Biden to push for use of Russian assets in Ukraine at G7 meeting
Western allies have been arguing for two years over what to do with $300 billion in frozen Russian assets. It seems that a compromise is about to be announced.
European leaders worried that seizing the assets would violate international law. So the Biden administration developed a plan to use the interest generated by the assets to back a loan that could be immediately disbursed to Ukraine.
Western officials have said the loan could be as much as $50 billion and would be repaid in installments using profits generated by the Russian funds.
The leaders are also expected to discuss how to stop China from supporting Russia by selling it “dual-use” microelectronics and other equipment used to rebuild the Russian military. The Biden administration announced yesterday that it would increase sanctions Aims to stop China from helping the Kremlin Invasion of Ukraine.
EU imposes more tariffs on Chinese electric vehicles
The European Union said yesterday that it would Imposing additional tariffs The United States has imposed tariffs of up to 38% on electric vehicles imported from China. Leaders said the measure was to protect manufacturers from unfair competition. The move came a month after the United States tripled tariffs on Chinese electric vehicles to 100%.
“By making low-cost Chinese imports more expensive for consumers, tariffs could slow the uptake of electric vehicles in Europe, while also slowing progress on emissions reductions,” said my colleague Jim Tankersley, a writer on U.S. economic policy.
“But they could also help prevent job losses at European carmakers,” he added. “Such protections could help maintain political support for green initiatives at a time when Europe’s decarbonization efforts are increasingly facing opposition from voters unhappy with rapid price increases in recent years.”
This is for consumers and What happens next?
How immigration affects Western politics
The recent European Parliament elections were the latest sign of the impact immigration is having on the West. By David LeonhardtRight-wing parties that pledged to reduce the flow of migrants made gains, while centre-right parties took the lead by taking a stricter stance.
Modern immigration to the West has brought huge benefits, but it also has drawbacks. Increased competition can hurt workers, governments have difficulty providing social services, and some people may feel uncomfortable with social change. Historically, large-scale immigration has sparked political backlash, such as Brexit.
For years, mainstream Western politicians have dismissed voters’ concerns about immigration as inherently ignorant or xenophobic, with many disaffected voters turning to far-right parties. But recently there have been signs that left-wing and centrist political forces have returned to a more nuanced stance, praising immigration while emphasizing border security.
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None of the changes appeared to be serious, and the astronauts largely returned to normal after returning to Earth. But the results highlight how little researchers understand about the phenomenon.
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Saudi Arabia targets boxing
Saudi Arabia has already begun a hostile takeover of professional golf and invested billions of dollars in soccer. Now, It wants to own professional boxingalso.
A Saudi plan to reshape the economy, structure and future of boxing is in the final stages of approval, according to two people familiar with the matter. The initial investment is said to be as high as $2 billion. The project, which was developed with the help of consulting firms, will effectively create a single global boxing entity with about 200 top male boxers.
The sport, governed by a labyrinth of promoters and sanctioning bodies, is in desperate need of reform and has been losing fans, and the Ultimate Fighting Championship model is similar to the proposed arrangement.
