Author: Steven Sahiounie

Chinese Ministry of Commerce calls the move illegal and warns it’s dangerous for global supply chains Beijing on Saturday protested the latest US sanctions against another set of Chinese businesses, applied due to their alleged attempted evasion of export controls imposed by Washington on Russia. The step “has no basis in international law and is not authorized by the United Nations Security Council,” according to the Chinese Ministry of Commerce, which has also called it an illegal measure and one that’s endangering global supply chains. Earlier this week, the US Department of Commerce added five companies based in mainland China and Hong…

A reported directive to banks comes as wealthy Chinese citizens park billions on the island amid a corruption crackdown at home Regulators in Singapore have asked banks not to discuss the origins of large amounts of wealth flowing into the country over the past year, due to the booming presence of rich Chinese nationals, the Financial Times reported on Friday. The Monetary Authority of Singapore (MAS), the country’s central bank, gave the tacit directive during a banking sector meeting in February, the outlet claimed, citing multiple sources who attended. The MAS reportedly told banks not to single out any particular…

Entrepreneurs will reportedly pour $98 million into the development of projects in Moscow Region alone Indian entrepreneurs are working on launching new business projects in Moscow Region, its local governmental deputy chairman has revealed. Yekaterina Zinovyeva told news agency TASS on Friday that more than ten Indian companies are successfully operating in the industrialized Moscow Region, which is also home to the capital, after they localized their businesses in the area. “The total volume of their investments is 11 billion rubles ($135 million) and the number of jobs they have created reaches a thousand,” Zinovyeva highlighted. “New projects are also in the…

The nationwide labor action against pension reform has reportedly cost Electricite de France €1 billion in lost output French utility Electricite de France (EDF) has warned of a big financial hit from recent industrial action at its nuclear reactors and hydro-electricity plants, claiming strikes had cost the company €1 billion ($1.1 billion) in lost output, sources have told Reuters. According to the news agency’s report on Friday, EDF is also reviewing hiring plans for the year. Two of the sources, reportedly union members, revealed they had been briefed by EDF executives in separate conversations last week and informed that EDF…

Siberian Coal Energy Company SUEK, Russia’s largest exporter of the fossil fuel, is set to significantly increase sales to China in 2023, the company’s CEO told reporters on Saturday. According to Maxim Basov, SUEK “intends to more than triple its supplies to the Chinese market” this year, bringing export volumes to more than 20 million tons. “The Chinese market is very important for us. Last year our main international market was South Korea and before that the European Union, but this year I think that China will overtake Korea and become our main export market,” the CEO said. He noted…

The Italian Minister of Environment and Energy Security, Gilberto Becchetto Frattin, announced that his country has reduced the share of Russian gas supplies to 10%, and has compensated for that with supplies from Africa and across the Adriatic Sea. And the Minister of Energy said in a press statement today, Sunday: “If earlier 40% of the gas that we imported came from Russia, today we get just over 10%. Thus, we have already overcome our dependence on Moscow by increasing imports.” Gas through the pipeline from the east via the gas pipeline through the Adriatic Sea from Azerbaijan and from…

The service is conducted by Patriarch of Moscow and All Russia Kirill Russian President Vladimir Putin arrived at the Christ the Savior Cathedral in Moscow on Saturday night to attend the Easter service. The service is conducted by Patriarch of Moscow and All Russia Kirill. The Russian president traditionally attends services during high holy days. On Easter, the head of state usually attends services at the Christ the Savior Cathedral. Only twice did he participate in Easter festivities outside Moscow – in 2000, at St. Petersburg’s St. Isaac’s Cathedral and in 2003, when he attended services at the St. Nicholas…

On the agenda of the meeting, as expected, the main topic will be the situation in Ukraine The first meeting of foreign ministers from the Group of Seven (G7) countries this year, hosted by Japan, will begin on Sunday in the Japanese resort town of Karuizawa. According to Japanese Foreign Minister Yoshimasa Hayashi, the three-day event is intended to exhibit G7 unity and help its delegates establish amicable and trusted relations. The situation in Ukraine will be one of the primary subjects of the talks. On the eve of the meeting, Hayashi emphasized that the G7 aims to demonstrate its…

The incident at the contested maritime border highlights rising tensions following provocative US-S. Korea drills. A South Korean naval vessel fired warning shots after a DPRK patrol boat crossed the countries’ disputed maritime border, Seoul’s Defense Ministry reported. The boat crossed the Northern Limit Line on Saturday morning near South Korea’s Baekryeong Island, the Joint Chiefs of Staff said in a statement. “Our Navy’s high-speed boat sent warning messages and conducted warning shots and immediately warded it off,” it said. “Our military is prepared against various provocations and keeping a decisive combat posture while closely monitoring the enemy’s movements,” the statement added.…

Official sources say the drone targeted a vehicle carrying PKK militants next to the Iranian border and left two more wounded. A drone strike allegedly carried out by Turkey killed at least two people and left others wounded in northern Iraq’s Kurdistan region, AFP reported on Sunday citing officials. The drone targeted late Saturday a vehicle transporting Turkish Kurdish fighters of the Kurdistan Workers’ Party (PKK) near the border with Iran. Governor of Al-Sulaimaniyah region Haval Abu Baker discussed the issue with the Iraqi Kurdistan region’s Prime Minister Masrour Barzani and expressed his concerns about the repeated attacks. “According to…