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Turkey seeks US waiver to continue payments for Russian gas imports
Turkey is negotiating with the US for a sanctions waiver to continue using Gazprombank for natural gas payments to Russia. Energy Minister Alparslan Bayraktar emphasized that without this exemption, Turkey would be unable to pay for gas imports, jeopardizing its energy supply.
rising food prices in russia linked to war and inflation concerns
Russian food prices are surging, with inflation hitting 8.5% in October, driven by supply shortages and increased production costs linked to the ongoing war in Ukraine. Basic items like butter have seen price hikes of up to 30%, prompting thefts and forcing consumers to downgrade their purchases. Despite the economic strain, public criticism of the government remains muted, as propaganda continues to deflect blame onto "unfriendly" countries.
trump faces complex foreign policy challenges in second presidency
Trump's incoming administration is marked by hawkish appointments, yet there are signs of a more accommodating approach towards China, influenced by business interests. Despite ambitions to broker peace globally, challenges such as escalating conflicts in Ukraine and Israel's military actions complicate his peacemaking goals. The evolving international landscape may hinder Trump's ability to leverage negotiations effectively, raising questions about his capacity to fulfill his promises of ending wars and making significant deals.
putin and erdogan discuss trade and cooperation in recent phone call
Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan held a phone call to discuss bilateral relations. They focused on enhancing trade and economic cooperation, with plans for further contacts between relevant departments to address current issues on the agenda.
Putin enacts debt forgiveness law for new military recruits in Ukraine
Russian President Vladimir Putin has enacted a law that forgives debt arrears of up to 10 million roubles ($95,835) for new army recruits who sign contracts to fight in Ukraine for at least a year, effective December 1. This law targets potential recruits with existing debt collection proceedings prior to that date, as Russia intensifies military recruitment efforts with significant financial incentives.
trump's looming presence shapes global trade discussions at apec and g20 summits
At the APEC summit in Lima, the looming presence of Donald Trump overshadowed discussions, with diplomats expressing anxiety over his potential return to power and the threat of universal tariffs. Meanwhile, President Xi Jinping advocated for economic globalization, contrasting Trump's protectionist stance, as global leaders navigated a divided landscape marked by geopolitical tensions and uncertainty. The atmosphere was one of cautious anticipation, with many waiting to see how Trump's policies might reshape international trade dynamics.
euro faces renewed pressure amid rising geopolitical tensions and trade uncertainties
The euro has remained above parity with the U.S. dollar since September 2022, but rising tensions with Russia and potential U.S. tariffs under President-elect Trump could threaten this stability. Economists predict the euro may return to parity by 2025, influenced by U.S. monetary policy and global trade uncertainties. The outlook remains volatile, with factors such as tariffs and economic responses from Europe and China playing crucial roles in the euro"s future trajectory.
China's Role in Ukraine Peace Efforts Amid Ongoing Conflict with Russia
The cryptocurrency market has recently surged, with a global market cap exceeding $3.1 trillion, marking a 2.8% increase in just one day. Amid ongoing conflict, Ukraine is intensifying efforts to combat financial crimes related to cryptocurrencies, training officials in Vienna. Meanwhile, the Russian Ruble has plummeted to a 17-month low against the dollar due to economic pressures from the war.
us investigates russian accounts at ubS after credit suisse takeover
UBS is under investigation by US authorities for potential sanctions violations related to Russian client accounts acquired from Credit Suisse. The bank is cooperating with the Office of Foreign Assets Control to identify and close accounts with "problematic origins," amid heightened scrutiny from both US and Swiss regulators. This situation is straining US-Swiss relations, particularly over transparency issues regarding beneficial ownership.
biden and xi discuss stable us china relations amid transition to trump
During a meeting at the APEC Summit in Lima, Xi Jinping urged President Biden to maintain stable U.S.-China relations, emphasizing the importance of cooperation amid concerns over the incoming Trump administration's protectionist policies. Biden highlighted the significance of candid dialogue to prevent miscalculations and conflict, while also pressing Xi to influence North Korea's actions amid rising tensions. The leaders discussed various issues, including China's support for Russia and cybersecurity threats, as they navigated a complex geopolitical landscape.
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