Foreign relations of Russia

NATO signs $1.2-billion artillery shell deal

NATO yesterday signed contracts worth $1.2 billion to acquire over 200,000 155-millimeter artillery shells in the face of Russia's invasion on Ukraine.

Members of the Western military alliance have drained their stocks sending shipments of heavy ammunition to help Ukraine's forces battle Russia in a brutal war of attrition.

Ukraine envoy praises Cyprus support for sanctions on Russia

Cyprus is making an "extremely important" contribution in increasing sanctions pressure on Moscow, said Ukraine's ambassador to the east Mediterranean island, which was long in the spotlight for close business ties with Russia.

Cyprus all but severed those ties when it followed its European Union partners in slapping sanctions on Moscow over the February 2022 invasion of Ukraine.

Bulgaria Urges EU Action on Frozen Russian Assets for Ukraine

Bulgaria's Finance Minister, Asen Vassilev, actively participated in the first regular meeting of the Economic and Financial Affairs Council (ECOFIN) for 2024 in Brussels. The meeting, chaired by the Belgian presidency of the Council of the EU, outlined its financial and economic priorities for the initial six months of the year.

Exports drop a gear, but imports slow down further

Greek exports retreated for another month, coming to 4.42 billion euros this October compared with €4.85 billion in October 2022, including fuel products, per ELSTAT.

This 8.8% decrease is mainly due to a reduction in prices; however, it is also related to the decline in demand in several European countries and the war in the Middle East.

Bulgarian Trade Faces Downturn: Exports Decline by 6% and Imports by 10.5% in 2023's First 10 Months

Bulgaria grapples with a notable decline in its trade sector, as preliminary data from the National Statistical Institute (NSI) reveals a significant downturn in exports and imports during the initial ten months of 2023.

Urgent Warning: US Funds for Ukraine Depleting Rapidly

White House Budget Director Shalanda Young cautioned congressional leaders about dwindling funds for Ukraine in a letter to House Republican Speaker Mike Johnson. The allocated money for Ukraine assistance requested in October, around $106 billion, remains pending in the Republican-controlled House of Representatives.

Putin offers way for Russians to 'swap' frozen assets

President Vladimir Putin signed a decree on Nov. 8 offering a way for Russian investors to "swap" their frozen assets abroad with the frozen assets of foreign companies in Russia.

Since the conflict in Ukraine, Western countries have introduced a barrage of sanctions against Moscow, blocking its banks from making international payments and freezing Russian assets abroad.

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