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The US Treasury and State Department has issued new sanctions against entities still helping Russia. The Treasury warned that secondary sanctions could target nations hosting Russian bank branches. Go to newsletter preferences Thanks for signing up! AdvertisementThe US has taken fresh aim at Russia's wartime economy with another wide-sweeping sanctions package, targeting sources that help sustain Moscow's fight in Ukraine. On Friday, The Treasury and State Department announced restrictions against 400 individuals and entities worldwide, including in China, Turkey, and Switzerland.
Persons: , Wally Adeyemo Organizations: US Treasury, State Department, Treasury, Service, Business Locations: Russia, Ukraine, China, Turkey, Switzerland
Modi Arrives in Kyiv as Ukraine Pushes Diplomacy
  + stars: | 2024-08-23 | by ( Andrew E. Kramer | ) www.nytimes.com   time to read: 1 min
Prime Minister Narendra Modi of India arrived in Kyiv on Friday, furthering a long diplomatic effort by Ukraine to engage non-Western nations in potential settlement talks in the war with Russia. While many leaders of countries backing Ukraine, including President Biden, have visited Kyiv, Mr. Modi’s trip is the highest-profile wartime visit of a leader of a nation with a neutral stance on the conflict. Ukrainian officials have said that they do not see a mediating role for India, but they portrayed Mr. Modi’s visit as a welcome show of support for their country during the war. The visit is a first by an Indian leader since Ukraine gained independence in 1991. In comments to reporters in Poland before traveling into Ukraine, Mr. Modi said he intended to discuss the war.
Persons: Narendra Modi, Biden, Modi’s, Modi Organizations: India, Mr Locations: Kyiv, Ukraine, Russia, India, Poland
The relaunched Hamburg Bunker is now packed with two restaurants, a five-story Hard Rock Hotel and a newly built pyramid-like rooftop bar and garden from which greenery flows abundantly over the concrete facade. The hotel also has the kind of modern details you’d expect in any self-respecting hip hotel, such as self check-in, smart technology and co-working spaces. On the ground level, there’s the Constant Grind coffee shop and bar, and a Rock Shop for those seeking Hard Rock merch. Ulrich Perrey/dpa/picture alliance/Getty ImagesThe challengeThe Hamburg bunker was one of eight flak towers – above-ground anti-aircraft bunkers which doubled as air raid shelters - which Germany built after British air raids on Berlin in 1940. The history the Hamburg Bunker wears is heavy, but a 76,000-tonne concrete behemoth with walls 2.5 meters thick can’t be easily demolished or ignored.
Persons: Pauli, Adolf Hitler’s Nazi, Karo, Paul, Frank Rosin, Ulrich Perrey, ” Anita Engels Organizations: CNN, Beatles, Alexa, Shop, Sala, Hamburg, AFP Locations: Pisa, Hamburg, Germany, German, Berlin, Berlin’s, Nazi, Hilldegarden
Russia's consumer sentiment hit a high in June as its wartime economy boosted spending. The sentiment index has risen since April 2022, despite the Ukraine invasion. Go to newsletter preferences Thanks for signing up! In June, Russia's consumer sentiment hit a high not seen since the 2000s, according to Levada Center, Russia's last major independent pollster. Levada's consumer sentiment index has been moving steadily upward since April 2022, barely two months after Russia invaded Ukraine on February 24, 2022.
Persons: Organizations: Service, Levada Locations: Ukraine, Russia
US small drone production may not be ready to meet wartime needs, Defense One reported. The frequent use of drones in the Russia-Ukraine war has put drone production under the spotlight. Experts say the US needs to boost drone demand to increase production and close the gap with China. AdvertisementDespite the prevalence of small drones on the modern battlefield, the US is likely not producing enough of the technology to meet potential wartime needs, a report by Defense One said. While Russia has relied heavily on drones like the Iranian-made Shahed-136, Ukraine has found sucess with small first-person-view (FPV) drones — consumer drones that Ukrainian forces adapt for combat.
Persons: Organizations: Defense, Service, Business Locations: Russia, Ukraine, China
Among those headed back to Russia are convicted hackers and several Russian nationals detained in the West for spying. And the biggest prize for Russia was the return of Vadim Krasikov, a convicted hitman whose release had been publicly sought by Russian President Vladimir Putin. Anna Chapman, one of 10 Russian sleeper agents deported from the US in a 2010 prisoner swap, was also feted on her return to Russia. Britain blamed the poisoning on Russia; Russia has consistently denied involvement, although Putin referred to Skripal as a “scumbag” and a “traitor,” his contempt suggesting that Skripal had gotten his just desserts. The release of Russians in the swap means that Russia’s political climate is no less repressive.
Persons: Evan Gershkovich, Paul Whelan, Alsu Kurmasheva, Vladimir Kara, John le, Vadim Krasikov, Vladimir Putin, Krasikov, Zelimkhan, Tucker Carlson, Putin, Khangoshvili, ” Krasikov, Viktor Bout, Brittney, US Department of Justice –, Bout, Anna Chapman, Chapman, , Sergei Skripal, Skripal, Yulia, Novichok, Frank Augstein, Alexander Litvinenko, Litvinenko, Andrei Lugovoi, Dmitri Kovtun –, Lugovoi, Alexey Navalny, Navalny, Roman Abramovich, Hillary Clinton, Murza –, , Alexandra Skochilenko Organizations: CNN, Wall Street, Russia, Berlin Police, US Department of Justice, Hollywood, St ., Economic, Russian, Kremlin, European, of Human Rights Locations: American, Ukraine, Russia, Chechen, Berlin, Russian, St, St . Petersburg, United Kingdom, English, Salisbury, Britain, England, British, Moscow, Washington, United States
The Sudanese army spokesman, Nabil Abdallah, told the BBC that General al-Burhan had survived an assassination attempt, and blamed it on the Rapid Support Forces, the paramilitary group that has been battling the army for power for 15 months. A military spokesman could not be reached for comment. In statements posted on social media, the military did not say whether General al-Burhan had been hurt or where he was during the attack. But it posted videos showing him interacting with the soldiers and members of the public before and after the graduation ceremony. The paramilitary group’s media office did not immediately respond to a request for comment.
Persons: Abdel Fattah al, Burhan, Nabil Abdallah, al Organizations: Sudanese, BBC, Rapid Support Forces Locations: Gebeit, Port Sudan
Further unrest was expected on Tuesday, when a military court is expected to decide whether to extend the soldiers’ detentions. Since the start of the war, the Israeli military has captured at least 4,000 Gazans, mostly from inside Gaza, and brought them to Sde Teiman, a military base in southern Israel, for detention and interrogation. Former detainees and some Israeli soldiers have said that guards routinely abuse Gazans held at Sde Teiman; at least 35 detainees have died either at the site or shortly after leaving it. Video Israeli protesters broke into the Sde Teiman military base in support of the detained reservists. Neither the professor nor the Israeli military would confirm that claim.
Persons: Sde, Israel, Sde Teiman, Yoel Donchin, Donchin, Nati Rom, Honenu, Benjamin Netanyahu’s, , ” Naftali Bennett, ” Mr, Bennett, Hanoch Milwidsky, , Gabby Sobelman Organizations: Video Locations: Israel, Gaza, Lebanon, Israeli, Sde, Beit, Rehovot
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewA new high-profile report on US national defense acknowledged that the Pentagon could deplete its munitions within "three to four weeks" in a protracted war with China. Some important munitions, such as anti-ship missiles, could last only a few days, the commission warned. As an example, they cited a 2022 report from the Royal United Services Institute about the war in Ukraine. Defense industry 'grossly inadequate' even in peacetimeThe US commission warned that defense production as a whole is in bad shape, saying the wider industry doesn't have the capacity to meet national needs even in peacetime.
Persons: Organizations: Service, Business, Army, Democratic, Center for National American Security, Royal United Services Institute, Defense, Department Locations: China, Russia, Ukraine, United States, Donbas, Iran, North Korea
On Friday, the Russian central bank warned — yet again — of an overheating economy when it hiked rates from 16% to 18% in an attempt to rein in price gains. This suggests that overheating in the economy has remained considerable," said Elvira Nabiullina, Russia's central bank governor, on Friday during her rate hike announcement. Russians are traveling and spending on culture and hotelsThe rate hike from Russia's central bank comes amid a spending boom in the country where many appear to be spending very freely, even amid the war and Western sanctions, as the Financial Times reported on Friday. Russia's central bank may hike rates again if necessaryNabiullina said on Friday that Russia's GDP will grow 3.5% to 4% this year from a year ago. The central bank next meets on September 13.
Persons: , Elvira Nabiullina, they're, Sergei Ishkov, Sawicki, Nabiullina, it's Organizations: Service, Business, Financial Times, Labour Locations: Russia, Russian, Russia's, Ukraine, Moscow, stoke
Some Russian elites are challenging the central bank's potential interest rate hike to 18%. Russia's key interest rate is at 16% after a series of hikes to tame elevated inflation and a hot wartime economy. AdvertisementSome of Russia's business elites appear to be getting impatient with the country's wartime economy. Several influential individuals have come out to publicly challenge the Russian central bank's signal that it's likely to hike interest rates on Friday. Russia's key interest rate already stands at 16%.
Persons: Organizations: Service, Reuters, Business Locations: Russian, Ukraine
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Sanctions are instead straining Russia, and could do more if the West is patient enough, a group of eight European finance ministers jointly argued in The Guardian. Large financial stimulus is the chief tailwind keeping Russia resistant, but the ministers noted that isn't an endless pillar of support. The eight ministers argued that these conditions make Western sanctions more important than ever, adding that pressure should be cranked up on Russia. They noted that if the West is patient enough, Russia's confidence will eventually slump as long-term damage takes hold.
Persons: Organizations: Service, Guardian, Business, Kremlin Locations: Moscow, Russia, Ukraine, Sweden, Poland, Netherlands, Soviet Union, Belarus, Asia
But as detailed ceasefire negotiations aimed at turning a framework agreement into a final deal stretch into their third week, Netanyahu’s visit will still be critical to the prospects of a ceasefire in Gaza. Senior US officials say a deal is within reach, but the prospects of a deal may hinge on the answer to one key question: Does Netanyahu actually want a deal? And the right-wing coalition partners keeping him in power have threatened to bolt if Netanyahu cuts a deal that ends the war. And publicly, his rhetoric has undermined confidence in Israel’s commitment to reaching a deal that could end the war. And Netanyahu’s allies insist he is earnest in his desire to strike a hostage release deal – just the right deal, one that could allow Israel to resume fighting in Gaza.
Persons: Benjamin Netanyahu, , Joe Biden’s, Netanyahu’s, Netanyahu, rebuffing, Biden, Antony Blinken, Joe Biden, Brendan Smialowski, Health –, Ronald Reagan, Donald Trump, Will Lanzoni, Netanyahu –, , Israel, Bibi, ” Trump, Barak Ravid, ” Netanyahu Organizations: Israel CNN, Israeli, Gaza . Senior, Getty, Israel’s, Palestinian Ministry, Health, White, Israel, Republican, Convention, CNN, Trump, Republican National Convention Locations: Tel Aviv, Israel, Washington, Gaza ., Gaza, Israel’s, Egypt, AFP, Rafah, Milwaukee , Wisconsin
But only if the battered Ukrainian Air Force is capable and willing to drastically change the way it fights in the middle of the war. Finally, Ukrainian Air Force leadership must be incorporated into the Ukrainian General Staff to foster and facilitate integrated, all-domain concepts, planning, and employment." "The bottom line is that it will not be easy," Deptula, a retired US Air Force lieutenant general, told Business Insider. "It will take years for the Ukrainian military culture to shift from the model based on their Soviet military history, to Western military doctrine." For example, ground-based artillery and rockets can destroy Russian air defense systems, which enables Ukraine's air force to operate over the battlefield, and thus provide close air support to the army.
Persons: David Deptula, Christopher Bowie, Nichols, Goldwater, interservice, , Mitchell, Deptula, Michael Peck Organizations: Service, Ukrainian Air Force, Ukrainian Armed Forces, Mitchell Institute, Ukrainian, Staff, US Air Force, Russian Air Force, Goldwater, Navy, Joint Chiefs, Missions, Army, Marines, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Ukraine, Russia, Soviet, Grenada, Ukrainian, Forbes
The Chinese yuan has become a key currency for Russia's trade settlement. But tightened US sanctions are freezing and delaying yuan payments, Bloomberg reports. AdvertisementWestern sanctions have shut Russia out of the dollar-dominant global financial order, but the country has managed to keep its wartime economy humming thanks to the Chinese yuan. But even this line of trade looks like it's starting to get shut down, Bloomberg reported on Wednesday. Several unnamed major Russian commodity exporters told Bloomberg that trade with China has become increasingly difficult as even direct payments made in the yuan are getting frozen or delayed.
Persons: Organizations: Bloomberg, Service, Business Locations: Russia, China
Read previewLeaders across the world have come out in support of former President Donald Trump after he survived an assassination attempt at a rally in Pennsylvania on Saturday. AdvertisementIsraeli Prime Minister Benjamin NetanyahuIsrael's Prime Minister, Netanyahu, said that he and his wife were "shocked" by the incident and that they were praying for Trump's recovery. Advertisement"Although we don't yet know exactly what happened, we should all be relieved that former President Trump wasn't seriously hurt," he wrote on X. Indian Prime Minister Narendra ModiIndia's Prime Minister said he was concerned about the attack on his "friend" and strongly condemned the incident. Dutch Prime Minister Dick SchoofSchoof expressed relief that Trump's injuries were seemingly minor and wished him a quick recovery.
Persons: , Donald Trump, Thomas Matthew Crooks, Crooks, Trump, Joe Biden, Barack Obama, Biden, Donald Trump’s, Jill, Kamala Harris Kamala Harris, Keir Starmer, Benjamin Netanyahu Israel's, Netanyahu, Sara, — Benjamin Netanyahu, בנימין, Justin Trudeau Canada's, Emmanuel Macron Macron, Volodymyr Zelenskyy Ukraine's, Barack Obama Obama, Trump wasn't, Trump wasn’t, … — Barack Obama, Olaf Scholz Olaf Scholz, Narendra Modi, Modi, Giorgia Meloni Meloni, il, degli, durante, pronta, , Fumio Kishida Japan's Kishida, Shinzo Abe, Anthony Albanese Albanese, Albanese, Dick Schoof Schoof, Viktor Orbán Orbán Organizations: Service, FBI, Business, Secret, Trump, UK, Indian, Narendra Modi India's, Italian, Dutch Locations: Pennsylvania, Bethel Park , Pennsylvania, Canada, France, Israel, Ukraine, America, Germany, dalla Pennsylvania, Mar
The British Army has shrunk to its lowest level since the early 1800s. That's a far cry from the Chinese army of 2 million soldiers, Russia's 1.3 million, or the 460,000 active-duty troops of the US Army. "As things stand, the British Army is a one-trick pony," Nicholas Drummond, a British defense expert and former infantry officer, told Business Insider. AdvertisementIn 1989, the British Army had 156,000 soldiers, or more than twice its present size. "Right now, the British Army cannot generate a single division, let alone two," Drummond said.
Persons: , Napoleon, Nicholas Drummond, Rudyard Kipling, Tommy, Chuck, Drummond, Keir Starmer, Conservative government's, It's, Michael Peck Organizations: Service, British Army, US Army, Business, Britain's Army, NATO, Royal Navy, Treasury, Army, Labor, Conservative, Royal Air Force, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Romania, Bangladesh, Canada, Armenia, Russia, Washington, DC, Ukraine, British, Forbes
Among the wartime additions to Ukraine's arsenal is the US-made Bradley fighting vehicle, a formidable asset that continues proving its worth on the battlefield several decades after it first saw combat. A 'very effective' infantry fighting vehicleThe Bradleys were built as a response to the Soviet infantry fighting vehicles and entered service in the 1980s. A Bradley fighting vehicle from the US Army 2nd Armored division drives through Saudi Arabian desert on Jan. 18, 1991. Hassani RiberaThe Bradley infantry fighting vehicle is lighter than an Abrams tank by roughly 40 tons. Ukrainian soldiers on a Bradley infantry fighting vehicle near Avdiivka on Feb. 23, 2024.
Persons: , Bradley, Abrams, Kyiv didn't, Mark Cancian, Sadayuki Mikami, Ukraine's Abrams, Bradley isn't, Ribera, Tayler P, Schwamb, Pat Ryder, Bradleys, Cancian, What's, scrappy, GENYA SAVILOV Organizations: Service, Russia, Business, Abrams, Kyiv, US Marine Corps, US Army 2nd, AP, Bradley, US Army, Pentagon, Ukraine, Army, US Army National Guard, Spc, M1A2 Abrams, Tank, Marine Corps Base, 47th Mechanized Brigade, Center for Strategic, International Studies, intel, Getty, XM30 Mechanized Infantry, US, 47th, Mechanized Brigade Locations: Ukraine, US, Iraq, Saudi, Kyiv, Trzebien, Poland, Pendleton, Ukraine's Donbas, Anadolu, Avdiivka, Afghanistan, Ukrainian, Bradley, Western
It was the third navy ship Iran has lost in an accident since 2018. AdvertisementIn June 2021, it lost the 680-feet-long Kharg support ship, the Iranian Navy's largest by tonnage, in a fire, injuring 33. Furthermore, it could also "be a small reflection of government prioritization" of the Islamic Revolutionary Guard Corps Navy over Iran's Navy. "Budgets are training, maintenance, and personnel." Iran has two navies: its Navy, known as the Islamic Republic of Iran Navy, and the naval arm of the powerful Islamic Revolutionary Guard Corps paramilitary organization.
Persons: , Bryan Clark, Clark, Steven Horrell, Horrell, Damavand, Shahid Hassan Bagheri, Morteza Nikoubazl, Hudson's Clark, Nadimi Organizations: Service, Iran's Navy, Business, Hudson Institute, Transatlantic Defense, Security, Center for, UK, Islamic Revolutionary Guard Corps Navy, Navy, Islamic Republic of Iran Navy, Islamic Revolutionary Guard Corps, IRGC Navy, US Navy, Supreme, IRIN, Washington Institute for Near East Locations: Bandar Abbas, Iran, Iranian, Bandar, United Kingdom, Islamic Republic of, Hormuz
Read previewNATO is moving forward with a new initiative that will see it take greater control over Western efforts to arm and train Ukraine's military. The move comes as the alliance aims to solidify the long-term support for Kyiv as it battles the Russian invasion. Growing concern about the potential change in US leadership has hung over the highly consequential NATO summit in Washington this week. Ukraine's President Volodymyr Zelenskyy and US President Joe Biden at the 2024 NATO summit. "There are 32 countries in the alliance," the NATO official who spoke on the condition of anonymity said Thursday.
Persons: , Donald Trump —, Donald Trump, NICHOLAS KAMM, Volodymyr Zelenskyy, Joe Biden, Susan Walsh, Trump, Ivo Daalder, Laurynas Organizations: Service, Kyiv, NATO, Ukraine —, Business, Wednesday, Assistance, Training, White, Getty, Ukraine Defense Contact, AP, Ukraine, Russian, Trump, Wall Street, Kiel Institute, Politico, Republican, Democratic Locations: Russian, Ukraine, Washington, Germany, Poland, Romania, Slovakia, Kyiv, Russia, Europe, NATO
Russia's economy is boosting wealth for of oligarchs, some of whom are sanctioned. A dozen Russian tycoons pocketed $11.4 billion in dividends for all of 2023 up until the first quarter of 2024. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRussia's wartime economy has not only made some poor people better off — some of Russia's oligarchs are getting richer, too. This story is available exclusively to Business Insider subscribers.
Persons: Organizations: Service, Bloomberg, Business
In the French Countryside, a Deep Discontent Takes Root
  + stars: | 2024-07-06 | by ( Roger Cohen | ) www.nytimes.com   time to read: +1 min
Last month, Sophie-Laurence Roy, a conservative Paris lawyer with roots in Burgundy, decided to cross the political dividing line that defined postwar France and dedicate herself to a nationalist, far-right political movement that seems poised to dominate parliamentary elections on Sunday. “I realized I would reproach myself for the rest of my life if I did not offer my services to the great movement of change that is the National Rally,” she said as she ate a sausage of pork intestines in a cafe in Chablis, the northern Burgundy town known for its fine white wine. “It was now or never.”So, on June 9, Ms. Roy, 68, deserted her longtime center-right political family, the Republicans, who trace their beliefs to the wartime hero Charles de Gaulle, to support Marine Le Pen’s far-right party whose quasi-fascist roots lie with the collaborationist Vichy regime against which De Gaulle fought to liberate France.
Persons: Sophie, Laurence Roy, , , Roy, Charles de Gaulle, De Gaulle Organizations: National, Republicans Locations: Paris, Burgundy, France, Chablis, Vichy
Russia's President Vladimir Putin meets with Hungary's Prime Minister Viktor Orban at the Kremlin in Moscow on July 5, 2024. Russia's closest European ally, Hungarian Prime Minister Viktor Orban, has drawn ire from the EU over his Friday trip to meet Kremlin leader Vladimir Putin in Moscow. Orban's trip to Moscow has also drawn the wrath of European officials, who questioned his authority to represent the bloc. Also referencing Orban's visit, European Commission President Ursula von der Leyen warned that "appeasement will not stop Putin. Only unity and determination will pave the path to a comprehensive, just and lasting peace in Ukraine."
Persons: Vladimir Putin, Viktor Orban, Orban, Putin, Volodymyr Zelenskyy, Zelenskyy, " Orban, Josep Borrell, Ursula von der Leyen, Donald Trump Organizations: Hungary's, Kremlin, EU, NATO, Reuters, Ukrainian Foreign Ministry Locations: Moscow, Russia's, Hungarian, Ukraine, Hungary, Russia, Europe, Brussels, EU
Read previewRussia's invasion of Ukraine has resulted in a surge in demand, orders, and manufacturing of Western weaponry, including decades-old equipment and even gear that had gone out of production. The result is more orders and manufacturing, even of Western equipment where production had stopped. Its maker, Lockheed Martin, is increasing production as well as its production of the antitank missile system. Russia has also ramped up its wartime production, which could aid it in the future and not just against Ukraine. One solution would have been countries ramping up their orders and production earlier in the war, Di Mizio said.
Persons: , it's, Jan Kallberg, hasn't, Lockheed Martin, Diehl, Timothy Wright, Mark Cancian, Vladimir Putin, Mikhail Klimentyev, Mattias Eken, Cancian, Diego Herrera Carcedo, Giorgio Di Mizio, Kallberg, Di Mizio Organizations: Service, Business, Manufacturing, Center for, Army Cyber Institute, US Army, Air Missile System, High Mobility Artillery Rocket Systems, Getty, IRIS, Patriot, International Institute for Strategic Studies, Financial Times, Center for Strategic, International Studies, Russia Western, Military, Sputnik, REUTERS, Ukraine, Russia, RAND Corporation, Anadolu Agency Locations: Ukraine, Russia, West, Norway, Europe, Bakhmut, Donetsk Oblast, France, Kremlin, REUTERS Russia
People celebrate exit poll results at a "Stop The Tories" election afterparty in London, on July 4. Suzanne Plunkett/ReutersThe United Kingdom’s decision to hand the center-left Labour Party a parliamentary majority, according to the exit poll, comes at the same time Europe is broadly in the grip of what some call a right-wing populist surge. Last month’s European elections saw a historic number of lawmakers from hard-right and far-right parties elected to the European Parliament. Farage’s political success to date has all come without him holding a parliamentary seat. An odd quirk of British politics is that the percentage of votes a party gets doesn’t necessarily translate to seats.
Persons: Suzanne Plunkett, Emmanuel Macron, Benito Mussolini, Euroskepticism, Nigel Farage, Donald Trump, Keir Starmer, Starmer’s, Farage, Starmer Organizations: United, Labour Party, Parliament, European, Conservative Party, Reform, Conservatives, Labour Locations: London, Europe, Netherlands, Italy, Britain, British
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