04 March 2022
by Kiran Dave
3 March 2022
Russian State Duma introduced several bills to provide social protection to its citizens from sanctions by foreign countries. Some of the key provisions of the bill are related to employment, access to medicines and health products, and pension provision. Another bill provides for credit holidays to citizens until 30 September 2022. The bill established a period during which restrictions on the full cost of a consumer loan is not subject to application.
The Duma also introduced bill to support pensioners amidst international sanctions. The bill allows the government to make decisions on additional payments and increase in pensions. The parliament also introduced a bill that contains provisions for small and medium businesses and information technology (IT) companies, as well as simplified processes for public procurement of products.
It introduced another bill to extend the deadline for paying taxes. The bill provides provision to extend the deadline for paying taxes, insurance premiums, and other such financial fees.
A committee in the State Duma also approved a draft law that criminalises the distribution of false news about military operations to prevent discrediting and criticising the Russian armed forces.
2 March 2022
President Vladimir Putin signed a decree facilitating measures to support financial stability amidst international sanctions. The additional measures are aimed at defending the national interests of the country. Prime Minister Mikhail Mishustin pledged funds to develop the information technology sector. He added that the government will adjust tax arrangements for companies and citizens amidst international sanctions.
The Russian parliament also proposed directing revenue from non-oil and gas industries to support companies amidst international sanctions. It plans to give additional powers to ministers on the export of medical products and medicines. The aim of this measure is to enable faster decision-making regarding export of these products to countries that have imposed sanctions on Russia.
The Russian Ministry of Finance supported the measure to abolish value added tax on precious metals for citizens amidst international sanctions. Minister of Finance Anton Siluanov stated that buying gold will be an ideal alternative to buying dollars.
1 March 2022
The Central Bank of Russia increased its key policy interest rate to 20%. The bank also introduced capital controls. The interest rates were increased to compensate citizens for increased inflationary risks amidst international sanctions.
The Russian government also banned foreign investors from selling Russian assets. Prime Minister Mishustin stated that this measure was taken to ensure that investors don't make a hasty decision driven by political pressure amidst international sanctions.
26 February 2022
The Russian government banned flights from Bulgaria, Poland, and the Czech Republic as a response to these countries closing their airspace to Russian flights.
25 February 2022
The Russian government will use capital from the National Wealth Fund (NWF) to make up for the shortfalls in state borrowing amidst international sanctions. The government will use the funds to buy state Obligatsyi Federal'novo Zaima (OFZ) ruble bonds from the market. OFZ bonds are domestic ruble bonds of the Russian Federation.
24 February 2022
The Central Bank of Russia increased the liquidity of assets and started selling foreign currency in the FOREX market. The Ministry of Finance also ordered companies like Gazprom and Rosneft to sell 80% of their FOREX revenues.
29 March 2024
by Michael Fabey
The USN CNO noted the need for the development of directed energy weapons, such as the laser system shown in this artist's rendition. (Lockheed Martin)
Recent US Navy (USN) operations in the Red Sea have underscored the importance of logistics, according to Admiral Lisa Franchetti, the USN chief of naval operations (CNO).
Adm Franchetti also noted the importance of developing new weapons and related capabilities to match emerging threats.
The CNO made the comments during a discussion for Defense One that was shown online on 27 March.
22 March 2024
by Michael Fabey & Ridzwan Rahmat
BAE Systems was confirmed as the UK shipbuilding partner for AUKUS submarines, shown here as an artist rendition. (BAE Systems)
Britian's BAE Systems will partner with Australian shipbuilder ASC to build Canberra's nuclear-powered submarines for the trilateral AUKUS defence agreement, the UK Ministry of Defence (MoD) confirmed on 21 March.
The partnership deal follows “months of negotiations” and could be worth “billions of pounds”, theMoD said in a release.
19 March 2024
by Nicholas Fiorenza & Andrew MacDonald
The Swedish flag was raised at NATO headquarters in Brussels on 11 March to mark the country's accession to the alliance as its 32nd member on 7 March. (NATO)
NATO welcomed Sweden as its 32nd member on 7 March. The Scandinavian country had intended to join together with Finland, but Turkey and Hungary blocked Swedish accession until the Grand National Assembly of Turkey approved it on 23 January, followed by the Hungarian parliament on 26 February.
3 March 2022
In this podcast Harry and Sean are joined by Dr Ingvild Bode to look at the application and challenges of AI use in weapons systems. Dr Ingvild Bode has spent the last year researching this subject for her most recent policy report, Loiteri...
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