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EU names Russian banks banned from raising capital

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(Last Updated On: August 1, 2014)

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The European Union (EU) banned five Russian banks from raising capital on the European Union’s capital markets as part of a wider package of sanctions on Moscow over its actions in the Ukraine conflict.

Due to enter into force on 1 August,  the ban targets Russian banks with state ownership of more than 50%. It excludes EU subsidiaries of the Russian banks.

Marking a fundamental shift in how Europe deals with Russia, the sanctions will mean EU nationals and companies can no longer buy or sell new bonds, equity or other financial instruments with a maturity of more than 90 days issued by major state-owned Russian banks or those acting on their behalf.

The European Union formally adopted sanctions on Thursday, which also curb arms sales to Russia. Others limit defence sales and the export of hi-tech equipment for the oil sector.

Until this week, Europe had imposed sanctions only on individuals and organisations accused of direct involvement in threatening Ukraine, and had shied away from wider “sectoral sanctions”. It published a new list of associates of Putin and companies subject to asset freezes late on Wednesday.

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FBI searches Trump’s Florida home as part of presidential records probe

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(Last Updated On: August 9, 2022)

Former US president Donald Trump said FBI agents raided his Mar-a-Lago estate on Monday and broke into his safe in what his son acknowledged was part of an investigation into Trump’s removal of official presidential records from the White House to his Florida resort.

The unprecedented search of a former president’s home would mark a significant escalation into the records investigation, which is one of several probes Trump is facing from his time in office and in private business. 

The U.S. Justice Department declined to comment on the search, which Trump in a statement called a raid and said involved a “large group of FBI agents.” The FBI’s headquarters in Washington and its field office in Miami both declined comment, Reuters reported.

Eric Trump, one of the former president’s adult children, told Fox News the search concerned boxes of documents that Trump brought with him from the White House, and that his father has been cooperating with the National Archives on the matter for months.

A source familiar with the matter also confirmed to Reuters the raid appeared to be tied to Trump’s removal of classified records from the White House.

“After working and cooperating with the relevant Government agencies, this unannounced raid on my home was not necessary or appropriate,” Trump said, adding: “They even broke into my safe!”

Trump was not present at the time as he was in New York on Monday, Fox News Digital reported, publishing a photo of Trump that a Fox reporter said showed him leaving Trump Tower.

Trump, who has made his club in Palm Beach his home since leaving the White House in January 2021, has generally spent summers at his golf club in Bedminster, New Jersey, because Mar-a-Lago typically closes for the summer.

A federal law called the U.S. Presidential Records Act requires the preservation of memos, letters, notes, emails, faxes and other written communications related to a president’s official duties.

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China continues military drills around Taiwan

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(Last Updated On: August 8, 2022)

China’s military said on Monday it is continuing drills in the seas and skies around Taiwan.

The Eastern Theater Command of China’s People’s Liberation Army said on social media Weibo that it will practice conducting anti-submarine attacks and sea raids, Reuters reported.

The military has carried out an unprecedented set of naval and air force drills in areas near Taiwan following U.S. House Speaker Nancy Pelosi’s visit to the island last week.

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Bus crash in Croatia leaves 12 Polish pilgrims dead, 32 injured

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(Last Updated On: August 7, 2022)

Twelve people were killed in Croatia on Saturday when a Polish bus filled with religious pilgrims slipped off a road and crashed near Varazdin, authorities said, Reuters reported.

Thirty-two people were injured in the crash which happened at 5:40 a.m. (0340 GMT) on the highway between Varazdin, in northwest Croatia, and capital Zagreb.

Croatian Health Minister Vili Beros said 19 people were in a serious condition.

According to Reuters Marcin Przydacz, deputy head of the Polish Foreign Ministry, who was travelling to the site on Saturday, said the injured were being treated at five hospitals in Croatia.

He said there were 44 Polish pilgrims on the bus driving from Poland to Medjugorje, a Roman Catholic shrine in southern Bosnia, including two drivers. Among them were three priests and six nuns, a ministry spokesman said.

Police cleared the area where the accident took place after firefighters and medical teams recovered all the occupants of the vehicle which had Warsaw registration plates, read the report.

Polish police officers, in Croatia as part of project “Safe Tourist Destination” project, were helping Croatian authorities in communicating with the survivors.

An investigation has been started into the cause of the accident.

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