Source link Residents of India’s northernmost territory were jubilant when Ladakh was separated from Jammu and Kashmir in 2019. Jubilation has been replaced by fear of potential devastation brought by outsiders For 16 days climate activist Sonam Wangchuk has been sleeping, in sub-zero temperatures, under the open sky in India’s northernmost frontier Ladakh region. He […]
Source link A first tranche of over $3 billion could be disbursed in July, the outlet has learned The European Commission is pressing ahead with its plan to give Kiev up to €3 billion ($3.2 billion) from profits generated by frozen Russian assets amid waning financial support from the US, the Financial Times reported on […]
Source link The funds belonging to Moscow’s central bank have accrued nearly €4.4 billion in interest over the past year The EU is discussing the option of using profits generated by frozen Russian assets for not only reconstruction in Ukraine, but also for military support, the bloc’s foreign policy chief Josep Borrell has said. EU […]
Source link Brussels unblocked €2 billion after Budapest approved Sweden’s NATO membership The European Union has unlocked another batch of previously blocked funding for Hungary, citing Budapest’s alleged progress on gender equality. The decision came just days after Hungary voted to ratify Sweden’s application to NATO. The Hungarian business news outlet Portfolio was the first […]
Source link Western allies are looking for “viable” options to expropriate the funds, US Treasury Secretary Yellen has said The US and its allies will keep seeking a “firm” legal rationale to underpin plans to confiscate frozen Russian assets, US Treasury Secretary Janet Yellen told Reuters on Thursday. In an interview held shortly after a […]
Source link Legislation allowing such a move should be called “Navalny Laws,” Norbert Rottgen said Russia’s assets that remain frozen in the West should be confiscated in response to the death of opposition activist and anti-corruption campaigner Alexey Navalny, German parliament member Norbert Rottgen has said. This money should be used to provide more arms […]
Source link Lawsuits over the ‘wrongful death’ of embryos accidentally destroyed in a fertility clinic can proceed, an Alabama court ruled The Supreme Court of the US state of Alabama has ruled that frozen embryos created as part of fertility treatments are to be considered children under state law and are therefore subject to legislation […]
Source link A senior official with the fund has called for an assessment of the legal grounds before the immobilized reserves are seized Any steps towards seizing Russia’s frozen reserves should be backed by “sufficient legal support,” IMF First Deputy Managing Director Gita Gopinath has warned in an interview with Foreign Policy magazine published on […]
Source link The EU is already pursuing plans to transfer the interest accumulated on Moscow’s funds to Ukraine The US is in discussions with other G7 nations on potential ways to seize frozen Russian sovereign funds, State Department spokesperson Matthew Miller has confirmed. His comments came shortly after the European Council enacted measures that could […]
Source link The bloc has approved a measure that would let it seize the interest earned by sanctioned assets The European Union on Monday took a step towards confiscating the interest earned by Russian sovereign funds the bloc has frozen in relation to the Ukraine conflict. The EU and the US moved to freeze an […]
Source link The EU has unanimously backed the idea of using profits from the funds to help Ukraine The EU’s plan to seize the profits from frozen Russian assets and hand them over to Ukraine would be a gross violation of international law, the Foreign Ministry in Moscow has told RIA Novosti. Belgium-based clearing house […]
Source link Major EU clearinghouse Euroclear has revealed that it accrued almost $5 billion in profit from frozen Russian assets last year. In its financial results for 2023 published on Thursday, the Belgium-based company reported that net interest earnings amounted to €5.5 billion ($5.9 billion), of which €4.4 billion “relate to interests linked to Russian […]
Source link The bloc had been debating directing the income generated by the reserves to Ukraine for more than a year EU member states have reached an agreement that is expected to allow Brussels to transfer the income generated by Russia’s frozen central bank reserves to Kiev, according to an X (formerly Twitter) post on […]
Source link Discussions about outright seizure of Moscow’s withheld assets have recently become more frequent in Western capitals Russia is preparing to mount a legal battle to prevent its reserves frozen in the West from being seized, Bloomberg News reported on Friday. An estimated $300 billion worth of Russian assets were frozen last March as […]
Source link Kiev’s Western benefactors have reportedly turned from optimism to seeking a “new theory of victory” over Russia Discouraged by Ukraine’s failed counteroffensive and no longer seeing a “convincing theory of victory” over Russia, Kiev’s Western allies have reportedly shifted to looking for a way to claim success by freezing the conflict in place […]