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Ukraine’s Parliament Approves Controversial Mobilization Bill

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Ukraine’s Parliament Passes a Politically Fraught Mobilization Bill

After months of political wrangling, Ukrainian lawmakers on Thursday passed a mobilization law aimed at replenishing the nation’s exhausted and depleted fighting forces, which are struggling to hold back relentless Russian assaults that are expected to intensify in the coming months.

Yulia Paliychuk, a spokeswoman for the party of President Volodymyr Zelensky, confirmed that the law had been adopted by Parliament. It passed overwhelmingly with support from 283 lawmakers, while 49 lawmakers from some opposition parties abstained, according to the official roll call.

The urgent need for fresh troops has been evident since last fall, but Mr. Zelensky has been exceedingly cautious in dealing with the politically fraught topic, which has the potential to undermine the social cohesion critical to Ukraine’s ability to wage war against a larger and better-armed enemy.

Mr. Zelensky had urged lawmakers to act this week and is expected to sign the new legislation soon. However, the last time Parliament passed controversial legislation related to mobilization, Mr. Zelensky waited nearly a year before signing it into law earlier this month.

Mr. Zelensky was visiting Lithuania on Thursday.

Lawmakers passed the bill only hours after the country was rocked by yet another large-scale bombardment of more than eighty missiles and drones, many aimed at Ukraine’s already battered energy infrastructure.

The law passed by legislators on Thursday addresses the issue of mobilization broadly and includes provisions to make the conscription process more transparent and equitable. The full text of the law was not immediately available.

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Lawmakers outlined parts of the bill in statements posted on social media and in interviews with Ukrainian media, noting that it included a mix of incentives for soldiers who voluntarily serve and new penalties for those trying to evade conscription.

Oleksiy Goncharenko, a member of Parliament in the opposition European Solidarity party, said he refused to vote for the bill because it did not address when conscripted soldiers would be released from service.

The Ministry of Defense said in a statement that demobilization was excluded from the government bill at the request of General Oleksandr Syrskyi, Ukraine’s top military commander, who understands the operational situation and the threats facing the state.

The removal of the provision to cap service at three years could provoke anger in the ranks, particularly among infantry soldiers who have been engaged in brutal combat on the front lines for more than two years with little respite.

Inna Sovsun, another opposition lawmaker, said she could not vote for the bill because the punishments for evading military service and the bonuses for those who enlisted were insufficient.

Soldiers on the front, many of whom have been fighting for more than two years, have been outspoken in expressing their frustration over the perceived lack of political will to find new soldiers to help ease their burden.

Ukraine’s struggle to replenish its ranks comes as combat forces are also grappling with shortages of ammunition and critical supplies.

One lawmaker, Iryna Friz, said the law allows recruits who sign contracts to choose their own units and creates additional leave and rewards for soldiers who destroy or capture enemy weapons or equipment.

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The U.S. Congress has not approved a new military aid package for Ukraine since October, and a proposal for $60 billion in military support has faced resistance from a faction of Republicans aligned with former President Donald J. Trump.

In contrast to Ukraine’s ammunition and personnel shortages, Russia has been able to recruit an estimated 30,000 new soldiers to fight in Ukraine every month, according to Ukrainian intelligence officials and Western military analysts.

The British military intelligence agency said the Kremlin was seeking to recruit 400,000 people in 2024 to sustain its forces in Ukraine.

The mobilization issue in Ukraine has been a point of contention between Mr. Zelensky and some of his military commanders, with the nation needing as many as 500,000 new recruits to counter the Russian threat.

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Is now the right time to invest in gold as prices have cooled?

Now may be the time to buy gold following a recent lull in its price.

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The price of gold has climbed to record highs recently and has remained strong through much of April. And, that growth continued until the precious metal traded at around $2,390 per ounce on April 19, 2024. But since, growth in the price of the precious metal has cooled, with gold’s price now hovering around $2,300 per ounce.

This lull in gold’s price may represent an investment opportunity.

In general, investing is centered around buying assets when prices are low and selling them when prices are high – generating a profit on the difference between the two. So, considering the declines in gold’s price over the past few days, now may be the time to make your investment. But is buying gold during this lull in prices really a good idea?

Compare your gold investment options among leading brokers now.

Gold prices have cooled. Should you buy in now?

With gold’s price down from recent highs, you may be wondering if now is the right time to buy in. There are several reasons the dip in gold’s price may represent an opportunity to buy. Here are some of the biggest:

Prices may rise again

If looking at a gold price chart shows anything for certain, it shows that changes in the overall growth of the medal come in fits and spurts. Periods of price growth are typically followed by periods of declines and vice versa.

But with inflation rising in recent months – and with gold’s reputation as a safe-haven asset that can hedge against inflation – it only makes sense that the price of the precious metal will eventually start to head up again in the future. While attempting to time that directional change may be tricky, buying the precious metal while the price is down gives you the opportunity to take advantage of any upward movement that may be ahead.

Add gold to your portfolio now before prices have a chance to rise.

You may be able to make a quick profit

Gold isn’t known as an asset in which you can earn a quick return, but in today’s market, that may be the case. Don’t forget that in January, gold was trading at just $2,000 per ounce. And, by mid-April, the commodity’s price had climbed to around $2,400 per ounce. That’s about 20% growth in a matter of months, much of which happened since March 1 – an impressive climb for any investment asset.

Perhaps more importantly, gold’s price growth through the beginning of 2024 shows that the commodity doesn’t have to be a buy and hold style investment that you keep in a safety deposit box or precious metal depository for years to come. There’s also the possibility that the commodity’s price could climb further ahead, making it a compelling way to potentially generate a quick profit.

There are other benefits of investing in gold

There are other benefits of investing in gold that have little to do with the price growth seen thus far in 2024 – or the lull in prices seen over the past couple of days. Those benefits include:

Inflation protection: Gold has long been considered an inflation hedge, and for good reason. When inflation drives the prices of consumer goods and services up – and the value of the dollar down – gold’s price tends to rise. So, it could be used to maintain the value of your portfolio during inflationary economic conditions. That’s important in today’s economic environment as stubborn inflation continues to weigh on the value of the dollar.
Portfolio diversification: Gold’s price doesn’t always move in the same pattern that bonds or stocks do. So, mixing a reasonable amount of gold into your portfolio (up to 10% of your portfolio assets) as a diversifier could protect you from losses should one or more of your traditional portfolio assets fall in value. “If you have less than 5% – 10% of your net worth in commodities & FX (forex), you should absolutely consider adding exposure to gold and other precious metals,” says Vijay Marolia, money manager and managing partner at the wealth management firm, Regal Point Capital.

The bottom line

Gold’s price has fallen from recent highs – which may represent an opportunity to tap into growth ahead. However, gold isn’t simply a “buy while it’s low and sell while it’s a high” kind of investment opportunity. The commodity can also protect your portfolio from the stubborn inflation we’ve seen thus far in 2024 while acting as a diversification tool that could increase your risk-adjusted portfolio returns. So, consider adding gold to your portfolio today while it has the potential to grow in value.

Joshua Rodriguez

Joshua Rodriguez is a personal finance and investing writer with a passion for his craft. When he’s not working, he enjoys time with his wife, two kids, two dogs and two ducks.