Business news from Ukraine

Czech Prime Minister Andrej Babiš stated that current developments in the international situation could lead the world into World War III, and called on Europe to pay more attention to a diplomatic resolution of Russia’s war against Ukraine.
Babiš made these remarks on September 17 while delivering the opening address at the IISS Prague Defense Summit 2026 in Prague. The Czech government and the conference organizer—the International Institute for Strategic Studies (IISS)—have confirmed that the speech took place.
“I’m not afraid to say this out loud. The path the world is currently on does not lead to security. It leads straight to the gates of hell. It is leading us toward World War III,” Babiš said, according to the Czech news agency ČTK.
According to the Czech prime minister, the European security debate focuses too much on the military aspect and not enough on finding a diplomatic solution. He noted that Europe, together with the United States, must push for direct negotiations between Ukrainian President Volodymyr Zelenskyy and Russian President Vladimir Putin with the aim of ending the war.
At the same time, Babiš emphasized that he considers Russia an aggressor. As reported by the Czech press, the prime minister stated that Putin’s actions are “completely unacceptable,” but diplomacy, in his view, must remain one of the main tools for ending the war.
Babiš also drew attention to the duration of the war. According to him, as of September 17, Russia’s full-scale aggression against Ukraine had been ongoing for 1,666 days—99 days longer than World War I. The prime minister stated that the wars in Ukraine and the Middle East have not only military but also serious economic consequences, including rising costs for energy and food, as well as pressure on European industry.
At the same time, Babiš did not advocate abandoning efforts to strengthen Europe’s defense; rather, he proposed creating a joint European missile defense system called Euro Patriot. Under his plan, European countries could pool their industrial and technological capabilities—similar to the creation of Airbus—and develop their own system to defend against ballistic missiles and drones.
“We must learn from the war in Ukraine and seek solutions, first and foremost in the area of defense against ballistic missiles,” the Czech prime minister said. In his view, such a project would simultaneously strengthen Europe’s contribution to NATO and create additional opportunities for the European defense industry, including the Czech defense sector.
The IISS Prague Defense Summit is taking place in Prague from September 16–18, 2026. It is attended by political and military leaders, representatives of international organizations and the defense industry, as well as experts. The main topics of the conference are the development of European defense capabilities, military mobility, arms procurement, missile defense, and the future of transatlantic cooperation.