Latest News
G7 agrees $50bn loan for Ukraine from Russian assets
The G7 has agreed to use frozen Russian assets to raise $50bn (£39bn) for Ukraine to help it fight invading Russian forces.
US President Joe Biden said it was another reminder to Russia “that we’re not backing down”, but Moscow has threatened “extremely painful” retaliatory measures.
The money is not expected to arrive until the end of the year but is seen as a longer-term solution to support Ukraine’s war effort and economy.
Also at the G7 summit in Italy, Ukrainian President Volodymyr Zelensky and Mr Biden signed a 10-year bilateral security deal between Ukraine and the US, hailed by Kyiv as “historic”. The agreement envisages US military and training aid to Ukraine – but it does not commit Washington to send troops to fight for its ally.
Some $325bn worth of assets were frozen by the G7, alongside the EU, following Russia’s full-scale invasion of Ukraine in 2022. The pot of assets is generating about $3bn a year in interest. Under the G7 plan, that $3bn will be used to pay off the annual interest on the $50bn loan for the Ukrainians, taken out on the international markets.
Speaking at a joint news conference at the summit’s venue in Puglia, southern Italy, President Biden said the $50bn loan would “put that money to work for Ukraine and send another reminder to [Russian President Vladimir] Putin that we’re not backing down”. The US leader stressed that the Mr Putin “cannot wait us out, he cannot divide us, and we’ll be with Ukraine until they prevail in this war”.
President Zelensky thanked his American and other allies for their unwavering support.
And referring to the new security deal, he said: “It’s a truly historic day and we have signed the strongest agreement within Ukraine and the US since our independence [in 1991]”.
The G7 group of rich nations, Canada, France, Germany, Italy, Japan, the UK and US, have been important financial and military supporters of Ukraine as it battles to contain occupying Russian forces.
Other G7 leaders also hailed the $50bn loan deal, with UK Prime Minister Rishi Sunak describing it as “game changing”.
Most of the frozen assets of the Central Bank of Russia are being held in Belgium. Under international law, countries cannot confiscate those assets from Russia and give them to Ukraine.
Several hours before the G7 decision was announced, Russian Foreign Ministry spokeswoman Maria Zakharova warned that there would be “extremely painful” retaliatory measures.
[BBC]
Sunday was a day of surprises at the World Athletics Indoor Championships Nanjing 25.
While the likes of Jakob Ingebrigtsen and Gudaf Tsegay lived up to expectation in the 1500m finals, and Sander Skotheim did likewise in the heptathlon, there were several shock wins throughout the final day of action in Nanjing’s Cube.
Claire Bryant set the tone with the first final of the day, taking a surprise victory in the long jump. Another shock soon followed as world and Olympic high jump champion Yaroslava Mahuchikh was beaten by Australian duo Nicola Olyslagers and Eleanor Patterson.
New Zealand shot putter Tom Walsh and sprint hurdler Devynne Charlton both produced their best form of the year so far to take surprise golds. Prudence Sekgodiso, meanwhile, was similarly surprised to win the women’s 800m. The men’s 800m, by contrast, went to the form book as Josh Hoey held on for victory.
Normal order was restored by the end of the day with USA taking dominant wins in both 4x400m finals. It meant they ended the championships top of the medals table with 16 medals, six of them gold.
[World Athletics]
Canada’s new Prime Minister Mark Carney has moved to dissolve Parliament and trigger a snap election on April 28.
The widely anticipated decision on Sunday kicks off an election race less than two weeks after Carney took up his post, succeeding Justin Trudeau at a time of soaring tensions with the United States.
“We are facing the most significant crisis of our lifetimes because of President Donald Trump’s unjustified trade actions and his threats to our sovereignty,” the Liberal Party leader told reporters in Ottawa after he met with the governor general to request parliament’s dissolution.
“I’m asking Canadians for a strong, positive mandate to deal with President Trump and to build a new Canadian economy that works for everyone because I know we need change – big change, positive change.”
The election had to be held by October 20, but experts say Carney is hoping that an early vote will benefit his Liberal Party, which is riding a wave of momentum.
The party, which has been in government since 2015, has seen a surge in support since Trudeau’s January announcement that he planned to step down and amid repeated threats from Trump.
[Aljazeera]
Three people were killed and 15 others injured in a mass shooting between two rival groups at an unsanctioned car show on Friday in the US state of New Mexico, according to local authorities.
The shooting took place at Young Park in the city of Las Cruces, about 22:00 local time.
Four people have been charged with in relation to the three murders, Las Cruces Police Department said on Sunday, including a 15-year-old boy.
Two 19-year-old men and one 16-year-old boy died in the shooting, police said.
In a statement on X, Las Cruces police said those arrested and charged were two 17-year-old boys, a 15-year-old boy and a 20-year-old man.
Police chief Jeremy Story said there had been “an altercation between two groups of people and that altercation escalated to gunfire between both groups”. “Several other people were also injured in the crossfire.”
Mr Story said there had been “ill will” between the two groups prior to the car show.
About 50 to 60 bullet shell casings from handguns were found at the scene, police said, adding that the crime scene was huge and about 200 people had been at the park.
Police have asked any witnesses to come forward with information or video.
Those injured in the shooting ranged from ages 16 to 36. Authorities have not yet named any of the victims.
Seven patients were sent to nearby El Paso, Texas, which is just over the New Mexico border, for further medical treatment, said fire chief Michael Daniels.
Four other victims had been treated and released, Mr Daniels said.
[BBC]
Ingebrigtsen and Tsegay deliver while others surprise on final day
Canada’s PM Carney triggers snap election, vote set for April 28
Three killed and 15 injured in New Mexico mass shooting
-
Business3 days agoCargoserv Shipping partners Prima Ceylon & onboards Nestlé Lanka for landmark rail logistics initiative
-
Sports6 days agoSri Lanka to compete against USA, Jamaica in relay finals
-
Features1 day agoThe US, Israel, Palestine, and Mahmoud Khalil
-
News1 day agoScholarships for children of estate workers now open
-
Business3 days agoSri Lankans Vote Dialog as the Telecommunication Brand and Service Brand of the Year
-
News2 days agoDefence Ministry of Japan Delegation visits Pathfinder Foundation
-
News1 day agoSeniors welcome three percent increase in deposit rates
-
Features3 days agoThe Vaping Veil: Unmasking the dangers of E-Cigarettes