Donald Lu in Dhaka again

Visiting United States assistant secretary of state for South and Central Asian Affairs Donald Lu is scheduled to hold meetings with the ministries of foreign affairs and environment, forest and climate change.

During his visit, he would meet with government officials, civil society leaders, and other Bangladeshis to discuss US-Bangladesh cooperation, including addressing the climate crisis and deepening economic ties, according to a statement of the US embassy in Dhaka.

The US assistant secretary is scheduled to pay a courtesy call on foreign minister Hasan Mahmud and hold a meeting with foreign secretary Masud Bin Momen at the ministry.

Arriving in Dhaka on a three-day visit, Donald Lu on Tuesday had a meeting with civil society representatives at the residence of the US ambassador to Bangladesh Peter Haas in the afternoon before joining a dinner at the Gulshan residence of prime minister’s private industry and investment adviser Salman F Rahman, officials in Dhaka confirmed.

The Daily Star editor Mahfuz Anam, rights activist Nur Khan Liton, environmental activist Sohanur Rahman and labour leaders Kalpona Ahter and Babul Akter were present in the meeting with Lu at the ambassador’s residence.

Law minister Anisul Huq, state minister for commerce Ahsanul Islam, state minister for information and broadcasting Mohammad Ali Arafat, former state minister for foreign affairs Md Shahriar Alam and foreign secretary Masud Bin Momen, among others, attended the dinner hosted by Salman F Rahman.

During his previous visit in January 2023, he had a breakfast meeting with Salman at his residence.

Asked about specific reason why on the third visit to Bangladesh within 17 months the US assistant secretary was not holding meeting with any political party leaders unlike his previous two visits, the US state department deputy spokesperson Vedant Patel told a routine press briefing in Washington on May 13 that a lot of factors went into whom their government officials met with or not.

‘A lot of factors go into who our government officials meet with or not—the schedule, time of day, lots of other things. Assistant secretary Lu is on a swing through a number of South Asian countries—specifically India, Sri Lanka and Bangladesh. He is there to strengthen bilateral cooperation with each country and to demonstrate US support for a free, open, and prosperous Indo-Pacific region,’ he said,

‘In Bangladesh, he will meet with government officials, civil society leaders, and other Bangladeshis to talk about deepening our US-Bangladeshi cooperation, including deepening our economic ties in ways that we can collaborate further to address climate issues,’ Patel said, responding to a question whether the US had shifted its position on internal political matters of Bangladesh.

Foreign minister Hasan Mahmud said that the issues relating to the US visa policy for Bangladesh announced before the January 07 elections and Dhaka’s call for withdrawal of restrictions on the Rapid Action Battalion might come up during the visit of Donald Lu.

He said that Bangladesh had a very good relation with the US, and president Joe Biden, in a message to prime minister Sheikh Hasina conveyed on her assumption of office for the fourth consecutive term in January, expressed his willingness to take the relation to a new height.

In September 2023, the US Department of State announced that it had started imposing visa restrictions on individuals involved in undermining the democratic election process in Bangladesh.

The announcement came at a time when the Election Commission of Bangladesh started making preparations for the January 07 election.

In December 2021, the US imposed sanctions against seven former and serving officials of the RAB and the force itself over allegations of rights abuse.

Dhaka on several occasions called upon the US authorities for the withdrawal of the sanctions.

 

 

 

RIC search for a new global security order

The key question is, how will Russia–Iran–China (RIC), as BRICS leaders, SCO members, and simultaneously top three “existential threats” to the Hegemon, be able to start implementing a new global security architecture without staring down the genocidals. 

The Hegemon has no idea what awaits the Exceptionalist mindset, China has started to decisively stir the civilizational cauldron without bothering about an inevitable array of sanctions coming by early 2025 and/or a possible collapse of the international financial system. 

Last week, US Secretary of State Anthony Blinken and his list of delusional US demands was welcomed in Beijing by Foreign Minister Wang Yi and President Xi Jinping as little more than an annoying gnat.

Wang, on the record, stressed that Tehran was justified in defending itself against Israel’s shredding of the Vienna Convention when it attacked the Iranian consulate in Damascus. 

At the UN Security Council, China now openly questions not only the state terror attack on the Nord Streams but also the US–Israel combo’s blocking of Palestinian statehood. Moreover, Beijing, just like Moscow recently, hosts Palestine’s political factions together in a conference aiming to unify their positions.   

Only two days before Moscow celebrates Victory Day, the end of the Great Patriotic War, Xi will land in Belgrade to remind the whole world about the 25th anniversary of the bombing of the Chinese embassy by the US, UK, and NATO. 

Russia, meanwhile, provided a platform for the UNRWA – the UN relief agency for Palestinian refugees, which Israel has sought to defund – to explain to high representatives of BRICS-10 the cataclysmic humanitarian situation in Gaza, as described by UNRWA Commissioner-General Philippe Lazzarini. 

In short, serious political business is already being conducted outside of the corrupted UN system, as the United Nations disintegrates into a corporate shell with the US dictating all terms as the largest shareholder. 

Russian Security Council chairman Nikolai Patrushev met in St. Petersburg with his Chinese counterpart Chen Wenqing on the sidelines of the 12th International Security Summit, congregating over 100 nations, including the security heads of BRICS-10 members Iran, India, Brazil, and South Africa, as well as Iraq. 

The key crossroads these past few days was the Shanghai Cooperation Organization (SCO) defense summit in Astana,

For the first time, the new Chinese Defense Minister, Dong Jun, met with his Russian counterpart, Sergei Shoigu, to emphasize their comprehensive strategic partnership. 

Dong, significantly, stressed the “dynamic” nature of China–Russia military interaction, while Shoigu doubled down, saying it “sets a model for interstate relations” based on mutual respect and shared strategic interests. 

Addressing the full SCO assembly, Shoigu emphatically refuted the massive western propaganda drive about a Russian “threat” to NATO. 

Everybody was at the SCO defense ministers’ meeting – including, at the same table, India, Iran, Pakistan, and Belarus as an observer. Minsk is eager to join the SCO. 

The interlocking Russia–Iran–China strategic partnerships were totally in sync. Apart from Dong meeting Shoigu, he also met Iranian Defense Minister Brigadier General Mohammad Reza Ashtiani, who lavishly praised Beijing’s condemnation of the Israeli terror air strike in Damascus. 

What is happening now between Beijing and Tehran is a replay of what started last year between Moscow and Tehran, when a member of the Iranian delegation on a visit to Russia remarked that both parties had agreed on a mutual, high-level “anything you need” relationship.  

In Astana, Dong’s support for Iran was unmistakable. Not only did he invite Ashtiani to a security conference in Beijing, mirroring the Iranian position, he also called for an immediate ceasefire in Gaza and the delivery of humanitarian aid.   

Shoigu, meeting with Ashtiani, provided extra context when he recalled that “the joint fight against international terrorism in Syria is a vivid example of our long-standing friendly relations.” The Russian defense minister then delivered his clincher: 

The current military-political situation and threats to our states oblige us … to common approaches to building a just world order based on equality for all participants in the international community.

Establishing a new global security order is right at the heart of BRICS-10 planning – on par with the de-dollarization debate. All of this is anathema to the collective west, which is incapable of understanding the multifaceted, intertwined Russia, Iran, and China partnerships.   

And the interaction goes on in person. Russian President Vladimir Putin will be visiting Beijing later this month. On Gaza, the Russia–Iran–China position is in complete sync: Israel is committing genocide. For the EU – and NATOstan as a whole – this is not genocide: the bloc supports Israel no matter what.

After Iran, on April 13, changed the game in West Asia for good, without even using their finest hypersonic missiles, the key question for the Global Majority is stark: in the end, who will restrain the genocidals, and how? Diplomatic sources hint this will be discussed face-to-face by Putin and Xi. 

This time, the barbarians are facing a 5,000-year continuing written civilization, armed with Sun Tzu’s Art of War, Mao thought, Xi’s dual circulation strategy, Belt and Road, BRICS, renminbi digitalization, Russia and China unlimited, the world’s most powerful manufacturing industry, tech supremacy, economic powerhouse, and the backing of the Global South.

US threats of a “clear choice” between ending several key strands of the Russia–China strategic partnership or facing a sanctions tsunami don’t cut it in Beijing. The same applies to Washington’s wishful attempts at preventing BRICS members from ditching the US dollar. 

Yaroslav Lisovolik, founder of BRICS+ Analytics, dismisses the Hegemon’s threats against BRICS as the road map toward an alternative payment system is still in its infancy. As for Russia–China trade, the non-dollar high-speed train has already left the station. 

Russian Foreign Minister Sergey Lavrov has made it quite clear that Moscow and Beijing have nearly reached the point of abandoning the US dollar in bilateral trade. And the outright theft of Russian assets by the collective west is the ultimate red line for BRICS – and all other nations watching with horror – as a whole, this is definitely a “non-agreement capable” Empire, as Lavrov has been emphasizing since late 2021.

Courtesy: Information Clearing House

Iran Oil Show 2024 opens today

Despite all the propaganda against Iran oil industry's international successes and its energy diplomacy approach, the growing number of foreign oil companies’ presence at the 28th Oil Show is a clear sign of rising trust in Iran’s oil industry.

Director of the 28th Iran International Oil, Gas, Refining and Petrochemical Exhibition, known as Iran’s Oil Show 2024, Gholamreza Jamali, made the remarks during a press conference on May 06 in Tehran adding the exhibition opens its doors to the public on May 08.

Jamali said that 1750 oil industry related companies, including 250 foreign companies from 12 countries including Russia, China, Germany, France, Japan, Belarus, India, Canada, Italy, Turkey, Austria and Argentina shows that Iran’s oil show is not only one of the largest oil exhibitions at home but also in the West Asia region.

The great achievements of Iran’s oil industry over the last two years, is due to the support of the Minister of Petroleum, Jamali said at the press conference.

A number of companies failed to take part in this year’s oil exhibition mainly due to lack of appropriate infrastructures expressing hope improvement in the facilities to provide proper conditions for participation of all companies in the next rounds of oil exhibitions.

Elsewhere in his remarks he said, a number of world high-ranking officials have been invited to participate at the opening ceremony of the exhibition.

According to him, while during last year’s oil exhibition, just 2 thousand square meters had been allocated to accommodate foreign companies, this space has been expanded this year so that the foreign companies’ exclusive space reaches 5 thousand square meters.

 As far as it concerns allocating spaces, the organizers have decided to pay attention to the arrangement based on upstream, midstream and downstream activities and the halls and booths locations are somehow related to the subject of value chain in the oil industry

In order to support the technological innovations in the oil industry, an especial space has been allocated to the knowledge-based companies, technological companies, universities and start-ups, he also said.

Pointing out that numerous side events that will be held on the sidelines of the exhibition, the director of the Tehran Oil Show 2024 announced that many of these events would lead to the signing of contracts and memorandums of understanding in the oil industry, resulting in boosting production with economic results.

Jamali noted that providing appropriate conditions for direct connection between private and public sector activists is one of the main functions of the oil exhibition every year, which often faces some obstacles over the year due to the existence of administrative bureaucracy.

Announcing the slogan of this year's oil exhibition as "Oil industry, production leap, technological optimization", he said, "At this year’s exhibition we will reveal some equipment for the first time which is very important in view of meeting domestic needs and exporting to other countries."

The International Oil, Gas, Refining and Petrochemical Exhibition as the main and most important oil event in Iran is held annually by the National Iranian Oil Company (NIOC) with the support of the Petroleum Ministry.

The Petroleum Ministry’s subsidiaries including the National Iranian Oil Company (NIOC), the National Iranian Gas Company (NIGC), the National Iranian Oil Refining and Distribution Company (NIORDC) and the National Petrochemical Company (NPC) have an active presence in the event.

Iran Oil Show 2024 is being held from May 08 to May 11 at Tehran International Permanent Fairground.

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.

 

Iranian drones fascinate many countries

Military analysts and experts in the West have invariably emphasized that Iranian drones have proven their effectiveness in real battlefields and, as a result, have been met with great interest from many countries.

The military analytical platform “Breaking Defense,” in a recent report, evaluated one of the global consequences of the missile and drone Operation True Promise and stated that despite the extensive cooperation of several countries alongside Israel with Tehran’s launched weapons, the global interest in Iranian drones is not diminishing, and analysts say there is a highly enthusiastic market worldwide for accessing and purchasing relatively cheap and efficient Iranian drones.

The report’s author added that perhaps Israel and its allies were able to deal with the large number of 300 drones and missiles that Iran launched in its unprecedented attack on Israel, but according to analysts, this has not deterred potential customers of Tehran’s unmanned aerial vehicles.

Fabian Heinz, a defense and military researcher at the International Institute for Strategic Studies, believes that most countries, interested in Iranian drones, want to use them against powerful enemies such as the United States and Israel. 

For these countries, the advanced capabilities of enemies such as the United States in tracking these weapons are not so concerning. Iranian offensive drones have proven their effectiveness well.

Samuel Bendett, an artificial intelligence and unmanned systems expert at the CNA Institute in Washington, also stated that Israel’s opposition will not have an impact on Iran’s sales market, especially to countries seeking to adopt a politically and militarily independent approach from the West.

The report, with details of the number and types of drones and missiles used by Iran, claimed that Iran launched 170 Shahed 131 and 136 drones, along with over 30 cruise missiles and more than 120 ballistic missiles towards targets in Israel. 

According to the analysis, in recent years, the Shahed drone family has attracted widespread attention worldwide due to successful use in several operational scenarios, with the most prominent display being in Ukraine.

Jean-Marc Rickli, the head of global risk and resilience at the Geneva Centre for Security Policy (GCSP), also claimed to Breaking Defense that Ukraine provided a powerful showcase for the Shahed drones, even if these drones failed in the attack on Israel, they proved that they impose a significant cost on the adversary.

He also stated that the use of expensive missiles to destroy these inexpensive drones incurs a high cost, and more importantly, it eliminates the defender’s capabilities. In the case of Israel, the interception of drones costed more than the drones themselves.

He also pointed out that the calculation has made Iranian drones attractive to many international buyers, adding that the potential market for Iran includes countries that are sanctioned by the West or have no fear of sanctions and are not willing to accept Western conditions when selling weapons.

According to this report, interest in purchasing Iranian drones has increased even more after extensive debates and denials about Russia’s use of these aircraft against Ukraine. 

Several months later, a senior Iranian official announced that 22 countries have expressed interest in buying Iranian-made drones. Yoav Gallant, Israel’s Defense Minister, also claimed in February that 50 countries are negotiating with Tehran to purchase missiles and drones from the country.

Even an analyst from FDD said, “Iranian drones are now present in operational theaters on four continents: Asia, Africa, Europe, and South America.”

The report also mentioned Iran’s competitors in the drone market and added that analysts consider Iranian drones a cost-effective solution. Despite China leading in drone exports, experts say that Iran goes beyond Beijing and has few competitors in its niche market.

It was also emphasized that Iran has proven efficiency in high-altitude, combat, and suicide drones. While there are indeed some companies in this market, but Iran does stand out.

According to the abovementioned analysis, many experts were taken aback when they first encountered reports of Russia’s dependence on Iranian drones.

Last year, Brigadier General Talaei-Nick, the Deputy Defense Minister, said that there are some European countries willing to purchase Iranian drones, pointing to the requests sent to Iran for its drones. 

The general said that some locally-made defense products are for sale, adding that in case Iran is sure that drones would not be used inappropriately, the country is ready to export some of its drones, considering the domestic needs and the capacity of the production. 

On purchasing weapons, he said domestic products are prioritized, but in cases when foreign supplies are needed to meet the needs, especially in the field of air combat, the country will move according to its needs. 

The general said the type of equipment that is needed should be evaluated in comparison with its domestic ones and similar ones in other countries.

Moreover, he said, it should be confirmed in terms of price and quality by authorities and that buying weapons from abroad is a long-term process. 

General Talaei Nik also pointed to the training process which is needed for special types of weapons, where the foreign parties’ cooperation is also needed.  

The deputy defense minister added that financial provision and signing contracts must be done within a predetermined process, which take place within the framework of legal and international considerations.

The Defense Ministry official also said “exchanges with Russia” are still going on, noting that none of the “previously agreed exchanges” with Russia have been canceled.  

 

United States losing ground to Russia in Africa

The expected withdrawal of US forces from Niger will endanger US counter-terrorism operations and hand Russia more influence in Africa as American and western ties on the continent fracture, reports The Hill. 

Around 1,000 troops in Niger are expected to eventually withdraw from the country after the conclusion of ongoing high-level talks between Niamey and Washington following a military coup in the African country last year, the Pentagon has said. 

A forced withdrawal from Niger is a major setback for US military as it fights against Islamic extremist groups across the Sahel, a volatile region that stretches from Senegal in western Africa to the Red Sea.

At risk for the US is not just keeping ISIS, Boko Haram and other insurgent groups in check, but also the growing influence of Russia, Iran and China, all of which are jockeying for power in Africa along with the West. Western powers like the U.S. and European Union seem to be losing the battle in the Sahel.

“There’s been this hollowing out of all of the international security cooperation,” said  Joseph Siegle, director of research of the Africa Center for Strategic Studies at the Pentagon-funded National Defense University. “They were all part of a broader regional effort to try to support those countries.” 

Siegle attributes the shift to a series of governments being toppled by military juntas and an anti-western disinformation campaign supported by malicious actors in Russia or other hostile nations. But he said closer ties with Russia will harm those countries in the future, because Moscow is not investing economically into those nations.

“These countries are going to feel huge strains, and they’ll continue to try to put on a good face to show this is working, but it’s not something they’re going to be able to sustain,” he added. “Something’s going to have to give here.” 

The immediate risk of a Niger withdrawal is that the Sahel could erupt into more violence as the U.S. and France, along with other western powers, face eroding influence with military juntas that have close ties with Russia and other rival powers. 

Threats from al-Qaeda and ISIS-linked insurgent groups have already spiked in other countries ruled by military governments, including Mali, which booted French forces in 2022 but has since seen terrorist groups double their territorial control.

 

Iran and Russia: Deepening security relations

The analyst of the American think tank, Foundation for Defense Democracies (FDD), has expressed alarm over the deepening of security relations between Tehran and Moscow.

The think tank warned that Ukraine and Israel are two battlegrounds where Tehran and Moscow not only benefit from strengthening their relationship but also use them to rearrange the global order.

According to the Russian state media RIA Novosti recently reported that Russia has expressed readiness to expand military and technical cooperation with Iran. 

Russian and Iranian defense ministers discussed strengthening security relations between the two countries during a Shanghai Cooperation Organization (SCO) meeting in Kazakhstan. The SCO is a security group with members including Russia, India, China, Iran, Pakistan, Kazakhstan, Uzbekistan, Kyrgyzstan, and Tajikistan.

The think tank, citing media reports, stated that Russian Defense Minister Sergei Shoigu emphasized the significant increase in military contracts between Tehran and Moscow during a meeting with his Iranian counterpart.

Senior FDD analyst Behnam Ben Taleblu believes that Russia and Iran have increasingly been able to set aside areas of tension and disagreement between them in order to confront common enemies. 

He went on to point out that the decision of the two countries to strengthen their relationship is not in response to Western pressure, raising alarm bells for the West to increase pressure and raise the costs of this relationship for both sides. The West must work on a strategy that focuses on magnifying the differences between Moscow and Tehran and highlighting them.

Ivana Stradner another analyst from FDD believes that with the approval of new packages by the United States for Ukraine, Russia is seeking to attract more assistance from its allies. 

In fact, Russia’s victory is also a success for Iran. Tehran and Moscow believe that the United States is their common enemy, and for this reason, both countries have united against Washington.

This analytical report stipulated that the confrontation with America forms the basis of cooperation between Russia and Iran. 

The meeting of the defense ministers of the two countries took place after the disclosure of confidential Russian government documents on April 17. These documents emphasized the need for greater coordination between Moscow, Iran, China, and North Korea to change the global order under US tutelage. 

Russian President Vladimir Putin also welcomed cooperation with Iran in the energy, trade, agriculture, and technology sectors in December, following increased economic cooperation between Moscow and Tehran to bypass Western sanctions.

The FDD also mentioned Russia and Iran’s cooperation in drone technologies, stating that the United States, the United Kingdom, and Canada imposed new sanctions on April 25 against entities supporting Iran’s unmanned aerial vehicle (UAV) industry.

The final part of this report claimed that since Russia’s invasion of Ukraine in 2022, Tehran has provided hundreds of UAVs to Moscow in exchange for advanced military equipment.

Russia and Iran have both vehemently refuted allegations that Tehran sent Moscow drones to use in the conflict in Ukraine.

In July 2022, US National Security Advisor Jake Sullivan made the first anti-Iran claims, saying purportedly that Washington had information indicating that the Islamic Republic was getting ready to give Russia up to several hundred drones, including weapons-capable UAVs on an expedited timeline for use in the conflict.

Experts and the media both emphasized the significance of Iranian drones, with much of the media coverage focused on increasing pressure on Iran. The Western media cannot deny the positive role of Iranian drones in the country's foreign policies.    

In an analysis, titled “Can Iran’s Shahed drones in Ukraine help ease tension with Russia?” military affairs expert and journalist Anton Mardasov discussed the impact of Iranian drones on the relations between Iran and Russia on the Al-Monitor website on August 06, 2023. 

According to Al-Monitor, low-cost Iranian drones have significantly impacted the battlefield. “Delivery of drones gave Iran the right to talk to Moscow on an equal footing,” Nikolay Kozhanov, a professor at the Persian Gulf Studies Center of Qatar University, told Al-Monitor. 

 

 

Resilience of Russian Economy, beyond doubt

Bloomberg reports that Russian government has touted robust domestic demand in boosting its 2024 growth forecast on Tuesday. While some might be tempted to dismiss the move as geopolitical bravado in the face of the US stepping up Ukraine aid, Russian economic strength is real.

In fact, Moscow’s new 2.8% GDP projection weighs in under the IMF’s latest ‑ also upgraded forecast, of 3.2%, released last week.

It might be tempting to put this resilience down to a massive defense build-up. But the Washington-based IMF had much the same assessment as President Vladimir Putin’s team: a strong job market and swift wage rises are helping to power consumer spending. The fund even cautioned “there are some signs of overheating,” with unemployment at a record low.

What about all the Western sanctions, the mass emigration of Russian talent and the departure of a number of global corporate giants? Alexander Isakov at Bloomberg Economics offers some insight.

The sanctions on Russian energy aren’t as tight as they were for, say, Venezuela and Iran, thanks in large part to the West not wanting to worsen its own cost-of-living shock with a further surge in oil prices.

Some financial sanctions had already been imposed in 2014 after the Crimea invasion, and Russia had already amortized that cost.

Russian households remain confident thanks to a tight labor market, with the jobless rate at 2.8%. A largely voluntary military recruitment model, using monetary incentives, has let consumers keep calm and carry on.

Since some large multinationals have stayed in place, will Russia’s economy just keep on ticking?

Isakov notes that part of job market’s tightness is indeed a side effect of fiscal outlays tied to the war, funded in part by energy exports. Moscow needs crude prices to stay around the current US$90 a barrel levels to keep the budget balanced — a slump to, say, US$60 could make things difficult.

The IMF sees growth slowing to 1.8% next year, and cautioned that Russia’s potential growth rate has dropped to around 1.25% from 1.7% before the war.

This would mean that Russia’s income per capita may no longer converge toward Western European levels in the medium to long term, but for now, Russia’s chugging right along

 

US Senate passes Ukraine and Israel funding

The Senate on Tuesday passed a US$95 billion emergency foreign aid package, ending months of bitter fighting over US$61 billion for the war in Ukraine that had deeply divided the Republican Party. The measure passed by a vote of 79 to 18 and now goes to President Joe Biden for his signature.

The package also includes US$15 billion in military aid for Israel and US$9 billion in humanitarian aid for Gaza and other war-torn areas, which became another flashpoint among conservative Republicans who argued it didn’t have adequate safeguards to keep it from going to Hamas.

It provides US$8 billion in security assistance to deter Chinese aggression in the Indo-Pacific.

It includes language to force the Chinese owner of TikTok to divest from the popular app, which is used by more than 140 million Americans, or otherwise face a ban within the United States.

The centerpiece of the package is US$47.7 billion that would flow through the Defense Department to provide training, equipment, weapons, logistics support and supplies to help Ukraine’s military, as well as US$13.4 billion to replenish US equipment sent to Ukraine and US$20.5 billion for US Armed Forces support in Europe.

It also includes US$9.5 billion in economic aid to Ukraine structured as a forgivable loan, an idea that former President Trump gave life to when the Senate passed a previous version of the US$95 billion assistance package in February.

Senate Majority Leader Chuck Schumer and Senate Republican Leader Mitch McConnell, who worked for months to get Ukraine aid passed, hailed the vote as a landmark moment.

“Today the Senate sends a unified message to the entire world. America will always defend democracy in its hour of need. We tell our allies we will stand with you. We tell our adversaries don’t mess with us,” Schumer declared on the Senate floor.

McConnell took to the floor to hail the prosperity the United States has enjoyed because it’s a global leader but told colleagues that that leadership comes with responsibilities to allies who help maintain peace and order throughout much of the world.

And he chastised colleagues who dragged out the debate over helping Ukraine based on what he called the “sheer fiction” that supporting the war is not a vital national security interest.

NATO losing proxy war against Russia

Lately the British media (Telegraph and Guardian) reported allegations that Russia was using chemical weapons against Ukrainian troops and, as if that was not bad enough, the Russian military was also endangering the biggest nuclear power plant in Europe.

Former CIA officer John Kiriakou discusses these reports and concludes that the incidents are false-flag operations orchestrated by Western sponsors of the Ukrainian regime. Kiriakou says it is the CIA that has a notorious track record of engaging in dirty tricks when its operations are going badly.

And, to be sure, the NATO proxy war in Ukraine against Russia is going very badly indeed. Russia has the military upper hand, while the NATO-backed Kiev regime is facing collapse.

A defeat for Washington and its NATO partners in Ukraine would be a political disaster for the Western powers. Hence they are getting desperate.

This explains the upsurge in Western media reports that Russia has started to use chemical weapons and that Russia is endangering the nuclear power plant at Zaporozhye, Europe’s largest civilian nuclear power station.

The latter insinuation by the Western media is particularly absurd. Russia took control of the Zaporozhye Nuclear Power Plant in March 2022.

It should be obvious that the NATO-backed regime is the perpetrator of nuclear terrorism yet the Western governments, media and the UN’s International Atomic Energy Agency all adopt a shameful ambiguity about the perpetrator. The Western sponsors are covering up for a nuclear terrorist regime in Kiev because the Western governments are fully complicit in the terrorism.

John Kiriakou points out that the same playbook was used in Syria. When the Syrian Arab Army was gaining the military upper hand against NATO-sponsored jihadi mercenaries trying to overthrow the Syrian government, the Western media then reported alleged chemical weapons attacks by the Syrian army.

That resulted in the United States, Britain, and France launching air strikes against Syria. It turned out that the chemical weapon attacks were false flags conducted by the CIA and MI6-trained proxies.

Now that the NATO powers are losing the war in Ukraine against Russia – a war that they have invested in on an unprecedented colossal scale – the reaction is to repeat the false flag playbook as a desperate way to create a chemical or radiological disaster to justify an escalation of the war, perhaps by direct NATO intervention.

It does not matter to the Western warmongering elite that the safety of the planet is being recklessly jeopardized.

The same Western warmongering ruling establishments have fomented world wars and countless other wars costing tens of millions of lives. Their criminal recklessness knows no bounds.

John Kiriakou was jailed by the US government for two years after he blew the whistle on the CIA’s torture program. He now works as an independent journalist and commentator and has gained worldwide respect for his integrity and truth-telling.

 

 

 

 

Iran-Russia Rasht Astara Railway

Tehran and Moscow are finalizing the draft of a contract for the implementation of the agreement to construct the Rasht-Astara Railway.

In a meeting held between Deputy Minister of Russian Railways Sergey Pavlov and Iran’s Ambassador to Russia Kazem Jalali, the two sides emphasized compiling the contract for the implementation of the agreement to construct the Rasht-Astara Railway.

During the meeting, the two sides explored avenues for the development of transportation within the framework of the International North-South Transport Corridor (INSTC).

In addition, the two sides examined the trend of bilateral cooperation regarding the construction of the Rasht-Astara Railway with the framework of the INSTC, according to the website of Iran's Ministry of Roads and Urban Development.

The Deputy Minister of Russian Railways acknowledged during the meeting that transporting containerized cargo from the eastern side of the INSTC registered a 400 percent growth through ‘Sarakhs’ and ‘Incheh boroun’ customs in the first quarter of the current year (January-March) compared to the same period last year.

Talks are ongoing between Tehran and Moscow to determine the tariff for transporting chemical fertilizer and coal from Russia to Iran, the United Arab Emirates and India, Pavlov added.

Iran and Russia, both under harsh Western sanctions, on May 17 inked an agreement on the long-stalled construction of a railway connecting the northern Iranian cities of Rasht and Astara.

Spanning 162 km, the railway is a crucial element of the INSTC. The corridor integrates road, rail, and sea transportation, facilitating the movement of goods between Russia and India via Iran.

Through a video conference, Iranian President Ebrahim Raisi and his Russian counterpart Vladimir Putin addressed the ceremony in Tehran where the two countries' transport ministers signed the agreement.

Raisi thanked Putin and the Russian government for their involvement in the initiative and referred to it as an "important strategic step" in bilateral cooperation that will benefit all countries involved in the INSTC. Putin, for his part, called the occasion a "landmark moment for the entire global transport infrastructure."

According to this agreement, the Russian Federation will invest 1.6 billion euros in this railway route.

Iran has been a key player in the INSTC and stands to benefit greatly from its full realization. As reported by Amwaj media, the Raisi government has seemingly banked significantly on transit becoming a top revenue generator. But Iran stands to gain from the project in more ways.

The operationalization of the corridor could mean improved relations between Iran and India, aligning New Delhi more closely with Tehran’s regional interests.

A vital element of the INSTC, the Rasht-Astara railway project has been stalled for years due to costs, engineering, and logistical complications.

Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei stressed the importance of completing the stretch of the railway in his July 2022 meeting with Putin in Tehran.

VTB's new office in Tehran is part of Iran and Russia's ongoing efforts to connect their banking systems.

The two countries signed an agreement on January 29 to link their inter-bank messaging systems.

Due to Western sanctions, both countries have been cut off from SWIFT—a leading Belgium-based financial messaging service.

Both Iran and Russia are looking to reap the potential economic benefits of increased transit amid Western sanctions.

The Raisi government seeks to mitigate the adverse effects of sanctions through de-dollarization of trade and the establishment of direct banking and payment channels outside the international banking system.

 

US-led UN resolution on Gaza ceasefire vetoed

The United Nations Security Council on Friday turned down a resolution calling for an immediate ceasefire in Gaza and an Israel-Hamas hostage deal after Russia and China vetoed the measure proposed by the United States.

The resolution, on which Algeria also voted no and Guyana abstained, called for an immediate and sustained ceasefire lasting roughly six weeks that would protect civilians and allow for the delivery of humanitarian assistance. Eleven of the 15 council members voted for the resolution, but the Russia and China vetoes stopped its passage.

The council will meet at 1400 GMT on Saturday to vote on an alternative resolution drafted by elected members of the Security Council, diplomats said.

That resolution demands an immediate ceasefire for the current Muslim holy month of Ramadan, the release of all hostages and an expanded flow of humanitarian assistance to Gaza.

The draft does not include provisions supporting ongoing diplomatic efforts to secure a ceasefire - an element of the US resolution. Washington has been working with Qatar and Egypt to try to broker a deal.

Friday was the first time Washington had backed a text that came up for a vote with the word "ceasefire" in it during the war in Gaza, reflecting a toughening of the Biden administration's stance toward Israel.

Earlier in the five-month-old war, the US was averse to the word ceasefire and vetoed measures that included calls for an immediate ceasefire.

"The vast majority of this council voted in favor of this resolution, but unfortunately Russia and China decided to exercise its veto," US Ambassador to the United Nations Linda Thomas-Greenfield told the Security Council.

She accused Russia and China of vetoing the resolution for cynical and petty reasons. She said they opposed it simply because it was penned by the US and criticized both countries for not condemning Hamas's October 07 attack on Israel.

"For all the fiery rhetoric, we all know that Russia and China are not doing anything diplomatically to advance a lasting peace or to meaningfully contribute to the humanitarian response effort," she told the council after the vote.

The US has wanted any Security Council support for a ceasefire to be linked to the release of hostages held by Hamas in Gaza. Palestinian Hamas fighters killed 1,200 people and took 253 captive in their Oct. 7 attack, Israel has said.

Nearly 32,000 Palestinians have been killed in Israel's subsequent offensive in the Gaza Strip, according to health authorities in the Hamas-ruled enclave.

Russia's ambassador to the UN, Vassily Nebenzia, said the US-led resolution was exceedingly politicized and contained an effective green light for Israel to mount a military operation in Rafah, a city on the southern tip of the Gaza Strip where more than half of the enclave's 2.3 million residents have been sheltering in makeshift tents.

"This would free the hands of Israel and it would result in all of Gaza and its entire population having to face destruction, devastation, or expulsion," Nebenzia told the meeting.

China's UN ambassador, Zhang Jun, criticized the text proposed by the US for not clearly stating its opposition to a planned military operation by Israel in Rafah, which he said could lead to severe consequences. He said Beijing also supported the alternative.

But Thomas-Greenfield said that measure fell short.

"In its current form, that text fails to support sensitive diplomacy in the region. Worse ... it could actually give Hamas an excuse to walk away from the deal on the table," she said.

French President Emmanuel Macron said on Friday that his country would work with Jordan and the United Arab Emirates to persuade Russia and China to back yet another alternative resolution at the United Nations for a ceasefire in Gaza.

 

 

Russia: 40 killed in attack on concert hall

The Islamic State claimed responsibility for an attack in which at least dozens of people were killed and wounded when individuals reportedly armed with automatic weapons opened fire at Crocus City Hall, a concert venue in suburban Moscow, Russia.

"According to preliminary data, as a result of the terrorist attack at the Crocus City Hall building 40 people were killed and over 100 were injured," Russia's Federal Security Service (FSB) said in a statement reported by TASS.

Citing eyewitnesses, the Russian news agency reported that the group of unidentified men "armed with assault rifles went on a shooting spree in the lobby and then inside the concert hall just before a concert by the rock band Picnic."

The attack comes on the heels of Russian President Vladimir Putin's contested reelection and over two years into Russia's invasion of Ukraine, which has received weapons support from around the world, including the United States.

In a lengthy social media post, Mykhailo Podolyak, an adviser to Ukrainian President Volodymyr Zelenskyy, said that Ukraine certainly has nothing to do with the shooting/explosions in the Crocus City Hall.

"There is not the slightest doubt that the events in the Moscow suburbs will contribute to a sharp increase in military propaganda, accelerated militarization, expanded mobilization, and, ultimately, the scaling up of the war," Podolyak added. "And also to justify manifest genocidal strikes against the civilian population of Ukraine."

According to The Guardian, John Kirby, the White House national security spokesperson, told reporters that there's no indication at this time that Ukraine, or Ukrainians were involved in the shooting... We're taking a look at it, but I would disabuse you at this early hour of any connection to Ukraine."

Asked whether the attack signals cracks in Putin's regime, Kirby said that there are people in Moscow and in Russia that object to the way Putin is governing the country, but I don't think we, at this early hour, can make a link between the shopping mall attack and political motivations. I think... we just need more time and we need to learn more information."

 

Gold price tops US$2,200 an ounce

Gold finally surpassed US$2,200 an ounce for the first time on Thursday after the US Federal Reserve indicated that it would press ahead with three rate cuts in 2024 despite elevated inflation.

Spot gold set a new record of US$2,222.39 during the early hours of trading, before retreating to US$2,206.10. US gold futures soared 2.4% to US$2,208.20.

Gold’s latest rally, which started mid-February, is underpinned by longstanding tailwinds including heightened geopolitical risks and increased central bank buying. During March 2024 alone, the safe-haven metal hit new highs on five occasions.

Its rapid ascent, according to Bloomberg columnists has surprised many seasoned market observers, as there hasn’t been a clear catalyst. What has been partially driving bullion is expectations for looser monetary policy in the United States, and that has now been reaffirmed by the Fed.

On Wednesday, Fed chair Jerome Powell continued to highlight officials would like to see more evidence that prices are coming down, but it’s still likely in most people’s view that we will achieve that confidence and there will be rate cuts, he said.

“What we saw last night was the green light really for gold traders to come back in,” said Chris Weston, head of research for Pepperstone Group.

“The Fed have said that right now they’re tolerant of the inflation that we’ve seen, they’re tolerant that the labor market strength is not going to be the impediment,” Weston told Bloomberg.

Speculation around the timing of the Fed’s long-anticipated pivot may have provided the trigger for recent gains, with data showing that traders boosted their net long positions on gold in the week through March 05 by the most since 2019.

The metal stands to benefit even more when US interest rates actually do come down, as bullion-backed exchange traded funds look likely to increase their holdings, according to UBS Group.

On the geopolitical front, there are a number of risks boosting gold’s allure as a haven asset, Russia appears to be gaining the upper hand in its war in Ukraine, the Israel-Hamas conflict continues unabated and has led to a re-routing of global shipping, while the US presidential election at later this year could prove massively consequential for markets.

Chinese buying has also underpinned prices. As well as the central bank, people have been stocking up on coins, gold bars and jewelry to safeguard their wealth from a year long property downturn and losses in the country’s stock market.

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".

 

 

Iran-China-Russia naval drill in Indian Ocean

The navies of Iran, China, and Russia have initiated joint drills in the northern tip of the Indian Ocean, marking their fifth collaborative military exercise in recent years. Naval delegations from Azerbaijan, Kazakhstan, Oman, Pakistan, and South Africa are present as the observers of the exercises.

Chinese and Russian naval forces have entered Iranian territorial waters to participate in the primary stage of the naval war game, named Maritime Security Belt 2024, near the Gulf of Oman. This international exercise, involving Iran, China, and Russia, underscores a commitment to peace and security in the region.

During a joint press conference with Russian and Chinese commanders, Second Flotilla Admiral Mustafa Taj al-Dini emphasized the strategic significance of this being the fifth joint exercise among the involved countries. He highlighted the objectives of this joint naval drill, including bolstering maritime trade security, combating piracy and terrorism, and fostering cooperation among the participating nations.

According to Taj al-Dini, this security-focused exercise, covering an expansive area of 17,000 square kilometers, aims to address multifaceted challenges. Despite the approaching festivities for the Persian New Year, the spokesperson underscored that security efforts remain steadfast.

Notably, naval units from Iran, China, and Russia, comprising destroyers and missile cruisers, actively contribute to this collaborative initiative.

Iranian naval forces, along with their Chinese and Russian counterparts, have conducted several military drills in recent years to enhance the security and stability of international maritime trade. They have also collaborated in countering piracy and maritime terrorism, exchanging information in naval rescue and relief operations, as well as sharing operational and tactical experiences.

Russia's defense ministry stated that the exercises, running through Friday and involving warships and aviation, would focus on the protection of maritime economic activity.

The Russian defence ministry said its Pacific fleet, led by the Varyag guided missile cruiser and the Marshal Shaposhnikov frigate, had arrived at Iran’s Chabahar port on Monday to take part in the joint drill.

China’s defense ministry mentioned that the drills aimed at jointly maintaining regional maritime security. China sent its 45th escort task force, consisting of the guided-missile destroyer Urumqi, guided-missile frigate Linyi, and the comprehensive supply ship Dongpinghu, to the exercise.

Last month, Rear Admiral Shahram Irani, commander of the Iranian Navy, announced Tehran's plan to hold joint drills with Beijing and Moscow before the end of March, aimed at ensuring regional security.

Providing insights into the strategic maritime efforts, the rear admiral revealed that the mission to safeguard Iran's shipping lines in international waters commenced in 2009 under the direct command of the Leader of the Islamic Revolution, Ayatollah Seyyed Ali Khamenei.

Emphasizing the unwavering commitment of the Army's strategic naval force, he highlighted their continuous role in ensuring the security of the nation's economic hub in both the Gulf of Aden and the northern Indian Ocean.

The admiral further highlighted the expansion of the security mission beyond securing shipping lines in the Red Sea over the past four years. Currently, the comprehensive management of protection for Iran's shipping lines extends from the Gulf of Aden to the Suez Canal.

The Iranian Navy conducts routine exercises throughout the year. In recent years, Iranian military experts and technicians have made significant progress in developing and manufacturing a diverse range of military equipment, achieving self-sufficiency for the armed forces in the military industry.

In March 2023, Iranian, Chinese, and Russian naval forces staged the 2023 Marine Security Belt war game in the northern parts of the Indian Ocean, marking the fourth joint exercise in recent years. Alongside Chinese and Russian fleets, more than 10 Iranian Navy vessels and three helicopters reportedly took part.

 Courtesy Tehran Times

Iran, Saudi Arabia, UAE, Egypt, Ethiopia join BRICS

South Africa’s representative in the BRICS group of emerging economies, Anil Sooklal, has stated that Iran, Saudi Arabia, the United Arab Emirates, Egypt, and Ethiopia join the bloc on January 01, 2024.

At the recent BRICS meeting, which took place in Durban, South Africa, early in December, Sooklal underlined —referring to the attendance of high-ranking representatives of Iran, Saudi Arabia, the United Arab Emirates, Egypt, and Ethiopia— that the number of BRICS members will double with the addition of these nations.

He went on to add that the next conference of the economic group is scheduled for January 30, 2024 in Moscow, and it is expected that representatives of the new BRICS members will be there.

In a recent interview with Sputnik, Iran's Deputy Foreign Minister for Political Affairs, Ali Bagheri Kani, emphasized Iran's commitment, alongside other BRICS members, to actively pursue de-dollarization across various economic sectors.

Bagheri Kani highlighted the focus on trade, economic collaborations, and financial exchanges within this influential coalition of major economies. 

He emphasized ongoing initiatives and expressed optimism about reinforcing these efforts to swiftly achieve their objectives.

Bagheri Kani underscored the importance of collaborative efforts, signaling a unified commitment within BRICS to reducing dependency on the dollar.

He clarified that the initiatives aim to establish a framework fostering economic autonomy and resilience among member nations.

The BRICS group, initially comprised of Brazil, Russia, India, China, and South Africa, established in 2009, has emerged as a significant force shaping global economic discussions. 

Iran, alongside Argentina, Egypt, Ethiopia, the UAE, and Saudi Arabia, has received an invitation to join this influential bloc. Their anticipated full membership, official from January 01, 2024, marks a substantial shift in the geopolitical landscape.

Russia's Deputy Foreign Minister, Sergey Ryabkov, provided insights into BRICS countries accelerating the transition to national currencies. 

This strategic shift aligns with the shared vision of establishing a more balanced and resilient global economic framework, reducing vulnerabilities associated with a singular currency.

BRICS has announced plans to introduce a gold-backed currency for settling international trade payments, challenging the global reserve status of the US dollar. This decision adds momentum to the ongoing de-dollarization trend unfolding in the global economy.

Iran's active involvement in the BRICS initiative toward de-dollarization aligns with a broader trend among influential nations reshaping the global economic landscape.

As BRICS evolves, its concerted efforts toward economic autonomy become increasingly significant in shaping the future of international trade and finance.

Russia and Saudi Arabia urge all to join oil cuts

Saudi Arabia and Russia, the world's two biggest oil exporters, on Thursday called for all OPEC+ members to join an agreement on output cuts for the good of the global economy only days after a fractious meeting of the producers' club.

Hours after Russian President Vladimir Putin went to Riyadh in a hastily arranged visit to meet Saudi Crown Prince Mohammed bin Salman, the Kremlin released a joint Russian-Saudi statement about the conclusion of their discussions.

The Organization of the Petroleum Exporting Countries (OPEC), Russia and other allies agreed last week to new voluntary cuts of about 2.2 million barrels per day (bpd), led by Saudi Arabia and Russia rolling over their voluntary cuts of 1.3 million bpd.

"In the field of energy, the two sides commended the close cooperation between them and the successful efforts of the OPEC+ countries in enhancing the stability of global oil markets," said the statement released by the Kremlin.

"They stressed the importance of continuing this cooperation, and the need for all participating countries to join to the OPEC+ agreement, in a way that serves the interests of producers and consumers and supports the growth of the global economy," the statement, which was in Russian, added.

The Russian version used the word join while an English translation of the statement, also released by the Kremlin, used the word adhere to the OPEC+ agreement.

Saudi state news agency SPA said that the crown prince, known as MbS, and Putin had emphasized in their meeting the need for OPEC+ members to commit to the group's agreement.

Oil market sources said that such an explicit public remark from the Kremlin and the kingdom about "joining" cuts appeared to be an attempt to send a message to members of the OPEC+ club who had not cut or not cut enough.

The biggest member of OPEC excluded from the cuts is Iran, the economy of which has been under various US sanctions since 1979 after the seizure of the US embassy in Tehran.

Iran is boosting production and hopes to reach output of 3.6 million bpd by March 20 next year.

After his return to Moscow from Saudi Arabia, Putin on Thursday held talks with Iranian President Ebrahim Raisi in the Kremlin, along with Russia's Deputy Prime Minister Alexander Novak and Defence Minister Sergei Shoigu.

Mystery still surrounds Putin's trip to Riyadh and Abu Dhabi, on which he was escorted by four Russian fighter jets, and it was not immediately clear what particular issue was so important for Putin to make a rare overseas trip.

The Kremlin said Putin and MbS also discussed the conflicts in Gaza, Ukraine and Yemen, the Iranian nuclear program and deepening defence cooperation.

MbS has sought to reassert Saudi Arabia as a regional power with less deference to the United States. Saudi Arabia is the biggest purchaser of US arms.

Putin, who sent troops into Ukraine in February 2022, says Russia is engaged in an existential battle with the West and has courted allies across the Middle East, Africa, Latin America and Asia amid Western attempts to isolate Moscow.

"With regard to the crisis in Ukraine, the Russian side expressed appreciation for the humanitarian and political efforts undertaken by His Royal Highness Mohammed bin Salman," the joint statement said.

Putin and MbS, who together control a fifth of the oil pumped each day, were shown smiling and engaging in an effusive handshake as Putin emerged from his car in the Saudi capital.

Both MbS and Putin want and need high prices for oil, the lifeblood of their economies. The question for both is how much of the burden each should take on to keep prices aloft, and how to verify the burden.

At the talks with MbS, Putin said that a planned visit by the prince to Russia had been changed at the last minute, prompting him to visit Riyadh.

"We awaited you in Moscow," Putin told MbS with a smile.

"I know that events forced a correction to those plans, but as I have already said, nothing can prevent the development of our friendly relations."

Putin then said: "But the next meeting should be in Moscow."

The crown prince said through a Russian translator that he was ready to do that.

"Then we are agreed," Putin said.

 

 

Putin arrives Saudi Arabia to meet Mohammad

Russian President Vladimir Putin will travel to Saudi Arabia on Wednesday to meet Crown Prince Mohammed bin Salman, a rare trip abroad to discuss oil production, OPEC Plus and the wars in the Gaza Strip and Ukraine.

Putin's meeting with the prince, known as MbS, comes after oil prices fell despite a pledge by OPEC Plus, which groups the Organization of the Petroleum Exporting Countries and allies led by Russia, to further cut output.

Putin arrived in Abu Dhabi on Wednesday for talks President Sheikh Mohammed Bin Zayed Al Nahyan in Abu Dhabi. He is due to then travel to Saudi Arabia for his first face-to-face meeting with MbS since October 2019.

The Kremlin said they would discuss energy cooperation, including as part of OPEC Plus, whose members pump more than 40% of the world's oil.

"Close Russian-Saudi coordination in this format is a reliable guarantee of maintaining a stable and predictable situation in the global oil market," the Kremlin said.

The Kremlin's chief's last visit to the region was in July 2022, when he met Supreme Leader Ayatollah Ali Khamenei in Iran.

It was not immediately clear what Putin, who has rarely left Russia since the start of the Ukraine war, intends to discuss with the crown prince of the world's largest oil exporter, just days after disagreements delayed a key OPEC Plus meeting.

They will also discuss the war between Israel and Hamas militants, the situation in Syria and Yemen, and broader issues like ensuring stability in the Gulf, the Kremlin said. A Kremlin aide said Ukraine would also be discussed.

Putin will host Iranian President Ebrahim Raisi in Moscow on Thursday, Kremlin spokesman Dmitry Peskov said.

Putin and MbS, who together control one-fifth of the oil pumped each day, have long enjoyed close relations, though both have at times been ostracised by the West.

At a G20 summit in 2018, just two month after the murder of journalist Jamal Khashoggi in a Saudi consulate, Putin and MbS high-fived and shook hands with smiles.

MbS, 38, has sought to reassert Saudi Arabia as a regional power with less deference to the United States, which supplies Riyadh most of its weapons and which is the world's top producer of oil.

Putin, who sent troops into Ukraine in February 2022, says Russia is engaged in an existential battle with the West - and has courted allies across the Middle East, Africa, Latin America and Asia amid Western attempts to isolate Moscow.

Both MbS and Putin, 71, want and need high prices for oil - the lifeblood of their economies. The question for both, is how much of the burden each should take on to keep prices aloft - and how to verify the burden.

OPEC Plus last month delayed its meeting by several days due to disagreements over production levels by some members. Saudi's energy minister said OPEC Plus also wanted more assurances from Moscow it would do good on its pledge to reduce fuel exports.

Relations between Saudi and Russia in OPEC Plus have at times been uneasy and a deal on cuts almost broke down in March 2020, when the markets were already shaken by the onset of the COVID pandemic.

But the two nations managed to patch up their relations within weeks and OPEC Plus agreed to record cuts of almost 10% of global oil demand, to prop up the oil markets.

Since war broke out between Israel and Hamas on October 07, Putin has cast the conflict as a failure of US policy in the Middle East and has fostered ties with Arab allies and Iran, as well as with Hamas.

When Russia intervened in the Syrian Civil War in 2015, it helped tip the balance in Syrian President Bashar Al-Assad's favour, ensuring the Syrian leader's survival despite Western demands that he be toppled.

"The Kremlin seeks to build its line of behaviour taking into account the opinions of the main regional players - Saudi Arabia, the UAE and Iran, who are not just observers, but also, in a sense, participants in the situation," Andrey Kortunov of the Russian International Affairs Council think tank told the Vedomosti newspaper.