Category Archives: Seychelles

Saudi Arabia's Seba Tawfiq (green) runs with the ball during a friendly football match against Bhutan in Abha on September 24, 2022. Photo: AFP

The Oceania Football Confederation and the Saudi Arabian Football Federation have signed a memorandum of understanding which could see the Middle Eastern's recently-formed women's teams play in the Pacific.

The agreement will focus on women's football, beach soccer and futsal.

The two organisations will collaborate and cooperate in areas such as technical and managerial football development, competitions and friendly matches.

"The recent development of women's football in Saudi Arabia with a women's football league and a women's national team is commendable, and OFC will be happy to share its expertise and help SAFF in this area," OFC general secretary Franck Castillo said at the signing ceremony in Sydney.

The MOU, which is for an initial period of five years, will allow teams from Saudi Arabia to participate as guests in OFC competitions, and vice versa.

The deal comes as the Women's World Cup final concludes this weekend with the final between Spain and England.

While none of the six Asian Football Confederation slots were filled by Middle Eastern teams, Morocco represented the Arab World and made the last 16.

Saudi Arabia women's team, known as the Green Falcons, played their first-ever match in February 2022 against the Seychelles, winning 2-0 win in a friendly tournament in the Maldives.

"It was an incredible journey when I was the head coach," German Monica Staab told FIFA.com.

"I was a part of history. The first official international FIFA match in the Maldives against the Seychelles. And we won. It was just amazing how these girls were playing."

Staab, who is now the technical director for the Saudi Arabian women's team, said there were 800 applicants for the try-outs for that first national team, from which they selected 35 players.

In 2019, a Premier League and a First Division were both launched in Saudi Arabia, along with a league involving 50,000 girls, and about 3,600 participating schools.

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Saudi women's football teams could play in Oceania under new deal - RNZ

Conserving and using the oceans, seas and marine resources in a sustainable way is one of the aims of the United Nations Sustainable Development Goals, adopted by the United Nations in 2015 as a universal call to action to end poverty, protect the planet and ensure peace and prosperity by 2030.

More than three billion people depend on marine and coastal biodiversity for their livelihoods, and globally the market value of marine and coastal resources and industries is estimated at $3trn per year. Therefore, investment in the conservation of our marine environment is seen as the next frontier in the responsible investment market in the form of blue bonds.

See also: High Seas Treaty will boost interest, access and issuance of blue bonds

According to the UN Global Compact, blue bonds today are where green bonds were 10 years ago. The green bond market has seen rapid growth,with more than $1trn in total issuance, and blue bonds are poised to see a similarly strong market.

ESG Clarity spoke to Stephen Liberatore, head of ESG and impact, global fixed income, at Nuveen, to find out more about this emerging investment space.

Can you explain why investment in ocean conservation is so important?

The ocean covers more than 70% of the surface of our planet and is home to some of the most diverse, unexplored and unique habitats. However, due to increased ocean pollution from fishing, discarded plastic, oil spills and more, marine eco-systems are more vulnerable than ever before.

Blue bonds, a subset of green bonds, are relatively new to the market and provide investors with an instrument designed to support sustainable marine and fisheries projects, preserve local tourism and encourage sustainable ocean management practices. It is crucial we combine both public and private investment to mobilise resources to empower local communities and protect our oceans.

What kind of funds are investing in blue bonds?

Any institutionalinvestor can become involved in blue bonds, working alongside governments, conservation groups and other stakeholders to develop projects. For instance at Nuveen, we worked alongside The World Bank back in 2018 to launch the worlds first blue bond in the Seychelles, where we were the lead investor.

More recently in March this year, we acted as the anchor investor buying 80% (roughly $58m) of a rare blue bond designed to help finance debt relief for Barbados and protect its marine environment. The bond aimed to preserve local tourism and the fishery industries, the latter of which contributes to 40% of Barbadoss GDP, through sustainable ocean management practices in the Caribbean nation. It was the first time Nuveen allocated capital to a bond that is tied to a so-called debt-for-nature swap.

How do you measure the impact that blue bonds have?

For the Barbados Blue Bond, Nuveen uses impact data provided to the Marine Spatial Plan Steering Committee a body consisting of The Nature Conservancy, government officials and local stakeholders to monitor the progress of capital allocation and conservation targets.

What should be done to further incentivise investment in blue bonds?

In order to further incentivise investment in blue bonds, we need to continue raising awareness of their numerous benefits.

Blue bonds support local communities across the planet with a range of opportunities, including coral reef restoration, reducing the negative impact of fishing, for example moving away from nets to long lines, and increasing clean water resources.

One example to demonstrate their benefits is the recent Ecuador blue bond, which targeted the protection of marine resources in the Galapagos archipelago. The Galapagos are considered one of the most ecological diverse areas on the Earth and is designated a UNESCO World Heritage Site.One of the main environmental commitments of the transaction is the development of a 60,000 kilometre marine reserve including a 30,000 kilometre no-take zone where the protected hatcheries will support adjacent fishing grounds.

What hurdles are blocking the development of the blue bonds market?

Blue bonds are an emerging area of climate finance, so amongst certain investors there is a lack of understanding over their purpose and potential. Blue bonds are a fantastic innovation to enhance ocean and coastal preservation while providing economic benefit to the issuers and their citizens. Therefore, the need for education is more important than ever to ensure blue bonds continue to be supported and launched.

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Nuveen Q&A: There is lack of understanding over the potential of ... - ESG Clarity

In a bid to accommodate the steady rise in the number of Russian tourists, Russia and Seychelles are reportedly exploring the possibility of increasing the frequency of direct flights between the two nations. The news comes as tourism between the countries continues to flourish, marked by the remarkable surge in Russian visitors to the Seychelles. The details were disclosed by the Russian embassy and reported by the TASS news agency.

The Russian diplomatic representatives underscored the substantial growth in the influx of tourists from Russia. This surge has been significantly propelled by the establishment of direct air connectivity between Moscow and Victoria. Furthermore, a pivotal development in fostering this tourism boom was the visa waiver agreement that was signed between the two countries in 2015, effectively nullifying visa requirements for travelers. According to the embassy, the consistent upward trajectory of the tourist inflow on this route has spurred discussions within the relevant authorities of both nations about potentially expanding the flight options.

According to official statistics provided by the embassy, approximately 30,000 Russian tourists visited Seychelles in 2022. Whats more, the projections for this year are even more promising, with over 21,000 Russians expressing their interest in exploring the archipelago in the first half of the current year alone. To put this into perspective, before the resumption of direct flights, the annual figure of Russian visitors had not surpassed 15,000 individuals.

This boost in tourism can be attributed to various factors, with the reestablishment of direct flights serving as a significant catalyst. The convenience and efficiency of direct air travel have not only attracted more tourists but have also facilitated a closer economic and cultural connection between Russia and Seychelles. As the two countries continue to foster these ties, discussions about expanding flight options are a testament to the commitment both nations share in capitalizing on this positive trend.

As the tourism industry remains a vital source of revenue and cultural exchange for both Russia and Seychelles, increasing the frequency of direct flights can further stimulate economic growth and strengthen the already flourishing relationship between the two nations. Travel enthusiasts and business travelers alike stand to benefit from enhanced connectivity, making the prospect of increased direct flights a promising one for both countries.

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Russia and Seychelles Consider Increasing Direct Flights Amidst ... - RusTourismNews

(AFP) - Russia on Friday said it had improved its fighting positions around the northeast Ukraine town of Kupiansk, where its advance has prompted Ukrainian officials to urge residents to evacuate.

Moscow also launched a volley of hypersonic missiles at western Ukraine, killing an eight-year-old boy in a part of the country largely spared from attacks.

Kupiansk and the surrounding areas of the northeast Kharkiv region were recaptured by Kyiv's forces in September, but Moscow has since pushed back, forcing Ukraine to order civilian evacuations.

According to Moscow's defence ministry, Russian units had "continued offensive operations on a wide front and improved the tactical situation" in Vilshana and Pershotravneve, east of Kupiansk.

The situation around the town was "difficult, given the power of the enemy group, but controlled", said Sergiy Cherevaty, spokesman for Ukraine's eastern forces.

Ukrainian officials in Kupiansk on Thursday urged residents in 37 settlements wedged between the town and Russian lines to evacuate to Kharkiv, some 90 kilometres (55 miles) west, where they would have the option to move to safer regions, they said.

Russia's drive in Kupiansk has sought to draw Ukrainian forces away from Kyiv's own counteroffensive.

Ukraine launched its highly anticipated push in June after stockpiling Western weapons but has struggled to make headway in the face of stiff Russian resistance.

In Brussels, an EU spokesman said Friday the bloc has delivered 223,800 shells to Ukraine out of a planned one million artillery rounds due by next spring to help Kyiv's fight against Russia.

Fears have been voiced in some EU capitals the bloc will struggle to hit its target.

To date, the EU and its member states say they have spent some 20 billion euros supplying weaponry of all kinds to Ukraine since Russia invaded in February 2022.

- Child killed in strike -

Friday saw Russia launch four Kinzhal hypersonic missiles at targets in western Ukraine, Kyiv's air force said.

"One Kh-47 missile was destroyed within Kyiv region," the air force said, while the rest were hit near the Kolomyia airfield in the Ivano-Frankivsk region.

"Civilian facilities and infrastructure were hit, and one of the missiles hit a residential area," it said.

Kyiv said the strikes hit a house near the western town of Kolomyia, killing an eight-year-old boy playing in the yard, Kolomyia mayor Bogdan Stanislavskyi said on Telegram.

On Thursday, a Russian strike in the city of Zaporizhzhia killed at least one and wounded 14, according to Ukrainian officials.

The United Nations condemned the strike, which it said had hit a hotel used by its teams and other NGOs working in the region.

The Russian defence ministry said it had hit a base for foreign mercenaries in the city.

- Moscow targeted by drone -

Ukrainian President Volodymyr Zelensky on Friday dismissed the heads of military conscription in every region, in a bid to clean house after a series of corruption allegations.

"This system should be run by people who know exactly what war is and why cynicism and bribery at a time of war is high treason," Zelensky said.

In Moscow, officials said Friday they had destroyed a drone aimed at the capital, the latest in a string of attacks on the city in recent days.

A Ukrainian drone was destroyed over the western outskirts of Moscow, the defence ministry said, adding there was no damage or casualties as a result of the incident.

"An attempt by the Kyiv regime to carry out a terrorist attack using an unmanned aerial vehicle on a facility in Moscow was thwarted," said the ministry.

Largely spared in the early part of the conflict, the capital has seen a surge in attacks over the last months.

AFP journalists saw police had cordoned off parts of a park in the Karamyshevskaya embankment in the west of Moscow, where debris landed Friday.

On the fringes of the conflict, Belarus strongman and Russia ally Alexander Lukashenko said he was ready to talk to neighbouring Poland, a NATO member, amid rising border tensions.

Poland's Deputy Foreign Minister Pawel Jablonski retorted that "Lukashenko's words remain at odds with his actions" and he should "stop attacking our border, free the more than one thousand political prisoners and (Belarusian-Polish journalist) Andrzej Poczobut, stop this hate campaign, this hybrid war against Poland".

Warsaw last week said two Belarusian helicopters had violated its airspace.

Agence France-Presse

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Russia steps up the pressure in northeast Ukraine - Seychelles News Agency

Seychelles, the 40thAfrican Union member state to accede to the African Peer Review Mechanism (APRM), is hosting a two-day workshop to engage stakeholders by providing guidance on the implementation of the APRM Process in the country. The workshop, kick-started today at the Savoy Resort & Spa, aims at empowering and re-energising APRM countries in implementing their national governance review process since the accession to the mechanism.

In his opening remarks, Minister Radegonde emphasised the crucial role of the APRM in promoting good governance, democracy and socio-economic development in Africa.The APRM is an initiative that embodies the African Unions commitment to promoting sustainable development, peace and security on the African continent.He pointed out that the APRM is a platform for sharing experiences, best practices, and lessons learned among African nations.It is through these exchanges that we can learn from each other and develop African solutions to African problems.

On behalf of the APRM CEO, Prof. Eddy Makola, the Director of Country Review and Assessment, Dr. Rachel Mukamunana, highlighted the following:Our objectives for this workshop are clear and purposeful. First and foremost, we aim to reiterate the important role of APRM structures and processes.

The two-day workshop is designed as a platform for experience sharing and peer learning and will see the participation of representatives from twenty-three countries, all aiming to work together to foster good governance, political stability and economic growth across Africa.

The workshop will be followed by courtesy calls to Seychelles authorities. The purpose of these visits, led by Prof Eddy Maloka, CEO of APRM, is to revive the APRM process in Seychelles. The APRM, through these engagements, wishes also to renew its support to the Republic of Seychelles as the country gears itself towards establishing its national structures to kick start the APRM Process.

Distributed by APO Group on behalf of Ministry of Foreign Affairs and Tourism Foreign Affairs Department, Republic of Seychelles.

This Press Release has been issued by APO. The content is not monitored by the editorial team of African Business and not of the content has been checked or validated by our editorial teams, proof readers or fact checkers. The issuer is solely responsible for the content of this announcement.

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Joint Press release : Seychelles hosts the first African Peer Review ... - African Business

The APRM was set up in 2003 when African heads of state and government took anunprecedented decision to subject themselves, on a voluntary basis. (Department of Foreign Affairs)

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(Seychelles News Agency) - Seychelles has joined 14 other members of the African continent to share experiences and look for ways to better implement the African Peer Review Mechanism (APRM) reviewing process in theirrespective countries.

The APRM was set up in 2003 when African heads of state and government took anunprecedented decision to subject themselves, on a voluntary basis, to a self-assessment process to review progress.

"The essence of APRM is to ensure that our countries are well governed, respecting the principles of accountability, transparency, human rights protection so that we can have a peaceful and secure developed continent," said Dr Rachel Mukamunana, director of country review at APRM headquarters following a meeting in Seychelles.

She added that since there are certain countries that are not yet there and that is the context for organising the workshop"to encourage those that have not embarked on the self-assessment to do so in particular of the context of the challenging times."

In his address to officially launch the event, the Minister for Foreign Affairs and Tourism, Sylvestre Radegonde, said that Seychelles became the 40th member of the APRM upon its accession to it in February 2020.

"However, owing to different circumstances, including the COVID-19 pandemic, we have not yet been able to set up our national structures. We hope that through this workshop - through exchanges and knowledge-sharing with other participants - we will be able to address this matter very soon."

There are 43 member states of which 26 have gone through the self-assessment and have been peeraged by the heads of state and government.

Recent news on the African continent has shown an increase in certain unrest to which Dr Mukamunana said," We are seeing something that we can describe as a setback in terms of democratic gains, but we need to understand why we are experiencing those setbacks."

She added that there have been improvements over the last 20 years as a result of the APRM.

"You know that the matter of governance is not something you do and you are done it's a continuous improvement, and that's why we need to continue to forge on and to come together as member states,"said Dr Mukamunana.

"As you know we have the African Union vision, what we call the Agenda 2063, where we think the continent will be prosperous and peaceful," she added.

The APRM is a mutually agreed instrument voluntarily acceded to by AU member states as an African self-monitoring mechanism. The APRM is often described as "Africa's unique and innovative approach to governance" with the objective of improving governance dynamics at the local, national and continental levels.

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Good governance: Seychelles takes part in APRM with African ... - Seychelles News Agency

The non-food category which includes items such as housing, water and electricity among others make up the biggest weight in the basket at 85 percent. (Seychelles News Agency)

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(Seychelles News Agency) - As of June 2023, the annual year-on-year inflation rate of Seychelles hasgone down to -1.3 percent, compared to 2.05 percent in the same month of 2022.

The figure, which was published by the National Bureau of Statistics (NBS) as part of the Consumer Price Index (CPI) recently, shows that the core inflation index fell by -0.44 percent over the same period from June 2022 to June 2023.

"The CPI measures the change in the price of goods and services that households pay for the purpose of consumption," senior statistician at the NBS, Kirsten Arnephy told SNA.

Arnephy said that to track the change in price over time, a basket of goods and services is used and classified into three main groups - fish, other food and non-food items.

"Each category has a specific weight, which is derived from the results of the Household Budget Survey (HBS) and it is determined by how much people are spending towards each commodity or service to the total expenditure incurred by households on commodities," added Arnephy.

Non-food items make up the biggest weight in the basket at 85 percent, with other food at 14 percent and fish at 1 percent.

The non-food category includes items such as housing, water and electricity, transportation, communications, alcoholic beverages and household equipment. As of June 2023, the inflation rate for this category was 1.5 percent compared to 6 percent in 2022.

The biggest drop in inflation came from transportation costs, which dropped from 11.1 percent in June 2022 to 0.6 percent last year.

"Since the non-food group makes up the most weight in the basket when the price of commodities in that group increases or decreases, it will have an impact on inflation accordingly," explained Arnephy.

In the other food group, the inflation rate in June 2022 was 6.1 percent, while in June 2023 that stood at 1.1 percent. Here the biggest drop in price was seen in milk, cheese and eggs, from 7.9 percent in 2022 to 0.1 percent in June 2023.

Arnephy also added that the NBS has undergone a re-basing exercise in 2021, where they had to revise the basket to make it more representative of the realities of today.

"We have seen different items added to the basket, such as more hybrid cars, package holidays, as well as non-dairy items like almond and soy milk," she added.

The drop in inflation or deflation as it is called, is positive for the country, although it is still way off the lowest rate of -5.54 percent, recorded in March 2010.

Seychelles highest inflation rate was recorded in December 2008 at 63.25 percent at the height of the global financial crisis. This was a month after the island nation embarked on a macroeconomic reform programme with the help of the International Monetary Fund (IMF) to primarily address the serious balance of payments and external debt difficulties.

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Seychelles' year-on-year inflation goes down to -1.3% as of June 2023 - Seychelles News Agency

Sail away to paradise Dream Yachts charter vessels await in idyllic waters. Dream Charter Worldwide

Dreaming of the wind in your hair, the sun on your face, and pure sailing exhilaration in the environs of an exotic destination? Perhaps its an annual quest. Or a lifelong dream. But where to begin? Once youve identified the destination, finding a reputable charter company, well-maintained boats and staff with intimate, local knowledge can be a daunting task.

What if you love the water, have spent many hours on your favorite lake or river but are not comfortable heading out on the ocean with your family all by yourself? With a bareboat charter out of the question and luxury-sailing-yacht charter options often out of reach, for many, the dream of sailing the big blue has remained just thata dream.

But fear not, ye wistful ocean lover, whether you are a neophyte or an expert mariner, Dream Yacht Worldwide is uniquely positioned to facilitate those sailing dreams.

Founded in 2000 in the Seychelles, Dream Yacht was the vision of founder Loc Bonnet, who set out to revolutionize the charter industry by making sailing an accessible activity for sailors and nonsailors alike. What began with six sailing charter vessels cruising the idyllic waters of the Indian Ocean has expanded dramatically over the past two decades.

Today Dream Yacht offers nearly 1,000 sailing yachts from 34 feet to 58 feet and power and sailing catamarans in 50 of the worlds most exquisite cruising destinations. Whats even better? Dream Yacht is purposefully designed to provide sailors of any skill level the sailing experience of their dreams.

With Dream Yacht Worldwide, you can think beyond the BVI and Caribbean milk runs, although there are plenty of Dream Yacht charter vessels in these areas too. Dream Yacht Worldwide offers more choices of destinations around the world than any other yacht charter company. This gives exceptional peace of mind that lets you know that no matter what destination you choose next, the charter vessels will be well-maintained and offered at the same high standard of service youve come to expect of Dream Yacht based on the sailing grounds youve already come to know.

In fact Dream Yacht has so many destinations to choose from that if you decided to go sailing for a whole year, you could explore new cruising grounds every week without visiting the same islands twice, unless you wanted to. Imagine gunkholing in Thailands remote coves and anchorages, diving off the bow in Tahiti, or sailing under a fjords waterfall in Norway.

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Dream Yachts unique premise is simple. Once youve selected a destination, its time to identify your preferred vacation style. Dream Yacht offers sailing experiences to suit every cruising preference, from bareboat and skippered to by-the-cabin and fully crewed charters or long-term rentals.

When all you need is a reliable, well-maintained vessel that you can handle yourself, a Dream Yacht bareboat charter is for you. With a bareboat charter, you take care of your own provisioning, plan your own itinerary, and spend your days exploring at your own pace. The caveat? You must be experienced with the type of vessel you plan to charter and in some countries need official documentation regarding your skills. If you plan to explore the Mediterranean, for example, you will need your ICC certification.

Leave the anchoring and the chart plotting to the captain on this vacation with a Dream Yacht skippered charter. Perfect for those with little to no sailing experienceor for those who simply want to sit back and enjoy the world go bya skippered charter brings a professional and experienced captain on board to man your vessel. Dream Yachts captains all have professional sailing experience and vast local knowledge of their respective destinations.

For the complete all-the-frills experience, consider a fully crewed yacht charter. With this option, you and up to 11 guests can set sail on a large private monohull or catamaran yacht, and be catered to from the moment you step foot on board until your departure. Dream Yacht Worldwide hand-picks your professional crew to handle the itinerary, provisioning and daily cabin service, and you will enjoy water toys, a fully stocked bar, and scrumptious meals prepared to your culinary preferences by your own personal hostess.

Dream Yachts easy crewed product offers a bridge between a skippered and fully-crewed charters for groups of up to 10 family members or friends traveling together. You decide how little or how much service you need. Easy crewed charters are currently offered in select destinations in the Mediterranean, the Seychelles, Tahiti, the BVI, and Martinique.

If a whole boat is more than you need, you may be most comfortable with a cabin charter, which is a shared-vessel experience that gives you a single or double cabin with a private en suite in the company of other like-minded travelers. The cabin charterers share a full crew, a set itinerary, daily meals with drinks and snacks, and the option for additional onshore excursions.

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For more information and booking details, visitdreamyachtcharter.com.

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Around the World in 50 Destinations - Cruising World

Iceland has used its lobbying power vis--vis the EU to shelter Alexander Moshensky, a Belarusian oligarch close to Alexander Lukashenko, from sanctions, with Hungary also using its veto in his favour, fresh analysis from a consortium of investigative websites has revealed.

Moshensky, a Belarusian businessman whose assets include the prominent food manufacturers Santa Bremor and Savushkin Produkt earning him the nickname of the fish king of Belarus has for two decades enjoyed diplomatic and business relations with Iceland.

Rejkyavik subsequently lobbied the EU to shield Moshensky from European sanctions, despite his having close ties to the regime of Belarusian premier Lukashenko, as now revealed in a journalistic investigation published on Friday (4 August).

While many other wealthy businessmen close to Lukashenko, like Aliaksandr ShakutsinorSiarhei Tsiatseryn are on the EU sanctions list, Moshensky has so far escaped them.

The fact that Mashenski did not appear to be a close associate of Lukashenko was believed to be the reason the sanctions bypassed him. But is it really so? the investigation asks.

The report by the Belarusian Investigative Centre (BIC) in collaboration with LRT (Lithuania) and Heimildin (Iceland) with the support of CyberPartisans and the Organised Crime and Corruption Reporting Project (OCCRP), illustrated the extent of Moshenskys relationship with Lukashenko.

In 2006, Moshensky became Icelands honorary consulin Belarus, and still keeps this position, according to the website of the Icelandic government.

According to the newspaper Heimildin, Icelandic Foreign Ministry representatives made over 30 calls to EU decision-makers to lobby on Moshenskys behalf to prevent EU sanctions from being applied to him.

The newspaper writes that Hungary came to the rescue of Moshensky after 10 EU countries requested he be included in the sanction list at a meeting at the beginning of May, which reportedly greatly angered the Poles and Lithuanians.

According to Heimildin, the Hungarian government, in addition to being particularly opposed to any EU coercive measures against Belarus, has its own representative in the offices of Moshenskys flagship company Santa Bremor.

The managing director of Santa Bremor, Sergey Nyadbaylau, whos is Hungarys honorary consul in Belarus. The fact that in Santa Bremor headquarters there are two consuls from foreign countries, one Hungarian and one Icelandic, has already attracted media attention.

Moshenskis connections with the Belarusian authorities have been well documented: he has accompanied Lukashenko in the governmental plane during trips abroad, supported him in electoral campaigns, and been the recipient of a medal.

On 20 June, Icelandic MP Thrhildur Sunna varsdttirfrom the Pirate Party voiced in the Council of Europe her deep regret that the government of her country refused to dismiss Moshensky as honorary consul of Iceland in Belarus.

I am ashamed that we still maintain these ties for business interests mostly. Im ashamed of reports that Iceland has used its diplomatic power within the European Union to keep him off sanctions lists. I hope that we will soon become a state that shows full solidarity with the people of Belarus, regardless of whether or not that in some way or other impacts our economic interests, varsdttir stated, according to a Council of Europe transcript.

BIC describes the financial montage of the main business of Moshensky via an octopus of offshore zones in Seychelles, the British island of Jersey and EU member Cyprus. This allows the Belarusian company to whitewash its origin and to use Klaipeda, a port in EU member Lithuania, to import raw fish from Norway, Iceland, South America and Asia, the investigation states.

As BIC describes it, Moshensky owns the fishing business in Belarus, partly directly, and partly through offshore companies. Norwegian and Icelandic fish enter Belarus through his company in Lithuania. Transactions between firms act like a credit carousel to evade tax.

Moshensky has already taken steps to protect his business should he find himself on the sanctions list, according to BIC. His Lithuanian company Santa Trade changed ownership a month and a half after the start of the war in Ukraine. Santa Trade is now owned not by Santa Bremor but by Newride Services Limited of Cyprus. According to OCCRP, this company is owned by the businessmans daughter, Yana Mashenskaya.

[Edited by Nathalie Weatherald]

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Iceland, Hungary helped shelter Belarusian businessman from EU ... - EURACTIV

Rwandans traveling to Seychelles will not be required to have visas, thanks to a new agreement signed between the two countries.

The visa exemption deal was reached on Wednesday, June 28, as part of the several memoranda of understanding (MoUs) signed during President Paul Kagame's visit to Seychelles.

President Kagame, who is visiting alongside First Lady Jeannette Kagame, started a two day state visit to Seychelles on Wednesday, June 28, as part of the efforts to deepen bilateral relations.

Upon reaching the island nation, he was received by host President Wavel Ramkalwan.

The two Heads of State held a tete-a-tete before chairing a bilateral meeting of both countries.

The bilateral agreements signed aim at fostering cooperation in the field of defense and security, law enforcement, agriculture, health, and tourism.

In his press statement, host President Ramkalawan outlined that within law enforcement, Rwanda has one of the best police academies.

"We have agreed that our police force will be able to use the facilities of your academies at all levels. In the same way for defense and security, Rwanda continues to play a leading role," he said.

"We realize that in the field of agriculture, Rwanda is again showing leadership on the African continent and small Seychelles would like to tap into the experience. The MOU signed will give our agricultural field a greater hope for improvements. In the field of health, tourism, and other areas, I think what we signed today marks the confirmation of the solid relationships that we want to further," he added.

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Deepen cooperation

Kagame said that discussions held at State House with his Seychellois counterpart were productive as Seychelles and Rwanda are driven by common aspirations to improve the life of their citizens, working hand in hand with partners in the region and beyond.

"Building on our strong bilateral ties, we intend to deepen our cooperation across strategic areas of mutual benefits. For Seychelles and Rwanda, tourism is a key driver of economic growth. Collectively, there is a lot we can do to make the sector more sustainable and resilient. Tourism creates enormous opportunities for air connectivity and commercial links bringing businesses from Seychelles and Rwanda closer together," he said.

As part of his visit to Seychelles, Kagame also addressed the National Assembly in an extraordinary session on Wednesday, during which he urged lawmakers to build on the many successes of the African continent to find solutions that benefit both their people.

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Rwanda, Seychelles Waive Visas, Ink Five Pacts to Deepen Relations - AllAfrica - Top Africa News