Author: Steven Sahiounie

Steven Sahiounie, journalist and political commentator The deal signed in China on March 10 was a surprise to the US and their western allies. They didn’t see that coming, as years of secret talks culminated in a successful restoring of full diplomatic relations between the Kingdom of Saudi Arabia and the Islamic Republic of Iran. This new relationship has the potential to change the Middle East and North Africa (MENA). The global center of power is shifting towards the east, and the west may be left behind. Steven Sahiounie at MidEastDiscourse interviewed veteran journalist Martin Jay to get his take…

Several shelling attacks were reported in Donetsk during the day Two civilians were wounded in Donetsk after an explosive object was dropped from a Ukrainian drone, the city’s mayor, Alexey Kulemzin, said on Monday. According to the mission of the Donetsk People’s Republic (DPR) to the Joint Control and Coordination Center (JCCC) for issues related to Ukraine’s war crimes, the object was dropped in Donetsk’s suburb of Staromikhailovka at 3:00 p.m. “As a result, two civilians – men born in 1981 and in 1982 – were wounded. They were taken to hospital,” he wrote on his Telegram channel. Several shelling…

The decision was made without discussion The European Union has repeatedly extended the anti-Russian sanctions imposed on almost 1,500 individuals and 205 legal entities for allegedly undermining the territorial integrity of Ukraine for six more months. This is according to a statement the EU Council published on Monday. “Sanctions will continue to apply to 1,473 individuals and 205 entities,” the statement says. The sanctions have been prolonged until 15 September 2023. The decision was made without discussion. The European Union began to make a black list for Russia in March 2014, extending it for six months every six months. All…

According to the 63-page documents, the United Kingdom “will further strengthen our national security protections in those areas where the actions of the CCP (Chinese Communist Party ) pose a threat to our people, prosperity and security” China poses a challenge to the world order the West wants to see, British Prime Minister Rishi Sunak said in a foreword to Integrated Review Refresh 2023 that was released on Monday. “China poses an epoch-defining challenge to the type of international order we want to see, both in terms of security and values – and so our approach must evolve,” the British…

The price of XRP has gained slightly in the past 24 hours, rising by 0.5% after the coin recovered from a significant fall this past weekend. At $0.363344, XRP has dropped by 1.5% in a week and by 5% in the last 30 days, with the coin dragged down by the market-wide selloff following the collapse of Silvergate Bank. Yet XRP has also been threatened by the revelation that Ripple had some exposure to another collapsed financial institution, Silicon Valley Bank, which was shut down on Friday by the Federal Deposit Insurance Corporation after it suffered a run of withdrawals. However, with the…

Bitcoin moved back above $22,000, as the U.S. Treasury moved to avert a regional banking crisis, following the collapse of Silicon Valley Bank. The government confirmed that it will backstop depositors’ funds, giving full access to their capital. Ethereum also moved higher on the news. Bitcoin Bitcoin (BTC) rose back above $22,000 on Monday, as the U.S. Treasury confirmed it will backstop depositors’ funds. This will be for both Silicon Valley Bank and Signature Bank, which become the second and third biggest banking failures in U.S. history. Following a low of $20,475.60 on Sunday, BTC/USD surged to an intraday high of…

Banking stocks drove European markets lower on Monday as global investors weighed the consequences of the collapse of Silicon Valley Bank (SVB). The US lender imploded last week and had its assets seized after a bank run caused its stock to plummet. The pan-European Stoxx 600 index dropped 2.56% at 13:00 GMT, with all major stocks trading in the red. Bank stocks slumped more than 6%, with Commerzbank, BAWAG Group, and Banco BPM among the biggest losers. Credit Suisse plunged 15% in early trading and UniCredit lost 9%, while Deutsche Bank and Raiffeisen Bank both declined by 7%. The meltdown…

Bitcoin soared after the government pledged to protect the depositors of failed tech lenders Major cryptocurrencies rebounded on Monday, with the overall crypto market cap reclaiming the $1 trillion mark, following the news that the US authorities will attempt to rein in the unfolding banking crisis. The largest digital asset, Bitcoin, has jumped more than 18% in the past 24 hours to its highest level in over a week. The crypto was trading at $24,385 per token as of 15:30 GMT. Other major crypto coins, including Cardano, Polygon, Solana, Litecoin, Avalanche, and Filecoin, were all up by more than 10%.…

Washington — President Biden on Monday sought to reassure Americans that they can have confidence in the U.S. banking system following the collapse of Silicon Valley Bank and quell any concerns about the fallout from its abrupt failure. “Americans can have confidence that the banking system is safe,” Mr. Biden said in brief remarks from the White House. “Your deposits will be there when you need them. Small businesses across the country that deposit accounts at these banks can breathe easier knowing they’ll be able to pay their workers and pay their bills, and their hard-working employees can breathe easier as well.” The…

The U.S. government announced Sunday that it is deploying emergency measures to shore up the banking system and backstop deposits at two banks that failed within a matter of days. All deposit accounts at both institutions, Silicon Valley Bank and Signature Bank in New York, will be guaranteed, according to a joint statement released by the Federal Reserve, the Department of the Treasury and Federal Deposit Insurance Corporation (FDIC). Depositors with SVB “will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer,” the statement said.…