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The United States and the West’s other large economies have agreed on a plan to issue a roughly $50 billion loan to Ukraine that would be repaid by interest and profits from nearly $300 billion in frozen Russian assets held in the West. The promise of much-needed financial support for weapons and to begin to rebuild damaged infrastructure comes as Ukraine has been forced to sell some state assets and as the momentum in the war on its territory has shifted in favor of its foe, Russia, whose forces launched a full-scale invasion in 2022. President Biden agreed to have the United States underwrite the entire loan, but American officials said they expected allies, including members of the European Union, to provide some of the upfront funds. The loan would eventually be repaid through interest and profits earned on the frozen Russian assets, which would serve as collateral.
Persons: Biden Organizations: European Union Locations: States, Ukraine, West, Russia, United States
So on Thursday, he rolled out a new set of alternative steps, each designed to demonstrate to President Vladimir V. Putin of Russia, and to the Ukrainians, that the United States and its allies have no intention of packing up and leaving, as they did in Afghanistan, even if Ukraine remains outside NATO for years. He signed a 10-year security pact — albeit one with vague commitments and an early exit option — with Ukraine’s president, Volodymyr Zelensky. Mr. Biden portrayed the agreement as a long-term guarantee of continued arms, intelligence support, advice and technology to win the current war and deter a new one. And he said the United States would take the lead in providing a loan of about $50 billion to Ukraine to rebuild its devastated ports and power plants, buy weapons and close its budget gap. The money is to be repaid from interest generated from $300 billion in assets that Mr. Putin, inexplicably, left in Western financial institutions before his February 2022 invasion.
Persons: Biden, Vladimir V, Putin, Volodymyr Zelensky, Mr Organizations: NATO Locations: Europe, Ukraine, NATO, Russia, United States, Afghanistan
Mr. Biden and Mr. Zelensky will meet on Thursday and sign a security agreement, said Jake Sullivan, Mr. Biden’s national security adviser. Mr. Biden faces the hurdle of convincing his allies, starting with Mr. Zelensky, that the United States plans to stay in the fight with Ukraine, no matter what happens in November. Mr. Biden told Mr. Zelensky last week, in France, that “I apologize for the weeks of not knowing what was going to pass,” and put the onus on Republicans in Congress. During a trip to Normandy last week, Mr. Biden appeared to have persuaded France, one of the last holdouts, to support the deal. “The administration has been quick to get aid to Ukraine once Congress moved, and that’s to its credit,” he said.
Persons: Biden, Volodymyr Zelensky, Mr, Zelensky, Jake Sullivan, , ” Mr, Sullivan, we’ll, , Vladimir Putin, Pope Francis, Donald J, Trump, Rishi Sunak, Emmanuel Macron, Biden’s, Vladimir V, Putin, Claudia Greco, John E . Herbst, Evelyn Farkas, Barack Obama, Ms, Farkas, ” Alan Rappeport Organizations: Ukraine, U.S, Kremlin, Group, Air Force, , hobble, NATO, Mr, Reuters, European, World Bank, Eurasia Center, Atlantic Council, United, McCain Institute, Arizona State University Locations: Ukraine, United States, Italy, Israel, Russia, hobble Russia, Europe, France, Congress, Savelletri, Normandy, Belgium’s, U.S, Eurasia
Washington CNN —President Joe Biden is leading the world’s richest democracies in sending a beefed-up message to Russian President Vladimir Putin that the West will not forsake Ukraine despite political shocks casting doubts over its commitment. A flurry of new Western plans to help UkraineStill, the latest Western plans to help Ukraine send a strong message of intent. The sanctions target foreign financial firms aiding Putin’s war effort, restrict Russian access to some US software and information technology. Russian advances on the battlefieldThese are substantial and credible political, economic and political demonstrations of support for Ukraine. Not surprisingly, Zelensky has always chafed at the self-imposed limits of Western support for his war effort that are a symptom of Biden’s core aim of avoiding a direct NATO confrontation with Russia.
Persons: Joe Biden, Vladimir Putin, Biden, Volodymyr Zelensky, ” Biden, , Donald Trump, Trump, lionizes Putin, wobbling, , George H.W, George H.W . Bush, Janet Yellen, ” — Biden, Zelensky, ” Jake Sullivan, Wesley Clark, ” Clark, they’ve, , Kamala Harris, Sullivan, John Kirby, Putin Organizations: Washington CNN, Republican Party, Capitol, Republican, CNN, NATO, Big, Union, Ukraine, Trump, Biden, Air Force, Hudson Institute, Kremlin, Kyiv, West, White House National Security Council Locations: Russian, Ukraine, Italy, Normandy, Europe, United States, France, Germany, George H.W ., Russia, Britain, Japan, Canada, NATO, Washington, Kyiv, Cuba, China, Iran, Israel, Ukrainian, Switzerland
It was not immediately clear how many weapons Hezbollah, a powerful militia and political faction backed by Iran, launched into Israel on Thursday. The assault included a number of drones aimed at Israel’s northern military headquarters, Hezbollah said. Israel’s military said in the afternoon that Hezbollah had sent more than 40 rockets across the border, but the barrage continued well into the evening. Hours later, Israel had not updated that number, but a military spokesman called it Hezbollah’s most serious attack since October. At least four people were injured in the assault on Thursday, according to Israel’s military and its emergency service, Magen David Adom.
Persons: Israel, Magen David Adom Organizations: Hamas Locations: Lebanon, ramped, Gaza, Iran, Israel
Israeli soldiers used a trebuchet to throw incendiaries near the Lebanese border, a video appears to show. The Israeli military stated this was a local initiative, not a widespread tool, per local reporting. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAn unusual video apparently depicting Israeli soldiers launching fireballs near the Lebanese border using a trebuchet, a siege weapon used to attack castles and fortifications in ages past, began circulating on social media Thursday.
Persons: Organizations: Service, KAN News, Business Locations: Lebanese
Read previewLauren Boebert's teenage son, Tyler Boebert, has finally hired an attorney for his Colorado criminal theft case after months without any representation. Tyler Boebert had been without an attorney during his last two court appearances, first telling the judge that he was having trouble affording a lawyer. "I wish you'd turned in that application a little sooner," Neiley told Tyler Boebert at the time. But Tyler Boebert did not go with a public defender, after all. Police say Tyler Boebert was spotted in a Colorado store where a stolen credit card was used.
Persons: , Lauren Boebert's, Tyler Boebert, William Trent Palmer, John Neiley, Neiley, you'd, Palmer, Tyler Boebert's, Boebert, Lauren Boebert, Donald Trump Organizations: Service, Business, Judicial, DA, WTP, Rifle Police Department Locations: Colorado, Garfield, Carbondale , Colorado, , Colorado, Rifle , Colorado, New York City
Read previewA US Navy nuclear-powered attack submarine arrived in Cuba on Thursday, the Pentagon revealed, putting the American combat vessel in the Caribbean nation at the same time as one of Russia's most formidable subs. AdvertisementThe Los Angeles-class attack submarine USS Helena transits the Atlantic Ocean. One of these vessels is the Kazan, a Yasan-class nuclear-powered cruise missile submarine. A spokesperson for SOUTHCOM said that the Helena's arrival in Cuba was not a direct response to the Russian naval vessels. AdvertisementThe Russian nuclear-powered submarine Kazan arrives at Havana's harbor on June 12.
Persons: , Helena, Rafael Martie, SOUTHCOM, ADALBERTO ROQUE, Dmitry Peskov, it's, Sabrina Singh, We're, Singh Organizations: Service, US Navy, Pentagon, US Southern Command, Business, Getty Images, US, Kremlin Locations: Cuba, Caribbean, Helena, Guantanamo Bay, SOUTHCOM's, Los Angeles, Angeles, Havana, Kazan, United States, Havana's, Moscow, Russia, Ukrainian, Washington, Ukraine, Kyiv
Russian prosecutors announced a major step on Thursday in their case against the imprisoned American journalist Evan Gershkovich, saying they had finalized the espionage indictment against him and that he would be tried in the Russian city of Yekaterinburg, where he was arrested more than a year ago. The Russian authorities have suggested that they could be open to a prisoner swap for Mr. Gershkovich, a reporter for The Wall Street Journal, but only after a verdict is handed down. The detention of Mr. Gershkovich, the first American journalist arrested on a spying charge since the end of the Cold War, highlighted the extent to which Russia’s invasion of Ukraine has damaged relations between Moscow and Washington. In a statement, the prosecutors said they had determined and confirmed that “under instructions from the C.I.A.” and “using secrecy methods,” Mr. Gershkovich “was collecting secret information” about a factory that produces tanks and other weapons in the Sverdlovsk region.
Persons: Evan Gershkovich, Gershkovich, Mr, Gershkovich “ Organizations: Wall Street Locations: American, Russian, Yekaterinburg, Ukraine, Moscow, Washington, Sverdlovsk
We are at a critical time in Russia’s brutal and illegal invasion of Ukraine. Russia’s continued assault on the country requires that we take bold and decisive action. It is time for the United States and our allies to unlock the value of immobilized Russian assets so that Ukraine can get the financial support it urgently needs. The United States and our global coalition including the Group of 7, Europe and countries around the globe are engaged in a battle of wills with Vladimir Putin. We have equipped Ukraine with weapons, equipment and financial support.
Persons: Russia’s, Vladimir Putin, Putin Organizations: Russian Locations: Ukraine, United States, Europe, Russia, Ukrainian
Read previewA Russian warship docked off the coast of Cuba can carry advanced strike capabilities, specifically new hypersonic missiles. The Russian frigate Admiral Gorshkov arrived in Cuba on Wednesday ahead of a Caribbean air and maritime exercise after conducting drills in the Atlantic earlier in the week. Russian navy frigate Admiral Gorshkov launching a Zircon hypersonic missile in White Sea, Russia, on July 19, 2021. Hypersonic missiles are fast, highly maneuverable, and fly unpredictable flight paths and patterns that can make intercepting them extremely difficult. Russian navy frigate Admiral Gorshkov docked in the port in Richards Bay, South Africa on February 22, 2023.
Persons: , Admiral Gorshkov, Gorshkov, Goshkov, Putin, GUILLEM SARTORIO Organizations: Service, Kremlin, Business, NATO —, Russian Defense Ministry Press Service, AP, Russia's Defense Ministry, Getty, DF, ZF Locations: Cuba, Russian, Sea, Russia, Richards Bay , South Africa, AFP, China, Japan
A month into Russia’s push across the border in northern Ukraine, Western weapons and Ukrainian reinforcements have largely stalled the attack. But they came too late to save one town, Vovchansk, where the city hall, a cultural center, countless apartment blocks and several riverside hotels are all now in ruins. A small town divided by the Vovcha River, Vovchansk was once a regional tourist attraction — a pleasant base from which to explore the chalk hills nearby. But it is also three miles from the Russian border, and when Russia began a cross-border offensive on May 10, it became Ukrainian forces’ stand-your-ground position. And a month of fierce fighting and relentless bombing by Russia has decimated the town, forcing almost everyone left there to flee.
Persons: Vovchansk, , , Tetyana Polyakova Organizations: Russia Locations: Ukraine, Western, Vovchansk, Russian, Ukrainian, Russia
Here, America no longer presents itself as the confident guarantor of security, a trust-us-we’ve-got-this superpower. The terrain is too vast, China’s rise too great a threat. So the United States has been offering to be something else — an eager teammate for military modernization and tech development. “In the past, our experts would talk about a hub-and-spokes model for Indo-Pacific security,” Defense Secretary Lloyd J. Austin III said this month at a global defense conference in Singapore. “Today we’re seeing something quite different.”In this new era, many countries are doing more, on their own and with U.S. help.
Persons: Lloyd J, Austin III Organizations: , U.S, South Locations: Ukraine, Gaza, Italy, Washington, Asia, America, United States, Singapore, , Australia, South Korea, India, Japan
The Biden administration on Wednesday announced a series of new financial sanctions aimed at interrupting the fast-growing technological links between China and Russia that American officials believe are a broad effort to rebuild and modernize Russia’s military during its war with Ukraine. The actions were announced just as President Biden was leaving the country for a meeting in Italy of the Group of 7 industrialized economies, where a renewed push to degrade the Russian economy will be at the top of his agenda. The measures were coordinated by the Treasury, State and Commerce Departments and aimed to further isolate Russia from the global financial system and cut off its ability to gain access to the technology that powers its military arsenal. The effort has grown far more complicated in the past six or eight months after China, which had previously sat largely on the sidelines, stepped up its shipments of microchips, machine tools, optical systems for drones and components for advanced weaponry, U.S. officials said. But so far Beijing appears to have heeded Mr. Biden’s warning against shipping weapons to Russia, even as the United States and NATO continue to arm Ukraine.
Persons: Biden Organizations: Wednesday, Treasury, State, Commerce, NATO Locations: China, Russia, Ukraine, Italy, Beijing, United States
A United Nations commission investigating the Oct. 7 attacks on Israel and the subsequent conflict in Gaza has accused both Palestinian armed groups and Israel of committing war crimes, and the panel said that Israel’s conduct of the war included crimes against humanity. The U.N. report said that Palestinian armed groups killed and tortured people during the assaults that day. But Israel, during its monthslong campaign in Gaza to oust Hamas, has also committed war crimes, the commission said, like the use of starvation as a weapon of war through a total siege of Gaza. The commission said it had identified the people most responsible for war crimes or crimes against humanity, including senior members of Hamas and other Palestinian armed groups and senior members of Israel’s political and military leadership, including members of its war cabinet. The commission said it would continue its investigations focusing on those with individual criminal responsibility and command or superior responsibility.
Persons: , Israel, Sergey Ponomarev, Abed Khaled, repugnantly ”, Chris Sidoti, Miloon Organizations: United Nations, Navi Pillay, United, International Court of Justice, The New York Times, Aqsa Martyrs Hospital, Reuters, West Bank Locations: Israel, Gaza, United Nations, Al, Aqsa, Deir Al, Geneva, Turkey, Egypt
Two weeks after President Biden reversed himself and approved firing American weapons into Russian territory, he and his closest allies are preparing a different kind of assault, using the proceeds from Russia’s own financial assets to aid the reconstruction of Ukraine. For two years, the world’s largest Western economies have debated how to deal with $300 billion in frozen Russian assets, which the Kremlin — somewhat inexplicably — left in Western financial institutions after the Ukraine invasion began in 2022. Now, after long debates about whether the West could legally turn those assets over to the government of President Volodymyr Zelensky of Ukraine, the allies seem on the brink of a compromise, to be announced at the Group of 7 summit in Italy. The Group of 7, which comprises the world’s wealthiest large democracies, is about to agree to a loan to Ukraine of roughly $50 billion to rebuild the country’s devastated infrastructure, with the understanding that it will be paid back by interest earned on the frozen Russian assets, Western officials said. But even that amount, experts say, would only begin to make a dent in building a new Ukraine.
Persons: Biden, Volodymyr Zelensky Organizations: Group Locations: Ukraine, Italy
CNN —A United Nations inquiry into the first few months of the war in Gaza has found both Israel and Hamas committed war crimes and grave violations of international law, in the body’s first in-depth investigation into the October 7 attacks and the ensuing conflict. Rockets are launched by Hamas from the Gaza Strip towards Israel on October 7, 2023. Hatem Moussa/APIn the first 2.5 months of the conflict, the commission found, Israel committed war crimes as well as crimes against humanity – the latter defined as a widespread, systemic attack directed at a civilian population. The International Criminal Court announced last month it was seeking arrest warrants for several top Hamas and Israeli leaders, including Israeli Prime Minister Benjamin Netanyahu on charges of war crimes and crimes against humanity. “It is imperative that all those who have committed crimes be held accountable,” said commission chair Navi Pillay.
Persons: Hatem Moussa, Israel, , Israel’s, maiming, Benjamin Netanyahu, , Netanyahu, West Bank –, , Said Khatib, Mahmud Hams, Nir, Itamar Ben Gvir, Bezalel Smotrich, Benny Gantz, Yoav Gallant, Gilad Erdan, Erdan, Anwar Organizations: CNN, United, The United Nations Commission, Rockets, AP, Criminal, Palestinian, West Bank, Getty, Al, Israel Defense Forces, UN, Gaza, National, Finance, UN Human Rights, Palestinian Authority, Hamas, Human Rights, Israel, UN Security Council, Assembly, United Nations Relief, Works Agency, Anwar Amro, UNRWA, Navi Pillay Locations: United Nations, Gaza, Israel, Gaza City, Rafah, AFP, Aqsa, Israel’s, Palestinian, United States, Lebanese, Beirut, East Jerusalem
This week, the pope is due to make an historic intervention in the debate around AI at the G7 summit in southern Italy’s Puglia region. AI, the pope believes, can make the world a better place only if it serves the “common good” and does not increase inequalities. European Union lawmakers have already passed a law regulating AI, while a bipartisan group of US senators have set out plans for AI regulation that could lead to federal legislation. “AI and emerging technologies are on Pope Francis’ radar screen,” Larrey, now a professor of philsophy at Boston College, told CNN. It’s clear that Francis sees AI as part of what he called the “epochal change” taking place at the beginning of the 21st century.
Persons: Pope Francis, Francis, Joe Biden, , , Paolo Benanti, Benanti, ” Benanti, Vincenzo Paglia, Giorgia, Francis ’, Father Antonio Spadaro, Philip Larrey, Larrey, Pope Francis ’ Organizations: CNN, Catholic, Pontifical Academy for Life, Microsoft, IBM, Cisco Systems, United Nations, Food, Agriculture Organization, Union, Philosophy Department, Pontifical Lateran University, Boston College Locations: Italy’s Puglia, ” Italy, Puglia “, Puglia, Rome, Nevada
CNN —A group of Russian Navy ships, including a nuclear-powered submarine, arrived in Cuba on Wednesday morning in a sign of strengthening ties between the two Cold War allies. The four Russian ships are now docked in berths usually occupied by cruise ships. The US has also deployed air assets, including a P-8 Poseidon reconnaissance plane, to circle overhead the Russian vessels. The rescue and tugboat Nicolay Chiker, part of the Russian naval detachment visiting Cuba, arrives at Havana's harbour, June 12, 2024. According to a Cuban Armed Forces Ministry statement, none of the Russian ships are armed with nuclear weapons.
Persons: Gorshkov –, Gorshkov, Adalberto Roque, Donald Cook, Joe Biden, Nicolay Chiker, , weathers Organizations: CNN, Russian Navy, Military, Kazan, Getty Images, Russian Ministry of Defense, Russian MOD, US Navy, Coast Guard, US, Pentagon, State Department, Russian, Cuba’s Foreign, Cuban Armed Forces Ministry, Soviet Union, Cuban Missile Locations: Cuba, Russian, Havana, Spanish, Kazan, Florida, Russia, Ukraine, Havana's, AFP, Caribbean, Canada, Washington, Moscow
The Russian nuclear-powered submarine Kazan (L) and the class frigate Admiral Gorshkov, part of the Russian naval detachment visiting Cuba, arrive at Havana's harbour, June 12, 2024. Russian navy ships churned into Havana harbor on Wednesday, a stopover the U.S. and Cuba said posed no threat but which was widely seen as a Russian show of force as tensions rise over the Ukraine war. Cuba said last week that the visit was standard practice by naval vessels from countries friendly to Havana. "At no point have the ships or submarine posed a direct threat to the United States." "The visiting Russian warships are Putin's way of reminding Biden that Moscow can challenge Washington in its own sphere of influence," Leogrande said.
Persons: Gorshkov, Nikolay Chiker, Biden, Russia —, William Leogrande, Leogrande Organizations: U.S, Reuters, U.S . Naval Air Station, Russia, American University, Washington Locations: Russian, Cuba, Havana's, Havana, Ukraine, United States, Key West , Florida, Moscow
For some American voters, US support for Ukraine is a key issue. That's true for those who support aid to Ukraine and for those who believe the US is doing too much. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOne of the most defining foreign policy issues of President Joe Biden's tenure has been the war in Ukraine. This story is available exclusively to Business Insider subscribers.
Persons: Biden, Trump, , Joe Biden's Organizations: Service, Ukraine —, Congress, Business Locations: Ukraine, Russia
Speaking at an Everytown for Gun Safety event under a banner that read “Gun Sense University” in large block letters, the president did not reference his son’s conviction. Hunter Biden was pronounced guilty earlier in the day of three felony charges after a jury found he lied on a form by saying he was not abusing drugs when he purchased a firearm in 2018. Nothing will ever change that.”The painful moment for the Biden family comes a day before President Biden is expected to leave for a three-day trip to Italy for the G7 summit. As the trial was underway last week, Biden was in France commemorating D-Day. He also frequently touts signing the Bipartisan Safer Communities Act, which was the first significant gun safety legislation in a quarter-century when it was passed.
Persons: Joe Biden, Hunter Biden, Biden, Jill, ” Biden, Hunter, Jill Biden, , we’ve, Donald Trump, Trump, , CNN’s Kevin Liptak Organizations: Washington CNN, White House, Safer Communities, NRA Locations: Wilmington, Italy, France, Delaware, Texas, New York
"For me, in so many ways, it's rewarding because it's brought me, again, full circle," Thomas told Lamb. Related storiesWhen neither placement prevented Martin from acting out with minor drug use and other petty crimes, the Thomases cut him off, Martin told BI. AdvertisementLast summer, according to court records reviewed by BI, Martin was arrested on charges of drug trafficking and weapons possession. Martin says he was eventually expelled from Randolph-Macon Academy for failing a drug test as a junior in high school. "I actually don't know if they know that I'm locked up — I'm not sure they'd care too much," Martin told BI.
Persons: , Clarence Thomas, Ginni, Mark Martin, Thomas, Emma Mae Martin, Clarence, Ginni Thomas, He's, Harlan Crow, Martin, I've, Brian Lamb, it's, Lamb, Mark, ProPublica, Crow, Crow's, Myers Anderson, Anderson, SPAN Martin, Martin's, they'd, he'd, I'm, — I've Organizations: Service, Supreme, Business, BI, Detention, SPAN, Randolph, Macon Academy, Hidden Lake Academy, Lake Academy, Conception Seminary College Locations: Virginia, Jasper, South Carolina, Macon, Bali, California, Randolph, Georgia
Read previewRussia is fumbling a golden opportunity in Ukraine as its latest offensive stalls, experts told Business Insider. The monthslong Republican delay over a new tranche of US military aid had left Ukrainian forces desperately short of ammo and equipment. AdvertisementBut it's likely Putin had other goals — and he may have succeeded in some of them, Bury told BI. Even so, it looks like Russian forces were quickly overextended and poorly protected, The Telegraph reported. "The Kharkiv offensive, even if it wasn't what the Russians have hoped for, ultimately in many ways it served its purpose," said Reynolds.
Persons: , John Kirby, Patrick Bury, Vladimir Putin, readying, Jake Epstein, Chasiv Yar, Putin, Ann Marie Dailey, it's, Bury, Rob Lee, Nick Reynolds, Volodymyr Zelenskyy, Dailey, Putin's, Joe Biden —, Reynolds, Russia's Organizations: Service, White House National Security Communications, Business, UK's University of Bath, Republican, of Defence, BBC, Washington Post, RAND, Policy, Telegraph, Royal United Services Institute, for, Kyiv Post, Bury, Politico, Kharkiv, Russia's Kharkiv Locations: Ukraine, Kharkiv, Russia, Ukrainian, Vovchansk, Russian, Belgorod, Kyiv, Ukraine's, Sumy
A jury in Wilmington, Del., on Tuesday found Hunter Biden, President Biden’s son, guilty of three felony counts for lying on a federal firearms application, a shattering blow for the Biden family in the middle of an unforgiving presidential election campaign. The verdict brought an end to an extraordinary seven-day trial that made painfully public Mr. Biden’s crack addiction, reckless behavior and ruinous spending — narrated by three former romantic partners, including the widow of his brother, Beau Biden, and by the defendant himself in the pages of his memoir. The charges that Mr. Biden was convicted of stem from the purchase of a Colt pistol in October 2018, and also included illegal possession of a weapon after falsely claiming to be drug-free on the standard background check required in all firearms transactions. Mr. Biden, 54, faces up to 25 years in prison, although federal sentencing guidelines call for a fraction of that penalty. First-time offenders who did not use their weapons to commit violent crimes typically see little jail time, and prosecutors suggested they would not seek a sentence more severe than for any other person convicted in such a case.
Persons: Hunter Biden, Biden’s, Biden, Beau Biden, Mr Locations: Wilmington, Del
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