EU split on visa ban for Russia as Kremlin slams 'irrational' call
August 30, 2022, 1:13 pm

EU split on visa ban for Russia as Kremlin slams 'irrational' call

A flag of the European Union can be seen fluttering outside the European commission headquarters in Brussels. (AFP)

Germany and France have issued a joint warning against a ban on tourist visas for Russians, saying such a step, advocated by other European Union member states, would be counterproductive, Reuters reported, the Daily Sabah said.

The split on tourist visas will be at the heart of a meeting of the bloc's foreign ministers in Prague on Tuesday and Wednesday, as they discuss what further steps they can take to sanction Russia for its six-month invasion of Ukraine.

Defense ministers during the meeting in Prague are likely to agree in principle on the less controversial step of organizing joint military training missions for Ukrainian troops.

"We caution against far-reaching restrictions on our visa policy, in order to prevent feeding the Russian narrative and trigger unintended rallying-around the flag effects and/or estranging future generations," France and Germany said in the joint memo seen by Reuters.

EU split on visa ban for Russia as Kremlin slams 'irrational' call - Photo. Pixabay

The bloc's two leading countries argue for close scrutiny of visa applications for security risks, but believe visas should still be issued.

"We must not give up on supporting pro-democratic elements with Russian society," they said. "Our visa policies should reflect that and continue to allow for people-to-people contacts in the EU with Russian nationals not linked to the Russian government.

Moscow says Latvian move to ban Russian language 'discriminatory'

"We should not underestimate the transformative power of experiencing life in democratic systems first-hand, especially for future generations," they added.

Others, in particular eastern and Nordic member states, have argued strongly for a ban.

"It is very provocative to me that you see Russian men on European beaches in Southern Europe and at the same time Ukrainian men between 18 and 60 years cannot even leave their country but have to fight for their freedom," Denmark's Foreign Minister Jeppe Kofod said last week.

Germany rejects calls for EU ban on tourist visas for Russians

"We think it is right that we together in Europe can limit and cut off tourists from Russia and it would send a clear message to (President) Putin."

An EU diplomat said the foreign ministers might agree in principle to suspend a visa facilitation agreement with Russia, which would mean Russians face a longer procedure and pay 80 euros instead of 35 for EU visas, but that divisions over tourism visa bans were too deep for any agreement on that.

Russians mostly enter the EU via the land borders of Estonia, Latvia, Lithuania, Poland and Finland, Lithuanian Foreign Minister Gabrielius Landsbergis said last week, adding that these countries may act on their own if the EU does not agree on a union-wide ban.

Germany, Scandinavian countries fail to agree on tourist visa ban for Russians

Meanwhile, the Kremlin on Tuesday slammed calls by some European leaders for a visa ban on Russian tourists, saying the proposals were "irrational" and the latest manifestation of the West's anti-Russian agenda.

At a meeting in Prague this week, European Union foreign ministers will discuss calls from the Baltic states and some others to stop granting Russians visas for access to the Schengen Zone.

EU foreign policy chief Josep Borrell said he hoped defense ministers would give him the green light to start working on an EU military training mission for Ukraine.

EU presidency backs visa ban for Russian citizens

"A number of EU countries are already hosting training facilitation for Ukrainians but I think it would be good to ... ensure that the EU collectively is doing that in an organised way that can last for some time," Ireland's Foreign Minister Simon Coveney said in Prague.

The Netherlands also backed the idea, saying it was working on de-mining training along with Germany.

Source: dailysabah

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.