World
Putin signs decree to control two foreign firms’ assets in Russia
Transfer seen as signal that Moscow might take additional motion if Russian belongings overseas are seized to pay for harm brought about to Ukraine by conflict.
President Vladimir Putin has signed a decree that takes momentary management of the Russian subsidiaries of two overseas vitality companies, signalling that Moscow might take related motion in opposition to different worldwide firms if Russian belongings overseas are seized.
The decree — outlining potential retaliation if Russian belongings overseas are harmed — confirmed Moscow had already taken motion in opposition to Germany’s Uniper division in Russia and the belongings of Finland’s Fortum Oyj.
The decree mentioned Russia wanted to take pressing measures to answer unspecified actions from the US and others it mentioned had been “unfriendly and opposite to worldwide regulation”.
In October, European Council President Charles Michel mentioned the European Union was taking a look at utilizing seized Russian belongings — frozen below sanctions in opposition to Moscow for its invasion of Ukraine — to assist rebuild Ukraine.
The chief government of Russia’s state-owned Financial institution VTB PAO mentioned on Monday that Moscow ought to take into account taking up the belongings of overseas firms in Russia, resembling Fortum, and solely return them when sanctions over the conflict in Ukraine are lifted.
Shares in Uniper and Fortum Oyj have been positioned within the momentary management of Rosimushchestvo, the Russian federal authorities’s property company, the decree mentioned. Rosimushchestvo mentioned extra overseas companies might discover their belongings below momentary Russian management, state information company TASS reported.
“The decree doesn’t concern possession points and doesn’t deprive homeowners of their belongings. Exterior administration is momentary in nature and means the unique proprietor now not has the correct to make administration selections,” TASS cited the company as saying.
In February, US Treasury Secretary Janet Yellen mentioned Russia ought to bear the prices of the massive harm brought on by its conflict on Ukraine, although additionally noting that there have been “important authorized obstacles” to confiscating main frozen Russian belongings.
In November, the UN adopted a decision calling on Russia to be held accountable for invading Ukraine, which was opposite to worldwide regulation, and for Moscow to pay reparation for its destruction of Ukraine and the lives misplaced.
The decision said that Moscow “should bear the authorized penalties of all its internationally wrongful acts, together with making reparation for harm, together with any harm, brought on by such acts”.
The momentary seizures of the 2 companies might come as no shock.
Fortum had already warned shareholders there was a danger its Russian belongings might be expropriated.
Uniper has an 83.73 p.c stake within the Russian subsidiary Unipro, which for years had provided pure fuel deliveries to Germany. Even earlier than Russia’s invasion of Ukraine, Uniper had sought to promote its stake in Unipro. A purchaser was discovered, however the Russian authorities by no means accredited the sale.
World
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World
Israel moves towards ceasefire deal with Hezbollah: reports
Israel is reportedly moving towards a ceasefire agreement with Hezbollah in Lebanon after nearly a year of fighting escalated into an all-out war in September.
Israeli media outlets including YNET and Haaretz have reported that Israel has tentatively agreed to a U.S.-backed proposal for a ceasefire. No final deal has been reached, according to the reports.
Lebanon and the militia group Hezbollah reportedly agreed to the deal last week but both sides need to give the final okay before it can materialize.
The reported ceasefire deal comes after Hezbollah launched one of its largest rocket attacks on Israel in exchange for Israeli forces striking Hezbollah command centers in Beirut.
This is a developing story. Check back for updates.
World
Yamandu Orsi wins Uruguay’s run-off presidential election
Yamandu Orsi, the candidate for the left-wing Broad Front coalition, is projected to emerge victorious in Uruguay’s run-off election for the presidency.
He bested Alvaro Delgado of the ruling National Party to win the tightly fought race, though public opinion polls showed the two candidates in a dead heat in the lead-up to Sunday’s vote.
Orsi’s supporters took to the streets in the capital of Montevideo, as the official results started to show the former mayor and history teacher surging ahead.
Many waved the party banner: a red, blue and white striped flag with the initials FA for “Frente Amplio”, which translates to “Broad Front”.
“Joy will return for the majority,” the coalition posted on social media as Orsi approached victory. “Cheers, people of Uruguay.”
Orsi’s win restores the Broad Front to power in the small South American country, sandwiched on the Atlantic coast between Brazil and Argentina.
For 15 years, from 2005 to 2020, the Broad Front had held Uruguay’s executive office, with the presidencies of Jose Mujica and Tabare Vazquez, the latter of whom won two non-consecutive, five-year terms.
But that winning streak came to an end in the 2019 election, with the victory of current President Luis Lacalle Pou, who led a coalition of right-leaning parties.
Under Uruguay law, however, a president cannot run for consecutive terms. Lacalle Pou was therefore not a candidate in the 2024 race.
Running in his stead was Delgado, a former veterinarian and Congress member who served as a political appointee in Lacalle Pou’s government from 2020 to 2023.
Even before the official results were announced on Sunday, Delgado had conceded, acknowledging Orsi’s victory was imminent.
“Today, the Uruguayans have defined who will hold the presidency of the republic. And I want to send here, with all these actors of the coalition, a big hug and a greeting to Yamandu Orsi,” Delgado said in a speech as he clutched a large Uruguayan flag in his hand.
He called on his supporters to “respect the sovereign decisions” of the electorate, while striking a note of defiance.
“It’s one thing to lose an election, and another to be defeated. We are not defeated,” he said, pledging that his right-wing coalition was “here to stay”.
The outgoing president, Lacalle Pou, also reached out to Orsi to acknowledge the Broad Front’s victory.
“I called [Yamandu Orsi] to congratulate him as president-elect of our country and to put myself at his service and begin the transition as soon as I deem it pertinent,” Lacalle Pou wrote on social media.
Orsi had been considered the frontrunner in the lead-up to the first round of the elections.
Originally from Canelones, a coastal regional in the south of Uruguay, Orsi began his career locally as a history teacher, activist and secretary-general of the department’s government. In 2015, he successfully ran to be mayor of Canelones and won re-election in 2020.
In the 2024 presidential race, Orsi – like virtually all the candidates on the campaign trail – pledged to bolster Uruguay’s economy. He called for salary increases, particularly for low-wage workers, to grow their “purchasing power”.
He also called for greater early childhood education and employment programmes for young adults. According to a United Nations report earlier this year, nearly 25 percent of Uruguay’s children live in poverty.
But the economy was not the only issue at the forefront of voters’ minds. In a June survey from the communications firm Nomade, the largest share of respondents – 29 percent – identified “insecurity” as Uruguay’s “principal problem”.
That dwarfed the second-highest ranked topic: “Unemployment” was only picked by 15 percent of respondents.
As part of his platform, Orsi pledged to increase the police force and strengthen Uruguay’s borders, including through the installation of more security cameras.
As he campaigned, Orsi enjoyed the support of former President Mujica, a former rebel fighter who survived torture under Uruguay’s military dictatorship in the 1970s and ’80s.
Mujica remains a popular figure on Uruguay’s left, best known for his humble living arrangements that once earned him the moniker of the “world’s poorest president”.
In the first round of voting, on October 27, Orsi came out on top, with 44 percent of the vote to Delgado’s 27 percent. But his total was far short of the 50 percent he needed to win the election outright, thereby triggering a run-off.
The race got tighter from there forward. Only two candidates progressed to the run-off – Delgado and Orsi – and Delgado picked up support from voters who had backed former Colorado Party candidate Andres Ojeda, a fellow conservative who was knocked out in the first round.
Nevertheless, Orsi quickly pulled ahead after the polls closed for the run-off election on Sunday.
“The horizon is brightening,” Orsi said in his victory speech. “The country of freedom, equality and also fraternity triumphs once again.”
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