Outgoing Stoltenberg is still laying mines for the world
Global Times | June 19, 2024
NATO Secretary General Jens Stoltenberg is about to leave his post, and the upcoming NATO summit to be held in the US next month will be his farewell tour, if nothing else. In the past two days, Stoltenberg went to Washington to warm up for the upcoming summit, at the same time showing off some of his own “achievements” to leave some political legacy for the past nine years in his post as NATO Secretary General. He touted that 23 of the 32-member bloc have met the target of spending 2 percent of GDP on defense, while revealing that NATO is discussing the deployment of more nuclear weapons. Stoltenberg’s remarks, which make the world feel great concerns and threats, are said with easiness and even great excitement. The NATO chief also continued to threaten China, saying that China cannot “have it both ways” between the West and Russia and that if it does not change course, “there should be consequences.”
In his nine years in office, the world saw the prolonged Syrian civil war, and the outbreak of the Russia-Ukraine conflict, as well as the Israel-Palestine conflict. The role of NATO, a product of the Cold War and the world’s largest military bloc, in the conflicts of such magnitude, is dishonorable. The Ukraine crisis, in particular, caused by the bloc’s eastward expansion, plunged Ukraine into war, further tore Europe apart, and brought NATO back to life. Even within the US and Europe, there has been harsh criticism and warnings about this.
Yet, Stoltenberg is not satisfied, as he continued to call on the West to supply more weapons to Ukraine on Monday in Washington, claiming it is the “path to peace.” Even he cannot justify it, admitting that this “may seem like a paradox.” This is Stoltenberg’s way of covering up his attempts at war and culpability, as well as the way of NATO as a whole: to create conflicts in the name of preventing crises and to exacerbate catastrophes in the name of managing crises. As one Western scholar summarized, invasion has been hailed as “humanitarian intervention,” coup d’état as “democratic revolution,” regime subversion as “democracy promotion,” gunboat diplomacy as “freedom of navigation,” military bloc expansion as “European integration,” and domination as “negotiation from a position of strength.”
Under Stoltenberg’s leadership, NATO has also been attempting to interfere in the Asia-Pacific region, aligning with the strategic direction of the US, and promoting “NATO’s Asia-Pacificization.” Although such attempts have encountered resistance from the majority of countries in the Asia-Pacific region, and thus remain limited to a small circle of US allies, regional countries must not be negligent. The desire of regional countries to maintain the regional peace and development does not mean that NATO has no intention of creating discord. NATO’s own history has proved that it strengthens its functions through crisis creation. Since it now intends to enhance its presence and functions on a global scale, it inevitably has to create larger crises.
On this point, insightful individuals internationally, including those in Western countries, have long provided incisive summaries. Organizations like NATO have interfered in nearly all wars and conflicts since its foundation, consistently exporting war and only bringing more problems. In the cycle of seeking enemies, creating crises, and extending its existence, NATO aims to make China the latest target. In recent years, NATO summit declarations have increasingly mentioned China, and provocative actions against China have become more frequent. Particularly, Stoltenberg himself has repeatedly issued threats this year, demanding that China must choose sides between the West and Russia. In February alone, he created a notable scene during his US visit by making seven provocative statements about China in six days. His speeches are filled with confrontational language and echoes of the Cold War. Given that some political elites in the US and Europe frequently champion moral causes such as “opposing coercion” and “defending peace,” they should feel embarrassed by Stoltenberg’s remarks.
Stoltenberg’s strenuous efforts to perform and use various occasions to promote the “China threat” narrative indirectly indicate that this task is difficult. China consistently participates in international affairs as a responsible major power, pursuing peace and bringing opportunities. Even within NATO, China is one of the main trading partners for the majority of its 32 member countries. This is one of the reasons why NATO labels China as a “systemic challenge.” For a war-dependent entity like NATO, a China that follows a path of peaceful development naturally becomes a “challenge.”
This year also marks NATO’s 75th anniversary. Stoltenberg’s warmongering rhetoric is the best commentary on the role NATO has played over the past 75 years. If Stoltenberg leaves any legacy during his term, it is conflict and war. People should be particularly wary of Stoltenberg’s promotion of the “threat narrative.” History has repeatedly shown that such rhetoric always runs counter to peace, development, and prosperity. The louder NATO’s voice becomes, the more vigilant peace-loving people should remain.
NATO chief says China should be punished
RT | June 18, 2024
NATO Secretary-General Jens Stoltenberg has called for making China pay a price for allegedly propping up Russia’s military campaign in Ukraine, saying Beijing is “fueling” the conflict by supplying microelectronics and other key components to Moscow.
“The reality is that China is fueling the largest armed conflict in Europe since World War II,” Stoltenberg said on Monday in a speech at the Wilson Center in Washington. “At the same time, it wants to maintain good relations with the West. Well, Beijing cannot have it both ways. At some point, unless China changes course, allies need to impose a cost.”
Stoltenberg has repeatedly attacked China since the Ukraine crisis began in February 2022, arguing that Beijing was enabling Russia to fight against Kiev, a “European friend” of NATO. He has made such comments even as NATO states prolonged the conflict by providing hundreds of billions of dollars’ in economic and military aid to Ukraine.
Monday’s rebuke marked some of his most pointed criticism yet, suggesting that NATO may ramp up sanctions against China. He also called out North Korea and Iran for being supportive of Russia’s defense-industrial complex.
Stoltenberg reiterated an assertion that NATO – a military bloc originally formed against the Soviet Union – needs to get more involved in the Indo-Pacific to counter the “growing alignment between Russia and its authoritarian friends in Asia.” He noted that he invited the leaders of Japan, South Korea, Australia and New Zealand to next month’s NATO summit in Washington to work together on upholding the “international rules-based order.”
China is providing Russia with semiconductors and other key technologies with military applications, including parts needed to make missiles and tanks, Stoltenberg said. He added that Beijing also has supplied Russia with improved satellite and imaging capabilities. “All of this enables Moscow to inflict more death and destruction on Ukraine, bolster Russia’s defense-industrial base, and evade the impact of sanctions and export controls.”
The NATO chief also spoke of his China concerns in an interview with the BBC on Monday. Asked about what the Western military bloc might do about the issue, he said there was an “ongoing conversation” about possible sanctions. “At some stage, we should consider some kind of economic cost if China doesn’t change their behavior,” he said.
Beijing has repeatedly defied demands from the US and other NATO nations to join in sanctioning and isolating Russia. Chinese leaders have pushed a peace plan to end the fighting and have pointed out that Russia’s legitimate security concerns cannot be ignored.
Earlier this year, the Chinese Foreign Ministry denounced NATO as a “walking war machine that causes chaos wherever it goes.” Beijing has accused NATO of meddling in Asian affairs, saying the bloc is a “terrible monster” and has extended a “black hand” toward the region.
US Boosted Nuclear Arms Spending by 18% in 2023, Record Among Nuclear States – Report
Sputnik – 17.06.2024
The United States last year increased spending on nuclear weapons by 18%, which is the highest rate among all nine countries possessing nuclear weapons, the International Campaign to Abolish Nuclear Weapons (ICAN) said on Monday.
US alone spends on nukes more than all other nuclear-armed states, the report read.
“[In 2023] Every country increased the amount it spent on nuclear weapons. The United States had the biggest increase, at nearly 18%. The United States spent more than all the other nuclear-armed states combined, at $51.5 billion. China surpassed Russia as the second-highest spender at $11.9 billion, and Russia came in third, spending $8.3 billion,” the ICAN said in a report, adding that the United Kingdom also significantly increased its nuclear spending for the second year in a row.
In 2023, the US, the UK, China, France, India, Israel, North Korea, Pakistan and Russia spent a total of $91.4 billion developing their nuclear arsenals, which is $10.8 billion or 13.4% more than in 2022, the ICAN also said.
“In 2023, twenty companies working on nuclear weapons development and maintenance earned at least $31 billion for this work. There are at least $335 billion in outstanding nuclear weapons contracts to these companies, some of which have continued for more than a decade. In 2023, at least $7.9 billion in new nuclear weapon contracts were awarded,” the report read.
ICAN, a coalition of civil society organizations in over 100 countries, was founded in Melbourne, Australia in 2007. The coalition promotes adherence to the Treaty on the Prohibition of Nuclear Weapons. In 2017, it received the Nobel Peace Prize for its efforts.
Earlier, experts explained to Sputnik that recent Minuteman III launches are a regular audit of the strategic forces rather than nuclear saber-rattling.
EU now at a crossroads: Reform or self-destruction
By Martin Jay | Strategic Culture Foundation | June 13, 2024
The EU has just experienced a monumental change, following years of failed immigration policies, which has ushered in a massive number of far-right MEPs in the more powerful EU member states. It’s too early to say whether this will make too much of a change to policy decisions at the highest echelons of the European Union but certainly the European Parliament itself is, possibly for the first time ever, going to be an interesting place with now a quarter of all of the 720 MEPs coming from far-right groups.
Traditionally most people who voted in EU elections were stalwart supporters of the project and the ethos of one Europe united by a policy of free movement of goods, services and people and, for many, a single currency. The few who voted against the mainstream parties – the main bloc made up of Christian democrats and socialists – were those who wanted to use their vote as a throw-away gesture to send a signal to their own elites that they want change. That protest vote in the past was always very small as the EU elite in Brussels always benefited from a voting system which was tilted in their favour. But no more.
The European Parliament, which most sceptics considered to be a fake assembly whose only real role is to rubber stamp draft legislation from either the powerful European Commission or member states (via the European Council), could now become suddenly relevant to the whole project. For the last five years, there has only been two Irish MEPs to take the floor and tackle the European Commission head on, on its genocide in Gaza or its phoney war in Ukraine. But now something like 180 MEPs will use their two minutes speaking time to tackle the commission on its failed foreign policy, immigration and trade deals with China, for example. The Ukraine war could be a central theme which will probably be a thorn in the side of the European Commission and its chief – whoever that might be as, despite supporting statements from the Christian Democratic group in the European parliament, it is not a certainty that Ursula von der Leyen will return as Commission chief.
If she succeeds and stays on as EU Commission president, she will have a tough time in parliamentary plenary sessions as Europe’s biggest countries – who pay the most into the EU budget – have picked up the most far-right seats. Marine Le Pen’s Rassemblement National scored the most decisive victory, winning 30 of the country’s 81 seats, and more than double the votes of President Emmanuel Macron’s Renew party. That political slaughter pushed Macron to call a snap election. Italian Prime Minister Giorgia Meloni’s Brothers of Italy won 24 seats and increased her share of the national vote, and the Alternative for Germany (AfD) came second in Germany and snapped up 15 seats. Presently the AfD doesn’t have a pan-European group to align itself to and, under EU rules, benefit from huge amounts of cash from the EU parliament as it was kicked out of one of the two ‘groups’, prompting fears that it will create one itself and invite others to join it. In the European parliament both France’s and Italy’s far-right MEPs are in different groups, but in reality, when it comes to voting, for sure there will be a unified policy on most issues which will give them leverage with the European Commission that we have never seen in the short history of the EU.
It’s important to note that far-right parties topped the polls in Austria and Hungary, too, with important gains in Spain and Cyprus. All of these countries have one thing in common: real immigration problems which neither the mainstream political groups nor the EU has addressed.
But the real issue is the identity and survival of the European Union itself as this shake-up is certainly going to threaten the traditional power structure. Ursula von der Leyen represents the old guard and everything which is wrong with the EU: deluded, outdated views run by elitists who believe the only solution to the EU’s power problem is to take more. Unlike President Macron who wisely stated to the press that the far-right votes were a message which he is listening to, von der Leyen’s statements were more about fighting the new threat.
The G7 loses ground to BRICS
Losers
BY M. K. BHADRAKUMAR | INDIAN PUNCHLINE | JUNE 13, 2024
One hidden transformation of the international system in the most recent years has been the hijacking of the G7 by Washington as its ‘kitchen cabinet’ in the transatlantic system. The G8’s ‘shrinkage’ to G7 in March 2014 following the coup in Ukraine was a defining moment that signalled that there wasn’t going to be any post-cold war peace dividend. The G7 that was conceived as a group of countries charioting the world economy ended up as the vehicle of big-power rivalry to preserve the US’ global hegemony. Isolating Russia — and lately, China, too — became its leitmotif.
With the failure of the western project to isolate Russia, the G7 is meandering and lost its sense of direction. Italy, the G7 summit’s rotating host this year, has made AI a key issue in the summit. And Prime Minister Giorgia Meloni invited by an unlikely guest, the pontiff, to make an unprecedented appearance at the G7 event at the fashionable Italian hotel Borgo Enyatia to advocate for the regulation of artificial intelligence, a technology he’s called potentially harmful. Pope Francis was a chemist prior to entering seminary and will apparently draw on his scientific training to inform his stances. Italy under Meloni’s leadership has increasingly scrutinised AI technology, and temporarily banned ChatGPT in March 2023, becoming the first western country to do so.
Equally, G7 is desperate to go beyond a closed elite club of Western democracies by piloting an ambitious outreach and issued an unusually long list of invited leaders of the non-Western world to the summit. Aside Ukraine, Meloni has invited the leaders of India, Brazil, South Africa, Turkey, Saudi Arabia, Argentina, Algeria, Kenya and Mauritania to attend the meeting. What was the logic applied is impossible to tell.
But this is realpolitik and G7 is hoping to bridge the ‘West vs. the Rest’ hiatus in the line-up over the Ukraine crisis. In fact, the ‘outreach guests’ will witness tomorrow the nail-biting finale of a geopolitical drama, which forms the core of the G7 summit — the months-long attempt by the group’s leaders to make a decision on using dividends from frozen Russian assets for Ukraine’s military needs.
To recap, as part of the West’s ‘sanctions from hell’ against Russia in 2022, the European Union, Canada, the US and Japan froze Moscow’s assets in the western banks to the tune of $ 300 billion. (Some say, the actual figure is closer to $400 billion.) Only about $5-6 billion is located in the US, while $210 billion is stored in Europe, but the decision to use the proceeds from Russian assets was initiated by Washington with a hidden agenda to make Europe pay for the war’s consequences.
Unsurprisingly, the European members and Japan opposed the US pressure to include a provision on the use of income from frozen Russian assets in the joint G7 statement to be adopted. CNN reported on Monday that American officials are still trying to agree on the “most sensitive financial details” of the plan for Russian assets, since the G7 countries are yet to come to a consensus and discussions are continuing as regards “the exact form of providing assistance, as well as guarantees for the return of these funds.”
That said, don’t be surprised if the recalcitrant Europeans ultimately fall in line. There is no question that the G7 move to appropriate Russian money in western banks was bad enough but to use the profits out of them to fund the needs of Ukraine is, to put it mildly, an act of brigandage.
The US gains if the current freeze in Russia-Europe ties reaches a point of no return, as Europe is sure to bear the brunt of Moscow’s retaliation. If the G7 adopts such a move, it will weaken the global financial system. By brazenly violating international law, the G7 will be setting a precedent that undermines confidence in European institutions.
It will be interesting to see how the G7 leaders explain to the ‘outreach’ countries, drawn largely out of BRICS, that Russia is an exception and such a practice will not one day be used against India, Turkey, Saudi Arabia or some other state.
To be sure, the spectre of the 16th summit meeting of BRICS at Kazan (16-18 October) under the chairmanship of Russian President Vladimir Putin haunts the G7. Moscow has let it be known that if the past three years ended with the expansion of the BRICS, the new phase going forward will ensure that the participants in an expanded format create a viable structure in which the member countries work purposively to develop a viable structure.
An important topic at the BRICS summit meeting in Kazan will be the creation of a single currency within the grouping, which will significantly simplify and expand the economic relations of the member countries against the backdrop of mounting pressure from the West.
Speaking at the SPIEF conference in St. Petersburg last week, Putin announced that such an independent payment system would be created. Foreign Minister Sergey Lavrov later confirmed that a platform for payments in national currencies is being developed.
The BRICS countries have realised that the creation of a single currency has become a necessity today due to the ongoing sanctions from the US and the European Union. Lavrov noted that “recent international events have thrown off the masks” of the West, which has tried to impose its own values on other countries under the guise of universal ones and replace equal dialogue with “narrow coalitions” that assign the right to speak on behalf of the whole world.
BRICS, Lavrov underscored, implies a completely opposite type of partnership — that is, anything but a bloc structure, and on the contrary, a fundamentally open format, which involves working only in those areas that are of mutual interest to all participants, big and small. Reports suggest that around 30 countries have sought BRICS membership.
Meanwhile, in ‘systemic’ terms, G7 is entering uncharted waters. Far-right parties are storming the power centres of Europe. With an eye on the G7 summit, Politico wrote:
“Dream on. The G7 summit in the southern Italian coastal resort of Borgo Egnazia features arguably the weakest gathering of leaders the group has mustered for years. Most of the attendees are distracted by elections or domestic crises, disillusioned by years in office, or clinging desperately to power.
“France’s Emmanuel Macron and Britain’s Rishi Sunak are both fighting snap election campaigns they called in last-ditch efforts to reverse their flagging fortunes.
“Germany’s Olaf Scholz was humiliated by far-right nationalists in last weekend’s EU Parliament election and could soon be toppled himself.
“Justin Trudeau, prime minister for nine years in Canada, has spoken openly about quitting his “crazy” job.
“Japan’s Fumio Kishida is enduring his lowest personal ratings ahead of a leadership contest later this year.
“And then there’s Joe Biden.
“The 81-year-old U.S. president’s son, Hunter, was found guilty of gun charges on Tuesday, barely two weeks before his father’s first crucial debate with a resurgent Donald Trump in a presidential campaign the Democrat is in serious danger of losing.”
Above all, the angst in the European mind is palpable that if Trump wins in a democracy-altering climax in the November election, he may not even have time or patience to tolerate an archaic forum like G7. Surveying the bleak landscape, it comes as no surprise that Meloni took matters in her hands and decided to use the summit to her purposes by designing an agenda that cleaved to Italy’s strategic interests — Africa, migration and the Mediterranean.
US using Ukraine conflict as pretext to impose sanctions – China
RT | June 13, 2024
The US is using the Ukraine crisis as an opportunity to impose sanctions while continuing to pump Kiev with weapons, Chinese Foreign Ministry spokesman Lin Jian said on Thursday.
Lin made the remarks after the US State Department and Treasury Department announced a new round of curbs on Wednesday targeting 300 additional individuals and entities in Russia and other countries, including China, Türkiye, and the UAE. In particular, Washington has sanctioned China-based companies which are selling semiconductors to Moscow.
According to the Treasury Department, the latest measures target more than $100 million in trade between Russia and foreign partners suspected of enabling Moscow to evade Western embargoes.
The Chinese diplomat called Washington “extremely hypocritical and overbearing” for supplying Ukraine with weapons while pushing for peace.
“We urge the United States to immediately stop abusing illegal unilateral sanctions, and focus on ceasefires, stop wars, restore peace, and play a constructive role,” he said at a regular news briefing.
Beijing had previously accused the US and its allies, which together supply the bulk of Kiev’s military equipment, of hypocrisy, stating that Western powers should work on bringing Russia and Ukraine to the negotiation table, instead of “shifting the blame” onto China for the continued hostilities.
Earlier this week, China said it remains firmly opposed to the sanctions, noting it would safeguard the rights and interests of its companies and citizens. Beijing has urged Washington to stop smearing China and “lift illegal unilateral sanctions” on its businesses.
Beijing has adhered to a policy of neutrality with regards to the Ukraine conflict, and has firmly rebuffed Western calls to impose sanctions on Russia, opting instead to boost trade with its neighbor. This has led to accusations from the UK and its NATO allies that Beijing is fueling Russia’s military effort by supplying it with dual-use components that can be utilized in weapons production.
Among the latest steps, the US Treasury said it was raising “the risk of secondary sanctions for foreign financial institutions that deal with Russia’s war economy,” effectively threatening them with losing access to the American financial system.
The Chinese foreign ministry has repeatedly stressed that economic and trade cooperation between China and Russia “will not be disrupted by any third party.”
Annual trade between the bordering countries surpassed $240 billion last year, according to official data.
EU “playing a dark game” and serves “sinister” interests of US
By Ahmed Adel | June 13, 2024
The European Union’s reaction to the conflict in Ukraine indicates that the bloc does not pursue the peaceful objectives that were the basis of its creation, writes columnist Javier Melero for the Spanish newspaper La Vanguardia. At the same time, European authorities are in negotiations to maintain the flow of gas through the important Russia-Ukraine pipeline, once again showing that Europe is committing economic suicide with its failed sanctions policy on Moscow.
“War has returned to Europe, and it would be appropriate to ask after the post-election euphoria how the EU reacts to the Russian-Ukrainian conflict,” Melero wrote.
By asking this question, the author emphasises that in public discussions in Europe no other option for resolving the conflict is considered, except “Russia’s unconditional surrender.” Based on this, he concludes that the EU does not act in accordance with declared peaceful objectives but serves the “sinister” interests of NATO and the USA.
“It seems to me that something doesn’t add up here and that Europe is playing a dark game. And these games, what’s even worse, end badly for it. And the conflict in Ukraine seems to be no exception,” concluded Melero.
Yet, even as the EU does not prioritise peace to instead serve Washington’s interests, the bloc is unable to wean itself off Russian energy, a demonstration that the economies and prosperity of the European continent is intrinsically interconnected and that the US-led sanctions have only had a boomerang effect. For this reason, European authorities are desperately in negotiations to maintain the flow of gas through the Russia-Ukraine pipeline even if the bloc tried to end Russian shipments.
The agreement covering this gas transit exchange expires at the end of this year, and with the ongoing Ukrainian conflict, most market watchers expect the flow to finally stop. However, European government and business officials are talking to their counterparts in Ukraine about how to maintain the flow of gas next year, according to people familiar with the matter interviewed on condition of anonymity by Bloomberg.
At the same time, one option that has been discussed is for European companies to buy and inject Azerbaijani gas into Russian gas pipelines bound for Europe, according to some sources. A plan to use Azerbaijani gas could, in theory, benefit Russia if it were set up as an exchange that would allow Moscow to ship its gas elsewhere.
Negotiations are in their early stages, and people familiar with the matter expect decisions only later this year, when the expiry date — and the onset of European winter — add pressure. Russia still sends around 15 billion cubic metres of gas a year to Europe , mainly to Slovakia and Austria, where Moscow is still a dominant supplier.
In Austria, Russian gas covered more than 80% of Austrian consumption for five consecutive months. Europe also imports Russian liquefied natural gas (LNG) by ship and, despite frequent debates about whether it should do so, has never sanctioned Russian gas.
The European Commission, the executive arm of the European Union, believes that the bloc can resist the end of Russian transit through Ukraine without any major security risk, but some member states are less optimistic and fear a repeat of the energy crisis, writes Bloomberg.
Whilst Europe worries about another energy crisis, Russian revenues from oil and gas exports increased by 82.2% in the period between January and April, compared to the same period in 2023, reaching more than 4.2 trillion rubles. The growth comes despite sanctions imposed on Russia since the launch of its military operation in Ukraine in 2022, including an embargo on Russian oil transported by sea and a $60 per barrel price cap on other types of oil.
Moscow has repeatedly expressed its readiness for peace negotiations, but the Kiev authorities have introduced a ban on them at the legislative level. At the same time, the West ignores Kiev’s constant refusals to dialogue and instead encourages the continuation of war, even as Ukraine loses more territory and experiences a demographic collapse as millions have fled the country and hundreds of thousands are being killed in a futile war against Russia.
But as Melero highlighted, US-led NATO only has “sinister” designs. These designs can only be detrimental to European interests, making the complete servitude to Washington all the more bizarre, especially since before February 2022, French-led Europe spoke a brave game of European strategic autonomy from the US. The first opportunity to test Europe’s pursuit for strategic autonomy showed that this was only lip work by French President Emmanuel Macron and that ultimately the EU is the biggest loser in the Ukraine conflict after Kiev itself, and not Russia or even the US.
Ahmed Adel is a Cairo-based geopolitics and political economy researcher.
Intel halts construction of multibillion chip plant in Israel
The Cradle | June 11, 2024
The US-based chip giant Intel Corp is halting a $25 billion chip manufacturing project in Israel, Calcalist reported on 10 June.
The Israeli news agency writes that Inte,sl decision to stop building of the multibillion-dollar factory came after “Intel’s suppliers received in recent days notice of the cancellation of contracts for the supply of equipment and materials required for the establishment of the company’s new factory.”
The plant was announced in December of last year and was expected to be built in Kiryat Gat, just shy of 60 kilometers from Tel Aviv.
The Calcalist report states Intel said in response that Israel continues to be one of the technology company’s “key global manufacturing and [research and development] sites, and we remain committed to the region.
“As mentioned previously, the scope and rate of expansion of Intel’s production at the company’s sites around the world depend on a number of changing factors,” Intel’s response read. “Managing a project of this magnitude, especially in our industry, usually involves schedule adjustments. Our decisions are based on business conditions, market dynamics, and responsible capital management.”
Since the beginning of the war in October of last year, Israel has suffered economic consequences at the hands of the Palestinian resistance.
Venture capitalist investments in Israel peaked in 2021 at $29 billion, but as of 2024, foreign investment has sunk to around $5 billion.
Chief of Israel’s central bank, Amir Yaron, said in May that Israel’s current war costs amount to $70 billion of the Israeli 2025 budget.
“There is no doubt that more expenses will be needed since the economy needs security, and security needs the economy. However, it is important to emphasize – you cannot give an open check on the issue of security spending, you must find the right balance between things,” Yaron said.
Foreign investment by way of defense contracts has been slashed due to Israel’s actions in Gaza.
Earlier this year, Samsung Next decided to close its operations in Israel and focus on other projects abroad. The innovation branch of Samsung has over 70 investments in Israel.
In February, The Japanese Itochu corporation’s aviation unit cut strategic contracts signed with Israel’s Elbit Systems Ltd.
Also in February, Belgium’s Walloon Region suspended two ammunition export licenses to Israel following pressure from rights groups. Later that same month, The Netherlands decided to halt deliveries of F-35 fighter jet parts to Israel, citing the same reasons.
Scholz and Macron belong to ‘ash heap of history’ – Medvedev
German Chancellor Olaf Scholz and French President Emmanuel Macron should abandon politics after their respective parties suffered damaging setbacks in the European Parliament elections, former Russian President Dmitry Medvedev believes.
Scholz’s center-left Social Democratic Party (SPD) is projected to finish third in the key ballot, behind the center-right Christian Democrats and the right-wing Alternative for Germany (AfD).
Macron’s Besoin d’Europe coalition is expected to win less than half of the votes received by the right-wing National Rally party associated with Marine Le Pen, prompting the French president to call a snap parliamentary election after preliminary results emerged on Sunday.
In a social media post on Monday, Medvedev claimed the outcome proves that Scholz and Macron are “respected by no one.” The former Russian leader linked the poor performance at the ballot box with the “idiotic economic and migration policy” pursued by the two leaders and their support for Ukraine “at the cost of [their] own citizens.”
“Time to retire. To the ash heap of history!” said Medvedev, who currently serves as deputy chair of the Russian Security Council.
Vyacheslav Volodin, the speaker of the lower chamber of the Russian parliament, earlier called on Scholz and Macron to resign and to “stop victimizing the citizens of their states.”
Officials in Moscow have accused leaders of EU nations of betraying the interests of their populations in favor of US geopolitical goals. Responding to the Ukraine crisis in 2022, the bloc vowed to support Kiev militarily for “as long as it takes,” and imposed an array of economic sanctions against Russia. Most notably, Brussels has pushed EU countries to stop buying Russian natural gas.
Large consumers such as Germany have struggled to substitute cheap Russian pipeline fuel with other sources, including renewables and expensive liquified natural gas. American LNG producers have since taken over a large share of the European market. A hike in energy prices has forced many energy-intensive businesses to either move out of the EU or shut down entirely.
Guardian withdraws cheap renewables claim
Net Zero Watch | June 4, 2024
The Guardian has been forced to withdraw an advertorial, paid for by National Grid, that purported to debunk ‘myths’ about clean energy.
Energy writer David Turver, who had formulated a detailed rebuttal,[1] submitted complaints to both the Guardian and the Advertising Standards Authority (ASA).
The Guardian’s response said that they did not think that there was any need to correct the article. However, the ASA appear to have taken more jaundiced view, and the article has now been removed from the Guardian website. As they told Mr Turver:
We have decided to resolve your complaint through the provision of advice to the advertiser. Therefore, we have explained the concerns raised to the advertiser and provided them with guidance on how to ensure that their advertising complies with the Codes both now and in future.
Mr Turver, who has written extensively on the relative costs of renewables and other forms of electricity generation,[2] said:
The Guardian piece was a mess of untruths and half-truths and attempted to paint the picture that renewables are cheap. Although the ASA seems to have avoided giving a ruling, the disappearance of the article suggests that they think any such claims are misleading.
Notes
[1] https://davidturver.substack.com/p/national-grid-propaganda
[2] https://davidturver.substack.com/p/debunking-cheap-renewables-myth
Building comprehensive, high-level China-Turkey ties in fundamental interests of both countries: Wang Yi
Global Times | June 5, 2024
Building a comprehensive, deep and high-level China-Turkey relationship is in the fundamental interests of both countries and peoples, Chinese Foreign Minister Wang Yi said while meeting with the visiting Turkish Foreign Minister Hakan Fidan on Tuesday.
During the meeting with Fidan, Wang, who is also a member of the Political Bureau of the Communist Party of China (CPC) Central Committee, said that China and Turkey are both ancient civilizations and important members of the G20, and are facing profound challenges in the changing international situation, so the two countries should strengthen communication and coordination to make positive contributions to promoting regional peace and global development.
Wang pointed out that building a comprehensive, deep and high-level China-Turkey relationship is in the fundamental interests of both countries and peoples. China firmly supports Turkey in continuing to explore an independent and self-reliant development path. It also supports Turkey’s efforts to safeguard sovereignty, security, and development interests, and appreciates Turkey’s understanding and support for China’s just position on core interests related to sovereignty, security, and territorial integrity.
China is willing to maintain multi-level exchanges with Turkey, play a good role in mechanisms such as the China-Turkey Intergovernmental Cooperation Committee, promote effective connection between the joint construction of the Belt and Road Initiative and Turkey’s Middle Corridor Initiative, expand cooperation areas, and explore cooperation potential.
China is willing to expand imports of high-quality agricultural products from Turkey, support the continuous improvement of cooperation levels and technological content of enterprises in both countries, and strengthen cooperation in culture, education, tourism, aviation, and other fields, Wang said.
Wang noted that both sides should strengthen coordination and cooperation within the framework of the United Nations (UN) and other multilateral frameworks, support the UN in playing a core role in the global governance system, oppose hegemonism and power politics, oppose a few countries monopolizing international affairs, oppose building walls and barriers, “decoupling” and “cutting off supply chains,” maintain the stable operation of the global supply chain and industrial chain, and promote the establishment of a fair and reasonable global governance system.
Fidan said that Turkey and China have important influence in their regions and globally. The Turkish government attaches great importance to its relations with China, adheres to the one-China principle, and supports China in safeguarding its core interests and major concerns.
China’s development is crucial to world peace and prosperity. Turkey opposes bloc confrontation, does not agree with or support erroneous actions that suppress China’s development, and does not allow any force to engage in activities on Turkish territory that harm China’s sovereignty and security, said Fidan.
The Middle Corridor Initiative is highly compatible with the Belt and Road Initiative, and Turkey is willing to cooperate closely with China to achieve more substantive results in trade, investment, finance, agriculture, tourism, education, and other fields through mechanisms such as the China-Turkey Intergovernmental Cooperation Committee.
Turkey and China are both emerging market powers and members of the G20, with broad common interests in upholding international fairness and justice. Turkey highly appreciates China’s fair and just position on issues concerning Ukraine and the Middle East, and looks forward to working constructively with China to make greater contributions to the prosperity and stability of the region and the world, said Fidan.
The two sides also exchanged views and coordinated positions on international and regional issues of common concern such as Ukraine crisis and Palestinian issue.
During the Tuesday meeting, both sides also agree that it is necessary to promote a ceasefire in Gaza and maintain peace and stability in the Middle East. The Palestinian issue is at the core of Middle Eastern issues. The Gaza conflict is currently the focus, and the priority is to achieve an immediate, comprehensive, and permanent ceasefire, improve humanitarian conditions, and release all detained individuals.
The two-State solution is the fundamental way to solve the Palestinian issue. Both China and Turkey support Palestine becoming a full member of the UN and support internal reconciliation in Palestine. China and Turkey will strengthen cooperation to jointly promote the early and comprehensive, fair, and lasting resolution of the Palestinian issue.
On the Ukraine issue, Wang said that China’s position is firm and consistent, and the aim is to promote peace and dialogue. Although the conditions for negotiations are not yet in place, China is committed to peace and will not stop its efforts. As long as there is a glimmer of hope, every effort must be made to strive for it.
Switzerland is hosting a “Summit on Peace in Ukraine” on June 15 and 16. China confirmed on May 31 that it will not attend the conference, as the meeting falls short of China’s requests, according to Chinese Ministry of Foreign Affairs spokesperson Mao Ning.
However, China encourages and supports all initiatives and efforts around the world that contribute to easing tensions and achieving peace, Wang said, noting that China values Switzerland’s work in preparing for the peace conference and has provided constructive suggestions to the Swiss side, which have been positively evaluated and appreciated.
Wang said China believes that the world needs to hear more objective, balanced, positive, and constructive voices on the Ukraine crisis. China and Brazil jointly issued a six-point consensus recently on promoting a political solution to the Ukraine crisis, emphasizing adherence to the three principles of cooling the situation: no spillover from the battlefield, no escalation of the conflict, and no provocation by any party.
The consensus also calls for all parties to adhere to dialogue and negotiations, increase humanitarian assistance, oppose the use of nuclear weapons, oppose attacks on nuclear power plants, and maintain the stability of the global industrial and supply chains.
Wang said that he had exchanged views with Fidan, who also welcomed and appreciated the six-point consensus.
Within just one week, 45 countries from five continents have responded positively to the six-point consensus in different ways, with 26 countries already confirming their participation or seriously studying how to join, Wang said, noting that Russia and Ukraine, the two main parties involved, have also affirmed most of the contents of the consensus.
This once again shows that the consensus meets the common expectations of most countries. China believes that the more people participate in the joint appeal, the greater the hope for cooling the situation and the smaller the risk of escalation of conflict, said Wang.
The more countries that support the six-point consensus, the brighter will be the prospects for peace. China sincerely welcomes more countries to support and join the consensus, said Wang.
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From the Archives
The New Baghdad Pact
By Dr Bouthaina Shaaban | February 23, 2017
A recently declassified CIA document prepared in 1983, and released on 20 January 2017, shows that the United States had at the time encouraged Saddam Hussein to attack Syria, which would have led to a vicious conflict between the two countries, thus draining their resources.
The report, which was then prepared by CIA officer Graham Fuller, indicates that the US tried adamantly to convince Saddam to attack Syria under any pretense available, in order to get the two most powerful countries in the Arab East to destroy each other, turning their attention away from the Arab-Israeli conflict. … continue
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