European Commission allocates €1.4 billion to Polish farmers

In the European Union, legal acts have been adopted allowing the transfer of 1.4 billion euros to Poland to support its farmers, according to the European Commission.

"Today, the European Commission has adopted two legal acts that will pave the way for Poland to access up to €137 billion in EU funding," the announcement said.

It is noted that these actions are related to the rule of law reforms adopted by Poland, as well as recent and immediate steps taken to address the main tasks of strengthening the independence of the judicial system.

Support for Polish farmers

The European Commission clarified that Poland's payment request also covers important steps in implementing 25 ambitious reforms and five key investments.

"These measures aim at improving the resilience and competitiveness of its economy, advancing the green energy and digital transitions, as well as supporting health and clean mobility," the EC said.

Additionally, the European Commission will provide Poland with 1.4 billion euros for investments in the agricultural sector. This will involve supporting thousands of farmers and fishermen, as well as the sector itself, to help expand and modernize their production and enter new markets.

Ukrainian border blockade

In February, protests at the Polish-Ukrainian border resumed. Checkpoints are being blocked by farmers, and recently, they started dumping Ukrainian grain.

India seeking alternative to Russian oil amid US sanctions

Due to the sanctions imposed by the United States and pressure from the Russian Federation to pay in yuan, India is gradually refraining from buying Russian oil, writes Bloomberg.

Although Russia is still the dominant supplier to India, there is currently a tendency in the country to increase imports from elsewhere.

In particular, deliveries from Saudi Arabia this month increased by 22% compared to January. So, the largest private Indian refinery Reliance Industries Ltd. bought the largest amount of Saudi oil since May 2020, according to Kpler.

Difficulties in purchasing Russian oil

It is noted that Indian refiners would not mind taking more Russian oil, but to increase the purchase again, US approval for the purchase is needed.

Currently, the price of Russian oil is only cheaper by $2-4 per barrel. Previously, discounts on Russian oil exceeded $30, but such significant discounts are unlikely to return due to competition from China.

India's import of Russian oil surged after the full-scale invasion, as refineries took advantage of cheaper barrels that other buyers were avoiding.

Last year, at the peak of oil production, OPEC+ accounted for nearly half of the country's purchases, but new US sanctions recently halted some shipments.

EU intends to increase defense production

The European Union will aim to have half of its defense systems purchased within the bloc by 2035, reversing a trend where most military equipment is purchased from third countries, according to Bloomberg.

This goal is part of the European Defense Industrial Strategy developed by the EU executive, which also describes joint investments, measures to ensure the security of critical supplies and changes in the European Investment Bank's lending policy, according to a draft document seen by Bloomberg.

The European Commission is expected to present the strategy, which is still subject to change, in the coming weeks.

Russia's invasion of Ukraine has exposed the limitations of EU industry and its dependence on other countries for key supplies and defense capabilities, leaving the bloc struggling to increase production capacity and spending after decades of underinvestment.

"The geopolitical developments point to a compelling need for Europe to take increased responsibility for its own security and to get ready to effectively address the full spectrum of the threats it faces," the draft says.

The proposals in the defense strategy include:

• A minimum floor for joint procurement of defense equipment and reversal of the trend toward purchasing military systems from non-EU suppliers, so that one-third to one-half of the value of the EU defense market is accounted for by intra-EU trade
• Mechanisms to ensure that critical supplies can be immediately ramped up in the event of a shortage or crisis and that critical dependence on third countries can be quickly identified
• Expanding the industry's access to EU funding and programs and creating new partnerships in defense and security
• Identifying flagship projects on which to focus efforts and resources.

Russia imported $1 billion in American and European chips in 2023 despite sanctions

Russia imported over $1 billion worth of high-tech American and European chips in 2023, despite sanctions, according to a Bloomberg report citing classified data from the Russian customs service.

The imported chips were from American manufacturers such as Intel Corp, Advanced Micro Devices, and Analog Devices Inc., as well as European companies like Infineon Technologies AG, STMicroelectronics NV, and NXP Semiconductors NV.

The documents did not indicate any violation of sanctions laws by the companies, nor did they specify who exported the chips to Russia, where they were shipped from, or when they were manufactured.

All companies contacted by Bloomberg stated they fully comply with sanctions requirements, have ceased operations in Russia, and have implemented processes and policies to ensure compliance with sanctions.

The majority of banned technologies enter Russia through re-export from third countries, particularly China, Turkey, and the United Arab Emirates. The U.S. and EU are working to block these routes, focusing especially on a list of high-priority dual-use and advanced goods identified in Russian weaponry in Ukraine or crucial for its production.

Microsoft updated artificial intelligence Copilot

Microsoft has updated its artificial intelligence Copilot. Now, it can engage in conversations with users on personal topics, according to the Microsoft website.

Microsoft has announced the use of the Copilot GPT feature. It allows users to customize the behavior of Microsoft Copilot based on topics that are of particular interest to them.

According to a statement, multiple Copilot GPTs will be able to engage in conversations on topics such as fitness, travel, cooking, and much more.

Users of the extended version, Copilot Pro, will also have the ability to create their own algorithms using the Copilot GPT Builder.

The company has also revealed the launch of a mobile application with the same features as the desktop version.

NATO maritime exercises Dynamic Manta commence in Mediterranean Sea

In the Mediterranean Sea near the coast of Sicily, maritime exercises called Dynamic Manta, involving NATO countries, are set to commence this morning, February 26, according to NATO Maritime Command's Twitter.

Military personnel and ships from Turkey, Canada, France, Germany, Greece, Italy, Spain, the United Kingdom, and the United States will participate in the annual NATO maritime exercises. Seven submarines, several surface ships, and the aviation of NATO member countries are involved in the exercise.

According to the statement, the goal of the exercise will be to enhance the ability to perform naval tasks including sea control and sea denial, strengthening NATO's collective defense and crisis response capabilities.

It is noted that the Mediterranean Sea, with its complex underwater topography, provides an ideal backdrop for the exercises.

Dynamic Manta training also serves as a platform for testing and strengthening the Alliance's crisis response capabilities. Under the tactical leadership of Rear Admiral Pasquale Esposito, the training aims to demonstrate NATO's readiness to protect its members from any threat.

Britain imposes new sanctions against Russia on second anniversary of invasion of Ukraine

Britain has announced the imposition of over 50 new sanctions against individuals and entities supporting the illegal war of Russian dictator Vladimir Putin in Ukraine, according to British Foreign Minister David Cameron.

The sanctions are aimed at those supplying his depleted arsenal with ammunition such as missile launch systems, missiles, and explosives.

The new sanctions also target key sources of Russia's income, restricting trade in metals, diamonds, and energy resources, and cutting off funding for Putin's illegal war from all sides.

"Today’s measures will disrupt Putin’s ability to equip his now struggling military with high tech equipment and much needed weaponry, as well as blocking him from refilling his war coffers- while Ukraine defends itself. This round of designations serves as a clear signal that two years on, the UK stands united with our allies in unwavering support for Ukraine," the minister said.

Today’s package forms part of wider UK action to restrict Putin’s war revenue streams and clamp down on his repeated attempts to evade western sanctions.

The following companies are now under sanctions: