Zelensky says Iran's aid to Russia is prolonging the war
November 7, 2022, 7:01 am

Zelensky says Iran's aid to Russia is prolonging the war

Russia launched 84 cruise missiles and 24 drones all across Ukraine on Oct. 10, with an average total value of $400-700 million - Photo. Euromaidan Press

Ukrainian President Volodymyr Zelensky criticized in his daily video address on Sunday evening (Nov 6) Iranian arms supplies to Russia.

Russia has launched a series of drone attacks across Ukraine in recent weeks, striking vital civilian infrastructure and sowing terror in Ukrainian cities far from the frontlines of the war. Ukrainian officials said last week that they had shot down more than 300 Iranian drones.

Self-detonating drones have played a significant role in the conflict since Russia launched its invasion in late February. They are capable of circling for some time in an area identified as a potential target and striking only once an enemy asset is identified.

"Iran supports Russia's terrorist regime and helps prolong the war and therefore prolongs the threats to the world created by Russia's war of aggression," said Zelensky .

Without Tehran's support for Moscow, Ukraine "would already be closer to peace," the Ukrainian leader said.

Without Tehran's interference, a solution to the global food crisis or the energy crisis would also be more tangible, Zelensky said. "Whoever helps Russia to prolong this war must also take responsibility for the consequences of this war."

Tehran admitted only on Saturday (Nov 5) to having supplied drones to Russia but spoke of only a few specimens. Zelensky then accused Tehran of lying.

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The statement by Iran’s foreign minister Hossein Amirabdollahian comes after previous denials by Tehran that it had supplied Russia with weapons for use in Ukraine, saying it “has not and will not” do so. Amirabdollahian did not say if the drones that were supplied to Moscow were the type that carry explosives.

“Some western countries have accused Iran of helping the war in Ukraine by providing drones and missiles to Russia. The part regarding missiles is completely wrong. The part about drones is correct, we did provide a limited number of drones to Russia in the months before the start of the war in Ukraine,” Amirabdollahian told reporters in Tehran.

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Officials from a western country that closely monitors Iran’s weapons program told CNN that Iran is preparing to send more attack drones, along with surface-to-surface short-range ballistic missiles, to Russia to use in its war against Ukraine.

The last shipment of weapons from Iran to Russia included about 450 drones, officials said, which the Russians have already used to deadly effect in Ukraine.

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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.