International

Putin unveils monument to legendary Russia prince

AFP

President Vladimir Putin on Saturday unveiled a huge monument to legendary medieval prince Alexander Nevsky as he praised a “strong” Russia ahead of parliamentary polls.

Soviet and Russian authorities have for decades lauded the 13th century prince for halting the eastward expansion of the Swedes and Germans and his image has often been used for propaganda purposes.

Accompanied by Patriarch Kirill, the head of Russia’s Orthodox Church, and top officials, the Russian leader unveiled a 50-tonne monument to the prince and his warriors on the shores of Chudskoe Lake, on the northwestern border with EU member Estonia.

Putin praised the prince for his victory over the Teutonic Knights on the ice-bound lake in 1242, saying he was a symbol of patriotism and devotion to the Motherland.

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“This victory became decisive, halted the advance of enemies and showed everyone in the west and the east that the strength of Russia is not broken and the Russian land has people who are ready to fight for it,” Putin said.

The figure of the prince has supported and inspired Russians in times of war and peace, Putin added.

He described Alexander Nevsky’s legacy as a “strong, centralised Russian state created by his descendants.”

Also present at the ceremony was Metropolitan Tikhon, widely described as Putin’s spiritual advisor.

The epic “Battle on the Ice” is the focus of Sergei Eisenstein’s 1938 film, Alexander Nevsky, created under Soviet dictator Joseph Stalin.

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Russia holds parliamentary elections on September 17-19, with nearly all vocal Kremlin critics barred from running and the ruling United Russia floundering in the polls.

International

US panel backs Trump-themed coin amid controversy

The United States Department of the Treasury confirmed to AFP that the Commission of Fine Arts approved the design of a new collectible coin featuring Donald Trump, with members of the commission appointed by the current administration.

According to the proposal, the coin will feature an image of Trump standing with clenched fists over a desk on the obverse, while the reverse will display an eagle, a traditional symbol of the United States.

The sale price of the collectible has not yet been disclosed, although the United States Mint typically offers similar items for more than $1,000.

“There is no more iconic portrait for the front of these coins than that of our president Donald Trump,” U.S. Treasurer Brandon Beach said in a statement sent to AFP. He added that two additional coins — a $1 piece and a one-ounce gold coin — are also under consideration.

However, the Citizens Coinage Advisory Committee (CCAC), another body responsible for reviewing new coin proposals, declined to discuss the Trump design in late February.

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“Only nations governed by kings or dictators place the image of a sitting leader on their currency,” said Donald Scarinciat the time. “No country in the world has minted coins featuring a democratically elected leader during their term in office,” he added.

When contacted by AFP, the Treasury Department did not immediately respond to requests for further comment.

International

Fed’s Waller warns of rising inflation risks amid Middle East conflict

Christopher Waller, a governor at the Federal Reserve, said Friday that he is increasingly concerned about the inflationary impact of the ongoing conflict involving United States and Israel against Iran, particularly due to the prolonged closure of the Strait of Hormuz.

Waller, who had supported interest rate cuts over the past year amid concerns about the labor market, said he has shifted his stance in recent weeks due to rising inflation risks.

“Since the Strait of Hormuz was closed, it suggests this conflict could be much more prolonged and that oil prices will remain elevated for longer,” Waller said in an interview with CNBC.

“Therefore, this indicates that inflation is a greater concern than I had previously assessed,” he added.

Waller also backed the Federal Reserve’s decision earlier this week to keep interest rates unchanged, signaling a more cautious approach as global geopolitical tensions continue to affect economic outlooks.

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International

Brazil offers to mediate Colombia-Ecuador tensions, calls for restraint

The government of Brazil has offered to mediate in the ongoing tensions between Colombia and Ecuador, while calling on both nations to exercise restraint.

In a statement released Wednesday, Brazil’s Ministry of Foreign Affairs urged the parties involved to act with moderation and seek a peaceful resolution to the dispute.

“Brazil encourages all sides to act with moderation in order to find a peaceful solution to the controversy. It stands ready to support dialogue efforts aimed at preserving peace and security in the region,” the statement said.

Brazil also expressed “serious concern” over reports of deaths in the border area between Colombia and Ecuador, noting that the circumstances surrounding the incidents have not yet been clarified.

The diplomatic move comes amid rising tensions between the neighboring countries, increasing regional concern over stability and security along their shared border.