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Russians Outside of Russia

The images of Ukrainian women and children fleeing in their millions across the country’s borders in the early stages of the invasion told the world the human cost of the fight. Today, nearly eight months in images of a different kind of exodus are dominating the airwaves.
A staggering number of at least 200,000 Russians have left the country in the week since President Vladimir Putin announced a partial military mobilization. This is in addition to the 200,000 or so who’d left by the middle of March. Early moment of largely Russian men it seemed failed to stand in contrast to the Ukrainian civilian flight, but with the direction of events now firmly against Moscow the number choosing to leave their motherland is an important metric of domestic support for the campaign.
There is a disconnect between the official numbers of Russian soldiers killed or injured and the reality, a number that may endure the state-controlled media but is surely known by the population at large. They know the dangers of the now fluid front line in Ukraine, where Russia’s supposedly elite divisions have been routed and forced to flee leaving their tanks and armoured personnel carriers to be captured by the Ukrainians.
They will also likely know the stories of how unprepared so much of the Russian invasion force was. How so many were lied to about going on training exercises, let alone not having the body armour or materials needed to protect or sustain themselves for more than the initial week of fighting.
Russians may know how there may be a disconnect between a ‘partial’ mobilisation in theory and in practice. Just as there is a difference between a ‘special military operation’ and a ‘war’. Certain Russian minorities seem to be overly represented in the call up with reports of entire villages being summoned on Russia’s fringes.
Meanwhile certain sectors and more footloose individuals find it easier to flee. In the tech sector alone, an estimated 50,000 to 70,000 professionals left in the first month of the war, with a further 70,000 to 100,000 expected to follow soon thereafter, according to a Russian IT industry trade group. Whatever Russia emerges when this conflict eventually ends may comprise of a quite different demographic.
Those who’ve left have a harder role to play reidentifying themselves despite having left so much behind and having the added stigma of simply being Russian in parts of the world that have come down on Ukraine’s side in the fight. Yet many national identities have been heavily influenced and shaped by those living outside its borders for a time, the Palestinian and Iranian leaderships spring to mind, and considering the numbers of Russians who’ve left and may continue to leave it adds to a burgeoning Diaspora.
Many of more established Russian Diaspora may find themselves pressured to answer “Putin or democracy” as reports from Latvia seem to suggest. Indeed, questions as to minority rights to Russian language speakers, certainly less of an issue prior to the invasion, have become a important political issue as various governments look to ensure groups are ‘integrated’ and that Moscow can’t use coming to their defence as a pretext for military aggression.
Those European countries either directly playing host or allied to those countries who are playing host to Russians should push for the warm acceptance of those fleeing their own country due to the Ukraine conflict and its associated fallout. Finding ways to turn Russia’s ‘brain drain’ into a source of growth and innovation is particularly important. Highlighting that European states and their populations are not in fact ‘anti-Russian’ but rather anti the policies coming from the Kremlin, undermines one of the fundamental tenants of Putin’s vision and sows the seeds for a future rapprochement between societies.
More unlikely is that Russia’s scattered and newly arrived quasi refugees organise themselves politically. President Putin has form when it comes to forcing political rivals abroad where they lose legitimacy and salience, but that has always been politicians looking to leverage power inside Russia as opposed to organise Russians outside of the country. It is certainly one to watch.
BY: James Denselow
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BENEFIT AGM approves 10%...
- March 27, 2025
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.
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