European Union

Russia Says the Gas Pipeline to Germany Will Remain Closed

Gazprom said on Friday that it would postpone restarting the flow of natural gas through a closely watched pipeline that connects Russia and Germany, an unexpected delay that appeared to be part of a larger struggle between Moscow and the West over energy and the war in Ukraine.

The Russian-owned energy giant had been expected to resume the flow of gas through the Nord Stream 1 pipeline on Saturday after three days of maintenance. But hours before the pipeline was set to reopen, Gazprom said that problems had been found during inspections, and that the pipeline would be closed until they were eliminated. It did not give a timeline for restarting.

The announcement had the hallmarks of a tit-for-tat move. Earlier on Friday, finance ministers for the Group of 7 countries said that they had agreed to impose a price cap mechanism on Russian oil in a bid to choke off some of the energy revenue Moscow is still collecting from Europe.

Eric Mamer, a spokesman for the European Commission, said that the “fallacious pretenses” for the latest delay were “proof of Russia’s cynicism.”

Russia has, during Mr. Putin’s long tenure, used energy for geopolitical ends, often with the goal of gaining leverage over European policies toward Ukraine. Mr. Putin has taken a keen interest in the oil and natural gas industries, often negotiating deals personally with energy giants in ways that barely hide the political subtext. The Nord Stream pipelines, which are designed to bypass Ukraine by sending gas directly to Germany under the Baltic Sea, have been central to the Kremlin’s political use of energy.

In its statement Friday, Gazprom said it found oil leaks around a turbine used to pressurize the pipeline, forcing it to call off the restart. The German company Siemens Energy, the maker of the turbine, cast doubt on that account. “As the manufacturer of the turbines, we can only state that such a finding is not a technical reason for stopping operation,” the company said late Friday. Siemens also said there were additional turbines available that could be used to keep the pipeline operating.

OPEC Plus group of oil producing countries, headed by Saudi Arabia and Russia, have been hinting that they might pivot away from their gradual post-pandemic production increases and cut output to bolster falling prices. The group is expected to meet on Monday to set oil production levels.

“Putin will endeavor to demonstrate that he has not played his last card and that there are many open windows in his energy war with the West,” Helima Croft, head of commodities at RBC Capital Markets, wrote in a note to clients on Friday.

The latest action by Gazprom will raise fears of a permanent shutdown of the pipeline, which had been the key conduit for gas to Germany, a country heavily dependent on Russian natural gas. Like other European Union nations, Germany has been rushing to fill storage facilities before winter as insurance against Russian cutoffs.

since late July. Well after Russia invaded Ukraine in late February, the pipeline was typically transporting around five times that level.

Britain’s energy regulator said that fuel bills for 24 million households would rise by 80 percent beginning in October, putting pressure on the next prime minister, expected to be Liz Truss, to turn immediate attention to coming up with a massive aid package to head off a catastrophic winter.

Britain’s government is not the only one working to mitigate the energy crisis in Europe. Facing dire circumstances, lawmakers and regulators across the continent are increasingly intervening in the energy markets to protect consumers.

At the same time, the European natural gas market has changed substantially over the last year as Russia crimped supplies and Europe turned to other sources. Flows from Russia to Europe have declined sharply.

imports of liquefied natural gas shipped by sea from the United States and elsewhere, and increased pipeline flows from producers including Norway and Azerbaijan. The problem is that the shifts have forced gas prices higher, as Europe vies with Asia for limited supplies of liquefied gas.

Until Friday’s announcement there was increasing optimism about the prospect for navigating the winter with less Russian gas, leading to the fall in natural gas prices in recent days. Wood Mackenzie, an energy research firm, has projected that Russian pipeline gas imports will steadily decline from supplying more than a third of European demand in recent years to around 9 percent in 2023.

Even the importance of Nord Stream has diminished. Analysts say that Gazprom has so constrained Nord Stream volumes this summer that the pipeline’s performance is no longer crucial to the overall fundamentals of the market. But news about the conduit still has a psychological impact, and some analysts expect gas prices to jump when markets open on Monday.

“A complete shutdown will obviously have implications on market sentiment given how tight the market is,” said Massimo Di Odoardo, vice president for global gas at Wood Mackenzie. Such an event, he added, would “increase the risk of further cuts via other pipelines bringing Russian gas to the E.U. via Ukraine and Turkey.”

Andrew E. Kramer contributed.

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Inflation Tightens Its Grip on Europe

At the Saku beer factory in Estonia, the mammoth copper brew kettles sit side by side like household sink plungers stored on a shelf in a manor house for giants. The brewery has been around for 200 years, but this is the first time in memory that the company has planned two price rises — of 10 percent each — in a single year.

And even that double-barreled increase won’t be enough to cover the brewery’s skyrocketing costs, said Jaan Harms, a board member at Saku.

“We are in an environment of increasing inflation, and, of course, energy is by far the main driver,” Mr. Harms said. When its energy contracts run out at the end of the summer, the company’s gas costs will rise 400 percent and the electricity bills will double, he said. And because the providers of every product and service they buy are also dealing with soaring fuel prices, those costs are rising as well.

estimates released Wednesday by the European Commission’s statistical office.

3 percent — a level that at the time set off alarms for reaching a decade-long high, but that would now be greeted with relief.

European Central Bank is scheduled to meet, is likely to reinforce the view that interest rates need to be raised again to curb inflation, despite the risk of recession.

Speaking at an economic summit near Jackson, Wyo., over the weekend, Isabel Schnabel, a member of the bank’s executive board, warned that inflation was more persistent than expected and said the bank needed to act “forcefully.”

“Inflation volatility has surged beyond the levels seen during the 1970s,” Ms. Schnabel said, a result of the coronavirus pandemic, the war in Ukraine and climate change that is causing widespread drought, wildfires and other extreme weather.

nearly double in October, making it difficult for millions of people to heat their homes this winter.

inflation hit 8.5 percent in July, still high but a decline from the 9.1 percent registered in June as prices for gas, airfares, used cars and hotel rooms fell.

agreement with the European Union to temporarily cap electricity prices at €40 per megawatt-hour. Professors at the Instituto Superior de Engenharia in Lisbon and at Complutense University in Madrid calculated that prices were 15 to 18 percent lower than they would have been without the cap.

Elsewhere in Europe, prices for electricity in August set eye-popping records, according to Rystad Energy, a consultancy in Norway, with an average price of €547 per megawatt-hour.

glass bottles from its Russian supplier after the outbreak of the war in Ukraine. Since then, wholesale bottle prices have shot up 20 to 80 percent.

solar panels atop its warehouses and brewery this summer, and it now boasts the country’s largest industrial rooftop solar park. In addition, the thermostats in offices will be lowered by 2 degrees this winter.

The energy crisis has also spurred the brewery to reconsider a proposal it had shelved as too expensive: the construction of a water treatment plant. The energy savings previously were not large enough to justify the cost. “But we are now thinking of doing this because the rules of the game have changed so much,” Mr. Harms said.

Saku’s initial price increase has gone through, but so far, there has not been a drop in sales. Summer vacation is prime season, Mr. Harms said, and when the weather is warm in this northern European country, people spend and drink.

But like the rest of Europe, Estonia is preparing for a dark winter.

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Prince William Charity Invests With Bank Tied To Dirty Fuels

Financial experts say investments like those of the prince’s conservation foundation can be blind spots for charities and philanthropies.

The conservation charity founded by Prince William, second in line to the British throne and who launched the Earthshot Prize, keeps its investments in a bank that is one of the world’s biggest backers of fossil fuels, The Associated Press has learned.

The Royal Foundation also places more than half of its investments in a fund advertised as green that owns shares in large food companies that buy palm oil from companies linked to deforestation.

“The earth is at a tipping point and we face a stark choice,” the prince, a well-known environmentalist, is quoted saying on the websites of the Earthshot Prize and Royal Foundation.

Yet in 2021, the charity kept more than $1.3 million with JPMorgan Chase, according to the most recent filings, and still invests with the corporation today. The foundation also held $2 million in a fund run by British firm Cazenove Capital Management, according to the 2021 filing. As with JPMorgan, it still keeps funds with Cazenove, which in May had securities linked to deforestation through their use of palm oil. The foundation invested similar amounts in both funds in 2020, its older filings show. As of December 2021, the charity also held more than $12.1 million in cash.

The investments, which the Royal Foundation didn’t dispute when contacted by the AP, come as top scientists repeatedly warn that the world must shift away from fossil fuels to sharply reduce emissions and avoid more and increasingly intense extreme weather events.

Financial experts say investments like those of the foundation can be blind spots for charities and philanthropies. As climate change is an increasing area of attention for foundations and others, organizations have sometimes struggled to recognize where their own investments lie and align them with more environmentally friendly choices, despite growing numbers of ways to steer clear of funds linked to fossil fuels.

Like the Royal Foundation, in recent years other foundations, including high profile British charities like the National Trust and Wellcome Trust, also have faced criticism for investments with strong connections to fossil fuels or environmentally harmful practices. Microsoft co-founder and philanthropist Bill Gates announced that he divested his foundation’s direct oil and gas holdings in 2019.

Charities that are talking the talk “also need to walk the walk,” said Andreas Hoepner, professor of Operational Risk, Banking and Finance at University College Dublin, who helped design several European Union climate benchmarks and has sat on its sustainable finance group.

“There are funds that are more sustainably oriented,” Hoepner added, pointing to a dozen alternatives to the JPMorgan product that are marketed as sustainable.

There are also alternatives to Cazenove’s sustainability fund. For example, funds manager CCLA caters to churches and charities and does not invest in businesses that get more than 10% of their revenue from oil and gas. Another option is Generation Investment Management, founded in part by former U.S. Vice President Al Gore.

The Royal Foundation said by email that it had followed Church of England guidelines on ethical investment since 2015, and goes beyond them.

“We take our investment policies extremely seriously and review them regularly,” the statement said.

The foundation said management fees paid to JPMorgan were small, but declined to provide a figure.

It’s not clear what role, if any, Prince William had in investment decisions, as he did not respond to AP requests for comment. JPMorgan Asset Management in an email declined to comment on questions about charities investing in their products despite its record of financing fossil fuels.

Bloomberg data show JPMorgan has underwritten more bonds and loans for the fossil fuel industry and earned greater fees than its competitors in the five years up to 2021.

Environmental NGO Rainforest Action Network looked at direct loans and stock ownership along with bonds and estimated that between 2016 and 2021, JPMorgan’s banking arm financed fossil fuel companies with some $382 billion. This was more than any other bank.

“Major investors have their pick of companies to manage their assets, and mission-driven institutions have options well beyond the world’s worst fossil fuel bank,” said Jason Disterhoft, senior energy campaigner with Rainforest Action Network.

As one of the world’s biggest banks, JPMorgan is also a leading financier of green projects, and has set a target of investing $1 trillion in these over the next decade. However, it made about $985 million in revenue from fossil fuels compared to $310 million from green projects since the Paris Agreement in 2015, about three times more, according to Bloomberg Data.

Compared to some other charities, the Royal Foundation’s investments are small, with little impact on climate change. But they are not in line with the ethos of the foundation, which lists conservation and mental health as main points of emphasis, or Prince William’s public statements. His Earthshot Prize, a “global search for solutions to save our planet,” awards grants of up to $1.2 million each year to projects confronting environmental challenges, according to the charity’s website, which suggests banks as among potential recipients. In July, the Royal Foundation announced that the Earthshot Prize had become an independent charity and Prince William would be its president.

Through launching and awarding the prize and in other public appearances, Prince William has been outspoken on the environment for years. He has argued that entrepreneurs should focus their energies on saving the Earth before investing in space tourism, encouraged parents to consider how their children don’t have the same outdoor opportunities they had and urged conservation.

“Today, in 2022, as the queen celebrates her Platinum Jubilee, the pressing need to protect and restore our planet has never been more urgent,” the prince said in June during Queen Elizabeth II’s Platinum Jubilee.

The policies of the Royal Foundation do not allow ownership of stock in oil companies, tobacco or alcohol. But profits from the Royal Foundation’s account could enable JPMorgan to loan more money to the many oil companies it backs, allowing their expansion. In the same way, investing in companies tied to problems with palm oil supply could help fund unsustainable practices.

While the Cazenove fund is marketed as “sustainable,” as of May 31 the fund held almost $6 million of shares in Nestlé, and shares worth $8.1 million in Reckitt Benckiser, according to Morningstar Direct data. Both Nestlé and Reckitt Benckiser have faced controversy over their palm oil supply. Clearing rainforests to make way for palm oil plantations is one of Southeast Asia’s biggest drivers of deforestation.

Nestlé is the world’s largest food and beverage manufacturer, while Reckitt manufactures popular U.S. brands including Lysol and Woolite, and Vanish and Dettol, familiar in the U.K.

A 2021 investigation by the environmental NGO Global Witness said both companies were sourcing palm oil via intermediaries from illegally deforested areas in Papua New Guinea. The plantations responsible were also accused of corruption, use of child labor and paying police to attack protesters.

Another 2021 report, by sustainability analysts Chain Reaction Research, said both companies purchased palm oil from an Indonesian firm that has an affiliated mining project accused of deforestation in an orangutan habitat.

An investigation in 2020 by Chain Reaction Research found that more than 1,235 acres — over 1,000 American football fields — of rainforest in Indonesia’s Papua province were felled by a supplier to Wilmar, a giant food and oils producer, from which both source their palm oil.

David Croft, head of sustainability at Reckitt, said no tainted palm oil entered its products from the Papua New Guinea properties, while conceding their mills were previously in its supplier list. An intermediary company linked Reckitt to the Indonesian mining conglomerate in its supply chain, he said, and it was investigating. Croft said they have had “active discussions” with Wilmar, which stopped sourcing from the Papua plantation in January 2022. In a public statement published in response to Chain Reaction’s investigation, Wilmar disputed the cleared area was high conservation value forest.

Despite being a “relatively small user of palm oil,” Reckitt knows there is more to do, said Croft, and is accelerating its progress. Croft said Reckitt could not get all the product it needs from certified producers before 2026.

Emma Keller, head of sustainability at Nestlé U.K. and Ireland, said the Wilmar case was to be investigated. Nestlé engages with suppliers that fall short to help them change and monitors performance, she said.

Sixty percent of Nestlé’s palm oil supply was certified as sustainable by the Roundtable on Sustainable Palm Oil, an industry-organized effort, in 2021, according to the World Wide Fund for Nature. For Reckitt, that figure was 15.3%.

Keller said that by winter 2021, more than 90% of Nestlé palm oil was deforestation-free and it will achieve zero-deforestation status by the end of 2022. It uses supply chain maps, on-the-ground verification and satellite monitoring for verification. Nestlé was moving toward “a model for conserving and restoring the world’s forests,” Keller said.

Lily Tomson, of the responsible investment charity ShareAction, said Cazenove had shown some leadership on sustainable investing, but there “remain areas charities such as the Royal Foundation can push them on.”

Investors can vote on key environmental issues in companies where they hold shares, for example setting targets to align with the Paris Agreement, or on climate lobbying. Yet Cazenove’s parent company, Schroders, voted against 22% of environmental resolutions last year, ShareAction research has found.

Kate Rogers, head of sustainability at Cazenove Capital, said the company engaged with Nestlé and Reckitt, and has seen progress on deforestation.

Environmental factors are ingrained in the company’s decision-making, she said, every investment assessed for sustainability. Cazenove has committed to eliminating commodity-driven deforestation from its investments by 2025 and said a new voting policy meant that as of June 2022, the firm had voted against 60 directors of companies it invests in over a lack of climate action.

Dr. Raj Thamotheram, former head of responsible investing at both a $109 billion British university pension fund and AXA Investment Managers, said foundations should be better regulated, with annual reports made to detail how well their investment strategy aligns with their mission.

Thamotheram, now an independent adviser, called unsustainable investments a “cultural and governance blind spot of huge proportions,” and said they were endemic in the charity sector.

“It’s the status quo approach and it needs shaking up,” he said.

Additional reporting by The Associated Press.

: newsy.com

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Afghanistan Marks 1 Year Since Taliban Seizure As Woes Mount

Bearded Taliban fighters, some hoisting rifles or the white banners of their movement, staged small victory parades on foot, bicycles and motorcycles.

The Taliban on Monday marked a year since they seized the Afghan capital of Kabul, a rapid takeover that triggered a hasty escape of the nation’s Western-backed leaders, sent the economy into a tailspin and fundamentally transformed the country.

Bearded Taliban fighters, some hoisting rifles or the white banners of their movement, staged small victory parades on foot, bicycles and motorcycles in the streets of the capital. One small group marched past the former U.S. Embassy, chanting “Long live Islam” and “Death to America.”

A year after the dramatic day, much has changed in Afghanistan. The former insurgents struggle to govern and remain internationally isolated. The economic downturn has driven millions more Afghans into poverty and even hunger, as the flow of foreign aid slowed to a trickle.

Meanwhile, hard-liners appear to hold sway in the Taliban-led government, which imposed severe restrictions on access to education and jobs for girls and women, despite initial promises to the contrary. A year on, teenage girls are still barred from school and women are required to cover themselves head-to-toe in public, with only the eyes showing.

Some are trying to find ways to keep education from stalling for a generation of young women and underground schools in homes have sprung up.

Natalia Kanem, executive director of the U.N.’s sexual and reproductive health agency, said in a statement that Afghan females must not be forgotten.

“As the world faces multiple, overlapping crises, we must not forget the women and girls of Afghanistan. When women’s and girls’ basic rights are denied, we are all diminished,” she said.

A year ago, thousands of Afghans had rushed to Kabul International Airport to flee the Taliban amid the U.S. military’s chaotic withdrawal from Kabul after 20 years of war — America’s longest conflict.

Some flights resumed relatively quickly after those chaotic days. On Monday, a handful of commercial flights were scheduled to land and take off from a runway that last summer saw Afghan men clinging to the wheels of planes taking off, some falling to their death.

Schoolyards stood empty Monday as the Taliban announced a public holiday to mark the day, which they refer to as “The Proud Day of Aug. 15” and the “First Anniversary of the Return to Power.”

“Reliance on God and the support of the people brought this great victory and freedom to the country,” wrote Abdul Wahid Rayan, the head of the Taliban-run Bakhtar News Agency. “Today, Aug. 15, marks the victory of Islamic Emirate of Afghanistan against America and its allies occupation of Afghanistan.”

During a gathering to mark the anniversary, the Taliban deputy prime minister, Abdul Salam Hanafi, offered congratulations to “the entire nation on the day of the conquest of Kabul, which was the beginning of the complete end of the occupation.”

In remarks broadcast live by state radio and TV, he boasted of what he described as “great achievements” under the Taliban, such as an alleged end of corruption, improved security and banned poppy cultivation.

On the eve of the anniversary, former Afghan President Ashraf Ghani defended what he said was a split-second decision to flee, saying he wanted to avoid the humiliation of surrender to the insurgents. He told CNN that on the morning of Aug. 15, 2021, with the Taliban at the gates of Kabul, he was the last one at the presidential palace after his guards had disappeared.

Tomas Niklasson, the European Union’s special envoy to Afghanistan, said the bloc of nations remains committed to the Afghan people and to “stability, prosperity and sustainable peace in Afghanistan and the region.”

“This will require an inclusive political process with full, equal and meaningful participation of all Afghan men and women and respect for human rights,” Niklasson wrote.

German Foreign Minister Annalena Baerbock said an international responsibility toward Afghanistan remains after the NATO withdrawal.

“A regime that tramples on human rights cannot under any circumstances be recognized,” she said in a statement. “But we must not forget the people in Afghanistan, even a year after the Taliban takeover.”

Additional reporting by The Associated Press.

: newsy.com

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China Halts Climate, Military Ties Over Nancy Pelosi’s Visit To Taiwan

The measures are the latest in a series of steps intended to punish the U.S. for allowing the visit to the island it claims as its own territory.

China on Friday said it is canceling or suspending dialogue with the United States on a range of issues from climate change to military relations and anti-drug efforts in retaliation for a visit this week to Taiwan by U.S. House Speaker Nancy Pelosi.

The measures, which come amid cratering relations between Beijing and Washington, are the latest in a promised series of steps intended to punish the U.S. for allowing the visit to the island it claims as its own territory, to be annexed by force if necessary. China on Thursday launched threatening military exercises in six zones just off Taiwan’s coasts that it says will run through Sunday.

Missiles have also been fired over Taiwan, defense officials told state media. China opposes the self-governing island having its own contacts with foreign governments, but its response to the Pelosi visit has been unusually vociferous.

The Foreign Ministry said dialogue between U.S. and Chinese regional commanders and defense department heads would be canceled, along with talks on military maritime safety.

Cooperation on returning illegal immigrants, criminal investigations, transnational crime, illegal drugs and climate change will be suspended, the ministry said.

China said Friday that more than 100 warplanes and 10 warships have taken part in the live-fire military drills surrounding Taiwan over the past two days, while announcing mainly symbolic sanctions against U.S. House Speaker Nancy Pelosi and her family over her visit to Taiwan earlier this week.

The official Xinhua News Agency said Friday that fighters, bombers, destroyers and frigates were all used in what it called “joint blockage operations.”

The military’s Eastern Theater Command also fired new versions of missiles it said hit unidentified targets in the Taiwan Strait “with precision.”

The Rocket Force also fired projectiles over Taiwan into the Pacific, military officers told state media, in a major ratcheting up of China’s threats to attack and invade the island.

The drills, which Xinhua described as being held on an “unprecedented scale,” are China’s most strident response to Pelosi’s visit. The speaker is the highest-ranking U.S. politician to visit Taiwan in 25 years.

Dialogue and exchanges between China and the U.S., particularly on military matters and economic exchanges, have generally been halting at best. Climate change and fighting trade in illegal drugs such as fentanyl were, however, areas where they had found common cause, and Beijing’s suspension of cooperation could have significant implications for efforts to achieve progress in those issues.

China and the United States are the world’s No. 1 and No. 2 climate polluters, together producing nearly 40% of all fossil-fuel emissions. Their top climate diplomats, John Kerry and Xie Zhenhua, maintained a cordial relationship that dated back to the Paris climate accord, which was made possible by a breakthrough negotiated among the two and others.

China under Kerry’s prodding committed at last year’s U.N. global climate summit in Glasgow to working with the U.S. “with urgency” to cut climate-wrecking emissions, but Kerry was unable to persuade it to significantly speed up China’s move away from coal.

On the Chinese coast across from Taiwan, tourists gathered Friday to try to catch a glimpse of any military aircraft heading toward the exercise area.

Fighter jets could be heard flying overhead and tourists taking photos chanted, “Let’s take Taiwan back,” looking out into the blue waters of the Taiwan Strait from Pingtan island, a popular scenic spot in Fujian province.

Pelosi’s visit stirred emotions among the Chinese public, and the government’s response “makes us feel our motherland is very powerful and gives us confidence that the return of Taiwan is the irresistible trend,” said Wang Lu, a tourist from neighboring Zhejiang province.

China is a “powerful country and it will not allow anyone to offend its own territory,” said Liu Bolin, a high school student visiting the island.

His mother, Zheng Zhidan, was somewhat more circumspect.

“We are compatriots and we hope to live in peace,” Zheng said. “We should live peacefully with each other.”

China’s insistence that Taiwan is its territory and its threat to use force to bring it under its control have featured highly in ruling Communist Party propaganda, the education system and the entirely state-controlled media for more than seven decades since the sides were divided amid civil war in 1949.

Taiwan residents overwhelmingly favor maintaining the status quo of de facto independence and reject China’s demands that the island unify with the mainland under Communist control.

On Friday morning, China sent military ships and war planes across the mid-line of the Taiwan Strait, the Taiwanese Defense Ministry said, crossing what had for decades been an unofficial buffer zone between China and Taiwan.

Five of the missiles fired by China since the military exercises began Thursday landed in Japan’s Exclusive Economic Zone off Hateruma, an island far south of Japan’s main islands, Japanese Defense Minister Nobuo Kishi said. He said Japan protested the missile landings to China as “serious threats to Japan’s national security and the safety of the Japanese people.”

Japan’s Defense Ministry later said they believe four other missiles fired from China’s southeastern coast of Fujian flew over Taiwan.

Japanese Prime Minister Fumio Kishida said Friday that China’s military exercises aimed at Taiwan represent a “grave problem” that threatens regional peace and security.

Chinese Foreign Ministry spokesperson Hua Chunying said China’s actions were in line with “international law and international practices,” though she provided no evidence.

“As for the Exclusive Economic Zone, China and Japan have not carried out maritime delimitation in relevant waters, so there is no such thing as an EEZ of Japan,” Hua told reporters at a daily briefing.

In Tokyo, where Pelosi is winding up her Asia trip, she said China cannot stop U.S. officials from visiting Taiwan. Kishida, speaking after breakfast with Pelosi and her congressional delegation, said the missile launches need to be “stopped immediately.”

China said it summoned European diplomats in the country to protest statements issued by the Group of Seven industrialized nations and the European Union criticizing the Chinese military exercises surrounding Taiwan.

Its Foreign Ministry on Friday said Vice Minister Deng Li made “solemn representations” over what he called “wanton interference in China’s internal affairs.”

Deng said China would “prevent the country from splitting with the strongest determination, using all means and at any cost.”

The ministry said the meeting was held Thursday night but gave no information on which countries participated. Earlier Thursday, China canceled a foreign ministers’ meeting with Japan to protest the G-7 statement that there was no justification for the exercises.

Both ministers were attending a meeting of the Association of Southeast Asian Nations in Cambodia.

China has promoted the overseas support it has received for its response to Pelosi’s visit, mainly from fellow authoritarian states such as Russia, Syria and North Korea.

China had earlier summoned U.S. Ambassador Nicholas Burns to protest Pelosi’s visit. The speaker left Taiwan on Wednesday after meeting with President Tsai Ing-wen and holding other public events. She traveled on to South Korea and then Japan. Both countries host U.S. military bases and could be drawn into a conflict involving Taiwan.

The Chinese exercises involve troops from the navy, air force, rocket force, strategic support force and logistic support force, according to Xinhua.

They are believed to be the largest held near Taiwan in geographical terms and the closest in proximity — within 12 miles of the island.

U.S. Secretary of State Antony Blinken on Friday called the drills a “significant escalation” and said he has urged Beijing to back down.

U.S. law requires the government to treat threats to Taiwan, including blockades, as matters of “grave concern.”

The drills are an echo of the last major Chinese military drills aimed at intimidating Taiwan’s leaders and voters in 1995 and 1996.

Taiwan has put its military on alert and staged civil defense drills, but the overall mood remained calm on Friday. Flights have been canceled or diverted and fishermen have remained in port to avoid the Chinese drills.

In the northern port of Keelung, Lu Chuan-hsiong, 63, was enjoying his morning swim Thursday, saying he wasn’t worried.

“Everyone should want money, not bullets,” Lu said.

Additional reporting by The Associated Press.

: newsy.com

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Biden Administration’s Bid to Cap Russia Oil Prices Faces Resistance

WASHINGTON — The Biden administration’s push to form an international buyers’ cartel to cap the price of Russian oil is facing resistance amid private sector concerns that it cannot be reliably enforced, posing a challenge for the U.S.-led effort to drain President Vladimir V. Putin’s war chest and stabilize global energy prices.

The price cap has been a top priority of Treasury Secretary Janet L. Yellen, who has been trying to head off another spike in global oil costs at the end of the year. The Biden administration fears that the combination of a European Union embargo on Russian oil imports and a ban on the insurance and financing of Russian oil shipments will send prices soaring by taking millions of barrels of that oil off the market.

But the untested concept has drawn skepticism from energy experts and, in particular, the maritime insurance sector, which facilitates global oil shipments and is key to making the proposal work. Under the plan, it would be legal for them to grant insurance for oil cargo only if it was being sold at or below a certain price.

Mike Salthouse, global claims director at The North of England P&I Association Limited, a leading global marine insurer. “If you have sophisticated state actors wanting to deceive people, it’s very easy to do.”

He added: “We’ve said it won’t work. We’ve explained to everybody why.”

That has not deterred Ms. Yellen and her top aides, who have been crisscrossing the globe to make their case with international counterparts, banks and insurers that an oil price cap can — and must — work at a moment of rapid inflation and the risk of recession.

“At a time of global anxiety over high prices, a price cap on Russian oil is one of the most powerful tools we have to address inflation by preventing future spikes in energy costs,” Ms. Yellen said in July.

The Biden administration is trying to mitigate fallout from sanctions adopted by the European Union in June, which would ban imports of Russian oil and the financing and insuring of Russian oil exports by year’s end. Britain was expected to enact a similar ban but has not yet done so.

not solve the world’s oil supply problems. European officials, who have been skeptical, continue to say they are analyzing its viability.

restricted natural gas flows to parts of Europe in retaliation for sanctions, would curb oil exports because of their importance to its economy.

senior fellow at the Atlantic Council who works in the financial services industry, said of Russia’s cooperation with a price cap. “If that were the case, he wouldn’t have invaded Ukraine in the first place.”

But proponents believe that if the European Union bans insurance transactions, an oil price cap may be the best chance to mitigate the economic fallout.

John E. Smith, former director of the foreign assets control unit, said the key was ensuring that financial services firms and maritime insurers were not responsible for vetting every oil transaction, as well as providing guidance on complying with the sanctions.

“The question is will enough jurisdictions agree on the details to move this forward,” said Mr. Smith, who is now co-head of Morrison & Foerster’s national security practice. “If they do, it could be a win for everyone but Russia.”

Matina Stevis-Gridneff contributed reporting from Brussels.

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As Russia Threatens Europe’s Energy, Ukraine Braces for a Hard Winter

In a thickly forested park bordered by apartment blocks and a playground, a dozen workers were busy on a recent day with chain saws and axes, felling trees, cutting logs and chopping them into firewood to be stashed in concealed sheds around Lviv, the largest city in western Ukraine.

Ironworkers at a nearby forge are working overtime to produce wood-burning stoves to be stored in strategic locations. In municipal depots, room is being made to stockpile reserves of coal.

The activity in Lviv is being played out in towns and cities across Ukraine, part of a nationwide effort to amass emergency arsenals of backup fuel and critical provisions as Russia tightens its chokehold on energy supplies across Europe.

curtailed gas supplies to Europe last week, leading the European Union to announce that it will reduce imports of Russian gas so as not to be held hostage. Russia turned off the gas taps to Latvia on Saturday, after the government there announced additional military assistance for Ukraine, the latest in a string of European countries to do so.

Ukraine buys its natural gas from European neighbors, so the restriction of deliveries to Europe threatens its access to energy, too.

ordered to evacuate this past weekend after months of relentless Russian bombardment destroyed the infrastructure needed to deliver heat and electricity.

“We understand that the Russians may continue targeting critical energy infrastructure before and during the winter,” said Oleksiy Chernyshov, Ukraine’s minister for communities and territories development, in an interview.

“They’ve demolished central heating stations in big cities, and physical devastation is still happening nationwide,” he said. “We are working to repair damage, but it doesn’t mean we won’t have more.”

Far from Ukraine’s embattled southeastern front, the campaign is being waged in forests and in steel forges, at gas storage sites and electrical stations, and even in basement boiler rooms, as the government mobilizes regions to activate a blueprint for amassing fuel and shelter.

disconnect Ukraine’s energy grid from Russia and Belarus and link it directly to the European Union’s. Last month, Ukraine began exporting small amounts of electricity to Romania, with hopes of eventually supplying European companies that have been hit by Russian natural gas cuts, a potential source of valuable income.

But Ukrainian officials say the ability to supply electricity at home, especially over the coming winter, when temperatures can fall far below freezing, is increasingly threatened as Russia intensifies a campaign of targeting the infrastructure that delivers energy.

Russian shelling has hit thermal power plants around the country and over 200 gas-fired boiler plants used for centralized heating. Around 5,000 kilometers of gas pipelines have been damaged, along with 3,800 gas distribution centers, according to an analysis by the Woodrow Wilson International Center’s Kennan Institute, a think tank focused on Russia.

Gas is especially critical for Ukraine because it is used to warm thousands of high-rise apartment complexes, schools, post offices and municipal buildings that rely on centralized heating systems.

largest gas reserves in Europe and has 11 billion cubic meters in storage. Andrii Zakrevskyi, head of the Ukrainian oil and gas association, said Monday that was enough to meet Ukraine’s needs before the war — but the level is roughly half what the government would like it to be.

racing to secure new energy sources, the pain circles back to Ukraine, which imports gas from Europe after halting direct imports from Russia after the 2014 annexation of Crimea. Russia’s squeeze has pushed European gas futures prices to record levels, making imports more expensive at a time when the government in Kyiv is facing a budget crisis.

All of which has gotten the country mobilized in a hurry.

Swiatoslaw and Zoriana Bielinski recently stocked the cellar of their modest Lviv home with wood. The couple has purchased scores of batteries and several battery-operated lamps in case the lights go out, and they were preparing to buy gas bottles for cooking.

“We have to start thinking about this,” said Alicja Bielinska, Mr. Bielinski’s sister, who had helped the couple stock up. “Ultimately, we can survive without light and gas, but we won’t be able to survive if the invaders take over.”

Officials responsible for city planning have stockpiled on a much grander scale, collecting thousands of tons of wood and a large stash of coal in the last week alone. Mr. Sadovyi, Lviv’s mayor, said more supplies were on the way and has ordered thermostats to be lowered to 15 degrees Celsius (59 degrees Fahrenheit) when winter sets in.

On a recent day, Mr. Sadovyi buzzed around the city hall courtyard, greeting locals who had gathered for now-regular demonstrations on how to prepare for heat and electricity cuts — or worse. Two emergency workers showed residents how to put on a chemical suit in case of an attack: gas mask firmly in place, the suit sealed tight over the head.

Forges have shifted some production to put a priority on making tens of thousands wood-burning stoves, some emblazoned with the Ukrainian coat of arms. Town halls in over 200 cities are building stockpiles, along with tents that can house up to 50 people apiece in the event that multifamily apartment buildings are left without gas needed to heat them.

The tents can be moved quickly to sites without electricity or heat, providing emergency shelter and stoves for boiling water and cooking, said Mr. Chernyshov, the development minister.

“We hope we won’t have to use them,” said Iryna Dzhuryk, an administrative director in Lviv. “But this is an absolutely unusual situation. We are shocked by what we’re facing and worried about making sure we have enough to keep people warm.”

Nearby, sheds recently built to stock firewood have been camouflaged by locals. Additional wood is expected to arrive in the coming weeks, hewn from groves of trees inside the city and from the vast forests of western Ukraine.

One hour’s drive north of Lviv, in a dense wood streaked with yellow sunlight, forestry service workers labored to generate enough firewood to supply a beleaguered nation. On a recent weekday, they cut into a grove of weathered oak trees and trucked them to a sawmill, where a lumberyard half the size of a football field was stacked a meter high with freshly hewn logs.

Firewood sales have doubled from a year ago, and prices have nearly tripled as the country stocks up, said Yuriy Hromyak, vice director of the Lviv Regional Department of Forestry.

Even the forest isn’t sheltered from Russian attacks, he added. Ukrainian forces recently shot down a rocket fired from Belarus on a nearby oil storage facility. The tanks — which were empty — weren’t damaged, but the blast blew out all the windows in a wood storage warehouse and in parts of the sawmill.

“The Russians will do anything to try to destroy us,” he said. “But no one has managed to unite us as much as Putin has.”

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Myanmar Executions Of 4 Activists Spur Global Outrage

The execution of the four activists prompted immediate calls from around the world for a moratorium on carrying out any further sentences.

International outrage over Myanmar’s execution of four political prisoners intensified Tuesday with grassroots protests and strong condemnation from world governments, as well as fears the hangings could derail nascent attempts to bring an end to the violence and unrest that has beset the Southeast Asian nation since the military seized power last year.

Myanmar’s military-led government that seized power from elected leader Aung San Suu Kyi in February 2021 has been accused of thousands of extrajudicial killings since then, but the hangings announced Monday were the country’s first official executions in decades.

“We feel that this is a crime against humanity,” said Malaysian Foreign Minister Saifuddin Abdullah, speaking at the side of the United Nations’ Special Envoy on Myanmar Noeleen Heyzer at a press conference in Kuala Lumpur.

He said the executions would be a focus of the upcoming meetings of the Association of Southeast Asian Nations foreign ministers, which begin in Cambodia in a week.

Myanmar is a member of the influential ASEAN group, which has been trying to implement a five-point consensus it reached on Myanmar last year calling for dialogue among all concerned parties, provision of humanitarian assistance, an immediate cessation of violence and a visit by a special envoy to meet all parties.

With the executions, he said, “we look at it as if the junta is making a mockery of the five point process.”

Heyzer said that the U.N. sees the executions as a “blatant violation” of a person’s “right to life, liberty and security.”

In Bangkok, hundreds of pro-democracy demonstrators protested outside neighboring Myanmar’s embassy, waving flags and chanting slogans amid a heavy downpour.

“The dictators used their power arbitrarily,” yelled a young man through a bullhorn to the crowd, some of whom waved pictures of Suu Kyi or the four executed men. “We can’t tolerate this any more.”

Myanmar’s government spokesperson, Maj. Gen. Zaw Min Tun, firmly rejected the criticism, saying the executions were carried out in line with the country’s law and not for “personal” reasons.

“We knew that there may be criticism when the death penalties were handed down and conducted in line with domestic law,” he told reporters. “However, we did it for reasons of domestic stability, for the rule of law and order, and security.”

He said the executed men were convicted of crimes involving supporting violent “terrorists” and acts — allegations denied by their defenders — and said their punishment was “appropriate.”

“If we considered leniency for those who committed such crimes it would have been cruel and without sympathy for the victims,” he said.

Among the four executed was Phyo Zeya Thaw, a 41-year-old former lawmaker from Suu Kyi’s party, and Kyaw Min Yu, a 53-year-old democracy activist better known as Ko Jimmy. All were tried, convicted and sentenced by a military tribunal with no possibility of appeal.

The executions were carried out over the weekend, and came as a surprise even to family members.

Phyo Zeya Thaw’s mother Khin Win May told The Associated Press she had just spoken with her son via video conference on Friday and he had asked her for reading glasses, books and some spending money.

“I was a little shocked when I heard about the execution, I think it will take some time,” she said.

She said she hoped her son and the others would be seen as martyrs for their cause.

“I’m proud of all of them as they sacrificed their lives for the country,” she said.

The execution of the four activists prompted immediate calls from around the world for a moratorium on carrying out any further sentences, and condemnation for what was broadly seen as a politically motivated move.

Myanmar, formerly known as Burma, announced in June that it was going to resume executing prisoners and has 113 others who have been sentenced to death, although 41 of those were convicted in absentia, according to the Assistance Association for Political Prisoners, a non-governmental organization that tracks killing and arrests. At the same time, 2,120 civilians have been killed by security forces since the military takeover.

“This was a barbaric act by Myanmar’s military regime,” said New Zealand’s Foreign Minister Nanaia Mahuta of the four executions carried out. “New Zealand condemns these actions in the strongest possible terms.”

Australia’s Foreign Minister Penny Wong said she was “appalled” by the executions.

“Australia opposes the death penalty in all circumstances for all people,” she said.

Earlier, Australia and New Zealand had joined the European Union, Japan, the United Kingdom, the United States, Canada, Norway and South Korea in a joint statement condemning the executions.

ASEAN denounced the executions as “highly reprehensible.”

It said the move represented a setback to the group’s efforts to facilitate a dialogue between the military leadership and opponents.

“We strongly and urgently call on all parties concerned to desist from taking actions that would only further aggravate the crisis, hinder peaceful dialogue among all parties concerned, and endanger peace, security and stability, not only in Myanmar, but the whole region,” the group said in a statement.

The military’s seizure of power from Suu Kyi’s elected government triggered peaceful protests that soon escalated to armed resistance and then to widespread fighting that some U.N. experts characterize as a civil war.

Some resistance groups have engaged in assassinations, drive-by shootings and bombings in urban areas. Mainstream opposition organizations generally disavow such activities, while supporting armed resistance in rural areas that are more often subject to brutal military attacks.

News of the executions prompted a flash-demonstration Monday in Myanmar’s largest city, Yangon, where about a dozen protesters took to the streets marching behind a banner saying “we are never afraid,” then quickly slipping away before authorities could confront them.

Similar demonstrations broke out in more rural areas across Myanmar on both Monday and Tuesday.

The last judicial execution to be carried out in Myanmar is generally believed to have been of another political offender, student leader Salai Tin Maung Oo, in 1976 under a previous military government led by dictator Ne Win.

Additional reporting by the Associated Press.

: newsy.com

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U.K. Lawmakers Select 2 Final Candidates To Replace PM Boris Johnson

By Luke Hanrahan
July 21, 2022

Prime Minister Boris Johnson will remain in office until lawmakers vote and decide on either Rishi Sunak and Liz Truss as the new leader.

Members of Parliament have selected the final two candidates in the contest to become the U.K.’s next prime minister.

Rishi Sunak, the man in charge of the country’s finances during the pandemic, was an analyst at Goldman Sachs before government.

His Achilles heel is his family’s fortune and his wealthy wife’s controversial tax record.

If Sunak is successful, he will become the country’s first prime minister of South Asian descent.

“The question now for our members is, ‘Who is the best person to defeat Keir Starmer and the Labour Party at the next election?’ I believe I’m the only candidate who can do that,” Sunak said.

The second final candidate is Liz Truss, who is the country’s current foreign secretary. Before becoming a politician, she was a successful accountant. Her Achilles heel is the fact that she was once a member of another political party — the Liberal Democrats — and, a leading campaigner to keep Britain in the European Union.

“What’s important is that we hit the ground running,” Truss said. “We’ve got two years until a likely next general election. And I want to deliver for people. I want to deliver lower taxes. I want to help struggling families.”

Both candidates have argued for extreme tax cuts. Truss’ proposed cuts would go furthest, and arrive faster — a move which appeals to core Conservative voters.

Sunak has countered by claiming his government will follow the mold of Margaret Thatcher’s, perhaps the most notorious Tory tax-cutting prime minister the country has ever seen.

Sunak may have been the most popular with MPs, but the challenge now is to win over the Conservative Party’s roughly 160,000 members. Half of that number are over 60, and 97% of them are white and live in southern England. Among members, Truss is the favorite to win, and they now decide who will be Britain’s next prime minister. 

In Prime Minister Boris Johnson’s final appearance in Parliament, he paid tribute to himself. He will remain in office until the new leader is selected in early September.

: newsy.com

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President Biden Announces Steps To Tackle Climate ‘Emergency’

Pres. Biden made a speech at an ex-coal plant, which embodies the transition to clean energy that he is seeking but has struggled to realize thus far.

President Joe Biden on Wednesday announced modest new steps to combat climate change and promised more robust action to come, saying, “This is an emergency and I will look at it that way.”

The president stopped short, though, of declaring a formal climate emergency, which Democrats and environmental groups have been seeking after an influential Democratic senator quashed hopes for sweeping legislation to address global warming. President Biden hinted such a step could be coming.

“Let me be clear,” President Biden said. “Climate change is an emergency, and in the coming weeks I’m going to use the power I have as president to turn these words into formal, official government actions through the appropriate proclamations, executive orders and regulatory power that a president possesses.”

President Biden delivered his pledge at a former coal-fired power plant in Massachusetts. The former Brayton Point power plant in Somerset, Massachusetts, is shifting to offshore wind power manufacturing, and President Biden chose it as the embodiment of the transition to clean energy that he is seeking but has struggled to realize in the first 18 months of his presidency.

Executive actions announced Wednesday will bolster the domestic offshore wind industry in the Gulf of Mexico and Southeast, as well as expand efforts to help communities cope with soaring temperatures through programs administered by the Federal Emergency Management Agency, Department of Health and Human Services and other agencies.

The trip comes as historic temperatures bake Europe and the United States. Temperatures reached 115 degrees in Portugal as wildfires raged in Spain and France, and Britain on Tuesday shattered its record for highest temperature ever registered. At least 60 million Americans could experience triple-digit temperatures over the next several days as cities around the U.S. sweat through more intense and longer-lasting heat waves that scientists blame on global warming.

Calls for a national emergency declaration to address the climate crisis have been rising among activists and Democratic lawmakers after Sen. Joe Manchin, D-W.Va., last week scuttled talks on a long-delayed legislative package.

White House officials have said the option remains under consideration. Press secretary Karine Jean-Pierre on Tuesday declined to outline a timetable for a decision aside from saying no such order would be issued this week.

Gina McCarthy, President Biden’s climate adviser, said President Biden is not “shying away” from treating climate as an emergency.

“The president wants to make sure that we’re doing it right, that we’re laying it out, and that we have the time we need to get this worked out,” she told reporters on Air Force One.

Sen. Ed Markey, D-Mass., said he was “confident that the president is ultimately ready to do whatever it takes in order to deal with this crisis.”

“I think that he’s made that clear in his statement last Friday, and I think coming to Massachusetts is a further articulation of that goal,” Markey told reporters Tuesday.

An emergency declaration on climate would allow the president to redirect federal resources to bolster renewable energy programs that would help accelerate the transition away from fossil fuels. The declaration also could be used as a legal basis to block oil and gas drilling or other projects, although such actions would likely be challenged in court by energy companies or Republican-led states.

Such a declaration would be similar to the one issued by President Biden’s Republican predecessor, Donald Trump, who declared a national emergency to build a wall on the southern border when lawmakers refused to allocate money for that effort.

President Biden pledged last week to take significant executive actions on climate after monthslong discussions between Manchin and Senate Majority Leader Chuck Schumer, D-N.Y., came to a standstill. The West Virginia senator cited stubbornly high inflation as the reason for his hesitation, although he has long protected energy interests in his coal- and gas-producing state.

For now, Manchin has said he will only agree to a legislative package that shores up subsidies to help people buy insurance under the 2010 health care law and allows Medicare to negotiate prescription drug prices that will ultimately lower the cost of pharmaceuticals for consumers.

The White House has indicated it wants Congress to take that deal, and President Biden will address the climate issue on his own.

The former Brayton Point power plant closed in 2017 after burning coal for more than five decades. The plant will now become an offshore wind energy site.

A new report says the U.S. and other major carbon-polluting nations are falling short on pledges to fight climate change. Among the 10 biggest carbon emitters, only the European Union has enacted polices close to or consistent with international goals of limiting warming to just a few more tenths of a degree, according to scientists and experts who track climate action in countries.

Additional reporting by The Associated Press.

: newsy.com

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