In an ominous sign for its arms export industry, Russia canceled a major air show for the first time in 30 years. The Kremlin says the cancellation is a response to escalating security threats. And while this concern is legitimate to some extent, there's more going on here than fear of Ukrainian saboteurs.
Still, there's no question that this cancellation is a big loss for the Kremlin. Russia's arms export industry has long been a point of key pride for Vladimir Putin. The Russian leader sees this industry as a marker of his personal prestige and of Russia's continued relevance as a global military power. He has personally attended previous MAKS shows.
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EU Spokesperson: Russian Banks Will Not Be Reconnected to SWIFT Anytime Soon – Finance Bitcoin NewsIn a recent interview EU spokesperson for external affairs Peter Stano remarked that SWIFT sanctions could not be lifted or softened until the Russia-Ukraine conflict ended.
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