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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Posted By Global Banking and Finance Review

    Posted on May 22, 2025

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    WARSAW (Reuters) - Poland is looking into whether any explosive devices were planted where a ship from Russia's "shadow fleet" was seen moving suspiciously near a power cable linking Poland with Sweden on Wednesday, Polish Prime Minister Donald Tusk said.

    NATO has beefed up security in the Baltic following a string of incidents in which power cables, telecom links and gas pipelines were damaged in the wake of Russia's invasion of Ukraine in February 2022.

    "Shadow fleet" refers to vessels used by Russia to ship oil, arms and grains in violation of international sanctions imposed over its war in Ukraine.

    "We are still investigating whether any explosives were planted - it has to be checked very carefully. ORP Heweliusz (Polish hydrographic ship) is still at sea (doing so), and for now there are no worrisome signals," Tusk told reporters on Thursday during a meeting with Polish Navy commanders.

    "I am really very satisfied that in a very effective, discreet way, without using unnecessary means, we managed to discourage the ship from any kinetic actions that could cause damage to the power cable," he said.

    Defence Minister Wladyslaw Kosiniak-Kamysz said on Wednesday a Polish patrol flight had scared the Russian ship off and the navy's ORP Heweliusz sailed to the scene.

    The 600-megawatt undersea cable links the Swedish coast near Karlshamn with Ustka in northern Poland and allows both grids to rely on cross-border supplies when electricity is cheaper in the other system.

    On Wednesday Russia's embassy in Warsaw declined to comment. In the past, Moscow has denied involvement in undersea sabotage in the Baltic, saying the West was using such claims to curb Russia's seaborne oil exports.

    (Reporting by Pawel Florkiewicz and Anna Wlodarczak-Semczuk; editing by Mark Heinrich)

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