Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
by Oui (Oui) on Wed May 1st, 2024 at 10:05:30 PM EST
euractiv | US issues hundreds of sanctions targeting Russia, takes aim at Chinese companies, 2 May
"Treasury has consistently warned that companies will face significant consequences for providing material support for Russia's war, and the US is imposing them today on almost 300 targets," Yellen said in a statement.
Treasury is committed to disrupting individuals and entities who help facilitate Russia's acquisition of technology and equipment for its war machine. Treasury and other U.S. government partners have issued extensive guidance and conducted outreach around the world to educate and inform about the risks of doing business with Russia, and Treasury will continue to take unilateral action when necessary to disrupt Russia's military-industrial supply chains, no matter where they are located.
Washington has since sought to crack down on evasion of the Western measures anti-coercion racketeering, including by issuing sanctions on firms in China, Turkey, and the United Arab Emirates. Treasury's action on Wednesday sanctioned nearly 60 targets located in Azerbaijan, Belgium, China, Russia, Turkey, the United Arab Emirates, and Slovakia it accused of enabling Russia to "acquire desperately-needed technology and equipment from abroad."
The State Department also imposed sanctions on four China-based companies it accused of supporting Russia's defense industrial base, including by shipping critical items to entities under US sanctions in Russia, as well as companies in Turkey, Kyrgyzstan, and Malaysia that it accused of shipping high priority items to Russia.
Russia relies on external suppliers for cotton cellulose and its highly flammable by-product, nitrocellulose, which are key explosives precursors that Russia needs to keep producing gunpowder, rocket propellants, and other explosives. Today's action targets major Russian importers of cotton cellulose, nitrocellulose, and key inputs to nitrocellulose such as cotton pulp, as well as two PRC-based suppliers sending these substances to Russia.
"The concern about enTItiEs in the PRC supplying Russia's war is in focus at the highest levels of the Department and the administration. The reason is very simple: the PRC is the leading supplier of critical components for Russia's defense industrial base, and Russia is using them to prosecute its war on Ukraine," a senior State Department official said.
treasury.gov | OFAC Targets Sanctions Evaders Supporting Key Hizballah Financial Advisor, 2 May SWIFT-like cross-border "immobilised" assets
"Hizballah continues to rely on seemingly legitimate business investments and key facilitators to generate revenue for the group's operations, including its destabilizing attacks across Israel's northern border," said Under Secretary of the Treasury for Terrorism and Financial ["]Intelligence["] Brian E. Nelson [!]. "The United States remains focused on relentlessly pursuing Hizballah's key revenue sources and constraining its ability to further destabilize the region defend Lebanon and Palestine."
archive Adrian Zenz gunpowder plot, 15 May 2023 price cap psychotic break
by Cat on Thu May 2nd, 2024 at 05:30:11 PM EST
[ Parent ]
US, allies press UAE over Russia trade, sanctions, 2 May
A US State Department spokesperson said a US delegation had visited the UAE as part of an ongoing dialogue about transshipment trends, especially of dual-use goods that support the Russian defense industrial base.
"We will follow with interest the European Commission's investigation of how the Chinese government treats foreign medical devices in the PRC's government procurement market under the EU's new International Procurement Instrument,"
Existing sanctions have had limited impact. Russia, which has accused the West of trying to bully other nations into following its restrictions, has found ways to procure dual-use products through third countries.
Using the new weapons
For the best part of a decade, the European Commission has been drawing up a stronger arsenal of trade defenses, but the big question has always been whether Brussels was prepared to use them, or whether they were primarily only a deterrent.
Western diplomats also say UAE banks have closed accounts of some Russian nationals and that it was now generally more difficult for Russians to open accounts after the US threatened sanctions against financial institutions in third countries that were found to be helping Russia skirt sanctions. However, last week, during the visit by Western officials, the European Parliament voted to keep the UAE on its own watch list for countries found to have deficiencies in their framework to counter money laundering and terrorist financing.
archive World Governments Summit, "Ask Zelensk* for money", "covered nations", BRICS Expansion and EU in NATO's Declaration of War, World POWs BRICS XV logistics

wto.org, Agreement on Government Procurement 2012 (GPA), full text
wto.org, Agreement on Government Procurement, summary
"The GPA is a plurilateral agreement within the framework of the WTO, meaning that not all WTO members are parties to the Agreement. At present, the Agreement has 22 parties comprising 49 WTO members. Thirty-five WTO members/observers participate in the Committee on Government Procurement as observers. Several WTO members have initiated accession negotiations."; "access" applications and procedure

EU International Procurement Instrument (IPI)
full text (29.08.22)

by Cat on Thu May 2nd, 2024 at 06:19:57 PM EST
[ Parent ]
ft | The clash over whether to commandeer Russia's frozen assets, 3 May
At the recent gathering of G20 finance ministers in Brazil, [some] delegates were gripped by a deep sense of unease over a pressing issue: the potential seizure or [embezzlement] of Russian [property] frozen [sic] under the [G7] sanctions that followed its invasion of Ukraine.
G20 (1999 NGO): CA, EU (EU-CO, EU-EC), FR, DE, IT, JP, UK, US, KR, AR, AU, BR, CN, IN, ID, MX, RU, SA, TR, ZA
Two ministers—Saudi Arabia's Mohammed al-Jadaan and Indonesia's Sri Mulyani Indrawati—were among those particularly alarmed by the idea. Were G7 countries seriously preparing to do this? And had they considered the full implications of such a drastic step?

Their questions to their western counterparts cut to the heart of a fraught debate over whether hundreds of billions of euros in frozen Russian central bank assets should be mobilised ["commandeer"ed] to help fund Ukraine as the conflict there drags into a third year.

archive UNLOCK THE VALUE of Russian sovereign assets frozen
"We immobilised the assets together; we would like to mobilise them together as well," says Daleep Singh, White House deputy national security adviser for international economics.
Further afield, the worry is about the [risk] this would set. Countries such as Indonesia and Saudi Arabia have been lobbying EU capitals not to seize the assets, according to officials, fearing for the future of their own reserves held ["immobilised"] within the west. "They are very worried," says one European official, adding that their main concern is: "Is our money still safe there?"
contradictions in terms
"It is morally and politically absolutely sound, but legally it is not sound," says Armin Steinbach, professor of law and economics at HEC Paris business school.
The problem with that plan, for Europe, is what happens if the war ends in the near future [!]. The debt present value raised against the expectation of decades' worth of profits of future cash flow would need to be backed by state guarantees does not discount future capital costs assumed by Ukraine's creditors or by the Russian assets themselves—something that could be "complicated and costly", says one EU official.
Present Value (PV)
Net Present Value (NPV)
Internal Rate of Return (IRR)
by Cat on Fri May 3rd, 2024 at 03:21:34 PM EST
[ Parent ]
by Cat on Fri May 3rd, 2024 at 03:22:34 PM EST
[ Parent ]
by Cat on Sat May 4th, 2024 at 07:17:31 PM EST
[ Parent ]
euractiv | EU to discuss compromise text on ["]windfall profits["] from immobilised Russian assets next week
EU ambassadors on Wednesday, 8 May, are expected to discuss another compromise text on the use of windfall profits [sic] from Russian frozen assets, with the clock ticking before a June G7 summit. While the Belgian EU presidency text is ready to be discussed, there have been new requests for changes and amendments that would risk delaying and jeopardising the overall text, people familiar with the discussions said.

Several EU member states also raised objections to the fact that proceeds [sic] are subject to a 25% tax under existing Belgian [tax] rules. Belgium said it decided to set the [tax] revenue aside and allocate all of it to Ukraine, which is likely to include the Czech initiative to acquire ammunition for Kyiv.

Assuming EU ambassadors sign off on the compromise next week, EU finance ministers could rubber stamp the deal at their next gathering on 14 May. This would give Europeans enough time to meet the earlier declared target to start using the proceeds [sic] by June before Hungary takes over the EU's rotating presidency, which some fear could hinder further efforts to support Ukraine in fighting off Russia's invasion.

present value
US-led G7 push
Timeframes < wipes tears > are key to the plan, which would provide Ukraine with the largest possible support quickly, rather than in smaller instalments, ["people familiar with the discussions"] said.
According to some EU officials, it could help mitigate a potential return of former Republican president Donald Trump, under whom further US financial and military support to Ukraine could be in jeopardy. Although G7 statements have made clear the entire group's intention to make Russia pay war reparations for damages in Ukraine, it is unclear whether Trump would commit to this. ###
by Cat on Sun May 5th, 2024 at 05:40:16 PM EST
[ Parent ]
finance.yahoo! | With moratorium, Ukraine risks demand for immediate payment on all bonds (12.06.15)
"Bondholders, led by Franklin Templeton, have declared themselves "deeply concerned" with Finance Minister Natalia Yaresko[!]s threat to call a moratorium on foreign debt payments if restructuring talks drag on into the summer."
archive Jun 11th 2022

ft | Ukraine creditors form committee as Kyiv seeks debt restructuring, 16 Apr junk bond

Ukrainian bonds covered by the committee include $17bn in US dollar securities and €2.25bn in euro debt, with maturities ranging from this year to 2035. The names of members of the group have not been disclosed. The bonds currently trade at highly distressed levels of about 25 to 30 cents per dollar of original face value.
"When we agreed the moratorium in 2022, there was ability to pay but obviously a national need to preserve resources," one bondholder said. "Now we know the debt is unsustainable, it doesn't make sense to kick the can down the road."
archive rating action, sell something like a CDO

babel.ua | WSJ: Ukraineʼs foreign creditors want to resume payments on the national debt as early as 2025, 5 May net present value calculated risk

The group, which holds about a fifth of Ukraineʼs $20 billion in outstanding Eurobonds, recently formed a committee and hired lawyers and bankers to negotiate. Creditors want Ukraine to strike a deal to resume payments in exchange for writing off much of the countryʼs outstanding debt. Some of the groupʼs bondholders discussed these plans with senior officials in Kyiv.
At the same time, the US and its allies are concerned that taxpayer money will end up in the hands of bondholders if Ukraine resumes any debt service. The [G7] countries agreed to give Ukraine a debt holiday worth about $4 billion of its own loans until 2027 and expressed concern that bondholders could start receiving payments earlier than they do. The WSJ says that without a deal, Ukraine could default after the debt holiday ends in August.

Bondholders hope to receive up to $500 million in annual interest payments [from WHOM?] after agreeing to write off [!?] the debt. They have made it clear that they may be willing to provide further debt relief at a later date.

archive  balance sheet "accountability", "high-quality securities" and "ficticious assets"

m'k. What are the vigilantes fighting for? UA.gov and sanctioned RU eNTiTY bonds are worthless. The odds that some  UA commercial paper comprise "immobilised" Russian assets are not disclosed. What's left?

by Cat on Sun May 5th, 2024 at 10:00:18 PM EST
[ Parent ]
kommersant | Euroclear CEO
"A decision should be made in the coming weeks. The amount will be in the range between 87% and 89% of all income from Russian assets ["intérêts sur les avoirs russes."] after taxes," said Valerie Oubrain in an interview with the Belgian newspaper L'Echo*. The total amount of income from blocked assets, according to her, will be 2-3 billion euros, depending on interest rates [?].
* googlish: "interest on the assets in Russian"?
Quote Investigator: What kind of woman do you think I am?
He: We've already established that. Now we're just haggling over the price.
ChatGPT | The EU's new plan to break Russian assets EU capitals' stalemate, 6 May
The European Commission proposed in March to use 90 percent of the proceeds [sic] from Russia's frozen sovereign assets to buy weapons for Ukraine, while directing the rest to humanitarian aid. The plan applies only to the €192 billion being held by Euroclear, the Belgium-based securities depository.
The latest proposal takes a slightly tougher approach to Euroclear—following complaints from across the bloc that Belgium had given the financial institution preferential treatment. The EU halved Euroclear's commission [sic] from 3 percent to 1.5 percent of the total profits [sic]—which is still seen as too much by some capitals, including Berlin.
Belgium did not mention the issue ["tax on Euroclear's profit"] in the text, arguing that it falls beyond the scope of its proposal. But pressure is growing on senior government figures to publicly explain how the money is being handed over to Ukraine, two EU diplomats said.

by Cat on Tue May 7th, 2024 at 10:49:34 PM EST
[ Parent ]
euractiv | Don Brussels agrees to send €3bn from frozen Russian assets to aid Ukraine
EU diplomats agreed Wednesday to use income from frozen Russian state assets to aid Ukraine - paving the way for the war-torn country to get around €3 bn for arms purchases and reconstruction before the summer.
The plan—which also has backing from the group of seven leading industrialised democracies—comes as Ukraine hopes to turn the tide in an increasingly desperate military campaign, bolstered by €89bn recently agreed by the US Congress. But Ukrainian ministers have said Brussels needs to go further than merely scooping up interest [sic] payments—and fully confiscate ["mobilise"?] Moscow's assets to ensure the aggressor pays for the cost of war.
archive duh syphon's buffer
The final deal allows Euroclear to keep a provisional buffer [!] worth 10% of [WHOSE?] profits, in case of litigation over the funds. It can also keep 0.3% as an incentive ["vig"], while 90% of the funds will be sent via the < wipes tears > European Peace Facility to help Ukraine buy weapons.

Commission President Ursula von der Leyen previously suggested Ukraine could receive the first funds under the mechanism by July—but the calculation will be backdated to February, when Euroclear formally segregated the assets.

by Cat on Wed May 8th, 2024 at 06:01:26 PM EST
[ Parent ]
kyivindependen | The REPO Act hasn't won the war for Russian assets, 7 May
...For one, the bill does not guarantee the confiscation of Russian assets - this is a decision for the U.S. president.
Another issue is that the REPO Act stipulates [?] that any efforts by the U.S. to confiscate and allocate Russian assets must be done in conjunction with international allies, including the G7, the European Union, and other countries.
DIVISION F, Title I, Title II - Repurposing of Russian sovereign assets
The fact that the U.S. would require the prior consent of foreign governments [nope] before it could take discretionary action has been criticized by legal experts [?] as being "unprecedented" and "unconstitutional."
SEC.203 Prohibition on release of blocked Russian sovereign assets.
(a) In general.—No Russian sovereign asset that is blocked or effectively immobilized by the Department of the Treasury before the date specified in section 104(j) may be released or mobilized, except as otherwise authorized by this division, until the date on which the President certifies to the appropriate congressional committees
Russian assets in the U.S. are also only a drop in the bucket, totaling around $4-5 billion. This barely scratches the surface of Ukraine's $486 billion reconstruction bill or $100 billion annual war costs....
ChatGPT | Zelensk* Reveals 10-Year Military Aid Plan between U.S. and Ukraine, 1 May
"negotiations for the bilateral security agreement are underway, with teams from both Ukraine and the United States collaborating on drafting the text"

< wipes tears >

sum chump fell for the "unrepayable loan" scam.

by Cat on Wed May 8th, 2024 at 08:40:17 PM EST
[ Parent ]
thehill | US announces $400 million military aid package for Ukraine, 10 May
On Friday, Russia also launched a major attack in the northeastern Kharkiv region, putting even more pressure on Ukrainian forces.
defense.gov | Biden Administration Announces Additional Security Assistance for Ukraine, 10 May PDA "attritable capabilities" LIST
by Cat on Sat May 11th, 2024 at 01:10:38 AM EST
[ Parent ]
by Cat on Tue May 14th, 2024 at 09:58:19 PM EST
[ Parent ]
WH Press Briefing: Karine Jean-Pierre and John Kirby | May 17, 2024, A/V (EN), 00:56:45
KIRBY @ 06:50: Now, if I could just quickly shift to Ukraine. We are closly monitoring Russia's offensive in northeastern Ukraine and are working around the clock to get weapons and equipment into the hands of Ukrainian soldiers to help them repel these attacks. Soon after the president signed the National Security Supplemental Act last month, he authorized two military aid packages under the presidential draw-down authority [PDA], and late last month the Department of Defense announced a six billion dollar package through the Ukraine Security Assistance Initiative which will be used to procure new equipment to strengthen Ukraine's defenses over the medium and long term, and of course you saw Secretary Blinken in Keev this past week announce that the United States will provide an additional two billion dollar aid package for Ukraine's defense under the foreign military financing program. All of this—sorry, that aid for FMF will used in four ways—first, to help Ukraine procure weapons and equipment to repel Russia's invasion; second, to invest in Ukraine's defense industrial base; third, to help Ukraine purchase military equipment from other countries in addition to the United States; and finally, these funds may help other countries transition off [sic] Russian systems and incentivize [sic] donations to Ukraine.
archive Feb 15th 2024, Nov 3rd 2023, Ukraine Security Initiative, Foreign Military Sales Agency, dodig.mi, osd.mil, samm.dsca.mil, Read My Lips in Diplomacy Soley with Allies

dsca.mil, Foreign Military Financing (FMF)
cnn, US approves first-ever military aid to Taiwan through program typically used for sovereign nations (31.08.23)
"The package—which is part of the State Department[!]s foreign military financing (FMF) program—totals $80 million and will be paid for by US taxpayers."

by Cat on Sat May 18th, 2024 at 07:53:47 PM EST
[ Parent ]
Some great work Cat ... amazing how you manage all the links ... one straight line ... a continuing story (telling) of a war narrative, destroying dissent, censorship and sticking to rhetoric until defeat and retreat is inevitable ... Saigon - Baghdad - Tripoli - Damascus - Kyiv. Millions have suffered, been displaced, wounded and died ... young lives destroyed ... war trauma lasts a lifetime. ... boat refugees ... Garden and Barbarians from the Jungle

'Sapere aude'
by Oui (Oui) on Sun May 19th, 2024 at 06:00:35 AM EST
[ Parent ]
eur-lex.europa.eu | amending Regulation (EU) No 833/2014 concerning restrictive measures in view of Russia's actions destabilising the situation in Ukraine, 21 May
(8) On 28 February 2022, the Council adopted Decision (CFSP) 2022/335 (4) amending Decision 2014/512/CFSP, which prohibited any transactions related to the management of reserves, as well as of assets of the Central Bank of Russia, including transactions with any legal person, entity or body acting on behalf of, or at the direction of, the Central Bank of Russia. On 9 March 2022, the Council adopted Decision (CFSP) 2022/395 (5) to include such prohibition concerning the Russian National Wealth Fund. As a result of those prohibitions, the relevant assets held by financial institutions in the Member States are 'immobilised'.
(16) The prohibition of such other transactions generates an extraordinary and unexpected accumulation of cash balances on the balance sheets of central securities depositories within the meaning of Regulation (EU) No 909/2014 of the European Parliament and of the Council (9) that occupy a key position in the settlement and the central maintenance of financial instruments in the Union. That accumulation is due to the immobilisation of assets and reserves of the Central Bank of Russia, or those of any legal person, entity or body acting on behalf of, or at the direction of, the Central Bank of Russia, such as the Russian National Wealth Fund, because any payments of principal and interest, coupons, dividends or other income on securities to the Central Bank of Russia and those persons, entities and bodies are prohibited.

(17) Central securities depositories are in a specific situation, which is different from that of other financial institutions because cash balances of or with customers of central securities depositories are usually transferred out of the central securities depositories before the end of the day and do not yield any remuneration for the customers. The cash balances held by central securities depositories in relation to the assets of the Central Bank of Russia, or those of any legal person, entity or body acting on behalf of, or at the direction of, the Central Bank of Russia, such as the Russian National Wealth Fund, accumulating due to restrictive measures, subsequently need to be prudently managed by the central securities depositories. This results in the generation of unexpected and extraordinary revenues.

(18) Unexpected and extraordinary revenues do not have to be made available to the Central Bank of Russia under applicable rules, even after the discontinuation of the transaction prohibition. Thus, they do not constitute sovereign assets. Therefore, the rules protecting sovereign assets are not applicable to these revenues.
Article 1
Regulation (EU) No 833/2014 is amended as follows:
(1) In Article 5a, paragraphs 8 to 10 are replaced by the following:

`8.  As of 15 February 2024, and for as long as the restrictive measures set out in paragraph 4 are maintained, central securities depositories within the meaning of Regulation (EU) No 909/2014 holding assets and reserves referred to in paragraph 4 of this Article with a total value exceeding EUR 1 million shall apply the following rules regarding cash balances accumulating exclusively due to the restrictive measures:
(a) those cash balances shall be accounted for separately;
(b) revenues accruing from or generated by the cash balances referred to in point (a) from 15 February 2024 shall be registered separately in the financial accounts of central securities depositories;
(c) without prejudice to paragraphs 9 and 10, net profits determined in respect of revenues referred to in point (b) of this paragraph in accordance with national law, including by deducting all relevant expenses linked to or resulting from the management of the immobilised assets and the risk management associated with the immobilised assets and after deduction of corporate tax under the general regime of the Member State concerned, shall not be disposed of by way of distribution in the form of dividends or in whatever form to the benefit of shareholders or any third party. This prohibition shall not apply to the net profits not constituting the financial contribution referred to in paragraph 9.

9.  The net profits referred to in point (c) of paragraph 8 shall be subject to a financial contribution due by the central securities depositories to the Union.

The rate of the financial contribution shall be 99,7 % of those net profits.

The Commission shall call for financial contributions, in accordance with Regulation (EU, Euratom) 2018/1046 (*1), from the central securities depositories concerned biannually on the basis of the interim financial report referred to in paragraph 11 of this Article. The Commission shall establish the definitive amounts of the financial contribution due annually on the basis of the statutory audited financial statements for year N after they are available in year N+1. If the definitive annual amount of the financial contribution due for year N is lower than the sum of amounts of the biannual payments made in respect of year N, the difference shall be deducted from the next payment due by the central securities depositories to the Union in the year N+1, including biannual payments and transfer of amounts provisionally retained in accordance with paragraph 10, points (e) and (f). The amount due by the central securities depositories resulting from the netting pursuant to the previous sentence shall not be lower than zero.
Article 2

This Regulation shall enter into force on the date following that of its publication in the Official Journal of the European Union. This Regulation shall be binding in its entirety and directly applicable in all Member States.###

"negative disinformation," quantum disinformation, or positive disinformation?

You be the judge.

by Cat on Thu May 23rd, 2024 at 02:29:52 PM EST
[ Parent ]

Family mug shot. Finance ministers and central bank governors pose at the G7 Finance Ministers Meeting, May 24, 2024 © AFP / Gabriel Bouys
"We are discussing potential schemes to bring forward the extraordinary revenues stemming from immobilized Russian sovereign assets to the benefit of Ukraine," the draft communique reads. "We reaffirm that, consistent with our respective legal systems Russia's sovereign assets in our jurisdictions will remain immobilized until Russia pays for the damage it has caused to Ukraine."
The move comes after the US pushed for the G-7 to leverage future revenue generated from about $280 billion in Russian central bank funds, most of which lies immobilized in Europe. The plan could unlock an aid package of as much as $50 billion for Ukraine.
by Cat on Sat May 25th, 2024 at 01:07:18 AM EST
[ Parent ]
reuters | EU gets more cautious on hitting third countries over Russia sanctions
one year ago
The EU's latest draft of new sanctions against Russia would make it more difficult than originally proposed to cut trade with third countries over busting existing restrictions, a document showed, after Berlin warned against targeting China....
archive G7 Leaders Statement on Ukraine

reuters | French, Dutch seek EU sanctions on financial institutions ["]helping["] Russia
2 days ago

Ambassadors of EU governments will discuss the proposal on Wednesday as part of the 14th package of sanctions against Russia now under preparation by the EU. Under the proposal, anyone in the EU could be banned from doing business with any financial institution in the world, identified by the EU as directly or indirectly helping Russia's military obtain forbidden dual-use goods and technologies.

Such a ban could be a powerful [dis]incentive for financial institutions in the Middle East, Turkey, or even China not to engage in deals to supply EU-sanctioned dual-use goods to Russia as they could lose access to European business and the EU's financial markets their immobilised assets . EU officials said the European Commission would be likely to coordinate any such sanctions on financial institutions with the U.S., making the tool EVEN MORE POWERFUL.

"The Netherlands and France propose to introduce a legal basis ... providing for a transaction ban with financial institutions in Russia or other third countries when the Council has determined that these eNTitIes to be involved in transactions that significantly support Russia's military by facilitating exports towards Russia of essential goods for the war effort, such as dual-use goods and technologies or goods listed in annexes VII and XL of the Regulation," the Franco-Dutch proposal, seen by Reuters, said.
The EU expects to have the 14th sanctions package, which requires unanimity among all of the EU's 27 governments, ready in June.###

Proposal for a DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL establishing harmonised requirements in the internal market on transparency of interest representation carried out on behalf of third countries and amending Directive, ANNEX I
1. Regarding the eNTiTy referred to in Article 3(1):
(h) the category that most closely resembles the organisational ["]setup["] of the eNTiTy:
(i) academic institutions;
(ii) companies and groups;
(iii) law firms;
(iv) non-governmental organisations, platforms and networks;
(v) professional consultancies;
(vi) self-employed individuals;
(vii) think tanks and research institutions;
(viii) trade and business associations;
(ix) trade unions and professional associations;
(x) other organisations, public or mixed entities [?!];
DISCLAIMER: EUR-LEX may define "eNTiTy" differently in other "proposals". Why? I couldn't say. This one appears to cover every combination of "social" enterprise.
by Cat on Thu May 16th, 2024 at 01:16:02 PM EST
[ Parent ]
On the protection of the Union and its Member States from economic coercion by third countries (08.12.21)
(11) Coercion is prohibited under international law when a country deploys measures such as trade or investment restrictions in order to obtain from another country an action or inaction which that country is not internationally obliged to perform and which falls within its sovereignty [?], when the coercion reaches a certain qualitative or quantitative threshold, depending on both the ends pursued and the means deployed. The Commission should examine the third-country action on the basis of qualitative and quantitative criteria that help in determining whether the third country interferes in the legitimate sovereign choices of the Union or a Member State and whether its action constitutes economic coercion which requires a Union response.

(12) Acts by third countries are understood under customary international law to include all forms of action that are attributable to a State under customary international law. International law qualifies as an act of a State, in particular: the conduct of any State organ, of a person or EnTiTy which is not an organ of the State but which is empowered by the law of that State to exercise elements of governmental authority, an organ placed at the disposal of a State by another State, a person or group of persons that are acting on the instructions of, or under the direction or control of, that State in carrying out the conduct, a person or group of persons that are exercising elements of the governmental authority in the absence or default of the official authorities and in circumstances such as to call for the exercise of those elements of authority, and conduct that the State acknowledges and adopts as its own.

by Cat on Thu May 16th, 2024 at 02:03:59 PM EST
[ Parent ]
worldbank | 1Q2024 corn, wheat prices, April 2024 starving Africans
The World Bank's food price index eased in early April after falling by about 4 percent in 2024Q1 (q/q), to a level 9 percent lower than a year earlier.
Both wheat and maize prices hit three-year lows during the quarter, with the downtrend continuing in early April. The decline in maize prices was attributed to competitively priced offers from the Black Sea region, larger production in major exporters, and favorable prospects for the next harvest, with global maize production in the 2023-24 season expected to increase by 6 percent to an all-time high. Downward pressure on wheat prices derived from robust exports from Russia nd Ukraine and the second-highest global production on record in 2023-24. The collapse of the Black Sea Grain Initiative had minimal fallout, as Ukraine has so far been able to continue
exporting via seaborne corridors and new overland routes.
pap.pl | Farmers' protest action in front of the Grebennoye checkpoint has ended, 29 Apr
"I didn't agree to another protes. Among the reasons are losses incurred by merchats, customs agencies and customs wharehouses. I understand frmers, but it is impossible for the residents of the municipality to constantly suffer," the mayor stressed.
The main demands of farmers are the elimination of the "Green Rate" and blocking the import of agricultural products fom Ukraine.
S&P Global | Polish manufacturing downturn reaches two-year mark in April, 2 May
Polish goods producers remained optimistic about the likelihood of higher output in the next 12 months. A number of firms were hopeful of a recovery in market conditions and higher exports. That said, growth forecasts were the weakest in six months and below the long-run trend.###
pap.pl | Poland's GDP growth is expected to reach 2.9 percent this year, while inflation is expected to reach 3.9 perceent, 2 May OECD forecast
by Cat on Thu May 2nd, 2024 at 08:30:45 PM EST
[ Parent ]
bloomberg | Global Food Roundup: Fears over Higher Prices and Unfair Trade, 10 May illustrated
...Bad weather and war are threatening to keep the world's wheat supplies under strain. Bumper Black Sea harvests have long kept a lid on prices and wheat is trading at half its record set in 2022, but futures have rebounded to hit the highest since August and funds are trimming bearish bets that they've held for almost two years....
ibid worldbank corn, wheat prices
ChatGPT | US plans to impose major new tariffs on EVs, other Chinese green energy imports, 10 May "competition"
Tariffs on electric vehicles, in particular, could quadruple—from the existing 25% to 100%. The plan was described by the people on condition of anonymity because they were not authorized to provide details ahead of a formal announcement. The tariffs, expected to be announced Tuesday [14 May], come as officials across the Democratic administration have expressed frustration over China's manufacturing "overcapacity" of EVs and other products that they say pose a threat to U.S. jobs and national security.
yahoo! bloomberg | China's EV Exports to EU Slump at Start of Year Amid Probe (26.03.24)
Tuesday's announcement is expected to keep in place some tariffs that were imposed during Trump's administration, covering about $360 billion in Chinese goods. The new tax on imports would add products such as Chinese syringes and solar equipment.
archive Jan 11th 2020

reuters | Biden set to impose tariffs on China strategic sectors, source says, 10 May

Details on the precise value or categories of tariffs that would be imposed were sketchy, but the administration was said to have zeroed in on areas of interest within strategic competitive and national security areas, the person said.
In 2022, Biden launched a review of the Trump-era policy under Section 301 of the U.S. trade law. Last month, he called for sharply higher U.S. tariffs on Chinese metal products. The Biden administration has also been pressuring neighboring Mexico to prohibit China from selling its metal products to the United States indirectly from there.
GT | Even higher tariffs cannot protect the US automotive industry, 12 May
The White House declined to comment. The US side is currently reviewing the tariffs on Chinese goods imposed during the Donald Trump era. Chinese new energy products represented by EVs have garnered particular attention. However, it's generally believed that considering the "almost zero" number of EVs exported from China to the US, even if the new tariffs are implemented, they are unlikely to immediately impact Chinese electric car companies. What the US will do next matters more about a portrayal of its own national reputation.
Some analysts believe that in addition to domestic political considerations, if the US really imposes high tariffs, it also intends to put pressure on the EU at this moment. Some former US government officials also stated that they want to involve developing countries such as Brazil and India with the US to do so.
scmp | China's EV makers, unfazed by US, European export curbs, will push overseas vehicle shipments to new heights (06.05.24)
Looking at it from a different perspective, can high tariffs and trade barriers really protect the US automotive industry? The US steel industry is a case in point. As early as 2017, when the US issued anti-dumping and countervailing duty orders on imports of stainless steel sheet and strip from China, the Global Times pointed out in an article that China's steel exports to the US are insignificant, and the root of the US steel industry's problems lies not in so-called "unfair competition" or lack of sufficient protection, but in its long-standing monopoly position and lack of emphasis on relying on technological progress to improve production efficiency.
archive Laggards in Electric Vehicles
by Cat on Sun May 12th, 2024 at 10:51:09 PM EST
[ Parent ]
by Cat on Thu May 16th, 2024 at 11:12:59 PM EST
[ Parent ]
Is the EU already in a trade war with China?, 28 May luxury goods redux
But that's not all, is it?
Absolutely, the EU has launched probe after probe this year. With the latest investigations into steel pipes, the food additive essential amino acid lysine and the taste component food additive vanillin, the count stands at no less than 13. None are as high-profile as the electric vehicle case, but that doesn't mean Beijing won't take notice.
tron.trade.ec.europa.eu | Trade defence investigations: Case AD708 - Vanillin
Countries investigated: People's Republic of China
Timeframe and key steps: intiation, provisional, definitive
archive We cannot change the geology in Europe

What is Vanillin in Food? Types, Production, Uses, and Differences with Vanilla extract
"Vanillin, with the chemical formula C8H8O3, is the world's most used flavoring agent in food and beverages. It is the vanilla extract alternative that provides a similar smell and taste of vanilla extract. It is both naturally occurring and synthetically produced."

Nielsen Massey, "2023 vanilla bean crop report"
Madagascar, Comoros, Uganda, Indonesia, Tahiti, Mexico, other Growing Regions (Papua New Guinea, Tanzania, Ecuador, Honduras, Costa Rica, Haiti, Nicaragua)
"The Madagascar 2023 vanilla crop is expected to be one of the best harvests in the last two decades, forecast at 2500 tons with exceptionally high quality. Unfortunately, only 1400 tons were exported from the 2022 harvest, which has led to an oversupply situation."

Trade defence investigations: Case AD706 - Lysine
Countries investigated: People's Republic of China
Timeframe and key steps: intiation, provisional, definitive
archive our companies are excluded from foreign markets

Mount Sinai Health Library, Lysine
"naturally occurring "

PubChem, Lysine (Compound)
uses and manufacturing viz. EUR-LEX classification, European Chemicals Agency (ECHA)

Journal of Industrial Microbiology and Biotechnology, Expanding lysine industry: industrial biomanufacturing of lysine and its derivatives, 2018 RoW
"L-Lysine is widely used as a nutrition supplement in feed, food, and beverage industries as well as a chemical intermediate. At present, great efforts are made to further decrease the cost of lysine to make it more competitive in the markets. Furthermore, lysine also shows potential as a feedstock to produce other high-value chemicals for active pharmaceutical ingredients, drugs, or materials.

by Cat on Tue May 28th, 2024 at 01:15:31 PM EST
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Industrial production up by 0.6% in the euro area and by 0.2% in the EU, 15 May
Down by 1.0% in both the euro area and the EU compared with March 2023

In March 2024, compared with February 2024, seasonally adjusted industrial production increased [MoM] by 0.6% in the euro area and by 0.2% in the EU, according to first estimates from Eurostat, the statistical office of the European Union. In February 2024, industrial production grew by 1.0% in the euro area and by 0.9% in the EU.

In March 2024, compared with March 2023, industrial production decreased [YoY] by 1.0% in both the euro area and the EU.

by Cat on Thu May 16th, 2024 at 11:56:58 AM EST
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whitehouse.gov | Readout of National Security Advisor Jake Sullivan's Meeting with Foreign Minister Diana Mondino and Chief of Cabinet Nicolás Posse of Argentina, 17 May
...The National Security Advisor also congratulated Argentina on the recent purchase of F-16s from Denmark, and discussed further opportunities to deepen our security and defense partnership.

Additionally, they discussed ways to bolster cooperation to address important regional and global challenges, including ongoing efforts to increase humanitarian aid to Gaza and secure a ceasefire and hostage deal that would bring hostages home, including those from the United States and Argentina. ...

archive April Bidenecómicas!
by Cat on Sat May 18th, 2024 at 07:34:44 PM EST
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euronews | Argentinian President speaks at Spain's far-right conference in Madrid, 19 May
Hundreds of protesters were gathering in Madrid on Sunday to protest against the Argentinian president Javier Milei on the second day of his three day visit to Spain.
In a speech at the Vox conference, Argentine President Javier Milei advocated for ending state welfare, stating, "We must destroy this parasitic idea of the West, that politicians have to take care of the citizen from the cradle to the grave," and adding, "Social justice is always unfair."
by Cat on Sun May 19th, 2024 at 06:06:57 PM EST
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bbc | US blacklists seven Chinese supercomputer groups (0.04.21)
On Thursday, three companies and four branches of China's National Supercomputing Center were added to the US Entity List. The US commerce department said the groups were involved in building supercomputers used by Chinese "military actors" and facilitating programmes to develop weapons of mass destruction.

timesofindia | 'These countries are most vulnerable to sanctions', 19 May

The research,conducted in early 2024 at China's National Supercomuting Center, tested the resilience of 19 ["]global economies["] to large-scale economic sanctions using mathematical modeling. Analysts assessed the direct gross domestic product (GDP) lossess each country would suffer if faced with a complete trade blockade without the option of parallel imports, a Russia Today report said.
NBER, A portrait of U.S. factoryless goods producers (2018)
The study revealed that while all countries would see economic contraction under such a scenario, some would be hit harder than others. The German economy would be the worst affected, contractin by 8.1%. Other significanly impacted economies include South Korea (down by 7.9%), Mexico (7.2%), France (7%), Turkiye (6.6%), Italy (6%), and the UK (5.7%).
census.gov, The Changing Firm and Country Boundaries of US Manufacturers in Global Value Chains (2023)
In contrast, Russia would be among the three most resilient countries, with its economy shrinking by no more thatn 4.5%. China would see a 3.2% decline in GDP, while the US would experience a 2.3% drop. Analysts attributed the resilience of the American, Chinese, and Russian economies to their Composite Index of National Capability, which includes significant natural resources, [financial assets,] human capital, scientific prowess [IPR], and military [marketing] potential.
What Is Import Substitution Industrialization? local vertical integration
archive 30 December 2022 price cap mania, 20 January 2023 price cap mania
by Cat on Mon May 20th, 2024 at 01:09:41 AM EST
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