France is under growing pressure to release Telegram CEO Pavel Durov after the United Arab Emirates (UAE) reportedly suspended a $10 billion contract to purchase fighter jets from France. The UAE’s decision comes in response to Durov's unexpected arrest, with the UAE government also urging France to provide immediate consular services to assist in his release.
UAE Suspends $10 Billion Jets Deal with France
On August 28, reports surfaced that the UAE had taken additional measures to secure consular support and facilitate the release of Pavel Durov, who was detained under controversial circumstances. The suspension of the $10 billion fighter jets order marks a significant escalation in the UAE's efforts to pressure France into addressing its concerns over Durov's detention.
The move to halt the jets order has strained relations between the UAE and France, with reports suggesting a temporary freeze on military cooperation between the two nations. This development raises serious questions about the future of their bilateral relationship.
In addition to suspending the jets order, the UAE foreign ministry formally requested that France provide Durov with the necessary consular assistance. This support would enable Durov to receive legal and other essential help, potentially expediting his release from police custody.
Will France Release Pavel Durov?
France is now facing mounting international pressure from countries such as the UAE and Russia to release Pavel Durov. The call for his release is also gaining momentum among tech industry leaders, celebrities, and political figures, who are raising concerns about free speech and authoritarianism.
French President Emmanuel Macron has responded to these pressures, asserting that France remains committed to freedom of expression, innovation, and entrepreneurship. He emphasized that Durov's arrest was part of an ongoing judicial investigation, not a politically motivated decision.
Toncoin Price Outlook Amid Potential Release
Despite a market-wide selloff and a blockchain outage, Toncoin (TON) has seen only a slight decline, down 1% in the past 24 hours, with the price currently at $5.34. The 24-hour trading range has been between $5.15 and $5.63, while trading volume has dropped by 28%, indicating waning interest among traders.
According to data from Polymarket, there is a 71% chance that Durov will be released from police custody by September 30, with a 38% chance of release by September 15. The likelihood of his release appears to have increased following the UAE's intervention.
If Durov is released, it could have a positive impact on Toncoin's price, potentially leading to a rally in September as the market reacts to the news.
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