As the war completes two years, Russia has gained full control of the longtime Ukrainian stronghold of Avdiivka which is just a few miles from Donetsk, which it has already occupied. This is Russia’s biggest gains since capturing the city of Bakhmut in May 2023. Russia is continuing with its gains in the region while the west is grappling over continuing its aid to Ukraine. As the war will soon enter its third year, a lot of light has been shed on Russia, the West and their strategies moving forward.

Russia-Ukraine War: What we've learnt about Russia and the west in these two years

BAE Systems, the British weapons manufacturer on Wednesday (February 21) reported a massive 17 per cent jump in annual net profit. The massive increase has come in the wake of Britain's increased defence spending as war in Ukraine drags on.

BAE said that profit after tax was at almost GBP 1.9 billion (USD 2.4 billion), while the revenue jumped nine per cent to GBP 23 billion.

"Our performance, combined with our global footprint and record order intake, means we're well-positioned for sustained growth in the coming years," said chief executive Charles Woodburn in earnings statement.

He further said that BAE's investment in new technologies would help the company deliver an "order backlog and help ensure... government customers stay ahead in an uncertain world".

Last year, BAE's order backlog reached a record GBP 70 billion.

Shares in BAE tumbled by 2.5 per cent to GBP 12.21 .

"The wider market weakness will not have helped, and there is also the possibility that some investors have simply been taking some profits, with the shares having risen by 35 percent over the last year," said Richard Hunter, head of markets at Interactive Investor, as quoted by AFP.

Also Read | <a href="https://www.wionews.com/business-economy/indias-inflation-prospects-stabilise-economy-poised-for-growth-rbi-bulletin-692182">India's inflation prospects stabilise, economy poised for growth: RBI Bulletin</a>

Earlier this year, BAE completed acquisition of US firm Ball Aerospace for USD 5.5 billion. The Colorado-based company is a supplier of mission payloads, spacecraft, antenna and optical systems. US Department of Defense and civilian space agencies are among its clients.

Watch | Ukraine’s businesses raise concerns over mobilisation legislation

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/ukraines-businesses-raise-concerns-over-mobilisation-legislation-691889/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

"Despite (BAE) being a UK-based company, a whopping 42 per cent of its sales came from the US last year, making it the largest single contributor," said Aarin Chiekrie, equity analyst at Hargreaves Lansdown, as quoted by AFP.

"US military spending trumps any other country in the world, so having a large exposure here is proving very beneficial and has helped the group bring in a record £37.7 billion worth of orders in 2023."

(With inputs from agencies)

BAE Systems, the British weapons manufacturer on Wednesday (February 21) reported a massive 17 per cent jump in annual net profit. The massive increase has come in the wake of Britain's increased defence spending as war in Ukraine drags on.

BAE Systems, the British weapons manufacturer on Wednesday (February 21) reported a massive 17 per cent jump in annual net profit. The massive increase has come in the wake of Britain's increased defence spending as war in Ukraine drags on. BAE said that profit after tax was at almost GBP 1.9 billion (USD 2.4 billion), while the revenue jumped nine per cent to GBP 23 billion. "Our performance, combined with our global footprint and record order intake, means we're well-positioned for sustained growth in the coming years," said chief executive Charles Woodburn in earnings statement. He further said that BAE's investment in new technologies would help the company deliver an "order backlog and help ensure... government customers stay ahead in an uncertain world". Last year, BAE's order backlog reached a record GBP 70 billion. Shares in BAE tumbled by 2.5 per cent to GBP 12.21 . "The wider market weakness will not have helped, and there is also the possibility that some investors have simply been taking some profits, with the shares having risen by 35 percent over the last year," said Richard Hunter, head of markets at Interactive Investor, as quoted by AFP. Also Read | India's inflation prospects stabilise, economy poised for growth: RBI Bulletin Earlier this year, BAE completed acquisition of US firm Ball Aerospace for USD 5.5 billion. The Colorado-based company is a supplier of mission payloads, spacecraft, antenna and optical systems. US Department of Defense and civilian space agencies are among its clients. Watch | Ukraine’s businesses raise concerns over mobilisation legislation × "Despite (BAE) being a UK-based company, a whopping 42 per cent of its sales came from the US last year, making it the largest single contributor," said Aarin Chiekrie, equity analyst at Hargreaves Lansdown, as quoted by AFP. "US military spending trumps any other country in the world, so having a large exposure here is proving very beneficial and has helped the group bring in a record £37.7 billion worth of orders in 2023." (With inputs from agencies)

UK: BAE reports jump in profits as Ukraine war drags on

Eleven Ukrainian children crossed the border from Belarus to Ukraine on Tuesday evening. Several children were taken to Russia and occupied territories during the ongoing war in Ukraine. Watch this video for all details.

Russia eyeing Robotyne after Avdiivka, say Ukrainians | Moscow producing more drones than Kyiv

Russian army recorded a key victory after they claimed that the eastern Ukrainian town of Avdiivka is now under the Kremlin’s control. Check this report to know how the fall of Avdiivka could tilt the balance in favour of Russia as the Russia-Ukraine war enters its third year.

Russia-Ukraine War: Russia takes full control of Ukrainian city Avdiivka

Russia-Ukraine War: Russian forces captured the Eastern stronghold of Avdiivka

Russia on Tuesday claimed a new military success in Ukraine ahead of the second anniversary of its offensive, while President Vladimir Putin mocked what he called Kyiv's "flight" from the frontline town of Avdiivka.

Also read:&nbsp;<a href="https://www.wionews.com/world/navalnys-mother-urges-putin-to-release-body-immediately-692003">Navalny’s mother urges Putin to release body ‘immediately’ for proper burial</a>

The eastern Ukraine front has been frozen for months, but Moscow has been bolstered by its capture of Avdiivka last week, as well as a wrangled U.S. Congress blocking military aid to Kyiv.

Russian Defense Minister Sergei Shoigu said Russian forces have reclaimed Krynky, a Ukrainian bridgehead on the Moscow-occupied side of the Dnipro River.

"I confirm that Krynky has been cleared," Shoigu told Putin in a televised meeting.

Ukraine said last year that it had established positions around the tiny east-bank village, crossing into the Russian-occupied side of the river.

Also read:&nbsp;<a href="https://www.wionews.com/world/fsb-arrests-us-russian-woman-for-alleged-treason-funding-ukrainian-army-691989">Russia's FSB arrests US-Russian woman for alleged treason, funding Ukrainian Army</a>

Shoigu told state media earlier that Russian forces were "on the banks of the river in Krynky."

During the meeting, Putin said the Ukrainian army had chaotically fled Avdiivka. Kyiv said it withdrew from the eastern stronghold to save soldiers' lives.

"The Ukrainian armed forces issued an order to withdraw their armed forces when they were already on the move," Putin said, calling the retreat a "chaotic flight."

Moscow has tried to capture Avdiivka, a symbol of Ukrainian resistance since 2014, for months.

Disclaimer: A number of claims and counterclaims are being made on Ukraine-Russia war on the ground and online. While WION takes utmost care to accurately and responsibly report ongoing developments, we cannot independently verify the authenticity of all statements, photos and videos.

Russia on Tuesday claimed a new military success in Ukraine ahead of the second anniversary of its offensive, while President Vladimir Putin mocked what he called Kyiv's "flight" from the frontline town of Avdiivka.

Russia on Tuesday claimed a new military success in Ukraine ahead of the second anniversary of its offensive, while President Vladimir Putin mocked what he called Kyiv's "flight" from the frontline town of Avdiivka. Also read: Navalny’s mother urges Putin to release body ‘immediately’ for proper burial The eastern Ukraine front has been frozen for months, but Moscow has been bolstered by its capture of Avdiivka last week, as well as a wrangled U.S. Congress blocking military aid to Kyiv. Russian Defense Minister Sergei Shoigu said Russian forces have reclaimed Krynky, a Ukrainian bridgehead on the Moscow-occupied side of the Dnipro River. "I confirm that Krynky has been cleared," Shoigu told Putin in a televised meeting. Ukraine said last year that it had established positions around the tiny east-bank village, crossing into the Russian-occupied side of the river. Also read: Russia's FSB arrests US-Russian woman for alleged treason, funding Ukrainian Army Shoigu told state media earlier that Russian forces were "on the banks of the river in Krynky." During the meeting, Putin said the Ukrainian army had chaotically fled Avdiivka. Kyiv said it withdrew from the eastern stronghold to save soldiers' lives. "The Ukrainian armed forces issued an order to withdraw their armed forces when they were already on the move," Putin said, calling the retreat a "chaotic flight." Moscow has tried to capture Avdiivka, a symbol of Ukrainian resistance since 2014, for months. Disclaimer: A number of claims and counterclaims are being made on Ukraine-Russia war on the ground and online. While WION takes utmost care to accurately and responsibly report ongoing developments, we cannot independently verify the authenticity of all statements, photos and videos.

Russia claims it has taken back Ukraine bridgehead on Dnipro’s left bank

Eleven Ukrainian children crossed the border from Belarus to Ukraine on Tuesday evening. Several children were taken to Russia and occupied territories during the ongoing war in Ukraine.

Russia repatriates Ukrainian children after Qatari mediation

Putin's biggest critic Alexei Navalny's wife Yulia Navalnaya has vowed to continue her husband's fight. Will she be the new leader of the opposition in Russia? Is she President Putin's new enemy?

Gravitas: Is Navalny's wife Yulia Navalnaya Putin's new enemy?

India's External Affairs Minister Dr S Jaishankar repeated New Delhi's position on the Russia-Ukraine war and said that the country's ties with Moscow are based on historical experiences — western sanctions notwithstanding.

India's External Affairs Minister Dr S Jaishankar repeated New Delhi's position on the Russia-Ukraine war and said that the country's ties with Moscow are based on historical experiences — western sanctions notwithstanding. In an interview with the German daily Handelsblatt, Jaishankar also responded to question if India would act as a mediator to end the Russia-Ukraine war which is set to enter its third year later this month. Jaishankar said that India is publicly committed to bringing the conflict to an end. "Everyone is suffering from this conflict. I don't know exactly how it will end, we're not deep enough into the process to know," said the Indian foreign minister. "Isn't that why you could be a mediator?," the interviewer asked Jaishankar. "Theoretically, yes," Jaishankar said, adding that New Delhi has already helped with very specific issues. "Wherever we can help, we are happy to do so. We are open when we are approached. However, we do not believe that we should initiate anything in this direction on our own," added Jaishankar. Russia has never hurt India's interests: Jaishankar When asked if the Indo-Russian relationship is a "burden" on the India-Europe relationship due to oil trade between the two countries, Jaishankar said that Russia has never hurt Indian interests. "Everyone conducts a relationship based on their past experiences. If I look at the history of India post-independence, Russia has never hurt our interests," Jaishankar said. Also read | Putin’s actions in Ukraine do not make Indians anti-Russia. Here’s why "The relations of powers like Europe, the US, China or Japan with Russia, they have all seen ups and downs. We have had a stable and always very friendly relationship with Russia. And our relationship with Russia today is based on this experience," said the Indian foreign minister. Asked if India would have liked support from Europe in conflict with China in 2020, Jaishankar said that just like India does not expect Europe to have a view of China that is identical to India's, Europe should understand that India cannot have a view of Russia that is identical to the European one. "Let us accept that there are natural differences in relationships." Also watch | Indian PM Modi speaks to Ukraine President Zelensky × Jaishankar, when asked about Russia being an important arms supplier to India, slammed the West's longstanding preference to supply Pakistan with arms and not India. "In terms of inventory", Jaishankar added that Moscow remains the most important arms supplier for New Delhi. "Because many Western countries have long preferred to supply Pakistan and not India. But that has changed in the past ten or fifteen years with the USA, for example, and our new purchases have diversified with the USA, Russia, France and Israel as the main suppliers," he added.

Will India act as mediator to end Russia-Ukraine war? Jaishankar responds

The Russia-Ukraine war continues to rage on. Meanwhile, the threat of a nuclear war is looming. The West and Russia are still at a crossroads. Now, Russia's Medvedev issues a nuclear threat. Watch this video for all details.

Former Russian President Medvedev threatens to nuke the US, UK, Germany & Ukraine

Administration has been arguing for more aid to Ukraine typically as a moral or a strategic objective in its ongoing war against Russia. Now, those who agree with the President say that aid also helps boost the US economy.

US support for Ukraine: Moral or strategic?

Ukraine says that Russian troops have launched multiple attacks to the west of recently captured Avdiivka. Kyiv has accused Moscow of trying to attack beyond the city and force more gains on the battlefield. This comes after Russia claimed full control of Avdiivka.

Russia-Ukraine War: Surge in defence orders boosts production & economy in US

Ukraine says that Russian troops have launched multiple attacks to the west of recently captured Avdiivka. Kyiv has accused Moscow of trying to attack beyond the city and force more games on the battlefield. Russian troops launched multiple attacks to the west of recently captured Avdiivka in a bid to force more gains on the battlefield, a Ukrainian army spokesperson said Sunday. Kyiv said that Russia is trying to attack beyond Avdiivka. Watch to know more.

Russia-Ukraine war: Russian troops have launched multiple attacks near Avdiivka: Kyiv

In a move intensifying geopolitical tensions, Ukraine has stood firm on its decision not to remove Raiffeisen Bank International from its "sponsors of war" blacklist despite pressure from Austrian political leaders and the bank itself. <o:p></o:p>

The decision challenges Raiffeisen, one of Austria's largest banks, to clarify its plans regarding its ties with Russia, as revealed in a letter obtained by Reuters. <o:p></o:p>

Ukrainian officials expressed scepticism over the vague nature of Raiffeisen's exit strategy from Russia, citing concerns about the lack of a clear timeline and incomplete plans.<o:p></o:p>

"The sale timeline is missing... it remains unclear when, if at all, a spin-off scenario might come into action," Ukrainian officials emphasised in the letter. <o:p></o:p>

Raiffeisen had previously aimed to spin off its Russian business, but concrete steps in that direction have yet to materialise, adding to the ambiguity surrounding its departure from the region.<o:p></o:p>

Raiffeisen defended its position, citing the dependency on regulatory approvals as a key factor in determining the timeline for leaving Russia. <o:p></o:p>

Despite facing mounting pressure, the bank refrained from committing to a specific timeframe, stating that such decisions hinge on regulatory consent.<o:p></o:p>

The blacklist, although lacking legal implications, holds significant symbolic weight, serving as a point of contention between Ukraine and Austria. <o:p></o:p>

While Austria has publicly supported Ukraine, it has also been cautious not to sever longstanding ties with Russia completely. <o:p></o:p>

Austrian officials argue that Raiffeisen has been unfairly singled out, especially considering the presence of other international banks, like Italy's UniCredit, which continue to operate in Russia without facing similar repercussions.<o:p></o:p>

In December, Austrian politicians secured a temporary suspension for Raiffeisen from the blacklist, reflecting Austria's efforts to balance its support for Ukraine with its economic interests in Russia. <o:p></o:p>

However, the bank's name still appears on the list alongside other companies designated as "international sponsors of war" by Ukraine's National Agency of Corruption Prevention.<o:p></o:p>

Responding to the pressure, Raiffeisen disclosed its advanced talks to sell its Belarusian subsidiary to a buyer from the United Arab Emirates. <o:p></o:p>

This move suggests a shift in the bank's strategic focus away from Russia, potentially addressing some of the concerns raised by Ukrainian officials.<o:p></o:p>

Despite the suspension from the blacklist, Ukrainian authorities have maintained their stance, emphasising that Raiffeisen's "suspended" status would persist until concrete progress is made toward disengagement from Russia.<o:p></o:p>

&nbsp;The letter sent to the bank reiterated the possibility of removal from the blacklist contingent upon receiving "positive news," signalling Ukraine's willingness to reconsider its position based on tangible developments.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

In a move intensifying geopolitical tensions, Ukraine has stood firm on its decision not to remove Raiffeisen Bank International from its "sponsors of war" blacklist despite pressure from Austrian political leaders and the bank itself.

In a move intensifying geopolitical tensions, Ukraine has stood firm on its decision not to remove Raiffeisen Bank International from its "sponsors of war" blacklist despite pressure from Austrian political leaders and the bank itself. The decision challenges Raiffeisen, one of Austria's largest banks, to clarify its plans regarding its ties with Russia, as revealed in a letter obtained by Reuters. Ukrainian officials expressed scepticism over the vague nature of Raiffeisen's exit strategy from Russia, citing concerns about the lack of a clear timeline and incomplete plans. "The sale timeline is missing... it remains unclear when, if at all, a spin-off scenario might come into action," Ukrainian officials emphasised in the letter. Raiffeisen had previously aimed to spin off its Russian business, but concrete steps in that direction have yet to materialise, adding to the ambiguity surrounding its departure from the region. Raiffeisen defended its position, citing the dependency on regulatory approvals as a key factor in determining the timeline for leaving Russia. Despite facing mounting pressure, the bank refrained from committing to a specific timeframe, stating that such decisions hinge on regulatory consent. The blacklist, although lacking legal implications, holds significant symbolic weight, serving as a point of contention between Ukraine and Austria. While Austria has publicly supported Ukraine, it has also been cautious not to sever longstanding ties with Russia completely. Austrian officials argue that Raiffeisen has been unfairly singled out, especially considering the presence of other international banks, like Italy's UniCredit, which continue to operate in Russia without facing similar repercussions. In December, Austrian politicians secured a temporary suspension for Raiffeisen from the blacklist, reflecting Austria's efforts to balance its support for Ukraine with its economic interests in Russia. However, the bank's name still appears on the list alongside other companies designated as "international sponsors of war" by Ukraine's National Agency of Corruption Prevention. Responding to the pressure, Raiffeisen disclosed its advanced talks to sell its Belarusian subsidiary to a buyer from the United Arab Emirates. This move suggests a shift in the bank's strategic focus away from Russia, potentially addressing some of the concerns raised by Ukrainian officials. Despite the suspension from the blacklist, Ukrainian authorities have maintained their stance, emphasising that Raiffeisen's "suspended" status would persist until concrete progress is made toward disengagement from Russia. The letter sent to the bank reiterated the possibility of removal from the blacklist contingent upon receiving "positive news," signalling Ukraine's willingness to reconsider its position based on tangible developments. (With inputs from Reuters)

Ukraine refuses to remove Raiffeisen from "Sponsors of War" blacklist: Report

Russia is keeping an eye on Ukraine with the aid of SpaceX terminals. As per sources, Russian troops in Ukraine are using Starlink satellite communications terminals. Russian troops acquired the terminals from private Russian firms that purchased them from intermediaries.

Is Russia using thousands of SpaceX Starlink terminals in Ukraine?

The Russia-Ukraine war continues to drag on. Zelensky is seeking much-needed aid for Ukraine. Meanwhile, Russia continues with its relentless grinding. Is Ukraine losing Avdiivka to Putin's Russia? Watch this video to find out.

Why is Ukraine withdrawing units from parts of Avdiivka?

Ukraine claims it has now disabled a third of Russia’s Black Sea Fleet after its military intelligence said it sank another Russian warship in a sea drone attack off the coast of Crimea. Kremlin has so far refused to make comments.

Russia-Ukraine war: Russian fleet reportedly left Crimean peninsula

Ukraine said that it had destroyed a Russian warship in the Black Sea, a key battleground of the nearly two-year war where Kyiv's forces have recently escalated attacks. Watch in for more details!

Russia-Ukraine War: Ukraine claims sinking another Russian warship near Crimea

The Munich Security Index 2024 a key data set for Global threat perceptions has highlighted some insightful trends focusing on a variety of geopolitical issues such as Russia's invasion of Ukraine and the Israel-Hamas War. Watch to know more!

Munich Security Index 2024: Only UK, Japan view Russia as top threat among G7

Russia-Ukraine war: Kyiv claims sinking another Russian warship

Russia-Ukraine war: Kyiv making gains in its battle of drones

Russia steps up usage of Hypersonic missiles to strike Ukraine. President Vladimir Putin describes the hypersonic weapon as "invincible", but what exactly are they? While analysts caution not to exaggerate the use of the Zircon during the war as it is a new – and expensive – technology the big question remains how many has Russia produced?

Russia uses Zircon Hypersonic Missile in Ukraine for first time: Report

Russian President Vladimir Putin has indicated its interest in Striking a deal to Halt the Ukraine war but this will only happen if Russia can declare victory. The United States had rejected Vladimir Putin's suggestion of a ceasefire in Ukraine to freeze the war. According to reports there are no signs of an end game in Europe's deadliest conflict since World War II. Watch to know more!

Russia President Putin's ceasefire offer rejected by the US: Reports

In a significant move towards supporting Ukraine's recovery efforts, the European Union (EU) has enacted legislation aimed at allocating windfall profits from frozen Russian central bank assets for the reconstruction of Ukraine, the EU announced on Monday. <o:p></o:p>

This decision marks a pivotal moment in the EU's efforts to utilise funds accrued from sanctions imposed on Russia following its invasion of Ukraine.<o:p></o:p>

Since the invasion, both the EU and the Group of Seven nations (G7) have collectively frozen around 300 billion euros ($323 billion) of Russian central bank assets. <o:p></o:p>

Deliberations on the utilisation of these funds have persisted for over a year, with the United States proposing outright confiscation. <o:p></o:p>

However, EU officials have deemed this approach legally precarious.<o:p></o:p>

The majority of the frozen assets, approximately two-thirds, are held within the EU, with a significant portion managed by Belgium's Euroclear. <o:p></o:p>

Until now, only taxes on these assets in Belgium have been directed towards a dedicated fund for Ukraine, overseen by the Belgian government.<o:p></o:p>

Under the newly passed law, central securities depositaries (CSDs) like Euroclear will be mandated to segregate net profits and revenues from Russian assets, ensuring they are kept separate from other financial activities.<o:p></o:p>

This regulation applies to institutions holding over 1 million euros ($1.1 million) of the Central Bank of Russia’s assets, providing clarity on the legal framework surrounding the utilisation of these funds.<o:p></o:p>

The EU estimates that approximately 15 billion euros ($16.17 billion) in profits could be allocated for Ukraine's benefit over the next four years from these assets. <o:p></o:p>

Additionally, the EU has committed to providing 50 billion euros ($53.89 billion) in aid to Kyiv.<o:p></o:p>

Ukrainian Foreign Minister Dmytro Kuleba expressed appreciation for the EU's decision.<o:p></o:p>

He urged ambitious and prompt actions in this regard.<o:p></o:p>

Meanwhile, the Kremlin has yet to respond to the EU's move. <o:p></o:p>

Moscow has previously stated that any attempt to use frozen Russian assets for Ukraine would be deemed illegal and subject to prolonged litigation, asserting that they would challenge such measures.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

In a significant move towards supporting Ukraine's recovery efforts, the European Union (EU) has enacted legislation aimed at allocating windfall profits from frozen Russian central bank assets for the reconstruction of Ukraine, the EU announced on Monday.

In a significant move towards supporting Ukraine's recovery efforts, the European Union (EU) has enacted legislation aimed at allocating windfall profits from frozen Russian central bank assets for the reconstruction of Ukraine, the EU announced on Monday. This decision marks a pivotal moment in the EU's efforts to utilise funds accrued from sanctions imposed on Russia following its invasion of Ukraine. Since the invasion, both the EU and the Group of Seven nations (G7) have collectively frozen around 300 billion euros ($323 billion) of Russian central bank assets. Deliberations on the utilisation of these funds have persisted for over a year, with the United States proposing outright confiscation. However, EU officials have deemed this approach legally precarious. The majority of the frozen assets, approximately two-thirds, are held within the EU, with a significant portion managed by Belgium's Euroclear. Until now, only taxes on these assets in Belgium have been directed towards a dedicated fund for Ukraine, overseen by the Belgian government. Under the newly passed law, central securities depositaries (CSDs) like Euroclear will be mandated to segregate net profits and revenues from Russian assets, ensuring they are kept separate from other financial activities. This regulation applies to institutions holding over 1 million euros ($1.1 million) of the Central Bank of Russia’s assets, providing clarity on the legal framework surrounding the utilisation of these funds. The EU estimates that approximately 15 billion euros ($16.17 billion) in profits could be allocated for Ukraine's benefit over the next four years from these assets. Additionally, the EU has committed to providing 50 billion euros ($53.89 billion) in aid to Kyiv. Ukrainian Foreign Minister Dmytro Kuleba expressed appreciation for the EU's decision. He urged ambitious and prompt actions in this regard. Meanwhile, the Kremlin has yet to respond to the EU's move. Moscow has previously stated that any attempt to use frozen Russian assets for Ukraine would be deemed illegal and subject to prolonged litigation, asserting that they would challenge such measures. (With inputs from Reuters)

EU to channel frozen Russian assets for Ukraine's reconstruction: Report

Here, we bring you the news that is trending across WION's social media platforms- In the latest report, mutant wolves present in Chornobyl's deserted streets appear to have developed cancer resistance. The study by the Society for Integrative and Comparative Biology has boosted hopes that the results would help doctors combat cancer in humans also.

Wolves in Ukraine's Chernobyl area developing resilience to cancer: Report

Russia on Tuesday (Feb 13) warned the West that its response would be “very tough” if its assets were seized by Europe and the United States. Both the European Union and the US seized Russian assets worth $300 billion in 2022 following Moscow’s decision to invade Ukraine. Russia’s warning came a day after the EU adopted a law aimed at utilising windfall profits from Russian assets frozen in EU banks for rebuilding Ukraine.

"This is theft: It's the appropriation of something that doesn't belong to you," Russian Foreign Ministry Spokeswoman Maria Zakharova was quoted as saying by state-backed media. She added that Russia’s response would be “very tough.”

"Considering that our country has qualified this as theft, the attitude will be towards thieves," Zakharova said. "Not as political manipulators, not as overplayed technologists, but as thieves," she added. Moscow maintains that it would also seize American and European assets in a tit-for-tat move.

<h2>EU’s new law </h2>

Russia’s response came after the EU on Monday passed the law aimed at funding Ukraine’s rebuilding using Russian assets. The EU, along with G7 nations have been debating for over a year how the Russian assets should be used to help Ukraine.

Watch:&nbsp;Russia-Ukraine war: What hope for Ukraine if US military aid dries up?

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/russia-ukraine-war-what-hope-for-ukraine-if-us-military-aid-dries-up-689865/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

The US even floated the idea of confiscating the $300 billion assets altogether, a move deemed too risky by the EU officials.

<h2>Who holds Russian assets in Europe?</h2>

The majority of the assets are held by Belgium's clearing house Euroclear.

The law passed on Monday means central securities depositories (CSDs), such as Euroclear, will be prohibited from using net profits and must keep revenues from the Russian assets separate.

The law would apply to all financial institutions holding Russian assets worth more than $1.1 million.

Also read:&nbsp;<a data-jsarwt="1" data-usg="AOvVaw3gZmFF1ftwPerUXbeNdXK5" data-ved="2ahUKEwjF2aqhmaiEAxWS_DgGHXrlB_0QxfQBKAB6BAgQEAE" href="https://www.wionews.com/business-economy/eu-to-channel-frozen-russian-assets-for-ukraines-reconstruction-report-689731" jsname="YKoRaf">EU to channel frozen Russian assets for Ukraine`s reconstruction: Report</a>

As per estimates, a whopping $16 billion in profits could be extracted from Russian assets by using the new law.

Ukraine welcomed the EU’s move. "We encourage further steps to enable their practical use for Ukraine's benefit. These steps must be ambitious and prompt," Ukrainian Foreign Minister Dmytro Kuleba wrote on X.

(With inputs from agencies)

Russia on Tuesday (Feb 13) warned the West that its response would be “very tough” if its assets were seized by Europe and the United States. Both the European Union and the US seized Russian assets worth $300 billion in 2022 following Moscow’s decision to invade Ukraine.

Russia on Tuesday (Feb 13) warned the West that its response would be “very tough” if its assets were seized by Europe and the United States. Both the European Union and the US seized Russian assets worth $300 billion in 2022 following Moscow’s decision to invade Ukraine. Russia’s warning came a day after the EU adopted a law aimed at utilising windfall profits from Russian assets frozen in EU banks for rebuilding Ukraine. "This is theft: It's the appropriation of something that doesn't belong to you," Russian Foreign Ministry Spokeswoman Maria Zakharova was quoted as saying by state-backed media. She added that Russia’s response would be “very tough.” "Considering that our country has qualified this as theft, the attitude will be towards thieves," Zakharova said. "Not as political manipulators, not as overplayed technologists, but as thieves," she added. Moscow maintains that it would also seize American and European assets in a tit-for-tat move. EU’s new law Russia’s response came after the EU on Monday passed the law aimed at funding Ukraine’s rebuilding using Russian assets. The EU, along with G7 nations have been debating for over a year how the Russian assets should be used to help Ukraine. Watch: Russia-Ukraine war: What hope for Ukraine if US military aid dries up? × The US even floated the idea of confiscating the $300 billion assets altogether, a move deemed too risky by the EU officials. Who holds Russian assets in Europe? The majority of the assets are held by Belgium's clearing house Euroclear. The law passed on Monday means central securities depositories (CSDs), such as Euroclear, will be prohibited from using net profits and must keep revenues from the Russian assets separate. The law would apply to all financial institutions holding Russian assets worth more than $1.1 million. Also read: EU to channel frozen Russian assets for Ukraine`s reconstruction: Report As per estimates, a whopping $16 billion in profits could be extracted from Russian assets by using the new law. Ukraine welcomed the EU’s move. "We encourage further steps to enable their practical use for Ukraine's benefit. These steps must be ambitious and prompt," Ukrainian Foreign Minister Dmytro Kuleba wrote on X. (With inputs from agencies)

Russia vows ‘very tough’ response over West’s ‘theft’ of its seized assets

A preliminary analysis concluded that Russia hit Kyiv last week with the hypersonic Zircon missile. The head of a Kyiv research institute said Russia used Zircon for the first time in the ongoing war. These missiles are presenting a new challenge to Ukraine's air defences. Watch this video for all details.

All about Russia's lethal Zircon hypersonic missile used for the first time in the Ukraine war

With elections next month, who are Vladimir Putin's challengers and what chance to they stand against the long-time russian president?

Russia releases list of final candidates for elections | Race To Power

With no end to the war in sight, Ukraine's army is struggling to find enough soldiers. A controversial mobilisation bill -- designed to make it easier to draft troops and give those serving respite -- has triggered a bitter debate over Kyiv's recruitment policy. Will Ukraine find the next wave of troops?

Russia-Ukraine war | Ukrainian troops' angry push for new recruits

Latest in Russia-Ukraine war: Russia bombards Ukraine as three Russian drones hit Ukraine's Kharkiv. Russia launched a drone attack on Ukraine city of Kharkiv, killing seven people. The attacked damaged infrastructure and residential houses. Watch to know more!

Russia-Ukraine war: Russia's overnight drone attack on Kharkiv claims 7 lives including 3 children

Russia-Ukraine war: Kharkiv hit by deadly Russian drone, 7 killed

russia-ukraine-war

Russia Ukraine War, News on Russia Ukraine War, stories on Russia Ukraine War, articles on Russia Ukraine War, Russia Ukraine War stories at Wion, Russia Ukraine War news, Russia Ukraine War latest news

russia ukraine-war