International

Russia faces ‘decay’, Ukraine has ‘European future’: EU chief

AFP

Russia faces “decay” because of ever more stringent sanctions from the West while Ukraine has a “European future”, European Commission chief Ursula von der Leyen said during a visit to Kyiv.

“Russia will descend in economic, financial and technological decay while Ukraine is marching towards a European future,” von der Leyen said at a press conference with Ukrainian President Volodymyr Zelensky.

“Your fight is also our fight. Im here in Kyiv with you today to send a very strong message that EU is by your side. We stand by your side,” she said.

Von der Leyen condemned civilian killings in the town of Bucha near Kyiv which Ukraine has blamed on Russian forces which were occupying the area at the time.

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“Our humanity was shattered in Bucha,” she said, also condemning the deaths of dozens of people in a rocket attack on a train station in Kramatorsk in eastern Ukraine earlier on Friday as “appalling”.

“We are mobilising our economic power to make (Russian President Vladimir) Putin pay a very, very heavy price,” she said.

Zelensky said that while he was “personally thankful” to von der Leyen for the five rounds of EU sanctions, “this is not enough”.

“They took many things from us, territory, people. We can retake the land but we will never be able to return the people,” he said.

“For all this, Russia needs to take responsibility. That is why I am asking to help us with your sanctions. They should only increase,” he said.

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Addressing Ukraine’s ambitions to join the European Union, von der Leyen said: “We are with you as you dream of Europe”.

She handed Zelensky a questionnaire as a “basis” for discussion in the coming weeks.

“It is where your path towards Europe and European Union begins,” she said.

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.