Page 104 - Latest Updates on Ukraine peace talks

2 yrs into war, West seeks ways to steer frozen Russian assets to Ukraine

It's been nearly two years since the United States and its allies froze hundreds of billions of dollars in Russian foreign holdings in retaliation for Moscow's invasion of Ukraine. That roughly USD 300 billion in Russian Central Bank money has been sitting untapped as the war grinds on, while officials from multiple countries have debated the legality of sending the money to Ukraine. The idea of using Russia's frozen assets is gaining new traction lately as continued allied funding for Ukraine becomes more uncertain and the US Congress is in a stalemate over providing more support. But there are tradeoffs since the weaponisation of global finance could harm the US dollar's standing as the world's dominant currency. At this week's World Economic Forum meetings in Davos, Switzerland, Ukrainian President Volodymyr Zelenskyy called for a strong decision this year for the frozen assets in Western banks to be directed towards defense against the Russian war and for reconstruction of ...

Confiscating $300 bn of Russian assets no panacea, West cautions in Davos

The lion's share of the assets - essentially securities in which the Russian Central Bank had invested - are frozen in Euroclear, a depository based in Brussels

Russia's attacks on Ukraine increased civilian casualties in Dec: UN

Russia's intense missile and drone attacks across Ukraine in recent weeks sharply increased civilian casualties in December with over 100 killed and nearly 500 injured, the United Nations said in a new report on Tuesday. The United Nations Human Rights Monitoring Mission in Ukraine said there was a 26.5 per cent increase in civilian casualties last month -- from 468 in November to 592 in December. With some reports still pending verification, it said, the increase was likely higher. Danielle Bell, who heads the UN's monitoring mission, said: "Civilian casualties had been steadily decreasing in 2023 but the wave of attacks in late December and early January violently interrupted that trend." The UN mission said it is verifying reports the recent intense Russian missile and drone attacks that began hitting populated areas across Ukraine on December 29 and continued into early January killed 86 civilians and injured 416 others. "These attacks sow death and destruction on Ukraine's ...

Biden invites congressional leaders during difficult talks on Ukraine aid

President Joe Biden has invited the top four congressional leaders and other lawmakers to the White House on Wednesday as members have struggled to reach agreement on US aid for the Ukraine war. Republicans have insisted on pairing it with their own demands for securing the US border. A bipartisan group of negotiators in the Senate has been working for weeks to find an agreement that would provide wartime money for Ukraine and Israel and also include new border policy that is strong enough to satisfy Republicans in both chambers. The talks appeared to slow last week as senators said significant disagreements remained. White House press secretary Karine Jean-Pierre said on Tuesday that the lawmakers -- including Speaker of the House Mike Johnson, R-La; House Democratic Leader Hakeem Jeffries, D-NY; Senate Majority Leader Chuck Schumer, D-NY; and Senate Republican Leader Mitch McConnell, R-Ky; -- were invited to meet with Biden "to discuss the critical importance of his national ...

At Davos, Zelenskyy lashes out at Putin, urges support for Ukraine's fight

Ukrainian President Volodymyr Zelenskyy huddled with corporate executives and world leaders in a frenzied first full day of the World Economic Forum's annual meeting in the Swiss ski resort of Davos, where top officials from the United States, European Union, China, the Middle East and beyond spoke Tuesday about tackling conflict and embracing technology like artificial intelligence. Zelenskyy is endeavoring to keep his country's long and largely stalemated defense against Russia on the minds of political leaders, just as Israel's war with Hamas, which passed the 100-day mark this week, has siphoned off much of the world's attention and sparked concerns about a wider conflict in the Middle East. "It is important that you stand with us, I thank you for your support. It is very important to be here, to boost investment in Ukraine and support our economy, Zelenskyy said at an invitation-only CEOs for Ukraine session, according to his office. It is Zelenskyy's first trip to Davos as ...

Here's a pessimist's guide to economic risks in 2024 and what can go right

What could possibly go wrong? After years marked by war, pandemic and bank collapse, it hardly needs saying: a lot. That includes-but is not limited to-the following

United Nations seeks $4.2 bn to help people in Ukraine, refugees this year

The United Nations appealed on Monday for USD 4.2 billion to help people in Ukraine and displaced outside the country this year, saying that people on the front lines have exhausted their meagre resources and many refugees also are vulnerable. About three-quarters of the total, USD 3.1 billion, is meant to support some 8.5 million people inside Ukraine. The remaining USD 1.1 billion is sought for refugees and host communities outside Ukraine. A recent wave of attacks underscores the devastating civilian cost of the war and a bitter winter is increasing the need for humanitarian aid, the UN Office for the Coordination of Humanitarian Affairs and the UN refugee agency said in a statement from Geneva. In front-line towns and villages, people have exhausted their meagre resources and rely on aid to survive, it said. Ukraine has been subjected to massive Russian barrages recently. More than 500 drones and missiles were fired between December 29 and January 2, according to officials in .

German economy shrinks 0.3%, costly energy, higher interest rates to blame

Germany's economy shrank 0.3 per cent last year as Europe's former powerhouse struggled with more expensive energy, higher interest rates, lack of skilled labour and a homegrown budget crisis. Europe's largest economy has been mired in stagnation since the last months of 2022 amid those multiple challenges. The International Monetary Fund expected Germany to be the worst-performing major developed economy last year, a major turnaround from its place as a model for how to expand when other nations were struggling. German's economy likely also shrank 0.3 per cent in the fourth quarter after stagnating in the third quarter, the Federal Statistical Office said on Monday in an initial rough estimate. Official figures for the last three months of 2023 are expected to be announced January 30. Meanwhile, there's an ongoing debate about why Germany has stalled. Energy intensive industries must pay higher natural gas prices after losing Russia's cheap supply following its invasion of Ukraine,

UN seeks $4.2 billion to help people in Ukraine, refugees this year

The United Nations appealed on Monday for USD 4.2 billion to help people in Ukraine and displaced outside the country this year, saying that people on the front lines have exhausted their meagre resources and many refugees also are vulnerable. About three-quarters of the total, USD 3.1 billion, is meant to support some 8.5 million people inside Ukraine. The remaining USD 1.1 billion is sought for refugees and host communities outside Ukraine. A recent wave of attacks underscores the devastating civilian cost of the war and a bitter winter is increasing the need for humanitarian aid, the UN Office for the Coordination of Humanitarian Affairs and the UN refugee agency said in a statement from Geneva. In front-line towns and villages, people have exhausted their meagre resources and rely on aid to survive, it said. Ukraine has been subjected to massive Russian barrages recently. More than 500 drones and missiles were fired between December 29 and January 2, according to officials in .

More countries join talks on Ukraine leader's peace formula

Leaders of talks on Ukrainian President Volodymyr Zelenskyy's peace formula on Sunday said a growing number of countries are working to help set the groundwork for Russia to join one day, an admittedly distant goal as the nearly two-year war grinds on and with neither side willing to cede ground. The fourth such meeting of national security advisors was held in the Swiss town of Davos, where Zelenskyy is set to attend the World Economic Forum's annual meeting starting Tuesday. He will endeavour to keep up international focus on Ukraine's defence amid eroding support for Kyiv in the West and swelling distractions like conflict in the Middle East. Andriy Yermak, the Ukrainian president's chief of staff, posted photos of the meeting's opening and hailed a "good sign" that the number of participants in a string of conferences on Zelenskyy's peace formula was growing -- nearly half from Europe, as well as 18 from Asia and 12 from Africa. "Countries from the Global South are increasingly

NSAs of several countries meet in Davos to discuss Ukraine peace formula

National security advisors of several countries met here on Sunday to discuss a peace formula for Ukraine, with India and many other nations pushing for the restoration of peace in the war-hit country. A representative of the Swiss Foreign Ministry, which co-hosted the meeting along with Ukraine, said, "By organising the meeting, Switzerland continues to support Ukraine in achieving this goal". This was the fourth NSA meeting on the peace formula proposed by Ukrainian President Volodymyr Zelenskyy in 2022, which follows ten principles aimed at ensuring a just and lasting peace in Ukraine. Earlier meetings have been held in Copenhagen, Jeddah and Malta. India has always pitched for restoration of peace in Ukraine, and Prime Minister Narendra Modi during his discussions with Zelenskyy said that India was ready to help in all possible manner to help restore peace. During his conversations with Russian President Vladimir Putin also, Modi said that it is not a time of war. Sources sai

Indian economy withstood geopolitical shocks; ready for future challenges

The Indian economy has withstood all geopolitical shocks in the last couple of years and it will also be able to navigate the uncertainties that lie ahead, RBI Monetary Policy Committee (MPC) member Jayanth R Varma said on Sunday. Varma further said he expects a benign outcome in 2024 where inflation comes down and growth remains robust. "The Indian economy has withstood all these shocks ( Russia-Ukraine war, Israel-Hamas war, rising oil prices, Houthi attacks) in the last couple of years, and I do not believe that the geopolitical situation will be significantly worse in coming months than what we experienced in the recent past," he told PTI in an interview. Moreover, Varma, a professor at the Indian Institute of Management, Ahmedabad, said the continued slowdown in China has led to sharply reduced demand for energy and other commodities, and this too has ameliorated the adverse effects of supply shock. "On the whole, I have a great deal of confidence that India will be able to ..

EAM Jaishankar, Blinken discuss Red Sea attacks, Gaza, Ukraine war

The United States has welcomed the "increased cooperation" with India in defending freedom of navigation in the Red Sea as the two countries discussed "shared concerns" over the reckless Houthi attacks in the region. External Affairs Minister S Jaishankar and US Secretary of State Antony Blinken spoke Thursday and "discussed the United States and India's shared concerns over the reckless Houthi attacks in the southern Red Sea and Gulf of Aden, which threaten the free flow of commerce, endanger innocent mariners, and violate international law". State Department Spokesperson Matthew Miller said in a statement that Blinken emphasised the Red Sea is a major commercial corridor that facilitates international trade and "welcomed increased cooperation with India in defending freedom of navigation in the region". Jaishankar and Blinken also discussed the Israel-Hamas conflict, efforts to prevent the escalation and increase the delivery of humanitarian aid to civilians in Gaza. Blinken also

Despite pressure, we are largest economy of Europe: President Putin

Russian President Vladimir Putin has said that the country has become Europe's first economy and stands at number fifth in the world in terms of purchasing power parity

Russia requests UNSC meeting after US, Britain strike Houthis in Yemen

A spokesman for Yemen's Houthis said there was no justification for the US-British attack and said the Iran-backed group will continue targeting ships heading towards Israel

Zelenskyy rules out cease-fire, saying Russia could use it to rearm

Ukrainian President Volodymyr Zelenskyy on Thursday ruled out a cease-fire in his country's war with Russia, saying the Kremlin's forces would use the pause to rearm and regroup before overwhelming Kyiv's troops. A pause on the Ukrainian battlefield will not mean a pause in the war, Zelenskyy said during a visit to Estonia. A pause would play into (Russia's) hands, he said. It might crush us afterward. Limited cease-fires have occasionally been proposed since Russia's full-scale invasion in February 2022 but have never taken hold. Both sides are scrambling to replenish their weapons after 22 months of fighting and with the prospect of a protracted conflict. With the roughly 1,500-kilometre (630-mile) front line mostly static during freezing winter weather, they both require artillery shells, missiles and drones that enable long-range strikes. Zelenskyy noted that Moscow is allegedly buying artillery shells and missiles from North Korea and drones from Iran. Zelenskyy was in the .

Russia-Ukraine, Israel-Hamas conflict hit tourist inflow to Goa: Minister

The Russia-Ukraine war and the ongoing conflict in West Asia involving Israel have shrunk the regular inflow of tourists to Goa from these countries, state Tourism Minister Rohan Khaunte has said. He was speaking to reporters here on Wednesday on the sidelines of the launch of Goa's new initiatives for boosting tourism in the coastal state. Russia, Ukraine and Israel are the three counties from where Goa gets a sizeable number of tourists, he said. "The crisis in which these counties are involved has shrunk the regular inflow of tourists to Goa," the minister said. Elaborating on how Goa is trying to overcome the vacuum created by this, he said, "If you go by the absolute number of tourists that visited Goa in the last one year, it is higher compared to the previous year. It indicates that domestic tourists are filling the vacuum." However, it cannot be ignored that international tourists on an average stay in Goa for eight days, while the average stay of domestic tourists is four

Ukraine seeks investments from India to reconstruct war-hit economy

Ukraine pegs private sector investment opportunities at over $30 billion

350,000 people applied for asylum in Germany in 2023, up 51% in 1 year

The number of people applying for asylum in Germany last year rose to 3,51,915, an increase of 51.1 per cent compared with the year before. The largest number of asylum-seekers came from Syria, with 1,04,561 applications, followed by Turkish citizens with 62,624 asylum pleas and 53,582 Afghans, Germany's Federal Office for Migration and Refugees said Monday. Migration has become a huge political problem for the government and a hot-button topic in Germany as local communities are struggling to house the many newcomers. German Chancellor Olaf Scholz, who faces enormous pressure from the opposition and elsewhere to halt the trend, has said that too many are coming. Late last year, Scholz and the 16 state governors agreed on new and stricter measures to curb the high number of migrants flowing into the country, reaching a compromise that included speeding up asylum procedures, benefit restrictions for asylum-seekers and more financial aid from the federal government for the states and

Russia launches heavy missile attack on Ukraine; 1 dead, 30 injured

Ukraine came under strong Russian missile attacks early Monday that struck near the front lines of fighting in the east as well as in central and western parts of the country, killing one person and injuring at least 30. The heaviest casualty toll was in the Dnipropetrovsk region, where a woman died in a missile attack outside the city of Kryvyi Rih and 24 were injured in a strike on the town of Novomoskovsk. In Kryvyi Rih itself, more than 20 houses and a shopping centre were damaged in a missile attack, said regional governor Serhii Lysak. At least four missiles hit Kharkiv, the country's second-largest city, injuring one person, said mayor Ihor Terekhov. Regional governor Oleh Syniehubov also said two people were injured and two more were trapped under rubble after a strike on the village of Zmiiv. In Zaporizhzhia, a major city along the Dnipro River, two people were injured in a missile strike on a residential district, said regional governor Yurii Malashko. Over the past 24 ..