Russia-dependent Europe learns necessary lesson on energy security: Official

With the necessary lesson learned on energy security in the EU due to developments between Russia and Ukraine, measures are being implemented to ensure supply security, Paula Pinho, director of Just Transition at the European Commission Directorate-General for Energy, said on Friday.

 

Pinho, who spoke during the Gas Infrastructure Europe annual conference in Hungary’s capital Budapest, acknowledged that Europe’s resilience is being tested with the continent facing difficulties now that Russian energy supplies are under sanctions.

 

“We not only wish for the best but also take measures for the worst,” she said.

 

She confirmed that the constant communication between member countries has led to the conclusion that a new policy is required to end dependency on Russian energy sources.

 

“Russia has a really big share in our energy mix. We took a big step for the first time by imposing sanctions on Russian coal,” she said.

 

However, Europe, which is highly dependent on Russian gas, has also seen some member countries stop natural gas imports from Russia, namely Lithuanian and Estonia.

 

To ensure supply security for next winter, she said measures are being taken to ensure full natural gas storage and energy efficiency in preparation for the worst-case scenario.

 

“We have policies that will yield results in the medium and long term. We have to act quickly. We are also working on a package that regulates natural gas storage, but we should focus most of our energy on renewables and emphasize efficiency.”

 

To this end, Pinho urged countries that do not have their own natural gas storage to contribute to the storage facilities available in other member countries.

 

The Russia-Ukraine war, which started on Feb. 24, has drawn international outrage, with the EU, US, and Britain, among others, implementing tough financial sanctions on Moscow.

 

The EU is considering further sanctions against Russia’s energy industry in response to the situation in Ukraine, with the goal of prohibiting the delivery of energy resources such as oil, gas, and coal.

 

Source: Anadolu Agency

Most Asian stock markets up at Friday’s close

Most major Asian stock exchanges closed on Friday in the green amid persisting geopolitical tensions and a rise in coronavirus cases.

 

The Asia Dow, which includes blue-chip companies in the region, rose slightly by over 2 points, or 0.06%, to 3,550 at 1042 GMT.

 

Tokyo’s Nikkei 225 stock exchange enjoyed a 97-point, or 0.36%, rise to close the week at 26,986.

 

China’s Shanghai Stock Exchange climbed 15 points, or 0.47%, to 3,251 on Friday, while India’s Sensex benchmark performed the best, rising 412 points or 0.7% to 59,447.

 

The Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong stock exchange, went up by 63.03 points, or 0.29%, to close at 21,872.

 

On the other hand, the Singapore index fell 21 points, or 0.62%, for a daily ending of 3,383.

 

Source: Anadolu Agency

World food prices see huge leap in March

World food prices have increased by 17.9 points or 12.6% month-on-month in March making a “giant leap” to a new historic high, the UN’s Food and Agriculture Organization (FAO) said on Friday.

 

“The latest increase reflects new all-time highs for vegetable oils, cereals and meat sub-indices, while those of sugar and dairy products also rose significantly,” the FAO added.

 

The FAO food price index (FFPI) was at 159.3 points last month, also increasing by 40.1 points from March 2021.

 

FFPI is a trade-weighted index that tracks international market prices of five major food commodity groups.

 

Vegetable oil price index surges to all-time high

 

The cereal price index rose by 46.2 points year-on-year in March and 24.9 points on a monthly basis to reach 170.1.

 

“This month’s increase reflected a surge in world prices of wheat and coarse grains, largely driven by conflict-related export disruptions from Ukraine and, to a lesser extent, the Russian Federation,” it added.

 

Possible exports loss from the Black Sea region and concerns over crop conditions in the US pushed world wheat prices up in March, it added.

 

The FAO vegetable oil price index reached a new all-time high in March by increasing 46.9 points from February and 89.3 points from March 2021 to 248.6.

 

“The sharp rise of the index was driven by higher sunflower, palm, soy and rapeseed oil prices. International sunflower seed oil quotations increased substantially in March, fueled by reduced export supplies amid the ongoing conflict in the Black Sea region,” the FAO said.

 

The FAO sugar price index averaged 117.9 points in March, rising 7.4 points or 6.7% from February. It was also up by 21.7 points from March 2021.

 

The increase in sugar stemmed from the sharp increase in international crude oil prices that raised possibilities of a greater use of sugarcane for ethanol production.

 

The FAO meat price index went up 5.5 points on a monthly and 19.2 points on a yearly basis in March to 120.

 

“The FAO Dairy Price Index averaged 145.2 points in March, up 3.7 points from February, marking the seventh consecutive monthly increase and lifting the index 27.7 points (23.6 percent) above its value a year ago,” it added.

 

Source: Anadolu Agency

Who are the 8 members of Yemen’s new presidential council?

Yemeni President Abed Rabbo Mansour Hadi issued an order early Thursday dismissing Vice President Ali Mohsen al-Ahmar and delegating his powers to a newly formed presidential council to lead the country through a transitional period.

 

According to Yemen’s official news agency Saba, Rashad Al-Alimi will head the eight-member council.

 

The other members of the leadership council are Sultan Ali Al-Arada, Tariq Mohammed Saleh, Abdulrahman Abu Zara’a, Abdullah Bawazeer, Othman Hussein Megally, Aidarous Qassem Al-Zubaidi and Faraj Salmin Al-Bahsani.

 

A number of Arab states have welcomed the announcement.

 

The following are brief profiles of the presidential council members.

 

Rashad Al-Alimi

 

Born in Yemen’s southwest province of Taiz in 1954, Al-Alimi received his bachelor’s degree in Military Sciences from the Kuwait Police College in 1975 and another university degree in Arts from Sana’a University in 1977.

 

He also holds a master’s and doctorate degree in sociology both from Egypt’s Ain Shams University, which he earned in 1984 and 1988 respectively.

 

Al-Alimi previously served as an adviser to the president of the republic. He also headed the Supreme Security Committee and served as Deputy Prime Minister for Defense and Security Affairs and Minister of Interior.

 

Abdullah Bawazeer

 

Bawazeer was born in Shabwa governorate in south-central Yemen in 1979. He completed his university education in general medicine at the University of Aden, where he is currently a faculty member.

 

He also obtained a bachelor’s degree in Sharia and Law from the Yemeni University of Science and Technology and a master’s in Management from the University of Malaysia.

 

Bawazeer boasts extensive relations with various Yemeni components. He served as the Director of the Office of the Presidency of the Republic for years and is considered one of President Hadi’s inner circle.

 

Faraj Salmin Al-Bahsani

 

Born in Yemen’s eastern Hadhramaut governorate in 1955, Al-Bahsani joined the national army in 1971.

 

He is currently the governor of Hadhramaut and is also a major general commanding the second military region that operates in the province.

 

Al-Bahsani earned a bachelor’s degree in artillery and missiles from the Higher Military College of the Soviet Union in 1975 and a master’s degree from Russia’s Frunze Military Academy in 1983 and went on to hold several positions in the army.

 

Sultan Ali Al-Arada

 

Al-Arada was born in the central province of Marib in 1958. He graduated from Sanaa University’s Faculty of Arts and has been involved in political work for the past four decades.

 

He previously served as Marib’s governor when the Houthi rebels were intensifying their advances to capture the oil-rich province, further enhancing his prominence.

 

He also holds the rank of major general in the army and was once a deputy in parliament.

 

Al-Arada is considered one of the most prominent tribal and military figures in Marib and Yemen in general.

 

Tariq Mohammed Saleh

 

A nephew of the late Yemeni President Ali Abdullah Saleh, Saleh was born in 1970 and is a prominent military commander in the army with the rank of brigadier general.

 

He currently heads the Emirati-backed National Resistance Forces based in the strategic city of Mocha near the Bab al-Mandab Strait.

 

Believed to be a close ally of the United Arab Emirates (UAE), Saleh also enjoys good relations with the Saudis.

 

Othman Hussein Megally

 

Megally was born in 1970. He is a lawmaker and one of the tribal leaders in Yemen’s southwest Saada province, the main stronghold of the Houthis.

 

In 2003, he joined the General People’s Congress and held several political positions, most notably Minister of Agriculture.

 

Aidarous Qassem Al-Zubaidi

 

Born in Al-Dhalea province in 1967, Al-Zubaidi is a political leader and currently heads Yemen’s separatist Southern Transitional Council.

 

He previously served as governor of Aden.

 

Abdulrahman Abu Zara’a

 

Abu Zara’a is known for his participation in many battles against the Houthis across Yemen.

 

Known among Yemenis as Abu Zara’a Al Muharrami, he also leads the UAE-backed Giants Brigades, a militia which managed in early 2022 to capture the southern oil province of Shabwa from the Houthis.

 

He is also known to be a Salafist, one of the Muslim religious orientations.

 

Abu Zara’a rarely makes media appearances and is believed to have has close ties with the UAE and Saudi Arabia.

 

Yemen has been engulfed by violence and instability since 2014, when Iran-aligned Houthi rebels captured much of the country, including the capital Sanaa.

 

A Saudi-led coalition which seeks to reinstate the Yemeni government has worsened the situation, causing one of the world’s worst man-made humanitarian crises. Nearly 80% of the country’s total population of around 30 million are in need of humanitarian assistance and protection and more than 13 million are in danger of starvation, according to UN estimates.

 

Source: Anadolu Agency

Immigration and identity key themes for French presidential candidates

Russia’s war on Ukraine and the displacement of millions of Ukrainians have evoked widespread sympathy among the French people to welcome the refugees with open arms into the country, but it has not deterred presidential hopefuls from making the fight against foreign immigration a key agenda of their electoral campaign.

 

With the consequences of the war looming large on the economy and energy and food sectors, immigration is not even the main concern of voters this presidential election, but it continues to be the dominant topic of discussion for the presidential candidates.

 

The debate on immigration is closely linked with issues of security, the so-called “Islamization of France,” and Blacks and race in the eyes of many. The key theme overriding all of them is a crisis of French identity. Politicians of all shades — right, left and centrist — have argued that the increasing immigration of foreign nationals has degraded traditional French values.

 

“When we are afraid of migratory phenomena, I think that we must also defend our DNA,” outgoing President Emmanuel Macron reminded his supporters during his only election rally held on April 2. While he positions himself as a global leader, commentators have described him as a left-wing politician who plays right-wing politics, as his policies and statements during his first term in office have reflected the agenda of the far-right.

 

He proudly proclaimed that it is the duty of the French to welcome those like the Ukrainians fleeing the war but warned that France also needed “to know how to fight against illegal immigration.” “It is through this clarity and this requirement (to fight illegal immigration) that, I think, we can respond to fears,” he assured supporters.

 

Several nonprofit organizations working with asylum seekers have denounced the Macron government of racial discrimination by promptly providing accommodation for Ukrainian refugees while harassing the homeless refugees and migrants from Asia, Africa, and the Middle East. The unequal treatment has become more evident in the wake of the disastrous shipwreck tragedy in December that claimed the lives of 27 immigrants as they undertook the dangerous crossing through the Channel sea towards the United Kingdom off the French coast.

 

While Macron has vowed to reform the asylum system with faster decisions on the requests, he wants those who are refused the right of asylum to obligatorily leave the French territory. He also wants to condition the granting of a long-stay permit to those who succeed in the French language exam and who are professionally successful, thereby preventing France from being populated by desperate economic migrants.

 

Right-wing’s preferred agenda

 

Far-right candidate Eric Zemmour has declared himself a savior of the French and framed his election campaign around fighting an immigrant “invasion” and restoring the country’s glorious past. His election campaign popularity — polls rank him in fifth place with a 9% voting share — is solely attributable to his right-wing agenda, which attacks immigrants and Islam, espouses white nationalism, and peddles a conspiracy theory called the Great Replacement.

 

The former journalist and leader of the Reconquest party sought to refocus the attention of the French people, which has been diverted by the war.

 

“The war does not solve the fundamental problem of our country, which is that we are undergoing an unprecedented crisis of disintegration, a great replacement of the population,” he declared during a campaign interview on BFMTV on March 30.

 

If elected, Zemmour promises to strip dual nationals who are offenders of their French citizenship.

 

“I will expel 1 million people,” he said on Monday during a rally. He also wants to create a ministry for remigration that will expel unwanted foreigners — offenders, prisoners, those staying illegally, unemployed — and limit the right to asylum “to a handful of individuals per year.”

 

His main rival, Marine Le Pen, has for many years built her political career and the National Rally party through fear-mongering about foreign immigrants. She is currently leading in the polls for the presidential office after Emmanuel Macron.

 

Her immigration manifesto too closely resembles that of Zemmour’s. Le Pen has also vowed to ban the regularization of foreign immigrants who are without valid documents and are staying without the requisite permission, penalize illegal entry and expel all foreigners who have not worked in France for more than a year.

 

The radically shocking views of Zemmour and Le Pen have resonated with French voters and earned a high probability of voting share on matters of immigration. An IPSOS-Sopra Steria survey with the Sciences Po Political Research Center (Cevipof) released on April 4 shows voters have the highest confidence in Zemmour with 73%, over Le Pen’s (54%) with only 11 % for Macron, to control immigration into France.

 

The candidate for the conservative Les Republicains (LR) party, Valerie Pecresse, who is tied with Zemmour in the fourth position according to polls for voting intentions, promises to regain “control of immigration to defend our identity and our culture.”

 

She wants to implement annual immigration quotas, deport immigrants who have returned illegally by sending them off on charter planes, deport rejected asylum seekers within two months, and reduce social assistance allocations for asylum seekers.

 

All the candidates who have vowed to oppose immigration have announced that they will take part in the government’s program to welcome Ukrainians.

 

Pro-immigrant candidates

 

Contrary to the perception, not all presidential candidates propagate anti-immigration sentiments. Six of the 12 final candidates have proposed positive steps toward asylum seekers, economic migrants, and refugees arriving in France.

 

Workers’ Struggle (Lutte Ouvriere) party candidate Nathalie Arthaud has said that immigrants contribute positively to the French economy.

 

“Without immigrants, the construction, hospital, airport, hotel, cleaning, security, transport, car industry, and food industry sectors could not function,” she affirmed in her election manifesto and proposes to establish freedom of movement for migrants.

 

Besides her, working-class representative Phillipe Poutou, left-wing candidate Jean-Luc Melenchon, Paris Mayor Anne Hidalgo, Europe Ecologie Les Verts party candidate Yannick Jadot and French Communist party candidate Fabien Roussel have declared a pro-immigrant program. It includes steps to regularize all undocumented migrants, guarantee asylum to refugees, ensure a dignified reception for asylum seekers in all circumstances, close administrative detention centers, offer the right to work and end European Border and Coast Guard Agency (Frontex) operations, which include border control in the Mediterranean Sea and the repatriation of unauthorized immigrants.

 

Rhetoric vs Numbers

 

Even if immigration dominates debates and helps boost the popularity of the candidates, official data reveals the situation is less dire than projected by politicians. France is not being flooded by economic migrants trying to take advantage of the country’s resources or steal the jobs of the local people.

 

According to the Interior Ministry, in 2021, 733,069 visas were issued for the purposes of family reasons, followed by students, humanitarian and economic. A total of 94,092 people acquired French nationality. Last year, it received 121,554 requests for asylum applications, including from minors, mainly from war-ravaged Afghanistan, Ivory Coast, Bangladesh, and Guinea. Of these, 39% were granted protection, while the rest of the asylum applications got rejected. Documented immigrants, according to the Ministry of Labor, represent merely 10% of employment in France, mostly in services jobs, construction, and public works.

 

The French take immense pride in the country’s official motto of freedom, equality, and brotherhood. But the political discourse has focused on subjecting the immigrants to constantly prove their allegiance to the values of the Republic. The next five years of the new government are likely to bring in major systemic reforms on immigration and border control, and along with it, immigration and French identity will continue to be a topic used as a political punching bag.

 

Source: Anadolu Agency

Russia’s central bank cuts key interest rate to 17%

“Today’s decision reflects a change in the balance of risks of accelerated consumer price growth, decline in economic activity and financial stability risks,” the Bank of Russia said in a statement.

 

It stressed that the bank will take into account external and domestic risks, financial market reactions and the course of inflation for its further decisions.

 

The central bank also said future cuts is possible.

 

“The Bank of Russia …. holds open the prospect of further key rate reduction at its upcoming meetings,” it said.

 

The country’s annual consumer inflation rose to 16.70% for the first week of April, hitting its highest level in the last seven years.

 

In March, the bank kept the rate constant at 20% after February’s dramatic hike from 9.5% amid sanctions due to its war on Ukraine.

 

The Bank of Russia Board of Directors will hold its next rate review meeting on April 29. The press release on the Bank of Russia Board decision and the medium-term forecast are to be published at 1.30 p.m. Moscow time (1030GMT).

 

Source: Anadolu Agency

Turkiye conveys Ukraine urgency of civilian evacuation from Mariupol

In a phone call with his Ukrainian counterpart, Turkiye’s national defense minister on Friday emphasized the urgency of safe evacuation of civilians, especially in Mariupol, Ukraine.

 

Hulusi Akar told Oleksii Reznikov about the importance of reaching a cease-fire to help efforts for a diplomatic solution in Ukraine, as well as the “urgency of the safe evacuation of civilians, especially in Mariupol, from the land or sea,” according to a statement by the Turkish National Defense Ministry.

 

Akar reiterated that Turkiye will continue to do its part for humanitarian aid to Ukraine, the statement added.

 

He spoke with his Russian counterpart on Thursday and highlighted the urgency of the safe evacuation of civilians.

 

Turkiye has been making efforts to end Russia’s war on Ukraine, which began on Feb. 24 and has drawn international outrage and severe sanctions on Moscow.

 

Source: Anadolu Agency

US stocks rebound from losses of Fed eyeing more hikes

Major indices in the US stock market rebounded to close higher Thursday, recovering from losses as the Federal Reserve prepares to hike interest rates in the coming months.

 

Despite plummeting around 300 points earlier, the blue-chip Dow Jones industrial average was up 87 points, or 0.25%, to close at 34,583.

 

The S&P 500 rose 19 points, or 0.43%, to end at 4,500.

 

The tech-heavy Nasdaq was up 8 points, or 0.06%, to finish at 13,897.

 

Earlier losses came after St. Louis Fed President James Bullard said the Fed needs to raise its benchmark interest rate to 3.5% and the central bank’s current policy rate is “too low by about 300 basis points.”

 

Fed officials support one or more 50 basis point interest rate increases at future meetings if inflation remains high or keeps climbing, according to minutes released on Wednesday.

 

At the final bell, the VIX volatility index, known as the fear index, was down 2.5% to 21.55.

 

The dollar index rose 0.22% to 99.82, while the yield on 10-year US Treasury notes climbed 1.66% to 2.652%.

 

Precious metals were on the rise, with gold adding 0.32% to $1,931 per ounce and silver rising 0.56% to $24.6.

 

Global oil benchmark Brent crude was trading at $101.28, up 0.2%, while US benchmark West Texas Intermediate (WTI) was at $96.92 — a 0.7% gain.

 

Source: Anadolu Agency

Economists expect no change in Turkiye’s interest rate

The Turkish Central Bank is expected to keep its interest rate constant next week, an Anadolu Agency survey found on Friday.

 

Next Thursday, the bank will hold its fourth Monetary Policy Committee meeting this year to announce its decision about interest rates.

 

All of the 18 economists surveyed by Anadolu Agency forecast no change in interest rates.

 

The Central Bank kept the policy rate constant in its previous three meetings this year after cutting it by 100 basis points from 15% to 14% in December 2021.

 

Turkiye’s annual consumer inflation hit 20-year high in March at 61.14%.

 

Source: Anadolu Agency