China imposes sanctions on US companies over weapons sales to Taiwan

Reportedly, China has targeted small to midsized American drone manufacturers and service providers in its sixth round of sanctions on US defence companies this year. Beijing has slapped sanctions on 13 US defence companies and six industry executives, the Chinese foreign ministry said on Thursday.

Among them are Kratos Unmanned Aerial Systems, developer of the low-cost XQ-58 Valkyrie combat drone, and Teledyne Brown Engineering, a defence solution subsidiary of industrial conglomerate Teledyne Technologies.

Beijing also imposed sanctions on Barbara Borgonovi and Gerard Hueber, president and vice-president of naval power at Raytheon, a major US defence company previously sanctioned by Beijing.

The list also included drone technology start-ups Firestorm Labs, Neros Technologies and HavocAI.

Lin Jian, a ministry spokesman, said the sanctions were a countermeasure for the “repeated announcement of arms sales to Taiwan”, which had seriously violated the one-China policy.

“We urge the United States to clearly recognize the serious danger that separatist acts of Taiwan independence pose to peace and security across the Taiwan Strait … and to stop sending wrong signals to Taiwan separatist forces,” he said.

From Thursday, the sanctioned entities’ assets in China will be frozen and they will be forbidden from any cooperation or transactions with Chinese organizations and individuals.

The sanctioned executives will also be prohibited from entering the country, including Hong Kong and Macau.

As cross-strait tensions have risen, Taiwan has increased its defence budget as well as its arms procurement from the United States. Unmanned platforms are believed to be a key asymmetric weapon that could help defend Taiwan in the event of a conflict with mainland China.

Beijing considers Taiwan to be part of China’s territory that must be reunified, by force if necessary, and is opposed to any official ties between the island and its diplomatic partners.

The United States, like most countries, does not consider Taiwan an independent country, but is committed to arming the self-ruled island and is opposed to any change in the status quo.

Song Zhongping, a military commentator and former People’s Liberation Army instructor, said Beijing had to take countermeasures as “drones bring a relatively bigger threat to mainland China”.

“These companies are related to drones and datalink technologies while their [products and services] are interrelated … so to sanction, you cannot just sanction one,” he said.

“That’s why the scope of sanctions is larger this time.”

Beijing has previously sanctioned US defence contractors including the missile and AI divisions of Lockheed Martin. In an earlier round of sanctions, it also targeted Anduril Industries, which has sold its multi-mission aerial vehicle Altius 600M-V to Taiwan.

The announcement came on the same day that Taiwanese leader William Lai Ching-te transited through Guam, a US territory and home to a key military base, after a stop in Hawaii this week.

Lai had a call with US House Speaker Mike Johnson on Wednesday, and called for collaboration during a speech at the Guam governor’s residence on Thursday, according to Taipei Times.

The US approved the latest arms sales deal with Taiwan – involving about US$385 million – last month.

Taiwan also signed contracts with the US to buy nearly 1,000 killer drones in October, valued at a total of NT$5.27 billion (US$162.4 million).

 

 

 

 

 

MBS Announces Red Sea Sustainability Strategy

Saudi Crown Prince and Prime Minister Mohammed bin Salman unveiled on Wednesday the National Red Sea Sustainability Strategy. This initiative aims to protect the Red Sea, empower local communities, and transition to a blue economy, aligning with Saudi Vision 2030 and the recently announced national priorities for research, development, and innovation (RDI), particularly in the areas of sustainable environment and essential needs.

Speaking on the occasion, the Crown Prince emphasized Saudi Arabia’s efforts to unlock its vast economic, geographical and cultural potential while championing sustainability and environmental conservation.

He described the strategy as pivotal in establishing the blue economy as a core component of the Kingdom’s diversified economy.

“The Kingdom aspires for the Red Sea region to become a global reference for leading blue economy activities and reaffirms its commitment to a sustainable future for the Red Sea,” he said, calling for collective efforts to safeguard the Red Sea coast and the communities that rely on it.

The Red Sea, covering 186,000 square kilometers with a coastline stretching 1,800 kilometers, is one of the world’s most bio-diverse regions. It is home to the fourth-largest barrier reef system, 6.2% of global coral reefs, and hundreds of islands.

The strategy outlines a comprehensive framework to preserve and regenerate these natural treasures while ensuring their enjoyment and sustainability for future generations. It also demonstrates how protecting the environment can unlock the economic potential of the region and initiate the transition to a blue economy.

This transition will create investment opportunities in various marine sectors such as ecotourism, fisheries, renewable energy, water desalination, shipping, and industry.

A key component of the strategy is its ambitious vision for 2030. It aims to expand marine and coastal protected areas from 3% to 30%, increase the contribution of renewable energy to 50% of the energy mix, and create thousands of new jobs linked to blue economy activities.

Furthermore, it seeks to safeguard Saudi Arabia’s substantial investments in coastal tourism, which are expected to make significant contributions to the national GDP.

The strategy is built around five main objectives: Environmental Sustainability, Economic Development, Social Development, Safety and Security, and Governance and Collaboration. Within this framework, 48 targeted initiatives have been developed to support the Kingdom’s aspirations for the blue economy.

United States godfathering wars in Middle East

There are ample reasons to suspect that the recent seizure of Aleppo in Syria by terrorist mercenaries was orchestrated by United States through its proxies.

One has all the reasons to believe, United States that has been godfathering genocide in Gaza by Israel, green-lighted Israel’s attacks on Lebanon. This gave Israel a free hand to set the stage for "new Middle East," mirroring plans America had envisioned at the turn of the 21st century.

The initial US strategy (Plan A) relied on the Israel to weaken the resistance movement in Lebanon. Following that, Israeli forces occupied the Golan Heights and launch an attack on Syria, with takfiri mercenaries activated in northwestern Syria to ultimately overthrow the government.

It is anticipated that these terrorists would then move into Iraq, toppling the Hashd resistance movement to deal a blow to the Axis of Resistance.

After all, this was Netanyahu’s plan, he had outlined in the UN with green and black maps. However, this plan failed when the Israel was forced to seek a ceasefire— indicating a major strategic defeat for "Israel Two" project at the hands of the resistance movement of Lebanon.

As a result, Plan B was put into motion, sidelining the failing Israeli military efforts and shifting focus to weaken the resistance movement politically, aiming to achieve what Israel could not through war.

The US Special Forces commander Jasper Jeffers arrived in Beirut to monitor the ceasefire, while special envoy Amos Hochstein worked on tasking the Lebanese Army with disarming Hezbollah.

Experts say, the US believes that defeating the resistance movement in Lebanon is difficult without weakening Syria, a crucial hub in the Axis of Resistance. The targeting of Syria is proof of the central logistical role it plays for all parties to the Axis of Resistance. It is believed that for months the US has been training the mercenaries, continuing the legacy of Operation Timber Sycamore activated in the last decade.

By leveraging takfiri groups, the US aims at reigniting Shia-Sunni rift in the Muslim world, a strategy reminiscent of its tactics during the "Arab Spring”.

The goal then and now is to use sectarian divisions to undermine the Axis of Resistance, with ISIS and other takfiri groups like Al-Qaeda and Hayat Tahrir al-Sham seen as prime tools for this mission.

The intensity of Western aggression in the current phase highlights the real threat posed by the Axis of Resistance to the imperialist project in West Asia, following the events of October 07, 2024.

This is evident in the unity and the ability of the front to weaken Netanyahu regime, which is now facing internal disintegration on every metric.

Just as the resistance prevented the spread of terrorism in the past decade and ensured Syria's survival, its success in absorbing the initial shock of Aleppo's capture is even more crucial today. The Axis of Resistance will not allow Syria to fall and will recapture all areas seized by the terrorists in due course.

 

Ahsan Iqbal visits Pakistan Stock Exchange

Pakistan Stock Exchange (PSX) held a Gong Ceremony to formally welcome Ahsan Iqbal, Federal Minister for Planning, Development, and Special Initiatives. The gong was struck by the Minister to open the trading day.

Present on the occasion were PSX Chairperson Dr. Shamshad Akhtar, MD & CEO of the Exchange Farrukh Sabzwari, PSX Board Members, PSX Management, senior bankers, members of the capital market fraternity, key stakeholders, and distinguished guests.

Dr. Shamshad Akhtar welcomed the distinguished guests, stating, “Ahsan Iqbal has been a voice for developing countries at the United Nations,” and praised his contributions to global and national economic progress. She highlighted PSX’s remarkable performance, noting the crossing of the 100,000-point mark last week as a testament to Pakistan’s potential.

Ahsan Iqbal congratulated the PSX Board and Management. “Crossing the 100,000 mark in the KSE-100 Index showcases Pakistan's potential to the world. It is a moment of pride that highlights Pakistan’s economic resilience,” he said.

He emphasized that the government's economic policies have steered the country towards stability. "Inflation has dropped from 38% to below 5% in two years, and the stock market has soared from 30,000 to 100,000 points," he stated.

Prominent representatives from brokerage houses, asset management companies, and senior bankers attended the ceremony, which also served to recognize the collective efforts of all stakeholders in achieving this significant milestone.

Saudi-French Investment Forum begins in Riyadh today

“Invest in Saudi Arabia" will host the Saudi-French Investment Forum in Riyadh on Tuesday. The forum, under the slogan "Saudi Vision 2030 - France's Plan 2030: Mutual Investment across Visions", is being held on the occasion of the state visit of French President Emmanuel Macron to Saudi Arabia, the Saudi Press Agency reports.

The forum will include dialogue sessions bringing together Saudi and French ministers; senior executives, and prominent business leaders from both countries. They will discuss partnership opportunities between the two countries, long-term cooperation, innovation, and mutual growth in vital sectors.

The speakers will also address topics of critical importance to the future of both countries, including leveraging digital transformation, advancing green energy initiatives, and enhancing cultural exchange.

The forum is an extension of the remarkable achievements made in investment relations between the Kingdom and France, as France is the largest source of foreign direct investment (FDI) flows to the Kingdom among the G20 countries. The FDI flows from France to Saudi Arabia amounted to more than SR11.2 billion in 2023.

The French companies obtained 503 investment licenses in the Kingdom and these included 117 licenses issued during the year 2024, of which 33 companies have regional headquarters in the Kingdom

Trump tariffs could impact US tanker trades

US President-elect, Donald Trump, has threatened to slap 25% tariffs on neighbours, Canada and Mexico, until such time as the flow of drugs and migrants stops. Since Canada to the north and Mexico to the south both supply large volumes of crude oil to US markets, there are far-reaching implications for the North American energy market.

Analysis by London shipbroker, Gibson, notes that Canada’s exports to the US of more than four million barrels of heavy crude a day move mostly through pipelines and would therefore be difficult to redirect.

About three quarters of the Canadian crude goes to the midcontinent region of the US, Gibson said, where refineries are geared up for these heavy grades. There is no ready alternative source of crude oil and refiners would have few options but to pay the tariff and pass the cost on to consumers, or cut refinery runs.

If Trump were to proceed with the tariffs, Canadian oil producers would have few options for other markets, Gibson said.

The Trans Mountain Expansion (TMX) pipeline, opened in May, has doubled Canadian seaborne exports but spare capacity is limited.

About 175,000 barrels a day of TMX crude that currently goes to the US west coast could be redirected to Asia but these barrels would have to be replaced with supplies from Latin America or the Middle East, driving up ton-mile demand.

For Mexico, the situation is less complex, Gibson said. All of that country’s exports move by sea and European and Asian refiners could take up more Mexican oil if US demand fell.

This would boost ton-mile demand and could generate more business for larger tankers on long hauls. However, Gibson warned that vessels currently ballasting from east of Suez Canal to the US Gulf might well ship these cargoes, lessening the impact.

The shipbroker concludes that it is difficult to see the tariffs being enacted in their present form because they would raise costs for US consumers.

The broker notes that the President-elect has used tariffs as a negotiating ploy in the past.

Canadian Prime Minister Justin Trudeau dined with Trump at his Mar a Lago estate on Friday evening. The two men were said to have had a productive meeting and an ‘excellent conversation’.

Courtesy: Seatrade Maritimes News

Pezeshkian slams intervention in West Asia

Iranian President Masoud Pezeshkian underscored the vital need for regional cooperation to establish security in West Asia, asserting that foreign interference is unwarranted.

During a joint session of the government and parliament on Sunday, President Pezeshkian conveyed Iran's peaceful intentions, emphasizing that the nation is not looking for conflict or violence. 

He chastised the Western countries for their double standards, which hypocritically claim to champion human rights and peace, pointing out that they are the true instigators of war and violence.

Addressing the ongoing conflict in Gaza, Pezeshkian expressed his horror at the actions of the Israeli regime. 

"For me, as a human being, regardless of my position, it is unimaginable that a regime would allow itself to drop multi-ton bombs on women, children, and defenseless civilians in hospitals and schools," the Iranian president stated.

He expressed sorrow over the deaths of more than ten thousand children in the conflicts in Gaza and Lebanon, condemning the passive response of those claiming to defend human rights. 

Pezeshkian denounced the role of the United States and European nations in the tragic events in Gaza and Lebanon, calling it shameful that these powers provide support and arms for such actions. 

Iranian President clarified that Iran harbors no intentions of territorial expansion against its neighbors. 

He noted Iran's efforts to resolve misunderstandings in bilateral relations, asserting that the situation in the region has improved. 

He emphasized regional unity against Israeli aggression, stating, "This is the first time all countries in the region have come together to condemn Israel's actions against Iran, and I commend our neighbors for this rightful stance," referring to the Israeli airstrikes on Iranian territory on October 26, 2024.