US, Russia reach deal on Syrian chemical weapons

September 14, 2013

Geneva, Sep 14: U.S. Secretary of State John Kerry and Russian Foreign Minister Sergey Lavrov reached agreement on Saturday on a framework for Syria to destroy all of its chemical weapons, and said they would seek a U.N. Security Council resolution that could authorize sanctions short of military action if President Bashar Assad's government fails to comply.Kerry-Lavrov

The deal announced by the diplomats on the third day of intense negotiations in Geneva includes what Kerry called “a shared assessment” of Syria's weapons stockpile, and a timetable and measures for Syria to comply.

The deal calls for international inspectors to be on the ground in Syria by November and to complete their initial work by the end of that that month. All of Syria's chemical weapons stocks, material and equipment would have to be destroyed or removed by mid-2014.

But the stakes have been especially high in Geneva, because the negotiations between the United States and Russia on securing Syria's chemical weapons also are considered key to breaking the international stalemate that has so far blocked a resumption of peace talks to end the Syrian civil war, now in its third year.

“We have committed to a standard that says, verify and verify,” Mr Kerry told a packed news conference in the Intercontinental Hotel in Geneva, where he has been staying and the negotiations were conducted since Thursday night.

Among the highlights of the agreement is that the U.S. and Russia would agree to work together on a new, binding Security Council resolution that would ensure verification of the agreement to secure and destroy Syria's chemical weapons stocks and remove its capability to produce such weapons.

The resolution would allow for punitive measures for non-compliance, but stop short of military action, if the 16-nation Security Council approves them. The U.S. and Russia are two of the five permanent Security Council members with a veto. The others are Britain, China, and France.

Another major feature of the agreement is that the U.S. and Russia plan to give Syria one week, until Sept. 21, to submit “a comprehensive listing, including names, types and quantities of its chemical weapons agents, types of munitions, and local and form of storage, production, and research and development facilities.”

In addition, the U.S. and Russia have agreed that international inspectors should be on the ground in Syria by November and complete their initial work by the end of the month. They must be given “immediate and unfettered” access to inspect all sites.

Notably, Mr Kerry said they had agreed on grounds under which they might request a Security Council “Chapter 7” resolution at the United Nations, which is a measure that could include military and non-military sanctions.

But Mr Lavrov, who said the agreement was “based on consensus and compromise and professionalism,” indicated there would be limits to using a Chapter 7 resolution, which Russia would almost certainly veto if it specifically authorized a military strike such as what President Barack Obama has threatened.

“Any violations of procedures ... would be looked at by the Security Council and if they are approved, the Security Council would take the required measures, concrete measures,” Mr Lavrov said.

“Nothing is said about the use of force or about any automatic sanctions. All violations should be approved by the Security Council,” he added.

Mr Kerry also said any violations will result in “measures” from the Security Council, while Mr Lavrov said the violations must be sent to the Security Council from the board of the chemical weapons convention before sanctions short of the use of force would be considered.

Mr Kerry said the pair and their teams of experts had come to agreement on the exact size of Syria's weapons stockpile, which had been a sticking point before their meetings in Geneva. But in marathon sessions into early morning hours, the U.S. and Russia succeeded in narrowing their differences.

The agreement over the Russian proposal to inventory, isolate and eventually destroy Syria's chemical weapons stocks comes as the Obama administration warned that there is a timetable for a diplomatic resolution of the weapons issue.

DPA adds

Meanwhile, the rebel Free Syrian Army (FSA) has rejected a U.S.-Russian deal on dismantling Syria's chemical weapons and has vowed to continue fighting to oust President Bashar al-Assad.

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News Network
May 15,2020

May 15: Global deaths linked to the novel coronavirus passed 300,000 on Thursday, while reported cases of the virus are approaching 4.5 million, according to a news agency tally.

About half of the fatalities have been reported by the United States, the United Kingdom and Italy.

The first death linked to the disease was reported on January 10 in Wuhan, China. It took 91 days for the death toll to pass 100,000 and a further 16 days to reach 200,000, according to the Reuters tally of official reports from governments. It took 19 days to go from 200,000 to 300,000 deaths.

By comparison, an estimated 400,000 people die annually from malaria, one of the world’s most deadly infectious diseases.

The United States had reported more than 85,000 deaths from the new coronavirus, while the United Kingdom and Italy have reported over 30,000 fatalities each.

While the current trajectory of COVID-19 falls far short of the 1918 Spanish flu, which infected an estimated 500 million people, killing at least 10% of patients, public health experts worry the available data is underplaying the true impact of the pandemic.

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News Network
May 11,2020

Kabul, May 11: Four back-to-back roadside bombs exploded in a northern district of Afghanistan's capital Kabul on Monday, wounding four civilians including a child, police said. Kabul police spokesman Ferdaws Faramarz said a clearance team was at the site of the attacks.

Militants have carried out several roadside bombings and rocket attacks in Kabul and other parts of the country in recent weeks, but Monday's four consecutive explosions appeared to be the first coordinated effort for some months.

The Taliban has not carried out any large attacks in the city since they signed a landmark withdrawal deal with the US in February, meant to pave the way for peace in the country. No group has claimed the attacks. The explosions come as authorities are trying to impose a lockdown in the capital to curb the spread of coronavirus in the country.

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News Network
July 27,2020

Tokyo, Jul 27: Gold hit an all-time high on Monday as tit-for-tat consulate closures in China and the United States rattled investors, boosting the allure of safe-haven assets, although sentiment was mixed with tech gains supporting some Asian stocks.

MSCI's ex-Japan Asia-Pacific index rose 1.3 percent as Taiwan's TSMC, Asia's third-largest company by market capitalisation, rose almost 10 percent.

The chipmaker's gains boosted other tech stocks in the region and came after rival Intel signalled it may give up manufacturing its own components due to delays in new 7-nanometer chip technology.

Also soothing sentiment, Chinese shares eked out gains after big falls late last week, with CSI300 index rising 0.5 percent.

S&P500 futures were last up 0.4 percent in choppy trade while Japan's Nikkei fell 0.5 percent, resuming trade after a long weekend and catching up with falls in global shares late last week.

Global shares had lost steam last week after Washington ordered China's consulate in Houston to close, prompting Beijing to react in kind by closing the US consulate in Chengdu.

US Secretary of State Mike Pompeo took fresh aim at China last week, saying Washington and its allies must use "more creative and assertive ways" to press the Chinese Communist Party to change its ways.

"US President (Donald) Trump used to say China's President Xi Jinping is a great leader. But now Pompeo's wording is becoming so aggressive that markets are starting to worry about further escalation," said Norihiro Fujito, chief investment strategist at Mitsubishi Securities.

Gold rose 1.0 percent to a record high of $1,920.9 per ounce, surpassing a peak touched in September 2011, as Sino-US tensions boosted the allure of safe-haven assets, especially those not tied to any specific country.

The yellow metal is also helped by aggressive monetary easing adopted by many central banks around the world since the pandemic plunged the global economy into a recession.

Some investors fret such an unprecedented level of money-printing could eventually lead to inflation.

MORE STIMULUS

Hopes of a quick US economic recovery are fading as coronavirus infections showed few signs of slowing.

That means the economy could capitulate without fresh support from the government, with some of earlier steps such as enhanced jobless benefits due to expire this month.

Investors hope US Congress will agree on a deal before its summer recess but there are some sticking points including the size of the stimulus and enhanced unemployment benefits.

US Treasury Secretary Steve Mnuchin said the package will contain extended unemployment benefits with 70 percent "wage replacement".

Democrats, who control the House of Representatives, want enhanced benefits of $600 per week to be extended and look to much bigger stimulus compared with the Republicans' $1 trillion plan.

Investors are looking to corporate earnings from around the world for hints on the pace of recovery in the global economy.

"It looks like rising coronavirus cases are starting to slow down recovery in many countries," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui DS Asset Management.

Concerns about the US economic outlook started to weigh on the dollar, reversing its inverse correlation with the economic well-being over the past few months.

The dollar index dropped 0.3 percent to its lowest level in nearly two years.

The euro gained 0.3 percent to $1.1693, hitting a 22-month high of $1.16590 as sentiment on the common currency improved after European leaders reached a deal on a recovery fund in a major step towards more fiscal co-operation.

Against the yen, the dollar slipped 0.5 percent to 105.605 yen, a four-month low while the British pound hit a 4 1/2-month high of $1.2832.

Oil prices dipped on worries about the worsening Sino-US relations.

Brent futures fell 0.46 percent to $43.14 per barrel while US crude futures lost 0.44 percent to $41.11.

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