The Ukraine Money Pit

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Writes Martin Armstrong:

Estonia’s Defence Minister Hanno Pevkur has resigned after a €70 million ammunition deal intended to supply Ukraine blew up into a procurement scandal. Estonia agreed to purchase artillery shells from Datasel, an Italian-registered company owned by India’s Neco Defense Munitions, despite the companies having no established history of selling artillery shells. Millions were paid in advance, deliveries ran into problems, Estonia terminated the contracts, and the dispute has now gone to arbitration. This is what happens when government declares everything an emergency and suddenly the normal rules surrounding public money become inconvenient.

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