An extraordinary meeting of the North Atlantic Council at the level of defense ministers will be held on March 16.
According to NATO headquarters on Tuesday, the meeting will be chaired by NATO Secretary General Jens Stoltenberg.
The agenda has not been announced, however, based on the war waged by Russia against Ukraine, the heads of the defense departments of the member countries of the alliance will discuss the security situation in the light of recent events. The discussion will take place via teleconference.
This will be the fifth extraordinary meeting of the North Atlantic Council this year, convened due to Russian aggression against Ukraine: on March 4, a meeting of the Council at the level of foreign ministers was held, in which Ukrainian Foreign Minister Dmytro Kuleba took part via video link. Prior to that, on February 25, on the second day of the military aggression of the Russian Federation against Ukraine, the leaders of states and governments gathered for an extraordinary meeting. A few days earlier, on February 22, an extraordinary meeting of the Ukraine-NATO Commission was held at the headquarters, on February 16-17, a meeting of the North Atlantic Council at the level of defense ministers with the virtual participation of the head of the Ukrainian defense department Oleksiy Reznikov, and on January 7 – an extraordinary meeting of foreign ministers.
Estonia simplifies the procedure for obtaining a residence permit for refugees from Ukraine, from March 9, they can apply for a residence permit in one day. The corresponding order was adopted on Tuesday by the government of the republic.
“Today’s government decision will help reduce the bureaucracy for traumatized military refugees from Ukraine. This will allow them to more easily and quickly adapt to life in Estonia,” Prime Minister Kaja Kallas said.
According to the order, a refugee from Ukraine can apply for temporary protection in the form of a residence permit for a year, and then extend this period, the government explained.
Persons under temporary protection, as well as those close to them, are provided with services such as accommodation and meals, health insurance, they are granted the right to work in Estonia, and children are provided with access to pre-school and basic education.
Refugees are entitled to a living allowance, other cash benefits, such as family benefits. All those in need of assistance are entitled to emergency social assistance, they can participate in language learning and adaptation programs free of charge.
Since February 27, more than 7,000 Ukrainians have arrived in Estonia, including 2,610 children. Until now, most of the refugees came to Estonia to stay with their relatives or friends. Earlier it was reported that Estonia is ready to accept up to 10,000 refugees.
The National Bank of Ukraine (NBU) continued to gradually loosen and clarify the restrictions on the foreign exchange market, introduced on February 24, in order to ensure the reliable and stable functioning of the country’s financial system in connection with the introduction of martial law, the regulator said on its website on Tuesday.
According to it, from March 8, 2022, the National Bank allowed clients in territories under the threat of occupation by Russia to withdraw cash in national and foreign currency from accounts without limits on the amount, as well as to purchase cash currency and bank metals with physical delivery if they are available in bank branch.
The NBU clarified that the decision to carry out such transactions is made by the head of the bank and can be delegated to the head of the branch of the bank.
The National Bank noted that the issuance of bank metals from the accounts of bank customers is carried out without restrictions within their balance on the account and if they are available at the cash desk of a branch.
The regulator also again expanded the exceptions to the ban on transactions from the accounts of residents of Russia or Belarus and legal entities which ultimate beneficiaries are residents of the Russian Federation or the Republic of Belarus. If earlier it was possible to pay from them in support of the Ukrainian army to the account of the National Bank and to the accounts of the Cabinet of Ministers and ministries, now social payments, salary payments, utilities, taxes, fees and other obligatory payments.
In addition, the NBU has expanded the opportunity for residents and non-residents to make transfers to the accounts of charitable foundations not only in hryvnia, but also in foreign currency. This applies to charitable foundations created to promote the country’s defense capability and mobilization readiness, support for the Armed Forces of Ukraine and territorial defense, social protection, healthcare and other topical issues of protecting the population under martial law.
The National Bank also provided an opportunity for banks to open accounts for military personnel and carry out their identification and verification using a military ID.
In addition, it was clarified that settlements under documentary and standby letters of credit/guarantees/counter-guarantees opened (confirmed, granted) since February 24, 2022 are prohibited. An exception is made only for cases when such settlements are made to pay for critical import goods, settlements with IFOs and other special operations of bank customers permitted by the NBU.
The National Bank emphasized that this ban does not apply to settlements under documentary and standby letters of credit/guarantees/counter-guarantees opened (confirmed, provided) until February 23, 2022 inclusive.
The National Bank also determined that in case of receipt of funds from abroad in Russian or Belarusian rubles for export/import of goods, banks are allowed to exchange these funds on the international currency market for another currency for its subsequent crediting to the client’s accounts.
The relevant changes were made by Resolution of the National Bank Board of March 8, No. 44 on amendments to Resolution of the NBU Board of February 24, 2022, No. 18, which comes into force on March 8, 2022.
The Volkswagen auto concern has forced to suspend the production of cars at several factories in Germany due to the cessation of supplies of components from Ukraine after the start of Russian military aggression.
According to the Wall Street Journal, the automaker has created a working group whose task is to assess the risks and find ways to ensure the uninterrupted production of cars.
The largest Volkswagen plant in Wolfsburg is operating normally this week, however, according to the concern’s forecasts, car production will have to be reduced next week, and production will be completely stopped in another week.
Supply disruptions will also affect the work of the Hannover truck plant and enterprises that produce auto parts.
Earlier, Volkswagen had to suspend the work of enterprises in Dresden, as well as in Zwickau, where electric vehicles are produced, in particular, the ID.4 model exported to the United States.
The UK will gradually stop importing Russian oil by the end of 2022 in response to Vladimir Putin’s illegal invasion of Ukraine, the British government said in a statement on Tuesday.
“The UK is working closely with the US, the EU and other partners to end our dependence on Russian hydrocarbons in response to Russian aggression in Ukraine, recognising the different circumstances and transition timelines. This significant move will increase the growing pressure on Russia’s economy by choking off a valuable source of income,” the document says.
According to it, the refusal of imports will not be immediate: the UK, which covers 8% of its oil demand from Russia, will have more than enough time to adjust supply chains, support industry and consumers. The government will work with companies through a specially created Taskforce on Oil to help them use this period to find alternative sources.
London notes that oil accounts for 44% of Russian exports, which provides 17% of federal budget revenues.
According to the British government, in a competitive global market for oil and petroleum products, demand can be met by alternative suppliers. The UK has various reliable suppliers outside of Russia, including the Netherlands, Saudi Arabia and the United States.
“In another economic blow to the Putin regime following their illegal invasion of Ukraine, the UK will move away from dependence on Russian oil throughout this year, building on our severe package of international economic sanctions,” UK Prime Minister Boris Johnson said.
According to London, Russian oil is already being ostracised by the market, with nearly 70% of Russian oil currently struggling to find a buyer, and in a competitive global market demand will quickly be met by alternative suppliers. On March 1, Russian ships were banned from UK ports and authorities were granted new powers to detain Russian vessels.
The statement notes that the UK is not dependent on Russian natural gas, making up less than 4% of our supply. Ministers are also exploring options to reduce this further.
The Prime Minister confirmed that the government will set out an energy strategy to set out the UK’s long term plans for greater energy security, including both renewable and domestic oil and gas supplies.
As reported earlier on Tuesday, the United States announced a complete renunciation of Russian oil imports.
IMPORT, RUSSIAN OIL, STOP, UK
State-owned PrivatBank (Kyiv) has introduced credit holidays for homeowner associations, the bank’s press service reported.
“To support homeowner associations and housing construction cooperatives under martial law, PrivatBank announced from March 1 to June 1, 2022 credit holidays under agreements according to which there was no delay or the delay period is no more than 90 days,” the press service said.
Under the terms of the loan holidays, for the loans for energy-efficient modernization and the Energodom product the mandatory payments (the principal and interest) are transferred to June 1, 2022, no delay is recorded.
