UK and France Work on Plan to End Fighting Between Ukraine and Russia
March 2, 2025, 1:17 pm

UK and France Work on Plan to End Fighting Between Ukraine and Russia

قميص اوكرانيا

British Prime Minister Keir Starmer confirmed on Sunday that his country and France are collaborating on a "plan to stop the fighting" between Ukraine and Russia, just hours before a critical summit in London with dozens of European officials.

Starmer told the BBC, "The United Kingdom, together with France and possibly one or two other countries, will work with Ukraine on a plan to stop the fighting, and then we will discuss this plan with the United States," according to AFP.

Around 15 leaders of Ukraine’s allied countries are holding an important summit in London on Sunday to discuss new security guarantees for Europe amid fears of potential abandonment by Washington, heightened by a verbal exchange on Friday between U.S. President Donald Trump and Ukrainian President Volodymyr Zelensky.

Ukrainian President Zelensky, greeted warmly by dozens of people gathered outside 10 Downing Street, met with Starmer on Saturday, who reaffirmed the "absolute commitment of the United Kingdom" to support Ukraine in the face of the Russian invasion.

Subsequently, London and Kyiv signed a loan agreement worth £2.26 billion (approximately €2.74 billion) to support Ukraine's defense capabilities, an amount to be repaid from profits from frozen Russian assets.

Zelensky stated on Telegram, "The funds will be used to produce weapons in Ukraine," expressing his "gratitude to the people and government of the United Kingdom."

The summit will notably include French President Emmanuel Macron, German Chancellor Olaf Scholz, Canadian Prime Minister Justin Trudeau, Polish Prime Minister Donald Tusk, Italian Prime Minister Giorgia Meloni, NATO Secretary-General Jens Stoltenberg, and the Presidents of the European Commission and the European Council, Ursula von der Leyen and Antonio Costa.

This comes ahead of an extraordinary European summit on Ukraine scheduled for March 6 in Brussels.

According to Downing Street, discussions in London will focus on "strengthening Ukraine's position today, including ongoing military support and increasing economic pressure on Russia."

Participants will also discuss "the necessity for Europe to play its role in defense" and "the next steps for planning robust security guarantees" on the continent, in light of the risk of U.S. military and nuclear umbrella withdrawal.

Ukraine and Europe are concerned about the rapprochement between Trump and his Russian counterpart, Vladimir Putin.

In a bid to end the war, which the U.S. President refuses to hold Moscow responsible for, Moscow and Washington have initiated negotiations without inviting Ukraine or Europeans to the table.

These concerns do not appear to be easing, especially after the public exchange in the Oval Office between Zelensky, Trump, and U.S. Vice President Jay DeVance on Friday.

The U.S. President threatened his Ukrainian counterpart with abandoning Ukraine if he did not make concessions to resolve the dispute with Russia.

German Foreign Minister Annalena Baerbock responded on Saturday, stating, "A new era of shame has begun... we must defend more than ever the rules-based international order and the strength of law against the law of the strongest."

The German Foreign Minister called on Saturday for easing domestic and European budgetary provisions to provide additional resources to assist Ukraine and bolster European defense.

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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.