News Wire | Europe Archive

Russia’s Central Bank Makes Huge Interest Rate Hike to Try to Prop Up Falling Ruble

By Dasha Litvinova and David McHugh | Associated Press

Russia’s central bank made a big interest rate hike Tuesday, an emergency move designed to fight inflation and strengthen the ruble after the country’s currency reached its lowest value since early in the war with Ukraine.

More from WPR: Can Putin Change Russia’s Role From Spoiler to Global Power?

Twenty-Two Russian Diplomats Leave Moldova as Relations Slide

Reuters

Twenty-two Russian diplomats flew out of the Moldovan capital of Chisinau on Monday, leaving behind a skeleton staff as relations between the two countries deteriorated after Moldova last month ordered Moscow withdraw most of its delegation.

More from WPR: Moldova Could Be the Next Flashpoint in Europe’s Standoff With Putin

Latvian Prime Minster Announces Resignation

Deutsche Welle

Latvian Prime Minister Krisjanis Karins on Monday said he would resign later in the week, along with the rest of his government. Karins is reportedly hoping an election will help him reconfigure the government after current coalition partners rejected his proposed Cabinet reshuffle.

Ukraine Neighbor Romania Readies $6.5 Billion F-35 Jet Purchase

By Andra Timu and Irina Vilcu | Bloomberg

Romania is poised to sign a $6.5 billion contract to upgrade its air force with US-made F-35 aircraft, the Black Sea nation’s biggest such deal to date as Russia’s war with Ukraine rages on the other side of the border. Defense Minister Angel Tilvar said the government is awaiting parliamentary approval for the acquisition of 32 Lockheed Martin Corp.-made fighter jets along with logistics equipment, training and ammunition.