Category: Spotlight

Speaking to journalists via conference call, Peskov was asked to comment on the arrest of the American citizen and whether Russia will cooperate with US security services on the issue. The spokesperson stated that he was not aware of the details of the case and that the matter remains in the hands of the FSB.   However, Peskov claimed that as far as he was aware, Gershkovich had been caught in the act of trying to collect intelligence about a defense facility, in violation of Russian laws on state secrets, as announced by the FSB. The correspondent, who covers news from Russia, Ukraine, and the former USSR, could face between 10 and 20 years in prison if charged with espionage.  Although Gershkovich had obtained the necessary journalistic credentials from the Foreign Ministry to work in Russia, the FSB alleges that he “acted in the interest of the US government” when he was caught during “an attempt to receive” classified intelligence. 

Asked if the incident could provoke a response from US authorities regarding Russian journalists working in America, Peskov said that Moscow hopes no such retaliation will follow because “we are not talking about allegations here. He was caught in the act.”  The WSJ has reacted to the incident by stating that it is “deeply concerned for the safety of Mr Gershkovich.”  Russian Deputy Foreign Minister Sergey Ryabkov has said that the issue of potentially exchanging the WSJ journalist in a swap deal has not been raised.   Meanwhile, Russian Foreign Ministry spokeswoman Maria Zakharova has claimed that whatever Gershkovich was doing when he was detained by the FSB, it had “nothing to do with journalism.” She argued that the status of correspondent had previously been used as cover by other Western nationals attempting to obtain classified Russian intelligence.

The BNSF train derailed in the town of Raymond, roughly 100 miles (161 kilometers) west of Minneapolis, around 1 a.m., according to a statement from Kandiyohi County Sheriff Eric Tollefson.

This latest derailment happened as the nation has been increasingly focused on railroad safety after last month’s fiery Norfolk Southern derailment that prompted evacuations in East Palestine, Ohio, near the Pennsylvania border.

Residents in that town of about 5,000 remain concerned about lingering health impacts after officials decided to release and burn toxic chemicals to prevent a tank car explosion. State and federal officials maintain that no harmful levels of toxic chemicals have been found in the air or water there, but residents remain uneasy.

After a relatively calm week in banking, Deutsche Bank is now making headlines for a falling share price and rising CDS spreads.

In an apparent attempt to show strength, the company announced that it would redeem a bond issue early, but the market had other ideas.

Shares of major U.S. banks such as JPMorgan Chase & Co, Wells Fargo and Bank of America dropped between 1% and 2% in early trade.

Shares of regional lenders First Republic Bank, PacWest Bancorp, Western Alliance Bancorp and Truist Financial Corp fell between 1% to 5%.

The S&P 500 banking index and the KBW regional banking index, hit their lowest since late 2020 in the previous session, fell 1.6% and 1.2%, respectively.

European banks also came under pressure after a report on a U.S. probe into Credit Suisse and UBS further soured the mood. Their U.S.-listed shares were down about 5.4% and 4.1%, respectively.

U.S. shares of Deutsche Bank fell nearly 10% after the bank’s credit default swaps rose to a four-year high.

U.S. two-year Treasury yields fell sharply to their lowest levels since September on Friday.

U.S. corporate due diligence firm Mintz Group said on Thursday its Beijing office was raided by authorities and five Chinese staff were detained, stoking worry among foreign companies in China just as its capital hosts an international economic forum.

News of the raid and detentions comes as Sino-U.S. relations have spiraled downwards following months of diplomatic tensions, including over the U.S. military downing in February of a suspected Chinese spy balloon and a planned U.S. transit next week by the president of Taiwan, the self-governed island China claims as its territory.

“We can confirm that Chinese authorities have detained the five staff in Mintz Group’s Beijing office, all of them Chinese nationals, and have closed our operations there,” the company said in an emailed statement to Reuters.

The company said it was ready to work with Chinese authorities to “resolve any misunderstanding that may have led to these events”, and that its top concern was the safety and wellbeing of colleagues in China.

Credit Suisse Group AG and UBS Group AG are among the banks under scrutiny in a US Justice Department probe into whether financial professionals helped Russian oligarchs evade sanctions, according to people familiar with the matter.

The Swiss banks were included in a recent wave of subpoenas sent out by the US government, the people said. The information requests were sent before the crisis that engulfed Credit Suisse and resulted in UBS’s proposed takeover of its rival.

Subpoenas also went to employees of some major US banks, two people with knowledge of the inquiries, said.

The Justice Department inquiries are focused on identifying which bank employees dealt with sanctioned clients and how those clients were vetted over the past several years.

A federal appeals court on Wednesday directed a lawyer for Donald Trump to turn over to prosecutors documents in the investigation into the former president’s retention of classified…

Russia said on Wednesday that a division of its Bastion coastal defense missile systems had been deployed to Paramushir, one of the Kuril islands in the north Pacific, some of which Japan claims as its territory.

The move is part of a wider strengthening of Russian defenses in its vast far eastern regions, Defense Minister Sergei Shoigu said, partly in response to what he called U.S. efforts to “contain” Russia and China.

Shoigu was speaking to Russia’s top army brass a day after President Vladimir Putin and Chinese leader Xi Jinping cemented their “no limits” partnership at talks in the Kremlin with agreements on deeper energy and military cooperation.

“To contain Russia and China, the United States is significantly increasing its military presence in the Asia-Pacific region, strengthening its political and military links with its allies, continuing to create a new American security architecture in this region,” Shoigu said in a video of his address published by Russia’s defense ministry.

Shoigu said the Bastion system would bolster Russian security around the Kuril island chain.

As the Federal Reserve raises interest rates again, credit card debt is already at a record high, and more people are carrying debt month to month.

The Fed’s interest rate increases are meant to fight inflation, but they’ve also led to higher annual percentage rates (APRs) for people with credit card debt, which means they pay more in interest. The Fed announced Wednesday that it would increase rates another quarter of a point.

With inflation still high, people are leaning on their credit cards more for everyday purchases.

“It’s the economy, inflation, gas prices, and food costs,” said Lance DeJesus, 46, kitchen manager at the Golden Corral in York, Pennsylvania. “A year ago, you could go to the grocery store with a hundred bucks and come out with a bunch of bags. Now, I come out with just one bag.”

Last week, Nasdaq said that it would delist shares of the corporate majors unless they appeal to a Listing Qualifications Hearings Panel. It added that the securities will remain halted and unavailable to trade until any appeal is resolved. A similar decision was announced last week by the New York Stock Exchange (NYSE) in relation to CIAN, a Russian tech firm that runs a classifieds portal. The company said it would appeal the ruling by submitting a written request to the NYSE’s Committee of the Board of Directors.  Delistings can be suspended if an appeal is filed before a written decision is made by the commission. According to the rules of the exchange, the hearing must be held within 45 days of receiving the request by the company. Trading in the securities of a number of companies operating in Russia was halted on February 28, 2022, after Moscow launched its military operation in Ukraine. The suspension triggered default clauses on the exchange bonds issued by Yandex and Ozon.

Yandex first went public on the Nasdaq in 2011, via a parent holding company registered in the Netherlands. This was followed by a secondary listing on the Moscow Exchange three years later. The company’s shares hit a record high in November 2021, when its market cap amounted to $31 billion. Ozon raised around $1 billion in its initial public offering in late 2020, a debut that sparked an IPO boom for the Russian corporate sector. 

China lambasted the latest steps taken by the UK and US to supply conventionally-armed but nuclear-powered submarines to Australia, in a diplomatic broadside circulated overnight among international atomic envoys.

Beijing’s ambassador to the International Atomic Energy Agency, Li Song, said the Aukus agreement will undercut global efforts to stop the spread of weapons-grade nuclear fuel and open new proliferation pathways for other countries. Iran and South Korea are among nations that have also explored obtaining nuclear-powered submarines, and Brazil has already committed to building a fleet.

“If the Aukus partners insist on taking their own course, it is inevitable that some other countries will follow suit, which may eventually lead to the collapse of the international nuclear non-proliferation regime,” China wrote in the statement circulated in Vienna late Tuesday.

China published its criticism during President Xi Jinping’s three-day visit to Moscow.

The Chinese government pushed back Wednesday against U.S. officials’ criticisms of President Xi Jinping meeting with Russian President Vladimir Putin.

Chinese Foreign Ministry spokesman Wang Wenbin was pressed by a reporter for response to remarks made by U.S. National Security Council spokesman John Kirby.

Kirby previously admonished China’s claim to desire peace in the region, stating that China was simply parroting Russian talking points.

“I have noted the remarks by Mr. Kirby you just quoted,” Wang told the reporter Wednesday. “He also claimed that China’s position on the Ukraine issue cannot be seen as impartial. We would like to point out that China is neither the one that created the Ukraine crisis nor a party to the crisis; still less has China provided weaponry to any party to the conflict.”

“We have no selfish agenda on the Ukraine issue. We did not stand by, nor did we add fuel to the fire, or exploit the situation for selfish gain. All that we have done boils down to supporting talks for peace,” Wang continued.

“Should Putin appear on German territory, he will definitely be arrested,” Feldhusen said. She recalled that Germany is a signatory to the Rome Statute along with over 120 countries.

“It will be very difficult for Putin to go on official trips to those countries,” she added. According to the diplomat, Germany believes that the warrant was issued in a timely manner.

The International Criminal Court in The Hague issued arrest warrants on March 17 for Russian dictator Vladimir Putin and Russia’s children’s ombudsman, Maria Lvova-Belova, alleging their involvement in the unlawful removal of children from Ukraine to the Russian Federation since Feb. 24, 2022.

The Kremlin dictator’s arrest is authorized in 123 countries that have ratified the Rome Statute, the Prosecutor General of Ukraine, Andriy Kostin, said.

According to the Office of the President of Ukraine, the court’s ruling implies that there will be no negotiations with the present Russian leadership and no lifting of sanctions.

Last week, Denmark’s Foreign Minister Lars Rasmussen announced that his government could corroborate a report by the Russian gas giant Gazprom, the operator of the undersea pipeline, about a strange object found near Nord Stream 2. The company sent pictures of the item to Danish authorities, while the Russian government made a formal inquiry through its embassy, the minister said. Copenhagen treats the discovery seriously and will investigate further, Rasmussen pledged at the time.

The object was mentioned last week by Russian President Vladimir Putin in a TV interview. He said it was found during a Gazprom survey about 30 kilometers away from where the pipeline was breached. The device may be an antenna used in remotely detonating a charge, the president suggested, citing experts.

Moscow asked for permission to explore further, Putin added, necessary because the object is located in Denmark’s exclusive zone. Russia could organize a mission “on its own, jointly with [the Danes], or, better yet, with an international group of experts in explosives who are trained to work at such depth.” Rasmussen said such permission would not be granted, triggering a rebuke from the Russian Foreign Ministry.

The railroad at the heart of the hazardous train crash near the Ohio-Pennsylvania border offered vague answers Monday about who agreed to burn the derailed cars carrying vinyl chloride.

Norfolk Southern CEO Alan Shaw told the Senate Veterans Affairs and Emergency Preparedness Committee that a unified command team – led by a local fire chief in East Palestine, Ohio and Ohio Gov. Mike DeWine – OK’d the “controlled release” plan on Feb. 6 to prevent a dangerous explosion that would have spread contaminants and deadly shrapnel across the region.

Majority Chairman Doug Mastriano, R-Chambersburg, questioned the use of “controlled” to describe the railroad’s decision to set the train cars on fire and watch plumes of smoke drift for miles over homes and farmland.

“You’re blaming it on a chief in East Palestine, correct?” he said. “So your cars are on fire, it’s your rail, it’s your incident and you’re going to leave it to a local fire chief who’s likley never had to deal with this before?”

Following the train derailment in East Palestine, Ohio (United States), on February 3, officials from the U.S. Environmental Protection Agency (EPA), as well as local and state agencies, have been monitoring water and air quality in the town. East Palestine residents continue to complain of symptoms such as headaches and shortness of breath and question official reports that chemical levels are low and safe.

“Residents have a disconnect between experiencing some symptoms and being told that everything was fine,” said Ivan Rusyn, director of the Superfund Research Center at Texas A&M University in College Station, who has led research with other scientists to measure air quality in the town. For the researchers there is a lack of clear communication between the government and the residents of East Palestine

Three days after the accident, a 5km square area was evacuated and the chemicals the train was carrying, including vinyl chloride and butyl acrylate, were drained into pits. The materials were then burned in a controlled burn to prevent an explosion, creating a black cloud that likely created acrolein and other byproducts.

In fact, weeks after the derailment, the EPA reported that slightly elevated levels of acrolein were detected in East Palestine, concentrations that have “returned to levels below the national average,” according to the same entity. (You may be interested in: Here we explain why some beaches are disappearing in Colombia).

According to the group of researchers from the University of Texas, it is necessary to analyze a broader set of chemicals, extending those that spilled during the derailment or those that were formed with the controlled burning. The group of researchers found that, in addition to acrolein, there would be higher concentrations of four other similar compounds in surrounding areas.

Rusyn insists that more sampling is needed, as the cleanup work will continue to excavate the contaminated soil, as well as aerate the stream water to extract the chemicals, something that could release more compounds into the air.