US to send Ukraine weapons through NATO

US President Trump has announced that a deal was struck with NATO to send weapons to Ukraine, with the military alliance bearing the brunt of the cost, reports The Hill. 

“We’re sending weapons to NATO, and NATO is paying for those weapons, 100 percent,” he said in a phone interview with NBC News. “So, what we’re doing is, the weapons that are going out are going to NATO, and then NATO is going to be giving those weapons to Ukraine, and NATO is paying for those weapons.”

The president added that the deal was struck in June at the NATO summit in The Hague.

Secretary of State Marco Rubio said the US is talking to multiple countries in Europe, including Spain and Germany that have Patriot batteries — a key element in the defense system used to intercept and destroy ballistic missiles — about sending them over to Kyiv. 

“Well, the Spaniards have them. They’re really far from Ukraine and they have one. The Germans have, others have them — I’m not singling them out, but I’m just telling you those are two that I know,” Rubio told reporters while in Malaysia after his meeting with Russian Foreign Minister Sergey Lavrov. “There are other Patriot batteries, and there are other opportunities.”

The conversation comes as the president intensified his criticism of Russian President Vladimir Putin in recent days, saying the two leaders have made “no progress” on brokering a potential ceasefire between Russia and Ukraine. Trump also said he does not think Putin is looking to halt the war in Eastern Europe, which has been ongoing since its invasion of Ukraine in 2022.

The Trump administration restarted sending some defense weapons to Ukraine on Monday, days after the Defense Department ordered a pause on delivering some air defense missiles and munitions, citing concerns of US stockpiles being depleted.

NATO Secretary-General Mark Rutte said he spoke with Trump on Thursday and has pushed allies within the alliance to send weapons to Ukraine. 

 

 

World does not need an emperor, says Lula

Developing nations at the BRICS summit on Monday brushed away an accusation from President Donald Trump that they are "anti-American," with Brazil's president saying the world does not need an emperor after the US leader threatened extra tariffs on the bloc, reports Reuters.

Trump's threat on Sunday night came as the US government prepared to finalize dozens of trade deals with a range of countries before his July 09 deadline for the imposition of significant "retaliatory tariffs."

The Trump administration does not intend to immediately impose an additional 10% tariff against BRICS nations, as threatened, but will proceed if individual countries take policies his administration deems "anti-American," according to a source familiar with the matter.

At the end of the BRICS summit in Rio de Janeiro, Lula was defiant when asked by journalists about Trump's tariff threat, "The world has changed. We don't want an emperor."

"This is a set of countries that wants to find another way of organizing the world from the economic perspective," he said of the bloc. "I think that's why the BRICS are making people uncomfortable."

In February, Trump warned the BRICS would face "100% tariffs" if they tried to undermine the role of the US dollar in global trade. Brazil's BRICS presidency had already backed off efforts to advance a common currency for the group that some members proposed last year.

But Lula repeated on Monday his view that global trade needs alternatives to the US dollar.

"The world needs to find a way that our trade relations don't have to pass through the dollar," Lula told journalists at the end of the BRICS summit in Rio de Janeiro.

"Obviously, we have to be responsible about doing that carefully. Our central banks have to discuss it with central banks from other countries," he added. "That's something that happens gradually until it's consolidated."

Other BRICS members also pushed back against Trump's threats more subtly.

South African President Cyril Ramaphosa told reporters that the group does not seek to compete with any other power and expressed confidence in reaching a trade deal with the US.

"Tariffs should not be used as a tool for coercion and pressuring," Mao Ning, the Chinese foreign ministry spokesperson said in Beijing. The BRICS advocates for "win-win cooperation," she added, and "does not target any country."

A Kremlin spokesperson said Russia's cooperation with the BRICS was based on a "common world view" and "will never be directed against third countries."

Many BRICS members and many of the group's partner nations are highly dependent on trade with the United States.

New member Indonesia's senior economic minister, Airlangga Hartarto, who is in Brazil for the BRICS summit, is to the US on Monday to oversee tariff talks, an official told Reuters.

Malaysia, which was attending as a partner country and was slapped with 24% tariffs that were later suspended, said that it maintains independent economic policies and is not focused on ideological alignment.

 

US action against Iran a threat to peace in Middle East, says Kallas

Potential military involvement by the United States in the wave of strikes between Israel and Iran would "definitely drag" the entire Middle East into a wider, more dangerous conflict, said Kaja Kallas.

Her warning came after Donald Trump openly suggested his country, a staunch backer of Israel, might take a hands-on approach to end the hostilities.

"We're not involved in it. It's possible we could get involved. But we are not at this moment involved," Trump told ABC News on Sunday. He later said the US would be "gloves off" if Iran were to "touch our troops".

"When it comes to the United States getting involved, then it will definitely drag the region into broader conflict. And this is in nobody's interest," Kallas said in Brussels after hosting a video conference with the EU's 27 foreign affairs ministers.

"And from my call with Secretary of State Rubio, he emphasized that it's also not in their interest to be drawn into this conflict," she added, referring to the conversation she had on Monday with her US counterpart.

"We are constantly pushing to stop this war because the risks of escalation and the risks of spillover effect are too great. Also, the risks of miscalculation, which is making this conflict even bigger."

Kallas also weighed in on Trump's stated goal of wanting a "real end" to the conflict that would see Iran giving up its nuclear program "entirely". The comments appeared to be at odds with the EU's long-held position of preventing Iran from developing nuclear weapons while permitting civilian uses.

The 2015 Joint Comprehensive Plan of Action (JCPOA), also known as the Iran nuclear deal, was designed to curtail the country's nuclear program and keep it exclusively peaceful in exchange for sanctions relief. But after Trump disavowed the deal in his first mandate, Iran began enriching uranium to levels that seemed to exceed any civilian purposes, causing worldwide alarm and condemnation.

Last week, the International Atomic Energy Agency (IAEA) found Iran was not complying with its non-proliferation obligations for the first time in 20 years.

"A diplomatic solution is the best way to address Iran's program in the long run, and Europe stands ready to play its part," Kallas said. "We cannot be lenient when Iran accelerates its nuclear program."

Following the video call with foreign affairs ministers, Kallas doubled down on her previous calls for maximum restraint and immediate de-escalation, without adding any new element that could expand the bloc's limited role in the Israel-Iran conflict.

The most concrete development was the activation of the EU's Civil Protection Mechanism, which is used to coordinate emergency assistance for natural disasters, such as wildfires and floods, and man-made crises, like wars.

"We have activated the Civil Protection Mechanism, and we are assisting member states to evacuate their citizens that wish to leave," Kallas said, noting that not all EU countries had the necessary planes to carry out the evacuations.

"In parallel, we stand ready to deploy civil protection experts, and our naval operation ASPIDES (in the Red Sea) continues to protect merchant ships from Houthi attacks while providing valuable situational awareness."

Kallas said the EU would not "let our focus on Gaza slip" and urged "immediate" and "full" access to humanitarian aid, which Israel has heavily restricted.

She refrained from providing details of the ongoing review of the EU-Israel Association Agreement and how the strikes against Iran might influence the discussions.

Kallas also struck down Russia's suggestion of playing the role of moderator in the Israel-Iran conflict, arguing the invasion of Ukraine was a disqualifying factor.

"Russia cannot be a mediator if they don't really believe in peace," she said.

Stocks plunge as Trump initiates trade war

Global stocks sunk, a day after US President Donald Trump announced sweeping new tariffs that are forecast to raise prices and weigh on growth in the United States and around the world, reports the Saudi Gazette.

Stock markets in the Asia-Pacific region fell for a second day, hot on the heels of the S&P 500, which had its worst day since Covid crashed the economy in 2020. Nike, Apple and Target were among big consumer names worst hit, all of them sinking by more than 9%.

At the White House, Trump told reporters the US economy would "boom" thanks to the minimum 10% tariff he plans to slap on global imports in the hope of boosting federal revenues and bringing American manufacturing home.

The Republican president plans to hit products from dozens of other countries with far higher levies, including trade partners such as China and the European Union.

China, which is facing an aggregate 54% tariff, and the EU, which faces duties of 20%, both vowed retaliation on Thursday. French President Emmanuel Macron called for European firms to suspend planned investment in the United States.

Tariffs are taxes on goods imported from other countries, and Trump's plan that he announced on Wednesday would hike such duties to some of the highest levels in more than 100 years.

In morning trading on Friday, Japan's benchmark Nikkei 225 index fell by 2.7% and Australia's ASX 200 was down by 1.6%. The Kospi in South Korea was flat to slightly lower. Markets in mainland China and Hong Kong were closed for the Qingming Festival.

Earlier on Thursday, the S&P 500 — which tracks 500 of the biggest American firms — plunged 4.8%, shedding roughly US$2 trillion in value. The Dow Jones closed about 4% lower, while the Nasdaq tumbled roughly 6%. The US shares sell-off has been going on since mid-February amid trade war fears.

Britain’s FTSE 100 share index dropped 1.5% and other European markets also fell, echoing declines from Japan to Hong Kong.

On Thursday at the White House, Trump doubled down on a high-stakes gambit aimed at reversing decades of US-led liberalization that shaped the global trade order.

"I think it's going very well," he said. "It was an operation like when a patient gets operated on, and it's a big thing. I said this would exactly be the way it is."

He added, "The markets are going to boom. The stock is going to boom. The country is going to boom."

Contradicting White House aides who insisted the new tariffs were not a negotiating tactic, Trump signalled he might be open to a deal with trade partners "if somebody said we're going to give you something that's so phenomenal".

On Thursday, Canada's Prime Minister Mark Carney said that country would retaliate with a 25% levy on vehicles imported from the US.

Trump last month imposed tariffs of 25% on Canada and Mexico, though he did not announce any new duties on Wednesday against the North American trade partners.

Firms now face a choice of swallowing the tariff cost, working with partners to share that burden, or passing it on to consumers — and risking a drop in sales.

That could have a major impact as US consumer spending amounts to about 10% to 15% of the world economy, according to some estimates.

While stocks fell on Thursday, the price of gold, which is seen as a safer asset in times of turbulence, touched a record high of US$3,167.57 an ounce at one point on Thursday, before falling back.

The dollar also weakened against many other currencies.

In Europe, the tariffs could drag down growth by nearly a percentage point, with a further hit if the bloc retaliates, according to analysts at Principal Asset Management.

In the US, a recession is likely to materialize without other changes, such as big tax cuts, which Trump has also promised, warned Seema Shah, chief global strategist at the firm. She said Trump's goals of boosting manufacturing would be a years-long process "if it happens at all".

"In the meantime, the steep tariffs on imports are likely to be an immediate drag on the economy, with limited short-term benefit," she said.

On Thursday, Stellantis, which makes Jeep, Fiat and other brands, said it was temporarily halting production at a factory in Toluca, Mexico and Windsor, Canada. It said the move, a response to Trump's 25% tax on car imports, would also lead to temporary layoffs of 900 people at five plants in the US that supply those factories.

Nike, which makes much of its sportswear in Asia, was among the hardest hit on the S&P, with shares down 14%. Shares in Apple, which relies heavily on China and Taiwan, tumbled 9%. Other retailers also fell, with Target down roughly 10%.

Motorbike maker Harley-Davidson – which was subject of retaliatory tariffs by the EU during Trump's first term as president – fell 10%.

In Europe, shares in sportswear firm Adidas fell more than 10%, while stocks in rival Puma tumbled more than 9%.

"You're seeing retailers get destroyed right now because tariffs extended to countries we did not expect," said Jay Woods, chief global strategy at Freedom Capital Markets, adding that he expected more turbulence ahead.

EU partially lifts sanctions on Syria

On Monday, foreign ministers of European Union (EU) decided to suspend a series of far-reaching sanctions against Syria to help the country's economic recovery and reconstruction after nearly 14 years of civil war.

According to Reuters, the Council decided to remove five financial entities (Industrial Bank, Popular Credit Bank, Saving Bank, Agricultural Cooperative Bank and Syrian Arab Airlines) from the list of entities subject to the freezing of funds and economic resources and to allow funds and economic resources to be made available to the Central Bank of Syria.

The EU has also suspended sectoral measures in the oil, gas, electricity, and transport sectors and introduced exemptions to the ban on banking relations between Syrian banks and financial institutions in the EU to facilitate transactions for humanitarian and reconstruction purposes, as well as for the energy and transport sectors.

The bloc will monitor the country’s situation to guarantee that suspensions remain appropriate with Kaja Kallas, the EU's top diplomat, stressing that "if everything does not go right, then we are also ready to put the sanctions back".

"Any kind of government needs to be all-inclusive and taking into account all the different groups that are in Syria,” she said.

Most of the EU's sanctions were imposed following Bashar al-Assad's violent crackdown on Syrian protesters in 2011, including broad restrictions on trade, financial transactions, and key industries such as energy and transport.

The sanctions led to the collapse of EU-Syria economic relations, with trade flows worth €396 million in 2023.

The regime of Bashar al-Assad was toppled in December last year by the Islamist group Hayat Tahrir al-Sham (HTS), which has since been calling for the lifting of wide-ranging sanctions to help the war-torn country's economy.

There have also been calls to remove HTS and its leader Ahmed al-Sharaa from international terrorist lists, but the Council decided to maintain such lists in relation to the al-Assad regime, as well as those on arms trafficking, dual-use goods, the chemical weapons sector, and illicit drug trafficking, among others.

The EU's blacklist, which was renewed in November, covers 318 individuals and 86 entities. All are subject to an assets freeze and a travel ban.

More than 90% of Syrians live below the poverty line and at least 16.5 million people across Syria rely on some form of humanitarian assistance to meet their basic needs, according to a report by the UN Office for the Coordination of Humanitarian Affairs (OCHA).

Last week, Human Rights Watch (HRW) warned that sweeping EU, US, and UK sanctions on Syria are hampering the country's economic recovery and preventing millions of Syrians from accessing essential services such as electricity, health care, water, and education.

“Rather than using broad sectoral sanctions as leverage for shifting political objectives, Western governments should recognize their direct harm to civilians and take meaningful steps to lift restrictions that impede access to basic rights,” said Hiba Zayadin, senior Syria researcher at HRW.

“A piecemeal approach of temporary exemptions and limited waivers is not enough. Sanctions that harm civilians should immediately be lifted, not refined,” Zayadin added.

Germany: Fragmented Political Landscape

Germans vote in a national election on Sunday which is expected to see Friedrich Merz's conservatives regain power and the far-right Alternative for Germany (AfD) score its best ever result as Europe's ailing economic powerhouse lurches rightwards, reports Reuters.

Merz's CDU/CSU bloc has consistently led polls but is unlikely to win a majority given Germany's fragmented political landscape, forcing it to sound out coalition partners.

Those negotiations are expected to be tricky after a campaign which exposed sharp divisions over migration and how to deal with the AfD in a country where far-right politics carries a particularly strong stigma due to its Nazi past.

That could leave unpopular Chancellor Olaf Scholz in a caretaker role for months, delaying urgently needed policies to revive Europe's largest economy after two consecutive years of contraction and as companies struggle against global rivals.

It would also create a leadership vacuum in the heart of Europe as it deals with a host of challenges, including US President Donald Trump's threats of a trade war and attempts to fast-track a ceasefire deal for Ukraine without European involvement.

Germany, which has an export-oriented economy and long relied on the US for its security, is particularly vulnerable.

Germans are more pessimistic about their living standards now than at any time since the financial crisis in 2008.

EU allies are cautiously hopeful the elections might deliver a more coherent government able to help drive forward policy at home and in the bloc.

Some also hope Merz will reform the "debt brake," a constitutional mechanism to limit government borrowing that critics say has strangled new investment.

The most likely outcome of this election, say analysts, is a tie-up of Merz's conservative bloc of Christian Democrats (CDU) and Christian Social Union (CSU) with the SPD, which is polling in third place in another uneasy "grand coalition".

"A lot of my friends are likely going to vote for the conservatives because this government didn't work so well and Merz's international standing is quite good," said Mike Zeller, 26, a civil servant.

"I just hope enough parties agree to a government so they can leave the AfD out."

 

 

 

EU to consider lifting sanctions on Syria

Reportedly, the European Union (EU) will meet on 24 February to discuss lifting sanctions on Syria. Internal European politics and concerns raised by Greece and Cyprus over Turkey's growing influence in the region could slow the process.

Speaking to Argus on the sidelines of the Munich Security Conference, representative for foreign affairs Kaja KallasKallas said the prospect of lifting sanctions on Syria looked promising.

France on February 14 convened an international conference on Syria in Paris, bringing together representatives from G7 nations, the EU, the UN, the Arab League, and the Gulf Cooperation Council.

The participants issued a final statement calling for support of Syria's political transition, but the US did not join that statement.

The US sources told Argus that the issues raised in the statement are things Washington has not decided on, since US president Donald Trump's administration is still formulating its policy regarding Syria.

Another source with knowledge of ongoing European talks on Syria said Greece and Cyprus are more reluctant to lift sanctions on Syria. Any EU action will have to be agreed upon by all of the bloc's members.

Both countries are leery of ties between Turkey and the Syrian Islamist group Hayat Tahrir al-Sham (HTS), the dominant faction in the new Syrian government.

Greece and Cyprus are worried about an oversized Turkish influence in the eastern Mediterranean following the collapse of the regime of Bashar al-Assad in December.

Sanctions remain one of the biggest obstacles to Syria's recovery.

Damascus has been struggling to secure crude and refined oil products through public tenders largely because of those sanctions.

Shipowners remain cautious about sending vessels there over concerns tankers being sanctioned or stranded.

Last month the US waived sanctions prohibiting energy trade with Syria, but the country is still under EU and British sanctions, which may have narrowed the pool for bidding.

 

Trump wants EU to buy more US oil and gas or face tariffs

According to Reuters, US President-elect Donald Trump said on Friday that the European Union (EU) may face tariffs if the bloc does not cut its growing deficit with the United States by making large oil and gas trades with the world's largest economy.

The EU is already buying the lion's share of US oil and gas exports, according to US government data, and no additional volumes are currently available unless the United States increases output or volumes are re-routed frm Asia - another big consumer of US energy.

"I told the European Union that they must make up their tremendous deficit with the United States by the large scale purchase of our oil and gas," Trump said in a post on Truth Social.

"Otherwise, it is tariffs all the way!!!," he added.

The European Commission said it was ready to discuss with the president-elect how to strengthen an already strong relationship, including in the energy sector.

"The EU is committed to phasing out energy imports from Russia and diversifying our sources of supply," a spokesperson said.

The United States already supplied 47% of the European Union's LNG imports and 17% of its oil imports in the first quarter of 2024, according to data from EU statistics office Eurostat.

Trump has vowed to impose tariffs on most if not all imports, and said Europe would pay a heavy price for having run a large trade surplus with the US for decades.

Trump has repeatedly highlighted the US trade deficit for goods, but not trade as a whole.

The US had a goods trade deficit with the EU of 155.8 billion euros (US$161.9 billion) last year. However, in services it had a surplus of 104 billion euros, Eurostat data shows.

Trump, who takes office on January 20, 2025 has already pledged hefty tariffs on three of the United States' largest trading partners - Canada, Mexico and China.

Most European oil refiners and gas firms are private and the governments have no say on where the purchases are coming from unless authorities impose sanctions or tariffs. The owners usually buy their resources based on price and efficiencies.

The EU has steeply increased purchases of US oil and gas following the block's decision to impose sanctions and cut reliance on Russian energy after Moscow invaded Ukraine in 2022.

The United States has grown to become the largest oil producer in recent years with output of over 20 million barrels per day of oil liquids or a fifth of global demand.

US crude exports to Europe stand at over two million bpd representing over a half of US total exports with the rest going to Asia. The Netherlands, Spain, France, Germany, Italy, Denmark, and Sweden are the biggest importers, according to the US government data.

The United States is also the world's biggest gas producer and consumer with output of over 103 billion cubic feet per day (bcfd).

The US government projects that US exports of liquefied gas (LNG) will average 12 bcfd in 2024. In 2023, Europe accounted for 66% of US LNG exports, with the Britain, France, Spain and Germany being the main destinations.

EU exports are dominated by Germany with key goods being cars, machinery and chemicals.

 

Macron calls for a new international order

French President Emmanuel Macron on Sunday urged the need for “a new international order” following the ongoing war in Ukraine.

Speaking at the "Meeting for Peace" organized by the Catholic Sant'Egidio community in Paris, he called on European leaders to prepare for a post-war reality that reevaluates the continent's organizational framework.

"We must be imaginative enough to think about the peace of tomorrow, a peace in Europe in a new form," Macron stated, advocating for an inclusive vision that transcends the current structures of the EU and NATO.

He emphasized the importance of a broader approach to cooperation and peace building, particularly concerning the Balkans and Europe’s geographical realities.

Macron criticized existing institutions like the UN, World Bank, and International Monetary Fund (IMF) for not adequately reflecting the modern world.

"Our order today is incomplete and unjust. Many of the most populated countries did not exist when the seats were distributed," he remarked.

Addressing past criticisms of his approach to Russia, Macron reiterated the necessity of reconciling relations with the nation, albeit within a new organizational framework. He stressed that Europe needs to "rethink" its interactions with Russia in light of the ongoing conflict in Ukraine.

In May 2022, shortly after the war began, Macron faced backlash for stating that Russia should not be "humiliated." His recent hesitance to rule out sending French troops to Ukraine has also drawn Western criticism.

Looking ahead, Macron plans to present his concerns at the UN General Assembly, advocating for global reforms to create “fairer” and more inclusive international institutions. “I will come back to this this week at the UN,” he stated, highlighting the urgency of these reforms.

In addition to addressing European security, Macron commented on the escalating conflicts in the Middle East, particularly in Gaza. He stressed that peace must be rooted in “coexistence” and the recognition of all individuals' rights to live peacefully.

As the situation in Gaza deteriorates, Israel’s offensive has resulted in over 41,400 deaths, primarily among women and children, and more than 95,800 injuries, according to local health authorities.

The conflict has displaced nearly the entire population of the territory, exacerbated by a blockade leading to severe shortages of essential supplies. Israel faces a genocide case at the International Court of Justice for its actions in Gaza.

Trans-Caspian International Transport Route

Reflecting new geopolitical and economic realities

The ongoing Russian-Ukrainian conflict and security issues in the Red Sea due to Houthi attacks have pushed European countries to seek alternative trade routes to China, avoiding Russia, the Red Sea, and the Suez Canal.

The focus has shifted to the Middle Corridor, or Trans-Caspian International Transport Route (TITR), a key land-sea-rail trade route linking China with Europe.

In 2023, China was the EU's third-largest export partner and a major source of imports. Germany, France, and the Netherlands lead in EU exports to China.

The Middle Corridor spans 4,256 kilometers and includes both land and sea routes. It starts in Kashgar, China, travels through Kyrgyzstan and Uzbekistan to Türkmenbaşy on the Caspian Sea, and then moves through Azerbaijan, Georgia, and Turkey before reaching Europe.

This route is faster compared to the Northern Corridor through Russia, which covers about 10,000 kilometers and takes 15 days, whereas the Southern maritime route via the Red Sea and the Suez Canal is around 20,000 kilometers and takes 45-60 days.

The World Bank reported an 88% increase in cargo volume on the TITR in early 2023, highlighting its growing importance.

Central Asia, a geostrategic hub, has been bolstering infrastructure and aligning with China and the West for investment and development.

The region's significance has grown, especially after the United States withdrawal from Afghanistan and increased competition among Russia, China, the United States, and the European Union. President Biden's meeting with Central Asian leaders in September 2023 underscored this shift.

The US is promoting the C5+1 Dialogue to exploit the region’s mineral wealth, while Japan is also increasing its engagement, with plans for a summit in August 2024 and potential projects in renewable energy.

The EU, a major donor and investor in Central Asia, has intensified its involvement as the region seeks to diversify from Russia and China.

In June 2023, EU President Charles Michel visited Kyrgyzstan for the Second EU-Central Asia Summit, and in June 2024, Kyrgyzstan signed the Enhanced Partnership and Cooperation Agreement (EPCA) with the EU.

This agreement, replacing the old Partnership and Cooperation Agreement, aims to deepen ties in trade, investment, and various sectors, reflecting new geopolitical and economic realities.

China to target pork from European Union

China has announced an anti-dumping investigation into certain pork products imported from the European Union. The move on Monday follows the EU’s decision last week to raise tariffs on Chinese EVs by up to 38% from July 04, 2024.

The products under investigation include fresh, cold and frozen pork; pork offal; pig fat without lean meat; as well as pig intestines, bladders and stomachs, according to China’s Ministry of Commerce (Mofcom).

The investigation period on import dumping from between January 01 to December 31 of last year, while the period for evaluating industrial damage covers four years from the first day of 2020 to the last day of 2023, the ministry said.

Starting from Monday, the investigation should last no more than a year, but it could be extended for a further six months, Mofcom added.

The investigation was said to be initiated in response to a formal application from the China Animal Agriculture Association, which represents the domestic pork industry and requested an anti-dumping investigation into imported pork from the EU on June 06, 2024.

“After receiving the application, the investigation agency reviewed the application in accordance with relevant Chinese laws and regulations and in compliance with World Trade Organization rules,” a Mofcom spokesperson said on Monday.

“It believed that the application met the conditions for filing an anti-dumping investigation and decided to launch an investigation.

“The investigation agency will conduct investigations in accordance with the law, fully protect the rights of all interested parties, and make objective and fair rulings based on the investigation results.”

Russian oil exports growing despite sanctions

Russian oil export revenues surged to US$17.2 billion in March 2024, driven by higher global oil prices and increased crude export volumes, according to the April ‘Russian Oil Tracker’ by KSE Institute.

Despite robust US Treasury sanctions targeting the shadow fleet, Russia continues to expand it by incorporating new tankers, allowing for stable exports and further evasion of oil price cap.

Russian seaborne oil exports rose by 4% in March, driven by a 12% increase in crude oil shipment to more than 400,000 barrels per day, while exports of oil products declined by 6%. Notably, India saw a 3% increase in Russian crude imports to 1,445,000 barrels per day, maintaining its position as the top importer of Russian crude oil. Meanwhile, Turkey has been meeting around two-thirds of its oil demand through Russian oil products imports, with total imports exceeding 800,000 barrels per day since November 2023.

However, only 36% of Russian oil exports were shipped by IG-insured tankers. For other shipments, Russia utilized its shadow fleet. It was responsible for exports of 2.8 million barrels per day of crude and 1.1 million barrel per day of oil products in March.

Specifically, 223 loaded non-IG-insured tankers left Russian ports, with 2 engaged in STS transfers in March 2024. With 85% of these tankers aged over 15 years, the risk of oil spills at sea is heightened—a potential catastrophe for which Russia would likely refuse to pay.

The US Treasury’s strategy of designating individual vessels effectively removes shadow tankers from regular commercial service. As of April 12, 2024, out of 41 sanctioned vessels, 37 were unloaded and not scheduled for further voyages, while 3 were completing their current voyages in line with the OFAC authorization.

One vessel provides coastal shuttle services violating OFAC’s sanctions but only within the Black Sea. On April 04, OFAC also sanctioned Oceanlink Maritime Dmcc and its 13 tankers for its ties with Iran but 7 of these 13 tankers also shipped Russian crude without IG P&I insurance.

Russia managed to expand its shadow tanker fleet, adding 35 new tankers to replace 41 tankers added to OFAC’s SDN list since December 2023. These tankers, all over 15 years old, are managed outside the EU/G7. Nine of them were directly involved in loading Iranian oil in Iran or through STS operations in 2021-2023, as per Kpler.

Russia also continues to evade shadow fleet sanctions by transferring sanctioned tankers to new entities. For instance, when four UAE-registered shipping companies, sanctioned by the UK, passed tankers to other Emirati firms, they continued commercial operations under new management. Similarly, Stream Ship Management Fzco became the top shipper of Russian crude oil after acquiring tankers previously managed by Oil Tankers Scf Mgmt Fzc, sanctioned by the OFAC.

UAE, Chinese and Greek ship managers have played a leading role in transporting Russian crude. In March 2024, eight of the top ten shippers of Russian crude were registered in the UAE or China.

As for Russian oil products exports, Greek companies dominated the top shippers, although Modern Gemi Isletmeciligi As (Turkey) and Oil Tankers Scf Mgmt Fzco (UAE) led the list in March.

KSE Institute projects Russian oil revenues to reach US$175 billion and US$152 billion in 2024 and 2025 under the base case with current oil price caps and stronger sanctions enforcement. However, if sanctions enforcement is weak, Russian oil revenues could increase, reaching US$206 billion in 2024 and US$195 billion in 2025.

The Q4 2023 data suggest that problems with price cap implementation and enforcement are much bigger than previously expected. To ensure that sanctions continue to constrain Russia’s ability to wage its war of aggression on Ukraine—and that their credibility is maintained—additional steps urgently need to be taken. Below, we outline three critical measures that can quickly and effectively address Russian effort to evade sanctions on its oil exports.

1. G7/EU countries should ensure that their authorities have sufficient proof of compliance with the price cap, including by: a) leveraging the involvement of G7/EU financial institutions in the Russian oil trade and their knowledge of key transaction details such as prices; b) requiring attestations to be provided by reputable entities defined via transparent criteria and subject to sanctions in the case of violations or their facilitation; and/or c) stepping-up of documentary evidence requirements for G7/EU service providers under the current system (including original sales contracts, etc.).

2. EU coastal states should leverage geographical “choke points” to limit Russia’s use of a “shadow fleet” of tankers by requiring proper spill insurance for vessels’ passage through their territorial waters, including in the Baltic Sea and Mediterranean. This would force Russia to rely once again on G7/EU services for a substantial share of its exports and also help address environmental risks that have emerged due to the increasing use of old and under-insured tankers. For this purpose, a system to allow for timely and efficient verification of insurance information should be established.

3. Price cap coalition countries should step up penalties on entities that violate the price cap. For G7/EU companies, this should include tougher monetary penalties and expanded lockout periods. For third-country actors, price cap coalition countries should impose “direct” sanctions (e.g., SDN listing in the United States or use of the European Union’s anti-circumvention tool established in the 11th package) and consider the application of extraterritorial (“secondary”) sanctions, leveraging the continued critical importance of its financial system for internationally operating businesses.

 

Indian spice manufacturers under scrutiny

Two of India's packaged spice manufacturers are under regulatory scrutiny in several countries after their products were allegedly found to contain carcinogenic elements, barely a year after cough syrups made in the South Asian nation were linked to the deaths of over 140 children in Africa.

Countries like Australia, New Zealand and the United States are weighing investigations into the packaged spices made by the companies after Hong Kong authorities raised a red flag over their quality.

This isn’t the first time that the two — among the largest companies in India — have faced these kinds of issues, with the US Food and Drug Administration ordering a recall of Everest spice mixes in 2023 and some MDH products in 2019, both due to salmonella contamination.

The Centre for Food Safety (CFS) in Hong Kong said in a statement on April 05, 2024 that it found ethylene oxide (ETO), a pesticide that can cause cancer if consumed in large amounts, in three types of packaged spices manufactured by MDH and one made by Everest. The products were taken off the shelves and recalled, the CFS said.

Taking its cue from the Hong Kong authorities, the Singapore Food Agency (SFA) a couple of weeks later recalled the Everest Fish Curry Masala product, saying in a statement that consumers who had purchased it were advised not to consume it.

The SFA also said, “As the implicated products in Hong Kong were imported into Singapore, the SFA has directed the importer to recall the products.” The agency clarified that although there is no immediate risk to consumption of food contaminated with low levels of ethylene oxide, long-term exposure may lead to health issues.

India’s Spice Board, a government agency that oversees spice exports, said that the limit for ETO varies between countries, from 0.02 milligram per kilogram of spices in places like the UK and Norway to 7 milligram per kilogram in Canada and the US.

Pesticides are widely used in agriculture in India, often leaving traces in food products. According to Indian government estimates, the cultivated area where chemical pesticide is used grew 33.4% from the fiscal year ending March 2019 to fiscal 2023, reaching 108,216 hectares. That was about seven times the area cultivated with biopesticides in 2023.

“We tend to look critically at the end product, but even more rigor is needed at the level of the ingredients,” said Devangshu Dutta, CEO at consultancy firm Third Eyesight, referring to the use of pesticides in cultivation. “Otherwise, we will end up kind of catching the product at the last point of control, which is not enough.”

Hong Kong and Singapore did not disclose the amount of ETO content in the recalled products. MDH and Everest had not responded to requests for comment by the time of publication.

Authorities elsewhere have also taken note of the allegations. “Food Standards Australia New Zealand is working with our international counterparts to understand the issue with federal, state and territory food enforcement agencies to determine if further action is required in Australia, e.g., a food recall,” the agency told Nikkei Asia in an email statement on Wednesday.

The regulatory scrutiny in the US, Australia, New Zealand, Hong Kong and Singapore, raises questions over an export market worth about US$700 million, research firm Global Trade Research Initiative (GTRI) said in a report on Wednesday.

“Swift investigations and the publication of findings are essential to re-establish global trust in Indian spices,” GTRI said, adding that the “lack of clear communication from government agencies is disappointing.”

Indian food has been under scrutiny in Europe as well. The European Commission Rapid Alert System for Food and Feed estimates that since the beginning of 2023, Indian food products were deemed to pose serious risks in 166 instances. These included nine cases of ethylene oxide found in food supplements and spices in countries including Sweden, Greece and Italy.

The recalls come at a time when New Delhi is rolling out incentives to support local manufacturers and exporters in transforming India into a US$5 trillion economy. India is the world’s largest exporter of spices with shipments worth US$3.9 billion in 2023, followed by Vietnam and Mexico, according to data provider Tendata. Those figures give India a market share of 37.2%, with Vietnam at 28.1% and Mexico at 9.6%.

Poor food quality in India stems from a general lack of awareness about food safety and insufficient resources to track ingredients, among other reasons, said US-based food and beverage consultancy AIB International in a report in October.

The Food Safety and Standards Authority of India found 16,582 samples unsafe in the fiscal year 2022, the latest such data available. That was a threefold jump from the previous year.

“Most of the food and beverage manufacturers in India are focused on reducing costs to make their product affordable to the public,” the report said. “As a result, many cannot prioritize food safety as a pillar of their business because it could prevent them from meeting their profit margins.”

“Food manufacturing and processing facilities can lack the resources to maintain proper hygiene,” it noted, adding that food-borne illnesses in India is estimated to top 100 million every year.

Reuters busy in soliciting support for Israel

Iran's Islamic Revolutionary Guards Corps said it launched dozens of drones and missiles at Israel on Saturday, in an attack that could lead to a major escalation between the regional archenemies. Here are some of reactions put together by Reuters, world’s leading news agency. The point worth noting is that no comment from any Muslim country has been included.

Israeli Prime Minister

"In recent years, and especially in recent weeks, Israel has been preparing for a direct attack by Iran. Our defensive systems are deployed; we are ready for any scenario, both defensively and offensively. The State of Israel is strong. The IDF is strong. The public is strong.

"We appreciate the US standing alongside Israel, as well as the support of Britain, France and many other countries. We have determined a clear principle: Whoever harms us, we will harm them. We will defend ourselves against any threat and will do so level-headedly and with determination."

Iranian mission to UN

"... Iran’s military action was in response to the Zionist regime’s aggression against our diplomatic premises in Damascus. The matter can be deemed concluded.

"However, should the Israeli regime make another mistake, Iran’s response will be considerably more severe. It is a conflict between Iran and the rogue Israeli regime, from which the US must stay away"

US President

"I just met with my national security team for an update on Iran’s attacks against Israel. Our commitment to Israel’s security against threats from Iran and its proxies is ironclad."

US House Speaker

"As Israel faces this vicious attack from Iran, America must show our full resolve to stand with our critical ally. The world must be assured: Israel is not alone."

UN Secretary General

"I strongly condemn the serious escalation represented by the large-scale attack launched on Israel by the Islamic Republic of Iran this evening. I call for an immediate cessation of these hostilities.

"I am deeply alarmed about the very real danger of a devastating region-wide escalation. I urge all parties to exercise maximum restraint to avoid any action that could lead to major military confrontations on multiple fronts in the Middle East.

"I have repeatedly stressed that neither the region nor the world can afford another war."

British Prime Minister

"I condemn in the strongest terms the Iranian regime’s reckless attack against Israel. These strikes risk inflaming tensions and destabilizing the region. Iran has once again demonstrated that it is intent on sowing chaos in its own backyard.

"The UK will continue to stand up for Israel’s security and that of all our regional partners, including Jordan and Iraq. Alongside our allies, we are urgently working to stabilize the situation and prevent further escalation. No one wants to see more bloodshed.”

Canadian Prime Minister

"Canada unequivocally condemns Iran’s airborne attacks against Israel. We stand with Israel. After supporting Hamas’ brutal October 07 attack, the Iranian regime’s latest actions will further destabilize the region and make lasting peace more difficult.

"These attacks demonstrate yet again the Iranian regime’s disregard for peace and stability in the region. We support Israel’s right to defend itself and its people from these attacks."

German Foreign Minister

"Iran has fired drones and missiles at Israel. We strongly condemn the ongoing attack, which could plunge an entire region into chaos. Iran and its proxies must stop this immediately. Israel offers our full solidarity at this time."

German Ambassador to Israel

"Germany’s solidarity is with all Israelis tonight whom Iran is terrorizing with this unprecedented and ruthless attack: Jews as well as Arabs and Christians, the Bedouins in the Negev as well as the Druze in the Golan. May they all be safe.”

French Foreign Minister

"France condemns in the strongest terms the attack launched by Iran against Israel. By deciding on such an unprecedented action, Iran is taking a new step in its destabilizing actions and taking the risk of a military escalation."

European Union Foreign Policy Chief

"The EU strongly condemns the unacceptable Iranian attack against Israel. This is an unprecedented escalation and a grave threat to regional security."

European Council President

"Strongly condemn the attack launched by Iran on Israel. Everything must be done to prevent further regional escalation. More bloodshed must be avoided. We will continue to follow the situation closely with our partners."

Spanish Prime Minister

"We are following events in the Middle East with the deepest concern. We are in permanent contact with our embassies in the region which will remain open to support Spaniards in the area.”

Dutch Prime Minister

"Very worrying situation in the Middle East. Earlier today, the Netherlands and other countries sent a loud and clear message to Iran to refrain from attacking Israel. The Netherlands strongly condemns Iran's attacks on Israel. Further escalation must be prevented. ... We continue to monitor developments very closely."

Danish Foreign Minister

"Denmark strongly condemns Iran's announced attack on Israel. I urge everyone to show restraint and deescalate the situation. Iran’s destabilizing role in the Middle East is unacceptable - and so is this attack."

Norwegian Foreign Minister

"I condemn the illegal and dangerous Iranian attack underway against Israel. This will further deteriorate an already extremely volatile situation. We must prevent further escalation of violence in the Middle East. I call upon all parties to exercise maximum restraint."

Czech Republic Foreign Minister

"Czechia firmly condemns the destabilizing behavior of Iran and its proxies who decided to attack Israel. We reiterate the Israeli right for self-defense. Iran’s long term aggressive behavior is preventing the Middle East region to live in peace and security."

Columbian President

"It was predictable; we're now in the prelude to World War III precisely when humanity should rebuild its economy towards the rapid goal of decarbonization. The support of the US, in practice, for a genocide, has ignited the world. Everyone knows how wars start, no one knows how they end. If only the people of Israel were high enough, like their ancestors, to stop the madness of their ruler. The United Nations must meet urgently and must immediately commit to peace."

Argentina President

"The office of President Javier Milei expresses its solidarity and unwavering commitment to the State of Israel following the attacks by the Islamic Republic of Iran. The Republic of Argentina recognizes the right of State-Nations to defend themselves and strongly supports the State of Israel in the defense of its sovereignty, in particular against regimes that promote terror and seek the destruction of western civilization."

Paraguay President

"In such difficult times, we express our full support for the people of Israel, and are concerned about the increase of violence in the region. We remain in contact with our embassies in the region to serve our compatriots."

Chilean President

"We express our concern about the serious escalation of tensions in the Middle East and the Iranian attacks against Israel. Chile condemns the use of force and defends international humanitarian law, which protects civilian lives in armed conflicts."

Mexican Foreign Ministry

"The government of Mexico expresses deep concern over Iran's attack against Israeli territory, and the impact that this could have on thousands of human lives. Mexico condemns the use of force in international relations, and calls on the parties to self-restrain and seek solutions peacefully to avoid a more general conflict in the Middle East. Mexico also emphasizes the importance of respecting international law for the sake of international peace and security."

 

 

Iran Conundrum

Eurasia group analyst Gregory Brew said Khamenei was "trapped in a strategic conundrum".

"Iran must respond to restore deterrence and maintain credibility among its Resistance Front allies. But on the other hand, retaliating to restore deterrence would likely bring an even greater, and more destructive Israeli response, likely with US assistance," he said.

The Iranian sources said the United States had asked Iran to exercise restraint and allow space for diplomacy, cautioning Tehran that in the event of a direct attack it will stand by Israel.

Iran believes Netanyahu aims to draw Tehran into a war; therefore its retaliation could be a restrained one that avoids direct strikes on Israeli territory and may draw on Tehran's allies.

Reportedly, the US Middle East envoy has called the foreign ministers of Saudi Arabia, UAE, Qatar and Iraq to ask them to deliver a message to Iran urging it to lower tensions with Israel.

A source familiar with the issue said the US might well agree to revived nuclear talks if that could prevent a conflagration.

“If we are talking about talks and not (about) reaching an agreement, then it would seem to be well worth the price if the payoff is minimizing the risk of a regional escalation into which the US would be dragged,” said the source, who spoke on condition of anonymity.

Ali Vaez of International Crisis Group said Iran’s dilemma was "to figure out how to retaliate in a way that it saves face without losing its head".

"Israel is much more unpredictable than the US," he said. "The Supreme Leader is clearly concerned that rather than delivering the deterrent effect he might hope to achieve, an attack on Israel may only fuel a counter-escalation he might have hoped to avoid."

 

Pakistan exports to European Union states fall

Pakistan’s exports to European countries have fallen in the current fiscal year despite a GSP+ status that allows duty-free entrance into European markets for the majority of its products.

In absolute terms, Pakistan’s exports to European countries dipped 6.89%YoY in the first eight months of the current fiscal year to US$5.411 billion from US$5.812 billion in the corresponding period last year.

The decline was mainly attributed to reduced demand for Pakistani goods in western, southern and northern Europe.

In FY23, exports to the EU had dropped 4.4% to US$8.188 billion from US$8.566 billion a year ago.

In October 2023, the European Parliament unanimously voted to extend the GSP+ status for another four years until 2027 for developing countries, including Pakistan, to enjoy duty-free or minimum duty on exports to the European market.

Western Europe, which includes Germany, the Netherlands, France, Italy and Belgium, accounts for the largest portion of Pakistan’s exports to the EU.

There has been a significant decrease of 13.2% in exports to this region. The export value was reported at US$2.609 billion in the first eight months of FY24, down from US$3.006 billion during the same period last year.

While exports to western, southern and northern Europe have seen a decline, there is a silver lining in the form of an uptick in exports to Eastern Europe. The exports saw an increase of 8.2% to US$407.6 million in 8MFY24 against US$376.68 m over the corresponding months of last year.

Exports to southern Europe saw a paltry decline of 1.1% to US$1.971 billion in 8MFY24 from US$1.993 billion over the corresponding period of last year. Exports to Spain grew 4.66% to US$966.95 million in 8MFY24 from US$923.85 million a year ago.

Exports to Italy declined 3.36% to US$733.79 million from US$759.36 million.

Exports to northern Europe have not done well, recording a 3.04% dip. The export to this region was reported at US$423.732 million, down from US$437.03 million in the corresponding period last year.

Before Brexit, Pakistan’s major export destination was the United Kingdom. In the post-Brexit period, Pakistan’s exports to the UK slightly went up to US$1.351 billion in 8MFY24 from US$1.329 billion.

In FY23, Pakistan’s exports had dipped by 10.63% to US$1.966 billion to the UK from US$2.20 billion a year ago.

The British government has assured Islamabad of no change in the post-Brexit scenario which is evident from the inclusion of Pakistan in its preferential market access scheme.

Growing number of countries ready to recognize Palestine

The leaders of Spain, Ireland, Slovenia and Malta have announced they stand ready to recognize the State of Palestine as the only way to achieve peace and security in the war-ridden region.

The four leaders gathered on the margins of a summit in Brussels on Friday to discuss their readiness to recognize Palestine, adding they stand ready to do so when it can make a positive contribution and the circumstances are right.

“We are agreed that the only way to achieve lasting peace and stability in the region is through implementation of a two-state solution, with Israeli and Palestinian States living side-by-side, in peace and security,” a joint statement by the four heads of government reads.

Speaking after the summit, Slovenian Prime Minister Robert Golob said he believed a lot could be done in the next week to strengthen political backing for a Palestinian state in the United Nations. Golob added he was sure that the moment when conditions for establishing a new government in Palestine will be ripe could be a few weeks, maybe a month away.

Nine of the EU’s 27 member states currently recognize Palestinians’ right to a state according to the so-called 1967 borders, which includes the West Bank, the Gaza Strip and East Jerusalem.

Malta, along with eastern states such as Bulgaria, the Czech Republic, Romania and Slovakia, have recognized the Palestinians’ right to statehood since 1988. In 2014, Sweden became the first member state to unilaterally recognise Palestinians’ right to statehood while a member of the bloc.

The Slovenian premier confirmed a representative also attended the meeting on behalf of the Belgian government, seen as another staunch supporter of Palestinians’ fight for statehood.

Belgium currently holds the 6-month rotating Presidency of the Council of the EU, responsible for overseeing its work and therefore likely restricted from signing such declarations.

Although the European Union supports the two-state solution – which would deliver statehood for Palestinians – and is the single biggest donor of aid to Palestinians, it has not yet unanimously backed the recognition of a Palestinian state.

“The debate on the recognition of Palestine was not on the table,” European Council President Charles Michel explained on Friday.

“But I will share with you what I think about it. I think that if the idea is to start a kind of process so it’s possible to take into account steps that could be made on both sides – by the Palestinian Authority, for instance, and by Israel – then it could be a useful process.”

Since the outbreak of the war in Gaza, both Ireland and Spain have repeatedly expressed readiness to recognize Palestine, and spearheaded efforts to toughen the EU’s stance on Israel in response to the excessive loss of life in Gaza.

In a breakthrough on Thursday, the EU’s 27 leaders unanimously called for a ceasefire in Gaza for the first time since the outbreak of the war between Israel and Hamas.

Last November, Spanish Prime Minister Pedro Sánchez vowed that his newly formed government would make the recognition of Palestinian statehood its main priority in terms of foreign policy.

Speaking after the Brussels summit on Friday, Sánchez suggested to reporters that Spain preferred to move in lockstep with other EU countries rather than recognizing a Palestinian state unilaterally, an idea it has flirted with in the past.

“We want to take this step united. It’s a decisive step in order to lay the foundations of a lasting peace,” he said, adding that the EU should carefully calibrate the right moment to take the step.

Sánchez also suggested that the fact the four leaders represented all sides of the political spectrum – with Spain and Malta governed by centre-left parties, Slovenia by a Liberal party, and Ireland by a centre-right party – showed there was broad political consensus that the recognition of Palestine is necessary for any future peace process.

In February, Irish Taoiseach Leo Varadkar also confirmed a group of member states were in talks to formally recognize Palestine to enable a more equal negotiation to happen when the war raging in Gaza comes to an end.

 

Putin’s victory attracts mixed reactions

Western governments lined up on Monday to condemn Vladimir Putin's landslide election victory as unfair and undemocratic, but China, India and North Korea congratulated the veteran Russian leader on extending his rule by a further six years.

The contrasting reactions underscored the geopolitical fault lines that have gaped wider since Russia launched a full-scale invasion of Ukraine two years ago, triggering the deepest crisis in relations with the West since the end of the Cold War.

Arriving in Brussels on Monday, EU foreign ministers roundly dismissed the election result as a sham ahead of agreeing sanctions on individuals linked to the mistreatment and death of Kremlin critic Alexei Navalny.

"Russia's election was an election without choice," German Foreign Minister Annalena Baerbock said at the start of the meeting.

Playing on Moscow's reference to its war in Ukraine as a special military operation, French Foreign Minister Stephane Sejourne said Paris had taken note of the special election operation.

"The conditions for a free, pluralistic and democratic election were not met," his ministry said.

British Foreign Secretary David Cameron said the election outcome highlighted the depth of repression in Russia.

"Putin removes his political opponents, controls the media, and then crowns himself the winner. This is not democracy," Cameron said.

France, Britain and others condemned the fact that Russia had also held its election in occupied regions of Ukraine that it claims to have annexed during the war.

The Kremlin dismissed such criticism, saying the 87% of the vote won by Putin during the three-day election showed that the Russian people were consolidating around him.

Ukrainian President Volodymyr Zelenskiy said Russia's election had no legitimacy.

A White House spokesperson on Sunday said Russia's election was obviously not free nor fair. President Joe Biden has not yet commented.

In sharp contrast, Chinese President Xi Jinping congratulated Putin, and said Beijing would maintain close communication with Moscow to promote the no limits partnership they agreed in 2022, just before Russia invaded Ukraine.

"I believe that under your leadership, Russia will certainly be able to achieve greater achievements in national development and construction," Xi told Putin in his message, according to Xinhua News.

Indian Prime Minister Narendra Modi echoed that message, saying he looked forward to strengthening New Delhi's time-tested special and privileged strategic partnership with Moscow.

India and China, along with Russia, are members of the BRICS group of emerging economies that aims to challenge US domination of the global economy.

North Korean leader Kim Jong Un and Iran's President Ebrahim Raisi, accused by the West of supplying weapons to Russia, also extended congratulations to Putin, stressing their desire for further expansion of bilateral relations with Moscow.

In Africa, where the West has been struggling to win support for its efforts to isolate Moscow over the Ukraine war, some newspapers saw Putin's re-election as reinforcing the stance of Burkina Faso, Mali and Niger.

Those three states in the Sahel region have strengthened ties with Russia following coups in recent years at the expense of their traditional French and US allies.

"In Africa, this re-election could sound like a non-event, but given the context in the Sahel it takes on a particular meaning, because Putin embodies the new geopolitical balance of power on the continent with a growing (Russian) presence and influence," said Burkina Faso daily Aujourd'hui au Faso".

 

 

Bangladesh: Apparel export to EU falls 20%

Bangladesh’s apparel exports to the European Union (EU) in the 11 months, from January to November 2023, declined by 19.92% to 16.26 billion euro from 20.30 billion euro during the same period of 2022.

Exporters said that the shipment of readymade garments to the EU market decreased in recent months due to the economic slowdown caused by the Russia-Ukraine war.

Global brands and buyers also placed orders in lower quantity due to the election time in Bangladesh but the orders started to increase after the national election in the country.

They hoped that the export to EU would rebound in the next quarter as buyers started to increase their orders thanks to easing inflation.

According to data from Eurostat, the statistical office of the European Union, the readymade garment imports of the EU from the world in January-November 2023 fell by nearly 10% cent to 82.71 billion euro from 91.89 billion euro during the same period of 2022.

Apparel imports of the EU from China in the first 11 months of 2023 declined by 21.42% to 21.15 billion euro from 26.92 billion euro during the same period of 2022.

Although China remained the top apparel exporter to the EU in value, the Eurostat data showed that, in terms of volume, Bangladesh emerged as the highest knitwear exporter to the market in January-November 2023.

Bangladesh’s woven garment exports to the EU in the first 11 months of 2023 were reported at 6.89 billion kilogram while those of China were 5.74 billion kilogram.

In value terms, Bangladesh’s knitwear exports to the EU in January-November of 2023 were reported at 9.94 billion euro against China’s exports of 10.48 billion euro during the period under review.

Bangladesh Garment Manufacturers and Exporters Association President Faruque Hassan recently said that apparel exports to the EU would come back on a positive track in the second quarter of 2024 as the inflation was coming down in the western countries and retail sales were getting better.

He also said that not only Bangladesh but also all the major RMG suppliers witnessed negative growth in the EU and the United States as the global demand decreased due to the economic turmoil.

Apparel imports of the EU from Turkey in January-November of 2023 declined by 13.42% to 9.20 billion euro from 10.62 billion euro during the same period of 2022.

India’s RMG exports to the EU in the first 11 months of 2023 also fell by 11.87% to 3.81 billion euro from 4.33 billion euro during the same period of 2022.

As against this, apparel imports of the EU from Vietnam during January-November of 2023 grew by 2.48% to 3.49 billion euro from 3.40 billion euro during the same period of 2022.

Naftali Bennett openly inviting the US and others to attack Iran

It’s time for the peoples of the West to wake up to the reality that Israel is not their friend. In fact, Israel is their enemy.

For the West, Israel is now a strategic liability. Israel’s leaders would readily sacrifice their interests to achieve its goals of ethnically cleansing Palestine and dominating the Middle East.

Israel’s former PM and unrepentant war criminal Naftali Bennett is now openly demanding that the United States and its allies to attack Iran. Not only would a war with Iran cause devastating death and destruction, it would also result in massive damage to the global economy and consume huge amounts of public money that could be used to better the lives of the citizens of Western nations.

Bennett and other Israeli leaders want the world to fight their war because 1) they cannot defeat Iran by means of conventional warfare and 2) they could not care less about the lives of soldiers and citizens from other countries.

The simplest and most humane way to bring peace to the Middle East is for Israel to agree to the creation of a viable and truly sovereign Palestinian state along the 1967 borders - which is what the United Nations has demanded for decades. These racist lunatics would rather plunge the West into another catastrophic war than respect the will of the international community and the human rights of the Palestinian people.