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The President's Daily Brief
PDB Afternoon Bulletin | February 24th, 2025: How Europe Is Funding Both Sides In Ukraine & Dan Bongino Named Next FBI Deputy Director
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It's Monday 24February welcome to the PDB Afternoon Bulletin. I'm Mike Baker, your eyes and ears on the world stage. All right, let's get briefed. First, we'll look at a report out of Europe that reveals that the EU is spending more money on Russian fossil fuels than on financial aid to Ukraine, in spite of extensive sanctions imposed since the war began. Later in the show, Dan Bongino, a former Secret Service agent turned conservative political commentator, has been tapped by President Trump to serve as the next Deputy Director of the FBI. But first, today's afternoon spotlight. As we cross the three year anniversary of Russia's invasion of Ukraine, we're learning how, despite extensive sanctions, European nations are indirectly funding both sides of the war. A damning report out of Europe has revealed that the EU is spending more money annually on purchasing Russian fossil fuels than on financial aid to Ukraine. Now, that's just financial aid. Obviously there are other categories, humanitarian and military. Specifically, the report found that EU countries spent roughly 21.9 billion euros on Russian oil and gas over the third year of the war, compared with roughly 18.7 billion euros that was allocated for direct financial support for Kyiv. That's according to a review by the Guardian. The report from the center for Research on Energy and Clean Air said the continent's continued reliance on Russian energy is undermining Ukraine's efforts to fend off Moscow's invasion force, helping, of course, Vladimir Putin avoid financial ruin despite the severe economic decline the war in Ukraine has caused in Russia, an analyst at the research center and co author of the report told the Guardian. Purchasing Russian fossil fuels is quite plainly akin to sending financial aid to the Kremlin and enabling its invasion. It's a practice that must stop immediately to secure not just Ukraine's future, but also Europe's energy security. End quote. Now, following the Kremlin's invasion back on February 24th of 2022, European countries in partnership with the US have worked to wean the continent off Russian fossil fuels, imposing sanctions designed to stop direct oil imports. But a gaping loophole in the sanctions still allows countries to legally buy Moscow's crude, provided it's first refined into fuels elsewhere, the report said Much of the Russian fuel products are making their way to Europe through trade with countries like Turkey, India and China, who've maintained open economic relations with Moscow despite the war. For example, in the third year of the war, G7 countries purchased some 18 billion euros worth of oil products from six refineries in India and Turkey. With at least 9 billion of that oil refined from Russian crude, that would generate an estimated 4 billion euros in tax revenue for the Kremlin. Russia generates up to half of its tax revenues from the oil and gas sector and has used its so called shadow fleet of oil tankers to bypass existing sanctions. Last Wednesday, the EU agreed on new sanction measures targeting Russia's shadow fleet in an attempt to curb this covert trade. Researchers with a Research center on Energy and Clean Air estimate that by beefing up sanctions and closing the refining loophole, Russian fossil fuel revenues could drop by as much as 20%. Still, Europe is also heavily reliant on another major revenue stream for the Kremlin, which comes through the form of liquefied natural gas exports. The Continent has replaced a portion of its direct oil imports from Russia by increasing their spending on liquefied natural gas since the war began. Now the report called for a major crackdown on these imports, noting that Russia was the number two supplier of liquefied natural gas to Europe last year. This helped contribute to the roughly 242 billion euros that Russia earned off its fossil fuel exports over the past year. With the EU spending roughly 39% more on Russian fossil fuel imports in 2024 than on aid to Ukraine, excluding military or humanitarian contributions, it's clear that the Continent's strategy will need to change if they hope to increase the financial strain of the war on Moscow. An analyst with the Atlantic Council think tank called on the EU to work in concert with the US to crack down on third party sellers of Russian crude, perhaps imposing sanctions on the sale of these products from countries like Turkey and India. By the way, the PDB research team is also looking at the amount of fossil fuels that the US purchases using these same loopholes. The analyst said, quote, the third party states may reconsider purchasing Russian crude and this of course would lead to a decline in Russian energy sales and it would weaken the Russian economy, end quote. But with President Trump appearing intent on securing a settlement between Ukraine and Russia and normalizing economic ties with the Kremlin, Europe's options do appear limited. In the meantime, the EU is set to boost their financial aid to Ukraine as the war enters its fourth year. On Monday, European Commission President Ursula von der Leyen announced that Block would provide another 3.5 billion euros in financial aid to Kyiv, which will arrive in March. That follows 3 billion euros given to Ukraine by the EU in January, funded by the proceeds of frozen Russian assets. Over the course of 2025, the EU plans to provide Ukraine with up to 35 billion euros in financial aid to help keep Russia at bay. Again, that's not including military and humanitarian aid. All right, up next, Dan Bongino, a former Secret Service agent turned conservative political commentator, has been tapped by President Trump to serve as the next deputy director of the FBI. I'll be right back. Welcome back to the Afternoon Bulletin. President Trump has appointed Dan Bongino as the next deputy director of the Federal Bureau of Investigation, the FBI marking another shift in the administration's ongoing effort to to reshape the federal government's approach to justice and security. The announcement made Sunday night on Truth Social Places, another prominent Trump ally in a powerful law enforcement role. Bongino, a former Secret Service agent and NYPD officer, has no prior experience working within the FBI, making him the first deputy director in its history without an internal background in the bureau. As deputy director, Bongino will oversee the FBI's daily enforcement operations. That's a position traditionally held by career officials with deep institutional knowledge of the bureau. The role is crucial. All senior FBI officials report to the director through the deputy director, meaning Bongino will be directly responsible for implementing Trump's law enforcement priorities. While lacking FBI experience, the Bongino is no stranger to the political arena. Over the last decade, he's built a career as a high profile conservative media figure, hosting the Dan Bongino show and briefly taking over a time slot once held by the late Rush Limbaugh. Following Trump's announcement, Bongino confirmed that he would end his podcast to return to public service. Trump praised Bongino's appointment in a Truth Social post writing, quote, working with our great new US Attorney General Pam Bondi and Director Patel, fairness, justice, law and order will be brought back to America and quickly, end quote. Bino's appointment is expected to further cement Trump's influence over the FBI, signaling a shift in priorities away from counterintelligence and counterterrorism and toward what the administration describes as a renewed focus on violent crime. Unlike the FBI director, the deputy director does not require Senate confirmation. The announcement comes just days after the Senate narrowly confirmed Trump's handpicked FBI director, Cash Patel in a 5149 vote. Patel, a staunch loyalist from Trump's first administration, played a key role in the president's efforts to contest the 2020 election and has been outspoken about overhauling the bureau's priorities. Bongino's selection also coincides with Trump's plans to overhaul the federal government's workforce. The president has openly stated his intention to, quote, fire some FBI personnel as part of a larger downsizing effort overseen currently by Elon Musk's Department of Government Efficiency. And that, my friends, is the PDB Afternoon bulletin for Monday 24th February. Now, if you have any questions or comments, and I hope you do, please reach out to me at pdb@the first tv.com and according to Word on the street, if you want to listen to the show ad free, simply become a premium member of the President's Daily brief by visiting PDB premium.com I'm Mike Baker and I'll be back tomorrow. Until then, stay informed, stay safe, stay cool.
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