Search Site

Trends banner

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Russia sanctions not working, says Italy far-right leader

FOR REPRESENTATION PURPOSE ONLY. (AFP)
  • Skyrocketing energy prices since the start of the war in Ukraine have wreaked economic pain on countries.
  • Someone in Europe has made a bad calculation. It is essential to rethink the strategy to save jobs and businesses, said Matteo Salvini, a far right leader in Italy.

CERNOBBIO, ITALY – The leader of Italy’s far-right League party, Matteo Salvini, has sparked debate by saying that the unprecedented sanctions the West had imposed on Russia over the Ukraine invasion weren’t working.

“Several months have passed and people are paying two, three, even four times more for their bills,” he told Rtl radio. “And after seven months, the war continues and Russian Federation coffers are filling with money.”

“Are the sanctions working? No. Today, those who have been sanctioned are winners and those who put the sanctions in place are on their knees,” he tweeted the day earlier.

“It’s evident that someone in Europe has made a bad calculation. It is essential to rethink the strategy to save jobs and businesses in Italy,” he said.

Skyrocketing energy prices since the start of the war in Ukraine have wreaked economic pain on countries in the European Union which before the war had been reliant on Russia for a large chunk of its gas supplies.

Following Salvini’s comments, Enrico Letta, leader of the Democratic Party and one of his main adversaries ahead of parliamentary elections on September 25 retorted on Twitter: “I think (Russian President Vladimir) Putin couldn’t have said it better.”