Sanctions russian oligarchs

The Group of Seven rich democracies will commit on Tuesday to a new package of coordinated actions meant to raise pressure on Russia over its war in Ukraine, and will finalise plans for a price cap on Russian oil, a senior US official said on Monday. The announcement came as the White House said Russia had defaulted on its foreign sovereign bonds for the first time in decades – an assertion Moscow rejected – and as Ukrainian President Volodymyr Zelensky spoke virtually with G7 leaders meeting at an alpine resort in southern Germany. Zelensky asked leaders of the Group of Seven leading industrial democracies for a broad range of military, economic and diplomatic support, according to a European official. G7 nations, which generate nearly half the world’s economic output, want to crank up the pressure on Russia without stoking already soaring inflation that is causing strains at home and savaging the global south. The price cap could hit Russian President Vladimir Putin’s war … [Read more...] about G7 to Hike Sanctions on Russia, Nears Oil Price Cap Deal

More than four months after she was arrested at a Moscow airport for cannabis possession, American basketball star Brittney Griner is to appear in court Monday for a preliminary hearing ahead of her trial. The Phoenix Mercury star, considered in some polls to be the United States’ most gifted female athlete, could face 10 years in prison if convicted on charges of large-scale transportation of drugs. Fewer than 1% of defendants in Russian criminal cases are acquitted, and unlike in the U.S., acquittals can be overturned. A preliminary hearing on Brittney Griner’s case is expected to be heard by the Khimki City Court in Moscow at 2 p.m. local time (7 a.m. ET) by Judge Anna Sotnikova, the court confirmed in documents. Vigil held to rally for Brittney Griner’s release from Russian prison June 7, 2022 00:35 The trial date has not been announced, but is expected soon; Griner was recently ordered to remain in pretrial detention until … [Read more...] about Brittney Griner due to appear in Russian court for preliminary hearing

The United Arab Emirates offered assistance to Russia and Ukraine in an event of a possible prisoner exchange, Russian news agency RIA Novosti reported citing people familiar with the developments. The people also told RIA Novosti the proposal sent by the Emirati is being considered as both nations finalize lists of prisoners scheduled to be swapped. Russia and Ukraine have claimed that both nations have captured hundreds of prisoners of war (POWs) since Russia’s war on Ukraine on February 24. Russia’s defense minister Sergei Shoigu in the first week of June said Russian forces have captured more than 6,500 Ukrainian fighters. The Ukrainian government earlier in June said that 11 rounds of prisoner swaps have been organized since the outbreak of the war. Dozens of prisoners were swapped in those rounds. Both nations have accused each other’s forces of committing war crimes and atrocities and mistreating civilians and POWs. Videos surfaced where Ukrainian forces were seen … [Read more...] about UAE Offers To Help Mediate Prisoner Swap Between Russia, Ukraine

World leaders mocked Russian President Vladimir Putin’s tough-man image at a G7 lunch in Germany on Sunday, joking about whether they should strip down to shirtsleeves — or even less. G7 leaders laughed at Putin During #G7 meeting, leaders joked whether it would be advisable to take off their jackets or even be more naked in order to oppose "formidable" and "tough" image of Putin. Justin Trudeau added:"We will arrange a ride on horseback with bare-chested." pic.twitter.com/Imq9caA3Oh — NEXTA (@nexta_tv) June 26, 2022 “Jackets on? Jackets off? Do we take our coats off?” British Prime Minister Boris Johnson asked as he sat down at the table in Bavaria’s picturesque Elmau Castle, where Chancellor Olaf Scholz was hosting the summit of seven powerful democracies. The leaders — from Britain, Canada, France, Germany, Italy, Japan, the United States and the European Union — pondered the dilemma. Canada’s prime minister, Justin Trudeau, suggested they wait for the official … [Read more...] about ‘Bare-chested Horseback Riding Display’: G7 Leaders Mock Putin

To look at it, Russia’s invasion of Ukraine was not a total shocker because of its historical ties and shared Soviet history. For Russia, Ukraine was a way to regain its lost glory at the peak of the Soviet expansion. However, a more strategic and immediate reason for Russia’s invasion lies in the eastward expansion of NATO and the pro-western stance of the current Ukrainian government, which Russia considers a threat lurking on its borders. On the other hand, a poll conducted by the International Republican Institute revealed that Ukrainians perceive Russia as an imperial power seeking to trample on their sovereignty and territorial integrity, with nearly 80 per cent of the population wanting to join the European Union. The world is still coming to terms with Russia’s Ukrainian invasion and the scale of the consequent humanitarian catastrophe. On February 24, 2022, in a televised address, Putin ordered military tanks to run over Ukraine in a “special military operation” to … [Read more...] about Will The Unification Of The West Reside In World War II Style Alliances?

This is a carousel. Use Next and Previous buttons to navigate 26 ELMAU, Germany (AP) — Leading economic powers conferred by video link with Ukrainian President Volodymyr Zelenskyy on Monday as they underscored their commitment to Ukraine for “as long as it takes” with plans to pursue a price cap on Russian oil, raise tariffs on Russian goods and impose other new sanctions. In addition, the U.S. was preparing to announce the purchase of an advanced surface-to-air missile system for Kyiv to help Ukraine fight back against Vladimir Putin’s aggression. The new aid and efforts by the Group of Seven leaders to punish Moscow come as Zelenskyy has openly worried that the West has become fatigued by the cost of a war that is contributing to soaring energy costs and price hikes on essential goods around the globe. U.S. … [Read more...] about G-7 leaders confer with Zelenskyy, prep new aid for Ukraine

This is a carousel. Use Next and Previous buttons to navigate 65 ELMAU, Germany (AP) — The Latest on the G-7 summit, the annual meeting of the leading democratic economies, which this year is being held in the Bavarian Alps in Germany; and on the summit of NATO leaders that will start on Tuesday in Madrid: NATO secretary general Jens Stoltenberg says the military alliance wants to increase the number of its rapid reaction forces from the current 40,000 troops to 300,000. Speaking at a press conference Monday ahead of a NATO summit later this week in Madrid, Stoltenberg said allies … [Read more...] about Live updates | NATO to boost reaction force, Ukraine support

Russia has defaulted on its foreign debt for the first time since the 1917 Bolshevik Revolution, as sweeping sanctions over its war in Ukraine effectively cut the country off from the global financial system and rendered its assets untouchable to many investors . Russia faced a deadline of Sunday night to meet a 30-day grace period on interest payments originally due May 27. Some bondholders said they had not received the overdue interest on Monday following the expiry of the key payment deadline. The Kremlin, which has the money to make payments thanks to oil and gas revenues, swiftly rejected the claims, and has accused the West of driving it into an artificial default. The U.S. Treasury Department ended Russia’s ability to pay its billions in debt back to international investors through U.S. banks earlier this year. A Treasury Department spokesperson told Reuters at the time that the action was meant to force Russia to draw down its domestic dollar reserves to … [Read more...] about Russia defaults on foreign debt for first time in more than a century

This is a carousel. Use Next and Previous buttons to navigate 3 BRUSSELS (AP) — European Union countries agreed Monday that all natural gas storage in the 27-nation bloc should be topped up to at least 80% capacity for next winter as they prepare for the possibility of Russia further reducing deliveries. The EU is trying to slash its use of Russian energy amid the Kremlin’s war in Ukraine and find other sources. A ban on imports of Russian coal will start in August, and an embargo on most oil from Russia will be phased in over the coming eight months. Meanwhile, Moscow is disrupting natural gas deliveries, a fuel used to power factories and generate electricity that the EU didn’t include in its own sanctions for fear of seriously harming the European economy. Before the war, the bloc got about 40% of its natural gas from Russia. Moscow has reduced gas supplies to several EU countries, including heavy importers Germany and Italy, and cut off … [Read more...] about EU countries adopt mandatory gas storage amid Russia’s cuts

This is a carousel. Use Next and Previous buttons to navigate 8 ELMAU, Germany (AP) — In 1975, leaders of the world’s wealthy democracies gathered to deal with an energy crisis sparked by a war and rampant inflation. Those same sore points are bedeviling their successors representing 46% of the global economy at this week's Group of Seven summit, with high consumer and energy prices threatening to trigger recessions in the U.S. and Europe. Here are key facts about the Group of Seven: WHAT IS THE GROUP OF SEVEN? It's a group of wealthy democracies with large, advanced economies and high standards of living. Annual summits give leaders a chance to hash out common approaches on pretty much anything they want to talk about. The first summits in the 1970s were convened to deal with the first post-World War II recession, and focused on fiscal stimulus and exchange rates. Economic policy still tends to be front and … [Read more...] about EXPLAINER: G7 provides forum for like-minded democracies