Wheat, corn prices surge deepening consumer pain | Russia-Ukraine war News


Russia’s invasion of Ukraine threatens the already-tight international provide of corn and wheat.

Shoppers dealing with greater costs for merchandise made with corn and wheat could possibly be in for extra ache as international provides develop tighter due to Russia’s invasion of Ukraine.

Wheat costs jumped 37 p.c and corn costs soared 21 p.c thus far in 2022 after rising greater than 20 p.c in 2021. Persistently rising inflation has already prompted corporations like Kellogg’s and Normal Mills to boost costs and cross the prices off to customers and that sample might worsen with the present disaster.

Ukraine has lengthy been thought-about a “breadbasket” due to its wealthy soil. The nation accounts for 12 p.c of the world’s complete wheat exports, based on the USA Division of Agriculture. Additionally it is estimated to provide 16 p.c of the world’s corn exports this yr. Meals producers within the US get most of their uncooked supplies domestically, however any drop in manufacturing and exports from Ukraine would reverberate globally by worth will increase.

“The US shouldn’t be a key buying and selling accomplice with Russia/Ukraine however is nonetheless prone to really feel the shock from different main international locations that do depend on Russia/Ukraine,” stated CFRA analyst Arun Sundaram, in a notice to traders.

Russia, whereas a key participant within the vitality trade, additionally performs a significant position within the international agricultural market with substances for fertiliser. It’s dealing with more and more restrictive sanctions and penalties because the battle persists and that would stymie the circulate of these substances, comparable to potash, or Russia may reply by chopping off provides.

“Any cutoff from them in these areas could be fairly damaging to western economies,” stated Barry Bannister, chief fairness strategist at Stifel. “That may be very destabilising; the danger actually isn’t vitality it’s agriculture if that is dragged out.”

Inflation is already at a 40-year excessive within the US, partly pushed by rising meals prices. Meals producers have signalled they’re ready to boost costs additional if inflation persists. Shoppers have thus far been keen to pay greater costs, however further worth will increase elevate extra considerations that individuals will finally really feel too squeezed and pull again spending.

Tom Vilsack, US secretary of agriculture, has stated American wheat farmers will enhance manufacturing to assist offset the worldwide impression of choked off exports from Ukraine. Analysts count on that tighter provides and excessive demand will doubtless profit among the greater agribusinesses, together with Archer-Daniels-Midland and Bunge. These corporations have already been benefitting from a lift in international demand for key merchandise, together with wheat, corn and soybeans.

France seizes Russian oligarch’s yacht amid EU sanctions | Russia-Ukraine war News


Customized officers in France have seized a yacht belonging to Rosneft boss Igor Sechin because it tried to go away the Mediterranean port of La Ciotat in a breach of European Union sanctions on Russian oligarchs, Finance Minister Bruno Le Maire mentioned.

The incident got here as Western states are quickly implementing extreme sanctions, together with asset freezes, towards Russia for invading its neighbour Ukraine.

The 88-metre (289-foot) “Amore Vero” arrived in La Ciotat on January 3 and was as a result of keep there till April 1 for repairs, the finance ministry mentioned in a press release on Thursday, including that the vessel was topic to the brand new sanctions.

However on Wednesday, customs officers famous the yacht was “taking steps to sail off urgently, with out the restore works being over”, the assertion mentioned, including that the officers due to this fact determined to grab it.

Chief Executive of oil producer Rosneft Igor Sechin
Chief Government of oil producer Rosneft, Igor Sechin, labored with Putin for the reason that Nineties [File: Sputnik/Mikhail Klimentyev/Kremlin via Reuters]

The finance ministry mentioned the yacht belongs to an organization whose most important shareholder is Sechin, a detailed ally of Russian President Vladimir Putin.

It didn’t title the corporate.

Monaco-based Imperial Yachts, which based on Refinitiv knowledge is linked to Amore Vero, informed Reuters information company the yacht was owned by a agency known as Kazimo, which appointed them as managers of the boat in 2018.

“The person you title isn’t related with both Kazimo nor the yacht,” a consultant for Imperial Yachts informed Reuters when requested about Sechin.

“Kazimo’s attorneys are in contact with French Douane with a purpose to appropriate the file,” they mentioned.

The finance ministry didn’t instantly return a request for remark.

The superyacht was constructed by Oceanco within the Netherlands and delivered to its proprietor in 2013, based on yachtcharterfleet.com, which says its on-board options embody a magnificence salon and fitness center. It sails underneath the flag of the Cayman Islands, based on Eikon knowledge.

Sechin is seen as considered one of Russia’s strongest males who has labored with Putin for the reason that Nineties once they each labored within the Saint Petersburg mayor’s workplace.

French authorities on Thursday additionally seized a Russian-owned cargo vessel on the port of Lorient, Brittany.

Western sanctions

The EU, the USA and the UK have introduced sanctions towards Russian tycoons who’re intently related to Putin.

These included sanctions towards Sechin, pipeline boss Nikolay Tokarev, bankers Mikhail Fridman and Petr Aven and others.

Paris has mentioned it’s drawing up an inventory of property in France owned by oligarchs, together with yachts and luxurious vehicles, with the southern Rivera shoreline lengthy being a magnet for the wealthy and well-known.

“If I had been an oligarch, in Russia or France, I’d be nervous,” French International Minister Jean-Yves Le Drian mentioned on Monday.

US President Joe Biden has additionally tasked the Division of Justice with assembling a job power “to search out and seize their yachts, their luxurious flats their personal jets”.

The Maldives

In the meantime, not less than 5 superyachts owned by Russian billionaires had been anchored or cruising within the Maldives, an Indian Ocean island nation that has no extradition treaty with the US, ship monitoring knowledge confirmed.

The superyacht Clio, owned by Oleg Deripaska, the founding father of aluminium big Rusal who was sanctioned by the USA in 2018, was anchored off the Maldives capital Male on Wednesday, based on delivery database MarineTraffic.

The Titan, owned by Alexander Abramov, a co-founder of Russian metal producer Evraz, arrived on February 28.

Three different yachts owned by Russian oligarchs had been seen cruising in Maldives waters on Wednesday, the information confirmed. They included the 88-metre Nirvana, owned by Russia’s richest man, Vladimir Potanin. Many of the vessels had been final seen anchored in Center Japanese ports earlier within the 12 months.

A spokesperson for the Maldives authorities didn’t reply to a request for remark.

Rep. Van Taylor drops Texas reelection bid and admits affair after news report : NPR


Rep. Van Taylor, R-Texas, is pictured throughout a Home committee listening to on Capitol Hill in September 2020. Taylor introduced Wednesday he was dropping his bid for reelection.

Caroline Brehman/AP


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Caroline Brehman/AP


Rep. Van Taylor, R-Texas, is pictured throughout a Home committee listening to on Capitol Hill in September 2020. Taylor introduced Wednesday he was dropping his bid for reelection.

Caroline Brehman/AP

DALLAS — U.S. Rep. Van Taylor of Texas mentioned Wednesday that he was ending his reelection marketing campaign and admitted having an affair following reviews that he had been in a relationship with the widow of an American-born recruiter for the Islamic State group.

The North Texas congressman’s announcement got here the day after former Collin County Decide Keith Self pressured Taylor right into a runoff for the Republican nomination.

A number of days earlier than Tuesday’s main election, some right-wing web sites reported on an interview with Tania Joya, who mentioned she had an affair with Taylor that lasted from October 2020 to June 2021. Joya, of the Dallas suburb of Plano, instructed The Dallas Morning Information on Monday evening that she had met the congressman by way of her work as an ex-jihadist serving to to reprogram extremists.

Taylor apologized for the affair in a press release shared with supporters Wednesday. It did not point out Joya by identify or reference her late husband, the Islamic State group recruiter.

“A couple of 12 months in the past, I made a horrible mistake that has triggered deep harm and ache amongst these I like most on this world,” he wrote. “I had an affair, it was mistaken, and it was the best failure of my life.”

The Dallas Morning Information reported Wednesday that Joya contacted Suzanne Harp, one other candidate opposing Taylor within the main, hoping Harp would confront Taylor privately and persuade him to drop out and resign from Congress.

“All I needed was for Suzanne Harp to simply say, ‘Hey, I do know your little scandal with Tania Joya. Would you wish to resign earlier than we embarrass you?’ However it did not occur like that,” Joya instructed the newspaper.

As a substitute, the newspaper reported, Harp despatched a supporter to interview the girl, then shared the interview with a pair of right-wing web sites.

In a press release, Harp mentioned the revelations had been “deeply regarding, and I am praying for all concerned.”

“Politics ought to construct up our households, our communities, and our political events. This story breaks my coronary heart, each as a spouse and as an American. Politics ought to by no means tear these sacred establishments aside,” she mentioned.

Taylor, a former Marine and Iraq struggle fight veteran, was thought-about one of many Texas delegation’s most conservative members when he was elected in 2018. However he has been sharply criticized by the celebration’s proper wing for voting to certify the 2020 election outcomes and supporting a fee to research the Jan. 6 rebel on the Capitol.

Joya’s first husband, John Georgelas, grew up in Plano, transformed to Islam and have become a high recruiter for the extremist Islamic State group. In 2013, he took her and their three kids to northern Syria the place, as Yahya Abu Hassan, he turned crucial American combating for ISIS. He was killed in 2017.

Three weeks after their arrival in Syria, a pregnant Joya fled to Turkey with the youngsters, then to Plano to reside close to her in-laws. The couple was coated for years by tabloids in her native Britain and profiled in U.S. publications.

Towards the tip of the affair with Taylor, Joya mentioned she requested for assist to repay a bank card debt and another payments. He gave her $5,000, she mentioned.

“I wanted assist. I used to be like, simply assist me out as a result of that is the least — the very least — he might do,” she instructed the newspaper. “For him, it was like, ‘OK, on the situation you do not inform anybody.’ … I did not wish to inform anyone something.”

Taylor tallied 48.7% of the vote on Tuesday, falling 823 votes wanting what he wanted to keep away from a runoff with 63,981 ballots solid. Self scored 26.5% of the vote, whereas Harp tallied 20.8%.

Self is an Military veteran and graduate of the U.S. Army Academy. He has claimed Taylor drifted from his conservative roots within the GOP-dominant district. He was amongst those that closely criticized Taylor’s votes on the election consequence and rebel investigation and Taylor’s vote to take away Accomplice statues from the Capitol.

US jobless claims fall to lowest since start of year | Unemployment News


Preliminary unemployment claims decreased by 18,000 to 215,000 within the week ended February 26, United States knowledge revealed.

By Bloomberg

Purposes for U.S. state unemployment insurance coverage fell by greater than forecast to the bottom stage for the reason that begin of the yr, as Covid-19 circumstances decline and restrictions ease.

Preliminary unemployment claims decreased by 18,000 to 215,000 within the week ended Feb. 26, Labor Division knowledge confirmed Thursday. The median estimate known as for 225,000 purposes in a Bloomberg survey of economists.

U.S. jobless claims fell to the lowest since start of year

Persevering with claims for state advantages have been little modified at 1.48 million within the week ended Feb. 19. The four-week shifting common of constant claims dropped to 1.54 million, the bottom since 1970.

The drop in claims is according to a powerful labor market recovering from the omicron variant, which pressured some companies to shut. The pattern ought to proceed as loosening Covid restrictions are more likely to encourage People to go to work, and employers are eager on retaining staff as exercise reignites.

The info come forward of the federal government’s month-to-month employment report, which is at present forecast to indicate the U.S. added 415,000 jobs in February. A separate report Wednesday confirmed that U.S. corporations added a greater-than-forecast 475,000 jobs final month, based on ADP Analysis Institute.

On an unadjusted foundation, claims decreased to 194,693 final week. Michigan, California and Florida have been states registering the largest decreases in unadjusted claims.

(Provides graphic.)
–With help from Jordan Yadoo.

Hungary’s Orban defends response to Ukraine war refugees | Russia-Ukraine war News


Prime minister, who has been criticised for hardline border insurance policies, says ‘migrants will probably be stopped, refugees can get all assist’.

Beregsurany, Hungary-Ukraine border – Hungarian Prime Minister Viktor Orban has defended his nation’s resolution to open its borders to individuals fleeing battle in Ukraine, in contrast with the response to those that have been in search of security within the European Union in recent times.

Talking to Al Jazeera on Thursday at an assist centre in Beregsurany, one of many important crossing factors on Hungary’s 135km (84-mile) frontier with Ukraine, he mentioned: “We’re not residing in a snug West, we live within the midst of difficulties, not simply now however all through our historical past, so we’re in a position to inform the distinction between who’s a migrant and who’s a refugee.”

He added: “Migrants are stopped. Refugees can get all the assistance.”

Hours after Russia’s invasion of Ukraine on February 24, Orban reversed Budapest’s hardline border insurance policies that in recent times have attracted sharp criticism by rights teams and worldwide organisations.

Orban meets Ukrainian Refugees
Orban meets refugees close to the border [Amanda Coakley/Al Jazeera]

“We’re ready to care for them [Ukrainians], and we’ll be capable to rise to the problem shortly and effectively,” he mentioned in a press release.

About 105,000 individuals have crossed into Hungary in per week and have been met with a well-organised humanitarian mission made up of Hungarians from throughout the nation.

Total, multiple million individuals have fled Ukraine, together with in Moldova, Poland, Romania and Slovakia, for the reason that battle started.

INTERACTIVE_Refugees DAY 8 - March 3 - one million
(Al Jazeera)

In 2015, Hungary had closed its border with Serbia and erected a razor fence to discourage individuals fleeing battle, oppression and poverty from crossing into the EU. In July 2016, Orban’s nationalist authorities handed a regulation that legalised pushbacks – the observe of pushing asylum seekers again throughout borders with out due course of.

The European Courtroom of Justice has dominated the transfer was in violation of EU regulation.

Imre Szabjan, the pinnacle of the emergency division on the Hungarian Charity Service Affiliation of the Order of Malta, advised Al Jazeera the variety of refugees is prone to enhance within the coming days. “At first the individuals arriving in Hungary had somebody to fulfill them, now we’re seeing extra individuals arriving with only one bag and no thought what to do subsequent. So we’re giving them meals, shelter and speaking via prospects with them. Nobody is left on their very own.”

Throughout his 20-minute go to to Beregsurany, Orban spoke to individuals who had crossed from Ukraine on Thursday morning. He additionally spoke to the military of native volunteers who’re offering a 24-hour tea and sandwich operation.

“Hungary is an efficient good friend of Ukraine, and the Ukrainian individuals. In the event that they want any assist, we’re right here they usually can rely on us,” he advised journalists.

Ukrainian Refugees arriving in Hungary
About 105,000 individuals have crossed into Hungary over the previous week [Amanda Coakley/Al Jazeera]

When requested for a message to Ukrainian President Volodymyr Zelenskyy and his Russian counterpart, Vladimir Putin, Orban, who has loved a detailed relationship with Russia’s chief, was coy.

“We attempt to present all the possibilities for negotiations as a result of what’s going on now’s battle, the battle can solely be stopped by negotiations, and peace talks, and ceasefire – in the event that they want us to make peace Hungary is all the time out there,” he mentioned.

Hungary has supported Western sanctions towards Russia however International Minister Peter Szijjarta introduced on Monday the nation wouldn’t permit deadly assist to transit its borders en path to forces in Ukraine.

As Ukraine war rages, fear over safety of terminally ill children | Russia-Ukraine war News


Medics at a hospital in Zaporizhzhia make preparations as they brace for a Russian assault on the town in jap Ukraine.

Zaporizhzhia, Ukraine – Two weeks in the past, Nastiya left her city of Vasylivka in jap Ukraine to carry her five-year-old son Volodymyr to a hospital within the metropolis of Zaporizhzhia, additional north.

The boy was affected by inside bleeding and was in a important situation. He has since improved however the mom and son can’t return dwelling.

On February 24, Russian President Vladimir Putin ordered troops to assault Ukraine by air, land and sea. Ukraine’s resistance has been fierce, repelling assaults on the capital, Kyiv, and different main cities, however battles have intensified in latest days.

Vasylivka is likely one of the cities which can be being closely fought over by defending Ukrainian forces and advancing Russian troops. Individuals who tried to enter the city to ship support instructed Al Jazeera they had been turned again by the Ukrainian military due to the Russian shelling.

“In fact I’m apprehensive, I’ve three different youngsters at dwelling,” Nastiya instructed Al Jazeera’s Charles Stratford, standing beside Volodymyr’s hospital mattress.

“There was shelling and they’re hiding within the basement.”

INTERACTIVE Russia-Ukraine map Who controls what in Ukraine DAY 8
(Al Jazeera)

Elsewhere contained in the hospital, new child infants in incubators line the hall. Docs have moved them right here to defend them within the case of Russian shelling.

“This space is protected against shrapnel if there’s a blast so we put the infants right here,” defined Vyacheslav Kapusta, a health care provider on the hospital. “It’s deep contained in the constructing between two partitions.”

Within the hospital’s chilly and damp basement, workers are making ready beds for a attainable transport of sufferers.

“All of them have terminal ailments,” Igor Buiny, an anaesthetist, instructed Al Jazeera from contained in the intensive care unit.

“They’re incurable so we have now to depart them right here in case of an air alert as a result of they’re depending on oxygen and resuscitation gear and we can’t transport every little thing mandatory for them there.”

Outdoors the hospital, volunteers are filling sandbags to strengthen doorways and shield the home windows if shells explode close by.

As Russian troops transfer additional into Ukraine, civilians have been organising to assist struggle alongside Ukrainian troopers, the tempo extra pressing for the reason that military stated this week Russian tank columns are lower than 40km (25 miles) away.

Armed volunteers are additionally able to be taken to positions across the metropolis, and extra women and men arrive, ready to enroll to struggle.

“I don’t need my household killed. I received’t enable them to march on our land. They’re the occupiers and they need to be eradicated,” one man instructed Al Jazeera.

Russia insists its forces are solely concentrating on navy infrastructure, however reviews from the bottom counsel a mounting civilian dying toll. The United Nations says it has confirmed the deaths of a minimum of 227 civilians and 525 folks injured as of midnight on March 1, however warns the true toll is probably going a lot increased.

Spain’s prosecutors drop all probes against ex-King Juan Carlos | News


The general public prosecutors clear the best way for the 84-year-old to return to Spain from exile, itemizing numerous causes.

The Spanish public prosecutor’s workplace has dropped all investigations into former King Juan Carlos, clearing the best way for the 84-year-old to return to the nation from exile.

The judiciary discovered quite a few “irregularities” within the former king’s monetary conduct however didn’t convey them to trial due to the statute of limitations, his immunity earlier than his abdication in 2014 and taxes paid in arrears, El Pais newspaper reported on Thursday.

Since 2020, the Spanish authorities have launched three investigations into the daddy of King Felipe VI.

Along with accounts in Jersey, they targeted on alleged bribes paid in the course of the building of a high-speed railway line in Saudi Arabia and allegedly undeclared donations.

A Mexican businessman allegedly supplied Juan Carlos with credit score playing cards that he used to purchase a leaping horse price greater than $11,000 for his granddaughter.

To keep away from felony proceedings for tax fraud, Juan Carlos paid extra than $5.5m in again taxes a few yr in the past, as his lawyer confirmed on the time.

Spain's King Juan Carlos and his son Crown Prince Felipe (R) hug each other
Spain’s King Juan Carlos and his son Crown Prince Felipe, proper, hug on the signature ceremony of the act of abdication on the Royal Palace in Madrid [File: Juan Medina/Reuters]

Juan Carlos has been dwelling in exile within the Emirate of Abu Dhabi for about 18 months, removed from his 83-year-old spouse and the remaining of the household.

The person who was Spain’s head of state between 1975 and 2014 secretly left his residence nation on August 3, 2020, so as to “facilitate” Felipe’s work as accusations mounted in opposition to him, as a letter revealed later put it.

Since then, Juan Carlos has hardly proven himself in public. The royal household doesn’t touch upon the previous monarch’s state of affairs in Abu Dhabi.

Sri Lanka president says no more power cuts after March 5 | Business and Economy News


Assurance follows days of outages brought on by a scarcity of funds to purchase sufficient gasoline to fireside energy crops.

Sri Lanka will endure no extra energy cuts after March 5, the president’s workplace has mentioned in an announcement, following days of outages brought on by a scarcity of funds to purchase sufficient gasoline to fireside energy crops.

The assertion issued on Wednesday didn’t spell out how the South Asian island nation would safe gasoline provides to maintain the ability on from Saturday.

Shortages have additionally led to lengthy traces at petrol stations over the previous month.

“There might be no energy cuts from March 5. The distribution of gasoline to all gasoline stations throughout the nation might be normalised from tomorrow,” the assertion by President Gotabaya Rajapaksa’s workplace mentioned.

Sri Lanka presently wants about $500m a month to supply diesel and gasoline, however resorted to energy cuts final week because it scrambled to safe $31m for a 3,700-million-tonne gasoline cargo.

A spokesperson for the federal energy ministry didn’t instantly reply to emails and calls on how the federal government deliberate to make sure provides to gasoline energy crops.

Sri Lanka’s central financial institution has stopped releasing funds to pay for gasoline shipments, two senior vitality ministry sources mentioned.

Almost a 3rd of Sri Lanka’s electrical energy is generated by oil-fired energy crops and an identical quantity comes from coal and hydropower, in line with the state-run Ceylon Electrical energy Board (CEB).

Namal Hewage, normal supervisor of state-run Lanka Coal Co Pvt Ltd, mentioned the nation had enough coal to make sure a steady provide of electrical energy from the Ceylon Electrical energy Board-run coal-fired energy plant.

Lanka Coal had issued a spot tender for 1.8 million tonnes in September, after which it obtained 30 shipments from South Africa and eight shipments from Russia, Hewage mentioned.

The nation has procured one other 480,000 tonnes of South African-origin coal which can be anticipated to reach on the nation’s ports over the approaching days.

“This could possibly be enough to final till September. The central financial institution has helped us with the letter of credit score to pay for the coal provides,” Hewage mentioned.

Photos: Shelling continues in Ukraine as Russian forces advance | Gallery News


A couple of million folks have fled Ukraine following Russia’s invasion, within the swiftest refugee exodus this century, the United Nations says.

“In simply seven days we have now witnessed the exodus of 1 million refugees from Ukraine to neighbouring nations,” UN refugee chief Filippo Grandi tweeted. “Except there may be a right away finish to the battle, tens of millions extra are more likely to be pressured to flee Ukraine.”

Russian troops have been within the centre of the southern Ukrainian port metropolis of Kherson on Thursday after a day of conflicting claims over whether or not Moscow had captured a significant city centre for the primary time in its eight-day invasion.

The seize of Kherson, a strategic southern provincial capital the place the Dnieper River flows into the Black Sea, is the primary important metropolis to fall since Moscow launched its assault on February 24.

Ukraine’s second metropolis Kharkiv continues to return underneath heavy Russian shelling, with police and college buildings among the many newest struck.

The Group for Safety and Co-operation in Europe (OSCE) says a member of its observer mission died within the shelling.

Russia denies concentrating on civilians though there have been widespread studies of non-combatant casualties and the concentrating on of residential areas.

Russia on Wednesday reported its navy casualties for the primary time because the invasion started final week, saying almost 500 of its troops had been killed and nearly 1,600 wounded.

Germany charges Russian man with planned hit on Chechen dissident | Crime News


Legitimate D has allegedly accepted an order to kill a Chechen opposition member dwelling in exile in Germany.

A Russian man has been charged in Germany with planning the killing of a dissident from Russia’s Chechen Republic, based on German prosecutors.

Federal prosecutors stated in a press release revealed on Thursday that Legitimate D, whose final title was not launched for privateness causes, was alleged in early 2000 to have accepted an order from a member of Chechen President Ramzan Kadyrov‘s safety equipment to kill an opposition member dwelling in exile in Germany.

Prosecutors stated the designated sufferer and his brother have been critics of Kadyrov and vocally communicate out for an unbiased Chechnya on social media.

The precise killing was to be carried out by one other man, who pretended to simply accept the hit job for concern of repression, prosecutors stated.

The suspect was alleged to have obtained a firearm, ammunition and a silencer, and travelled to Germany within the second half of 2020 to obtain and help the opposite man in getting ready the killing, based on the assertion.

Legitimate D was arrested on January 1, 2021, earlier than the killing might happen. He has been imprisoned since.

Final 12 months, a Berlin court docket sentenced a Russian man, 56-year-old Vadim Krasikov, to life in jail for killing a Chechen man from Georgia within the German capital in 2019 on the behest of the Russian authorities.

The homicide of Zelimkhan “Tornike” Khangoshvili, a 40-year-old ethnic Chechen of Georgian nationality, sparked outrage in Germany and infected diplomatic tensions between Berlin and Moscow.