Russia Ignores the 30-Day Ceasefire, and Hopes for Peace Fade
March 13, 2025, 2:51 pm

Russia Ignores the 30-Day Ceasefire, and Hopes for Peace Fade

زيلينسكي وبوتين \ تعبيرية \ متداول

As the world awaits Russia’s reactions to the American proposal for a temporary ceasefire of 30 days in Ukraine, Moscow’s response has come directly from Russian presidential aide Yuri Ushakov, who described the proposal as offering no advantages for his country.

Despite this, the Kremlin announced that President Vladimir Putin will determine Russia's official stance on the ceasefire in Ukraine. For his part, Ukrainian President Volodymyr Zelensky stated that the lack of a "serious" response from Moscow indicates that the Kremlin prefers to continue fighting. In a statement, Zelensky noted that the absence of positive reactions demonstrates that Russia seeks to prolong the war and delay peace for as long as possible.

This came following Ushakov's remarks, in which he confirmed that he informed U.S. National Security Advisor Mike Waltz of the necessity to reach a long-term settlement for the Ukrainian conflict. He also clarified that Russia hopes its demands regarding the ceasefire will be met and that it does not wish for the ceasefire to be merely a break for Ukrainian forces, according to the TASS agency.

On another front, Kremlin spokesperson Dmitry Peskov indicated that Putin might address the ceasefire issue during his meeting with Belarusian President Alexander Lukashenko.

In a separate development, Zelensky issued a warning via a video on social media platforms, cautioning against the dangers of Moscow’s manipulation and deceitful actions. He emphasized the importance of having security guarantees, warning against being misled by Russia in its peace efforts.

The Ukrainian delegation had expressed its readiness to agree to a comprehensive ceasefire for 30 days, provided that Moscow reciprocated that gesture. Following this, the U.S. administration lifted the temporary suspension on arms deliveries to Kyiv, in response to what it described as a goodwill gesture.

While the Kremlin did not confirm whether Russia had provided the United States with a list of demands related to the Ukraine deal, Peskov stated that Washington had provided Russia with accurate information regarding the ceasefire proposal. Nevertheless, he emphasized that the regions included as Russian territories are considered by the constitution to be parts of Russia, describing this as an "undeniable reality."

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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.