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    Rwanda: Paul Kagame announces he will run for a fourth term

    Rwanda: Paul Kagame announces he will run for a fourth term

    Breaking: Tribunal Sacks Kano State Governor Abba Kabir of NNPP

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    Zelensky’s virtual speeches to Parliaments around the world invoking history

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    Headline Inflation in Nigeria rose to 22.04% in March

    Food prices continue to soar in Nigeria as inflation hits 25.80%

    NERC hikes electricity meter price by 40%

    NERC hikes electricity meter price by 40%

    NNPC says no plan to increase petrol price in March

    Nigeria’s daily petrol consumption dropped by 16.8% in July – report

    Student Loan Act: How to apply for the loan, all you need to know

    Tinubu establishes presidential CNG initiative, targets nationwide adoption

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    FG to streamline taxes from 52 to 10, rename FIRS

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    Student Loan Act: How to apply for the loan, all you need to know

    FG establishes ‘Infrastructure Support Fund (ISF) for the 36 States of the Federation’

    Headline Inflation in Nigeria rose to 22.04% in March

    Inflation in Nigeria rises to 22.79% in June 2023

    CBN extends Naira 4 Dollar Scheme for diaspora remittances until further notice

    CBN includes Naira as payout option for diaspora remittance

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    Nigerian Exchange: Stock Market report for week ended 22 September 2023

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    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX- ASI declined by 0.07% as VITAFOAM loses 10%

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    The NGX- ASI gained by 1.11% as Dangote Sugar rises another 10%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX- ASI declined by 0.08% as TRANSCORP falls 9.99%

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    The NGX- ASI gained by 0.90% as Dangote Sugar rises above N50

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    Court sanctions transfer of Access Bank Plc Shares to Holding Company

    Access Holdings Plc declares 30 kobo interim dividend for H1 2023

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    AIICO Board of Directors approve Dividend Payment and  2021 Financial Statements

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    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

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    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

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    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

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Let’s use money for Russia’s Oil & Gas supply to Europe to rebuild Ukraine – Estonia

Wednesday, 30 March 2022, 5:29 pm
in News, World
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Let’s use money for Russia’s Oil & Gas supply to Europe to rebuild Ukraine – Estonia
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Estonia has proposed to restore Ukraine with money from Russia’s oil and gas revenues, so payments from the EU to Russia for energy supplies, as they think in Tallinn, should be temporarily deposited, according to a report by Interfax on Wednesday.

In the preceding week, Estonia asked for the European Union to set up an escrow account to capture part of the payments for Moscow’s oil and gas and use it to rebuild Ukraine.

Estonian prime minister had said before a meeting with EU leaders at a summit Brussels on 24 March, that the idea would be discussed amongst EU leaders.

Read also; War in Yemen: Saudi Arabia agrees to Ramadan truce ahead of peace talks

In a briefing on Wednesday, Estonia’s Minister of Foreign Affairs Eva-Maria Liimets echoed the same sentiments;

“The cost of military action for Russia must be very high, so by the end of the year the EU will reduce the supply of fossil fuels from Russia by two-thirds.”

“But in order to have an immediate impact and make Russia pay for what was done to Ukraine, last week the Estonian Prime Minister proposed at the EU Council to temporarily deposit payments for Russian gas and oil and use them to rebuild Ukraine,” the minister said.

According to the minister, it is important that negotiations are underway between Ukraine and Russia, “but there is no progress in them.”

“Ukraine is conducting these negotiations under pressure,” Liimets said.

She stressed that in connection with the hostilities, Estonia will continue to work in three areas – this is support for Ukraine, strengthening the political and economic isolation of Russia, as well as strengthening its own security.

The European Union has pledged to wean itself off Russia’s energy resources over Moscow’s military operation in Ukraine by 2030.

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

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