NEWSLETTER
Thursday / September 29Sep 29
Friday / June 3
Biden to visit Saudi Arabia
US President Biden has decided to travel to Riyadh this month to rebuild relations with the oil-rich kingdom.
While the timing still being discussed according to NYT, Biden is set to add the visit to a previously scheduled trip to Europe and Israel.
During his stop in Riyadh, the president will meet with Crown Prince Mohammed bin Salman. Biden will also meet with the leaders of other Arab nations, including Egypt, Jordan, Iraq and the United Arab Emirates, Kuwait, Bahrain, Oman, and Qatar.
Opec decision
OPEC agreed to pump more crude oil over the next two months.
The oil exporters' cartel said it would increase supply by 648,000 barrels per day in July and August. That is 200,000 barrels per day more than scheduled under a supply agreement with other producers, including Russia, known as OPEC+.
The Biden administration welcomed the "important decision from OPEC+," and highlighted Saudi Arabia's role as the group's largest producer in achieving consensus.
EU sanctions
The European Union on Thursday approved new sanctions on Russian oil and top bank Sberbank, in response to Putin's February 24 invasion of Ukraine.
EU leaders agreed to an embargo on crude oil imports that will take full effect by end-2022. Hungary and two other landlocked Central European states of Slovakia and the Czech Republic secured exemptions.
One prominent person who will not be blacklisted is the head of the Russian Orthodox Church, Patriarch Kirill, a close Putin ally. Hungary's opposition blocked the necessary EU unanimity.
US gets personal with Putin
The Biden administration on Thursday issued a raft of new sanctions aimed at punishing Russia for its invasion of Ukraine. Among the targets were several yachts linked to Russian President Vladimir Putin, and a cellist who acts as a middleman for the Russian leader, and an oligarch for a major steel producer.
The US Treasury also targeted Imperial Yachts, a brokerage based in Monaco that allows superyacht owners, including Russian oligarchs, to charter their boats when they are not using them, as well as an aviation company it said was involved in a scheme to transfer aircraft to an offshore company to avoid sanctions.
Russia's Pacific drills
Russia's Pacific Fleet launched a week-long series of exercises with more than 40 ships and up to 20 aircraft taking part, Russian news agencies quoted the defence ministry as saying.
The ministry statement said the exercises, taking place from June 3-10, would involve, among other matters, "groups of ships together with naval aviation taking part in search operations for (enemy) submarines".
US-Taiwan trade
New US trade negotiations with Taiwan could move more quickly than broader talks with 12 Indo-Pacific countries given strong interest in Taipei and Washington in deepening economic ties, Deputy U.S. Trade Representative Sarah Bianchi said on Thursday.
There are parallels between the newly launched Indo-Pacific Economic Framework talks and the Taiwan talks, Bianchi told Reuters in an interview, but the latter initiative is aimed at increasing links with Taiwan on specific economic issues.
Asked if the Taiwan initiative could bear fruit sooner than the Indo-Pacific Economic Framework (IPEF) talks, she said: "Potentially yes, it could."
The Chinese-claimed island was excluded from the 14-country IPEF initiative launched last week by President Joe Biden. However, USTR announced separate, bilateral trade talks with Taiwan on Wednesday.
IPEF, which seeks to return an economic pillar to U.S. engagement in the region, will include Japan, India, South Korea, Indonesia, Vietnam, Australia and other countries in the region, but not China.
US stocks
U.S. stocks rose Thursday after an intraday comeback as the three major indexes each snapped two-day losing streaks.
The Dow Jones Industrial Average added 435.05 points, or 1.3%, to close at 33,248.28. The S&P 500 gained 1.8% to 4,176.82. The tech-heavy Nasdaq Composite advanced 2.7% to 12,316.90.
US President Biden has decided to travel to Riyadh this month to rebuild relations with the oil-rich kingdom.
While the timing still being discussed according to NYT, Biden is set to add the visit to a previously scheduled trip to Europe and Israel.
During his stop in Riyadh, the president will meet with Crown Prince Mohammed bin Salman. Biden will also meet with the leaders of other Arab nations, including Egypt, Jordan, Iraq and the United Arab Emirates, Kuwait, Bahrain, Oman, and Qatar.
Opec decision
OPEC agreed to pump more crude oil over the next two months.
The oil exporters' cartel said it would increase supply by 648,000 barrels per day in July and August. That is 200,000 barrels per day more than scheduled under a supply agreement with other producers, including Russia, known as OPEC+.
The Biden administration welcomed the "important decision from OPEC+," and highlighted Saudi Arabia's role as the group's largest producer in achieving consensus.
EU sanctions
The European Union on Thursday approved new sanctions on Russian oil and top bank Sberbank, in response to Putin's February 24 invasion of Ukraine.
EU leaders agreed to an embargo on crude oil imports that will take full effect by end-2022. Hungary and two other landlocked Central European states of Slovakia and the Czech Republic secured exemptions.
One prominent person who will not be blacklisted is the head of the Russian Orthodox Church, Patriarch Kirill, a close Putin ally. Hungary's opposition blocked the necessary EU unanimity.
US gets personal with Putin
The Biden administration on Thursday issued a raft of new sanctions aimed at punishing Russia for its invasion of Ukraine. Among the targets were several yachts linked to Russian President Vladimir Putin, and a cellist who acts as a middleman for the Russian leader, and an oligarch for a major steel producer.
The US Treasury also targeted Imperial Yachts, a brokerage based in Monaco that allows superyacht owners, including Russian oligarchs, to charter their boats when they are not using them, as well as an aviation company it said was involved in a scheme to transfer aircraft to an offshore company to avoid sanctions.
Russia's Pacific drills
Russia's Pacific Fleet launched a week-long series of exercises with more than 40 ships and up to 20 aircraft taking part, Russian news agencies quoted the defence ministry as saying.
The ministry statement said the exercises, taking place from June 3-10, would involve, among other matters, "groups of ships together with naval aviation taking part in search operations for (enemy) submarines".
US-Taiwan trade
New US trade negotiations with Taiwan could move more quickly than broader talks with 12 Indo-Pacific countries given strong interest in Taipei and Washington in deepening economic ties, Deputy U.S. Trade Representative Sarah Bianchi said on Thursday.
There are parallels between the newly launched Indo-Pacific Economic Framework talks and the Taiwan talks, Bianchi told Reuters in an interview, but the latter initiative is aimed at increasing links with Taiwan on specific economic issues.
Asked if the Taiwan initiative could bear fruit sooner than the Indo-Pacific Economic Framework (IPEF) talks, she said: "Potentially yes, it could."
The Chinese-claimed island was excluded from the 14-country IPEF initiative launched last week by President Joe Biden. However, USTR announced separate, bilateral trade talks with Taiwan on Wednesday.
IPEF, which seeks to return an economic pillar to U.S. engagement in the region, will include Japan, India, South Korea, Indonesia, Vietnam, Australia and other countries in the region, but not China.
US stocks
U.S. stocks rose Thursday after an intraday comeback as the three major indexes each snapped two-day losing streaks.
The Dow Jones Industrial Average added 435.05 points, or 1.3%, to close at 33,248.28. The S&P 500 gained 1.8% to 4,176.82. The tech-heavy Nasdaq Composite advanced 2.7% to 12,316.90.
