ZeroFox Physical Security Intelligence Daily Brief - May 22, 2024

ZeroFox Physical Security Intelligence Daily Brief - May 22, 2024

ZeroFox physical security experts collect, curate, and analyze information derived from open and proprietary sources for comprehensive context of the circumstances surrounding global events. Here is today’s daily roundup of major developments.

Brief Highlights

• Moldova Signs Security Pact With European Union
• EU to Transfer Windfall Profits from Seized Russian Assets to Ukraine
• Poland Arrests 12 People Suspected of Spying for Russia in 24 Hours

Moldova Signs Security Pact With European Union

On May 21, Moldova signed a security and defense pact with the European Union (EU), marking the first time an individual country has signed a security pact with the EU. Officials have not yet released details of the agreement, but the deal likely includes measures designed to facilitate cooperation between Moldova and the EU to defend against threats from Russia.

EU to Transfer Windfall Profits from Seized Russian Assets to Ukraine

On May 21, the Council of the European Union (EU) announced that it will use ‘windfall profits’ from frozen Russian accounts to support Ukraine. The block seized an estimated EUR 200 billion in financial assets belonging to the Russian Central Bank after the invasion of Ukraine in February 2022. These arrested funds generate an estimated EUR 2 to 3 billion in profits each year, and Ukraine is expected to receive the first tranche of financial aid from this source in July 2024. In addition, on May 17, 2024, United States (US) Treasury Secretary Janet Yellen suggested that G7 nations could leverage the approximately USD 300 billion in Russian financial reserves currently under their control to extend a USD 50 billion loan to the Kiev government. This proposal will likely be discussed during the G7 meeting in Apulia, Italy on June 13-15, 2024.

Poland Arrests 12 People Suspected of Spying for Russia in 24 Hours

On May 20, Polish authorities arrested nine members of an alleged Russian spy ring charged with carrying out acts of sabotage against European countries. The nine individuals were of Polish, Ukrainian, and Belarusian nationality. Polish Prime Minister Donald Tusk said the individuals are suspected in a series of "beatings, arson, and attempted arson" in Poland, Lithuania, Latvia, and possibly Sweden. According to Tusk, an international investigation into the group is ongoing. The next day Tusk held a press conference during which he announced Poland would re-establish a commission to investigate Russian interference in the country. Justifying the need for the commission, Tusk added that Polish officials arrested a further three people suspected of spying for Russia overnight. Tusk also noted it was "likely" Russia was involved in a fire that recently destroyed Warsaw's largest shopping mall. Russia-linked acts of sabotage on Polish soil are highly likely part of hybrid operations designed to weaken Western resolve and undermine support for Ukraine.