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The EU wants to invest frozen Russian assets but it’s ‘legally dodgy’

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The EU wants to invest frozen Russian assets but it’s ‘legally dodgy’

Three months after the concept was first floated, plans by the European Union to speculate frozen Russian property to generate revenues to fund Ukraine’s reconstruction seem stalled.

The proposal is described as “deeply problematic” and dealing with “vital hurdles” by authorized consultants. 

The usage of frozen Russian property was to be mentioned by EU leaders who convened in Brussels on Thursday for a rare summit. Continued help for Ukraine, an everyday subject of debate amongst leaders since Russia launched its assault practically a 12 months in the past, was made all of the extra distinguished by the presence in Brussels of Ukrainian President Volodymyr Zelenskyy.

In draft conclusions written forward of the summit and seen by Euronews, leaders pledged to step up work with worldwide companions “in direction of using Russia’s frozen and immobilised property to help Ukraine’s reconstruction and for the aim of reparation, in accordance with worldwide legislation.”

Estonia Prime Minister Kaja Kallas was amongst these calling for “a European resolution to proceed with using frozen property” as she arrived in Brussels. 

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“We’ve been determining, as I am a lawyer by occupation, I have been educated to search out options,” she added, suggesting that the EU leverage these property as a part of a settlement between the 2 warring international locations “as a result of Ukraine has a declare in direction of Russia to restore what they’ve brought on all of the damages in Ukraine.”

‘A number of billions for reconstruction

In accordance with an EU official who spoke forward of the summit, the primary thought on the desk stays to make investments the frozen property to generate earnings and use these solely.

“Legally in a sanction regime, you should be capable of give that cash again when the sanction regime is suspended so you can not spend it after which end up with out the cash. You possibly can’t do this so it’s worthwhile to cowl (the frozen quantity),” the official mentioned.

About €300 billion of worldwide reserves owned by the Russian Central Financial institution have been frozen by Western allies since Russia first despatched its tanks into Ukraine on 24 February.

Theoretically, property frozen due to sanctions might stay frozen indefinitely. Unfreezing them would both require the sanctioned particular person or entity to efficiently problem the order in courtroom or victims to mount their very own authorized battles to obtain a number of the frozen property as compensation.

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“What you are able to do is to make use of it and make advantages and use that cash and positively for reconstruction,” the EU official insisted. “So for those who handle effectively (the) €300 billion, you’ll be able to handle just a few ones for reconstruction. That is the idea.”

The thought to reinvest the cash sitting frozen and to make use of the earnings to help Ukraine was first proposed by the Fee in November as a part of its “Make Russia Pay” plan. It estimated then that reconstructing Ukraine would require at the least €600 billion however the price is prone to have ballooned since then as Russia subjected Ukraine to relentless missile strikes over the previous few months, together with on key civilian infrastructure. 

But practically three months later, rather more nonetheless must be completed on the proposal. 

“The primary elementary query is the place are the Russian property? It sounds trivial, however it’s a essential query. There are the central banks, the business banks, the exchanges, there are the European Union member states, and all of the G7 members,” the EU official mentioned. 

“We are going to first do a mapping and we should take a look at all of the obstacles,” they mentioned, including that “some will say there are too many authorized uncertainties. and attainable authorized actions”.

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‘Inventive, however legally dodgy plan’

That’s the opinion of Evan Criddle, a Professor of Legislation on the William & Mary Legislation College within the US, who instructed Euronews the proposal “can be deeply problematic below worldwide legislation.”

Some countermeasures permitting using property below very particular circumstances might be taken below Worldwide legislation permits. However “any use or disposition of Russian property for different functions, nonetheless well-intentioned, comparable to to generate earnings that may very well be used to help Ukraine, would transcend the widely accepted functions of internationally lawful countermeasures,” he added. 

Russian entities, as an illustration, might declare that they’re entitled to a number of the earnings generated from the funding of the frozen property and problem the choice in each the Common Courtroom of the European Union and the European Courtroom of Human Rights, Francis Bond, a number one practitioner on worldwide monetary sanctions issues from the Macfarlanes legislation agency instructed Euronews. 

After which there are sensible points, he mentioned, comparable to discovering an asset supervisor courageous sufficient to tackle the authorized legal responsibility and public scrutiny that might come from managing frozen Russian property. 

“As well as after all, because the small print all the time says: the worth of your investments might go down in addition to up. If the investments lose cash, the Fee might discover itself within the unenviable place of both guaranteeing Russian property with public cash or inviting a flood of considerable authorized actions from the homeowners of the property,” Bond mentioned. 

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“If I have been serving as authorized adviser to the EU and its companions,” Criddle concluded, “I’d advise towards this artistic, however legally dodgy plan.”

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Are you in charge of a holiday feast? Follow these tips for food safety

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Are you in charge of a holiday feast? Follow these tips for food safety

Ready or not, the holidays are here. It’s a time when many Americans accustomed to preparing simple meals find themselves responsible for safely serving multi-dish feasts.

It’s no easy task. Outbreaks of some types of food poisoning tend to rise in November and December, according to the U.S. Centers for Disease Control and Prevention. Tainted turkey, undercooked stuffing and germ-laced gravy from holiday buffets have all led to past illnesses — and even deaths — CDC investigators have found.

It can be tricky for occasional cooks to prepare big meals in a way that avoids the common hazards that can make people sick, said Donald Schaffner, a food science expert at Rutgers University.

“Cooking takes longer with big masses of food. Cooling takes longer with big masses of food,” said Schaffner, who co-hosts the food-safety podcast “Risky or Not?”

Together with podcast co-host Benjamin Chapman, a food scientist at North Carolina State University, Schaffner outlined common ways to keep holiday meals both festive and safe.

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This article is part of AP’s Be Well coverage, focusing on wellness, fitness, diet and mental health. Read more Be Well.

Prepare the turkey

Nearly 90% of U.S. hosts plan to serve turkey on Thanksgiving this year, according to the turkey producer Butterball.

But raw turkey can harbor illness-causing bacteria such as salmonella, campylobacter and other germs. It must be handled safely to prevent those bugs from contaminating refrigerator surfaces, sinks and kitchen counters.

A frozen bird must be thawed first. There are several accepted methods, including in the refrigerator, in the microwave or in cold running water, Schaffner said.

“All of these methods pose risks,” he cautioned.

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A frozen turkey needs about 24 hours for every 4 to 5 pounds of weight to thaw in a refrigerator, according to the Agriculture Department. If you use a microwave or the cold water method, the bird must be cooked immediately. For details about safe turkey handling, check out the thawing and cooking calculators created by the USDA.

And don’t wash the turkey. It’s a bad idea to rinse it in the sink, even though many cooks still insist on the practice, often out of habit, said Chapman.

“Anything that hits that surface and generates spray is going to basically spread contamination around your kitchen,” he said.

Instead, pat the turkey dry with paper towels and toss them, or use a kitchen towel and disinfect it in the laundry.

What about roasting?

Turkey needs to reach a cooked temperature of 165 degrees Fahrenheit before serving. The best way to tell if it’s cooked is to use a tip-sensitive digital thermometer inserted in the innermost section of the thigh, not touching the bone.

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Don’t rely on the plastic pop-up thermometers stuck in some commercial turkeys. Chapman’s past research shows that those buttons can activate well before the bird is actually done.

At the same time, don’t determine doneness by relying on signs such as golden-brown skin, whether the meat is no longer pink or whether the juices run clear.

“None of those are great indicators of temperature,” Chapman said.

Side dishes and leftovers

How you handle the rest of the meal — mashed potatoes, gravy, green beans or yams — is just as important as the main dish. It’s crucial to avoid the so-called danger zone of temperatures between 40 degrees and 140 degrees Fahrenheit, where bacteria can easily grow.

The key is to keep hot foods piping hot and cold foods cold — and to refrigerate everything promptly, Schaffner said.

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“The recommendation is that you get those leftovers into the refrigerator within two hours of when they came off of the stove,” he said.

Make sure to refrigerate dense foods like sliced turkey, cooked sweet potatoes or gravy in shallow containers to help them cool down fast. Schaffner’s recent research showed that foods cooled in containers at a depth of no more than 2 inches posed little risk of growing dangerous germs.

Keep it clean

One key way to avoid food poisoning is through scrupulous cleaning in the kitchen.

Wash your hands before preparing food and after touching raw poultry. Use separate cutting boards, knives and other utensils when handling raw meat and fresh foods such as vegetables and salads.

Pay close attention to any surface that may be contaminated. It’s important to clean first with soap and water and then sanitize with a disinfectant — a two-step process.

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The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Science and Educational Media Group. The AP is solely responsible for all content.

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Uruguay ousts conservative government, elects leftist opposition candidate as turnout hits 90 percent

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Uruguay ousts conservative government, elects leftist opposition candidate as turnout hits 90 percent

Uruguay ousted its conservative government that had been in charge for the past five years, as leftist opposition candidate Yamandú Orsi claimed victory in a tight presidential runoff Sunday.

Even as the vote count continued, Álvaro Delgado, the presidential candidate of the center-right ruling coalition, conceded defeat to his challenger.

“With sadness, but without guilt, we can congratulate the winner,” he told supporters at his campaign headquarters in the capital of Montevideo. 

Orsi, 57, a working-class former history teacher and two-time mayor from Uruguay’s Broad Front coalition, was mentored by former President José “Pepe” Mujica, an ex-Marxist guerilla who became world renowned for driving Uruguay’s legalization of abortion, same-sex marriage and sale of marijuana a decade ago. Orsi thanked his supporters as crowds flocked to greet him.

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Yamandu Orsi, candidate for the Broad Front (Frente Amplio) and running mate Carolina Cosse, right, celebrate after polls closed in the presidential run-off election in Montevideo, Uruguay, Sunday, Nov. 24, 2024.  (AP Photo/Natacha Pisarenko)

“The country of liberty, equality and fraternity has triumphed once again,” he said, vowing to unite the nation of 3.4 million people after such a tight vote.

“Let’s understand that there is another part of our country who have different feelings today,” he said. “These people will also have to help build a better country. We need them too.”

“I will be the president who calls for national dialogue again and again, who builds a more integrated society and country,” Orsi said.

“Starting tomorrow, I’ll have to work very hard, there’s a lot to do,” he told the Associated Press from the glass-walled NH Columbia hotel, thronged friends and colleagues embracing and congratulating him.

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With nearly all the votes counted, electoral officials reported that Orsi won just over 49% of the vote, ahead of Delgado’s 46%. The rest cast blank votes or abstained in defiance of Uruguay’s enforced compulsory voting. Turnout reached almost 90%.

After weeks in which the rivals appeared tied in the polls, Delgado’s concession ushers in Orsi as Uruguay’s new leader and cuts short the center-right Republican coalition’s shot at governing. 

Delgado concession speech

Alvaro Delgado, presidential candidate for the ruling National Party, concedes defeat in Montevideo, Uruguay, Sunday, Nov. 24, 2024.  (AP Photo/Matilde Campodonico)

The 2019 election of President Luis Lacalle Pou spelled an end to 15 consecutive years of rule by the Broad Front.

“I called Yamandú Orsi to congratulate him as President-elect of our country,” Lacalle Pou wrote on social media platform X, adding that he would “put myself at his service and begin the transition as soon as I deem it appropriate.”

Orsi’s victory made the South American country the latest to rebuke the incumbent party in the wake of post-pandemic economic malaise.

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The win contrasts with that of populist Javier Milei, who won the presidency in Argentina in 2023 by promising to overhaul the establishment to deal with soaring inflation and poverty. Milei reportedly has grown close to President-elect Trump. 

Orsi has been described as a moderate with no radical plans for change. He largely agrees with his opponent on key voter concerns like driving down the childhood poverty rate, now at a staggering 25%, and containing an upsurge in organized crime that has shaken the nation long considered among Latin America’s safest. 

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Despite Orsi’s promise to lead a “new left” in Uruguay, his platform resembles the mix of market-friendly policies and welfare programs that characterized the Broad Front’s tenure from 2005-2020.

Mujica, now 89 and recovering from esophageal cancer, turned up at his local polling station before balloting even began on Sunday to praise Orsi’s humility and Uruguay’s proud stability.

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“This is no small feat,” he said of his nation’s “citizenry that respects formal institutions.”

With inflation easing, and the economy expected to expand by some 3.2% this year, Delgado had promised to continue pursuing his predecessor’s pro-business policies. 

Frente Amplio supporters wave flag out of a car celebrating win

Supporters of the Broad Front (Frente Amplio) celebrate the victory of candidate Yamandú Orsi in Montevideo, Uruguay, Sunday, Nov. 24, 2024.  (AP Photo/Matilde Campodonico)

Lacalle Pou, who constitutionally cannot run for a second consecutive term, has enjoyed high approval ratings. But the official results trickling in on Sunday showed that mounting complaints in Uruguay about years of sluggish economic growth, stagnant wages and the government’s struggle to contain crime after five years helped swing the election against Delgado.

Specific proposals by Orsi include tax incentives to lure investment and revitalize the critical agricultural sector, as well as social security reforms that would lower the retirement age but fall short of a radical overhaul sought by Uruguay’s unions that failed to pass in the Oct. 27 general election during which neither front-runner secured an outright majority. 

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He is also likely to put an end to a trade agreement with China that Lacalle Pou had pursued to the chagrin of Mercosur, an alliance of South American nations promoting regional commerce.

His government will take office on March 1, 2025.

The Associated Press contributed to this report.

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Scholz gets SPD's chancellor candidate nod after weeks of doubt

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Scholz gets SPD's chancellor candidate nod after weeks of doubt

Germany’s centre-left Social Democracts have chosen to officially nominate current Chancellor Olaf Scholz as their party’s candidate despite his low approval ratings.

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Olaf Scholz has been officially nominated by his Social Democratic Party (SPD) as its candidate for German chancellor in snap elections set for 23 February.

The incumbent chancellor’s nomination comes after weeks of tense discussions within the centre-left party over whether he was the right person for the job.

Some members of his party rallied around Defence Minister Boris Pistorius — who enjoys higher approval ratings — as a replacement for Scholz.

On Thursday, Pistorius said he was not “available” to run for chancellor, paving the way for Scholz to be at the top of the party’s ballot.

The SPD’s executive committee officially nominated Scholz on Monday, with Pistorius one of the 33 senior members of the party with the right to vote on the matter.

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According to a recent poll by public broadcaster ZDF last week, only 37% of respondents thought Scholz was doing a good job in his current role as chancellor.

A separate survey showed a large majority (78%) thought the SPD would achieve a better result in February’s upcoming election with Pistorius as the candidate for chancellor. Only 11% said they thought the SPD would achieve victory in the election under Scholz.

Internal wrangling

At a meeting of SPD’s official youth branch this weekend, the party’s top was accused of leading the party to a disaster.

Two weeks of internal discussions over who should be the candidate have left their mark, according to younger members of the party.

One of the party’s leaders, Saskia Esken, said at a press conference that the party wasn’t portraying “a good picture in the nomination of our chancellor candidate.”

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Scholz’s ruling “streetlight” coalition, which was comprised of the SPD, the Greens, and the liberal Free Democratic Party (FDP), collapsed earlier this month in public fashion after Scholz fired his Finance Minister Christian Lindner, who hails from the liberal centrist FDP.

Lacking a parliamentary majority, Scholz agreed to hold a no-confidence vote on 16 December, with general elections set for 23 February 2025.

Currently, the centre-right Christian Democratic Union (CDU) is leading in the polls with 32%. They have chosen Friedrich Merz as their candidate for chancellor.

The environmentalist Greens party picked Robert Habeck as their top choice, while the far-right Alternative for Germany (AfD) named Alice Weidel, which was the first time the party had nominated an official chancellor candidate.

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