Switching over to EU trade standards will cost Ukraine €165 billion over the next 10 years, Russian President Putin warned at a meeting with President Petro Poroshenko in Minsk on Tuesday. Moscow has long warned Kiev that signing the Association Agreement (AA) with the EU would be economic suicide, whereas Moscow is also poised to suffer a €2 billion blow, according to Putin. [...]

Russian and Ukrainian leaders have concluded their first official face-to-face meeting in Minsk during which they discussed Ukraine's Association Agreement with EU and the crisis and humanitarian disaster in the east of the country. Russia will do everything to facilitate a peace process in Ukraine, President Putin told the press following the 2-hour talks, which he described as “positive.” [...]

Traveling from Shanghai to San Francisco in under two hours may sound like a fantasy, but China believes it's figured out how to design an underwater vehicle that can make the idea a reality. More worryingly, though, is the possibility that the technology will be used to develop even more dangerous weaponry. [...]

As much as Iran, Russia, the US and the EU are involved in a sophisticated nuclear/energy ballet, Syria and Ukraine are also two key power play vectors bound to determine much of what happens next in the New Great Game in Eurasia. And both Syria and Ukraine also happen to be energy wars. The Obama administration’s Syria master plan was ‘Assad must go’; regime change would yield a US-su [...]

Russian President Vladimir Putin has arrived in Minsk for talks with the leaders of the member states of the Eurasian Customs Union, Ukraine and representatives of the EU. Putin could also hold a bilateral meeting with Petro Poroshenko, the Kremlin said. Putin and Poroshenko greeted each other with a handshake as they met in the Belarusian capital at the start of talks on the Ukrainian crisis. [...]

Two churches in the Donetsk Region have been destroyed by shelling from Kiev troops, leaving three people dead. In the latest attack Monday, a church was completely destroyed, while on Saturday three worshipers were killed while praying. In Monday’s attack on St. John Kronstadt Orthodox Church on the outskirts of Donetsk, the shelling “caused a fire, and the church was totally burned with i [...]

Divided by mistrust and mutual recriminations, the Russian and Ukrainian leaders will hold rare talks on Tuesday that offer only a slim hope of progress towards ending five months of separatist war in Ukraine. Since Vladimir Putin and Petro Poroshenko last met on June 6 in France, Ukraine has turned the tide of the conflict and largely encircled pro-Russian rebels holding out in two cities in t [...]

"Stunningly destructive" and "dismal failure" is how Nobel laureates describe growth in the European Union after destructive austerity policies and the euro crisis. Economists are casting doubt on the effectiveness of monetary policy in the 18-member eurozone, which is yet to fully shake off recession and produce sustained growth. [...]

Russia doesn't want to escalate tit-for-tat sanctions with the West, but is ready to do whatever is necessary to protect its legitimate interests, including those of national security in all its dimensions, Russia's FM told The Daily Telegraph. Peace in Ukraine can only be attained through a broad national dialogue that includes all regions and its terms cannot simply be dictated by a “govern [...]

Following revelations of America's National Security Agency's global internet surveillance system, combined with a desire to enhance domestic production, China is beating a path towards unveiling its own operating systems in October. The Chinese-made substitutes would first be introduced on desktop devices, later expanding to include smartphones and other hand-held devices, Ni Guangnan heads an [...]

The Fitch ratings agency has downgraded Ukraine one step closer to default grade, as the Ukrainian currency the hryvnia hits a record low, and the economy balances on the brink of a collapse. Fitch cut the long-term local currency Issuer Default Rating (IDR) of Ukraine from B-,signifying a default risk, to CCC, where default is a real possibility, and affirmed its long-term foreign currency IDR [...]

With heavy fighting underway in south-eastern Ukraine, the distribution of humanitarian aid from Russia has started in the city of Lugansk, which is besieged by the Kiev forces. The first 12 points distributing food have already begun working. The minimum offering includes rice, buckwheat and sugar, three canned meats, a packet of tea and 10 liters of water, Novorossiya news agency reports. [...]

Ukrainian president, Petro Poroshenko, has made the decision to dismiss the country's parliament, the Verkhovna Rada, a message on his official Twitter account says. The decision comes because “the majority of the MPs voted for dictator-style laws,” which cost the lives of Maidan activists, RIA Novosti news agency reports citing Poroshenko's spokesman. [...]

Russian Foreign Minister Sergey Lavrov has announced plans for a second humanitarian convoy to be sent to eastern Ukraine, urging foreign actors and agencies to participate in continuing efforts at relieving the crisis. Failure to do so would constitute a violation of international law, he warned. [...]

The French government has resigned despite being formed just 4 months ago. They quit after ministers slammed President Francois Hollande's plans for taxation and cuts, while also being critical of Germany's austerity program. The statement published on Monday said the new office would be formed on Tuesday and would be in the "direction he (the president) has defined for our country." [...]

Whether buying bread, filling a pharmacy prescription, getting a haircut or going to the doctor, some residents of Montreuil, France, are rejecting the euro in favor of "La Peche", a local community currency. In France, local currencies are growing in popularity as trust in state institutions erodes. An elaborate coupon system lets locals pay for services and goods with special local banknotes, [...]

German foreign intelligence agency has been tapping Turkey for almost four decades, reports Focus amid the ongoing spy scandal between Berlin and Ankara. Some German officials defend the practice, saying that not all NATO allies can be treated as friends. The German Federal Intelligence Service, BND, has been eavesdropping on Turkey since 1976 following the Social Democrat Chancellor Helmut Sch [...]

After sustained defensive combat against Ukrainian troops in the self-proclaimed People’s Republic of Donetsk during August, rebels are now reporting of entrapping two large groups of Kiev troops and seizing military hardware in a counteroffensive. The main headquarters of the DPR army has made a decision to stop operations in small groups and form full-bodied independent military units, the [...]

The €125 million in emergency EU support to its food producers may not be enough to cover the damage, as some estimates have it more than a hundred times higher. On Monday, the European Commission announced €125 million in emergency funding for European farmers hit by the Russian trade ban [...]

Facebook has been given four weeks to respond to a class action, launched against it by an Austrian activist and supported by 60,000 users. The suit claims Facebook violated users' privacy, by cooperating with the NSA's PRISM program. The class action initiated by Max Schrems, an Austrian lawyer, data privacy activist and founder of Europe vs. Facebook group has passed its first review in the V [...]

Further delays in the delivery of Russian aid to eastern Ukraine, which is facing a humanitarian disaster, would have been unacceptable, President Vladimir Putin has said in a phone call with German Chancellor Angela Merkel. “Given the obvious protractions by Kiev on the issue of the delivery of Russian aid to southeast regions of Ukraine, which are suffering a humanitarian catastrophe, a dec [...]

Moscow has accused Kiev of placing political interests above humanism, adding that it is confident it made the right decision to order a convoy with Russian humanitarian aid to proceed to the conflict zone without waiting for further Ukrainian permission. The Russian aid convoy on Friday finally reached Lugansk in eastern Ukraine, which has been devastated by repeated shelling. White Kamaz truc [...]