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Putin announces plans to station nuclear weapons in Belarus
In this issue: Putin deploys nukes to Belarus in retaliation to UK; US and Canada to create semiconductor corridor; Terraform Labs founder arrested for fraud
Russian President Vladimir Putin announced on Saturday that the country will deploy tactical nuclear weapons to Belarus in retaliation to the UK's decision to provide Ukraine with armour-piercing rounds containing depleted uranium. Putin claims that Russia will not violate international agreements on the nonproliferation of nuclear weapons. Putin also said that the US has previously deployed nukes in NATO countries, justifying the deployment. Construction of storage facilities for the nuclear weapons is set to be completed by July 2023. The move is seen as an intimidation tactic against the West, which has provided Ukraine with monetary and tactical support following the Russian invasion. Last month, Putin suspended Russia's participation in a nuclear arms treaty and threatened to resume testing of nuclear weapons.
On our radar
The United States and Canada have announced plans to create a bilateral semiconductor manufacturing corridor, while IBM has signaled its intention to expand in Canada. The Canadian government will invest C$250 million ($181.94 million) in its domestic semiconductor industry to enhance research and development and manufacturing. The two countries have pledged to reduce their dependence on other nations for critical minerals and semiconductors, in part by standing together against authoritarian regimes. IBM will make a significant investment to develop new and expanded packaging and testing capabilities at its Bromont facility in Quebec, as part of a Memorandum of Understanding. The amount of IBM's investment in Canada has not been disclosed. IBM also maintains semiconductor research and manufacturing operations in upstate New York, where it plans to invest $20 billion over the next decade to make and develop semiconductors, mainframe technology, artificial intelligence, and quantum computing.
ASSOCIATED PRESS — Do Kwon, wanted in $40B crypto crash, arrested in Montenegro
Do Kwon, founder of Terraform Labs, has been arrested by police in Montenegro in connection with allegations of fraud and financial crimes relating to the crash of Terraform's digital currencies. Kwon and five others connected to the company are accused of causing around $40 billion in market value to be erased for holders of TerraUSD and Luna, a floating sister currency, after the stablecoin plunged below its $1 peg in May 2022. South Korea had requested a red notice from Interpol for Kwon's arrest, and both South Korea and Montenegro are signees to the European Convention on Extradition. Kwon and another unidentified individual were arrested at Montenegro’s Podgorica Airport while trying to depart for Dubai using fake Costa Rican passports.
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