Russia says Finnish entry to NATO poses threat to which it will respond
May 12, 2022, 4:14 pm

Russia says Finnish entry to NATO poses threat to which it will respond

National flag of Russia (File photo: Pixabay)

The Channel News Asia reported, citing media outlets, Russia said on Thursday (May 12) that Finland's bid to join NATO was a hostile move that "definitely" posed a threat to its security.

The Kremlin said it would respond but declined to spell out how, saying this would depend on how close NATO moves military assets towards the 1,300km Finnish-Russian frontier.

The Russian Foreign Ministry said Russia would need to take "retaliatory steps, both of a military-technical and other nature, in order to stop threats to its national security arising".

It said: "Helsinki must be aware of the responsibility and consequences of such a move."

FILE PHOTO: Kremlin spokesman Dmitry Peskov attends a joint news conference of Russian President Vladimir Putin and Belarusian President Alexander Lukashenko in Moscow, Russia February 18, 2022. Sputnik/Sergey Guneev/Kremlin via REUTERS

The Finnish move, which Sweden is expected to replicate, confronts President Vladimir Putin with the very outcome he said his war in Ukraine was designed to prevent - a further expansion of NATO to Russia's borders.

Kremlin spokesman Dmitry Peskov told reporters: "Finland joined the unfriendly steps taken by the European Union towards our country. This cannot fail to arouse our regret, and is a reason for corresponding symmetrical responses on our side."

Finland's president and prime minister said earlier on Thursday their country must apply to join the NATO military alliance "without delay".

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Asked whether this presented a threat to Russia, Peskov said: "Definitely. NATO expansion does not make our continent more stable and secure."

Russia's war has led both Finland and Sweden to move towards abandoning their long-held neutrality and seeking the shelter of the alliance's security umbrella.

Asked what form Russia's response would take, Peskov replied: "Everything will depend on how this (NATO) expansion process plays out, the extent to which military infrastructure moves closer to our borders."

Finland and Sweden to begin NATO application in May, local media reports

Former Russian president Dmitry Medvedev, the deputy chairman of the powerful Security Council, has previously spoken about potentially stationing nuclear-armed missiles in the Russian territory of Kaliningrad on the Baltic Sea.

Peskov was also asked about comments from Medvedev on Thursday that increasing military support by the United States and its allies for Ukraine risked triggering a conflict between Russia and NATO, with a potential risk of nuclear war.

Russia would deploy nuclear weapons if Sweden and Finland join NATO

He replied that everyone wanted to avoid a direct clash between Russia and NATO, but also repeated a warning from Putin that Moscow was ready to deal "the most decisive response" to anyone who tried to interfere with what it calls its special military operation in Ukraine.

Source: cna

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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.