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Al Mayadeen's correspondent in Lebanon: Israeli occupation forces carried out an explosion in the southern border town of Kfar Kila
Russian Ministry of Defense: 37 Ukrainian drones destroyed in 4 hours over regions of Russia and the Black Sea.
Sheikh Qassem: Our supporters make up more than half of Lebanon's population, and all of these people are united under the banner of protecting Lebanon, its Resistance, its people, and its integrity.
Sheikh Qassem: There will be no phased handing in of our arms. [The Israelis] must first enact the agreement before we start talking about a defensive strategy.
Sheikh Qassem: Be brave in the face of foreign pressures, and we will be by your side in this stance.
Sheikh Qassem: Stripping us of our arms is like stripping us of our very soul, and this will prompt us to show them our might.
Sheikh Qassem: We will not abandon our arms, for they gave us dignity; we will not abandon our arms, for they protect us against our enemy.
Sheikh Qassem: The US efforts we are seeing are aimed at sabotaging Lebanon and constitute a call for sedition.
Sheikh Qassem: If you truly want to establish sovereignty and work for Lebanon’s interests, then stop the aggression.
Sheikh Qassem: The United States, which is meddling in Lebanon, is not trustworthy but rather poses a danger to it.

Ukraine crisis to affect Eurozone like the pandemic

  • By Al Mayadeen Net
  • Source: Agencies
  • 17 Mar 2022 21:40
  • 1 Shares
2 Min Read

Fitch Ratings says the Russia-Ukraine crisis and the West's sanctions on Moscow will pose growth and fiscal challenges to eurozone states akin to the Covid-19 pandemic.

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  • One particular sting for eurozone states will come from increased imports of LNG  to replace Russian energy supplies
    One particular sting for eurozone states will come from increased imports of LNG to replace Russian energy supplies

The Ukraine crisis and the West's sanctions on Russia will pose fiscal and growth challenges to the sovereign credit status of eurozone states that would not be unlike the COVID-19 pandemic, Fitch Ratings said on Thursday. 

The credit rating agency said that the impact and design of the policy responses to the crisis will be important in assessing the sovereign credit impact. "Like the pandemic, the war is an external shock that will be felt across the bloc and its impact will vary, for example with dependency on Russian gas, or trade linkages." 

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One particular sting for eurozone states will come from the increased imports of liquefied natural gas, in addition to other infrastructure, to replace Russian energy supplies, which these states are planning to phase out over the coming five years.

"The energy market is the main macroeconomic transmission channel via higher prices. Russia accounted for 38% of EU natural gas imports and 23% of oil imports in 2020," Fitch said.

The extent to which growth will be hit will depend on the scale of the disruption, including through energy availability and prices, meaning that the disruption will be greater if energy is rationed.

  • Ukraine crisis
  • Eurozone
  • Europe

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