INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Wagner crisis shows Ukraine war is ‘cracking’ Russian power: EU

European Union Foreign Policy Chief Josep Borrell. (AFP)
  • What has happened during this weekend shows that the war against Ukraine is cracking Russian power, EU foreign policy chief said
  • He added that war against Ukraine launched by Putin and the monster that Putin created with Wagner, the monster is biting him

Luxembourg, Luxembourg– Wagner’s aborted mutiny shows Moscow’s war in Ukraine is splintering Russian power, the EU’s top diplomat said Monday, warning instability in the nuclear-armed power is “not a good thing”.

“What has happened during this weekend shows that the war against Ukraine is cracking Russian power and affecting its political system,” EU foreign policy chief Josep Borrell said at a meeting of the bloc’s foreign ministers.

“Certainly it’s not a good thing to see that a nuclear power like Russia can go into a phase of instability. It’s also something that has to be taken into account,” Borrell told journalists.

He said “the most important conclusion is that the war against Ukraine launched by (Russian President Vladimir) Putin and the monster that Putin created with Wagner, the monster is biting him”.

“The monster is acting against its creator, the political system is showing the fragilities and the military power is cracking,” Borrell said.

EU foreign ministers were scrambling to digest the fall-out from the uprising at their regular meeting in Luxembourg.

Sweden’s Foreign Minister Tobias Billstrom said the unrest was an “internal affair” for Russia.

He insisted that the “most important thing” was supporting Ukraine so it can win back its territory.