Author: Steven Sahiounie

The G7 and the EU are considering an embargo on exports of precious stones from the sanctioned country A group of 16 leading international diamond manufacturers and traders, including De Beers, have decried the latest EU and G7 proposal to trace the origin of diamonds in order to block Russian gems from entering the global market, Financial Times reported on Wednesday. According to a letter from the group to the Antwerp World Diamond Centre (AWDC), Belgium’s industry lobby, the proposal lacks sufficient “transparency, accountability and inclusivity.” The G7 recently announced its intention to place an embargo on direct and indirect…

The jobless rate in the Russian capital was 2.2% in 2022, according to the city’s deputy mayor Moscow had the lowest unemployment rate among major cities in G20 nations last year, Deputy Mayor for Economic Policy Vladimir Efimov said on Tuesday. The rate was calculated in accordance with methods used by the International Labor Organization (ILO). “According to the ILO methodology, unemployment in Moscow at the end of 2022 dropped to 2.2% compared with 2.6% in 2021,” Efimov stated. He also noted that the labor market in Moscow remains stable due to the development of industry and high-tech enterprises, and the…

Bullion sales to the Arab nation boomed in 2022 due to Western sanctions The UAE has been snapping up Russian gold at an unprecedented pace since Western countries banned imports, Bloomberg reported on Wednesday, citing the UN’s Comtrade database. Statistics showed that the Gulf state imported 96.4 tons of gold from Russia in 2022, becoming its largest buyer. The volume represented about a third of Russia’s total annual gold production. It was also a more than fifteenfold year-on-year increase in the Arab nation’s gold imports from Russia. Bloomberg noted that prior to the start of Russia’s military operation in Ukraine,…

The measure was poorly thought-out and would have been a challenge for Britons, Prime Minister Rishi Sunak said The UK is to delay its planned ban on sales of new gasoline and diesel cars from 2030 until 2035, Prime Minister Rishi Sunak announced in a speech on Wednesday. Sunak lambasted his predecessors for focusing on “grabbing headlines” with their ambitious plans to cut carbon emissions in such a short term, saying that their measures were badly thought-out and haven’t ever been properly debated. The initial plan, designed to lower carbon emissions, envisaged prohibiting new combustion-engine cars that run on fossil…

Aging nuclear power stations have weakened the country’s electricity output France may have to keep its last two coal-fired power plants on standby this winter to guarantee security of electricity supply, its national grid operator RTE announced on Tuesday. According to RTE’s outlook of upcoming power needs, the country is heading into this winter in a “much” better situation than a year ago. However, growing demand during the country’s long-term energy transition will pressure supply, it warned, adding that in case of a shortage in nuclear-power production or of a lack of renewables, coal plants may have to be on hand. “We’ll…

Kiev has filed a WTO case against Poland, Hungary, and Slovakia over their ban on Ukrainian grain imports The EU is considering whether to defend Poland, Hungary, and Slovakia against a grievance filed by Ukraine after the three countries announced unilateral bans on the import of Ukrainian seeds and grains, the Financial Times reported on Thursday. This summer, Brussels allowed five Eastern European nations to block importing these products for domestic sale but refused to extend the ban this month. As a result, Hungary, Poland, and Slovakia imposed their own prohibitions, going against the EU policy of acting in unison…

“I think it’s important to synchronize our watches,” Russia’s top diplomat pointed out Russian Foreign Minister Sergey Lavrov is having a meeting with Director General of the International Atomic Energy Agency (IAEA) Rafael Grossi on the sidelines of the 78th session of the United Nations General Assembly (UNGA), according to a TASS reporter. “You said you would meet with us and the Ukrainians,” Lavrov told Grossi. “I think it’s important to synchronize our watches,” Russia’s top diplomat added. Grossi confirmed to reporters that he was planning to visit Russia soon. Earlier, the IAEA chief repeatedly said it was necessary to…

The Six-Party Committee of the Organization of Islamic Cooperation (OIC) yesterday held a meeting regarding Palestine during the 78th session of the United Nations General Assembly (UNGA) in New York chaired by Hissein Brahim Taha, the OIC Secretary-General. During the meeting, the Secretary-General delivered a speech reaffirming the OIC’s unwavering position on the issue of Palestine and Jerusalem. He called for mobilizing political and legal efforts to find a just and lasting solution to the Palestinian issue compliant with international law and relevant UN resolutions. The Secretary-General also called for a peace process to be relaunched under multilateral international sponsorship…

“Since the collapse of the USSR and the emergence of independent states in its place, the US and its allies have blatantly and openly interfered in Ukraine’s internal affairs,” the Russian foreign minister pointed out . The US and its allies have openly meddled in Ukrainian affairs since the Soviet breakup and there’s evidence they engineered the crisis in that country, Russian Foreign Minister Lavrov said at a UN Security Council meeting on Ukraine. “Since the collapse of the USSR and the emergence of independent states in its place, the US and its allies have blatantly and openly interfered in…

According to the Russian Central Bank’s projections, annual inflation in Russia would continue rising in coming months, whereas by the end of the year it is projected at 5-6.5% MOSCOW, September 20. /TASS/. Annual inflation in Russia accelerated to 5.45% on September 12-18 from 5.33% in the previous week, the Economic Development Ministry reported. “During the week from September 12 to 18, 2023 inflation remained at the level of last week (0.13%, same as in the previous week). Year-on-year inflation amounted to 5.45%,” the ministry said. Earlier reports said that according to the Russian Central Bank’s projections, annual inflation in…