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The idea of using Russia's frozen assets is gaining new traction lately as continued allied funding for Ukraine becomes more uncertain and the U.S. Congress is in a stalemate over providing more support. Bipartisan legislation circulating in Washington called the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act would use assets confiscated from the Russian Central Bank and other sovereign assets for Ukraine. Belgium, which is holding the rotating presidency of the European Union bloc for the next six months, is now leading the talks on whether to seize Russia's assets. Belgium is also the country where most frozen Russian assets under sanctions are being held. Maria Snegovaya, a senior fellow at the Center for Strategic and International Studies, cautioned that if Ukraine's immediate needs aren't met, “no amount of seized Russian assets is unfortunately going to compensate for what may happen."

Persons: — It's, Volodymyr Zelenskyy, “ Putin, ”, ” Biden, Penny Pritzker, “, Nicholas Mulder, Vladimir Putin, Shalanda Young, ” Young, ” Sergey Aleksashenko, Treasuries —, Konstantin Malofeyev, Alexander De Croo, De Croo, Maria Snegovaya, aren't, Ellen Knickmeyer, Lisa Mascaro, Seung Min Kim, Zeke Miller, Aamer, Sam Petrequin, Jamey Keaton Organizations: WASHINGTON, Russian Central Bank, U.S ., U.S, ., ”, Ukraine, Russia, Cornell University, Washington, Russia's Central Bank, White, Management, Russian Central Banker, Russian, Justice Department, State Department, European Union, Belgian, Center for Strategic, International Studies, Associated Press Locations: United States, Ukraine, Davos, Switzerland, Ukrainian, Washington, “, America, Russia, Russian, U.S, China, Frankfurt, Belgium, Brussels

☆ Swedish union blocks Tesla components as dispute intensifies
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +3 min

Around 50 workers that make specialized Tesla components at Hydro Extrusions, a subsidiary of Norwegian aluminium and energy company Hydro, will either stay at home or be given other tasks from Friday until further notice, the IF Metall union said. IF Metall, Sweden's biggest manufacturing union, is locked in a fight with Tesla to get a collective bargaining agreement for its 130 mechanics in Sweden. The U.S. carmaker has a policy to not sign collective bargaining agreements and says its employees have as good or better terms than what the Swedish union is demanding. The union says it is vital to the Swedish labour market model that all companies have collective agreements. Around 90% of all employees in Sweden are covered by collective bargaining agreements, which regulates wages, vacation, overtime pay and other conditions.

Persons: Veli, Pekka Saikkala, Tesla, Metall, Saikkala, carmaker, Torbjorn Johansson, Elon, Johansson, Johan Ahlander, Marie, Victoria Waldersee, Susan Fenton Organizations: Tesla, Hydro Extrusions, Hydro, IF Metall, Metall, LO, Marie Mannes, Thomson Locations: Berlin, Europe, Sweden, U.S, Stockholm, Victoria

☆ Australia wants to diversify its relationship with China: 'That doesn't mean trading any less'
▼ + stars: | 2023-10-31 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Australia wants to diversify its trading relationship with China, but that doesn't mean trade flows will slow down, Australian Trade Minister Don Farrell told CNBC. "We want to stabilize our relationship with China... we also want to diversify our relationship," Farrell told CNBC's Martin Soong on the weekend in Osaka, Japan where G7 trade ministers met. "That doesn't mean trading any less with China. But it does mean trading more with the countries with whom we have free trade agreements," he added, citing those in the European Union bloc. Canberra is also in dialogue with its largest trading partner China to drop tariffs on Australian wine imports that were introduced in March 2021.

Persons: Don Farrell, Farrell, CNBC's Martin Soong Organizations: Australian Trade, CNBC, European Union Locations: China, Osaka, Japan, Australia, Canberra, Beijing

BERLIN (AP) — Chancellor Olaf Scholz says Germany needs to start deporting “on a large scale” migrants who don't have the right to stay in the country, adding to increasingly tough talk on migration since his coalition performed badly in two state elections earlier this month. Mainstream conservatives won both votes and the far-right Alternative for Germany made significant gains. Last week, Scholz announced legislation to ease deportations of unsuccessful asylum-seekers. On Monday, the government notified the European Commission of temporary border controls at the Polish, Czech and Swiss frontiers. He argued that there needs to be a “fundamental turnaround in migration policy.”Asked what the chancellor thought of that idea, Scholz spokesperson Steffen Hebestreit replied: “Nothing.”

Persons: —, Olaf Scholz, Der Spiegel, Scholz, Friedrich Merz, ”, Markus Soeder, Steffen Hebestreit Organizations: BERLIN, Der, European Commission, environmentalist Greens, Free Democrats —, Union bloc Locations: Germany, Czech, Swiss, Bavarian

Both states are led by the country's main opposition Union bloc, made up of the Christian Democratic Union and the Bavaria-only Christian Social Union. In Hesse, they give the CDU a double-digit lead in a three-way contest for the governor's office among the conservative party, Scholz's center-left Social Democrats and the environmentalist Greens. Scholz’s government also faces intense pressure to reduce the number of migrants arriving, a major issue in the run-up to the elections. Green challenger Tarek Al-Wazir, currently the deputy governor to conservative incumbent Boris Rhein, also faces an uphill struggle. Soeder is widely considered a potential candidate to challenge Scholz in 2025, although he has denied such ambitions.

Persons: Chancellor Olaf Scholz's, Scholz, won’t, —, Karl, Rudolf Korte, Nancy Faeser, Tarek Al, Wazir, Boris Rhein, Markus Soeder, Soeder, Hubert Aiwanger, Aiwanger — Organizations: BERLIN, Sunday, Union, Christian Democratic Union, Christian Social Union, CSU, CDU, Social Democrats, environmentalist Greens, Germany, Greens, Free, Welt, Sonntag, ” Voters, Free Democrats, Free Voters Locations: Bavaria, Hesse, Frankfurt, Scholz's

☆ Two German state elections expected to bring wins for conservative national opposition
▼ + stars: | 2023-10-08 | by ( ) www.cnbc.com time to read: +4 min

Both states are led by the country's main opposition Union bloc, made up of the Christian Democratic Union and the Bavaria-only Christian Social Union. In Hesse, they give the CDU a double-digit lead in a three-way contest for the governor's office among the conservative party, Scholz's center-left Social Democrats and the environmentalist Greens. Scholz's government also faces intense pressure to reduce the number of migrants arriving, a major issue in the run-up to the elections. Green challenger Tarek Al-Wazir, currently the deputy governor to conservative incumbent Boris Rhein, also faces an uphill struggle. In Bavaria, governor Markus Soeder is calling for voters to back "continuity and stability."

Persons: Chancellor Olaf Scholz's, Scholz, —, Karl, Rudolf Korte, Nancy Faeser, Tarek Al, Wazir, Boris Rhein, Markus Soeder, Soeder, Hubert Aiwanger, Aiwanger — Organizations: Sunday, Union, Christian Democratic Union, Christian Social Union, CSU, CDU, Social Democrats, environmentalist Greens, Germany, Greens, Free, Welt, Sonntag, Voters, Free Democrats, Free Voters Locations: Bavaria, Hesse, Frankfurt, Scholz's

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