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Russia's deputy foreign minister criticized the American resolution not to rejoin Open Skies arms control pact

Russian deputy Foreign Minister Sergei Ryabkov arrives for a meeting with U.S. special envoy Marshall Billingslea in Vienna, Austria June 22, 2020. REUTERS/Leonhard Foeger
Reuters
Russia said on Friday a U.S. decision not to rejoin the Open Skies arms control pact, which allows unarmed surveillance flights over member states, is a "political mistake" ahead of a summit between the countries' presidents.
The original U.S. decision to quit the pact was taken last year by the administration of U.S. President Donald Trump, but Moscow had hoped his successor Joe Biden would reverse it.
On Thursday, however, the Biden administration informed Moscow that it would not re-enter the pact, accusing Russia of violating it, something Moscow denied.
Sergei Ryabkov, Russia's deputy foreign minister, said on Friday that Washington's move was a missed opportunity to bolster security in Europe.
"The U.S. has made another political mistake, inflicting a new blow to the European security system," TASS quoted him as saying. "We gave them a good chance, which they did not take. They continue circulating fabrications about Russia's violations of this agreement, which is completely absurd."
Separately, Kremlin spokesman Dmitry Peskov said Moscow regretted the U.S. decision, saying the Open Skies accord would lose much of its utility without the participation of Russia and the United States.
Russian President Vladimir Putin and Biden are due to hold a summit in Geneva next month and Ryabkov was cited as saying that the U.S. refusal to rejoin Open Skies did not create an atmosphere conducive to arms control discussions at the summit.
In January, Russia announced its own plans to leave the pact, and the government submitted legislation to parliament this month to formalise its departure.
At that time, a Kremlin spokesman said one reason was that the United States was still able to receive information acquired via the treaty from its NATO allies.
U.S. officials have said Russia has violated the pact's terms by restricting U.S. overflights of Russia's neighbour Georgia and the Russian enclave in Kaliningrad on the Baltic coast. Russia denies committing any violations.
The treaty, which was signed in 1992 and took effect in 2002, allows countries to conduct short-notice, unarmed surveillance flights over the entire territory of other parties and collect information on one another's military forces.
Its objective is to increase transparency and build confidence among countries.
Reuters, May 28, 2021/1:39 PM EEST
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BENEFIT AGM approves 10%...
- March 27, 2025
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.
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