Connect with us

World

New UK sanctions target Russian luxury goods, steel and iron

Britain imposed sanctions on hundreds of Russian individuals and entities on Tuesday, using a new law to catch up with the European Union and United States in targeting people accused of propping up Russian President Vladimir Putin.
Britain, the EU and US hope the sanctions will deter Putin from pressing his invasion of Ukraine.
In the latest round of sanctions, brought quickly after the government’s Economic Crime Bill became law, Britain moved against those close to Putin, such as former president Dmitry Medvedev, Defense Minister Sergei Shoigu and Russian television executive, Konstantin Ernst.
For the latest headlines, follow our Google News channel online or via the app.
Russian businessmen Mikhail Fridman and Pyotr Aven, oligarchs who amassed their wealth before Putin came to power, were also put under sanctions, as were Kremlin spokesman Dmitry Peskov and foreign ministry spokesperson Maria Zakharova.
Britain said the latest round of sanctions included elites with a net worth of 100 billion pounds ($130.63 billion).
“We are going further and faster than ever in hitting those closest to Putin – from major oligarchs, to his prime minister, and the propagandists who peddle his lies and disinformation. We are holding them to account for their complicity in Russia’s crimes in Ukraine,” Foreign Minister Liz Truss said.
“Working closely with our allies, we will keep increasing the pressure on Putin and cut off funding for the Russian war machine,” she said in a statement.
She said Britain had imposed more than 370 new sanctions, taking the total to over 1,000 since Russia invaded Ukraine on February 24.
Britain earlier said it would ban the export of luxury goods to Russia and impose a new 35 percent tariff on 900 million pounds ($1.2 billion) worth of Russian imports, including vodka, metals, fertilizers and other commodities.
“Our new tariffs will further isolate the Russian economy from global trade, ensuring it does not benefit from the rules-based international system it does not respect,” Finance Minister Rishi Sunak said in a statement.
Russia says it is carrying out a “special operation” to disarm and “de-nazify” Ukraine, which Kyiv and its allies call a baseless pretext to invade a democratic nation of 44 million people.
The government said the export ban would come into effect shortly and it would soon set out which products were affected, but added they would likely include high-end fashion, works of art and luxury vehicles.
Many British firms including carmakers Jaguar Land Rover and Aston Martin and luxury fashion label Burberry have already said they are temporarily shutting their outlets in Russia or suspending the supply of goods.
The government said the goods subject to an additional tariff of 35 percent had been chosen to minimize impact on Britain while maximizing impact on the Russian economy.
The goods include iron, steel, fertilizers, wood, tires, railway containers, cement, copper, aluminum, silver, lead, iron ore, residue/food waste products, beverages, spirits and vinegar glass and glassware, cereals, oil seeds, paper and paperboard, machinery, works of art, antiques, fur skins and artificial fur, ships and white fish.
The government also said it was cutting off all export finance support to Russia and Belarus, meaning it will no longer issue any new guarantees, loans or insurance for exports.
Existing British exposure to Russia through its export credit agency is around 100 million pounds.
Read more:

Over three million Ukraine refugees flee Russian invasion: UN

Allies join G7 WTO stance towards Russia amid invasion: EU trade chief

Russia limits exports of grains to ex-Soviet republics

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

World

Crown Prince of Abu Dhabi meets with CEOs of leading Norwegian companies

H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has met with a group of CEOs from leading Norwegian companies, as part of their participation in the UAE-Norway Investment Forum, held alongside his official visit to the Kingdom of Norway.

During the meeting, H.H. Sheikh Khaled bin Mohamed bin Zayed underscored the UAE leadership’s commitment to strengthening economic cooperation with its international partners.

He highlighted that investment in innovation and knowledge is a cornerstone for achieving sustainable development, noting that enhancing collaboration with Norwegian companies across key sectors will open new avenues for mutual economic growth between the two countries.

The UAE-Norway Investment Forum, taking place in Oslo, aimed to highlight available investment opportunities and strengthen trade relations between the UAE and Norway, fostering shared interests and supporting innovation and knowledge-based economic visions.

-wam

Continue Reading

World

At the Indonesia International Book Fair 2024, TRENDS inaugurates 10th global office, releases four books

As part of its Asian research tour, partnership with Aletihad News Center, and
primary sponsorship of the Indonesia International Book Fair 2024, TRENDS
Research & Advisory inaugurated its office in Jakarta, marking its 10th location
worldwide. It also released four books in Indonesian.
The inauguration event was attended by ambassadors of the UAE, Bahrain, and
Jordan to Indonesia, chairpersons of the UAE and Indonesian Publishers’
Associations, the Director of TRENDS’ Jakarta office, and a group of researchers
and academics.
Speaking at the event, Dr. Mohammed Abdullah Al-Ali, CEO of TRENDS
Research & Advisory, stated that TRENDS’ international offices—set to reach 15
by the end of 2024—aim to enhance the Center’s research efforts and deepen its
role in disseminating knowledge, thus serving as a global knowledge bridge.
He emphasized, “At TRENDS, we believe in the importance of cooperation
between think tanks and prioritize this endeavor. We believe the TRENDS office in
Jakarta will enhance the exchange of knowledge and ideas between think tanks in
Asia and the Middle East, opening new horizons for collaboration in various
fields.”

Four books in Indonesian
As part of the Jakarta office’s inaugural activities, four books were released in
Indonesian, including the 11th and 12th books of the Muslim Brotherhood
Encyclopedia and Global Trends in AI and Automation and the Future of
Competition between Man and Machine: An Analytical Forward-looking Vision.

Hostility to Arab states
The 11th book of the Muslim Brotherhood Encyclopedia, The Concept of the State
According to the Muslim Brotherhood, highlights its hostile stance toward Arab
states since its inception. The group views them as an obstacle to its ascent to
power. It opposed the modern principles upon which these states were built,
considering them incompatible with the group’s unique interpretation of Islam,
which it claimed to embody exclusively.

Exclusion of nonconformists
The 12th book, The Muslim Brotherhood: Rejection of Tolerance and Exclusion of
Nonconformists, examines the Muslim Brotherhood’s stance towards
nonconformists, individuals, and entities. The book reveals the group’s binary view
of the world, categorizing others as allies or adversaries. It ties these relationships
to the Brotherhood’s internal power struggles and self-serving interests.

Global Trends in AI
The third book, Global Trends in AI, explores significant developments in AI and
its impact on various aspects of life, including the economy, society, and
governance. It also offers a comprehensive analysis of technological advancements
in AI, its applications across sectors, the ethical and social challenges it presents,
and its future trajectory.

Automation

The fourth book, Automation and the Future of Competition between Man and
Machine: An Analytical Forward-looking Vision, addresses the growing challenges
faced by the human workforce in the face of widespread automation and AI
applications. The book concludes that while automation presents a significant
challenge to the labor market, it simultaneously creates new opportunities. It
emphasizes the importance of preparing for this shift through skills development,
continuous education, and adopting economic and social policies that support the
workforce.

Prominent pavilion and active presence
The TRENDS’ pavilion at the Indonesia International Book Fair has attracted
numerous visitors, including academic researchers and officials, such as the
ambassadors of the UAE, Bahrain, Qatar, Jordan, and Turkey. Additionally,
chairpersons of Arab and Indonesian publishers’ associations, authors, publishers,
and students visited the pavilion. All were impressed with and praised TRENDS’ diverse, valuable publications. They also commended TRENDS’ active
international presence and ability to address global developments with rigorous
analytical research.
Dr. Mohammed Abdullah Al-Ali honored the esteemed guests, including
ambassadors of the UAE and Bahrain to Indonesia, Wedha Startesti Yudha,
Chairperson of the Indonesia International Book Fair Committee, Arys Hilman
Nugraha, Chairman of the Indonesian Publishers Association, and others,
presenting them with TRENDS’ publications and commemorative shields.
Additionally, he awarded TRENDS’ Research Medal to Ni Made Ayu Martini
Indonesian Deputy Minister of Marketing, Tourism and Creative Economy
It is worth noting that during its current Asian research tour, TRENDS announced
the launch of the TRENDS Research Medal, awarded to individuals who make
significant contributions to the development of scientific research and promote collaboration with TRENDS in strengthening a culture of research across various fields.

Continue Reading

World

US determined to prevent full-scale war in Middle East, Joe Biden tells UNGA79

US President Joe Biden highlighted the US Administration’s determination to prevent a wider war that engulfs the entire Middle East region, noting that a diplomatic solution “remains the only path to lasting security to allow the residents from both countries to return to their homes on the border safely”.

In remarks he made today before the 79th Session of the United Nations General Assembly (UNGA79), the US President said, “Full-scale war is not in anyone’s interest,” adding that a diplomatic solution is still possible.

He also touched on “the rise of violence against innocent Palestinians on the West Bank”, and the need to “set the conditions for a better future”, which he said featured “a two-state solution, where the world — where Israel enjoys security and peace and full recognition and normalised relations with all its neighbours, where Palestinians live in security, dignity, and self-determination in a state of their own”.

President Biden underscored the ceasefire and hostage deal put forth by Qatar and Egypt, which the UN Security Council endorsed. He said, “Now is the time for the parties to finalise its terms, bring the hostages home,” adding that this would help ease the suffering in Gaza, and end the war.

-WAM

Continue Reading

Trending