London : CNN
Russia is seeking an unfathomable sum of money from one of the world’s biggest tech companies.

Google reportedly owes the Kremlin more than 2 undecillion rubles — a 2 followed by 36 zeroes — after refusing to pay fines that are now accruing for blocking pro-Russian channels on YouTube.

The virtually unpronounceable penalty amounts to $20 decillion — or around $20 billion trillion trillion. That dwarfs the size of the global economy.

At $110 trillion, according to International Monetary Fund figures, world gross domestic product looks modest in comparison. Google parent Alphabet, meanwhile, has a market value of around $2 trillion.
Russian state media TASS reported this week that a Russian court had earlier ordered Google to restore the YouTube channels — several of which have been blocked since 2022 — or else face mounting charges, with penalties doubling every week.

Asked about the lawsuit during a call with reporters Thursday, Kremlin spokesman Dmitry Peskov admitted that he “can’t even pronounce this figure right” but said that the eye-watering sum was “filled with symbolism.” Google “should not be restricting the actions of our broadcasters on its platform,” he added.
CNN has contacted Google for comment. In quarterly earnings published this week, the company referred to “ongoing legal matters” relating to its business in Russia.

“Civil judgments that include compounding penalties have been imposed upon us in connection with disputes regarding the termination of accounts, including those of sanctioned parties,” Google said. “We do not believe these ongoing legal matters will have a material adverse effect (on earnings).”

Following Russia’s full-scale invasion of Ukraine, Google curtailed operations in the country but stopped short of pulling out altogether, in contrast with several other American tech companies. Many of its services, including Search and YouTube, continue to be available in the country.

Months after the invasion, Google’s Russia subsidiary filed for bankruptcy and paused most of its commercial operations after the government seized control of its bank accounts.

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Russia is set to lift its Bitcoin mining ban on November 1, 2024, but this comes with new regulatory requirements. All Bitcoin miners will need to register with Russia’s Federal Tax Registry and provide details of their equipment models and wallet addresses for government monitoring. This ban, initially imposed in early 2022, primarily targeted large-scale Bitcoin mining operations in Russia, particularly in areas with low electricity costs. The ban aimed to prevent excessive energy consumption and reduce grid strain, especially in economically weaker or energy-scarce regions.

Why is Russia Lifting the Mining Ban?
In mid-October, at the BRICS Business Forum in Moscow, Russia’s sovereign wealth fund partnered with data center operator BitRiver to establish Bitcoin mining and AI computing facilities within BRICS countries. These regions often have limited IT infrastructure but abundant unused electricity resources. By leveraging Bitcoin mining, Russia can effectively utilize this surplus energy, modernizing infrastructure in these countries while generating economic revenue. This dual-purpose approach not only extends Russia’s international influence but also provides a direct income boost to its treasury.

Geopolitical factors are another reason for lifting the ban. Many countries globally are concerned about U.S. fiscal policies and are looking for ways to bypass them. As highlighted by Sigel in a CNBC interview, “There’s tremendous urgency outside of the U.S. to find a way to circumvent the irresponsible fiscal policy that we’ve been running in the U.S.” This policy shift could allow Russia and its allies to explore economic independence from the U.S. financial system.

Potential Impact of Lifting the Ban
Lifting the ban may have several effects on Russia and the global Bitcoin market:
1. More Globalized Hashrate Distribution: Currently, much of Bitcoin’s hashrate is concentrated in the U.S. Russia’s move could decentralize this concentration, benefiting Bitcoin’s security and stability.
2. Reuse of Older Equipment: In regions with higher energy costs, older mining equipment may no longer be profitable. Russia’s low electricity rates could provide a second life for these machines, extending their use.
3. Pressure on Electricity Prices: Lifting the ban does not guarantee smooth implementation. With rising electricity costs and a devalued ruble, increased mining activity could further strain local energy prices. The Russian government will need to balance supply and demand carefully to avoid overburdening its energy infrastructure.
4. Support for the Global Market: The entry of new mining players could bring positive market feedback and boost confidence. For BRICS nations, this move may encourage the adoption of Bitcoin as a reserve asset or transaction medium, promoting more diverse economic practices in the region.

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Russian authorities are stepping up their focus on illegal cryptocurrency mining in households, with a recent arrest in Novosibirsk of a man running large-scale mining activities without permission. This crackdown comes as Russia intensifies monitoring of energy consumption and regulating crypto mining in Siberian regions. Law enforcement reports that the miner used subsidized electricity to power his equipment and allegedly profited over 12 million rubles (around $123,000).
Novosibirsk Tightens Actions Against Crypto Mining
The arrest of a miner in Novosibirsk highlights a stricter stance against unauthorized use of electricity for home cryptocurrency mining. The regional Ministry of Internal Affairs, led by Deputy Chief Kirill Travin, identified violations of local power regulations and initiated criminal proceedings.
During a raid in the Moshkovsky District, authorities reported six administrative violations linked to mining activities. The arrested miner allegedly used the regional energy infrastructure for mining digital assets, prompting authorities to act as similar activities in households continue to grow.
According to regional sources, the miner profited approximately 12 million rubles through subsidized electricity use, reigniting calls for stricter regulations. Although the specific cryptocurrency mined remains unknown, speculation suggests it could be Ethereum (ETH). Similar cases of illegal mining have also been reported in Irkutsk and Buryatia.
New Legislation to Limit Home Crypto Mining
A new law, set to take effect on November 1, aims to restrict “private cryptocurrency mining” and enforce stricter compliance with local power limits for domestic miners. Recently introduced by President Vladimir Putin, this law marks another step in Russia’s efforts to restrict small-scale mining operations.

While the new law provides clearer guidelines for household miners, legal uncertainties remain, potentially creating ambiguity for smaller miners regarding their status.
Energy Providers Target Unauthorized Miners
In response to increased electricity consumption in regions like Novosibirsk, energy providers are intensifying efforts to identify and penalize unauthorized crypto miners. Reports indicate that “illegal” mining operations have been discovered in residential buildings, remote forests, and even near city facilities, such as landfills and wastewater treatment plants.
Amid rising tensions between local authorities and miners using subsidized residential energy, some miners are adopting new methods to avoid enforcement. On the Siberian front, “mobile crypto mining farms” installed in vehicles have gained popularity, allowing small-scale miners to stay mobile and circumvent regulations.
Russia’s Plans to Tax Industrial Miners
Russian lawmakers are also considering a new tax targeting industrial mining companies, potentially generating significant revenue for the state. This proposed tax highlights Russia’s shift towards integrating crypto mining within a regulated framework, allowing the government to monitor and benefit from the emerging crypto industry.

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In an effort to bypass Western sanctions, Russia is increasingly considering cryptocurrency for international trade. The effectiveness of this strategy, however, will largely rely on whether key allies like China, Iran, and India are willing to adopt and support this approach.
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Disclaimer: This summary reflects recent developments in international trade and finance. It is for informational purposes only and not financial or legal advice.

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In a an interview, Foreign Minister Sergey Lavrov cautioned the US against overstepping Russia’s ‘red lines’ regarding the Ukraine conflict. Lavrov highlighted Washington’s diminishing sense of mutual restraint with Moscow, as reported by state-owned TASS news agency. He specifically addressed the US’s actions in supplying arms to Ukraine, stating that Americans have already breached their own ‘red lines’. “They (the US) should understand that our red lines are nothing to fool with. And they know very well where they are,” the report quoted him as saying.

Lavrov said the US is starting to lose its sense of mutual restraint with Russia, calling it “dangerous”. “(US National Security Council spokesman John) Kirby said that the issue of stepping up support for Ukraine should be approached carefully so as not to provoke World War III because it will be sad to see Europe gone,” he said, adding that the US has a “deep-seated conviction that they are untouchable”.

Lavrov said he hoped Washington would realise the potential consequences of supplying Ukraine with weapons. “I am convinced that there are reasonable people with significant influence left there. And I hope that the interests of the US will be taken into account,” he said.

Meanwhile, at a press conference on Wednesday, Kirby said the US welcomes any nation that is willing to try to help end the conflict in Ukraine.

Any nation that is willing to try to help end this war and do so in keeping with President Zelenskyy’s prerogatives, the Ukrainian people’s prerogatives, his plan for a just peace, we would certainly welcome a role like that,” he said.
On Thursday, Russian President Vladimir Putin named India among the three countries he is constantly in touch with over the Ukraine conflict, asserting that they are sincerely making efforts to resolve it.
“We respect our friends and partners, who, I believe, sincerely seek to resolve all issues surrounding this conflict, primarily China, Brazil and India. I constantly keep in touch with our colleagues on this issue,” Putin was quoted as saying in a separate report by TASS.
Putin’s remarks came within two weeks after Prime Minister Narendra Modi’s historic visit to Ukraine, where he held talks with President Zelenskyy.
On August 23, Modi visited Ukraine, where he conveyed to President Zelensky that Ukraine and Russia should sit together without wasting time to end the ongoing war and that India was ready to play an “active role” to restore peace in the region.

In the ever-evolving landscape of global technology and finance, blockchain technology has emerged as a pivotal innovation with the potential to reshape economies and power structures. One of the most intriguing developments in this sphere is the TON (The Open Network) blockchain, initially developed by Telegram. While it was shelved due to regulatory pressures, it has since been revived and continues to attract significant attention, particularly from the Russian government. This article explores why the Russian government could have a vested interest in the success of the TON blockchain and how its proliferation might affect Western economies.
#### Technological Sovereignty
The concept of technological sovereignty has become a strategic priority for many nations, particularly those like Russia, which seek to reduce their dependency on Western technologies. By fostering the development and success of the TON blockchain, Russia aims to achieve several critical objectives:
1. Reduced Dependency on Western Technologies:
The TON blockchain offers Russia a robust alternative to Western-dominated digital infrastructures. By investing in and promoting a homegrown blockchain, Russia can mitigate risks associated with reliance on foreign technologies, which could be subject to geopolitical tensions and sanctions.
2. National Security:
Control and oversight over technological frameworks are paramount for national security. A Russian-supported blockchain like TON can be tailored to meet specific security requirements, ensuring that sensitive data and transactions are protected from external interference. This could be particularly crucial in safeguarding state secrets and securing communication channels.
#### Economic Growth
The successful implementation and adoption of the TON blockchain can catalyze significant economic benefits for Russia:
1. Innovation and Investment:
The blockchain sector is a hotbed for innovation. By leading in this area, Russia can attract both domestic and international investments, fostering a vibrant ecosystem of startups and tech companies. This influx of capital and talent can stimulate economic growth and create high-tech jobs.
2. Digital Economy:
Blockchain technology can enhance the efficiency of the digital economy by streamlining processes, reducing transaction costs, and eliminating intermediaries. For Russia, this means improved efficiency across various sectors, from finance to supply chain management, boosting overall economic productivity.
#### Sanctions Evasion
One of the more contentious but realistic motivations for Russia's interest in blockchain technology is its potential to circumvent international sanctions:
1. Alternative Financial Systems:
Blockchain provides a decentralized financial system that is less susceptible to control by traditional international banking networks, which are often influenced by Western policies. By leveraging blockchain, Russia can create alternative pathways for international trade and finance, reducing the impact of sanctions.
2. Cryptocurrency Adoption:
Cryptocurrencies, facilitated by blockchain, offer a means of conducting transactions outside the purview of traditional financial institutions. This can help Russia engage in global trade despite economic sanctions, maintaining economic stability and access to essential goods and services.
#### Global Influence
Success in the blockchain domain can also bolster Russia's global standing:
1. Technological Leadership:
Establishing leadership in cutting-edge technologies like blockchain can enhance Russia's global influence. As nations increasingly rely on digital infrastructure, those at the forefront of technological innovation gain strategic advantages in geopolitical negotiations and collaborations.
2. Soft Power:
Promoting and exporting Russian-developed blockchain technologies can enhance the country's soft power. As countries and companies worldwide adopt these technologies, Russia's influence in shaping global tech standards and practices will grow.
### Potential Impact on the Western Economy
The success of the TON blockchain and Russia's broader blockchain strategy could have significant repercussions for Western economies:
#### Competitive Pressure
1. Technological Rivalry:
The emergence of a powerful blockchain ecosystem in Russia could intensify competition in the global tech market. Western countries and companies might face increased pressure to innovate, leading to a technological arms race. This could spur advancements but also create strategic and economic rivalries.
2. Investment Shifts:
As Russian blockchain projects gain traction, they could attract substantial investments that might otherwise flow into Western tech companies. This shift could impact the financial dynamics of tech investment, potentially diverting resources away from Western projects.
#### Sanctions and Financial Systems
1. Evasion Tactics:
The use of blockchain to evade sanctions could undermine the effectiveness of Western economic policies. If Russia successfully conducts international transactions through decentralized platforms, it could weaken the leverage that sanctions provide, complicating geopolitical strategies aimed at curbing Russian actions.
2. New Financial Networks:
The establishment of blockchain-based financial networks could challenge the dominance of Western financial institutions. These new networks might operate outside traditional regulatory frameworks, creating parallel systems that diminish the control Western economies exert over global finance.
Economic Security Concerns
1. Cybersecurity Threats:
Increased blockchain activity could bring new cybersecurity challenges. As more transactions and data move to blockchain platforms, the risk of cyber-attacks and illicit activities may rise. Western nations will need to bolster their cybersecurity measures to protect against potential threats emanating from these new technologies.
2. Regulatory Challenges:
The decentralized nature of blockchain complicates regulatory oversight. Western regulators may struggle to monitor and control international blockchain transactions, leading to potential economic instability. Effective regulation will require international cooperation and new frameworks to manage the unique challenges posed by blockchain technology.
### Conclusion
The Russian government's interest in the success of the TON blockchain is multifaceted, driven by a desire for technological sovereignty, economic growth, sanctions evasion, and enhanced global influence. The potential impact on the Western economy is significant, with competitive pressures, challenges to financial systems, and economic security concerns all in play. As the blockchain landscape continues to evolve, the interplay between Russian ambitions and Western responses will shape the future of global technology and finance.
For stakeholders in both regions, staying informed and adaptive to these developments is crucial. The $TON blockchain represents not just a technological innovation but a strategic pivot point that could redefine economic
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Russia's recent decision to legalize crypto mining and open the door for crypto-based global payments is undoubtedly a significant development. This move, driven largely by the need to circumvent Western sanctions, could potentially reshape the crypto landscape.
A Bullish Narrative Emerges
The legalization of crypto mining positions Russia as a potential crypto mining hub. The country boasts abundant energy resources, a factor crucial for profitable mining operations. This could lead to a surge in mining activities, potentially impacting the overall crypto market, including the price of energy-intensive coins like $BTC .
Furthermore, the green light for crypto in global payments could make Russian cryptos, such as $ETH and $TON, more attractive to international investors. These digital assets could become essential tools for facilitating cross-border transactions, especially for those seeking to avoid traditional banking channels.
Market Analysis: Cautious Optimism
While the potential for Russian cryptos is undeniable, it's essential to approach this development with a degree of caution. Several factors could influence the market's reaction:
Regulatory Clarity: The devil is in the details. The specific regulations governing crypto mining and payments will be crucial. Overly restrictive rules could dampen enthusiasm.Geopolitical Risks: The ongoing geopolitical tensions surrounding Russia introduce significant volatility. Any escalation of conflicts could negatively impact the crypto market as a whole.Market Sentiment: Overall market sentiment towards cryptocurrencies will also play a role. A broader market downturn could overshadow the positive impact of Russia's new crypto policies.
Meme Coins: A Risky Bet
It's worth noting that while meme coins have experienced periods of explosive growth, they are inherently speculative assets. Their value is often driven by hype and social media trends rather than fundamentals. Investing in meme coins, especially in a volatile market like crypto, carries a high degree of risk.
Conclusion
Russia's decision to embrace crypto is a bold move with far-reaching implications. While it presents opportunities for growth and innovation, investors should proceed with caution and conduct thorough due diligence before making any investment decisions.
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Disclaimer: This information is intended for general knowledge and informational purposes only, and does not constitute financial advice. It's crucial to conduct your own research or consult with a financial advisor before making investment decisions.

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Russian President Vladimir Putin next week will visit Mongolia, which is a member of the International Criminal Court (ICC) that has issued an arrest warrant for the Russian leader.
"On the invitation of the President of Mongolia Ukhnaa Khurelsukh, on September 3, 2024 Russian President Vladimir Putin will make an official visit to Mongolia to participate in ceremonial events dedicated to the 85th anniversary of the joint victory of Soviet and Mongolian forces over Japanese militarists on the Khalkhin Gol River," the Kremlin was quoted as saying by AFP.
Last year, the ICC issued an arrest warrant for Putin, accusing him of being responsible for war crimes and illegal deportation of children from Ukraine.
ICC prosecutor Karim Khan said that Putin was now liable for arrest if he set foot in any of the court's more than 120 member states.
Russia is not a party to the ICC so it was unclear if or how Putin could ever end up in the dock. India is also not an ICC member and Putin is expected to travel to New Delhi at the end of the year for the G20 world leaders' summit.

What crimes is Putin accused of ?

Both Putin and Lvova-Belova are accused of being responsible for the war crime of unlawful deportation of people, in particular children, and their unlawful transfer from occupied areas of Ukraine to the Russian Federation.
Citing a report of the United Nations Commission of Inquiry, the BBC said in a report that some of these children were forced to take Russian citizenship and placed in foster families due to which they ended up "remaining permanently" in Russia.
If further said that the transfers were meant to be temporary but both parents and children faced "an array of obstacles in establishing contact". There are 16,221 children who were forcibly taken to Russia, according to the UN investigators.
The ICC said it sees reasonable grounds to believe that Putin bears "individual responsibility for the crimes either by committing them directly, jointly with others and/or through others". It also said that Putin failed to exercise proper control over civilian and military subordinates who committed the acts or allowed for their commission and who were under his effective authority and control.
The arrest warrant obliges member states to arrest Putin or Lvova-Belova if they were to travel to their country. The ICC, however, has no police force of its own or other ways to enforce arrests