Day: September 9, 2022

Oil prices increased on Friday over supply uncertainties with a more aggressive energy war between the EU and Russia, while lockdowns in China, the world’s largest oil-consuming country, continue weighing on market sentiment, increasing demand concerns.

International benchmark Brent crude traded at $89.47 per barrel at 10.10 a.m. local time (0710 GMT) for a 0.36% gain from the closing price of $89.15 a barrel in the previous trading session.

American benchmark West Texas Intermediate (WTI) traded at $83.70 per barrel at the same time for a 0.19% increase after the previous session closed at $83.54 a barrel.

Oil prices increased on Friday, although registering losses on a weekly basis, as investors assess risks of the escalation in the energy war between the EU and Russia, with the EU’s latest move in seeking options to impair the Russian economy.

Russian President Vladimir Putin said on Wednesday that Moscow is ready “to switch on” the Nord Stream II pipeline “tomorrow” to deliver gas to Europe if the EU gives the green light.

His remarks came after G7 member states agreed last week to cap Russia’s crude oil export prices. In the aftermath, Russian energy giant Gazprom said its key Nord Stream pipeline that supplies gas to Europe would remain shut due to a technical issue and could not restart until it is fixed.

Meanwhile, lingering demand concerns continue exerting downward pressure on prices as China insists on strict pandemic measures.

Prices fell to lows seen before the Russian-Ukraine war, with Brent decreasing to $91.20 in previous trade over weak demand fears following lockdowns imposed in China on Saturday on an estimated 65 million people across some 33 cities, according to public information compiled by Caixin.

On Thursday, the country extended lockdown measures in the western city of Chengdu, a city home to almost 21 million people.

Demand concerns further increased after the Energy Information Administration (EIA) said on Thursday that US commercial crude oil inventories rose by around 8.8 million barrels to 427.2 million barrels, against the market expectation of a rise of 3.6 million barrels.

Strategic petroleum reserves, which are excluded in commercial crude stocks, fell by 7.5 million barrels to 442.5 million barrels last week, the data revealed.

Gasoline inventories increased by 300,000 barrels to 214.8 million barrels over the same period.

Contributing to economic concerns and petroleum demand, the European Central Bank (ECB) on Thursday hiked its three key rates by 75 basis points each in a historic move, as eurozone inflation faces a record-high and war-driven energy crisis, creating new risks for the entire region.

Australia’s central bank on Tuesday also raised its policy interest rate – cash rate by 50 basis points to 2.35%.

Source: Anadolu Agency

Manchester United lost to Spain’s Real Sociedad 1-0 in a UEFA Europa League Group E match in England, with both sides paying homage before the game to Britain’s Queen Elizabeth II, who died on Thursday.

In the second half, Real Sociedad were awarded a penalty kick after home team’s defender Lisandro Martinez handballed in the area.

Spanish midfielder Brais Mendez scored from the white spot in the 59th minute at Old Trafford in the winning goal for the Spanish club.

Before the kick-off at Old Trafford, both Manchester United and Real Sociedad players held a minute of silence in tribute to the late Queen Elizabeth, who was 96.

During the match, the players also wore black armbands.

UEFA mourns queen

European football’s governing body expressed its condolences to the Royal Family and British citizens after the death of the long-serving monarch.

“UEFA and European football are truly saddened by the passing away of Her Majesty Queen Elizabeth II, one of the world’s most-respected figures,” UEFA said in a statement.

It added that a moment of silence was observed at all matches involving British clubs on Thursday.

Source: Anadolu Agency

During Turkish President Recep Tayyip Erdogan’s visit to Sarajevo, Member of the Presidency of Bosnia and Herzegovina Željko Komšic said that “Turkish President Recep Tayyip Erdogan and the policy of Türkiye are one of the rare things on which all the members of the Presidency of Bosnia and Herzegovina agree. The stabilizing role of Türkiye in Bosnia and Herzegovina, but also in the entire region, should be emphasized.”

These words, as an achievement of Turkish foreign policy in the Balkans that has been going on for more than 20 years, come from a politician of a country where the political structure is divided between three ethnicities.

That’s why, before the mini-Balkan tour, President Erdogan made a statement that “we witness that the balanced and fair attitude of our country is appreciated by all the peoples of this geography. We will maintain this stance in the coming period as well”.

Türkiye maintains a balanced and stable policy in the region. Especially the territory, integrity, and sovereignty of Bosnia and Herzegovina and Kosovo are of vital importance for peace and stability in the Balkans, according to Turkish foreign policy.

Important visits to the Balkans in a row

In recent years, especially in the post-pandemic period, the economy and politics are intertwined globally. Given that economic power translates into political power, Türkiye can become more involved in regional political issues by increasing its economic and investment capacity throughout the region.

Türkiye organized consecutive visits to the region within a week, that Turkish Foreign Minister Mevlut Cavusoglu visited Belgrade to participate in the Open Balkan Initiative Summit on 2 September 2022. The initiative is mostly described as an “important economic project” and covers Albania, North Macedonia, and Serbia. A few days later, Turkish President Recep Tayyip Erdogan set off on a three-day Balkans tour on September 6-8 to try to mediate regional problems and improve economic relations.

It may be observed that economic cooperation was the focus of Erdogan’s visit with the economic delegation of around 200 businessmen given that Turkish companies have increased investment in infrastructure projects throughout the region. Business forums are planned in Sarajevo, Belgrade, and Zagreb, and Erdogan emphasized the aim to improve their economic relations in almost all.

In each country, Türkiye has come a long way in terms of foreign trade volume and investment since the AK Party took power in 2002. As one of the most important investment powers, Türkiye invested 265 million dollars in Bosnia Herzegovina in 2021, and trade volume increased to approximately 600 million dollars in the same year. Bilateral trade volume reached 3 billion dollars between 2017 and 2022.

Analysts say economic relations between Serbia and Türkiye are at the highest level in recent history. Serbian President Vucic describes this period as the golden age that both countries have made great progress. Trade volume reached 1.73 billion dollars in 2021, and imports from Türkiye increased by 43%. There are around 700 Turkish companies, which employ approximately 10,000 people, registered in Serbia.

According to Erdogan’s speech, bilateral trade volume exceeded 760 million dollars in the first eight months of 2022 between Türkiye and Croatia. Türkiye aims to achieve a 2 billion-dollar target.

For years, Türkiye has pursued a successful policy that stepping up economic relations leads to political cooperation and regional stability. Although some of the Balkan countries’ administrations have changed over time, bilateral relations have stayed the same and the need for Türkiye’s economic investments has not decreased.

Türkiye’s mediator status gains respect in the Balkans

In recent years, the international system is constantly producing crises that make it harder for the states to maintain peace and stability. Thus the need for a mediator, or mediators, is growing every day.

Since the Ukraine-Russia war began, Ankara’s vision of keeping lines of diplomacy open with Russia resulted in Türkiye’s hosting the highest-level official meetings between Moscow and Kyiv.

While the world is experiencing a kind of chaos, which causes energy and agricultural supply crises, Türkiye’s recent role in successfully securing the Ukraine grain deal awarded it the title of a potential mediator. In the application of social identity theory, the mediator role has significant importance for Türkiye to reach higher status in the international system of great powers, especially, in times of crisis and hardship. Its status-seeking policies help the country for prestige in mediation where it discovers and performs better than many countries.

While Türkiye pursues a balanced policy among Balkan countries, its mediatory position is clearly respected by the regional leaders. For instance, speaking at a joint press conference in Sarajevo with the representatives of the three-member Presidential Council of Bosnia-Herzegovina, Bosniak member Sefik Dzaferovic appreciated Türkiye’s role in mediation between Russia and Ukraine in solving the grain crisis.

Serbian President Vucic thanked Erdogan for visiting his country and said that “We talked about the situation in Ukraine, we also talked about the non-introduction and in general about sanctions in Russia, we also talked about energy and I asked President Erdogan to help us.”

After meeting with Turkish President Erdogan, President of the Republic of Croatia Zoran Milanovic said that “We discussed a number of topics; Bosnia and Herzegovina, the war in Ukraine, the position of Türkiye, which is delicate and unique, its role as a link and mediator, and about the exchange of goods.” Then Milanovic offered on taking a step forward in terms of economic relations to make it adequate.

Overall, cooperation with Russia in the economic and security fields ensures that Türkiye eases tensions in the new chaotic world order. In the Balkan region, Türkiye’s relations with the countries are characterized by increasing trade and investment volume, easing the disputes and tensions among them as an attitude in line with Turkish foreign policy vision in recent years.

*Opinions expressed in this article are the author’s own and do not necessarily reflect the editorial policy of Anadolu Agency.

Source: Anadolu Agency

Britain’s six former living prime ministers all paid tribute to Queen Elizabeth II in the wake of her death on Thursday.

John Major, prime minister between 1990 and 1997, the successor to Margaret Thatcher, said in a statement: “For 70 years Her Majesty The Queen devoted her life to the service of our nation and its wellbeing.”

“In her public duties she was selfless and wise, with a wonderful generosity of spirit. That is how she lived – and how she led,” he said.

“For millions of people – across the (British) Commonwealth and the wider world – she embodied the heart and soul of our nation, and was admired and respected around the globe,” he added.

Tony Blair, prime minister between 1997 and 2009, said in a statement: “We have lost not just our monarch but the matriarch of our nation, the figure who more than any other brought our country together, kept us in touch with our better nature, personified everything which makes us proud to be British.”

“We will mourn her. We will miss her. But our overwhelming sentiment will be of gratitude, profound, heartfelt and sincere thanks for what she did, what she stood for, for the life she lived and for what she gave us, her grateful subjects. Her reign was indeed glorious. And it was our great good fortune to have had her reign over us,” he said.

Gordon Brown, prime minister between 2007 and 2010, said in a statement: “The United Kingdom, the Commonwealth, and the entire world are joined together in mourning this evening. HM Queen Elizabeth II served this country to the last. I offer my sincere condolences to the Royal Family. May she rest in peace.”

David Cameron, prime minister between 2010 and 2016, said in a statement that there were “no words that can adequately express the sense of loss our nation will feel” and that the queen had been “a rock of strength for our nation and the Commonwealth.”

“There can simply be no finer example of dignified public duty and unstinting service, and we all owe our sincere gratitude for her continued devotion, living every day by the pledge she made on her 21st birthday. Her dedication to our country has been incomparable and, as such, she leaves an enduring legacy,” he said.

“My thoughts and prayers are with the King and the royal family at this time of great sadness,” Cameron said. “The country has lost a devoted public servant; and the royal family has lost a much-loved mother, grandmother and great grandmother.”

‘Great Elizabethan era’

Theresa May, prime minister between 2016 and 2019, said in a statement: “Her Majesty witnessed tremendous change, moving adroitly with the times but always providing stability and reassurance. She was our constant throughout this great Elizabethan era.”

“It was the honour of my life to serve her as prime minister,” she said. “Our thoughts and prayers now are with her family. God Save The King.”

Boris Johnson, who served as prime minister from July 2019 until earlier this week, when he handed in his resignation to the queen, said in a statement: “This is our country’s saddest day. In the hearts of every one of us there is an ache at the passing of our Queen, a deep and personal sense of loss – far more intense, perhaps, than we expected.”

“In these first grim moments since the news, I know that millions and millions of people have been pausing whatever they have been doing, to think about Queen Elizabeth, about the bright and shining light that has finally gone out,” he said.

“Wave after wave of grief is rolling across the world, from Balmoral – where our thoughts are with all the Royal family – and breaking far beyond this country and throughout that great Commonwealth of nations that she so cherished and which cherished her in return,” he continued.

“As is so natural with human beings, it is only when we face the reality of our loss that we truly understand what has gone,” he added.

“Though our voices may be choked with sadness, we can still stay with confidence the words not heard in this country for more than seven decades,” he said.

“God Save The King.”

Source: Anadolu Agency

Royal families around the world on Thursday extended condolences over the death of Britain’s Queen Elizabeth II.

Britain’s longest-serving monarch died at the age of 96, Buckingham Palace announced.

“The Queen died peacefully at Balmoral this afternoon,” said the palace, adding that her successor King Charles III and Camilla, the queen consort, “will remain at Balmoral this evening and will return to London tomorrow.”

In a statement, Spanish King Felipe and Queen Letizia told Charles III that they are “deeply saddened by the sorrowful news of the passing away of Her Majesty Queen Elizabeth II, your beloved Mother.”

They extended condolences to the new king and to the people of Britain, adding: “Her Majesty Queen Elizabeth has undoubtedly witnessed, written and shaped many of the most relevant chapters in the history of our world during the last seven decades.”

Felipe said that the queen’s devotion to duty and her people “set an example for all of us and will remain as a solid and valuable legacy for future generations.”

Swedish King Carl XVI Gustaf said: “My family and I are deeply saddened to learn of the death of my dear relative Her Majesty Queen Elizabeth II.”

Gustav is Elizabeth’s third cousin, and both are descendants of Queen Victoria.

“She has been a constant presence, not only in British society but also internationally,” said Gustav, adding his condolences to the queen’s family and to the British people.

King Willem-Alexander, Queen Maxima, and Princess Beatrix of the Netherlands also paid tribute to the late queen in a joint message.

“We remember Queen Elizabeth II with deep respect and great affection. Steadfast and wise, she dedicated her long life to serving the British people,” they said.

“We feel a strong bond with the United Kingdom and its royal family, and we share their sorrow at this time. We are very grateful for our countries’ close friendship, to which Queen Elizabeth made such an unforgettable contribution.”

Norway’s King Herald said in a statement: “Our thoughts go out to His Majesty the King and the immediate family at Queen Elizabeth’s passing.”

“For a century, the Queen devoted herself devotedly to her work and accompanied the British people through joys and sorrows, in good times and bad times. Our condolences also go to the British people,” he added.

Queen Margrethe II of Denmark also sent a message of condolences to Charles III, extending to him and Queen Consort Camilla “warmest thoughts and prayers.”

“Your mother was very important to me and my family. She was a towering figure among the European monarchs and a great inspiration to us all. We shall miss her terribly,” said the queen.

Margrethe II said the world changed dramatically during Elizabeth’s reign but that “she has played a crucial role as a unifying figure highly respected and deeply loved.”

“Denmark and I are grateful for her continuous efforts to further strengthening the close and warm relations that have always existed between our two nations,” she added.

Beacon of wisdom’

The heads of royal families in Arab countries also mourned the passing of Britain’s longest-reigning monarch.

Jordan’s King Abdullah II said in a tweet: “Jordan mourns the passing of an iconic leader. Her Majesty Queen Elizabeth II was a beacon of wisdom and principled leadership for seven decades.

“She was a partner for Jordan and a dear family friend. We stand with the people and leadership of the UK at this difficult time.”

Qatar’s Emir Sheikh Tamim bin Hamad Al-Thani said on Twitter: “Sincere condolences to the British royal family and its people on the death of HM Queen Elizabeth II, with whose passing the world lost a great human symbol.”

He added: “She was a source of inspiration and nobility and had solid and constructive relations with Qatar that strengthened the bonds of friendship and partnership between our two peoples.”

Source: Anadolu Agency

More than 1.5 million Turkish liras (over $82,400) was pledged Thursday to Pakistan flood victims during a virtual fundraiser by the country’s diplomatic mission in Ankara.

The embassy held the event to collect donations for Pakistan where more than 33 million are affected by unprecedented floods.

Muhammad Syrus Sajad Qazi, Pakistan’s top diplomat in Türkiye, said the fundraiser was held at a “critical juncture” as millions of Pakistanis were “facing grave danger on account of some of worst floods.”

He said floods from more than normal rains killed 1,355 people and 1 million livestock, damaged 1.7 million houses and affected 2 million acres of arable land.

He thanked Türkiye for support during the difficult times and was emotional as he showed gifts and donations sent to the embassy by Turks, including children who gave their own money.

Türkiye was one of the first responders to the situation in Pakistan and has sent 11 planes and three trainloads of rescue and relief material to help victims.

Turkish lawmaker Ali Sahin offered condolences to flood victims for “my precious Pakistan” and said Turks feel the “pain of brothers and sisters from Pakistan.”

“People of Pakistan are very powerful to overcome these painful days,” he said, adding that Türkiye is closely following the situation.

On the direction of President Recep Tayyip Erdogan, Sahin said two ministers visited Pakistan to “take actions and initiatives” to help mitigate the suffering of victims.

He added the Turkish Disaster and Emergency Management (AFAD) and Turkish Red Crescent (Turk Kizilay), along with other Turkish NGOs, were working to help victims.

The Turkish ministerial delegation headed to Pakistan last Friday to express solidarity and support for the South Asian country.

Interior Minister Suleyman Soylu, Environment Minister Murat Kurum and the heads of the Turkish Disaster and Emergency Management (AFAD) and Turkish Housing Development Administration (TOKI) visited flood-hit regions, including the Badin district of Sindh.

“Türkiye fully mobilized (its resources) since the beginning of floods (in Pakistan),” said Sahin. “(The) Pain of Pakistan is pain of Türkiye! Pakistan is not alone.”

Turks, including professionals, businessmen and members of the Pakistani community in Türkiye pledged to donate to the campaign launched by the Pakistani Embassy, collecting aid in cash and kind for the victims.

Qazi said special prayers for victims last Friday in more than 90,000 mosques across Türkiye.

In less than one hour, the embassy’s official count of donations was more than 1 million Turkish liras, in addition to $30,000 by participants.

Global assistance to Pakistan to aid flood mitigation

Pakistan has received more than 50 humanitarian assistance flights from Türkiye, the United Arab Emirates, China, Qatar, Uzbekistan, France, Turkmenistan, Jordan, UNHCR, UNICEF and the World Food Program.

The UN and the Pakistani government issued a flash appeal Aug. 30 for $160 million to cope with the devastation caused by unprecedented rains and flooding.

The death toll reached 1,355 after 12 people were killed in the past 24 hours, while 12,722 people have been injured in rain and flood-related incidents across the country since mid-June.

More than 33 million of the country’s 220 million people have been affected by the floods, causing a staggering loss of $10 billion in damages to an already weakened infrastructure.

Almost 45% of the cropland has already been inundated by floods, posing a serious threat to food security and adding to already skyrocketing inflation.

Hundreds of thousands of displaced residents are also dealing with outbreaks of waterborne, skin and eye diseases, with health experts warning of a higher number of deaths from diarrhea, typhoid, malaria, dengue, gastrointestinal and other infections than from rains and floods.

The head of the UN will arrive Friday for a two-day visit to Pakistan to show solidarity.

Antonio Guterres will meet Pakistani leadership and senior officials to exchange views on the national and global response to the catastrophe caused by climate change.

He will also visit flood-hit areas and interact with displaced families and oversee the UN’s humanitarian response work in support of the government’s rescue and relief efforts for millions of affected Pakistanis.

Source: Anadolu Agency

In a likely nod to the iconic character of Britain’s longest-serving monarch, the plan for what happens when Queen Elizabeth II dies is called Operation London Bridge.

The operation is a 10-day plan. The day of the queen’s death is D-Day, and every day after is D-Day+1, and so on.

On D-Day, a newsflash was sent around the world, and flags across the government were lowered to half-staff. Official notification was pinned to the gates of Buckingham Palace, the queen’s residence and the monarchy’s administrative headquarters. Parliament and all devolved legislatures were also adjourned.

The funeral will take place 10 days after the queen’s death. The prime minister will meet with Queen Elizabeth’s eldest son and successor, Charles III.

10-day plan

On D-Day+1, King Charles III will be proclaimed the new king and meet with the prime minister and Cabinet. Parliament will agree on a message of condolences, and parliamentary business will be suspended for 10 days.

On D-Day+2, the queen, who is currently in Balmoral Castle, Scotland, will have her coffin transported to Buckingham Palace in London.

On D-Day+3, King Charles will begin a mourning tour of the UK, starting in Scotland, to receive condolences.

On D-Day+4, Charles will continue his mourning tour of the UK, and receive condolences in Northern Ireland.

On D-Day+5, the queen’s coffin will be transported from Buckingham Palace to the Palace of Westminster along a ceremonial route through London. A memorial service will then be held in Westminster Hall.

On D-Day+6, the queen will lie in state at the Palace of Westminster for three days, and be open for viewing to the public 23 hours a day.

On D-Day+7, King Charles will continue his mourning tour of the UK, and receive condolences in Wales.

On D-Day+8 and +9, the queen’s coffin will continue to lie in the state for the public to pay their respects.

On D-Day+10, a day of national mourning will be proclaimed, and the state funeral will take place at Westminster Abbey. Two minutes of silence will take place at midday. The queen will be laid to rest at Windsor Castle, next to her father in the King George VI Memorial Chapel.

Source: Anadolu Agency

The death toll from Pakistan’s catastrophic floods has risen to nearly 1,400, with 36 new casualties, including 15 children, reported in the last 24 hours, official statistics showed on Friday.

The country’s National Disaster Management Authority (NDMA) confirmed 35 new fatalities in southern Sindh province, while one person died in flood-related mishaps in northwestern Khyber Pakhtunkhwa provinces, bringing the total to 1,391.

According to the NDMA’s data, 577 people have died in Sindh since June 14, followed by 293 in Khyber Pakhtunkhwa and 263 in Balochistan.

It added that 191 people have died in the northeastern Punjab province, 22 in Gilgit Baltistan, one in Islamabad, and 44 in Pakistan-administered Kashmir.

Since June 14, a total of 12,722 people have been injured in the rain and flood-related incidents across the country.

Monsoon season in Pakistan, like in other countries in the region, usually results in heavy rains, but this year has been the wettest since 1961.

Currently, one-third of the country is underwater as the massive rains and melting glaciers have caused the country’s main Indus River to overflow, inundating vast swaths of plains, and farms.

Destructive rains and floods have also washed away hundreds of thousands of houses, bridges, roads and buildings across the South Asian nuclear country, which is already grappling with political and economic turmoil.

So far, over 1.73 million houses damaged including 565,878 completely destroyed while 754,708 livestock perished.

Over 33 million of the country’s approximately 220 million population have been affected by the raging floods, causing a staggering loss of $10 billion in damages to an already weakened infrastructure.

Almost 45% of the country’s cropland has already been inundated by the floods, posing a serious threat to food security and further adding to the already skyrocketing inflation.

Hundreds of thousands of displaced people are also dealing with outbreaks of waterborne, skin and eye diseases, with health experts warning of a higher number of deaths from diarrhea, gastrointestinal, typhoid, malaria dengue, and other infections than from rains and floods.

UN chief arrives

On Thursday night, UN Secretary-General Antonio Guterres landed in Islamabad for a two-day visit to express solidarity with the South Asian country.

He was received at Islamabad International Airport by State Minister for Foreign Affairs Hina Rabbani Khar.

“I have arrived in Pakistan to express my deep solidarity with the Pakistani people after the devastating floods here. I appeal for massive support from the international community as Pakistan responds to this climate catastrophe,” the UN chief tweeted after his arrival.

During his stay, he will meet with Pakistani leadership and senior officials to exchange views on the national and global response to the catastrophe caused by climate change, according to the Foreign Ministry.

He will also visit the flood-hit areas and interact with displaced families and oversee the UN’s humanitarian response work in support of the government’s rescue and relief efforts for millions of affected people.

Source: Anadolu Agency

The Ukrainian army on Thursday liberated the town of Balakliya in the southeastern Kharkiv region, according to the government.

A video posted by Ukrainian President Volodymyr Zelenskyy on social media shows the Ukrainian flag waving and three Ukrainian soldiers on the roof of a building in what is said to be Balakliya.

“Mr. President, Commander-in-Chief, Balakliya has been taken under control, the instruction has been carried out,” said one of the soldiers in the video.

“Everything is in its place. The flag of Ukraine is in a free Ukrainian town under free Ukrainian sky! Thank you! I am proud of you! Take care! To victory! Glory to Ukraine!” Zelenskyy said in his message shared with the video.

The Ukrainian army announced on Thursday that over 20 settlements in the Kharkiv region had liberated from Russian forces amid the ongoing war, which Russia launched on Feb. 24.

* Writing by Seda Sevencan

Source: Anadolu Agency