Russia vetoes for 8th time UN resolution on Syria

April 13, 2017

New York, Apr 13: Russia vetoed Wednesday a UN draft resolution demanding the Syrian regime cooperate with an investigation of a deadly toxic gas attack on Syrian civilians last week which the West blames on the regime of Bashar Assad.

veto

It was the eighth time that Russia has used its veto power at the UN Security Council (UNSC) to block action directed at its ally in Damascus.

The US told Russia at the UN that it is isolating itself by continuing to support the Syrian president, while Britain said its scientists found that sarin was used in a deadly toxic gas attack on Syrian civilians last week.

“To my colleagues from Russia, you are isolating yourselves from the international community every time one of Assad's planes drops another barrel bomb on civilians, and every time Assad tries to starve another community to death,” US Ambassador to the UN Nikki Haley told the UNSC.

During a heated UNSC meeting, Russia's Deputy UN Ambassador Vladimir Safronkov told the 15-member body that Western countries were wrong to blame Assad for the attack in the town of Khan Sheikhun. “I'm amazed that this was the conclusion. No one has yet visited the site of the crime. How do you know that?” he said.

Britain's UN Ambassador Matthew Rycroft told the UNSC that samples taken from the site of the gas attack, in an opposition-held area of northern Syria, have tested positive for the nerve gas sarin. He accused Russia of siding with “a murderous, barbaric criminal, rather than with their international peers.”

Haley accused Iran of being “Assad's chief accomplice in the regime's horrific acts,” adding: “Iran is dumping fuel on the flames of this war in Syria so it can expand its own reach.”

UN Syria mediator Staffan de Mistura warned the UNSC on Wednesday that fragile progress in peace talks was now “in grave danger.”

Meanwhile, US Secretary of State Rex Tillerson battled to overcome differences with his Russian counterpart on Wednesday. They remained split over the chemical attack in Syria after talks in Moscow.

“Despite the quantity of existing problems... there are considerable prospects for joint work,” Russian Foreign Minister Sergei Lavrov told a news conference after talks with Tillerson and Russian President Vladimir Putin.

“Russia is open to this, open to dialogue with the US in all different areas, not only to dialogue but to joint action aimed at results in the areas where this corresponds to the interests of both countries,” said Lavrov.

Tillerson, who met with Putin earlier on Wednesday, deplored the “low level of trust” between the countries, whose relations have dropped to a post-Cold War low over Ukraine and Syria. “The world's two foremost nuclear powers cannot have this kind of relationship,” Tillerson said.

He said working groups would be established to improve US-Russian ties and identify problems, adding that the two sides would discuss disagreements on Syria and how to end its six-year civil war.

Tillerson said Syria's regime had committed more than 50 attacks using chlorine or other chemical weapons during the conflict. He suggested that possible war crimes charges could be levied against Assad.

Russia has never publicly acknowledged any such attack by Assad's forces, and has tried for the past 18 months to help him expand his authority in Syria.

Lavrov said Moscow was ready to resume a deal with Washington to avoid incidents in Syrian airspace as the two countries lead separate bombing campaigns.

“Today the president confirmed our readiness to return to its implementation on the understanding that the original aims of the air forces of the American coalition are reaffirmed, namely the fight with IS (Daesh) and Al-Nusra,” Lavrov said.

The deal was suspended after US strikes against a Syrian air base following last week's gas attack in Idlib province, in an act Moscow labeled “aggression against a sovereign state.” The two sides agreed to work together on an international investigation of the gas attack.

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News Network
April 19,2020

Washington, Apr 19: President Donald Trump has expressed his doubts over the official Chinese figures on the number of deaths in their country due to the novel coronavirus pandemic, claiming that the fatalities were way ahead of the US.

Trump's comments come two days after another 1,300 fatalities were added to the official count in the city of Wuhan, where the outbreak started. The revision puts China's overall death toll to more than 4,600.

"We are not number one; China is number one just so you understand," Trump told reporters at a White House news conference on Saturday. "They are way ahead of us in terms of death. It's not even close."

According to Trump, when highly-developed healthcare systems of the UK, France, Belgium, Italy and Spain had high fatality rates, it was O.33 in China.

The president asserted that the actual number was much more than the official Chinese death toll figures, which he said were "unrealistic".

"You know it, I know it and they know it, but you don't want to report it. Why?" he asked. "You will have to explain that. Someday I will explain it."

He also highlighted that on a per-capita basis, the mortality rate in the US was far lower than other nations of Western Europe.

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Agencies
January 25,2020

Pentagon, Jan 25: Thirty-four US troops had been diagnosed with concussions and traumatic brain injury (TBI) as a result of the January 8 Iranian missile attack on two military bases in Iraq housing American soldiers, the Pentagon said.

"Eight service members who were previously transported to Germany have been brought to the US, they would continue to receive treatment in the US either at Walter Reed or their home bases," Pentagon spokesman Jonathan Hoffman told the media on Friday.

Hoffman said that nine service members were still undergoing treatment in Germany, and the rest of the 17 injured troops have already returned to duty in Iraq, reports Xinhua news agency.

Lat week, the US military had said that 11 service members were treated for concussion symptoms due to the missile attacks.

Hoffman noted that the symptoms "are late developing and manifested over a period of time".

In retaliation for the killing of Iranian Major General Qasem Soleimani in an American drone attack on January 3 in Baghdad, Tehran launched over 13 ballistic missiles on the two military bases in Anbar and near the city of Erbil.

US military initially said that no casualty was reported from the Iranian attack. President Donald Trump then downplayed the seriousness of those injures.

"I heard that they had headaches and a couple of other things, but I would say and I can report that it's not very serious," Trump told reporters on Wednesday at a press conference in Davos, Switzerland.

More than 5,000 US troops are deployed in Iraq to support the country's forces in the battle against Islamic State militants.

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News Network
April 21,2020

New York, Apr 21: Oil prices plunged below zero on Monday as demand for energy collapses amid the coronavirus pandemic and traders don't want to get stuck owning crude with nowhere to store it.

Stocks were also slipping on Wall Street in afternoon trading, with the S&P 500 down 0.9%, but the market's most dramatic action was by far in oil, where benchmark U.S. crude for May delivery plummeted to negative $3.70 per barrel, as of 2:15 pm. Eastern time.

Much of the drop into negative territory was chalked up to technical reasons — the May delivery contract is close to expiring so it was seeing less trading volume, which can exacerbate swings. But prices for deliveries even further into the future, which were seeing larger trading volumes, also plunged.

Demand for oil has collapsed so much due to the coronavirus pandemic that facilities for storing crude are nearly full.

Tanks could hit their limits within three weeks, according to Chris Midgley, head of analytics at S&P Global Platts.

Benchmark U.S. crude oil for June delivery, which shows a more ”normal” price, fell 14.8% to $21.32 per barrel, as factories and automobiles around the world remain idled. Big oil producers have announced cutbacks in production in hopes of better balancing supplies with demand, but many analysts say it's not enough.

“Basically, bears are out for blood,” analyst Naeem Aslam of Avatrade said in a report. “The steep fall in the price is because of the lack of sufficient demand and lack of storage place given the fact that the production cut has failed to address the supply glut.”

Halliburton swung between gains and sharp losses, even though it reported stronger results for the first three months of 2020 than analysts expected. The oilfield engineering company said that the pandemic has created so much turmoil in the industry that it “cannot reasonably estimate” how long the hit will last. It expects a further decline in revenue and profitability for the rest of 2020, particularly in North America.

Brent crude, the international standard, was down $1.78 to $26.30 per barrel. .

In the stock market, the mild drops ate into some of the big gains made since late March, driven lately by investors looking ahead to parts of the economy possibly reopening as infections level off in hard-hit areas.

Pessimists have called the rally overdone, pointing to the severe economic pain sweeping the world and continued uncertainty about how long it will last.

The Dow Jones Industrial Average was down 364 points, or 1.5%, to 23,887. The Nasdaq was down 0.1%..

More gains from companies that are winners in the new stay-at-home economy helped limit the market's losses Amazon rose 1.4%, and Netflix jumped 3.8% as people shut in at home buy staples and look to fill their time. Clorox likewise rose toward a new record and was up 1% as households and businesses that remain open look to stay clean.

In Tokyo the Nikkei 225 fell 1.1% after Japan reported that its exports fell nearly 12% in March from a year earlier as the pandemic hammered demand in its two biggest markets, the U.S. and China.

The Hang Seng index in Hong Kong lost 0.2%, and South Korea's Kospi fell 0.8%.

European markets were modestly higher The German DAX was up 0.5%, the French CAC 40 was up 0.7% and the FTSE 100 in London gained 0.7%.

In a sign of continued caution in the market, Treasury yields remained extremely low. The yield on the 10-year Treasury slipped to 0.64% from 0.65% late Friday. It started the year near 1.90%. Bond yields drop when their prices rise, and investors tend to buy Treasurys when they're worried about the economy.

Stocks have been on a generally upward swing recently, and the S&P 500 just closed out its first back-to-back weekly gain since the market began selling off in February. Promises of massive aid for the economy and markets by the Federal Reserve and U.S. government ignited the rally, which sent the S&P 500 up as much as 28.5% since a low on March 23.

More recently, countries around the world have tentatively eased up on business-shutdown restrictions put in place to slow the spread of the virus.

But health experts warn the pandemic is far from over and new flareups could ignite if governments rush to allow ”normal” life to return prematurely.

The S&P 500 remains about 15% below its record high in February as millions more U.S. workers file for unemployment every week amid the shutdowns.

Many analysts also warn that a significant part of the recent recovery in stocks is due to the expectation among some investors that the economy will rebound sharply once economic quarantines are lifted. They're essentially predicting that a line chart of the economy will ultimately resemble the letter “V,” with a wild ride down but then a quick pivot to a vigorous recovery.

That may be to optimistic. “We caution that a U-shaped recovery is also quite likely,” where the economy bottoms out and stays at that low level for a while before recovering, strategists at Barclays warned in a recent report.

Without strong testing programs for COVID-19, businesses likely won't feel comfortable bringing back their full workforces for a while.

”With risk assets now overbought, the chance for a correction has increased,” Morgan Stanley strategists wrote in a report.

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