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☆ Germany to give Holocaust survivors $236 payout to help them cope with October 7 attacks
  + stars: | 2024-04-12 | by ( Nadine Schmidt | ) edition.cnn.com   time to read: +2 min
CNN —Germany will provide a one-time payment of $236 (€220) to Holocaust survivors, to help them cope with the impacts of the Hamas-led October 7 attacks in southern Israel. Berlin will compensate 113,000 Holocaust survivors in Israel in the form of $27 million (€25 million), according to the German finance ministry. “Many Holocaust survivors were hit particularly hard by the Hamas attacks, whether through the loss of their homes, support systems in the form of care,” a German finance ministry spokeswoman said. The additional funds were aimed at helping the Holocaust survivors ”as quickly as possible (…) in this frightening and hopeless war situation,” the spokeswoman added. The payments are being distributed in Israel in cooperation with the Claims Conference and the Holocaust Survivors Rights Authority of the Israeli government, the German finance ministry said.
Persons: ”, Israel, –, Gideon Taylor, Adolf Hitler’s Nazi Organizations: CNN, Hamas, Ministry of Health, Rights Watch, Oxfam, Conference, Holocaust Survivors Rights Authority, German Finance Ministry Locations: Germany, Israel, Berlin, Gaza
☆ Russia seizes more Western assets, narrowing options for company exits
  + stars: | 2023-04-26 | by ( ) www.reuters.com   time to read: +4 min
President Vladimir Putin late on Tuesday signed a decree establishing temporary control of the Russian assets of the two European state-owned energy firms. The decree - outlining possible retaliation if Russian assets abroad are seized - showed Moscow had already taken action against Uniper's (UN01.DE) Russian division Unipro (UPRO.MM) and Fortum's assets. The European Union is looking at using frozen Russian assets to rebuild Ukraine. "Fortum's current understanding is that the new decree does not affect the title (registered ownership) of the assets and companies in Russia," the company said in a statement. Rosimushchestvo said more foreign firms' assets could come under temporary Russian control.
☆ Ukraine creditors group: provides assurances to support IMF steps to help Ukraine
  + stars: | 2023-03-24 | by ( ) www.reuters.com   time to read: +1 min
BRUSSELS, March 24 (Reuters) - The Group of Creditors of Ukraine (GCU) body said on Friday that it had provided financing assurances to support the International Monetary Fund's (IMF) approval for an upper credit tranche programme to help restore Ukraine's economy. The Group of Creditors of Ukraine includes Canada, France, Germany, Japan, Britain and the United States. That is why Germany is committed to providing financial support bilaterally and in various multilateral forums," a German finance ministry spokesperson said in a written statement. The group agreed to conduct a debt restructuring in a later phase to restore the country's debt sustainability, it added. Reporting by Sudip Kar-Gupta, additional reporting by Victoria Waldersee; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.
☆ German sanctions against Russian oligarchs advancing slowly
  + stars: | 2023-03-04 | by ( ) www.reuters.com   time to read: +1 min
BERLIN, March 4 (Reuters) - Germany is making slow progress in enforcing sanctions against Russian oligarchs and institutions, according to government numbers seen by Reuters on Saturday. Germany has frozen around 5.25 billion euros ($5.57 billion)in assets belonging to sanctioned oligarchs since Russia's invasion of Ukraine, according to the German finance ministry. The figure was 4.28 billion euros six months ago. "Since December, only 200 million euros in oligarch assets have been frozen, and for half a year, just one billion. The value equals about 577 million euros.
☆ Germany's half-a-trillion dollar energy bazooka may not be enough
  + stars: | 2022-12-15 | by ( Christoph Steitz | ) www.reuters.com   time to read: +8 min
Almost half a trillion dollars, and counting, since the Ukraine war jolted it into an energy crisis nine months ago. The money set aside stands at up to 440 billion euros ($465 billion), according to the calculations, which provide the first combined tally of all of Germany's drives aimed at avoiding running out of power and securing new sources of energy. That equates to about 1.5 billion euros a day since Russia invaded Ukraine on Feb. 24. Energy rationing is a risk in the event of a long cold spell this winter, Germany's first in half a century without Russian gas. There's no security in sight either, with the push to build up of two alternatives to Russian fuel - liquefied natural gas (LNG) and renewables - years away from targeted levels.
☆ German finance ministry wants 33% windfall tax on energy firms - Die Welt
  + stars: | 2022-11-22 | by ( ) www.reuters.com   time to read: +1 min
BERLIN, Nov 22 (Reuters) - Germany's finance ministry aims to introduce a 33% tax on oil and gas companies that have benefited from windfall profits, Die Welt newspaper reported on Tuesday. Citing a draft document, Die Welt said companies in the oil, gas, coal and refining sectors whose profits for this and next year are more than 20% higher than the average profits of 2018 to 2021 would have to pay the extra tax. The plans are the implementation of a European Union-wide agreement on energy companies in response to high energy prices due to a collapse in supplies from Russia since Moscow's invasion of Ukraine. The ministry has estimated additional revenues of about three billion euros, said the newspaper. No one at the finance ministry was immediately available for comment.
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