Contents tagged with EU
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EU transfers €400 million from frozen Russian assets to Ukraine, funding 18 new Bohdana howitzers
The European Union has transferred €400 million from frozen Russian assets to bolster Ukraine's defense industry. EU Ambassador to Ukraine, Katarina Mathernova, has announced that these funds were used to procure 18 'Bohdana' self-propelled howitzers. Mathernova emphasized the significant change in European policy, highlighting that the entire sum was allocated directly to the Ukrainian defense sector.
In an interview with Interfax Ukraine, Ambassador Mathernova stated, “This supports the …
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Zelensky and Polish FM Sikorski clash over Ukraine’s EU accession and historical grievances during Kyiv meeting
Tensions soared as Ukrainian President Volodymyr Zelensky found himself in a heated exchange with Poland's Foreign Minister Radek Sikorski during the latter's visit to Kyiv, according to Polish outlet Onet. Last week, a high-stakes meeting brought together Sikorski, Lithuanian Foreign Minister Gabrielius Landsbergis, and President Zelensky in the Ukrainian capital, with advisors joining the fray.
Sources paint a picture of a strained atmosphere, with an outright clash reportedly occurring …
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Czech Defense Minister: EU to fund Czech ammunition for Ukraine using frozen Russian assets
A portion of the income from Russia's frozen assets in the European Union will be directed towards procuring and supplying Czech ammunition for Ukraine, said Czech Defense Minister Jana Černochová. She shared the update on social media platform X, noting that the decision was made by the European Union.
“This is yet another proof of the trust our allies have in the Czech Republic and our ammunition initiative,” Černochová stated.
Černochová highlighted that this will enable the Czech Republic …
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German politicians demand action against Hungary's plan to ease entry for Russians and Belarusians
German politician Manfred Weber, member of the Christian Social Union and head of the European People's Party in the European Parliament, has called for strict measures against Hungary’s plans to simplify entry into the country for Russian and Belarusian workers. "Those who let Russians into the EU without checks threaten Europe's security," Weber told Bild am Sonntag in an interview.
"Putin’s spies and assassins have already caused great damage to the EU and Germany," Weber said, adding that …
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Hungary eases entry for Russians and Belarusians, sparking EU concerns
Hungary has reportedly eased entry conditions for Russians and Belarusians, allowing them access to the EU without stringent checks, repots Deutsche Welle.
After Viktor Orban’s visit to Moscow, Budapest has included Russian and Belarusian citizens in its so-called "national card" program. Intended for those wanting to work in Hungary, this card is issued for two years with the possibility of extension.
Journalists have noted that holders of the "national card" bypass special European-level …
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EU tightens sanctions: bans investors from participating in Russian asset exchange scheme
In a stern directive from the Directorate-General for Financial Stability, Financial Services, and Capital Markets Union (DG FISMA), the European Commission has prohibited individuals and legal entities from EU countries from participating in an asset exchange scheme proposed by Russia. This announcement, made on Wednesday, July 24, underscores the EU's firm stance on the involvement of Russia's National Settlement Depository (NSD), which has been on the EU's sanctions list since June 2022, …
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Kremlin vows retaliation against EU plan to use frozen Russian assets for arming Ukraine
Kremlin spokesperson Dmitry Peskov has stated that Russia will respond to the European Union’s decision to channel revenues from frozen Russian assets towards military supplies for Ukraine, as reported by RIA Novosti.
"These funds are not only stolen but are also being used to buy weapons. It's hard to imagine something worse," Peskov remarked.
He further emphasized that such actions "cannot remain unanswered."
"Moscow will explore legal options to prosecute those responsible for the …
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EU stalemate: Hungary’s veto paralyses military aid to Ukraine
Hungary once again blocked military aid funds for Ukraine. According to Josep Borrell, the EU has been unable to transfer earmarked funds to Ukraine for over a year due to the veto from a single country. At this stage, there is no constructive way out of this situation.
EU Foreign Ministers were unable to reach an agreement on unlocking the funds from the "European Peace Facility" during their meeting in Brussels. These funds are essential for supplying arms to Ukraine, Ukrinform cites the EU' …
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Euroclear to channel €1.55 billion from blocked Russian assets to Ukraine
Euroclear, the international securities depository, has announced it will contribute approximately €1.55 billion to the European fund for Ukraine from investments of blocked Russian assets by July this year.
According to Euroclear's report released on Friday,July 19th, for the first half of 2024, Euroclear realised €3.4 billion in interest income from investing these frozen Russian assets, compared to roughly €4.4 billion in 2023 and €821 million in 2022.
Euroclear's overall interest income …
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Russia slashes gas prices for Iran after losing European market
Russia is willing to supply natural gas to Iran at a 75% discount compared to European and Turkish prices.
Facing a significant loss of its European gas market, Russia is desperately seeking buyers in alternative markets and is compelled to agree to what some see as humiliating terms for selling its gas. This situation affects even the so-called "friendly" routes for the Kremlin.
An illustrative example is the reported readiness of Russia to supply gas to Iran at a 75% discount compared to …