Ukraine EU financial support package for greener and safer reconstruction of ’

As Ukraine continues to fight for freedom, the country's economy is faltering and GDP is in ’de %With a decline of 30.4’, it is experiencing its sharpest decline in more than 30 years.

The European Union has provided financial and military assistance to Ukraine’ in the last 12 months, keeping Ukraine’ a symbol of European solidarity and security from Russia’, even paving the way for its future accession to AB’ after Ukraine’ granted candidate status in June 2022’.

On 2 February ’ in Kiev’de, together with 15 European Commission members, European Commission President Ursula von der Leyen said: “Europe has been with Ukraine since day one, because we know that the future of our continent is written here.’

This is after AB’ announced a new assistance package of 450 million Euro’ for 2023, bringing the total financial support provided to Ukraine’ from AB’den, Member States and European financial institutions to around 50 billion Euro’.

Where has the money gone so far?

The €50 billion provided by the EU, European financial institutions and Member States comes in different forms and is spent in various areas, including humanitarian aid, military aid, Macro-Financial Aid and loans.

Macro Financial Assistance is a form of assistance to EU partner countries experiencing a balance of payments crisis and is used to finance government spending such as pensions, salaries, education and infrastructure repair.

The EU also has 35 million LED bulbs and 5400 generators to help alleviate ’'s energy crisis, as well as ’ pledged to donate equipment to help repair the power grid destroyed by Russian missile strikes.

Cost of War

The World Bank estimates that the cost of Ukraine’ya in terms of economic recovery and reconstruction of infrastructure will be about 320 billion euros.

Much of this economic collapse has to do with the mobilization of workers, which has disrupted key industries such as agriculture and exports, to which the Ukrainian economy depends.

But according to Ukrainian analyst Olena Bilan’ from Dragon Capital’, the economy is surprisingly resilient given the challenges the country faces.

Olena Bilan, chief economist at Dragon Capital’ (left); Sasha Vakulina, Euronews correspondent (right)

In the first weeks of the war, half of the economy was not working. But then we saw a fairly rapid recovery in economic activity. This lasted until October, when Russia’ began a terrorist attack on Ukraine’'s energy infrastructure.”

Despite this, Bilan added that with the acquisition of “generators, accumulators and starlinks by companies, ” Ukrainian people and businesses are able to adapt to the challenges posed by electricity shortages.

Aid and investment for 2023

In addition to aid, the European Union has committed to lending only €18 billion in 2023’te with favorable credit conditions.

The funds will be distributed in several installments and will depend on the terms set out in the Memorandum of Understanding between Brussels and Kiev, which sets out its commitment to the rule of law reforms, economic liberalisation and anti-corruption.

Olena Bilan, Euronews’e Ukraine’ needs to take more steps towards “reform to recover, and ” added that Ukrainian authorities need to show genuine willingness and willpower to reduce corruption.

News Kiev’de was well received; Deputy Prime Minister of Ukraine Olha Stefanishyna said that this latest “important ” EU aid package provided “netlik” to Ukrainian citizens.

The International Monetary Fund estimates that the Ukrainian government faces a financing deficit of $38 to $39 billion (over 35 billion euros), so the 18 billion-euro loan will partially cover that deficit.

Valdis Dombrovskis, Vice-President of the European Commission for Economy and Trade

Valdis Dombrovskis, Vice-President of the European Commission for Economy and Trade, told euronews’ that EU’ expects other international donors, such as the United States and other G7 countries, to provide the rest of “, such as the World Bank, from international financial institutions such as the IMF.

Changes in EU-Ukraine trade agreements

The EU and Ukraine’ have had a trade agreement since 2017’, but in June last year the European Commission unilaterally decided to liberalize access to EU markets with a change that would last until June of this year.

Under this agreement, Ukrainian goods and services will be able to enter AB’ without any tariffs or quotas.

Dombrovskis Euronews’e said AB’ is working to extend these measures until June, as the end of the war is a long shot.

RussiaThe role of ’?

Von der Leyen gave a clear message to the ’ of Russia during his visit to Kiev’e in February: "Russia must be held accountable in court for its heinous crimes." - “

The President of the European Commission said that the prosecutors of Ukraine and the European Union are already working together to collect evidence to be used in the war crimes trial, adding that AB’ will continue to increase pressure on the Kremlin with sanctions.

The collapsed Ukrainian building

Dombrovskis Euronews’e said international institutions are investigating how Russia will be held accountable for the damage ’ has already caused and continues to inflict on Ukraine’.

“In international law, there is a principle of responsibility of the attacker to cover the damage. The problem is how we can implement this principle, RussiaIt is not yet clear whether ’ will be willing to voluntarily pay, as I said.”

“We are looking at the possibilities of how the seized Russian assets can be used in the reconstruction of Ukraine’. This is an ongoing legal assessment that concerns both private assets and central bank assets of ’, Russia.”

Russia to support Pakistan's accession to BRICS

Deputy Prime Minister of Russia Aleksey Overchuk (disambiguation) Russian delegation led by Pakistan ⁇ capital as part of two-day official visit History of Islamabad found in contact.

Pakistan and the the Russian Federation Following the meeting between the delegations, Pakistan's Deputy Prime Minister and Pakistan's Minister of Foreign Affairs Mohammad Ishaq Dar During the press conference, Deputy Prime Minister of Russia Overchuk answered the questions of journalists about the relations between the two countries.

Deputy Prime Minister and Minister of Foreign Affairs of Pakistan Dar said that the visit of the Russian delegation Signs that Relationships are Developing He said it was.

Noting that they want to increase energy, trade and regional cooperation between the two countries, Dar said that they want to strengthen mutual cooperation with Russia. Priority policies of Pakistani Foreign Affairs It was recorded.

It is narrow, The delegations held in-depth discussions on bilateral relations to identify potential areas of economic expansion. Specific areas of mutual interest were identified, including trade, economic cooperation, cultural relations and inter-people contacts ⁇ He said it.

⁇ We expect Russia ⁇ to play a positive role for BRICS ⁇ e membership ⁇

Trade between Pakistan and Russia reached $1 billion last year, Dar said. The BRICS ⁇ e He asked for Russia's support for his participation.

It is narrow, ⁇ Pakistan is; Brazil, Russia, India and China BRICS ⁇ e is willing to participate and help BRICS and other similar organizations to participate. Russia to play a positive role He wants to He said it.

In addition to the Shanghai Cooperation Organization (SCO) Noting that it will organize an important forum aimed at increasing peace, development and stability in the region, Dar said, In the Philippines to find solutions to a range of global and regional problems, including the United Nations (UN) Security Council He said he would cooperate with Russia.

Support for Pakistan's BRICS membership

Deputy Prime Minister of Russia Overchuk He also stated that they had a comprehensive meeting on all areas of the economy and that the SCO would organize a meeting in Pakistan within a month.

Overchuk stated that economic cooperation and relations within the scope of the SCO overlap in areas such as the use of national currencies of the two countries, climate change, food security, energy transition and security, ⁇ Also available Pakistan and Armenia, Belarus, Kazakhstan, Russia and Kyrgyzstan We also discussed the possibility of cooperation between the economic union of the five member countries, including Pakistan, and the opportunities for a free trade agreement between these five countries. He used his expressions.

Russia this year. the BRICS Summit Overchuk stating that he will host, Relations within BRICS have grown stronger, attracting many countries. We are pleased that Pakistan ⁇ has applied for membership. Both BRICS and SCO are compatible with each other. We support Pakistan ⁇ 's application ⁇ He said it.

Category: Russia-Pakistan relations

The visit is Russia's first high-level visit to Pakistan since April 2021.

Russian Minister of Foreign Affairs Sergey Lavrov, In 2021, he visited Pakistan ⁇ , which was Lavrov ⁇ 's first visit to Pakistan after 2012.

In 2021, Pakistan and Russia signed an agreement to build the 1100-kilometer Pakistan Natural Gas Pipeline project, previously known as the North-South Pipeline project.

Last year, Russia agreed to provide reduced oil and gas to meet Pakistan's growing domestic and industrial energy needs.

What is BRICS?

In the year 2006 Brazil, Russia, India and China The group aims at economic cooperation between countries.

the Group 2010 ⁇ da South Africa (disambiguation) also added and hosted by South Africa ⁇ the 2023 BRICS Summit The leaders of the member states decided to expand. Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates He joined BRICS on 1 January 2024.

About 45 percent of the world's population is BRICS ⁇ te

The BRICS countries, About 45% of the world's population It covers it. The Five Great Countries of the Developing World Brazil, Russia, India, China and South Africa BRICS formed by initials, Unilateral economic cooperation of the West an organization that emerges as an alternative and aims at both economic and cultural cooperation between member countries.

⁇ BRIC ⁇ term It was first used in 2001 in the ⁇ Building Better Global Economic BRICs ⁇ report by Jim O ⁇ Neill, chairman of Goldman Sachs, a U.S. investment bank.

Russia is 20. The International Muslim Forum was held: The U.S. is talking about peace, but it's doing the opposite.

President of the Religious Administration of Muslims of the Russian Federation and President of the Council of Muftis of Russia Ravil Gaynutdin, Representatives of Muslim organizations from 65 regions of Russia, representatives from 15 different countries and different Islamic organizations and other officials attended the international forum.

Chairman of the Strategic Vision Group of the Russian-Islamic World and leader of the Republic of Tatarstan Rustam Minnikhanov (disambiguation) He also participated in programs.

Director General of Islamic History, Art and Culture Research Center (IRCICA) Prof. Dr. Mahmut Erol Kılıç, Turkey Religious Foundation Islamic Studies Center (ISAM) President the Mürteza Badr, Deputy Chairman of ISAM Yaşar Çolak the Presidency of Religious Affairs of Turkey Umar Farouk Savuran (disambiguation) took the place. Head of Religious Affairs Ali Erbaş He sent me a message on the forum.

At the congress, the head of the Religious Administration of Muslims of the Russian Federation was re-elected with the unanimous vote of the representatives of Muslims of Russia. You are ungrateful He was elected.

There will be no peace as long as Palestine is under Israeli occupation.

While the representatives attending the forum drew attention to the genocide committed by Israel in the occupied Palestinian territories with their speeches, they also addressed the Advisor to the Palestinian President. Mahmoud al-Habash He also gave a speech on the forum.

He said that if humanity remains silent in the face of attacks, there will be no peace as long as there is persecution, as long as the rights of peoples are violated. History of Habas, “As long as Palestine is under Israeli occupation, there will be no peace.He said ⁇ .

Pointing out that the decisions taken in the United Nations regarding Palestine have not been implemented, History of Habas, reminded that although it received the approval of more than 120 ⁇ states, these decisions, which were opposed by a handful of countries led by ABD ⁇ , were not implemented.

“The U.S. is talking about peace, but it's doing the opposite. There will be no peace under these circumstances. There will be no peace as long as the Palestinian people are oppressed.⁇ who speaks History of Habas, Emphasizing that the situation is the same in the West Bank as in Gaza, he said that Israel continues its attacks not only on mosques but also on churches.

History of Habas, In his speech, he recorded the following sentences:

This ongoing insult to sacred values could lead to something terrible, a religious war that would be devastating for everyone. If this happens, then not only the Palestinians, not only the Arab region, but the whole world will pay for this war. The whole world will pay for the continuation of this terrible situation, which may lead to an explosion that will leave no one behind.

20. Speaker as host at the International Muslim Forum You are ungrateful Noting that the Islamic world faces many challenges, ⁇Based on Islam, reason and faith, we will overcome great difficulties as a single living organism.He said ⁇ .

Putin's letter was read.

At the end of the forum, the participants of the forum and the congress will meet with the President of Russia Vladimir PutinThe letter was read. In the letter, which emphasized that extremism and terrorism and the Islamic religion were deliberately tried to be discredited and xenophobia was fueled, the terrorist attack in Moscow in March as a result of this was cited as an example.

The letter reminded that Israel turned Gaza into a bloodbath and that there were constant Islamophobic acts aimed at insulting the feelings of believers.

Rosatom ⁇ 's revenue increased to 2.5 trillion rubles last year

The report, published by Rosatom, includes information on the company's global activities.

In the report, which pointed out that the Russian company carries out projects in more than 60 countries, it was stated that the total portfolio size abroad increased to 127.1 billion dollars last year.

In the report, which emphasized that Rosatom ⁇ had a strong increase in its revenues last year, ⁇ Company revenue increased by 45.6 percent compared to 2022 ⁇ last year to 2.5 trillion rubles. This was achieved mainly through transportation, products containing uranium and enrichment services, the sale of electricity and other energy sources.

The report also noted that the company's spending on nature conservation increased by 17.7 percent last year to 29 billion rubles.

from Russia: Turkey applies for full membership to BRICS ⁇ e

Following reports that Turkey applied for membership in BRICS ⁇ e, which was created in 2009 by Brazil, Russia, India, China and South Africa, a statement came from Russia.

Russian Vice-President Yuri Ushakov said Turkey has submitted an official application to join BRICS. The 9th edition was held in Vladivostok, Russia. Yuri Ushakov, who made a statement to journalists at the Eastern Economic Forum, said that ⁇ Turkey applied for full participation and we will evaluate ⁇ .

AK Party Vice-President and Party Spokesperson Ömer Çelik said in a press conference yesterday that Türkiye ⁇ has open intentions for full membership to BRICS ⁇ e, ⁇ The process is ongoing, if there is concrete development, we will share ⁇ he said.

Russian Vice-President Ushakov recently said that President Recep Tayyip Erdogan's 16th meeting will be held in Kazan, Tatarstan, Russia on October 22-24. He stated that the official invitation to participate in the BRICS Summit was forwarded to Turkey.

Russia's policy of resolute dedolarization continues: A new record was broken in the share of the ruble in imports

Central Bank of Russia In the data shared by, The Ruble → and the some foreign currencies Information on the use rates in foreign trade was included.

According to this, The share of the ruble in imports of Russia from Europe In June, compared to the previous month, it increased by 4.3 points to 58.7 percent and increased by 9.3 points to 54.1 percent in imports from Afrika ⁇ .

The share of the ruble in the imports of Russia with the increases in the said regions in the month in question A record 42.9 percent. It has arrived.

The share of the ruble in the country's exports Compared to the previous month in June Increased by 5.8 points increased to 43 percent.

According to the data shared, Russia's foreign trade Dollar and Euro Shares Compared to May in June Decreased from 20.1% to 18.3%.

Russia, Western countries the Sanctions Act Because of this, it is trying to reduce the share of the dollar and euro, which it considers as ⁇ poisonous ⁇ in its foreign trade.

In particular, the The BRICS team to reduce the dollar's share in international trade. Russia and China, The Dedolarization of The leading actors of the process.

The Central Bank of Russia, in its previous reports The currency of China is the yuan He emphasized that his share in foreign trade transactions continued to increase and the share of the dollar and euro continued to decrease.

US ⁇ den ⁇ Russia ⁇ sanctions: Companies from Turkey are also on the list

A Turkish citizen and some Turkish-based companies were also included in the aforementioned sanctions list of 400 people and institutions announced by the USA against Russia.

While the Russia-Ukraine war has been going on for more than 2 years, the U.S. Department of Finance and the State Department announced sanctions on more than 400 people and companies on Friday (August 23rd) on the grounds that they support Russia's war in Ukraine. The sanctions list, which includes various individuals and organizations from China, Russia, Europe and the Middle East, included a name with Turkish citizenship and companies based in Turkey.

⁇ WORKED ON MÜHİMMAT AND WEAPON SUPPLY ⁇

According to the news of Ezel Şahinkaya ⁇ from Turkish, the first of the Turkish-linked persons and organizations in the ministry's statement is Giulio Sfoglietti, an Italian citizen. According to the statement, Sfoglietti became part of a supply network for the Russian army, including a facilitator from Turkey to acquire military equipment, ammunition and weapons worth more than $150 million from potential suppliers in Africa, Asia, the Caucasus, Central Asia and Iran. In the statement, the US Ministry of Finance stated that Hayri Tahirbeyoğlu ⁇ , a Turkish citizen and chairman of the board of directors of Taha Savunma Sanayi ve Ticaret Anonim Şirketi ⁇ , a Turkish-based ammunition, weapons and military equipment company, is working on the supply of ammunition and weapons for the possible use of Sfoglietti and Russia ⁇ .

⁇ CREATED NETWORK ON COMPANIES IN THREE COUNTRIES ⁇

The Ministry also announced that the Russia-based company Promtekh, which the US has listed on its sanctions list in the past, has sent high-priority goods to Promtekh subsidiaries by creating a network through companies located in Turkey, France and Hong Kong.

The Ministry noted that Enütek Makina Sanayi ve Ticaret Limited Şirketi, based in Turkey, was established in December 2022 by Industrial Technologies Group France, based in France, a sister company of one of Promtekh ⁇ 's subsidiaries. According to the U.S. Department of Finance, Enütek in Turkey has shipped hundreds of technologies to some Promtekh subsidiaries that the U.S. has included in its sanctions list in the past, including high-priority dual-use technologies such as electronic integrated circuits and ceramic capacitors.

Another company that sells goods from Turkey to Promtekh subsidiaries, Confienza Gıda Pazarlama ve Ticaret Anonim Şirketi, was also included in the list. Confienza shipped more than 200 ⁇ to a subsidiary of Promtekh ⁇ , including high-priority dual-use technologies.

⁇ CONNECTED WITH RUSIA ⁇ 'S EMPLOYMENT SERVICES... ⁇

The statement also included Whitestone Informatics Trade and Industry Limited Company in Turkey owned by Evgenii Stanislavich Petrov ⁇ , which is currently on the sanctions list of the USA. Founded in October 2023, Whitestone ⁇ un was used by Petrov to process payments for procurement activity to end users in Russia ⁇ connected with Russia ⁇ 's intelligence services.

Finally, two companies based in Turkey took part in the statement on the grounds that they supply production equipment to Russia. It was stated that Hidropark Hydraulic Pneumatic Industry and Trade Limited Company, which is on the list, supplied numerically controlled machine tools and machining centers to end users in Russia, as well as sold hydraulic and pneumatic equipment. The company shipped over $800,000 to buyers in Russia, which is higher than the company's reported annual revenue.

According to the statement, another Turkey-based company, Feva Foreign Trade Limited Company, also supplied numerically controlled machine tools to buyers in Russia. The company shipped more than 500 ⁇ including production equipment to end users in Russia ⁇ and sold goods to the Russian company Limited Liability Company AK Microtech ⁇ e, which was sanctioned by the USA ⁇ in the past.

SEPARATE CONSTRUCTIONS FROM TURKEY TO EIGHT COMPANIES

On Friday, it was also announced in the official newspaper of ABD ⁇ that 123 new organizations were added to the U.S. Department of Commerce's export checklist. 63 of these organizations are located in Russia, 42 in China and 8 in Turkey. According to the 56-page document in the official newspaper, it was determined that these organizations acted against the national security or foreign policy interests of ⁇ ABD ⁇ .

In the list in the document, the name of one of the companies in Türkiye ⁇ was not clearly specified, it was defined as ⁇ Address 01 ⁇ . In the list, companies from Turkey are listed as follows: ⁇ Address 01, All Global Trading Electronic Dis Ticaret Ltd Sti, ASR Trans Lojistik ve Dis Tic Ltd Sti, Biopharmist Medical Products Dis Ticaret LTD STI, BRK International Transport Tic. Ltd. Sti, BuyBest Electronic, Confienza Pazarlama ve Ticaret Anonim Şirketi and Turkik Union Digital Technology Donusum Ofisi. ⁇ In this list, only Confienza was included in the list of sanctions announced on Friday by the U.S. Ministry of Finance and the State Department ⁇ regarding Russia.

Crypto era in international payments in Russia

Russia is beginning the era of cryptocurrencies in payments.

While the US continues to tighten its sanctions on Russia, the problems of Russian companies in receiving and sending payments in international trade continue to plague the government.

Russian officials, who are looking for alternatives to solve the problem, are now taking a much more moderate approach to cryptocurrencies, where they have shown a harsh stance in the country for a while.

In 2022, the Central Bank of Russia demanded the complete ban of cryptocurrencies in the country with a report prepared just before the war, but cryptocurrencies became increasingly common due to the removal of Russian banks from the SWIFT payment system after the Ukraine war.

With the decree signed by Russian President Vladimir Putin on August 8, the experimental use of cryptocurrencies in international payments and Forex transactions was legalized. Accordingly, the Central Bank of Russia will oversee the process, which will start on September 1.

The head of the Central Bank of Russia, Elvira Nabiullina, said on July 30 that the use of cryptocurrencies in international payments could begin by the end of the year.

Russian Finance Minister Anton Siluanov said on Aug. 14 that they are working to legalize cryptocurrency exchanges.

However, since a large number of countries have developed their own rules for cryptocurrencies, how to use cryptocurrencies in international trade and the security of this system remains unclear.

National payment card system will become important

Experts say that the National Payment Card System, which Russia started to develop in 2014, will come to the fore during the trial process on cryptocurrencies.

While it is emphasized that the Central Bank of Russia has full control over the National Payment Card System plays an important role in this preference, the country's domestic payment system Mir is also working on this platform.

The main type of cryptocurrency projected to be used in international payments is expected to be stable coins.

Stable coins are expressed as cryptocurrencies whose value is tied to another asset in fiat money, commodities, such as dollars or yuan, or cryptocurrencies such as Bitcoin.

The Central Bank of Russia, in its report published on July 10, reported that an evaluation was made for the establishment of a mechanism that will determine the rules for the circulation of stablecoins in the country.

While Russia needs the support of BRICS countries, especially in terms of the use of cryptocurrencies in international trade, officials in Brazil, South Africa and India have made statements that they are working on this issue. In China, the use of cryptocurrencies was banned.

The study, published by the Russian-based Transstroy Bank, pointed out that the use of cryptocurrencies in international payments creates new opportunities for business and the economy.

However, the report, which includes a number of challenges related to the process, emphasized that the restrictions imposed by the regulators in the countries, technical complexity and fluctuations in the value of cryptocurrencies are among the challenges.

The trials of the digital ruble are underway

While the Central Bank of Russia's trial process for the digital ruble was launched last year, the digital ruble is expected to progress in an integrated way with the cryptocurrency process.

Taking the development of the digital yuan as an example, Russia hopes to use cryptocurrencies and the digital ruble for payments with China, its biggest partner in trading.

Anatoly Aksakov, chairman of the Financial Markets Committee of the lower house of the Russian parliament Duma ⁇ , told the Russian news agency in June, ⁇ Both we and they have a certain experience, so it may be interesting to start the process of payment in digital currencies with China. Technologically, we're pretty close. Since it is a friendly country, it will be possible to try it with Belarus ⁇ . ⁇ he said.

The digital ruble, the trial period of which has been ongoing since August 2023, is currently used in a limited way in about 30 companies and 11 cities.

For example, the digital ruble used by the oil company Lukoil ⁇ in in some gas stations is also accepted as a form of payment in the Moscow Metro.

The head of the Central Bank of Russia, Nabiullina, said that the digital ruble will become an important part of life in 5 years.

At Putin's meeting in Moscow on July 17, this is essentially another form of our national currency. Its feature is that citizens and businesses can use the digital ruble regardless of which bank they have an account with.

Emphasizing the need to expand the digital ruble, Putin instructed to accelerate the work aimed at its use especially in financial and economic activities.

Experts state that in order for Russia to be able to use the digital ruble for international payments, first of all, the trial process must be successfully completed in the domestic market.