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Ukraine war briefing: Russia seeking to bring Belarus back into the war, says Zelenskyy | Ukraine

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  • Zelenskyy said Kyiv’s wartime experience in the Black Sea could help to ensure freedom of navigation in the strait of Hormuz. “Decisions made regarding Hormuz now will determine how other aggressive actors perceive the possibility of creating problems in other straits and on other fronts,” he said in remarks to a video conference attended by 50 countries and chaired by France and Britain. “We need to be as specific and clear as possible so that in six months we don’t find ourselves in the same situation as in Gaza, where much still needs to be done.” Zelenskyy, whose remarks appeared on the Telegram messaging app, said that in the course of four years of war with Russia, Ukraine had “already carried out a very similar mission in the Black Sea”. He said: “Russia also attempted to blockade our sea and we have experience in escorting merchant vessels, demining, defending against air attacks and the overall coordination of such operations.” Ukraine, he said, had sent specialists throughout the Middle East to help countries benefit from its experience in defending against Russian drones, many designed in Iran. “We can also contribute to maritime security,” Zelenskyy said. Ukraine has clinched security cooperation agreements with Saudi Arabia, Qatar and the United Arab Emirates and says it is in talks with Oman, Kuwait and Bahrain.

  • A fire broke out at an oil terminal in southern Russia’s Krasnodar region, prompting a large firefighting operation, the region’s emergency operational headquarters said early on Saturday. Officials said 224 firefighters and 56 vehicles were battling the blaze at the terminal in Tikhoretsk, north-east of the region’s main town, Krasnodar. No casualties were reported and there was no indication as to what may have caused the fire. Syskyi said this week that Ukrainian forces were seeking to reduce Russia’s offensive capabilities by keeping up a high pace of strikes on military, defence-industrial and other facilities. In March, Ukraine struck 76 such targets including 15 facilities in the oil-refining industry, the top commander said.

  • Serbia’s Russian-owned NIS oil company has secured a 60-day sanctions waiver from the US. The waiver will allow NIS, which operates Serbia’s only oil refinery, to continue importing crude oil until the sale of the Russian majority stake to Hungary’s MOL. The previous one-month waiver expired on Friday. The US imposed sanctions on NIS in October last year as part of wider measures targeting Russia’s energy sector over the war in Ukraine, and demanded divestment of Gazprom Neft and Gazprom, its Russian majority owners. Serbian energy minister Dubravka Djedovic Handanovic called the latest move a sign of progress in the negotiations on the change of ownership between the Hungarian MOL and the Russian Gazprom Neft.



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    Man who suffered 'racially-motivated' attack says he regrets moving to NI

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    The man said his home has been targeted three times in the last five months.



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    European stock markets hit record high and oil price falls to three-month low after US-Iran peace deal – business live | Business

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    European stock markets hit record high

    European stock markets have hit a record high at the start of trading, as relief over the US-Iran peace deal ripples across global markets.

    The pan-European Stoxx 600 index has jumped by 0.9% to 639 points, over the previous record high set just before the Iran war started, with shares rising in London, Frankfurt, Paris, Madrid and Milan.

    Mining and travel companies are driving the rally, while oil company shares are sliding.

    That follows sharp gains in Asia-Pacific markets overnight, where Japan’s Nikkei surged by 5% on hopes that the strait of Hormuz will reopen within days.

    Matt Britzman, senior equity analyst at Hargreaves Lansdown, says global equity markets are starting the week firmly on the front foot after President Trump announced that a deal with Iran had been reached, adding:

    double quotation markThe move has given investors a clear reason to dial back some of the geopolitical risk premium that has hung over markets, especially as the Strait of Hormuz is expected to reopen and oil prices move sharply lower.

    Energy prices have been one of the clearest transmission channels from Middle East tensions into inflation, bond yields and equity sentiment, and there is likely to be a concerted effort to get prices down even further once this deal is finalised.

    There are still details to be ironed out before markets can fully trust the agreement, but for now the direction of travel is clear: lower oil, calmer nerves and a renewed appetite for risk.

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    Peace deal should keep mortgage rates down

    Mortgage borrowers can breathe a sigh of relief at the news of a peace deal in Iran, says Adam French, head of consumer finance at Moneyfactscompare.co.uk.

    double quotation markWhile we are far from being out of the woods yet, a lasting peace deal should dramatically reduce the risk of the Bank of England’s worst-case scenario for inflation and interest rates becoming a reality.

    “Under that scenario, Base Rate could have risen to 5.25%, potentially pushing typical rates on new mortgages towards 6.75%. Instead, today’s news means mortgages rates, which have already been slowly falling for several weeks, have likely already passed their peak – at least until the next unwelcome crisis.

    “Borrowers can be optimistic but with a word of caution, as inflation and economic data will continue to influence the outlook. However, a lasting peace should remove one of the biggest risks to mortgage costs and may help restore a more stable environment for hard-pressed remortgage borrowers and prospective buyers.”

    Even before this morning’s drop in UK bond yields (see earlier post), average mortgage rates have dipped slightly.

    Moneyfacts reports:

    • The average 2-year fixed residential mortgage rate today is 5.61%. This is down from 5.62% the previous working day.

    • The average 5-year fixed residential mortgage rate today is 5.58%. This is down from 5.59% the previous working day.

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    Roy Hattersley, former Labour deputy leader, dies aged 93

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    Paying tribute, Sir Keir Starmer said Lord Hattersley “was a giant of the Labour movement”.



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