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EU's new oil price cap to hit Russia, but analyst says U.S. could be the real 'game-changer'

EU's new oil price cap to hit Russia, but analyst says U.S. could be the real 'game-changer'

CNBC2 days ago
Carole Nakhle, CEO of Crystol Energy explains why the EU's latest oil price caps on Russia are likely to be more effective than previous sanctions. However, she says U.S. sanctions on buyers of Russian oil will be the real "game-changer", adding that India will be the most affected.
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Zelenskyy faces backlash as Ukrainians protest new anti-corruption law
Zelenskyy faces backlash as Ukrainians protest new anti-corruption law

San Francisco Chronicle​

time8 minutes ago

  • San Francisco Chronicle​

Zelenskyy faces backlash as Ukrainians protest new anti-corruption law

KYIV, Ukraine (AP) — Ukrainian activists called for more protests against a law they say weakens the country's anti-corruption bodies. The legislation has also drawn rebukes from European Union officials and international rights groups. Thousands of people gathered in the capital and other cities across Ukraine on Tuesday evening to urge President Volodymyr Zelenskyy to veto a controversial bill passed by Ukraine's Parliament earlier that day. After Zelenskyy approved it, activists called on social media for another demonstration in the center of Kyiv at 8 p.m. Wednesday. The legislation tightens government oversight of two key anti-corruption agencies. Critics say the step could significantly weaken the independence of those agencies and grant Zelenskyy's circle greater influence over investigations. Fighting entrenched corruption is crucial for Ukraine's aspirations to join the EU and maintain access to billions of dollars in Western aid in its fight against Russia's three-year invasion. Instead of vetoing the bill as protestors demanded, Zelenskyy signed it into law and argued for it, in a move that risked his public support after more than three years of war with Russia. Zelenskyy said the measure clears out 'Russian influence' from the fight against corruption and ensures punishment for those found guilty of it, after what he said were yearslong delays in criminal proceedings involving huge amounts of money. 'This is what Ukraine really needs,' Zelenskyy said in a Telegram post after midnight Wednesday. 'The cases that have been lying dormant must be investigated.' 'For years, officials who have fled Ukraine have been casually living abroad for some reason – in very nice countries and without legal consequences – and this is not normal,' he said. He didn't provide examples of what he said was Russian interference. Russian officials relished Zelenskyy's difficulties. Russian Foreign Ministry spokesperson Maria Zakharova mocked Zelenskyy's claim of Russian infiltration into the anti-corruption agency, noting sarcastically that 'they might just as well pull a couple of bears out of the corner.' Zelenskyy has been the international face of Ukraine's determination to defeat Russia's all-out invasion, and his domestic troubles are an unwelcome diversion from the war effort. Delegations from Russia and Ukraine were set to meet in Istanbul on Wednesday for their third round of direct talks in two months, although the Kremlin didn't confirm the date or venue and its spokesman warned against expecting 'any magical breakthroughs' in the meeting. The changes would grant the prosecutor general new authority over investigations and cases handled by the National Anti-Corruption Bureau of Ukraine (NABU) and the Specialized Anti-Corruption Prosecutor's Office (SAPO). In a post on X, the EU's Enlargement Commissioner Marta Kos expressed concern over the vote in the Ukrainian Parliament, called the Rada, calling it 'a serious step back.' The Ukrainian branch of Transparency International criticized Parliament's decision, saying it undermines one of the most significant reforms since what Ukraine calls its Revolution of Dignity in 2014, and damages trust with international partners. It accused authorities of 'dismantling' the country's anti-corruption architecture. The mood of anger and frustration among the war-weary Ukrainians prevailed in the crowd Tuesday. Some protesters accused Ukraine's leadership of prioritizing loyalty and personal connections over the fight against corruption. 'Those who swore to protect the laws and the Constitution have instead chosen to shield their inner circle, even at the expense of Ukrainian democracy,' said veteran Oleh Symoroz, sitting in a wheelchair because both his legs were amputated after he was wounded in 2022.

US Spy Plane Sweeps Russia's Western Flank
US Spy Plane Sweeps Russia's Western Flank

Newsweek

time10 minutes ago

  • Newsweek

US Spy Plane Sweeps Russia's Western Flank

Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. A U.S. spy plane has swept across NATO's northern flank—near major military bases in northwest Russia—flight tracking data shows, marking the latest flight by NATO surveillance aircraft close to Russian soil. A U.S. Air Force (USAF) RC-135V Rivet Joint aircraft took off from a base in eastern England on Tuesday for a roughly 12 hour flight, first traveling north over Norway before nearing Russia's Murmansk region, data from publicly available flight tracking platform FlightRadar24 shows. The aircraft reached the area northeast of the Russian town of Severomorsk before turning back and returning to the U.K. via Finland, the Baltic states that are pressed up against Russia, Poland, Germany and then the Netherlands. It skirts around Russia's exclave of Kaliningrad, a wedge of Russian soil squeezed between Lithuania and Poland, tracking data indicates. Russia's northwestern Murmansk region borders NATO member Finland, and is home to the country's formidable Northern Fleet. The Northern Fleet plays a major role in Russia's nuclear arsenal. An RC-135W Rivet Joint and two F-35 Lightnings fly over The Mall during a flypast to mark the 80th anniversary of VE Day in London, England, on May 5, 2025. An RC-135W Rivet Joint and two F-35 Lightnings fly over The Mall during a flypast to mark the 80th anniversary of VE Day in London, England, on May 5, has a number of military bases and airfields around the city of Murmansk and nearby Severomorsk, the home of the main Northern Fleet headquarters and a major submarine base. The Olenya airbase, hosting long-range Russian bombers, is north of Severomorsk, and Russia has in recent years modernized its Severomorsk-1 naval airbase. Gadzhiyevo, another major submarine base, sits north of Murmansk and Severomorsk. The U.S. and the U.K. have both operated Rivet Joint aircraft in eastern Europe in recent weeks. A British Royal Air Force (RAF) RC-135 flew an almost identical flight path through Europe up to Murmansk last week. The Boeing RC-135 aircraft hoovers up what is known as signals intelligence, or SIGINT, which can come from a variety of sources, like written messages or data from weapons and radar systems. Iterations of the RC-135 have been in use with the U.S. military for decades. The USAF Rivet Joint, identified on FlightRadar24 by the call sign, "JAKE 17," took off from the U.K. base of Mildenhall at 7 a.m. local time (2 a.m. ET) on Tuesday, and landed back at the same base at just after 7 p.m. U.K. time (2 p.m. ET). The USAF's fleet of RC-135s have been "hard pressed of late with urgent demands for SIGINT collection at U.S.-Mexico border, East Asia, eastern Europe, and the Middle East," Olli Suorsa, an assistant professor in homeland security at the government-owned Abu Dhabi-based Rabdan Academy, previously told Newsweek.

UK ramps up scrutiny of Apple and Google in push for mobile services changes
UK ramps up scrutiny of Apple and Google in push for mobile services changes

CNBC

time10 minutes ago

  • CNBC

UK ramps up scrutiny of Apple and Google in push for mobile services changes

Britain's competition regulators on Wednesday took aim at the mobile ecosystems of Apple and Google, pushing the two companies to make changes to areas like their app stores. On Wednesday, the Competition and Markets Authority proposed designating the U.S. tech giants as having a "strategic market status" or SMS, after opening an investigation into the matter in January. This designation is given to a large company that has "substantial and entrenched market power" and a "position of strategic significance" with respect to a digital activity in the U.K. The CMA can force firms that are branded as having SMS to change or stop specific behaviors or practices in order to address competition concerns. Britain's regulator focused on investigating Apple and Google's mobile operating systems, app store and browser. One aspect of the investigation looked at whether there are barriers that may prevent other competitors from offering rival products and services on the U.S. tech giants' mobile platforms. Another part of the probe examined whether Apple and Google are using their position in operating systems, app distribution or browsers to favor its own apps and services. And the final aspect of the investigation studied whether Apple and Google require developers to sign up to "unfair terms and conditions" in order to distribute their apps via the respective app stores. Google's Android operating system commands just over 61% market share in the U.K., while Apple's iOS has just over a 38%, according to Kantar data. Google runs the Google Play store and Chrome browser, and Apple has its App Store and Safari browser. Apple and Google's regulatory problems on the continent of Europe continue to deepen. In April, European Union regulators hit Apple with a 500 million euro ($587 million) fine for breaching the Digital Markets Act (DMA) — a landmark law aimed at tackling tech competition issues. Apple has been forced to make a number of changes to the way it operates in the EU this year. These include allowing developers to tell their users about cheaper alternatives and bypass Apple's in-app payment system. However, some of the changes have yet to satisfy the EU regulators. Apple in June revealed a complex system of App Store fees in a bid to comply with the DMA and avoid the 500 million euro fine. Apple plans to appeal the fine. Apple has long argued that forced regulator-led changes to its operations could lead to privacy and security issues for users and confusing business terms for developers In March, Google parent Alphabet meanwhile was accused by the EU of failing to comply with the DMA. The European Commission, the EU's executive arm, said Google is treating its own search services more favorably than those of rivals. The Commission added that Google's app store is preventing developers from steering consumer to other channels for better offers. The search giant is also looking to fight a 4.1 billion euro fine that has stemmed from an antitrust case dating back to 2018.

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