ukraine’s capital where flags represent those who died in the war.
They are also expected to host a virtual meeting for other leaders in the “coalition of the willing” to update them on progress towards a peacekeeping force.
Military officers from around 30 countries have been involved in drawing up plans for a coalition, which would provide a peacekeeping force in the event of a ceasefire being agreed between Russia and Ukraine.
Listen to The World with Richard Engel and Yalda Hakim every Wednesday
This force “would help regenerate Ukraine’s armed forces after any peace deal and strengthen confidence in any future peace”, according to Number 10.
On April 29, 2025, UK Finance Minister Rachel Reeves unveiled plans for a “comprehensive regulatory regime” aimed at making the country a global leader in digital assets.
Under the proposed rules, crypto exchanges, dealers, and agents will be regulated similarly to traditional financial firms, with requirements for transparency, consumer protection, and operational resilience, the UK Treasury said in a statement released following Reeves’ remarks.
Per the statement, the Financial Services and Markets Act 2000 (Cryptoassets) Order 2025 introduces six new regulated activities, including crypto trading, custody, and staking.
Rather than opting for a light-touch regime similar to the EU’s Markets in Crypto-Assets (MiCA), the UK is applying the full weight of securities regulation to crypto, according to UK-based law firm Wiggin. That includes capital requirements, governance standards, market abuse rules, and disclosure obligations.
“The UK’s draft crypto regulations represent a meaningful step toward embracing a rules-based digital asset economy,” Dante Disparte, chief strategy officer and head of global policy at Circle, told Cointelegraph.
“By signaling a willingness to provide regulatory clarity, the UK is positioning itself as a safe harbor for responsible innovation.”
Disparte added that the proposed framework can provide the predictability needed to “scale responsible digital financial infrastructure in the UK.”
Related: Revolut doubles profits to $1.3B on user growth, crypto trading boom
UK’s new crypto rules are “net positive”
Vugar Usi Zade, the chief operating officer (COO) at Bitget exchange, also expressed optimism regarding the new regulations, claiming that it “is a net positive” for the industry.
“I think a lot of companies recently exited or hesitated to enter the UK because they were not clear about what activities, products, and operations need FCA authorization. Firms finally get clear definitions of “qualifying crypto assets” and know exactly which activities—trading, custody, staking or lending—need FCA authorization.”
For exchanges, including Bitget, the UK’s draft rules mean they need full approval from the Financial Conduct Authority (FCA) to offer crypto trading, custody, staking, or lending services to UK users.
The rules also give companies two years to adjust their systems, like capital and reporting. “Mapping each service line to the new perimeter adds compliance overhead, but that clarity lets us plan product roll‑outs and invest in local infrastructure,” Zade said.
The new draft regulations reclassify stablecoins as securities, not as e-money. This means UK-issued fiat-backed tokens must meet prospectus-style disclosures and redemption protocols. Non-UK stablecoins can still circulate, but only via authorized venues.
Zade claimed that excluding stablecoins from the Electronic Money Regulations 2011 (EMRs), which keeps them out of the e‑money sandbox, could slow their use for payment.
However, Disparte, whose firm is the issuer of USDC (USDC), the world’s second-largest stablecoin by market capitalization, said predictability is key to fostering responsible growth in the UK.
“What matters most is predictability: a framework that enables firms to build, test, and grow responsibly—without fear of arbitrary enforcement or shifting goalposts. If realized, this could mark a pivotal moment in the UK’s digital asset journey.”
Related: UK regulator moves to restrict borrowing for crypto investments
UK to require FCA approval for foreign crypto firms
Among the biggest changes as part of the new draft rules is the territorial reach. Non-UK platforms serving UK retail clients will need the FCA authorization. The “overseas persons” exemption is limited to certain B2B relationships, effectively ring-fencing the UK retail market.
Crypto staking enters the perimeter as well. Liquid and delegated staking services must now register, while solo stakers and purely interface-based providers are exempt. New custody rules extend to any setup that gives a party unilateral transfer rights, including certain lending and MPC (multiparty computation) arrangements.
“Some DeFi nuances still need fleshing out, but the direction is toward efficient, tailored compliance rather than blanket restriction,” Bitget’s Zade said.
He added that the broad “staking” definition might sweep in non‑custodial DeFi models lacking a central provider. “Proposed credit‑card purchase restrictions—though aimed at high‑risk use—could dampen retail participation in token launches,” he said.
Furthermore, Zade said bank‑grade segregation rules for client assets could burden lean DeFi projects. “Final rule tweaks will need to mitigate these side effects.”
The FCA plans to publish final rules on crypto sometime in 2026, setting the groundwork for the UK regulatory regime to go live. The roadmap to greater regulatory clarity in the UK could follow the European Union, which started to implement its MiCA framework in December.
Magazine: Finally blast into space with Justin Sun, Vietnam’s new national blockchain: Asia Express
Politics
European leaders to meet in Ukraine for ‘coalition of the willing’ talks – and issue call to Russia
Sir Keir Starmer will join other European leaders in Kyiv on Saturday for talks on the “coalition of the willing”.
The prime minister is attending the event alongside French President Emmanuel Macron, recently-elected German Chancellor Friedrich Merz and Polish Prime Minister Donald Tusk.
It will be the first time the leaders of the four countries will travel to Ukraine at the same time – on board a train to Kyiv – with their meeting hosted by President Volodymyr Zelenskyy.
Follow latest updates on the Ukraine war
Sir Keir Starmer, Emmanuel Macron and Friedrich Merz travelling in the saloon car of a special train to Kiev. Pic: Reuters
Military officers from around 30 countries have been involved in drawing up plans for the coalition, which would provide a peacekeeping force in the event of a ceasefire being agreed between Russia and Ukraine.
Ahead of the meeting on Saturday, Sir Keir, Mr Macron, Mr Tusk and Mr Merz released a joint statement voicing support for Ukraine and calling on Russia to agree to a 30-day ceasefire.
Sir Keir and Volodymyr Zelenskyy during a meeting in March. Pic: AP
“We reiterate our backing for President Trump’s calls for a peace deal and call on Russia to stop obstructing efforts to secure an enduring peace,” they said.
“Alongside the US, we call on Russia to agree a full and unconditional 30-day ceasefire to create the space for talks on a just and lasting peace.”
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Putin’s Victory Day parade explained
The leaders said they were “ready to support peace talks as soon as possible”.
But they warned that they would continue to “ratchet up pressure on Russia’s war machine” until Moscow agrees to a lasting ceasefire.
“We are clear the bloodshed must end, Russia must stop its illegal invasion, and Ukraine must be able to prosper as a safe, secure and sovereign nation within its internationally recognised borders for generations to come,” their statement added.
“We will continue to increase our support for Ukraine.”
Read more:
Russia’s VE Day parade felt like celebration of war
Michael Clarke Q&A on Ukraine war
Ukraine and Russia accuse each other of breaching ceasefire
Listen to The World with Richard Engel and Yalda Hakim every Wednesday
The European leaders are set to visit the Maidan, a central square in Ukraine’s capital where flags represent those who died in the war.
They are also expected to host a virtual meeting for other leaders in the “coalition of the willing” to update them on progress towards a peacekeeping force.
This force “would help regenerate Ukraine’s armed forces after any peace deal and strengthen confidence in any future peace”, according to Number 10.
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