FirstFT: Ukraine accuses Germany of “blocking” NATO arms supply

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Ukraine’s new defense minister criticized Germany for blocking the supply of arms to Kiev via NATO, despite US warnings of a possible imminent invasion by Russian forces.

Oleksii Reznikov told the Financial Times that over the past month Berlin had vetoed Ukraine’s purchase of anti-drone rifles and anti-sniper systems through the Support and Supply Agency of NATO. However, Germany had since relented on the first element, having deemed it non-lethal.

“They are still building the Nord Stream 2 pipeline and at the same time blocking our defensive weapons. It’s very unfair, ”said Reznikov, referring to the Russian gas pipeline that crosses the Baltic Sea to Germany and bypasses existing supply routes through Ukraine.

Kiev has struggled to fill gaps in its military capabilities, but allies fear the arms supply could be seen as a provocation, or even a pretext for escalation, by Moscow. Ukraine is urgently seeking to acquire anti-missile and anti-aircraft systems, electronic warfare kits and cyber defense equipment.

Officials and analysts – and even people close to the Kremlin – admit that Russian President Vladimir Putin’s true intentions with Ukraine remain a mystery.

Thanks for reading FirstFT Europe / Africa. Here’s the rest of today’s news – Jennifer

1. FCA recruits law firms and headhunters The UK’s Financial Conduct Authority is hiring private law firms to help process applications and has spent nearly £ 1million on headhunters this year as it faces nearly double the number typical of vacancies following a wave of departures.

2. Greensill gave the neighbor’s business a taxpayer-backed Covid loan The now collapsed company gave a government-guaranteed coronavirus loan to a business owned by a neighbor of founder Lex Greensill after the two jointly lobbied their local council to adopt their controversial channel funding model supply.

3. UK ports on their way for the worst year since 1983 Cargo handled at the country’s ports is expected to hit a nadir of around 408 million tonnes this year, down 13.5% from 2019, after lower North Sea oil production and Brexit have sharply reduced freight volumes, which are not expected to reach until pandemic levels through 2026.

  • In the heavens: The cost of air freight around the world has reached record highs, with prices nearly doubling on crucial air freight routes as companies try to meet growing demand as Christmas approaches.

4. Greece will push the ECB to continue buying its bonds Greece’s central bank plans to launch a call for the country’s bonds to remain eligible for new purchases by the European Central Bank after March, when the massive bond-buying program launched in response to the pandemic is expected to end.

5. Deaths Rise After “Unprecedented” American Tornadoes Rescue efforts continued yesterday after what the governor of Kentucky described as the “longest and deadliest” tornado in U.S. history left dozens of people dead and a trail of devastation across across the South and Midwest.

Damaged vehicles and personal belongings litter a large area along Kentucky’s Highway 81 © Greg Eans / The Messenger-Inquirer / AP

Coronavirus digest

  • Over 18 years through England will be offered Covid-19 booster shots by January, the government said. A real world study showed that a third dose could be up to 75 percent effective against symptomatic infection of the Omicron variant.

  • South Africa President Cyril Ramaphosa is being treated for mild symptoms after testing positive for Covid.

  • the UK is preparing to extend its test and traceability system until 2025, according to published contracts. Boris Johnson faces criticism after photos were posted of him taking a staff quiz in Downing Street last December.

  • Tens of thousands of we government employees are still not vaccinated despite a federal jab warrant, an analysis from the FT has revealed. Nearly two-thirds of U.S. companies plan to require at least some workers to be vaccinated, according to an employer survey.

  • The attempt at renewal in the travel industry has stalled as airline and hotel bookings plummeted following the emergence of Omicron. British airlines have called for a new economic support package.

The day to come

OPEC monthly report The oil group is expected to publish its monthly report on the oil market. Register for our Energy source newsletter, delivered on Tuesdays and Thursdays at the latest.

US consumer inflation expectations Inflation in November hit 6.8% and the idea that a higher rate would be “transient” is fading. The basic producer price index figures are also expected.

What else do we read

Can British Police Regain Public Trust? Charges of misconduct and a series of flawed investigations have cast doubt on the competence of the UK forces, with particularly acute concerns over the effectiveness of the police in dealing with sexual assault, rape crimes and cases involving minorities.

In JPMorgan’s customer poaching line A battle over who manages baseball player Alex Rodriguez’s fortune has exposed a bitter turf war at the U.S. bank, with a financial adviser claiming his colleagues tried to poach his billionaire and multi-millionaire clients.

bulls, bears and frogs of 2022 Will next year be a year of risk or reward? There will be good investment opportunities but they will be weighed against the danger of pandemic shocks, inflation and climate change. FT Money’s investment panel discusses possible future twists and turns.

Line graph of the Consumer Price Index, annual% change showing UK inflation expected to rise

The US banking sector separated With the best analytical capabilities money can buy and trillions of dollars in cash, core commercial lenders in the world’s largest economy still have a blind spot: communities of color. This is the first part of a series devoted to race and the financial system.

A blunder teaches much more than a triumph Failure is so obviously a better teacher than success that it is cliché to mention it. Business books routinely indicate that flawless work cultures, where mistakes are recognized, help boost productivity and innovation, writes Pilita Clark.

Giving

From jams and jewelry to artistic foundations and food activism, the second issue of How To Spend It philanthropy examines all kinds of charitable work. Find out how to give it 2021.

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