Malaysia tells US it doesn’t recognise sanctions imposed unilaterally
MEMO | May 9, 2024
Malaysia has told the US that it does not recognise sanctions imposed unilaterally by individual states, Interior Minister Saifuddin Nasution Ismail said today.
“I emphasised that we will only recognise sanctions if they are imposed by the UN Security Council,” added Ismail at an event after meeting with Brian Nelson, the top sanctions official of the US Treasury Department, Free Malaysia Today has reported. “The delegation from the US respected our stance.”
Nelson is in Malaysia reportedly to discuss issues related to funds being moved to Iran and its proxies, and funding for the Palestinian resistance movement Hamas from within the Malaysian financial sector.
The minister pointed out that Kuala Lumpur is committed to combating terrorist financing with a “clear strategic plan in place to tackle illicit funding and money laundering.” Moreover, he said that Malaysia’s policies and strategies “comply with international standards.”
The meeting came as the US said it was trying to prevent Malaysia from becoming a jurisdiction where Hamas could both fundraise and then move money. Washington also said that Iran’s capacity to move its oil was due to service providers based in Malaysia.
The minister, however, described his meeting with Nelson as “productive” and said that Malaysia was “always open to engaging with the US.”
EU agrees to tap Russian assets to arm Ukraine
RT | May 9, 2024
The European Union has agreed on the expropriation of profits from frozen Russian assets to continue funding and arming Kiev, Brussels announced on Wednesday. The bloc’s ambassadors agreed on the course of action “in principle,” but the legal text is still to be ratified by the EU Council.
The proposal targets proceeds from some €191 billion ($205 billion) in Russian funds currently held immobilized in the Belgian clearing house Euroclear. In total, Western states froze an estimated $300 billion of Moscow’s sovereign capital abroad soon after the escalation of the conflict in Ukraine in February 2022.
“EU ambassadors agreed in principle on measures concerning extraordinary revenues stemming from Russia’s immobilized assets,” the Belgian Presidency announced on X (formerly Twitter) on Wednesday.
Euroclear generates somewhere between €2 billion and €3 billion ($2.15 billion to $3.22 billion) in profits annually from the Russian money, depending on the interest rates, according to CEO Valerie Urbain.
Under the proposal, the EU hopes to send 90% of those profits towards purchasing armaments for Ukraine, and 10% towards non-military aid, with the first tranche expected in July.
In the meantime, Belgium will continue levying a 25% corporate tax on the revenue, while Euroclear would keep 10% before the money is sent to the EU, to provide the clearing house a buffer against ongoing and future litigation by Russia. Euroclear would also keep 0.3% of future profits as an incentive fee.
The move follows months of deliberation among Ukraine’s Western backers on how best to utilize Russia’s frozen funds. The US – Kiev’s biggest war sponsor – had proposed seizing the assets entirely, but had faced pushback from the EU thus far.
Euroclear’s CEO likened the confiscation of frozen Russian funds to “opening Pandora’s box.” Speaking to L’Echo on Tuesday, she warned it could cause “major international investors to turn away from Europe,” as they could no longer trust that their own assets could not be confiscated.
Russia stressed that seizure of its sovereign capital or any similar action would not only amount to theft and violate international law, but undermine trust in both Western currencies and the global financial system, shaking the world economy.
If the frozen Russian capital is seized, Moscow will retaliate in kind, Finance Minister Anton Siluanov warned in February. Total foreign direct investments in the Russian economy by the EU, G7, Australia, and Switzerland were estimated to be around $288 billion at the end of 2022.
US Coast Guard Polar Icebreaker 5 Years Behind Schedule, $2Bln Over Budget

Sputnik – 07.05.2024
WASHINGTON – The US Coast Guard’s proposed next generation polar icebreaker to reestablish and maintain a strong US presence in the Arctic Ocean is at least five years behind schedule and $2 bln over budget with many design and shipbuilding problems still unresolved, a senior Biden administration official and a new report told Congress.
“The PSC [Polar Security Cutter] program is now years behind the original schedule, without having attained the level of maturity we require prior to authorizing the start of construction,” Department of Homeland Security Deputy Under Secretary for Management Randolph Alles told the US House Homeland Security Subcommittee on Transportation and Maritime Security.
The project had suffered from the general lack of US experience designing and building polar icebreakers and its prime contractor VT Halter Marine suffered from organizational instability and has undergone managerial restructuring following its acquisition by Bollinger, a competitor shipyard in 2022, Alles said.
In addition, the design of the Polar Security Cutter is more complex and is taking more than three years longer than expected – delaying delivery of the lead ship by about five years, Alles said.
Earlier on Tuesday, the Government Accountability Office (GAO) issued a new report in which it concluded that the program’s costs increased by more than $2 billion due to these challenges.
Even with a projected 39% increase, procurement costs still appear to still be significantly underestimated because the actual ship design is about 35% larger in terms of light-ship displacement than the government’s original notional design, the GAO said.
On April 24, US Coast Guard Vice Commandant Steven Poulin said that the United States is losing ground in the Arctic to its near-peer competitors Russia and China because of a lack of icebreaking capability, but he was optimistic the situation will improve in the future.
US tries to pressure Southeast Asia into sanctioning Iran: Bloomberg
Al Mayadeen | May 7, 2024
The United States is attempting to rally the support of Southeast Asian countries to implement further sanctions on Iran and its allies in the Axis of Resistance.
An unnamed senior US Treasury official made the revelation during a visit of American officials with Southeast Asia oil industry executives, regulators, and financial institutions to ensure the enforcement of sanctions on Russia and Iran, according to Bloomberg.
Washington is accusing Iran and “groups like Hamas” of soliciting money in Southeast Asia.
Specifically, the US is attempting to tighten its unilateral sanctions on Russia by involving Southeast Asian entities in the process, which involves cutting off pathways for the sale of Russian oil and Moscow’s sourcing of critical dual-use components from the region.
However, Iran has been the main focus of US officials in the region, given its historically friendly ties with countries like Malaysia. Earlier, the US administration passed a package of measures, which includes sanctioning foreign ports, vessels, and refineries that process or ship Iranian crude.
The sanctions would also attempt to enforce restrictions on all oil-related transactions with US-sanctioned Iranian banks. US officials are attempting to utilize the supposed environmental risks of dealing with Iran-affiliated vessels to pressure Malaysia into colluding with Washington.
Iran’s oil exports skyrocket
In the 12 months up until the end of March 2024, Iran’s oil exports reached $35.8 billion, Iran’s head of Customs Mohammad Rezvanifar said today, as reported by the Iranian Labour News Agency.
Even though the US renewed its sanctions on Iran in 2018, Chinese-Iranian trade, specifically Chinese purchases of Iranian oil, has aided Iran in keeping a positive trade balance.
Iran’s total trade witnessed a 2.6% year-on-year increase, hitting a value of $153 billion, of which $86.8 billion was Iranian exports, Rezvanifar added.
As Tehran continues to cement its position in global trade, away from the US-controlled financial system, the country grows as an economic power. Oil sales are essential for the development of Iran’s industrial sectors, which further spur the country’s goal of economic independence.
Considering that Iran is a threat to American hegemony in West Asia, specifically to the Israeli regime and other US military assets, Washington has gone back to reinforcing restrictions on the inevitable rise of Tehran as a regional and possibly global leader.
Belgium working on Israel sanctions
RT | May 6, 2024
The Belgian government is “working on further sanctions against Israel,” Deputy Prime Minister Petra De Sutter said on Monday. Brussels has already sanctioned Israeli settlers, and plans to cut trade ties with the Jewish state over the war in Gaza.
In a post on X (formerly Twitter), De Sutter said that Israel’s planned invasion of Rafah – a city in southern Gaza where around 1.4 million Palestinian refugees have sought shelter – would “lead to [a] massacre.”
Israel ordered the evacuation of Rafah on Monday, with the Israel Defense Forces (IDF) warning that it would strike the city with “extreme force” shortly thereafter.
“I met with Palestinian Minister of Foreign Affairs Dr. Riad Malki. We discussed how Belgium can help to end the atrocities,” De Sutter said in a follow-up post, adding that “Belgium is working on further sanctions against Israel.”
Belgium and the EU’s 26 other member states imposed sanctions last month on four individuals and two organizations involved in the construction of illegal Jewish settlements on Palestinian land in the West Bank. The people and entities sanctioned are responsible for property theft and “serious human rights abuses against Palestinians,” according to the European Council.
Belgium currently holds the rotating presidency of the European Council. Speaking to Belgian newspaper Het Laatste Nieuws on Monday, Prime Minister Alexander De Croo said that he would use the presidency to push the European Commission to review its trade agreement with Israel, and if necessary, gather a group of like-minded European leaders willing to cut ties with the country.
“Can we now simply continue with Israel as a trading partner? I do not think so,” he told the newspaper.
De Croo rejected calls from the Belgian opposition to sanction Israel two months ago. “But in the meantime there have been 35,000 deaths, including 10,000 children,” he explained. “In ten years’ time people are going to say, ‘You watched and took no action.”
The EU is Israel’s largest trading partner, with 32% of Israel’s imports originating from the EU and 25% of its exports sent to the bloc, according to data from 2022. Belgium is Israel’s fourth biggest trading partner within the EU, largely due to the diamond trade.
Türkiye announced on Thursday that it would suspend all trade with Israel due to the latter’s “aggression against Palestine in violation of international law and human rights.” Turkish President Recep Tayyip Erdogan has been one of Israel’s fiercest critics since the war in Gaza began, comparing Israeli Prime Minister Benjamin Netanyahu to Adolf Hitler and accusing him of committing “genocide” against the Palestinians.
Israel declared war on Hamas after the Palestinian militants launched a surprise attack on October 7, killing around 1,200 people and taking roughly 250 hostages back to Gaza. The death toll from Israel’s retaliation in the enclave is approaching 35,000 as of Monday, according to the Palestinian health authorities.
Ukraine’s creditors want their money back – WSJ
RT | May 5, 2024
A group of foreign bondholders have taken steps to force Ukraine to begin repaying its debts as soon as next year, the Wall Street Journal reported on Sunday. If they succeed, Kiev could hemorrhage $500 million every year on interest payments alone.
The group, which includes investment giants Blackrock and Pimco, granted Kiev a two-year debt holiday in 2022, gambling that the conflict with Russia would have concluded by now.
With no end to the fighting in sight, the lenders have now hired lawyers at Weil Gotshal & Manges and bankers from PJT Partners to meet with Ukrainian officials and strike a deal whereby Ukraine would resume making interest payments next year in exchange for having a significant chunk of its debt written off, anonymous sources told the Wall Street Journal.
The group holds around a fifth of Ukraine’s $20 billion in outstanding Eurobonds, the newspaper reported. While this figure represents a fraction of Ukraine’s total external debt of $161.5 billion, servicing the interest on these bonds would cost the country $500 million annually, the bondholders said.
Should the bondholders fail to strike a deal with Kiev by August, Ukraine could default. This would damage the country’s credit rating and restrict its ability to borrow even more money in the future.
According to the newspaper, Ukrainian officials are hoping that the US and other Western governments will take its side during talks with the bondholders. However, a group of these countries have already offered Ukraine a debt holiday on around $4 billion worth of loans until 2027, and are reportedly concerned that any deal with the bondholders would see private lenders being repaid before them.
Ukraine already relies on foreign aid to keep government departments open and state employees paid. The country’s military is almost entirely dependent on foreign funding; officials in Kiev and the West were predicting imminent defeat until the US Congress approved a foreign aid bill last month which included $61 billion for Ukraine and US government agencies involved in the conflict.
The bill provides almost $14 billion to Ukraine for the purchase of weapons, and includes $9 billion in new “forgivable loans.”
According to the Wall Street Journal, some bondholders have suggested that the US and EU could use frozen Russian assets to pay off Ukraine’s debts. While around $300 billion in assets belonging to the Russian central bank have been frozen in American and European banks since 2022, the US only passed legislation allowing for their seizure last month, and no similar legal mechanism exists in Europe, where the vast majority of these assets are held.
The International Monetary Fund (IMF) and European Central Bank (ECB) have both urged governments not to steal this money, with ECB chief Christine Lagarde warning last month that doing so would risk “breaking the international order that you want to protect.”
Several Western Countries Propose Cutting Weapon, Technology Transfers to Israel
Sputnik – 30.04.2024
ANKARA – Several Western countries have proposed introducing cuts in weapons sales and impose restrictions on delivering technologies to Israel in a package of measures discussed during a two-day meeting in Saudi Arabia’s capital, Riyadh, Turkish newspaper Hurriyet reported on Tuesday, citing sources.
The Organisation of Islamic Cooperation, the League of Arab States and a number of European countries discussed measures that may be applied against Israel and countries supporting the Jewish state in the Gaza conflict at the meeting in Riyadh on the sidelines of the World Economic Forum, the newspaper reported.
The discussion aimed to involve as many countries as possible in the package of “pressure elements” that contains a proposal on airspace restrictions, among other things, the report said.
Earlier on Tuesday, Politico reported that a group of more than 90 US lawyers, including at least 20 from the presidential administration, called on US President Joe Biden to stop military aid to Israel because of its actions in the Gaza Strip, which they said contradict US and international humanitarian law.
On October 7, 2023, Hamas launched a large-scale rocket attack against Israel and breached the border, attacking both civilian neighborhoods and military bases. Nearly 1,200 people in Israel were killed and some 240 others abducted during the attack. Israel launched retaliatory strikes, ordered a complete blockade of Gaza, and started a ground incursion into the Palestinian enclave with the declared goal of eliminating Hamas fighters and rescuing the hostages. Over 34,400 people have been killed so far by Israeli strikes in the Gaza Strip, according to local authorities.
$3.5 Billion Slipped Into Ukraine-Israel Aid Bill To ‘Supercharge Mass Migration From The Middle East’
By Tyler Durden | Zero Hedge | April 30, 2024
Tucked away in the $95 billion military aid package for Ukraine, Israel and Taiwan is a $3.5 billion slush fund to open new processing centers for Muslim migrants, in what Sen. Eric Schmitt described as a bid to “supercharge mass migration from the Middle East.”
And as Breitbart points out, the $95 billion package does not include any funds to help rebuild America’s border defenses against illegal migration – but it does contain $481 million to settle migrants in US cities, and of course, the $3.5 billion to expand migration programs worldwide.
The $3.5 billion was granted to the Department of State, which works with many international groups that feed and transport migrants on their way to the United States.
Biden’s deputies are now using the refugee programs as an adjunct to their diversity-expanding “equity” migration policy. For example, Biden’s deputies used the program in March to import 3,009 migrants from the safe and democratic countries of El Salvador and Guatemala.
They are also using the refugee funds to expand migration routes from many African and Muslim countries. In March, they pulled in 12,018 people from the Congo, plus 16,732 migrants from the Muslim countries of Afghanistan, Syria, Pakistan, Iraq, and Eritrea, according to a report by Stacker.com.
According to an April 23 release from the Biden DHS visa-granting agency, “The Biden-Harris administration set the refugee admissions ceiling for fiscal year 2024 at 125,000 refugees,” adding “With the opening of the Doha Field Office on May 7, 2024, and the Ankara Field Office on May 9, 2024, USCIS will have 11 international field offices. Other international field offices include Beijing; Guangzhou, China; Guatemala City; Havana; Mexico City; Nairobi, Kenya; New Delhi; San Salvador, El Salvador; and Tegucigalpa, Honduras.”
So – we have the US government encouraging migration, both legal and illegal – which hurts low-income Americans the most, while neglecting to [secure] the borders. Seems we’ve learned nothing from Europe.
The Interlocking of Strategic Paradigms
By Alastair Crooke | Strategic Culture Foundation | April 29, 2024
Theodore Postol, Professor of Science, Technology and National Security Policy at MIT, has provided a forensic analysis of the videos and evidence emerging from Iran’s 13th April swarm drone and missile ‘demonstation’ attack into Israel: A ‘message’, rather than an ‘assault’.
The leading Israeli daily, Yediot Ahoronot, has estimated the cost of attempting to down this Iranian flotilla at between $2-3 billion dollars. The implications of this single number are substantial.
Professor Postol writes:
“This indicates that the cost of defending against waves of attacks of this type is very likely to be unsustainable against an adequately armed and determined adversary”.
“The videos show an extremely important fact: All of the targets, whether drones or not, are shot down by air-to-air missiles”, [fired from mostly U.S. aircraft. Some 154 aircraft reportedly were aloft at the time] likely firing AIM-9x Sidewinder air to air missiles. The cost of a single Sidewinder air-to-air missile is about $500,000”.
Furthermore:
“The fact that a very large number of unengaged ballistic missiles could be seen glowing as they reenter the atmosphere to lower altitudes [an indication of hyper-speed], indicates that whatever the effects of [Israel’s] David’s Sling and the Arrow missile defenses, they were not especially effective. Thus, the evidence at this point shows that essentially all or most of the arriving long-range ballistic missiles were not intercepted by any of the Israeli air and missile-defense systems”.
Postel adds, “I have analyzed the situation, and have concluded that commercially available optical and computational technology is more than capable of being adapted to a cruise missile guidance system to give it very high precision homing capability … it is my conclusion that the Iranians have already developed precision guided cruise missiles and drones”.
“The implications of this are clear. The cost of shooting down cruise missiles and drones will be very high and might well be unsustainable unless extremely inexpensive and effective anti-air systems can be implemented. At this time, no one has demonstrated a cost-effective defense system that can intercept ballistic missiles with any reliability”.
Just to be clear, Postol is saying that neither the U.S. nor Israel has more than a partial defence to a potential attack of this nature – especially as Iran has dispersed and buried its ballistic missile silos across the entire terrain of Iran under the control of autonomous units which are capable of continuing a war, even were central command and communications to be completely lost.
This amounts to paradigm change – clearly for Israel, for one. The huge physical expenditure on air defence ordinance – 2-3 billion dollars worth – will not be repeated willy-nilly by the U.S. Netanyahu will not easily persuade the U.S. to engage with Israel in any joint venture against Iran, given these unsustainable air-defence costs.
But also, as a second important implication, these Air Defence assets are not just expensive in dollar terms, they simply are not there: i.e. the store cupboard is near empty! And the U.S. lacks the manufacturing capacity to replace these not particularly effective, high cost platforms speedily.
‘Yes, Ukraine’ … the Middle East paradigm interlinks directly with the Ukraine paradigm where Russia has succeeded in destroying so much of the western supplied, air-defence capabilities in Ukraine, giving Russia near complete air dominance over the skies.
Positioning scarce air defence ‘to save Israel’ therefore, exposes Ukraine (and slows the U.S. pivot to China, too). And given the recent passage of the funding Bill for Ukraine in Congress, clearly air defence assets are a priority for sending to Kiev – where the West looks increasingly trapped and rummaging for a way out that does not lead to humiliation.
But before leaving the Middle East paradigm shift, the implications for Netanyahu are already evident: He must therefore focus back to the ‘near enemy’ – the Palestinian sphere or to Lebanon – to provide Israel with the ‘Great Victory’ that his government craves.
In short, the ‘cost’ for Biden of saving Israel from the Iranian flotilla which had been pre-announced by Iran to be demonstrative and not destructive nor lethal is that the White House must put-up with the corollary – an attack on Rafah. But this implies a different form of cost – an electoral erosion through exacerbating domestic tensions arising from the on-going blatant slaughter of Palestinians.
It is not just Israel that bears the weight of the Iranian paradigm shift. Consider the Sunni Arab States that have been working in various forms of collaboration (normalisation) with Israel.
In the event of wider conflict embracing Iran, clearly Israel cannot protect them – as Professor Postol so clearly shows. And can they count on the U.S.? The U.S. faces competing demands for its scarce Air Defences and (for now) Ukraine, and the pivot to China, are higher on the White House priority ladder.
In September 2019, the Saudi Abqaiq oil facility was hit by cruise missiles, which Postol notes, “had an effective accuracy of perhaps a few feet, much more precise than could be achieved with GPS guidance (suggesting an optical and computational guidance system, giving a very precise homing capability)”.
So, after the Iranian active deterrence paradigm shift, and the subsequent Air Defence depletion paradigm shock, the putative coming western paradigm shift (the Third Paradigm) is similarly interlinked with Ukraine.
For the western proxy war with Russia centred on Ukraine has made one thing abundantly clear: this is that the West’s off-shoring of its manufacturing base has left it uncompetitive, both in simple trade terms, and secondly, in limiting western defence manufacturing capacity. It finds (post-13 April) that it does not have the Air Defence assets to go round: ‘saving Israel’; ‘saving Ukraine’ and preparing for war with China.
The western maximalisation of shareholder returns model has not adapted readily to the logistical needs of the present ‘limited’ Ukraine/Russia war, let alone provided positioning for future wars – with Iran and China.
Put plainly, this ‘late stage’ global imperialism has been living a ‘false dawn’: With the economy shifting from manufacturing ‘things’, to the more lucrative sphere of imagining new financial products (such as derivatives) that make a lot of money quickly, but which destabilise society (through increasing disparities of wealth); and which ultimately, de-stabilise the global system itself (as the World Majority states recoil from the loss of sovereignty and autonomy that financialism entails).
More broadly, the global system is close to massive structural change. As the Financial Times warns,
“the U.S. and EU cannot embrace national-security “infant industry” arguments, seize key value chains to narrow inequality, and break the fiscal and monetary ‘rules’, while also using the IMF and World Bank – and the economics profession– to preach free-market best practice to EM ex-China. And China can’t expect others not to copy what it does”. As the FT concludes, “the shift to a new economic paradigm has begun. Where it will end is very much up for grabs.”
‘Up for grabs’: Well, for the FT the answer may be opaque, but for the Global Majority is plain enough – “We’re going back to basics”: A simpler, largely national economy, protected from foreign competition by customs barriers. Call it ‘old- fashioned’ (the concepts have been written about for the last 200 years); yet it is nothing extreme. The notions simply reflect the flip side of the coin to Adam Smith’s doctrines, and that which Friedrich List advanced in his critique of the laissez-faire individualist approach of the Anglo-Americans.
‘European leaders’, however, see the economic paradigm solution differently:
“The ECB’s Panetta gave a speech echoing Mario Draghi’s call for “radical change”: He stated for the EU to thrive it needs a de facto national-security focused POLITICAL economy centered around: reducing dependence on foreign demand; enhancing energy security (green protectionism); advancing production of technology (industrial policy); rethinking participation in global value chains (tariffs/subsidies); governing migration flows (so higher labour costs); enhancing external security (huge funds for defence); and joint investments in European public goods (via Eurobonds … to be bought by ECB QE)”.
The ‘false dawn’ boom in U.S. financial services began as its industrial base was rotting away, and as new wars began to be promoted.
It is easy to see that the U.S. economy now needs structural change. Its real economy has become globally uncompetitive – hence Yellen’s call on China to curb its over-capacity which is hurting western economies.
But is it realistic to think that Europe can manage a relaunch as a ‘defence and national security-led political economy’, as Draghi and Panetta advocate as a continuation of war with Russia? Launched from near ground zero?
Is it realistic to think that the American Security State will allow Europe to do this, having deliberately reduced Europe to economic vassalage through causing it to abandon its prior business model based on cheap energy and selling high-end engineering products to China?
This Draghi-ECB plan represents a huge structural change; one that would take a decade or two to implement and would cost trillions. It would occur too, at a time of inevitable European fiscal austerity. Is there evidence that ordinary Europeans support such radical structural change?
Why then is Europe pursuing a path that embraces huge risks – one that potentially could drag Europe into a whirlpool of tensions ending in war with Russia?
For one main reason: The EU leadership held hubristic ambitions to turn the EU into a ‘geo-political’ empire – a global actor with the heft to join the U.S. at Top Table. To this end, the EU unreservedly offered itself as the auxiliary of the White House Team for their Ukraine project, and acquiesced to the entry price of emptying their armouries and sanctioning the cheap energy on which the economy depended.
It was this decision that has been de-industrialising Europe; that has made what remains of a real economy uncompetitive and triggered the inflation that is undermining living standards. Falling into line with Washington’s failing Ukraine project has released a cascade of disastrous decisions by the EU.
Were this policy line to change, Europe could revert to what it was: a trading association formed of diverse sovereign states. Many Europeans would settle for that: Placing the focus on making Europe competitive again; making Europe a diplomatic actor, rather than as a military actor.
Do Europeans even want to be at the American ‘top table’?
Liberal world order must be destroyed – Orban
RT | April 25, 2024
Western liberal hegemony has failed and must be destroyed, Hungarian Prime Minister Viktor Orban stated on Thursday, suggesting it could end as soon as this year.
Addressing the Conservative Political Action Conference (CPAC Hungary) in Budapest, Orban criticized the existing “world order based on progressive liberal hegemony,” saying it has spawned numerous figureheads who are “not fit to be leaders,” with even “beauty pageants” knowing more about peace then they do.
He accused liberal politicians of building “hegemonic ideological control to which everyone must submit” instead of actual governing, while turning “state bodies into tools of oppression.” Such forces are a dangerous enemy whose time is coming to an end, Orban claimed.
“The progressive liberals sense the danger, the end of this era also means their end,” the prime minister argued. Their dominance could be overcome as soon as this year, Orban predicted, citing the upcoming EU Parliament and US presidential elections.
“The proponents of the old world are sitting in Brussels, and although it is not my business to interfere in American politics, I fear that they are also sitting in Washington. This is what we are doing this year. This year, we will try to drive them out,” the Hungarian prime minister said.
“This year, God willing, we can end the inglorious era of the Western civilization. We can end the world order built on progressive liberal hegemony. The progressive liberal world spirit has failed. It gave the world war, chaos, unrest and destroyed economies.”
The emerging world order will be based on true sovereignty, with countries driven by their actual national interests rather than a global ideology, according to Orban.
“Let the era of sovereignty come, let’s get back towards peace and security. Let’s make America great again, let’s make Europe great again,” he concluded.
Pakistan under risk of sanctions over trade deal with Iran: Washington
The Cradle | April 24, 2024
Washington threatened Pakistan with sanctions on 23 April over a trade agreement recently signed with Iran.
“We advise anyone considering business deals with Iran to be aware of the potential risk of sanctions. Ultimately, the Government of Pakistan can speak to their own foreign policy pursuits,” State Department spokesman Vedant Patel said on 23 April.
The warning came after Iranian President Ebrahim Raisi arrived in Pakistan on 22 April and met with top officials, including Pakistani Prime Minister Shehbaz Sharif.
“Both sides agreed to increase the volume of bilateral trade to 10 billion US dollars in the next five years,” Sharif’s office said in a statement.
Raisi and Sharif also discussed during the visit the importance of energy cooperation between Tehran and Islamabad.
A gas pipeline project between the two, dating back over a decade and aimed at allowing the flow of Iranian gas into Pakistan, has been consistently held up by the US.
A US official revealed last month that Washington has set a “goal” to prevent the construction of the Iran–Pakistan gas pipeline. The project has been delayed by nearly a decade in large part due to US economic pressure.
“I fully support the efforts by the US government to prevent this pipeline from happening,” US Assistant Secretary Bureau of South and Central Asian Affairs, Donald Lu, said during a congressional hearing on 19 March. “We are working toward that goal,” he stressed.
On Wednesday, Iran and Pakistan issued a joint statement calling on the UN Security Council “to prevent Israel’s regime from its adventurism in the region and its illegal acts attacking its neighbors and targeting foreign diplomatic facilities.”
The statement also called “for an immediate and unconditional ceasefire, unimpeded humanitarian access to the besieged people of Gaza, return of the displaced Palestinians, as well as ensuring accountability of the crimes being committed by the Israeli regime. They reiterated their support for a just, comprehensive, and durable solution based on the aspirations of the people of Palestine,” according to the Pakistani Ministry of Foreign Affairs.
EU will be the biggest loser if it confiscates assets – Moscow
RT | April 23, 2024
Moscow has drafted a package of retaliatory measures in the event that Western countries seize Russian sovereign assets that have been frozen over the Ukraine conflict, senior senator Valentina Matvienko warned on Tuesday.
In an interview with Russian journalist Dmitry Kiselyov, the chairwoman of the Federation Council said that the EU’s potential move to confiscate Russian assets would be “unprecedented,” adding that it “would destroy the global economy.”
“Of course, it would be absolutely illegal, and everyone in Europe understands that they can’t do that,” the official stated.
The West has frozen around $300 billion in Russian central bank assets since the start of the Ukraine conflict in February 2022. Most of the funds are being held in the EU. Moscow has repeatedly denounced the seizure as “theft.”
Officials in several Western nations, notably the US and the UK, have insisted on the outright confiscation of Russian assets despite widespread concerns that this would have no legal basis. In contrast, the EU has been reluctant to do so, reportedly fearing Russian retaliation.
Matvienko stressed that Russia has “a prepared response” to a potential confiscation. “We have a bill that we are ready to consider immediately in response. And the Europeans will lose more than we will. Of course, they are afraid of this, especially given that their economy is collapsing.”
The senator argued that Washington has crushed the EU, both politically and economically. “In the defense and security area, it used to be a vassal… but now it has been simply squashed by the Americans. They now want to strangle it even more… to make it even less competitive,” she stated.
With this in mind, Matvienko suggested that the European business community should vehemently protest against the potential seizures, as they would be the primary target of Moscow’s retaliatory measures.
While the EU has been dragging its feet on confiscating Russian assets, it has been working on a plan to seize the profits generated by those funds in order to procure weapons for Ukraine and boost its defense production capabilities.
According to Politico, however, some members of the bloc have voiced serious misgivings about the initiative. Hungary and Slovakia have opposed the idea of sending weapons to Ukraine, while Malta and Luxembourg are reportedly unhappy that they were not consulted about the plan.
