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Slovakia threatens to cut Ukraine electricity | The Express Tribune
Slovakia’s Prime Minister and leader of Smer party Robert Fico. PHOTO: REUTERS
BENGALURU:
Slovakia’s Prime Minister Robert Fico threatened on Saturday to cut off emergency electricity supplies to Ukraine unless Kyiv acts within two days to resume the pumping of Russian oil to Slovakia over Ukraine’s territory, cut off for nearly a month.
Slovakia, along with Hungary, is one of just two EU countries that still rely on significant amounts of Russian oil shipped via the Soviet-era Druzhba pipeline over Ukraine. Both also have leaders that have maintained close relations with Moscow, bucking a largely pro-Ukrainian European consensus.
Russian oil through the main Druzhba pipe has been cut off since January 27, when Kyiv says a Russian drone strike hit pipeline equipment in Western Ukraine. Slovakia and Hungary have become increasingly vocal this week in demanding it resume.
Slovakia, meanwhile, is also a major source of European electricity for Ukraine, needed as Russian attacks have damaged its grid. Energy sector experts say Slovakia provided 18% of record-setting Ukrainian electricity imports last month.
“If oil supplies to Slovakia are not resumed on Monday, I will ask SEPS, the state-owned joint-stock company, to stop emergency electricity supplies to Ukraine,” Fico said in a post on X.
Ukraine has proposed alternative transit routes to ship oil to Europe while emergency pipeline repair works are under way. In a letter seen by Reuters, the Ukrainian mission to the EU proposed shipments through Ukraine’s oil transportation system or a maritime route, potentially including the Odesa-Brody pipeline linking Ukraine’s main Black Sea port to the EU.
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Payment lags can help curb digital fraud: RBI – The Times of India
MUMBAI: Some friction, long viewed as a flaw in digital payments, is now being seen as a feature. An RBI discussion paper proposes to introduce a short delay, or “lag”, for high-value transfers above Rs 10,000. This gives customers time to rethink a transaction and cancel it if they suspect fraud. Customers may also be allowed to whitelist trusted payees so that genuine payments are not delayed.Another proposal is to provide stronger protection to vulnerable users such as senior citizens by requiring an additional confirmation from a “trusted person” for large transactions above Rs 50,000. The paper also suggests a “kill switch” to instantly block all digital transactions in case of suspected fraud.Banks are expected to identify suspicious transactions in real time and seek reconfirmation from customers before processing them. They will need to build systems to implement delays, allow cancellations, and generate risk alerts. Banks are also expected to tighten due diligence by linking the level of activity in an account to the customer’s profile. For instance, accounts with low verified income may face limits on how much money they can receive unless additional checks are completed. A key finding is that most frauds now are the result of human vulnerability. The growth of digital payments has amplified this risk.
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