Latest news with #Moscow
Malay Mail
3 hours ago
- Business
- Malay Mail
DPM Fadillah: Malaysia, Russia to deepen economic ties in halal industry, agriculture
MOSCOW, June 28 — Malaysia and Russia will deepen economic cooperation, particularly in high-potential sectors such as the halal industry, agriculture and food security, Deputy Prime Minister Datuk Seri Fadillah Yusof said. Fadillah said bilateral trade between the two countries remained modest in 2024, despite Russia's large economy. Russia ranked as Malaysia's ninth-largest trading partner among European nations this year, with total trade reaching RM11.46 billion (US$2.48 billion). Malaysia's key exports to Russia include electrical and electronic products, machinery, equipment and parts, as well as processed food. 'I invited Russian companies to invest in Malaysia and take advantage of the government's incentives in strategic sectors such as aerospace, agrotechnology, energy, ICT (information and communications technology), the digital economy, Islamic finance and the halal industry,' the Deputy Prime Minister said. He was speaking at a press conference at the end of his four-day working visit to Russia late last night. Fadillah, who is also the Energy Transition and Water Transformation Minister, called for cooperation in agriculture and food security, and proposed joint research and development in fertiliser and pesticide technologies, agro-engineering and food technology. 'I discussed collaboration in higher education and conveyed appreciation to the Russian government for its scholarships to Malaysian students. 'I also proposed that these scholarships be extended to emerging sectors such as artificial intelligence, big data and information science, in line with current industrial transformation,' he said. On tourism, Fadillah said Malaysia welcomed a proposal for direct flights between the two countries, which is expected to be finalised soon. However, he noted that Russia had raised concerns over financial transactions, which had to some extent hampered the growth of bilateral trade. He gave an assurance that the Malaysian government, through the relevant agencies, including Bank Negara Malaysia, would continue to facilitate smooth financial transactions between both sides. 'I will present the outcomes of my discussions with Russian counterparts to the Cabinet upon my return to Malaysia. 'In shaa Allah, I am confident that Malaysia–Russia cooperation will continue to develop positively and bring tangible benefits to our country,' he added. — Bernama
Reuters
8 hours ago
- Business
- Reuters
Berlin to simplify rules in bid to speed up defence surge, draft law says
BERLIN, June 27 (Reuters) - The German government seeks to speed up defence procurement by simplifying legal procedures, fostering European cooperation and facilitating orders to start-ups to make its military combat-ready, according to a draft law seen by Reuters late on Friday. The speedy surge of the German military's capabilities "must not fail due to overly complex procurement procedures or lengthy authorisation processes", the document said, while warning of signs that Moscow's war objectives reach beyond Ukraine. "The time factor is crucial." At a NATO summit in The Hague, leaders on Wednesday agreed to hike the alliance's defence spending target to 5% of national GDP, with 3.5% dedicated to core defence and 1.5% to related security issues. German Chancellor Friedrich Merz's government on Tuesday approved a budget framework which is expected to see Berlin's total military spending rise from 95 billion euros in 2025 to 162 billion euros in 2029, equalling 3.5% of GDP. The new defence procurement law is part of efforts to speed up military purchases that in the past have been plagued by lengthy delays, project failures and cost overshoots. The draft law determines that all procurement that contributes to Europe and NATO's military readiness inherently touches upon vital national security, which constitutes a basis to invoke an exemption under European public procurement law. That would amplify a trend that Berlin has been following for some time by more often making use of a national security clause under EU law to prioritize domestic procurement, while also seeking to minimize delays caused by legal challenges. The hurdles for cash-strapped start-ups and innovative companies to join competitions are to be lowered by enabling advance payment to these firms, according to the draft, dated June 25. The paper also makes provisions for a future simplification of European defence procurement rules, something now under discussion at the EU level, by stating that the German law should not be tougher than European law but facilitate joint European defence procurement across the board. The law will entitle contracting entities to limit tenders to bidders inside the European Union or the European Economic Area, and to determine that a certain share of the contracted goods or services must originate in the EU, according to the document. The draft law does not, however, attempt to change the rule that all defence purchases with a volume of 25 million euros or more must be approved by parliament, a requirement seen by many experts as a major hurdle against speeding up procurement. At the start of June, Defence Minister Boris Pistorius said Germany would need up to 60,000 additional troops under the new NATO targets for weapons and personnel, effectively expanding the military to some 260,000 troops. The Bundeswehr has not yet met a target of 203,000 troops set in 2018, and it is currently short-staffed by some 20,000 regular troops, according to defence ministry data.
Russia Today
9 hours ago
- Business
- Russia Today
Ukraine conflict settlement, future of US-Russia relations, NATO's ‘lies': Highlights from Putin's Q&A
Moscow will no longer play a 'one-sided game' with the West, Russian President Vladimir Putin told journalists on the sidelines of the Eurasian Economic Union summit in Minsk on Friday. During his press conference, Putin fielded questions on a wide range of issues, including the state of the economy, sanctions, and negotiations with Ukraine. Settlement of the Ukraine conflict Putin acknowledged that the roadmaps presented by the Russian and Ukrainian delegations at the second round of talks in Istanbul earlier this month were polar opposites. He said, however, that the talks were specifically held 'to look for ways to bring [our positions] closer.' He welcomed the ongoing prisoner swaps and the return of the remains of fallen soldiers agreed at the talks. According to Putin, Russia is ready to hand over the remains of some 3,000 Ukrainian troops, in addition to the 6,000 it has already returned. The president said Moscow is ready to continue negotiations. 'We are ready to hold such a meeting in Istanbul,' Putin stated, adding that the Russian and Ukrainian delegation leaders are 'in constant contact.' He said he believes the next meeting should focus on discussing each side's memorandums. No more 'one-sided' games with NATO When Western nations speak about Russia's 'aggressiveness,' they are 'turning everything upside down,' Putin said, referring to NATO members' pledge to raise defense spending to 5% of GDP by 2035. According to Putin, NATO had 'blatantly lied' in the early 1990s when it promised not to expand eastward. He accused the alliance of constantly ignoring Russia's security concerns, particularly its warnings that NATO's expansion toward Russian borders would be viewed as a threat. 'That is what aggressive behavior looks like,' he said, adding that Moscow is done playing 'one-sided' games with the West. The president reiterated that Russia has no plans to attack NATO and intends to reduce defense spending over the next three years. NATO denies ever making commitments not to expand and insists it poses no threat to Russia. Western Europe 'about to drop dead' Russia is currently spending 6.3% of its GDP on defense, which is 'a lot,' Putin said. He acknowledged that the nation 'has paid for it with inflation,' but added that the government maintains a 'level-headed approach' to the issue. The difference, he argued, is that Russia is supporting its own defense industry, while NATO members in Europe are buying weapons from the US. Still, the Russian economy has grown by more than 4% for two years in a row, while growth in the euro area has been just 0.9%, he noted. Putin claimed that France and Germany are 'on the brink of recession.' 'They're about to drop dead, yet they're still trying to write our obituary,' he said. Ban on Russian oil trade will be unenforceable Putin reiterated that sweeping restrictions have failed to hinder Russia's growth. He expressed confidence that tougher sanctions on Russian oil exports – currently being discussed in the EU and US – will not change the situation. 'The world is consuming ever-increasing volumes of oil and petrochemicals as the global economy grows,' he said, adding that a ban on Russian oil will be 'de facto impossible' to enforce. Trump is a 'courageous man' Putin said he has 'deep respect' for US President Donald Trump, describing him as a 'courageous man' who has endured 'hardships, difficulties, and dangers.' He added that Moscow welcomes the Trump administration's efforts to help resolve the Ukraine conflict. The president did not rule out a future meeting with Trump, saying Russia would welcome the return of American companies to its market.
CNA
14 hours ago
- Business
- CNA
Putin says Russia, Ukraine peace proposals contradictory
MOSCOW: Russian President Vladimir Putin said on Friday (Jun 27) that Russia and Ukraine's demands for peace were "absolutely contradictory", after two rounds of peace talks failed to bring the sides closer to an elusive ceasefire. Russian and Ukrainian negotiators swapped memorandums outlining their visions for how to end the three-year conflict at peace talks in Istanbul this month. But other than large-scale prisoner exchanges, the talks have failed to result in any progress toward ending the fighting, triggered by Russia launching its military offensive in February 2022. "As for the memorandums, as expected, nothing surprising happened, these are two absolutely contradictory memorandums," Putin said at a press conference in Minsk, Belarus. "That is why negotiations are being organised and conducted, in order to find a path to bringing them closer together," he said. Tens of thousands of people have been killed in Russia's offensive, which has forced millions from their homes and devastated much of eastern Ukraine. At the talks, Russia has demanded Ukraine cede even more land and give up Western military support as a precondition to peace, terms Kyiv says are unacceptable. Putin has repeatedly rejected calls for an immediate ceasefire and has escalated his aerial attacks as his army advances across the battlefield, capturing more territory beyond the five Ukrainian regions Russia claims to have annexed. He said the two sides would "continue further contact" after prisoner exchanges agreed at the Jun 2 talks had been completed. The two sides have conducted several swaps since agreeing to each free more than 1,000 captured soldiers, all wounded, ill or under 25. Russia is also ready to hand over the bodies of 3,000 killed Ukrainian soldiers, Putin said. He also acknowledged some economic pressure from the military campaign, which has seen Russia massively increase its spending on weapons and soldiers. "6.3 per cent of Russia's GDP goes on defence needs. That is 13.5 trillion rubles (US$172 billion)," Putin said. "It is a lot," Putin said, acknowledging it had the potential to create headaches for the government budget. "We paid for it with inflation, but now we are fighting this inflation," he added. At the press conference following a meeting with allies in Belarus, Putin also denounced the "aggressive" pledge by NATO members to increase their defence spending to five per cent of GDP.
Times of Oman
14 hours ago
- Business
- Times of Oman
Russian foreign minister Sergey Lavrov says NATO buildup won't have 'any significant effect' on Russia
Moscow: NATO's recent decision to ramp up military spending will not significantly impact Russia's security, Foreign Minister Sergey Lavrov said on Thursday, according to a report by Russia Today. Speaking at a press conference, Lavrov dismissed the West's claim of a Russian threat as unfounded and reiterated Moscow's openness to peace talks if the core issues behind the Ukraine conflict are addressed. His remarks came after the NATO summit in The Hague, where member states pledged to increase defense expenditure to 5% of GDP by 2035, citing the "long-term threat posed by Russia to Euro-Atlantic security." US President Donald Trump described the agreement as a "monumental win," having long urged European allies to contribute more to their defense. Responding to a question on whether Russia views the NATO buildup as a threat, Lavrov stated, "I don't think it will have any significant effect." He added, "We know what goals we are pursuing; we don't hide them, we state them openly, and they are absolutely legitimate in terms of any interpretation of the UN Charter and international law. We know by what means we will always ensure these goals." RT reported that Moscow has consistently denied any plans to attack NATO countries, calling such accusations "nonsense" used by Western officials to justify increased military budgets. Lavrov also said Russia remains willing to engage in dialogue if NATO addresses root concerns, including its expansion toward Russia's borders and continued military support for Ukraine's NATO ambitions. According to RT, the European Commission earlier this month approved the allocation of approximately Euro 335 billion in pandemic recovery funds for military purposes. In May, it introduced a Euro 150 billion debt facility to support defense initiatives. Ukraine is also allowed access to these resources alongside EU member states. Moscow has condemned these developments as evidence of NATO's sustained hostility. RT noted that President Vladimir Putin has accused the alliance of fabricating threats to manipulate public sentiment and escalate an arms race. At the summit, when asked what NATO's warnings of a Russian threat were based on, Secretary General Mark Rutte reportedly failed to cite any specific intelligence assessments, instead pointing to broad concerns.
