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Russia’s VEB planning first deals with Islamic Development Bank

KAZAN, May 20. /TASS/. Russia’s VEB development bank plans to announce its first deals with the Islamic Development Bank (IDB) in the nearest future, Chairman Sergey Gorkov said Friday.

"We assume that we can enter into first deals with the Islamic Development Bank in the nearest future," he said, adding that the bank may announce particular transactions in the autumn this year.

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The Islamic Development Bank is an international financial institution of Muslim countries (56 member-states) headquartered in Jeddah, Saudi Arabia.

Meanwhile, Russia’s Federation Council deputy speaker Yevgeny Bushmin said on Friday that the Central Bank and the Russian legislation are not prepared for promotion of Islamic banking in the country.

"There are several opposite viewpoints regarding the question whether the financial legislation is prepared to promotion of partnership finances and Islamic banking in the Russian economy. We stick to the view that neither the Central Bank nor the legislation are prepared to this, and certain measures should be assumed," Bushmin said.

Islamic banking refers to a system of banking or banking activity that is consistent with the principles of the Sharia (Islamic rulings) and is alternative to traditional banking. Sharia prohibits acceptance of specific interest or fees for loans of money (known as usury). For this reason Islamic banks raise their incomes directly from profits of business projects they finance. When attracting money from individuals Islamic banks don’t pay income on deposits to their clients expect for inflation rate, which is set by the state.

Gazprombank’s UnionPay cards no longer serviced in several countries

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Oreshnik missile to go into serial production, Putin says

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Russia, CSTO partners to discuss West’s authorization of strikes on Russia — TASS source

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According to the experts, Ukraine’s incursion into Russia’s borderline Kursk Region turned out to be a "strategic catastrophe" amid "manpower shortages"

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Russian President Vladimir Putin said on November 21 that the United States and its NATO allies had earlier announced that they would authorize Ukraine’s use of long-range weapons to hit inside Russia, after which American and British missiles struck Russian military facilities in the Kursk and Bryansk regions

US, Europe openly side with Kiev by supplying it with weapons — top Turkish diplomat

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France only finishes off Ukraine by allowing it to strike inside Russia — diplomat

Zakharova said earlier that no attempts by "French warmongers" would change the outcome of the conflict

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North Korean leader warns of growing risk of nuclear war — KCNA

Kim Jong Un added that negotiations with the US only confirmed the North Korean view that Washington’s hostile policy remains unchanged

Russian servicemen control 30% of Chasov Yar in DPR — expert

According to military expert Andrey Marochko, 10% of the territory is the so-called grey zone

Kremlin clarifies notification process for Oreshnik missile launch

"An automated warning was sent 30 minutes before the launch," Dmitry Peskov said

Ukraine should consider territorial concessions to Russia in return for peace — magazine

Foreign Policy pointed out that Western officials should stop insisting in public speeches on the need to achieve a strategic defeat for Russia

NATO enters conflict, Russia has every right to attack its targets now — expert

Col. (Ret.) Lawrence Wilkerson confirmed to TASS that the launch of ATACMS missiles would be impossible without "US/NATO satellite feeds and/or personnel"

Conflict in Ukraine no longer regional war — German defense minister

Russian President Vladimir Putin said on November 21 that strikes on Russian territory with Western long-range missiles had made the conflict in Ukraine a global one

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Putin’s remarks on hypersonic missiles send serious warning to West — Turkish politician

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Commissioning of Oreshnik and new developments: Putin’s meeting with defense specialists

Here are the key statements, made during the meeting

US, European officials suggest returning nukes to Ukraine — NYT

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West builds up military presence near Russia’s Arctic borders — presidential aide

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Western nations should take Putin's statement seriously, warns Hungarian PM

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According to the politician, Western nations need to understand that they are fighting on Ukraine’s side

Trump’s transition team says Manhattan Case against president-elect discontinued

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Alexander Lukashenko also emphasized that a real information war has been underway for a long time

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The New York Times reported on November 17 that US President Joe Biden had authorized the use of US-supplied ATACMS tactical ballistic missiles for strikes inside Russia

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Russia entitled to use weapons against military sites of states attacking it — Duma

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Europe unable to wage war attrition on Russia — Ukraine’s ex-commander-in-chief

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"A large-scale investment program for expanding production capacities at defense sector organizations is being implemented", Vasily Tonkoshkurov said

Russia encircles largest Ukrainian fortification in southern DPR — security services

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Top stories from the Russian press on Friday, November 22nd

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Western countries should 'be afraid, tremble' after Putin's statement — lawmaker

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Eliminating best enemy units: Defense Minister visits special op area

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Trump to tap Richard Grenell as US special envoy on Ukraine — agency

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US missile defense base in Poland long among Russian army’s targets — Foreign Ministry

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Russian embassy warns UK about dangers of calling for Moscow’s ‘defeat’

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BRICS partnership format in UNESCO sparks interest of other countries — Russian envoy

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US to impose export restrictions against up to 200 Chinese firms — agency

According to Reuters, the Commerce Department plans to publish the new regulations "prior to the Thanksgiving break"

Gazprombank’s UnionPay cards no longer serviced in several countries

Biden’s actions on Ukraine meant to 'muck things up' for Trump — Lavrov

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Russian ambassador says UK prime minister doesn’t understand situation in Ukraine

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Russian military to warn Ukrainian civilians of future Oreshnik attacks — Kremlin

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