Poland, Baltic countries to ban entry of Russians with short-term visas as of Monday
September 16, 2022, 3:12 pm

Poland, Baltic countries to ban entry of Russians with short-term visas as of Monday

Moscow will cease to be a party to the European Convention on Human Rights on Sept. 16 - Photo. Pixabay

Starting Monday (Sep 19), Poland, Estonia, Latvia, and Lithuania will ban the entry of Russian citizens holding short-term Schengen visas as part of a regionally coordinated restriction that complements the suspension of the EU's visa facilitation agreement with Russia.

The 27 EU member states officially decided last week to fully suspend the bloc's visa facilitation agreement with Russia following the initiative of Estonia, Latvia, and Finland.

As of Sept. 12, Russian citizens no longer enjoy preferential treatment when applying for a Schengen visa.

In practical terms, they are required to pay a higher fee of €80 ($80) instead of the previous tariff of €35 and can expect a longer waiting time before their case is handled.

Besides the EU-wide decision, Poland, Estonia, Latvia, and Lithuania-all former Eastern Bloc members that share a border with Russia-agreed as a common regional approach to restrict the entry of Russian tourists at their borders to protect national order and security.

Latvia was alternately occupied by Germany and the Soviet Union during World War II. After the war ended, the Baltic state was an unwilling part of the Soviet Union until 1991 - Photo. Pixabay

Under the decision, the border guards of the four countries will stop admitting Russian citizens who hold a short-term Schengen visa, even if the document was issued by another EU member state.

The measures, which enter into force on Sept. 19, are temporary and will exempt dissidents, humanitarian cases, family members, and holders of residence permits, the top diplomats of the four countries said in a statement.

RESTRICTIONS ON VISA PROCEDURE

In February, the EU partially suspended its visa facilitation agreement with Russia, mainly targeting government officials, diplomats, and businesspeople.

British intelligence: Russia lacks infantry and officers in Ukraine

Ordinary Russian citizens started to experience de facto difficulties in applying for EU visas soon after the war broke out, since most EU countries reduced their consular staff in Russia.

An EU-wide visa ban was proposed in August by Estonia, Latvia, and Finland after the call of Ukrainian President Volodymyr Zelenskyy, who asked for increased diplomatic pressure on Moscow.

The initiative was strongly supported by the Czech Republic, which was the first EU country to stop issuing visas for Russian applicants in February, and Poland, which introduced similar measures in April.

Russia's Lavrov granted a visa to attend UN General Assembly

Estonia and Latvia also stopped issuing visas for Russian applicants in August, while Finland cut their number by 90%.

In the end, EU countries failed to agree on an EU-wide blanket ban, mainly because Germany, France, and the European Commission opposed the proposal, arguing that the EU should not cut all the ties with Russian society.

According to European Commission statistics, as of Sept. 1 over 963,000 Russians held valid visas to the Schengen area.

Source: anews

Two police officers in hospital after being stabbed in central London Lebanon to shut banks after string of raids by people taking out life savings

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.