Foreign
Will ‘War Profiteer’ Norway Come To Ukraine’s Financial Rescue?
Norway has grown vastly richer after overtaking Russia as Europe’s main gas supplier following the invasion of Ukraine, sparking calls in Oslo for the Scandinavian nation to use its colossal sovereign wealth fund to help Kyiv.
With some in Norway saying their country’s windfall makes it a “war profiteer”, several Norwegian political parties, including allies of the Labour government, are pushing for Oslo to help lift a main obstacle blocking Europe from using frozen Russian assets to help Ukraine financially.
Western nations have frozen billions in Russian assets over Moscow’s 2022 invasion of Ukraine, including approximately 210 billion euros ($243 billion) held in Europe.
Ukraine’s European allies have been using interest from those funds to support Kyiv but are keen to go further by tapping the funds themselves — a proposal some warn carries huge risks, including spooking other foreign nations into pulling their money from the European Union.
That is where Norway comes in. “It is absolutely essential for Europe’s security that Russia does not win its illegal war of aggression,” the head of Norway’s small opposition Liberal Party, Guri Melby, told AFP.
“Norway has the financial means to guarantee a loan that would enable Ukraine to better defend itself against Russia, and I think we should do it,” she said.
The plan goes like this. At a time when many EU member states have strained public finances, the European Commission plans to use part of the frozen Russian assets to give Ukraine a 140-billion-euro loan, interest free, to finance its budgetary and military support over the next two years.
But Belgium, home to the international deposit organization Euroclear, which holds the bulk of the frozen assets, has demanded strict guarantees from other EU countries in order to share the risks in the event, for example, that Russia were to regain possession of its assets.
Some heavily indebted countries, such as France, would have a hard time agreeing to such a demand.
Arguing that Norway, Western Europe’s biggest oil and gas producer, made an extra 109 billion euros from soaring gas prices after Russia’s invasion, two Norwegian economists have suggested their country should step up even though it is not an EU member.
“By hoarding these profits, Norway’s government turned the country into a war profiteer,” the duo, Havard Halland and Knut Anton Mork, wrote in an op-ed last month.
Thanks to its AAA credit rating — the highest awarded by rating agencies — and its sovereign wealth fund, the world’s biggest, valued at around $2.1 trillion, Norway “could singlehandedly take on the contingent liability associated with fresh Ukrainian debt, and without a dent to its credit rating”, they said.
The idea resonated with some European political leaders.
“That would be great,” said Danish Prime Minister Mette Frederiksen during an EU summit in Copenhagen last month.
Norway’s government, which has already earmarked civil and military aid of more than 275 billion kroner ($27.4 billion) to Kyiv over the 2023-2030 period, is proceeding cautiously.
“We are closely monitoring the situation and continuing our dialogue with the European Union,” said finance ministry state secretary Ellen Reitan.
According to AFP’s sources, Norway is in talks with Brussels but has no current plans to provide a single-handed safety net to Kyiv.
Norway’s Greens Party is considering making the issue one of its demands in upcoming budget negotiations with the government, which needs the Greens’ support, among others, to pass its 2026 budget bill.
“Norway is the only country in Europe that has so much money set aside and can allocate such a sum without needing to take on debt or raise taxes,” Greens leader Arild Hermstad told AFP. “And besides, we have made so much money as a result of this war that it is simply a moral obligation.”
Foreign
JUST IN: Mali’s Defence Minister Killed As Army, Rebels Clash
Mali’s Defence Minister, Sadio Camara, has been killed following a wave of coordinated attacks targeting military installations across the country.
Camara reportedly died from injuries sustained during an attack on his residence in Kati, a key military garrison town located about 15 kilometres from Bamako.
The assault, which occurred barely 24 hours before his death, involved a suicide car bomb and formed part of a broader offensive across the country.
The attacks were reportedly carried out by fighters linked to Jama’at Nusrat al-Islam wal-Muslimin, an al-Qaeda-affiliated group, alongside Tuareg rebels from the Liberation Front of Azawad.
According to Al Jazeera, the attackers were able to breach Kati, considered one of the most secure military locations in Mali.
Camara, a key figure in Mali’s military leadership, rose to prominence after playing a central role in the coups of 2020 and 2021 that brought the current junta to power.
Al Jazeera’s Nicolas Haque described his death as significant.
“He was one of the most influential figures within the ruling military leadership… His death is a major blow to the country’s armed forces,” he said.
The coordinated offensive extended beyond Kati, with gunmen attacking several locations including Bamako, Gao, Kidal and Sevare.
“As we speak, people in the garrison town of Kidal can still hear heavy gunfire and loud explosions,” Haque said, adding that the operation remained ongoing more than 24 hours after it began.
The attacks have intensified pressure on Mali’s interim leadership, with analysts suggesting that security forces were overwhelmed by the scale and coordination of the violence.
However, Interim President, Assimi Goita, was reportedly moved to safety and remains in control of the military.
International bodies, including the African Union, the Organisation of Islamic Cooperation, and the United States Bureau of African Affairs, have condemned the attacks and called for urgent measures to restore stability.
Foreign
Tinubu Backs Gulf States Amid Iran/Israel War
President Bola Tinubu has declared Nigeria’s support for countries in the Gulf region following rising tension linked to the ongoing conflict involving the United States, Israel, and Iran.
Naija News reports that he made this known in Abuja during a formal ceremony where he received letters of credence from several foreign diplomats. The event had representatives from countries such as Qatar and Saudi Arabia, alongside envoys from Lebanon, Sudan, Namibia, Rwanda, Somalia, Argentina, and Congo.
During the meeting, the president assured the visiting diplomats that Nigeria stands with nations in the Gulf, including the United Arab Emirates, Saudi Arabia, Qatar, Kuwait, Bahrain, Oman, and Jordan. He praised their calm approach in handling the situation and stressed the need for peace across the region.
Tinubu described the diplomatic gathering as an important step in strengthening Nigeria’s relationship with other countries. He encouraged the envoys to build stronger partnerships with Nigeria that would benefit both sides.
He also spoke about his government’s economic direction, saying efforts are being made to position Nigeria as an attractive destination for investors. He pointed out opportunities in areas like infrastructure, economic growth, and diaspora involvement, inviting the diplomats to explore these sectors.
On regional matters, the president restated Nigeria’s role in the Economic Community of West African States, especially in maintaining democratic order, improving trade among member states, and addressing instability in the Sahel region.
Tinubu further noted that global issues such as climate change, energy challenges, terrorism, and unfair financial systems require countries to work together.
He said Nigeria is ready to cooperate with other nations both directly and through international platforms to promote a safer and fairer global system.
Foreign
BREAKING: Explosions Rock Tehran, Israel Denies Any Role in Mysterious Blasts
According to a report by Telegraph, on Thursday April 23, 2026, Israel’s defence minister has declared the country stands prepared to resume military operations against Iran, but only upon receiving authorisation from the Trump administration, as tensions between the two nations continue to simmer beneath a fragile ceasefire.
The statement came amid fresh alarm in the Iranian capital on [date], after Iranian state media reported that explosions were heard above Tehran and air defence systems were activated across the city. The developments immediately triggered speculation of a new Israeli strike, drawing swift attention from regional observers and international monitors tracking the volatile situation.
However, a source within the Israeli military moved quickly to dismiss those claims. Speaking to Israeli outlet Ynet, the source firmly stated that Israel had not carried out any attacks on Iran, offering a direct contradiction to the wave of concern that had swept through diplomatic circles following the reports from Tehran.
A ceasefire between the two countries has been in effect since April 8, and Israeli officials have so far indicated no public breach of that agreement. Despite this, the defence minister’s earlier remarks have raised serious questions about how durable that truce remains, particularly given its apparent dependency on political decisions emanating from Washington.
The reference to a required “green light” from the Trump administration underscores the degree to which Israeli military calculations are now intertwined with American foreign policy direction. Analysts note that this framing places significant weight on Washington’s posture toward Tehran, effectively making U.S. political will a trigger mechanism for potential renewed hostilities in the region.
Iran has not officially responded to the Israeli defence minister’s statement at the time of reporting. The sounds heard over Tehran, while alarming to residents and regional watchers, remain unexplained by Iranian authorities beyond initial media reports of activated air defences.
The situation reflects the precarious nature of the current ceasefire, with both nations maintaining high military readiness even as formal hostilities remain paused. Observers warn that the combination of unexplained aerial activity and bellicose ministerial language represents a dangerous mix that could rapidly destabilise the existing arrangement.
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