Author: Steven Sahiounie

As the US is barreling toward default, Treasury has cautioned of “catastrophic” economic repercussions. President Joe Biden and Republican leaders are set to resume on Tuesday crunch talks on raising US borrowing limits, with a possible debt default looming on the near horizon. The Treasury has cautioned of “catastrophic” economic repercussions if the US runs out of cash to pay its bills, which would leave it unable to pay federal workers and generate a likely surge in interest rates with knock-on effects for businesses and mortgage holders across the country in addition to financial markets worldwide. In a letter to House Speaker…

The International Energy Agency highlights that Russian exports increased by 50,000 barrels per day to 8.3 million bpd last month. Despite Western sanctions, Russia’s oil exports rose in April to the highest level since the start of the Ukraine war, boosting revenues by $1.7 billion, the International Energy Agency highlighted on Tuesday. The Paris-based organization indicated that Russian exports increased by 50,000 barrels per day to 8.3 million bpd last month, estimating that the country did not fully deliver on a threat to cut production sharply. “Indeed, Russia may be boosting volumes to make up for lost revenue,” the IEA…

Gennady Gatilov dismissed as falsehoods the accusations made by the US and other NATO countries against Moscow to the effect that the conflict in Ukraine was allegedly “unprovoked aggression” The threat to Russia resulting from NATO, US and Britain’s military policies in Ukraine was real, Gennady Gatilov, Russia’s permanent representative to the UN headquarters in Geneva, said at the plenary session of the Conference on Disarmament on Tuesday. “The threat to Russia’s security from the military development of Ukraine’s territory was real and acute and similar to what the US itself experienced during the 1962 Cuban Missile Crisis,” he said.…

Chinese Defense Ministry Spokesperson Senior Colonel Tan Kefei emphasized that the Chinese army “will firmly defend the sovereignty and territorial integrity of its country” China’s People’s Liberation Army (PLA) will thwart any attempts by Taiwanese separatists to isolate themselves from China by means of buying weapons from Washington, Chinese Defense Ministry Spokesperson Senior Colonel Tan Kefei said on Tuesday. The PLA will ramp up its preparations for war, he added. Commenting on Washington’s plan to supply $500 million worth of weapons to Taipei, Tan said, “The PLA continues to intensify military training in preparation for war. We will resolutely crush…

Those involved in the probes admit the absurdity of anti-Russian allegations voiced at various government levels in the US, Dmitry Peskov maintained The United States has repeatedly failed to find any signs of Russian interference in its affairs, Kremlin Spokesman Dmitry Peskov told reporters on Tuesday. When asked to comment on Monday’s report by US Special Counsel John Durham who concluded that the FBI should never have launched a probe into ties between former US President Donald Trump and Russia, Peskov said, “This is not the first time that the Americans have launched a thorough, large-scale investigation only to find…

The politician stressed that Russia would “maximize the production of weapons, military and special equipment and means of destruction” After denouncing the no longer relevant treaty on conventional armed forces in Europe (CFE Treaty), Russia is free to deploy weapons wherever necessary to protect its national interests, the deputy chairman of Russia’s Security Council, Dmitry Medvedev, said on his Telegram account on Tuesday. “The State Duma has denounced the CFE Treaty. Good riddance. This document became irrelevant for us back in 2007. Now, none of the previously suspended international commitments can prevent us from placing our weapons wherever we want…

Jewish settlers today torched a Palestinian-owned car in the village of Beit Iksa, northwest of occupied Jerusalem, according to local sources. They said settlers broke into the village, torched a car owned by a local resident, and wrote racist graffiti on the walls of the house of another resident. Ibrahim Zayed, the owner of the torched car, said the settlers set fire to his car and then wrote graffiti calling for the killing of Arabs before running away when residents chased them out. Source: Wafa

The ongoing pressure in oil prices neglects an accelerating demand outlook and looming supply tightness, the Paris-based International Energy Agency warned on Tuesday. Financial turbulence in the banking sector after the spring collapse of several U.S. and European banks steered investors away from historically riskier assets, such as oil. Prices fleetingly gained ground after a number of OPEC+ members announced an additional 1.6 million barrels per day of voluntary cuts at the start of April — only to rapidly surrender these gains, cooling analyst expectations of prices at $100 per barrel. Ice Brent futures with July expiry were trading at $75.14…

South African President Cyril Ramaphosa says Russia and Ukraine have agreed to receive an African mission that aims to initiate peace talk discussions between the two countries. The Russian and Ukrainian Presidents have agreed to meet with a delegation of African leaders to discuss a possible peace deal to the Ukrainian crisis, South African President Cyril Ramaphosa said on Tuesday. The South African President did not reveal any further details regarding the peace plan, however, the two sides are miles apart in terms of their demands for a peace deal, as Ukraine has demanded the withdrawal of Russian troops from…

Venezuelan President Nicolás Maduro announced that Venezuela will move ahead with the path of eliminating the dollar in economic transactions. “This is our way, the way of a free economy, where currencies are not used to punish countries and impose sanctions,” Maduro said in an interview with local television on Monday. Earlier, Argentina announced in April that it would move to the Chinese yuan to pay for goods imported from China, on the back of difficulties with supporting central bank reserves. Last March, Brazil and China announced the establishment of a clearing house for trade without using the dollar, and…