5 Minutes Read

Unsold aluminium piling up at sanctions-hit Rusal factory

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Russian aluminium giant Rusal is stockpiling large quantities of aluminium at one of its plants in Siberia because US sanctions imposed this month have prevented it from selling the metal to customers, four sources close to the company said. With the firm’s own storage space filling up with unsold aluminium, Rusal executives in Sayanogorsk, in …

Russian aluminium giant Rusal is stockpiling large quantities of aluminium at one of its plants in Siberia because US sanctions imposed this month have prevented it from selling the metal to customers, four sources close to the company said.

With the firm’s own storage space filling up with unsold aluminium, Rusal executives in Sayanogorsk, in southern Siberia, have had to rent out additional space to accommodate the surplus stock, one of the sources told Reuters.

“Aluminium sales have broken down. And now the surplus aluminium is being warehoused in production areas of the factory itself,” said someone who works on the grounds of one of Rusal’s two plants in Sayanogorsk.

Several people connected to Rusal said that Oleg Deripaska, the company’s main shareholder who along with the company was included on a US sanctions blacklist, visited Sayanogorsk this week for a closed-door meeting with staff.

Asked if the firm was stockpiling aluminium in Sayanogorsk, a Rusal spokeswoman declined to comment.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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 5 Minutes Read

US to hit Russia with new sanctions for aiding Syria’s Assad

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Haley made clear the United States won’t be pulling troops out of Syria right away.

President Donald Trump on Sunday defended his use of the phrase “Mission Accomplished” to describe a U.S.-led missile attack on Syria’s chemical weapons program, even as his aides stressed continuing U.S. troop involvement and plans for new economic sanctions against Russia for enabling the government of Bashar Assad.

Stepping up the pressure on Syria’s president, U.S. Ambassador Nikki Haley indicated the sanctions to be announced Monday would be aimed at sending a message to Russia, which she said has blocked six attempts by the U.N. Security Council to make it easier to investigate the use of chemical weapons.

“Everyone is going to feel it at this point,” Haley said, warning of consequences for Assad’s foreign allies.

“The international community will not allow chemical weapons to come back into our everyday life,” she said. “The fact he was making this more normal and that Russia was covering this up, all that has got to stop.”

Trump tweeted Sunday that the strike was “perfectly carried out” and that “the only way the Fake News Media could demean was by my use of the term “Mission Accomplished.”” He added that he knew the media would “seize” on the phrase, but said it should be used often. “It is such a great Military term, it should be brought back,” he wrote.

Trump tweeted “Mission Accomplished” on Saturday after U.S., French and British warplanes and ships launched more than 100 missiles nearly unopposed by Syrian air defenses. While he declared success, the Pentagon said the pummeling of three chemical-related facilities left enough others intact to enable the Assad government to use banned weapons against civilians if it chooses.

His choice of words recalled a similar claim associated with President George W. Bush following the U.S.-led invasion of Iraq. Bush addressed sailors aboard a Navy ship in May 2003 alongside a “Mission Accomplished” banner, just weeks before it became apparent that Iraqis had organized an insurgency that would tie down U.S. forces for years.

Later Sunday, Trump sent a letter to congressional leaders informing them in writing of his decision to order the strike. Under the War Powers Resolution, the president must keep Congress informed of such actions.

Haley made clear the United States won’t be pulling troops out of Syria right away, saying U.S. involvement there “is not done.”

Haley said the three U.S. goals for accomplishing its mission are making sure chemical weapons are not used in a way that could harm U.S. national interests, defeating the Islamic State group and having a good vantage point to watch what Iran is doing.

“We’re not going to leave until we know we’ve accomplished those things,” she said.

Haley said the joint military strike “put a heavy blow into their chemical weapons program, setting them back years” and reiterated that if Assad uses poison gas again, “the United States is locked and loaded.”

French President Emmanuel Macron said Sunday that France wants to launch a diplomatic initiative over Syria that would include Western powers, Russia and Turkey. Speaking on French television BFM and online site Mediapart, Macron stressed that the French diplomacy is able to talk with Iran, Russia and Turkey on one side and to the United States on the other side.

He said, “Ten days ago, President Trump wanted to withdraw from Syria. We convinced him to remain.”

The nighttime assault on Syria was carefully limited to minimize civilian casualties and avoid direct conflict with Russia, but confusion arose over the extent to which Washington warned Moscow in advance. The Pentagon said it gave no explicit warning. The U.S. ambassador in Moscow, John Huntsman, said in a video, “Before we took action, the United States communicated with” Russia to “reduce the danger of any Russian or civilian casualties.”

Russia has military forces, including air defenses, in several areas of Syria to support Assad in his long war against anti-government rebels.

Russia and Iran called the use of force by the United States and its French and British allies a “military crime” and “act of aggression.” The U.N. Security Council rejected a Russian resolution calling for condemnation of the “aggression” by the three Western allies.

Assad denies he has used chemical weapons, and the Trump administration has yet to present hard evidence of what it says precipitated the allied missiles attack: a chlorine gas attack on civilians in Douma on April 7. The U.S. says it suspects that sarin gas also was used.

“Good souls will not be humiliated,” Assad tweeted while hundreds of Syrians gathered in Damascus, the capital, where they flashed victory signs and waved flags in scenes of defiance after the early morning barrage.

The strikes “successfully hit every target,” said Dana W. White, the chief Pentagon spokeswoman. The military said there were three targets: the Barzah chemical weapons research and development site in the Damascus area, a chemical weapons storage facility near Homs and a chemical weapons “bunker” a few miles from the second target.

Although officials said the singular target was Assad’s chemical weapons capability, his air force, including helicopters he allegedly has used to drop chemical weapons on civilians, were spared. In a U.S. military action a year ago in response to a sarin gas attack, missiles took out nearly 20 percent of the Syrian air force, the Pentagon said.

The U.S.-led operation won broad Western support. The NATO alliance gave its full backing; NATO Secretary-General Jens Stoltenberg said the attack was about ensuring that chemical weapons cannot be used with impunity.

In his televised address from the White House on Friday, Trump said the U.S. was prepared to keep up the economic, diplomatic and military pressure on Assad until he ends a pattern of killing his own people with internationally banned chemical weapons.

That did not mean military strikes would continue. In fact, Gen. Joseph Dunford, chairman of the Joint Chiefs of Staff, said no additional attacks were planned.

Asked about Trump’s “Mission Accomplished” assertion, White said it pointed to the successful targeting of the three Syrian chemical weapons sites. What happens next, she said, is up to Assad and to his Russian and Iranian allies.

Haley appeared on “Fox News Sunday” and CBS’ “Face the Nation.”

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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US sanctions close Putin allies for meddling in 2016 Presidential election

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The sanctions largely respond to what U.S. intelligence agencies have said was Russian interference in the presidential election

The United States imposed major sanctions on Friday against 24 Russians, striking at allies of President Vladimir Putin in one of Washington’s most aggressive moves to punish Moscow for its alleged meddling in the 2016 U.S. election and other “malign activity.”

The action, taken under pressure from the U.S. Congress, freezes the U.S. assets of oligarchs such as aluminium tycoon Oleg Deripaska, a close associate of Putin, and lawmaker Suleiman Kerimov, whose family controls Russia’s largest gold producer, Polyus.

The sanctions largely respond to what U.S. intelligence agencies have said was Russian interference in the presidential election, although the Treasury Department painted them as a response to a series of adversarial actions by Moscow.

U.S. President Donald Trump has been under fire for not taking strong action against Russia after a series of diplomatic disputes reminiscent of the Cold War era. The sanctions could complicate his hopes for good relations with Putin.

Relations already had worsened recently as the United States expelled Russian diplomats over a poisoning case in Britain and imposed sanctions on Russians for alleged links to cyber attacks.

The latest move is aimed at seven Russian oligarchs and 12 companies they own or control, plus 17 senior Russian government officials. They freeze the U.S. assets of the people and companies named and forbid Americans in general from doing business with them.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
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Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?