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No pope elected on first ballot as black smoke spotted at the Sistine Chapel chimney

No pope elected on first ballot as black smoke spotted at the Sistine Chapel chimney

CTV News07-05-2025

No pope elected on first ballot as black smoke spotted at the Sistine Chapel chimney
CTV News' Adrian Ghobrial speaks with Vatican analyst Gerard O'Connell after the first round of voting resulted in no new pope being elected.

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Moncton launches review of municipal plan, seeks public feedback
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  • CTV News

Moncton launches review of municipal plan, seeks public feedback

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EU seeks to lower a price cap on Russian oil and discourage Nord Stream pipeline investors
EU seeks to lower a price cap on Russian oil and discourage Nord Stream pipeline investors

CTV News

time16 hours ago

  • CTV News

EU seeks to lower a price cap on Russian oil and discourage Nord Stream pipeline investors

European Commission President Ursula von der Leyen, right, and European Union foreign policy chief Kaja Kallas address the media at EU headquarters in Brussels, Tuesday, June 10, 2025. (AP Photo/Geert Vanden Wijngaert) BRUSSELS — The European Union wants to lower a cap on the price of Russian oil to deprive the Kremlin of extra profits to fund its war in Ukraine as part of a new raft of sanctions aimed at forcing Moscow to the negotiating table, senior officials said on Tuesday. EU foreign policy chief Kaja Kallas said the bloc is 'proposing to lower the oil price cap from $60 to $45, which is lower than the market price, and lowering the oil price cap will hit Russia's revenues hard.' Kallas said the EU also wants to impose 'sanctions on the Nord Stream pipelines to prevent Russia generating any revenue in the future. In this way, it sends a clear signal we are not going back to business as usual.' All 27 EU member countries must all agree for the sanctions to enter force. In 2023, Ukraine's Western allies limited sales of Russian oil to $60 per barrel but the price cap was largely symbolic as most of Moscow's crude — its main moneymaker — cost less than that. Still, the cap was there in case oil prices rose. Oil income is the linchpin of Russia's economy, allowing President Vladimir Putin to pour money into the armed forces while avoiding worsening inflation for everyday people and a currency collapse. European Commission President Ursula von der Leyen said she assumed that the price cap would be discussed and agreed among the leaders of the Group of Seven major world economic powers when they meet in Canada on June 15-17. She said the United States and its G7 partners realize 'that the oil price has lowered so much that the effectiveness of the cap is to be questioned, and therefore we all want to lower the oil price from $60 per barrel down to $45 per barrel.' The Nord Stream gas pipelines were built to carry Russian natural gas to Germany but are not in operation. They were sabotaged in 2022, but the source of the underwater explosions has remained a major international mystery. The Commission has said that it wants to impose sanctions on the operating consortium to discourage investors from trying to use the pipelines in future. The blasts happened as Europe attempted to wean itself off Russian energy sources following the Kremlin's full-scale invasion of Ukraine, and contributed to tensions that followed the start of the war. Von der Leyen noted on Tuesday that at the beginning of the war in 2022, 'Russia had 12 billion euros ($14 billion) of energy revenues from fossil fuels' from Europe per month. 'And now we're down to 1.8 billion (euros).' The new EU sanctions would also target Russia's banking sector, with the aim of limiting the Kremlin's ability to raise funds or carry out financial transactions. A further 22 Russian banks will be hit with measures, von der Leyen said. An export ban worth some 2.5 billion euros would also be imposed, and the assets frozen of more than 20 Russian and foreign companies alleged to be providing support to the Kremlin's war machine. Von der Leyen said the sanctions are aimed at forcing Russia into serious talks about peace with Ukraine. 'We need a real ceasefire, and Russia has to come to the negotiating table with a serious proposal,' she told reporters. The EU has imposed several rounds of sanctions on Russia since Putin ordered his troops into Ukraine in February 2022. Around 2,400 officials and 'entities' – often government agencies, banks and organizations – have been hit. It's last raft of sanctions, imposed on May 20, targeted almost 200 ships in Russia's sanction-busting shadow fleet of tankers, and tightened trade restrictions to stop produce that could be used for military purposes from reaching Russia's armed forces. Lorne Cook, The Associated Press

Czech president appoints a new justice minister amid a bitcoin scandal
Czech president appoints a new justice minister amid a bitcoin scandal

CTV News

timea day ago

  • CTV News

Czech president appoints a new justice minister amid a bitcoin scandal

Czech Republic's President Petr Pavel, right, appoints Eva Decroix, left, as new Justice Minister at the Prague Castle in Prague, Czech Republic, Tuesday, June 10, 2025. (AP Photo/Petr David Josek) PRAGUE — Czech President Petr Pavel swore in a new justice minister on Tuesday, another step in a political crisis caused by a bitcoin-related scandal. Pavel appointed Eva Decroix after her predecessor Pavel Blažek resigned from the post on May 30. He was under fire from the opposition because his ministry accepted a donation of bitcoins and sold them for almost 1 billion Czech koruna (US$46 million) earlier this year. Blažek said that he wasn't aware of any wrongdoing, but didn't want the four-party coalition government led by Prime Minister Petr Fiala to be harmed by the scandal. Fiala said that he appreciated his resignation and believed that Blažek acted with goodwill. Blažek was a close ally of Fiala in the government and also in his conservative Civic Democratic Party. The new minister is from the same party. Decroix said she will order an independent probe into the ministry's activities in the case. 'The public trust in the institutions and the state is at stake,' Pavel said. The issue focused on the fact that the bitcoins were donated to the ministry by a person who was previously convicted of drug dealing and other crimes while it was not clear why he did it. The opposition has accused Blažek of possible money laundering, because it wasn't clear where the bitcoins originated. The opposition parties demand the resignation of the entire government and are planning to request a parliamentary no-confidence vote. It could take place later in June. The issue has been investigated by the national police's organized crime unit. The scandal is taking place just months before the Oct 3-4 parliamentary election. The main opposition ANO (YES) party led by former populist Prime Minister Andrej Babiš is predicted to win the vote. The Associated Press

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