EU lawmakers approve new $38 billion loan for Ukraine

EU lawmakers approve new $38 billion loan for Ukraine
The EU loan to Ukraine is part of a bigger $50 billion initiative agreed by G7 powers in June. (AFP)
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Updated 22 October 2024
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EU lawmakers approve new $38 billion loan for Ukraine

EU lawmakers approve new $38 billion loan for Ukraine
  • Kyiv is desperate for funds as it seeks to prop up its economy, equip its military and keep its electricity grid functioning this winter
  • The EU loan is part of a bigger $50 billion initiative agreed by G7 powers in June

STRASBOURG, France: The European Parliament on Tuesday voted to hand war-torn Ukraine a loan of up to $38 billion (35 billion euros) backed by profits from frozen Russian assets.
Kyiv is desperate for funds as it seeks to prop up its economy, equip its military and keep its electricity grid functioning this winter after intense bombardments by Moscow’s forces.
The European Union loan — which was approved by an overwhelming majority of lawmakers — is part of a bigger $50 billion initiative agreed by G7 powers in June.
The EU is the first of the G7 powers to announce how much it is putting forward as its share of the plan and is still waiting for the United States and others to do their part.
EU justice commissioner Didier Reynders said other G7 countries are expected to unveil their contributions at a Washington meeting on Friday.
EU officials say the size of the bloc’s loan was up to 35 billion euros, but could decrease depending on how much other countries put forward.
The EU has frozen roughly $235 billion of Russian central bank funds since the Kremlin launched its invasion of Ukraine in 2022, the vast bulk of immobilized Russian assets worldwide.
About 90 percent of the funds in the EU are held by international deposit organization Euroclear, based in Belgium.
The G7 plan seeks to leverage interest earned on the assets to get more funds to Ukraine and will replace an existing EU scheme that funneled $1.7 billion to Kyiv in July.
There has been a delay in implementing the G7 loan as the United States had sought guarantees from the EU that the Russian assets would remain frozen.
Currently, EU members have to agree every six months to extend the asset freeze.
Hungary rejected a proposal to extend that period to 36 months, arguing it wants to wait until after the US presidential election in November.
The latest EU loan comes on top of roughly 120 billion euros of support that officials say the EU and its member states have provided to Kyiv since Russia’s invasion.


Starmer stays quiet on Ukraine’s use of UK Storm Shadow missiles

Starmer stays quiet on Ukraine’s use of UK Storm Shadow missiles
Updated 19 November 2024
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Starmer stays quiet on Ukraine’s use of UK Storm Shadow missiles

Starmer stays quiet on Ukraine’s use of UK Storm Shadow missiles
  • Britain, which has provided Ukraine with Storm Shadow long-range missiles, has consistently pushed to ease restrictions on Kyiv’s use of the weapons

RIO DE JANEIRO: British Prime Minister Keir Starmer on Monday said he would not “get into operational details” after US President Joe Biden gave Ukraine permission to use Western-supplied long-range missiles against Russia.
Speaking to broadcasters at the G20 in Brazil, Starmer refused to be drawn “because the only winner, if we were to do that, is (Russian President Vladimir) Putin.”
Kyiv has long sought authorization from Washington to use the powerful Army Tactical Missile System, or ATACMS, to hit military installations inside Russia as its troops face growing pressure.
A US official said Washington’s major policy shift on the missiles was in response to Russia’s deployment of thousands of North Korean troops in its war effort.
Britain, which has provided Ukraine with Storm Shadow long-range missiles, has consistently pushed to ease restrictions on Kyiv’s use of the weapons.
Putin had previously warned that letting Ukraine use long-range weapons would mean NATO was “at war” with Moscow.
In parliament in London, lawmaker Roger Gale asked if Britain planned to “align with the United States” in granting Kyiv permission to use the UK-supplied missiles “as it sees fit in its own defense.”
Junior defense minister Maria Eagle said the government intended to “align with our allies” on how Ukraine “can make use of the capabilities that’s been offered” by its backers.
Starmer added: “I’ve been really clear for a long time now we need to double down.
“We need to make sure Ukraine has what is necessary for as long as necessary, because we cannot allow Putin to win this war,” he said.
Asked if he had spoken to Russian Foreign Minister Sergei Lavrov at the G20, he said: “I haven’t spoken to Russia and I’ve got no plans to do so.”
Foreign Secretary David Lammy, speaking to reporters after a UN Security Council meeting in New York, also refused to discuss the use of British missiles, because it “risks operational security.”
Asked how concerned he was about the implications of Donald Trump’s presidency on the war in Ukraine, he said: “One president at a time.”
“We’re dealing with President (Joe) Biden and we are committed to putting Ukraine in the strongest possible position,” he added.


Biden in ‘historic’ pledge for poor nations ahead of Trump return

Biden in ‘historic’ pledge for poor nations ahead of Trump return
Updated 19 November 2024
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Biden in ‘historic’ pledge for poor nations ahead of Trump return

Biden in ‘historic’ pledge for poor nations ahead of Trump return
  • The outgoing leader unveiled the money for the International Development Association as he attends the G20 summit underway in Rio de Janeiro, his last time at the gathering of world leaders

RIO DE JANEIRO: US President Joe Biden announced a “historic” $4 billion pledge for a World Bank fund that helps the world’s poorest countries, the White House said Monday, before Donald Trump takes office with a new cost-cutting agenda.
The outgoing leader unveiled the money for the International Development Association as he attends the G20 summit underway in Rio de Janeiro, his last time at the gathering of world leaders.
“The president announced today that the United States intends to pledge $4 billion over three years... which is really exciting,” a senior US administration official told reporters on condition of anonymity.
The official said the pledge would not be binding on Trump’s incoming administration but said previous Republican governments had also backed top-ups for the fund.
US Deputy National Security Adviser Jon Finer earlier called the pledge “historic” and said Biden would “rally other leaders to step up their contributions.”
The International Development Association is the concessional lending arm of the World Bank and is used for some of the poorest countries in the globe, including for projects focused on climate.
During a six-day tour of South America, Biden has been trying to shore up his international legacy ahead of President-elect Trump’s return to the White House on January 20.
On Sunday he visited the Amazon rainforest in Brazil to promote his record on climate change, saying that the United States had hit its target of increasing bilateral climate financing to $11 billion a year.
Billionaire Trump has pledged to take a wrecking ball to many of Biden’s policies and has appointed tech tycoon Elon Musk as head of a commission to target what he calls federal government waste.


North Korean leader Kim meets Russian resources minister

North Korean leader Kim meets Russian resources minister
Updated 19 November 2024
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North Korean leader Kim meets Russian resources minister

North Korean leader Kim meets Russian resources minister
  • A delegation of the Russian army’s Military Academy of the General Staff arrived in Pyongyang on Monday, state media reported, while a Pyongyang city council committee delegation also left for Russia

SEOUL: North Korean leader Kim Jong Un met with Russia’s natural resources minister Alexander Kozlov on Monday, state media KCNA reported, in the latest sign of growing ties between Pyongyang and Moscow.
During the meeting, Kim said cooperation in trade, science and technology should expand for the two countries’ development and prosperity, according to the report published on Tuesday.
“It is necessary to mutually and powerfully propel the co-prosperity and development of the two countries by further promoting the inter-governmental trade, economic, scientific and technological exchange and cooperation in a more extensive and diversified way,” Kim was quoted was saying in the report.
A delegation of the Russian army’s Military Academy of the General Staff arrived in Pyongyang on Monday, state media reported, while a Pyongyang city council committee delegation also left for Russia.
The exchange between Pyongyang and Moscow came as South Korean President Yoon Suk Yeol, at the G20 summit in Rio de Janeiro, urged the two countries to end their military cooperation which he called illegal.
A separate column carried by KCNA on Tuesday criticized the trilateral cooperation between South Korea, the US and Japan including a summit held last week on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Summit in Lima, Peru.
It said such cooperation including military drills created discord and confrontation.

 


What does Biden’s decision to allow Ukraine to use longer-range US weapons mean?

What does Biden’s decision to allow Ukraine to use longer-range US weapons mean?
Updated 19 November 2024
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What does Biden’s decision to allow Ukraine to use longer-range US weapons mean?

What does Biden’s decision to allow Ukraine to use longer-range US weapons mean?
  • The ballistic missiles, developed by US aerospace and defense company Lockheed Martin, have nearly double the striking distance — up to 300 kilometers (190 miles) — of most of the weapons in Ukraine’s possession
  • Biden authorized Ukraine to use the ATACMS to strike deeper inside Russia, according to a US official and three other people familiar with the matter

KYIV, Ukraine: The US will allow Ukraine to use American-supplied longer-range weapons to conduct strikes deeper inside Russian territory, a long-sought request by Kyiv.
It isn’t yet clear if there are limits on Ukraine’s use of the Army Tactical Missile System, or ATACMS, as there have been on other US missile systems. Their deployment could — at least initially — be limited to Russia’s Kursk region, where Ukrainian troops seized territory earlier this year.
Since the first year of the war, Ukrainian leaders have lobbied Western allies to allow them to use advanced weapons to strike key targets inside Russia — which they hope would erode Moscow’s capabilities before its troops reach the front line and could make it more difficult for the Russian forces to strike Ukrainian territory. It could also serve as a deterrent force in the event of future ceasefire negotiations.
The US has long opposed the move, with President Joe Biden determined to avoid any escalation that he felt could draw the US and other NATO members into direct conflict with nuclear-armed Russia. The Kremlin warned on Monday that the decision adds “fuel to the fire.”
The decision comes in the waning days of Biden’s presidency, before President-elect Donald Trump assumes office. Trump has said he would bring about a swift end to the war, which many fear could force unpalatable concessions from Kyiv.
What are ATACMS?
The ballistic missiles, developed by US aerospace and defense company Lockheed Martin, have nearly double the striking distance — up to 300 kilometers (190 miles) — of most of the weapons in Ukraine’s possession. They carry a larger payload and have more precise targeting for pinpoint attacks on air fields, ammunition stores and strategic infrastructure.
The United States has supplied Ukraine with dozens of ATACMS (pronounced attack-ems) and they have been used to destroy military targets in Russian-occupied parts of Ukraine such as Crimea — but not on Russian soil.
What is Biden allowing Ukraine to do?
Biden authorized Ukraine to use the ATACMS to strike deeper inside Russia, according to a US official and three other people familiar with the matter.
The longer-range missiles are likely to be used in response to North Korea’s decision to send troops to support Kremlin forces, according to one of the people familiar with the development. Pyongyang’s troops are apparently being deployed to help the Russian army drive Ukrainian forces out of Russia’s Kursk border region, where they launched an incursion in August.
The officials spoke on condition of anonymity because they were not authorized to discuss the US decision publicly.
It was the second time that Washington has expanded Ukraine’s authority to use its US-provided weapons systems inside Russian territory.
In May, after Russia’s offensive into the Kharkiv region threatened to stretch Ukrainian forces thin, Biden permitted the use of HIMARS systems — with a range of 80 kilometers (50 miles) — to quell that advance. That decision helped Ukrainian soldiers stabilize the fight for a time by forcing Russian forces to pull back military assets.
Why does Ukraine need longer-range weapons?
Ukraine has been asking its Western allies for longer-range weapons in order to alter the balance of power in a war where Russia is better resourced, and strike with precision air bases, supply depots and communication centers hundreds of kilometers (miles) over the border.
It hopes the weapons would help blunt Russia’s air power and weaken the supply lines it needs to launch daily strikes against Ukraine and to sustain its military ground offensive into Ukraine.
If used in Kursk, the weapons would likely require Russian forces preparing for counterattacks to push back valuable equipment and manpower and complicate battle plans.
In lieu of Western weapons, Ukraine has been regularly striking Russia with domestically produced weapons, with some capable of traveling up to 1,000 kilometers (620 miles), but still lacks sufficient quantities to do serious long-term harm.
Will the decision change the course of the war?
Ukrainian leaders are being cautious about the announcement — and senior US defense and military leaders have persistently argued that it won’t be a gamechanger. They also have noted that Russia has moved many key assets out of range.
“I don’t believe one capability is going to be decisive and I stand by that comment,” Defense Secretary Lloyd Austin has said, noting that the Ukrainians have other means to strike long-range targets.
Analysts have also suggested the effect could be limited.
“Today, many in the media are talking about the fact that we have received permission to take appropriate actions. But blows are not inflicted with words. Such things are not announced. The rockets will speak for themselves,” said Ukrainian President Volodymyr Zelensky of the announcement.
The effect of the decision depends on the rules set for the weapons’ use.
If strikes are allowed across all of Russia, they could significantly complicate Moscow’s ability to respond to battlefield demands.
If strikes are limited to the Kursk region, Russia could relocate its command centers and air units to nearby regions, blunting the effect of those logistical challenges. That would also mean many of the valuable targets Ukrainian officials have expressed desire to hit may still be beyond reach.
Either way, Pentagon spokesman Lt. Col. Charlie Dietz has noted the ATACMS wouldn’t be the answer to the main threat Ukraine faces from Russian-fired glide bombs, which are being fired from more than 300 kilometers (180 miles) away, beyond the ATACMS’ reach.
In addition, the overall supply of ATACMS is limited, so US officials in the past have questioned whether they could give Ukraine enough to make a difference — though some proponents say that even a few strikes deeper inside Russia would force its military to change deployments and expend more of its resources.
Jennifer Kavanagh, director of military analysis at Defense Priorities, said the US decision would not alter the course of the war.
“To really impose costs on Russia, Ukraine would need large stockpiles of ATACMS, which it doesn’t have and won’t receive because the United States’ own supplies are limited,” she said. “Moreover, the biggest obstacle Ukraine faces is a lack of trained and ready personnel, a challenge that neither the United States nor its European allies can solve and that all the weapons in the world won’t overcome.”
What are the key remaining questions?
In addition to it being unclear what, if any, restrictions the US will impose on the weapons’ use, it’s also not known how many the US will give to Ukraine.
While the US has provided ATACMS to Ukraine in various military aid packages, the Defense Department will not disclose how many have been sent or exactly how many of those missiles the Pentagon has. Estimates suggest the US has a number that is in the low thousands.
The recent American election raises questions over how long this policy will be in place. Trump has repeatedly criticized the Biden administration’s spending to support Ukraine — and could reverse moves like this one.
On the other hand, it’s also not clear whether other allies might step up: The decision may encourage Britain and France to allow Ukraine to use Storm Shadow missiles, also known as SCALP missiles, with a range of 250 kilometers (155 miles).
 

 


Trump appears to be planning to attend SpaceX ‘Starship’ launch scheduled for Tuesday in Texas

Trump appears to be planning to attend SpaceX ‘Starship’ launch scheduled for Tuesday in Texas
Updated 19 November 2024
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Trump appears to be planning to attend SpaceX ‘Starship’ launch scheduled for Tuesday in Texas

Trump appears to be planning to attend SpaceX ‘Starship’ launch scheduled for Tuesday in Texas
  • Trump frequently regaled audiences on the campaign trail with a dramatic account of the last Starship test

WEST PALM BEACH, Florida: President-elect Donald Trump appears to be planning to attend a SpaceX “Starship” rocket launch on Tuesday, in the latest indication of founder Elon Musk ‘s influence in the Republican’s orbit.
The Federal Aviation Administration has issued temporary flight restrictions over Brownsville and Boca Chica, Texas area for a VIP visit that coincides with the SpaceX launch window for a test of its massive Starship rocket from its launch facility on the Gulf of Mexico. The flight restrictions put in place over Trump’s home in Palm Beach, Florida when he is there will be lifted briefly while the Texas security measures are in place.
Trump’s visit comes as billionaire Musk has been a near-constant presence at Trump’s side as he builds out his administration, attending meetings at Trump’s Mar-a-Lago club, accompanying him to meetings with Capitol Hill Republicans in Washington last week and to a UFC fight in New York on Saturday.
Trump frequently regaled audiences on the campaign trail with a dramatic account of the last Starship test, that included the capture of the booster at its launchpad by a pair of mechanical arms.
Tuesday’s 30-minute launch window opens at 4 p.m. central time, according to the company, with the company again looking to test the landing capture system of the booster in Texas, while the upper stage continues to a splashdown in the Indian Ocean.
Musk pumped an estimated $200 million through his political action committee to help elect Trump and has been named, along with former GOP presidential candidate Vivek Ramaswamy, to lead an advisory committee tasked by Trump to dramatically cut governmental costs and reshape how Washington operates, which has sparked ethics concerns over Musk’s many interests before the federal government.
The Trump transition team did not immediately respond to a request for comment on the president-elect’s plans.