Amid tensions with the West.. Putin hints at expanding nuclear deterrence scope
Putin's statements reflect escalating tension between Russia and the West, which could lead to a radical change in global power balances and increase the risks of nuclear confrontation
September 25, 2024, 11:57 pm

Amid tensions with the West.. Putin hints at expanding nuclear deterrence scope

الحرب الروسية الأوكرانية \ تعبيرية \ متداول

Russian President Vladimir Putin declared today, Wednesday, that there are proposed "clarifications" regarding his country's doctrine for using nuclear weapons, a threat he has repeatedly made since the conflict in Ukraine began.

During a televised meeting with his advisors, Putin indicated the possibility of Russia resorting to the use of nuclear weapons if attacked by any country, adding that any conventional aggression against it supported by a nuclear power would be considered a joint attack.

Putin explained: "It has been proposed to consider an attack by a non-nuclear state, but with the participation or support of a nuclear state, aggression against Russia, as a joint attack on the Russian Federation," in a clear allusion to Ukraine. He also emphasized that Russia reserves the right to use nuclear weapons in case of aggression against it and Belarus as well.

Read also: Ukraine announces destruction of a large number of Russian drones

Putin revealed that Russia will study the "possibility" of using nuclear weapons in case of "intensive launching" of aircraft, missiles, or drones on its territory, at a time when Kyiv is seeking to convince the West to allow the use of long-range missiles in the context of the conflict with Moscow.

Putin added: "We will consider such a possibility if we receive reliable information about the intensive launching of air attack means and their crossing of our state borders. I'm referring to strategic and tactical aviation, cruise missiles, drones, supersonic aircraft, and other aircraft."

Putin's statements came while chairing a meeting of the Russian Security Council today on nuclear deterrence as Moscow considers how to respond to Ukraine's demands that the United States allow it to strike deep into Russian territory with Western long-range missiles.

Putin, who holds the main decision regarding Russia's vast nuclear arsenal, is deliberating how to respond if Washington and its European allies agree to allow Ukraine to use Western-supplied missiles to strike deep into Russia.

The Russian President announced on September 12 that if the West granted such permission to Kyiv, it would have engaged in direct combat against Russia, which would be forced to take "appropriate decisions."

Ukrainian President Volodymyr Zelensky has been urging Kyiv's allies for months to agree to launch Western missiles, such as American long-range ATACMS and British Storm Shadow missiles, deep into Russian territory to limit Moscow's ability to launch attacks.

Russia is considered the world's largest nuclear power. Along with the United States, they dominate 88% of the world's nuclear warheads.

Russia is currently reviewing its nuclear doctrine, which defines the circumstances under which it might resort to using nuclear weapons.

The Kremlin stated that any discussions regarding an alternative to the New START treaty between the United States and Russia, which limits nuclear weapons and expires in 2026, must take into account European nuclear capabilities, meaning the arsenals of Britain and France.

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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.