Press play to listen to this article Voiced by artificial intelligence. LONDON — Britain will be welcomed into an Indo-Pacific trade bloc late Thursday as ministers from the soon-to-be 12-nation trade pact meet in a virtual ceremony across multiple time zones. Chief negotiators and senior officials from member countries agreed Wednesday that Britain has met … Read more
The outlook for the global economy is likely to remain weak in the medium term amid heightened risks to financial stability, according to International Monetary Fund Managing Director Kristalina Georgieva. “We expect 2023 to be another challenging year, with global growth slowing to below 3 percent as scarring from the pandemic, the war in Ukraine, … Read more
Chinese President Xi Jinping’s marathon three-day visit to Moscow was hailed by the Kremlin as the dawn of a new age of “deeper” ties between the two countries, as Russia races to plug gaping holes left in its finances by Western energy sanctions. But while Vladimir Putin insisted a new deal struck during the negotiations … Read more
Press play to listen to this article Voiced by artificial intelligence. European Commission President Ursula von der Leyen has declared Europe’s dependence on Russian oil and gas “history.” But others, from senior Ukrainian officials to MEPs and industry insiders, say that chapter of history is still being written. Significant quantities of Russian hydrocarbons, particularly oil, … Read more
Press play to listen to this article Voiced by artificial intelligence. KYIV — Ukrainian President Volodymyr Zelenskyy is happy to unleash withering criticism against countries including Hungary and Germany for getting too close to the Russians. But he’s playing a diplomatic long game with Moscow’s No. 1 ally: Chinese President Xi Jinping. There are good reasons … Read more
Press play to listen to this article Voiced by artificial intelligence. The EU has reached a deal to send Ukraine 1 million rounds of ammunition within the next 12 months. The plan — seen by POLITICO — will see the EU both donate ammunition from its own stockpiles and also jointly purchase new shells for … Read more
Press play to listen to this article Voiced by artificial intelligence. BRUSSELS — The EU is finalizing a €2 billion deal to jointly restock Ukraine’s dwindling ammunition supplies while refilling countries’ stocks, according to documents obtained by POLITICO. The plan has two major elements. First, the EU will spend €1 billion to partially reimburse countries that can … Read more
As U.S. banking regulators begin their post-mortem of Silicon Valley Bank, some pundits are pointing the finger at crypto markets, whose own collapse over the past year left the tech-focused lender hopelessly exposed. The conventional wisdom about crypto is that it’s “self-referential” — a separate universe to conventional finance — and that its inherent volatility … Read more
Press play to listen to this article Voiced by artificial intelligence. There aren’t many places on Earth as far removed from the political scheming of the European Union’s rain-soaked headquarters in Brussels as Chile’s Salar de Atacama. Its rugged, otherworldly landscape to the west of the Andes mountains spans 1,200 square miles of salt flats, … Read more
As Russia’s war in Ukraine puts a heavy strain on EU arms, there’s infighting in Brussels over how best to reload. The latest skirmish is focused around a procurement fund intended to ramp up production of arms in Europe. POLITICO has learned that key committees in the European Parliament — namely, the committees for industry, … Read more