Domestic political opposition to $1.5bn deal for secure communications has mounted amid transatlantic diplomatic tensions

French satellite operator Eutelsat Communications SA said talks with the European Union to replace Elon Musk’s Starlink in Ukraine are intensifying as the US pulls back from its commitments there.

It was US President Donald Trump’s furious Oval Office clash with his Ukrainian counterpart last Friday that convinced fund manager Hugo Squire it was time to buy bonds in Eutelsat Communications SA.