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List of All Articles with Tag 'euro'

ECB Is Entering Final Stretch of Interest Rate Hikes, Guindos Says
ECB Is Entering Final Stretch of Interest Rate Hikes, Guindos Says
The European Central Bank is “entering the final stretch” of its tightening cycle, according to Vice President Luis
2023-06-25 15:20
Russia Latest: Italy Now Sees Weakened Russia on Ukraine Front
Russia Latest: Italy Now Sees Weakened Russia on Ukraine Front
Wagner Group mercenary leader Yevgeny Prigozhin halted his dramatic advance toward Moscow and pulled his fighters back, defusing
2023-06-25 14:46
Mutiny, mayhem and panic on the streets of Moscow: Russia saved from brink of civil war at 11th hour
Mutiny, mayhem and panic on the streets of Moscow: Russia saved from brink of civil war at 11th hour
Russia appears to have stepped back from the brink of a full-scale armed mutiny, after the Wagner Group, one of the world’s most powerful private armies, halted a march on Moscow started by a vow for revenge. While the immediate threat seems to have been averted, the unprecedented attack on the Russian military establishment marks the most serious challenge to President Vladimir Putin in the 23 years he has ruled with an iron fist – and the crisis is unlikely to just disappear just because the military convoy halted 125 miles from the Russian capital. Earlier in an extraordinary day, a visibly angry Mr Putin made an emergency address to the nation railing against the attempted coup and said the very existence of the Russian state was at stake. "We are fighting for the lives and security of our people, for our sovereignty and independence,” he said, comparing the Wagner “mutiny” to the 1917 revolution that led to the collapse of imperial Russia. The source of his ire was Yevgeny Prigozhin, the outspoken leader of the Wagner mercenary group, who had vowed to avenge attacks he claimed were perpetrated by the Russian military against his men in eastern Ukraine. Mr Prigozhin vehemently denied accusations of treason and spent the day vowing to fight “until the end.” However, late on Saturday his band of mercenaries halted their march and would turn back “to avoid shedding Russian blood” – in a deal broken by Belarusian president and Russia’s closest ally Alexander Lukashenko. “In a day, we marched to nearly 200km outside of Moscow. In this time, we did not spill a single drop of blood of our fighters,” Mr Prigozhin said in audio messages shared to his Telegram channels. “Now, the moment has come when blood may spill. That’s why, understanding the responsibility of spilling Russian blood on one of the sides, we are turning back our convoys and going back to field camps according to the plan.” It was unclear on Saturday night exactly what the agreement to halt the Wagner convoy entailed, but the Kremlin confirmed that neither Mr Prigozhin nor his troops would face criminal charges over the insurrection. The Kremlin did not confirm Mr Prigozhin’s whereabouts but said he would be moved to Belarus, a close ally of Russia. In a day of dramatic developments: Moscow’s mayor urged all residents to stay in their homes Authorities declared a “counter-terrorist regime” in the capital – enhancing security and restricting some movement. Crews dug up sections of highways to slow the movement of the Wagner convoy There was confusion over Mr Putin’s whereabouts, with the Kremlin denying he had left the city in a plane There were also unconfirmed reports that a number of Russian officials had left the capital, with suggestions that Denis Manturov, a deputy prime minister may have flown to Turkey. The crisis ignited Friday night when Mr Prigozhin, a former hotdog seller turned powerful warlord, issued a string of expletive-riddled audio and video messages. He accused the top Russian military brass of bombing his camp in the eastern region of Donbas, “lying” about the motivations for invading Ukraine, and rampant corruption. As tensions mounted, Mr Putin responded by saying his former confidante was guilty of “armed insurrection” and “treason” and promised to punish those behind the “stab in the back”. Wagner forces – deployed along some of the toughest battle lines in Ukraine – crossed back into Russia, captured the logistical hub of Rostov in the south, and then set off on a 1000km race to the capital. Videos shared on their channels purportedly showed a column of tanks mounted on armoured cars and advanced Pantsir anti-aircraft missile system making its way north accompanied by as many as 5000 men, or a fifth of Wagner’s claimed total forces. Desperate to halt an advance, Russia's military fired on the column with helicopters, deployed tanks and even tore up key motorways with diggers according to videos posted online. "We will destroy anyone who stands in our way," Mr Prigozhin originally vowed. "We are moving forward and will go until the end," he added. The spectacular eruption of violence in Russia, came after searing tensions within the country’s top command since President Putin invaded Ukraine last February. Prigozhin, once a shadowy figure who denied his role with private military companies, has fast become the most outspoken and powerful figure in Putin’s war. His forces – which first appeared in Russia’s initial invasion of eastern Ukraine in 2014 – were stationed in some of the bloodiest battlefields like Bakhmut. There he would frequently post videos criticising the Ministry of Defence and top Russian generals for poor battle plans or not providing enough ammunition. This claim, his former troops say, was a ruse to allow him to stockpile weapons he ultimately used in Russia on Saturday. Speaking exclusively to The Independent, a former Wagner soldier, who was stationed near Bakhmut in November but managed to escape to Europe with the help of dissidents, said Mr Prigozhin was a “skilful manipulator”. The soldier said he had gained so much power due to the war in Ukraine. “Everyone should understand and realise that the regular army and those who serve in Wagner now are under the rule imposed by Prigozhin.” He said that Mr Prigozhin ruled by fear “in a dictatorial regime” and so people remain loyal to survive. “They are frightened reprisal if they speak out or fail to follow orders,” he said, asking to remain anonymous for his own security. He added that Mr Prigozhin’s “hysterical” statements and actions “were aimed at garnering support and creating the image of a strong leader.” “Even to this day, some people continue to view him favourably,” he added. In Ukraine, commanders, officials and foot soldiers watched with amusement, confusion and trepidation, at the events as they unfolded. The extraordinary disintegration of Russia’s top brass signalled an unprecedented opportunity on the battlefield, but many on the ground feared what forces were supporting Mr Prigozhin and the dangers of a President Putin backed into the corner. “If Prigozhin starts destroying aeroplanes and helicopters and makes it to Moscow, it means a big deal,” one Ukrainian intelligence source told The Independent. “He can’t be doing this on his own, he must be supported by someone, some oligarch, someone who wants to remove Putin and put him in power. We don’t know who that is, and that is worrying,” the source added. President Zelensky said that Saturday’s events showed the world “that the bosses of Russia do not control anything. Nothing at all”. It’s “complete chaos,” he wrote on his Twitter account. “There is complete absence of any predictability,” he added urging the West to give more support ousting Russia from Ukrainian lands. Ukrainian soldiers said Ukraine made modest gains on Saturday as the situation in Russia disintegrated. “Without a doubt, we will take advantage of this, as you will see in the near future,” Serhiy Cherevaty, spokesperson for the Armed forces in the east, told The Independent. Read More Russia-Ukraine war live: Prigozhin ‘won’t face criminal charges’ over Wagner coup against Putin ‘Let’s go home’: Wagner paramilitary troops prepare to turn around from Moscow advance Is this the end for Putin? His country now stands on the edge of civil war Putin has never looked weaker – it is hard to see how he can ever recover The Body in the Woods | An Independent TV Original Documentary The harrowing discovery at centre of The Independent’s new documentary
2023-06-25 04:54
Prigozhin Turns Forces Back, Kremlin Drops Charges in Compromise
Prigozhin Turns Forces Back, Kremlin Drops Charges in Compromise
Wagner mercenary leader Yevgeny Prigozhin halted his advance toward Moscow and sent his fighters back to their bases,
2023-06-25 04:50
Wagner chief turns troops back from Moscow ‘to avoid bloodshed’ in Russian city
Wagner chief turns troops back from Moscow ‘to avoid bloodshed’ in Russian city
Wagner boss Yevgeny Prigozhin has turned his troops back from Moscow to “avoid bloodshed” in the Russian city. In an audio message, the mercenary group leader said his soldiers would return to their bases, in a dramatic U-turn just hours before they were expected to reach the city. He said he gave the order to turn back from their advance on Moscow “because of the risk of blood being spilled”. The announcement appeared to defuse a growing crisis as Moscow braced for the arrival of the private army led by the rebellious commander. It comes as President Vladimir Putin had vowed he would face harsh consequences for what he described as a mutinous assault on Russia. Mr Prigozhin said his men were just 120 miles from Moscow but he had decided to turn them back to avoid “shedding Russian blood”. He did not say if the Kremlin has responded to his demand to oust defence minister Sergei Shoigu. The announcement follows a statement from the office of Belarusian president Alexander Lukashenko saying that he had negotiated a deal with Mr Prigozhin after previously discussing the issue with Mr Putin. Mr Prigozhin has accepted Mr Lukashenko’s offer to halt the Wagner group’s advance and further steps to de-escalate the tensions, Mr Lukashenko’s office said, adding that the proposed settlement contains security guarantees for Wagner troops. More follows... Read More Russia-Ukraine war live: Wagner boss turns troops back from Moscow as Kremlin denies Putin has fled Moscow tells residents ‘stay at home’ as Wagner rebels edge closer to Russian city Kremlin denies Putin has fled Moscow as Russia president’s plane ‘disappears’ Mapped: Inside Russian Wagner group’s location and road towards Moscow
2023-06-25 02:29
Moscow tells residents ‘stay at home’ as Wagner rebels edge closer to Russian city
Moscow tells residents ‘stay at home’ as Wagner rebels edge closer to Russian city
The mayor of Moscow has told residents not to travel around the city, with troops from the mutinous Wagner group now just hours away. Sergei Sobyanin also said that Monday would be a non-working day for most and that the measures were needed to “minimise risks”. He added that the situation was "difficult”. Yevgeny Prigozhin’s men are reportedly receiving a mixed reaction from Russians as they journey through the country to launch an assault on the capital after the leader of the mercenary group spoke out against the war in Ukraine. Protections have been put in place around Moscow with the Wagner group reportedly around four hours from its boundaries as its soldiers look set to pose the biggest threat to the rule of Vladimir Putin so far. Armed vehicles have also been filmed passing the Kremlin while it has been reported that the presidential plane has flown from Moscow to St Petersburg. Although the Kremlin denied Vladimir Putin had fled, saying he continued to work in the city. Moscow residents have shared their fears of the impending potential conflict. “It's frightening, of course,” Muscovite Nikolai told the Mail Online. “You sit at home thinking about what might happen. It's disturbing both for you and your loved ones.” Another resident, Sergei, added: “I think everything will turn out fine, but if they're preparing to bring in [anti-terror measures] then it means there's a reason for that.” Read More Russia-Ukraine war live: Kremlin denies Putin has fled Moscow as plane mysteriously disappears from radar Biden briefed on unfolding armed rebellion in Russia as US officials consult with allies Kremlin denies Putin has fled Moscow as Russia president’s plane ‘disappears’
2023-06-25 01:20
Zambia to Pay 1% Interest After ‘Mission Impossible’ Debt Deal
Zambia to Pay 1% Interest After ‘Mission Impossible’ Debt Deal
Zambia will pay interest rates of as low as 1% until 2037 as part of its debt restructuring
2023-06-24 23:22
Meloni Says Italian Vote on ESM Reform Would Be Mistake For Now
Meloni Says Italian Vote on ESM Reform Would Be Mistake For Now
Prime Minister Giorgia Meloni said she opposes having Italian lawmakers take up a revision of the euro area’s
2023-06-24 22:49
Kremlin denies Putin has fled Moscow as Russia president’s plane ‘disappears’
Kremlin denies Putin has fled Moscow as Russia president’s plane ‘disappears’
The Kremlin has denied Vladimir Putin fled Moscow by plane after claiming Russia is ‘facing treason’ from members of the mutinous Wagner group. One of several planes that Putin uses for official visits took off from Moscow at 2.15pm local time, according to Flight Radar, which tracks aircraft in real-time. Less than half an hour later, it went off radar about 150 kilometres from Mr Putin’s official residents. “Putin is working at the Kremlin,” his spokesman Dmitry Peskov told the Tass news agency when asked about reports of him going to the north-west, possibly St Petersburg. FlightRadar data reported that at 15:06 that the plane disappeared from radars near the Tver region. It is believed one of Putin’s residences is located in the Tver region. Deputy premier Denis Manturov, left Russia for Turkey on Saturday, according to multiple reports. It comes after Russian mercenary chief Yevgeny Prigozhin claimed he and his troops had taken control of key sites in Rostov-on-Don, a major logistical hub, including the airfield. An audio message on the social media app Telegram detailed Prigozhin’s fighters had crossed the border and were “ready to die” in confrontation with those in their way. “All of us are ready to die. All 25,000, and then another 25,000,” he said, after earlier accusing the Russian top brass of launching strikes against his men,” he said. “We are dying for the Russian people.” Prigozhin later took to the Wagner Telegram channel to share a chilling message for the Russian president. “Putin made the wrong choice. All the worse for him,” he wrote. “Soon we will have a new president.” However, Putin was quick to double-down on those working outside his regime and warned on Saturday morning of “inevitable punishment” for anyone dividing Russian society. “This is a criminal campaign. It is equivalent to armed mutiny,” Putin said. “Russia will defend itself and repel this move. We are fighting for the life and security of our citizens and our territorial integrity. “In the face of those who are fighting on the front, this is a stab in the back of the troops and the people of Russia.” Wagner are a private paramilitary group run by Prigozhin who currently claims to have more than 25,000 fighters under his command. Read More Ukraine-Russia war – live: Furious Putin calls Wagner mutiny ‘treason’ and ‘mortal blow’ to troops Rishi Sunak ‘in touch with allies’ about Wagner group rebellion in Russia Is this the end for Putin? His country now stands on the edge of civil war The Body in the Woods | An Independent TV Original Documentary The harrowing discovery at centre of The Independent’s new documentary
2023-06-24 22:46
UK Pension Reform May Drive Billions to Riskier Assets, FT Says
UK Pension Reform May Drive Billions to Riskier Assets, FT Says
Highly-anticipated reforms of UK pensions could channel billions of pounds into fast-growing companies and boost investments in riskier
2023-06-24 21:22
Wagner Chief Directly Challenges Putin as Russia Crisis Spirals
Wagner Chief Directly Challenges Putin as Russia Crisis Spirals
Wagner leader Yevgeny Prigozhin said his forces won’t surrender after Russian President Vladimir Putin denounced their military rebellion
2023-06-24 21:18
Ukraine commanders say they will exploit ‘military coup’ in Russia to re-take territory
Ukraine commanders say they will exploit ‘military coup’ in Russia to re-take territory
Ukrainian forces are advancing in East Ukraine and have vowed to take advantage of an unfolding “civil war” in Russia, as Vladimir Putin faces an armed insurrection by the country’s most powerful mercenary group. In a direct threat to Putin’s authority, Yevgeny Prigozhin, the leader of Wagner, accused Moscow’s military of bombing his men and seized control of a key Russian city on Saturday morning. The outspoken leader of the world’s most infamous private army promised to march on the capital to get his revenge. In an unprecedented speech, Mr Putin called the act “treason” and said those who “took the part of blackmail and terrorist method will suffer inevitable punishment”. Ukrainian President Zelensky broke his silence to say it was another example of “Russia’s full-scale weakness”. Watching eagerly from across the frontlines, Ukrainian commanders, defence ministry officials and soldiers, told The Independent the country was “maximising” the extraordinary implosion of military leadership in Russia to push forward with their much-anticipated counter-offensive. Soldiers on the ground, speaking on the condition of anonymity, said overnight they had already advanced on the battle-ravaged Bakhmut in the eastern region of Donbas. Wagner forces have largely spearheaded Russia’s advance on the city which has been locked in a bloody stalemate that it earned the moniker of “meat grinder”. “Without a doubt, we will take advantage of this, as you will see in the near future,” Serhiy Cherevaty, spokesperson for the Ukrainian Armed Forces in the east, told The Independent, adding that Ukraine had long waited for Russia’s “irregular”’ reliance on mercenaries to backfire. “We predicted this would happen sooner or later and would lead to a larger escalation,” he continued. “Prigozhin is a media mogul, he has a powerful troll factory, a network of telegram channels, and has bought military journalists. All this is seen by [Russia’s] military personnel, and it demoralises them. “We will definitely take advantage of the enemy's confusion.” Yuriy Sak, a top advisor to Ukraine's defence minister, told The Independent that the Ukrainian leadership was closely watching a “real military coup”. “We have been saying for a long time that Russia is on the path to civil war and now we are seeing this unfold in real-time.” “But we are still focused on the frontlines,” he added. “We maximise every moment and every opportunity. This one is no exception." Soldiers on the ground told The Independent they had managed to take some streets in the east of the country and were pressing ahead Saturday afternoon. They spoke on the condition of anonymity as they are not authorised to comment to the media. “We are advancing in the Bakhmut direction, we have managed to take some streets and prisoners. And we will keep going,” said one infantryman in the east. “We had a productive night,” said another. “We can only take advantage of their confusion and seize certain parts of the front faster,” a third soldier wrote. Russian President Vladimir Putin vowed to crush what he called an "armed mutiny" after Prigozhin and his private army seized control of Rostov-on–Don Saturday early morning. The city, which is home to more than a million people, is close to the border with Ukraine and a key logistical hub for Russia’s invasion forces. Prigozhin, who has frequently lashed out Russia’s generals, vehemently denied “betraying” his country. In multiple audio messages shared online, he vowed to oust the country’s military leadership that he accused of bombing his men, rampant corruption and “lying” to Putin and to the country about their motivations behind launching a war in Ukraine. The former food vendor turned mercenary chief said he had captured the headquarters of Russia's Southern Military District after leading his forces into Russia from Ukraine. Russian officials announced an immediate state of emergency across swathes of the country and shut down roads from the south to the capital. But unverified videos later posted to Wagner’s telegram groups allegedly showed their forces already en route to Voronezh city, which lies on the main road to Moscow. They claimed Russian servicemen “lay down their arms” in Wagner's wake. Other videos shared to Telegram groups associated with Russia’s security apparatus appeared to show multiple explosions in the Voronezh region, including an oil depot on fire. “Regarding the betrayal of the motherland - [President Putin] was deeply mistaken,” Prizhochin said in his latest audio clip shared online. “We are patriots of our country, we fought and are fighting. No one is going to turn themselves in at the request of the president, the [intelligence] or anyone else,” he vowed. President Zelensky meanwhile said that “Russia’s weakness is obvious”, in comments posted to Twitter. “Everyone who chooses the path of evil destroys himself," he continued. “The longer Russia keeps its troops and mercenaries on our land, the more chaos, pain, and problems it will have for itself later.” British defence officials said that Russia was facing “the greatest challenge in recent times” Prime Minister Rishi Sunak said on Saturday urged all parties in Russia to protect civilians. Read More Rishi Sunak ‘in touch with allies’ about Wagner group rebellion in Russia Who is Yevgeny Prigozhin? The Wagner mercenary chief urging a ‘civil war’ against Putin Russia-Ukraine war live: Furious Putin calls Wagner mutiny ‘treason’ and ‘mortal blow’ to troops The Body in the Woods | An Independent TV Original Documentary The harrowing discovery at centre of The Independent’s new documentary
2023-06-24 20:28
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