united states – Island Crisis http://islandcrisis.net/ Mon, 21 Mar 2022 00:12:10 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://islandcrisis.net/wp-content/uploads/2021/04/default1-150x150.png united states – Island Crisis http://islandcrisis.net/ 32 32 Koch Industries, Nestlé, Renault – Here are the companies under fire from Russian links https://islandcrisis.net/koch-industries-nestle-renault-here-are-the-companies-under-fire-from-russian-links/ Sun, 20 Mar 2022 18:13:12 +0000 https://islandcrisis.net/koch-industries-nestle-renault-here-are-the-companies-under-fire-from-russian-links/ Topline Ukrainian President Volodymyr Zelensky criticized Nestlé on Saturday for not taking enough action to punish Russia for its invasion of Ukraine, and Nestlé heads a small but mighty list of multinational companies that maintain business operations Russians. French automaker Renault is one of the big multinationals that have remained loyal to its business … […]]]>

Topline

Ukrainian President Volodymyr Zelensky criticized Nestlé on Saturday for not taking enough action to punish Russia for its invasion of Ukraine, and Nestlé heads a small but mighty list of multinational companies that maintain business operations Russians.

Highlights

Zelensky critical Swiss food giant Nestle for continuing to sell goods in Russia in a video address at a rally in Switzerland, saying, “Business works in Russia even if our children die and our cities are destroyed”, although Nestlé, whose Russian operations account for 2% of total sales, maintains that it only sells essential products and has suspended all advertising and capital investment in the country.

Koch Industriesthe American conglomerate that ranks as the second largest private company in the United States according to Forbes‘ estimates thanks to annual revenue of $ 115 billion, blocked by its subsidiary Guardian Industries which continues to operate its two glass factories in Russia on Wednesday, and Koch chief operating officer Dave Robertson, explained in a declaration the company does not want to abandon its employees in the country “or hand over these manufacturing facilities to the Russian government so that it can operate and benefit from them”.

In addition to Koch Industries, at least 36 other companies have refused to reduce their business activities in Russia, according to a widely cited source. listing compiled by Jeffrey Sonnenfeld, a professor at Yale University, which identifies 350 companies as withdrawing from Russia or suspending their activities there.

Swiss creditthe second largest bank in Switzerland, is one of the big companies that has not withdrawn from Russia: its managing director Thomas Gottstein noted On Tuesday, the company “reviews” its commercial relations with Russia, but the company $1.1 billion in exposure to Russia through loans and subsidiaries makes a withdrawal from the bank highly unlikely.

French car manufacturer Renault hasn’t announced any changes to its business in Russia either, and its reliance on the country presents significant challenges: the company has about 40,000 employees in Russia and accounts for about a third of the Russian automotive market, according to to Reuters, and Renault shares have fallen more than 30% since Russia began its war against Ukraine.

British pharmaceutical giant Astra Zeneca East Continue new drug trials in Russia, after rivals Pfizer and GlaxoSmithKline said this week they would not start new clinical trials in the country.

Contra

Several notable companies have announced changes to their business dealings with Russia after drawing attention last week for failing to do so as hundreds of other companies announced changes to their operations in the country. Citigroup announcement On Monday, he will “expand the scope” of his exit from Russia beyond his previously announced exit from consumer banking in the country. Tire manufacturers Bridgestone and Pirelli have been slow to announce any changes to their Russian operations, but both announcement the suspension of manufacturing in the country this week.

Surprising fact

Zelensky had avoided naming individual companies for their business dealings with Russia until last Sunday, when he called on tech giants Microsoft, Oracle and SAP to further cut their operations in Russia. In his Saturday speech, Zelensky called on Swiss banks to step up their actions against Russia, saying, “The money of the people who started this war is in your banks. Help fight this,” although Zelensky did not specifically name Credit Suisse or other banks. Switzerland announcement last month it will freeze the assets of people sanctioned by the European Union, but the Swiss Bankers Association estimates Swiss banks hold up to $215 billion worth of Russian money in offshore accounts.

Further reading

Multinationals continue to sell to Russia under increasing pressure to take stronger measures (Forbes)

Verizon, Pfizer, Deutsche Bank—Here are the companies cutting ties with Russia following the invasion of Ukraine (Forbes)

Zelensky Urges Companies—Microsoft, SAP, and Oracle—To Punish Russia More (Forbes)

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Bladex Announces Successful Closing of New 3-Year Global Syndicated Loan https://islandcrisis.net/bladex-announces-successful-closing-of-new-3-year-global-syndicated-loan/ Fri, 18 Mar 2022 11:00:00 +0000 https://islandcrisis.net/bladex-announces-successful-closing-of-new-3-year-global-syndicated-loan/ PANAMA CITY, March 18, 2022 /PRNewswire/ — Banco Latinoamericano de Comercio Exterior, SA (“Bladex”, or “the Bank”, NYSE: BLX) today announced the closing of a $300 million three-year global syndicated loan. Sumitomo Mitsui Banking Corporation (SMBC) and Wells Fargo Bank, NA acted as Joint Lead Arrangers and Book-runners. The list of arrangers and participants included […]]]>

PANAMA CITY, March 18, 2022 /PRNewswire/ — Banco Latinoamericano de Comercio Exterior, SA (“Bladex”, or “the Bank”, NYSE: BLX) today announced the closing of a $300 million three-year global syndicated loan. Sumitomo Mitsui Banking Corporation (SMBC) and Wells Fargo Bank, NA acted as Joint Lead Arrangers and Book-runners. The list of arrangers and participants included financial institutions from Japan, Taiwan, South Korea, The United States of Americathe UK, Austria, Colombia, Indiaand China.

Sir. Eduardo VivoneExecutive Vice President, Treasury and Capital Markets of Bladex, said, “We are very pleased to announce the largest syndicated facility ever entered into by Bladex. This transaction further strengthens Bladex’s broadly diversified funding base and is a clear demonstration of our Bank’s strong franchise in the global financial markets.”

Sir. Jorge SalasBladex Chairman and CEO added, “We are very pleased with the success of this facility, which met very strong investor demand in a volatile market environment. Bladex will deploy these funds to continue to drive trade and growth in our member countries. We would like to congratulate Wells Fargo and SMBC on the success of this new syndicated loan and express our gratitude to all participating banks for their invaluable support to Bladex and the Latin America and Caribbean region. »

Bladex, a multinational bank originally created by the central banks of Latin America and Caribbean country, began operations in 1979 to promote foreign trade financing and economic integration in the region. The Bank, whose head office is in Panamaalso has offices in Argentina, Brazil, Colombia, Mexico, The United States of Americaand a representative’s license in Perusupporting regional expansion and serving its customer base, which includes financial institutions and corporations.

Bladex is listed on the NYSE in The United States of America (NYSE: BLX), since 1992, and its shareholders include: central banks, public banks and entities representing 23 countries in Latin America and Caribbean countries, commercial banks and institutional and retail investors through its public listing.

For more information, please access the Bladex website on the Internet at www.bladex.com or contact:

Ms. Annette de Solís, Senior Vice President – Treasury and Capital Markets
Phone. : (507) 210-8560, Email: [email protected]
Bladex, head office, Torre V, business park, Avenue La Rotonde, Urb. East Coast,
PanamaRepublic of Panama

SOURCE Banco Latinoamericano de Comercio Exterior, SA (Bladex)

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Ukrainian leader Zelenskyy must face Congress and ask for help https://islandcrisis.net/ukrainian-leader-zelenskyy-must-face-congress-and-ask-for-help/ Wed, 16 Mar 2022 10:19:00 +0000 https://islandcrisis.net/ukrainian-leader-zelenskyy-must-face-congress-and-ask-for-help/ WASHINGTON (AP) — Ukrainian President Volodymyr Zelenskyy will address the U.S. Congress, the actor-turned-warlord’s latest video speech as he uses the West’s major legislative bodies as a global stage to orchestrate support against the crushing invasion of Russia. Zelenskyy’s live-streamed speech Wednesday from the United States Capitol will be among the most important in a […]]]>

WASHINGTON (AP) — Ukrainian President Volodymyr Zelenskyy will address the U.S. Congress, the actor-turned-warlord’s latest video speech as he uses the West’s major legislative bodies as a global stage to orchestrate support against the crushing invasion of Russia.

Zelenskyy’s live-streamed speech Wednesday from the United States Capitol will be among the most important in a unique and very public strategy in which he invoked Winston Churchill, Hamlet and the power of world opinion in his fight to stop the Russia.

As three weeks of an ever-escalating war approach, Zelenskyy has used his campaign to implore Allied leaders to “shut up the skies” to prevent Russian airstrikes devastating his country. It’s a singular request and now a rallying cry in popular culture. It also put Zelenskyy at odds with President Joe Biden, whose administration has refrained from providing a no-fly zone or the transfer of military planes from neighboring Poland as the United States seeks to avoid a direct confrontation with Russia.

Instead, Biden will deliver his own speech after Zelenskyy’s speech, in which he is expected to announce an additional $800 million in security aid to Ukraine, according to a White House official familiar with the matter. That would bring the total announced last week to $1 billion. It includes money for anti-armour and air defense weapons, according to the official, who was not authorized to comment and spoke on condition of anonymity.

Appearing in his now-iconic military green T-shirt as he appeals to world leaders, boyish but unshaven Zelenskyy has emerged as a heroic figure at the center of what many see as the greatest threat to the security of the Europe since World War II. Nearly 3 million refugees have fled Ukraine, the fastest exodus in modern times.

President Biden is now due to meet with NATO leaders in Brussels to discuss next steps in handling Russia’s deadly invasion of Ukraine. (CNN, CTV NETWORK)

Invoking Shakespeare’s hero last week, he asked the British House of Commons whether Ukraine should “be or not be”. On Tuesday, he called out “Dear Justin” as he addressed the Canadian Parliament and Prime Minister Justin Trudeau. Zelenskyy called on European Union leaders at the start of the war to do the politically unthinkable and fast-track Ukraine’s membership – and he continued to ask for more help to save his fledgling democracy than the leaders have so far committed to do.

“I know he will ask for more help,” said Sen. Elizabeth Warren, D-Mass.

Biden insisted there would be no US troops on the ground in Ukraine and resisted Zelenskyy’s incessant calls for warplanes as too risky, potentially escalating into a direct confrontation with armed Russia. ‘nuclear weapons.

“The direct conflict between NATO and Russia is World War III,” Biden said.

President Joe Biden explains his reluctance to use American planes and pilots in Ukraine. (Source: Pool/CNN)

US defense officials, for their part, say they are intrigued by Zelenskyy’s request for more fighter jets. They say Ukraine often does not fly the planes it currently has, while making good use of other Western-supplied weapons, including Stinger missiles to shoot down helicopters and other planes.

As officials predict Zelenskyy could again appeal to the United States and the West for fighter jets or to help establish a no-fly zone, the Biden administration is looking to send to Ukraine” more of what worked well,” according to an official who was not authorized to comment and spoke on condition of anonymity.

The Biden administration has already sent Ukraine more than 600 Stinger missiles, 2,600 Javelin anti-armour systems, unmanned aerial system tracking radars; grenade launchers, 200 shotguns, 200 machine guns and almost 40 million small arms cartridges, as well as helicopters, patrol boats, satellite imagery and body armor, helmets and other tactical equipment, the manager said.

Even though Zelenskyy and Biden speak to each other almost daily by phone, the Ukrainian president has found a potentially more receptive audience in Congress.

GRAPHIC WARNING: Some videos in this story contain disturbing content.

The Russian offensive is closer to the center of kyiv. (CNN, RUSSIA CHANEL 1, TELEGRAM, UNTV, RUSSIAN DEFENSE MINISTRY, HOST TV, OBTAINED BY RIA-MELITOPOL, TWITTER)

It will not be the first time he has appealed directly to members of the House and Senate, who have remained remarkably united in their support for Ukraine, with the feeling that they are committed to doing all that they can in the fight against Russia. . Nearly two weeks ago, Zelenskyy issued a desperate plea to some 300 lawmakers and staffers in a private call that if they couldn’t enforce a no-fly zone, at least send more planes .

“We believe the United States needs to do more,” said Sen. Roger Wicker, R-Miss., returning from a weekend visit with other lawmakers in Poland.

Congress has already approved $13.6 billion in military and humanitarian aid for Ukraine, and the recently announced security aid will come from that allocation, which is part of a larger bill Biden has enacted on Tuesday. But lawmakers expect more help will be needed.

House Speaker Nancy Pelosi said Zelenskyy asked for help to rebuild his country during their conversation last week.

It was during this call that Zelenskyy asked for the opportunity to address the US Congress, which the Democratic leader readily accepted.

“Congress, our country and the world stand in awe of the people of Ukraine,” Pelosi and Senate Majority Leader Chuck Schumer said Monday in a statement announcing the speech.

They said Congress “remains steadfast in its commitment to support Ukraine in the face of Putin’s cruel and diabolical aggression.”

Zelenskyy’s next stop could be Spain. The President of the Spanish Congress of Deputies invited the Ukrainian President to address Spanish lawmakers via video link.

In a letter to Zelenskyy, President Meritxell Batet wrote that the address “will be a wonderful opportunity for the chamber, all Spaniards and the thousands of Ukrainians living in Spain to listen to your message and express our strongest support closed”.

___

Associated Press writers Aamer Madhani, Ellen Knickmeyer and Chris Megerian and Raf Casert in Brussels, Jill Lawless in London, Aritz Parra in Madrid and videojournalist Rick Gentilo contributed to this report.

Copyright 2022 The Associated Press. All rights reserved.

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US Should Link Eastern Mediterranean Gas to Europe to Subvert Russia https://islandcrisis.net/us-should-link-eastern-mediterranean-gas-to-europe-to-subvert-russia/ Tue, 15 Mar 2022 16:00:06 +0000 https://islandcrisis.net/us-should-link-eastern-mediterranean-gas-to-europe-to-subvert-russia/ The Biden administration should suspend its hyper-focus on renewable energy and support efforts to prevent Russian energy blackmail against our European allies. The European Union (EU) has said it will cut its dependence on Russian gas by two-thirds. If the United States is serious about energy security in Europe, it must help ensure that natural […]]]>

The Biden administration should suspend its hyper-focus on renewable energy and support efforts to prevent Russian energy blackmail against our European allies. The European Union (EU) has said it will cut its dependence on Russian gas by two-thirds. If the United States is serious about energy security in Europe, it must help ensure that natural gas from the Eastern Mediterranean reaches European shores.

At the end of January, President BidenJoe BidenSaudi Arabia invites Chinese Xi to visit Riyadh: Report Biden attends in-person DNC fundraiser to tout climate agenda Man charged with attempted murder and hate crimes after Asian woman of New York was struck 125 times MORE took the opposite route, surprising Greece, Israel and Cyprus – the regional entities of the US-sponsored “3+1” cooperation framework – by withdrawing their support for the EastMed pipeline, a multi-billion dollar unfunded concept designed in 2016 that would have brought gas from the Eastern Mediterranean to Europe via an underground gas pipeline. Biden cited concerns over climate change and economic viability, two arguably reasonable positions at the time. However, given Russia’s war in Ukraine and its downstream effects, Biden needs to be flexible and adapt his natural gas policy.

Eastern Mediterranean gas could diversify Europe’s energy portfolio. Israel alone has about 2.2 trillion cubic meters of gas awaiting discovery. While it would not meet all of Europe’s needs, it would help offset Russian gas imports. NATO countries such as Germany, Italy and Turkey could benefit from new suppliers, especially as German Chancellor Olaf Scholz halted the Nord Stream 2 gas pipeline project which would have increased the country’s dependence on Russian gas. Like Germany, Italy is looking for alternative sources.

Turkish President Recep Tayyip Erdoğan, who met with Israeli leaders last week, said Turkey was open to exploring gas pipeline possibilities with Israel that could integrate with the European gas pipeline network. Of course, any collaboration with Turkey must be based on Erdogan fulfilling certain conditions given his history of antagonism against his allies in the eastern Mediterranean and his overbroad interpretation of maritime borders and exclusive economic zones.

While most of the debates about gas from the Eastern Mediterranean and Europe focus on gas pipelines, Liquefied Natural Gas (LNG) also presents options for bringing gas from the Eastern Mediterranean to Europe by sea and earthly. Currently, a relatively small amount of Israeli gas is channeled to Europe via LNG facilities in Egypt, host of the Eastern Mediterranean Gas Forum (EMGF). The United States should emphasize support for the EMGF, as it should for the 3+1, by building Israel’s LNG capacity so that it can be a real player in the European market; supporting Egypt’s LNG potential; and encouraging new investments from the United Arab Emirates (UAE) and Qatar in LNG so that European destinations can be reached and infrastructure is sufficient to meet demand.

There are political and financial risks to all of this. Many of these states have frosty relations, if any at all. Record gasoline prices and market volatility are the new normal. Moreover, none of these proposals would take effect for years, while renewable energy could potentially render them all but obsolete. Given this, many reasonable analysts have concluded that Eastern Mediterranean natural gas will remain regional.

But the emergency we face in Ukraine will affect global energy markets and international business for years to come. US policy can adapt to medium-term needs, supporting access to natural gas from the eastern Mediterranean, and still seek short-term solutions such as working with Qatar and Azerbaijan – while keeping a eye on long-term climate change goals such as phasing out fossil fuels. fuels. As for the feasibility issues, last week Chevron CEO Michael Wirth came out in favor of the EastMed pipeline due to the current crisis.

Linking Eastern Mediterranean gas to Europe could have a profound psychological effect on the Russian president Vladimir PoutineVladimir Vladimirovich PutinInternational Criminal Court to rule on genocide allegations against Russia Defense and national security overnight – Presented by AM General – US fears China will help Russia Lawmakers pressure on Biden reaches its limits MORE. This would undermine Russia as a player in the region’s energy market and militarily. Putin is using the Russian base in Tartous, Syria, and its intimate relationship with Bashar al-Assad’s regime as leverage to exploit offshore energy opportunities and the power of the project. Russia also supplies Greece with a significant amount of its natural gas.

US investments aimed at integrating the economies of the Eastern Mediterranean and Europe through the sale of natural gas would strengthen Western relations with the states bordering the Eastern Mediterranean and reduce Russia’s ability to find financial partnerships beyond. of Syria. This may have been the thinking of the EU when it recently funded an initiative to connect the power grids of Israel, Greece and Cyprus to that of Europe.

The eastern Mediterranean is a flashpoint for great power competition – and potential friction – as major NATO and non-NATO allies ramp up joint military drills and drills to protect their offshore assets and waters territories from foreign threats. The United States does not project much military power in the eastern Mediterranean, despite its geopolitical importance and proximity to vital waterways such as the Suez Canal. As the United States retreats from the region, it must leave in place a regional security architecture that provides stability, respect for the rule of law, and deterrence to nefarious actors like Putin. Sponsoring energy ties with Europe would signal to Putin that the United States (and indirectly NATO) remains committed to its Eastern Mediterranean allies, who will certainly step up military cooperation as the stakes rise.

As stated in the bipartisan Eastern Mediterranean Security and Energy Partnership Act of 2019: “Natural gas developments in the Eastern Mediterranean have the potential to generate economic gains and contribute to energy security in the region and in Europe, as well as supporting European diversification efforts. natural gas supplied by the Russian Federation. As the war in Ukraine rages on, natural gas prices in Europe have hit record highs.

Climate change goals are important and renewables may be the future, but we need to recalibrate our focus in these perilous times. Biden should reverse his rejection of the EastMed pipeline and have the United States take a leadership position in crafting a plan to get much-needed Eastern Mediterranean gas to the European market.

Nicholas Saidel is associate director of the Institute for Strategic Threat Analysis and Response at the University of Pennsylvania. He was previously a Fellow of the Center for Ethics and the Rule of Law at Penn Law School; a partner at the law firm Wolf, Block LLP; a legislative aide to Rep. Robert A. Brady (D-Pa.); and Fellow of the Foreign Policy Research Institute.

Godfrey Garner is professor of counterterrorism at Mississippi College and adjunct professor at Tulane University and Belhaven University. He completed two tours in Vietnam and two tours in Afghanistan with the 20th Special Forces Group. He is co-author of the manual “Origins of Terrorism: The Rise of the World’s Most Formidable Terrorist Groups”.

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Uber is charging customers new fuel fees for rides and delivery https://islandcrisis.net/uber-is-charging-customers-new-fuel-fees-for-rides-and-delivery/ Sat, 12 Mar 2022 23:10:00 +0000 https://islandcrisis.net/uber-is-charging-customers-new-fuel-fees-for-rides-and-delivery/ (AP) – Citing record gas prices, Uber is charging customers a new fuel levy to help offset the costs of delivery and delivery drivers. The temporary surcharge will be 45 cents or 55 cents for each Uber trip and 35 cents or 45 cents for each Uber Eats order, depending on location, the company said […]]]>

(AP) – Citing record gas prices, Uber is charging customers a new fuel levy to help offset the costs of delivery and delivery drivers.

The temporary surcharge will be 45 cents or 55 cents for each Uber trip and 35 cents or 45 cents for each Uber Eats order, depending on location, the company said Friday.

It will come into effect on Wednesday. All the money will go directly to drivers, San Francisco-based Uber said. The surcharge will be in effect for at least 60 days, after which Uber said it will assess the situation.

The surcharges are based on the average trip distance and the increase in gas prices in each state, Uber said.

As Russia’s war in Ukraine escalated, US gas prices soared to record highs. The average price of gasoline in the United States hit a record $4.17 a gallon this week as President Joe Biden banned imports of Russian oil, gas and coal in retaliation for the US invasion. ‘Ukraine.

The amount of U.S. gasoline in storage fell last week as demand begins to pick up as summer approaches. The increase in gas demand and the downward trend in stocks are also contributing to the rise in prices at the pump.

A spokesperson for Uber rival Lyft did not immediately respond to a question on Saturday whether it was considering a similar move.

Copyright 2022 The Associated Press. All rights reserved.

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The world’s most import-dependent economy – 24/7 Wall St. https://islandcrisis.net/the-worlds-most-import-dependent-economy-24-7-wall-st/ Sat, 12 Mar 2022 13:00:13 +0000 https://islandcrisis.net/the-worlds-most-import-dependent-economy-24-7-wall-st/ Trade routes around the world have become more complex. Sanctions against Russia due to its invasion of Ukraine immediately affected the movement of oil, semiconductors and, to some extent, silver. Russian oil exports have slowed considerably. Its ability to import goods from most Western economies has declined sharply. The effect on energy prices, especially in […]]]>

Trade routes around the world have become more complex. Sanctions against Russia due to its invasion of Ukraine immediately affected the movement of oil, semiconductors and, to some extent, silver. Russian oil exports have slowed considerably. Its ability to import goods from most Western economies has declined sharply. The effect on energy prices, especially in Europe, has already begun.

Even huge economies like the United States depend on imports, despite the country’s ability to build everything from cars to commercial planes. America relies on electronic components for a long list of consumer and commercial technologies. Some food products not grown in the United States are also imported. The global economy is hugely dependent on trade, and the most import-dependent country in the world is Hong Kong.

The COVID-19 pandemic has affected the world in many ways, including global trade. Many countries whose economies have suffered the most during the pandemic rely heavily on international trade. Some are low-income countries like Somalia, while others may be geographically small but have some of the highest per capita incomes in the world, like Luxembourg. (Somalia ranks among the poorest countries in the world.)

To find the most trade-dependent economy in the world, 24/7 Wall St. ranked countries by imports as a percentage of gross domestic product, using data from the world Bank. Additional data also comes from the World Bank for the most recent year available and in current US dollars. Exports and imports of goods and services include goods, freight services, communication services, banking services, insurance, royalties, license fees, but exclude factor services, such as the cost of compensation of employees, investment income or international money transfers.

Small countries lacking natural and human resources tend to be more dependent on trade due to the limitations of their size. Large countries may depend on trade due to their stage of economic development as they work towards industrialization and diversification. Dependence on trade makes these economies more vulnerable to downturns in global trade.

Hong Kong’s imports are valued at $606 billion, or 175% of its nearly $347 billion GDP. The Special Administrative Region of China also exports about as much, with total trade accounting for more than 351% of its GDP. This means that while the country has the 35th largest economy by GDP, it has the second highest total trade value at $1.2 trillion. Part of the trade in Hong Kong consists of transhipments or goods passing through the country. (Find out if Hong Kong is among the 25 richest countries in the world.)

Click here to see the most import-dependent economies in the world

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Tanker Owners Avoid Russian Oil Cargo https://islandcrisis.net/tanker-owners-avoid-russian-oil-cargo/ Sat, 12 Mar 2022 06:50:54 +0000 https://islandcrisis.net/tanker-owners-avoid-russian-oil-cargo/ Daily freight rates for mid-size Aframax tankers, the workhorses of crude oil in the Black and Baltic Seas, have jumped to around $30,000 from around $10,000 before the invasion, according to freight brokers and tanker owners. Such increases are not unusual during the war. A small number of tankers continue to service Russian ports, and […]]]>

Daily freight rates for mid-size Aframax tankers, the workhorses of crude oil in the Black and Baltic Seas, have jumped to around $30,000 from around $10,000 before the invasion, according to freight brokers and tanker owners. Such increases are not unusual during the war.

A small number of tankers continue to service Russian ports, and owners willing to take the risk of navigating the Black Sea conflict zone can fetch more than $200,000 a day, according to brokers and owners. But most are not.

“Due to the complexity, we will stay away from Russia,” said Lars Barstad, managing director of Norwegian company Frontline Management A/S, one of the world’s largest tanker owners, operating 74 vessels. . “There’s a lot of money to be made, and it’s still legal, but very difficult to do in a good way.”

At least a dozen tankers carrying Russian crude have been temporarily seized or delayed at European ports by customs authorities over the past week, according to brokers and owners. Vessel delays increase the cost of transporting crude, as vessels stay in the water longer. The conflict in Ukraine helped lift crude futures last month above $100 a barrel for the first time since 2014.

“They will be holding your vessel to see if it has any connection to blacklisted Russian companies,” said a Greece-based tanker owner, one of whose vessels was delayed in the UK. “It’s not worth it”.

Russia is the world’s second largest oil exporter behind Saudi Arabia. Dozens of tankers operate daily at terminals like Novorossiysk, Russia’s largest Black Sea port, Taman Kavkaz in the Kerch Strait and Primorsk, north of St. Petersburg in the Baltic Sea.

But shipping traffic near Russian ports has shrunk by about half, brokers say. Maritime data provider Windward said the number of Russian-owned vessels that are on the market and available for charter this week was triple that of Feb. 28.

The drop in maritime traffic comes amid an exodus of Western multinationals from Russia, including big oil companies like Shell PLC and BP PLC. The United States on Tuesday banned Russian oil shipments, while the European Union said it plans to cut oil and gas imports from Russia by two-thirds by the end of the year. .

The oil giants charter hundreds of tankers from owners such as Frontline to transport oil around the world. Barstad said he expects tanker prices to stay high or rise as oil importers have fewer options to buy crude and as the market adjusts to replace some 2.5 million barrels per day of Russian oil transported by sea.

The renunciation of Russian ports and vessels has led to increased traffic and costs elsewhere in Europe. Ports in Cyprus, Bulgaria, Latvia and Finland are experiencing an increase in congestion of up to 80%, according to Windward. In one case, international commodity trader Trafigura Group Pte. agreed to charter an Aframax tanker for $27,500 a day, 71% more than a similar-sized vessel it had leased a month earlier, according to data from shipbroker Braemar. Trafigura declined to comment.

Not all carriers choose to pick up Russian cargo. Major Chinese state-owned operators like China Merchants Energy Shipping and Cosco Shipping Energy Transportation continue to transport crude from Russia on their ships or on chartered tankers, people involved in the matter said. “Russian oil is still legal and someone has to move it to keep the market relatively stable,” a senior Cosco official said. “If other sources open up, we will look into them.”

Tankers carrying Russian fuels are also finding other ways to deliver their products. Liquefied natural gas shipments that were barred from entering the UK were unloaded in the Netherlands and Belgium, according to Kpler, a commodity intelligence provider. The company said two supertankers that had loaded Russian crude via ship-to-ship transfers off Denmark were en route to Chinese ports and expected to arrive in late March.

“Oil flows are like a river and when you cut one off – Russian oil – it will flow elsewhere to reach its destination,” Barstad said. “When a refiner seeks a new source of oil, there are inefficiencies in the movement, ships sail longer, which increases the cost at the pump and brings in more money for tanker owners.”

Tanker owners, seeking to replace Russian crude, are waiting for governments to remove restrictions on shipping products from Iran and Venezuela. But any deal with Iran, which produces about 2.4 million barrels of oil a day, will be part of a new nuclear deal, currently being negotiated between US and Iranian officials. Venezuela, which is also under Western sanctions, used to produce around three million barrels a day, now pumps around 700,000 barrels a day, oil brokers and tanker owners said.

“You need to get your basic energy needs from a reliable source,” Barstad said. “For Europe, Russia was the source, but it is no longer reliable, so you have a problem.”

This story was published from a news agency feed with no text edits

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California Environmental Laws and Policies Update – March 2022 #2 | Allen Matkins https://islandcrisis.net/california-environmental-laws-and-policies-update-march-2022-2-allen-matkins/ Sat, 12 Mar 2022 02:28:49 +0000 https://islandcrisis.net/california-environmental-laws-and-policies-update-march-2022-2-allen-matkins/ To concentrate M Live – March 9 The US Environmental Protection Agency (EPA) on Tuesday released a memorandum to direct billions of dollars in water infrastructure spending that will go to local communities across the United States through various state revolving funds. The agency directed states to ensure that disadvantaged communities, which struggle with disproportionately […]]]>

To concentrate

M Live – March 9

The US Environmental Protection Agency (EPA) on Tuesday released a memorandum to direct billions of dollars in water infrastructure spending that will go to local communities across the United States through various state revolving funds. The agency directed states to ensure that disadvantaged communities, which struggle with disproportionately higher pollution and environmental health risks, receive a fair share of funds. The EPA wants states to evaluate and possibly revise project definitions, criteria and ranking systems to align with requirements of the Infrastructure Act, which says nearly half the money for some programs to improve drinking water, sewage treatment and other needs will go to disadvantaged communities. in the form of grants and forgivable loans.


News

Ball Associated Press – March 9

Tuesday’s failure of an ExxonMobil proposal to make thousands of truck trips a year to central California to transport oil from now-idle offshore platforms has heightened attention on an even dispute. larger: the construction of a pipeline across the state to transport the crude. The company’s plan was to send up to 24,820 tankers a year on Coastal Route 101 and State Route 166 for seven years or until the pipeline was repaired or replaced. In a 3-2 vote, the Santa Barbara County Board of Supervisors rejected the plan, denying the company a crucial step in its hopes to resume production on the trio of several-year-old rigs. decades. ExxonMobil said trucking was the only option to get crude to markets until a pipeline becomes available.


Ball Reuters – March 9

The U.S. EPA on Wednesday reinstated California’s ability to set its own zero-emission vehicle sales mandate and tailpipe emissions limits, reversing a 2019 decision under the Trump administration. The agency said it was finalizing a decision to reinstate a Clean Air Act waiver to California that was first granted in 2013. The EPA is also rejecting a Trump-era decision to prohibit other states from adopting California’s tailpipe emission standards.


Ball The Bakersfield Californian – March 4

Kern County launched the environmental review process for a California carbon capture and sequestration (CCS) project last Friday, marking the first time such a project has been reviewed in the state. The review will focus on a plan by local oil producer California Resources Corp. aimed at collecting carbon dioxide from various industrial sources and burying it in depleted oil reservoirs using half a dozen injection wells 26 miles southwest of Bakersfield in the ‘Elk Hills. Although the oil industry has increasingly embraced CCS as a means of removing greenhouse gases from the atmosphere, environmental groups remain skeptical, in part because the facilities require large amounts of energy and the transport of CO2 over long distances.


Ball Courthouse News Service – March 7

The city of Los Angeles has entered the legal fray over banned polychlorinated biphenyls, or PCBs, joining other California cities in suing Monsanto on the grounds that the chemicals contaminated the city’s water sources. Although PCBs, listed by the EPA as a probable human carcinogen, were banned in the United States in 1979, their presence persists in a variety of older products, including electrical equipment, caulks, paints and cleaning products. sealing, and, according to the city, they continue to pollute rivers, lakes and streams. A Monsanto spokesperson said in a written statement that the company believes the lawsuit is “without merit.”


Ball Stockton Record – March 9

A San Joaquin County pesticide spraying company was negligent when its helicopter pilots let the toxic chemicals drift over residents, including onto a Lodi school, a judge ruled Tuesday. Alpine Helicopter Service, Inc. broke the law by carelessly releasing the harmful chemicals on at least five occasions between 2014 and 2020, according to the San Joaquin County District Attorney’s Office. The drift of pesticides is prohibited by the food and agricultural code. Civil penalties and the terms of a permanent injunction against the defendants will be determined during the second phase of the trial.

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FICO doubles down on software and platform businesses with new management https://islandcrisis.net/fico-doubles-down-on-software-and-platform-businesses-with-new-management/ Thu, 10 Mar 2022 22:31:00 +0000 https://islandcrisis.net/fico-doubles-down-on-software-and-platform-businesses-with-new-management/ BOZEMAN, Mont.–(BUSINESS WIRE)–Leading applied analytics firm FICO today announced the promotions of Don Peterson to vice president of global sales and customer success, Alexandre Graff to vice president of global partnerships and alliances, and Kevin Deveau as vice president and general manager of sales in the United States and Canada. All of the expanded roles […]]]>

BOZEMAN, Mont.–(BUSINESS WIRE)–Leading applied analytics firm FICO today announced the promotions of Don Peterson to vice president of global sales and customer success, Alexandre Graff to vice president of global partnerships and alliances, and Kevin Deveau as vice president and general manager of sales in the United States and Canada. All of the expanded roles were designed to energize FICO’s software business and further accelerate adoption of the FICO® platform.

“I am proud to announce these well-deserved promotions for Don, Kevin and Alexandre. These three individuals are critical to our business and have been central to our success, which includes their direct work with the FICO platform,” said Stephanie Covert, Executive Vice President of Software at FICO. “These promotions will elevate each respective team as we strive to expand our software business and strengthen our ability to meet our customers’ critical decision management needs.

Don Peterson’s decade at FICO included several senior sales positions. Since assuming his role as Vice President of Financial Services and US Sales, he has led his team to exceed goals in each of the past six years. Peterson works directly with FICO’s largest banking clients, as well as automotive and telecommunications lenders. Prior to joining FICO, Peterson was head of enterprise sales for a $400 million SaaS provider and CEO of a publicly traded predictive analytics company.

Alexandre Graff is a leader with more than 25 years of experience in multiple sales and senior management positions in consulting, software and technology companies. Over the past eight years as FICO’s Managing Director for Latin America and the Caribbean (LAC), he has worked to expand FICO’s presence in the financial services, telecommunications, insurance, manufacturing, retail and government, in addition to accelerating awareness of FICO in the region. Graff is set to expand FICO’s global partner program and indirect go-to-market effort, which includes sales, product implementation and technology development.

Kevin Deveau is an accomplished senior sales executive with nearly 40 years of deep international experience delivering enterprise software to clients in insurance, financial services, healthcare, retail retail and government, including more than a decade of FICO experience. Deveau was most recently vice president and general manager of FICO Canada and responsible for insurance in the United States and Canada. In his expanded role as Vice President and General Manager of U.S. and Canada Sales, he will lead the team responsible for growing FICO’s market share in the company’s largest region and continue to strengthen customer relations.

About the FICO® Platform

The FICO® platform provides the ideal decision-making foundation that businesses need to succeed in their digital transformation. The innovative database predicts, analyzes and optimizes customer interactions in real time to make better customer decisions. This accelerates business success by accelerating time to value and is made possible through industry-leading advanced analytics, decision modeling, and AI in an open and extensible platform.

About FICO

FICO (NYSE: FICO) powers the decisions that help people and businesses around the world thrive. Founded in 1956 and based in Bozeman, MT, the company pioneers the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 U.S. and foreign patents on technologies that increase profitability, customer satisfaction and business growth in financial services, telecommunications, healthcare, retail, transportation and supply chain. procurement, and many other sectors. With FICO solutions, businesses in more than 120 countries are doing everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of planes and rental cars are in the right place at the right time.

Learn more at http://www.fico.com.

Join the conversation on https://twitter.com/fico & http://www.fico.com/en/blogs/

For FICO news and media resources, visit www.fico.com/news.

FICO is a registered trademark of Fair Isaac Corporation in the United States and other countries.

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Covid-19 Live Updates: News on Mask Mandates, Cases and Vaccines https://islandcrisis.net/covid-19-live-updates-news-on-mask-mandates-cases-and-vaccines/ Wed, 09 Mar 2022 19:16:12 +0000 https://islandcrisis.net/covid-19-live-updates-news-on-mask-mandates-cases-and-vaccines/ PicturePresident Biden addressed the government’s response in January amid a coronavirus surge fueled by the Omicron variant. New cases have since declined dramatically across the country.Credit…Doug Mills/The New York Times Congress is working Wednesday to pass a $1.5 trillion bill that would spend $15.6 billion on federal pandemic response efforts, about half of what the […]]]>
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Credit…Doug Mills/The New York Times

Congress is working Wednesday to pass a $1.5 trillion bill that would spend $15.6 billion on federal pandemic response efforts, about half of what the Biden administration initially sought to do. in the face of the continuing toll of the coronavirus crisis.

With Republicans refusing to spend fresh money on pandemic response efforts, lawmakers agreed to take funding from existing programs, including $7 billion set aside under the coronavirus relief act of $1.9 trillion from last year to help state governments.

But the review of the package hit a snag Wednesday morning, just hours after it was released, when some Democrats objected to covering pandemic aid by cutting state funding and other Covid programs. . A sufficient number of defections could deprive Democratic leaders of the votes they need to move forward.

“This deal was done behind closed doors, members found out this morning – it’s totally unacceptable,” Rep. Angie Craig, a Minnesota Democrat, said, speaking to reporters as she left a meeting with Democratic leaders. She added, “We fought tooth and nail to get those dollars back to our state governments.”

The National Governors Association has strongly opposed proposals to roll back state funding. On Tuesday, Governor Asa Hutchinson of Arkansas, chairman of the association, and Governor Philip D. Murphy of New Jersey, vice chairman, wrote a letter to congressional leaders urging them to “negotiate in good faith” and to preserve funding.

Action stalled in the House as top Democrats worked to keep the bill on track.

The measure would send $10.6 billion to the Department of Health and Human Services to pay for additional antivirals, vaccines and testing, as well as research and development to counter any future variants. It would also provide around $5 billion for a global vaccination effort.

In an administrative policy statement, the Biden administration welcomed the reprogrammed funding, but noted that “additional funds will be needed to continue to provide the treatments, vaccines and tests that Americans need and to prepare to fight the pandemics.” future variants”.

A coronavirus surge in the United States fueled by the highly transmissible variant of Omicron has eased after new cases reached a pandemic peak in January, and many states lifted precautions and restrictions. There are still more than 1,000 new deaths a day on average, according to a New York Times database.

The White House initially launched a request for up to $30 billion, though officials eventually asked for $22.5 billion, as part of its new coronavirus response strategy. But Republicans pointed to a series of bipartisan pandemic relief bills that passed Congress in 2020 and last year’s sweeping pandemic rescue act, signed into law last March against their unified opposition, and were reluctant to approve additional funds.

Top Democrats, facing a looming deadline to fund the government by Friday and rushing to capitalize on strong support from both parties for emergency aid for Ukraine, accepted those terms as the price to go. moving forward with their first major spending program since President Biden took office. .

Speaker Nancy Pelosi of California, in a letter to Dear Colleague sent late Wednesday morning, urged her caucus to support the package, advising them that Democrats had delayed deeper funding cuts and that it was important to see the omnibus package promulgated.

“Democrats were also able to ensure that remaining payments to localities received no funding cuts,” Pelosi wrote in the letter. “Republicans continued to push for state budget cuts, but we were able to ensure that all states received at least 91% of the state funds they hoped to receive.”

But some Liberal Democrats have questioned why party leaders agreed to claw back money to offset coronavirus aid, but not billions of dollars in emergency aid for Ukraine and other military spending. .

“To turn around and say now that we’re getting back hundreds of millions of dollars, in the name of bipartisanship, is just unbelievable,” Rep. Cori Bush, Democrat of Missouri, said in a statement to The Times. “I vehemently oppose efforts to recover the vital resources we need to recover fully and fairly from this pandemic.”

The comprehensive bill, which funds the government through September, affects all federal programs and would also accomplish a range of long-standing bipartisan priorities, including reauthorizing the Violence Against Women Act and clarifying that jurisdiction Federal regulation extends to vaping and synthetic tobacco. It would also provide $13.6 billion for emergency military and humanitarian aid to Ukraine.

Madeleine Ngo contributed report.

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