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The country’s finance minister confirmed that nearly $300 billion of Russia’s forex holdings have been seized The latest sanctions imposed on Russia over its military offensive in Ukraine have frozen about half of the country’s gold and foreign exchange reserves, according to Finance Minister Anton Siluanov.

The setback in municipal elections on Sunday will be a turning point for the AKP, the president has vowed Turkish President Recep Tayyip Erdogan has acknowledged an electoral defeat for his Justice and Development Party (AKP), after it was projected to have lost to the opposition in Sunday’s municipal elections.