French President Emmanuel Macron and Ukrainian counterpart Volodymyr Zelenskyy on Monday agreed for Kyiv to acquire up to 100 Rafale fighter jets from companies in France, the presidency in Paris said.
The agreement was intended "to equip the Ukrainian army of tomorrow with its own airspace defence capabilities", Mr Macron said at a press conference with Mr Zelenskyy in Paris. "Remember, almost four years ago, President Zelenskyy's first request was precisely to preserve his airspace."
The deal extends over a timeframe of 10 years starting next year, with the delivery of Dassault-made Rafale jets expected to come in its second stage. The first three years will be dedicated to the delivery of drones and precise-guided munitions. Ukraine is also set to receive eight SAMP/T air-defence systems.
"It is a historic agreement and we greatly appreciate France's support in achieving guaranteed security in Europe," Mr Zelenskyy said.
He added that because Ukrainian pilots had already been trained on Mirage 2000 fighter jets – also produced by Dassault – it would take them less than a year to acquire skills for the Rafale jets.
Earlier in the day, the two leaders signed the letter of intent at Villacoublay airbase near Paris after a closed-door meeting with French weapons companies. The briefing was about the Rafale jet, the SAMP-T air defence system, GF 300 radars and drone systems, said the Elysee Palace, seat of the French government.
During the signing ceremony, French military equipment had been laid out for display for Mr Zelenskyy and his team on the airport tarmac, including the Rafale jet. Firm sales agreements are expected be made only when contracts are finalised between Ukraine and French manufacturers.
Sales of Rafale jets are for France a source of national prestige as it seeks to lead European military sales in the face of US competition. In January, the UAE received its first batch of French fighter jets under a $17.31 billion defence deal.
Mr Zelenskyy and Mr Macron are expected to also attend a forum at the Elysee on the joint production of drones.
The visit of the Ukrainian President is part of a brief tour of western allies. Mr Zelenskyy sealed an energy deal with Greece on Sunday and is set to visit Spain on Tuesday. Speaking on X before he headed to Paris, Mr Zelenskyy promised a "significant strengthening" of Ukraine's "combat aviation, air defence and other defence capabilities."
Asked how the deals would be financed, Mr Macron gave few details. "The duration of funding will depend on the deployments and will use shared mechanisms," he said. Political and budgetary instability in Paris have raised questions over how much the country can do, while Ukraine alone cannot afford such purchases.
Some equipment is expected to be financed by European mechanisms set up to support Ukraine. Another option is using funds derived from Russian assets frozen in Europe. This necessitates an EU-wide agreement that has been under discussion for months and has stumbled on worries in Belgium, which houses most of the assets, that it will expose itself to Russian lawsuits in international courts.
In the past three years, Europe has allocated €177 billion ($205.3 billion) to Ukraine, while the US has contributed €114.6 billion, the Kiel Institute in Germany has said.
European capitals have also been concerned by a fresh corruption scandal in Ukraine involving energy companies and members of the government. The alleged ringleader of the money-laundering scheme, Timur Mindich, is reported to be close to the President. Mr Macron said he was confident that his Ukrainian counterpart could improve Ukraine's anti-corruption track record.
Speaking Saturday, France's Minister of Europe and Foreign Affairs, Benjamin Haddad, said governments had to be "extraordinarily vigilant" about corruption, as Ukraine presses its case to join the EU.
EMIRATES'S%20REVISED%20A350%20DEPLOYMENT%20SCHEDULE
%3Cp%3E%3Cstrong%3EEdinburgh%3A%3C%2Fstrong%3E%20November%204%20%3Cem%3E(unchanged)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBahrain%3A%3C%2Fstrong%3E%20November%2015%20%3Cem%3E(from%20September%2015)%3C%2Fem%3E%3B%20second%20daily%20service%20from%20January%201%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EKuwait%3A%3C%2Fstrong%3E%20November%2015%20%3Cem%3E(from%20September%2016)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMumbai%3A%3C%2Fstrong%3E%20January%201%20%3Cem%3E(from%20October%2027)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAhmedabad%3A%3C%2Fstrong%3E%20January%201%20%3Cem%3E(from%20October%2027)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColombo%3A%3C%2Fstrong%3E%20January%202%20%3Cem%3E(from%20January%201)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMuscat%3A%3C%2Fstrong%3E%3Cem%3E%20%3C%2Fem%3EMarch%201%3Cem%3E%20(from%20December%201)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ELyon%3A%3C%2Fstrong%3E%20March%201%20%3Cem%3E(from%20December%201)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBologna%3A%3C%2Fstrong%3E%20March%201%20%3Cem%3E(from%20December%201)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cem%3ESource%3A%20Emirates%3C%2Fem%3E%3C%2Fp%3E%0A
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
COMPANY%20PROFILE
%3Cp%3ECompany%20name%3A%20CarbonSifr%3Cbr%3EStarted%3A%202022%3Cbr%3EBased%3A%20Dubai%3Cbr%3EFounders%3A%20Onur%20Elgun%2C%20Mustafa%20Bosca%20and%20Muhammed%20Yildirim%3Cbr%3ESector%3A%20Climate%20tech%3Cbr%3EInvestment%20stage%3A%20%241%20million%20raised%20in%20seed%20funding%3Cbr%3E%3C%2Fp%3E%0A
ABU%20DHABI'S%20KEY%20TOURISM%20GOALS%3A%20BY%20THE%20NUMBERS
%3Cp%3EBy%202030%2C%20Abu%20Dhabi%20aims%20to%20achieve%3A%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%2039.3%20million%20visitors%2C%3C%2Fstrong%3E%20nearly%2064%25%20up%20from%202023%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%20Dh90%20billion%20contribution%20to%20GDP%2C%3C%2Fstrong%3E%20about%2084%25%20more%20than%20Dh49%20billion%20in%202023%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%20178%2C000%20new%20jobs%2C%3C%2Fstrong%3E%20bringing%20the%20total%20to%20about%20366%2C000%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%2052%2C000%20hotel%20rooms%2C%3C%2Fstrong%3E%20up%2053%25%20from%2034%2C000%20in%202023%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%207.2%20million%20international%20visitors%2C%3C%2Fstrong%3E%20almost%2090%25%20higher%20compared%20to%202023's%203.8%20million%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%203.9%20international%20overnight%20hotel%20stays%2C%3C%2Fstrong%3E%2022%25%20more%20from%203.2%20nights%20in%202023%3C%2Fp%3E%0A
Business Insights
- Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
- The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
- US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
Killing of Qassem Suleimani
Read more about the coronavirus
Killing of Qassem Suleimani
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
More from Neighbourhood Watch:
More on animal trafficking
The Florida Project
Director: Sean Baker
Starring: Bria Vinaite, Brooklynn Prince, Willem Dafoe
Four stars
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million