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As the Russia-Ukraine War ragesinto 2023, the economic and human cost of the Russian invasion of its neighbor continues to rise. The war began in February 2022, and several months into the conflictan ally ofRussian PresidentVladimir Putin made a startling statement about a potential Russian military strike on a major Western city if NATO was drawn into the war.

A parliament member of Russia and Putin's staunch supporter, Andrey Gurulyov, sounded out a belligerent warning in his appearance as a guest on state-backed national television in June.

Gurulyov was discussing Lithuania's blockade of the neighboring Russian exclave of Kaliningrad.

For supplying Kaliningrad, Russia may consider invading the Baltic, comprising Lithuania and Estonia, the former defense official told the TV, a video shared by the Daily Mirror with English subtitles showed.

Since these are NATO countries, a Russian invasion will trigger Article 5, potentially leading to World War 3, he added.

Related Link: How Vladimir Putin's Russia Is Transporting Oil To India Via Dubai, Skirting Western Sanctions

"We'll destroy the entire group of enemy space satellites during the first air operation," Gurulyov said.

"The first to be hit will be London. It's crystal clear thatthe threat to the world comes from the Anglo-Saxons."

He also said Russia will target critically-important sites that would cut off power to Europe. The U.S. will have to ask Western Europe to continue fighting in the cold without food and electricity, he warned.

Read Next:Kremlin Warns Of 'Consequences' As It Alleges US Mulling Physical Elimination Of Putin

This article was originally published on June 25, 2022.

Photo: Created with an image fromThomas Quineon Flickr

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Russia’s crypto mining laws have filled the “regulatory vacuum,” but there is still a lot of legal uncertainty about many aspects of regulation.

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Markets react on second open after budget – as traders concerned over some announcements

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Markets react on second open after budget - as traders concerned over some announcements

The cost of government borrowing has jumped, while UK stocks and the pound are up, as markets digest the news of billions in borrowing and tax rises announced in the budget.

While there was no panic, there had been concern about the scale of borrowing and changes to Chancellor Rachel Reeves’s fiscal rules.

At the market open on Friday, the interest rate on government borrowing stood at 4.476% on its 10-year bonds – the benchmark for state borrowing costs.

It’s down from the high of yesterday afternoon – 4.525% – but a solid upward tick.

The pound also rose to buy $1.29 or €1.1873 after yesterday experiencing the biggest two-day fall in trade-weighted sterling in 18 months.

On the stock market front, the benchmark index, the Financial Times Stock Exchange (FTSE) 100 list of most valuable companies was up 0.36%.

The larger and more UK-focused FTSE 250 also went up by 0.1%.

While there was a definite reaction to the budget, uniquely impacting UK borrowing costs, the response is far smaller than after the UK mini-budget.

Many forces are affecting markets with the upcoming US election on a knife edge and interest rate decisions in both the UK and the US coming on Thursday.

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