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US and Polish officials open missile defense site that Russia has long protested

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US and Polish officials open missile defense site that Russia has long protested
News

News

US and Polish officials open missile defense site that Russia has long protested

2024-11-14 01:27 Last Updated At:01:30

WARSAW, Poland (AP) — U.S. and Polish officials inaugurated a NATO missile defense base in northern Poland on Wednesday, with Polish officials welcoming it as a significant step in securing the country and the NATO alliance at a time of war in neighboring Ukraine.

The U.S. missile defense base, which is being integrated into NATO's defenses, was originally planned under U.S. President George W. Bush as a way to protect Europe from ballistic threats from Iran. Poland, however, has always seen it as a form of U.S. protection in case of Russia aggression, fears that have grown since Russia's invasion of Ukraine.

The Kremlin protested the plan from the start, and on Wednesday denounced the base as a challenge to its own military potential that would require measures “to ensure parity.”

Polish officials, who gathered with the U.S. ambassador and other officials, welcomed it as historic step that increases the U.S. commitment to the security of Europe at a time of uncertainty due to the war in Ukraine. There are also concerns about whether Donald Trump will remain as committed to Europe's security when he returns to the White House in January.

“The whole world will see clearly that this is not Russia's sphere of interest anymore,” Polish President Andrzej Duda said at the ceremony in Redzikowo. “From the Polish point of view, this is strategically the most important thing.”

Poland’s Defense Minister Władysław Kosiniak-Kamysz called the opening of the base with its hundreds of U.S. Navy personnel “an extraordinary event in the history of the security of Poland, the U.S. and NATO.” He said the conflicts in Ukraine and the Middle East are showing the importance of air defenses.

“The base in Redzikowo means the eternal presence of American and allied troops on the territory of the Republic of Poland and, strategically for Poland, it is one of the most important events in history after 1989," he said.

The facility is equipped with the U.S. Navy's modern Aegis Ashore system, which can detect, track and destroy ballistic missiles in the initial phase of their flight. It is the second land element of Aegis Ashore in Europe after the first such installation went into operation in Romania in 2016.

Asked about the base during a news briefing Wednesday, Kremlin spokesman Dmitry Peskov said Russian President Vladimir Putin had expressed his concerns about the U.S. plans even during the Bush administration.

“We then insisted that the Americans saying all these plans are aimed against the ephemeral Iranian threat are in fact a lie, that all these plans were drawn up from the very beginning as an attempt to militarily contain our potential,” he said.

“This is the advancement of American military infrastructure on European territory towards our borders. This is nothing other than an attempt to contain our potential. And, of course, this leads to the adoption of appropriate measures to ensure parity,” Peskov added.

Later in the day, NATO Secretary General Mark Rutte visited Warsaw for meetings with Duda and Prime Minister Donald Tusk, another gesture of NATO unity. He praised Poland for its contributions to the alliance, including its high level of defense spending.

“With this, you are building one of the biggest armies in NATO,” Rutte said at a joint news conference with Tusk.

Tusk, who is preparing for Poland to take over the rotating leadership of the European Union on Jan. 1, said he has been speaking with other European leaders to make sure they remain committed to Ukraine being involved in any future negotiations about its fate.

“This means that EU member states should ensure that future decisions regarding, God willing, ending the war or freezing the conflict, are made in full agreement and with the participation of the interested states, those from the eastern flank, but above all Ukraine itself," Tusk said.

NATO Secretary General Mark Rutte, left, meets with Poland's President Andrzej Duda, right, in Warsaw, Poland, Wednesday, Nov. 13, 2024.(AP Photo/Czarek Sokolowski)

NATO Secretary General Mark Rutte, left, meets with Poland's President Andrzej Duda, right, in Warsaw, Poland, Wednesday, Nov. 13, 2024.(AP Photo/Czarek Sokolowski)

Next Article

Gold is suddenly not so glittery after Trump's White House victory

2024-11-14 20:08 Last Updated At:20:10

NEW YORK (AP) — After ripping higher for much of this year, the price of gold has suddenly become not so golden since Donald Trump's victory in the presidential election.

Gold fell more than 4% in the four days since Election Day, when the broad U.S. stock market climbed nearly 4%. That's even though investors are expecting a Trump White House to drive tax rates lower and tariffs higher. Such a combination could push the U.S. government's debt and inflation higher, which are both things that can help gold's price.

That's left gold at $2,618 per ounce, as of late Monday, down from a record of roughly $2,800 set late last month. It also means gold has lost some luster as the best performing investments of the year. The largest exchange-traded fund that tracks the price of gold has seen its gain for 2024 drop back below 27% from nearly 35% a couple weeks earlier.

What's going on? Part of the decline has coincided with the strengthening of the U.S. dollar against other major currencies. Tariffs and trade wars instigated by the United States could push down the value of the euro and other countries' currencies, and a strong U.S. dollar makes it more expensive for buyers using those other currencies to purchase gold.

Trump's preference for lower taxes and higher tariffs is also forcing Wall Street to ratchet back expectations for how many cuts to interest rates the Federal Reserve will deliver next year. Fewer rate cuts would mean Treasury bonds pay more in interest than previously expected, and that in turn could hurt gold's price. Gold, which pays its owners zero dividends or income, can look less attractive when bonds are paying more.

Gold, of course, still has its reputation for offering a safer place for investors when things are shaky around the world. Whether it's been because of wars or political strife, investors often flock to gold when they're not feeling confident about other investments. And with wars still raging in the Middle East, Ukraine and elsewhere, while political tensions still seem as high as ever, gold will likely stay in many investors' portfolios.

“Gold continues to be the safe haven asset class of choice for both investors and central banks,” according to money managers at Robeco, which handles investments for big institutional investors.

FILE - Gold bars are shown stacked in a vault at the United States Mint on July 22, 2014 in West Point, N.Y. (AP Photo/Mike Groll, File)

FILE - Gold bars are shown stacked in a vault at the United States Mint on July 22, 2014 in West Point, N.Y. (AP Photo/Mike Groll, File)

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