🔹USA 🇺🇸- The abrupt failure of Silicon Valley Bank 🏦 (SVB) and its takeover by federal regulators today (March 10th) sent a shock wave through the Boston technology & biotech communities, with companies and depositors unable to withdraw funds and facing the prospect of not being able to pay bills or make payroll. Withdrawals was limited to $250,000 per account.

🔹The sudden failure, the second-largest in US history, was triggered by SVB’s disclosure of growing losses on gov't bonds due to rising interest rates 📈. The announcement prompted a run on the bank. As depositors withdrew their savings this week, the bank had to sell Treasury bonds it owned at a loss, eroding its capital.

🔹Customers will get receivership certificates for balances above $250,000 💵 and won’t have immediate access to the funds unless the bank is quickly acquired by a healthy rival. The firm was the bank of startups where venture capital firms turned to finance their endeavors.

🔹The bank ranked 11th largest in Massachusetts, with $5.5 billion of deposits as of June 30, '22. The trouble started this week after SVB said it had lost $1.8 billion on bond investments and was raising a $2.25 billion capital infusion.

🔹The 🇺🇸 Federal Deposit Insurance Corporation (FDIC) took control and is now the manager of $175 billion in customer deposits.

Video courtesy Fox News

🔹More than 10,000 Dutch 🇳🇱 farmers protested at Zuiderpark in The Hague, Netherlands today (March 11th) against the gov'ts nitrogen policy that will result in many farmers being forced to close down their farms. Hundreds of Dutch farmers 🚜 defied a ban and drove their tractors into The Hague.

🔹The Dutch army was placed on stand-by as farmers headed to The Hague. Army vehicles drive into the center of The Hague to prevent tractors from entering the city. The mayor of The Hague issued an emergency decree granting police extra powers.

🔹Dutch 🇷🇺 politician, Wybren van Haga was present during the protests. He exposed the Netherlands gov't nitrogen policy as an agenda for control. Dutch flags were flown upside down in defiance of the gov't.

Last reported on this channel:

💠 Farmers from Belgium 🇧🇪 drove thousands of tractors during protests in Brussels on March 3rd.

💠 Dutch farmers protests end in clashes with police 🚓 & arrests.

💠 The Dutch gov't plans to buy & close down, up to 3,000 farms near environmentally sensitive areas.

💠 🇳🇱 Farmers Defence Force, representing 8 agro-organisations, (95% of the industry), locked out of the 1st round of negotiations.

💠 Protests previously erupted over the gov't's draconian nitrogen oxides curbing plan.

💠 Gov't policy will result in the destruction of meat/diary farming 🐂 🐄 in The Netherlands.

🔹The EU's 🇪🇺 LNG imports from Russia 🇷🇺 in 2022 rose by 31% and 35% compared to 2020 and 2021 volumes, respectively, despite an 80% drop in pipeline gas imports from Russia one year after the start of the conflict. In 2022, the EU's LNG imports from Russia reached a three-year high of 19.2 billion cubic meters.

🔹The EU's daily fossil fuel imports from Russia remain at €100 million, with pipeline gas accounting for $30 million, & LNG accounting for $10 million.

🔹About 8% of EU pipeline gas imports still come from Russia. Norway 🇳🇴 replaced Russia as Europe’s top pipeline natural gas supplier after the Nord Streams 1 & 2 sabotage. Russia increased its total LNG exports in 2022 by 8.6%. Plans are on the way in Russia for expanding the list of gas fields permitted to export LNG.

🔹EU Energy Commissioner Kadri Simson urges all EU member states & all companies not to sign new LNG 🚢 contracts with Russia.

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💠 LNG from Russia's Sakhalin 2 accounts for roughly 9% of Japan's 🇯🇵 total LNG imports.

💠 China's 🇨🇳 CNPC, is in the late stages of finalizing a huge long-term LNG import deal with Qatar. China's Sinopec recently signed a 27-year landmark $60 billion agreement for purchases of LNG from Qatar 🇶🇦.

💠 Head of the EU 🇪🇺Energy Regulator admits, the EU’s price cap is an untested tool that may not work as intended to prevent gas price spikes. "The gas price cap is “a difficult creature, it’s unprecedented, it’s untested”.

🔹Thousands of Czechs 🇨🇿 took part today (March 12th), in anti-gov't protests in Prague, Czech Republic (Czechia). A new political party, PRO, organised the rallies, as people protested against high inflation rates & the gov't’s assistance to Ukraine 🇺🇦. The party expressed its opposition to NATO. Some called for a peaceful end to the war in Ukraine, while others called for an end to the military assistance the Czech gov't has provided to Ukraine.

🔹Police detained 18 persons. Czechia has been struggling with record levels of inflation for a year, mainly due to a spike in energy prices. In February, annual inflation in the EU 🇪🇺 & NATO member of 10.5 million people reached 16.7%. Critics accuse the gov't of caring more about Ukraine.

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💠 Czechia is concerned over any possible EU sanctions on the Druzbha oil 🛢pipeline from Russia that supplies the country.

💠 Despite being able to produce much of its own food, Czechia 🇨🇿 is still seeing a dramatic increase in food prices. 📈 Rising energy prices is only part of the problem because a substantial amount of domestically produced food is exported to the EU & abroad.

💠 Tens of thousands of Czechs protested in Prague, (Oct '22), to demand a neutral foreign policy & resume purchases of Russian 🇷🇺 natural gas.

💠 Czechia protests grow, (Sep '22) over the ongoing energy 🔌 crisis.

💠 Over 70,000 Czech protestors, (Sep '22) demand the gov't take a neutral stand on Russia-Ukraine.

Video courtesy Press TV

🔹Over the past 2 days, Mar. 11th-12th, protests across France 🇫🇷 has been increasingly violent as protestors pushed for a withdrawal of President E. Macron's pension reform plan, which raises the retirement age from 62 to 64. Police 🚓 clashed with rioters dressed in black who set fires to piles of trash.

🔹Today, the French Senate 🏛 adopted the reform bill with a 195-112 vote. A commission is then to elaborate a final version of the draft law which will be submitted to both houses of parliament for a final vote.

🔹Protests were bolstered by ongoing strikes in key sectors, from energy to transport and garbage workers. Uncollected trash piled up in Paris and other cities.

Last reported on this channel:

💠 French unions stepped up protests and strikes against pension reform plans on Mar. 7th.

💠 At least 1.1 million people protested on the streets of 🇫🇷 Paris & other French cities on 19th January amid nationwide strikes.

💠 France's state-owned nuclear operator EDF is considering using funds from depositors in a centuries-old savings account to finance part of a €50bn plan to build six nuclear reactors.

💠 French Finance Minister called for a new European policy to protect the EU's 🇪🇺 industrial base in the face of massive US subsidies.

💠 France issues vouchers for firewood to help families cope as European traders are evading sanctions with fake paperwork claiming Russian🇷🇺/Belarussian 🇧🇾firewood is from Kazakhstan or Kyrgyzstan.

🔹Belarusian 🇧🇾 President A. Lukashenko and Iranian 🇮🇷 President E. Raisi, today (Mar. 13th), signed a roadmap of comprehensive cooperation between the countries for 2023-2026 following President Lukashenko's state visit in Tehran. The roadmap provides for comprehensive cooperation between Belarus and Iran in the political, economic, consular, scientific and technological avenues and other areas.

🔹President Raisi said, "despite the threats and sanctions that are used against the Islamic Republic of Iran, we have been able to achieve high results and transform sanctions into opportunities. We are ready to share our experience with the friendly Belarus in this regard".

🔹President Lukashenko in a meeting with First Vice-President M. Mokhber, expressed his willingness on setting up joint high-tech manufacturing facilities. Both countries saw a significant progress in bilateral trade for 2022, which was a three-fold increase 📈 over 2021.

🔹Belarus increased exports of timber 🪵 to Iran by 2.3 times in 2022. Both presidents visited an exhibition of Iran's healthcare products & advanced scientific solutions.

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💠 Iran’s Constitutional Council, approved Iran's membership in the Shanghai Cooperation Organization (SCO). Belarus is ready to expedite the fulfillment of international legal procedures for joining the SCO as a full member.

💠 Iran 🇮🇷 transport officials & the EAEU Trade Council, expressed willingness over launching rail transit across Kyrgyzstan 🇰🇬, Russia 🇷🇺, Belarus 🇧🇾.

💠 Iran & Belarus work towards integrating with Russian payment system MIR.

USA 🇺🇸 Regional Banks 🏦 update on Monday March 13th:

🔹 Signature Bank was closed down by the state regulators yesterday, investors have been wiped out, but the regulators have stepped in to guarantee 100% of deposits within the bank. This follows the collapse of Silicon Valley Bank just two days prior.

🔹The Federal Deposit Insurance Corp. transferred all deposits 💵, both insured and uninsured, of the former SVB to a newly created full-service FDIC-operated bridge bank in an action that seeks to protect all depositors of the bank.

🔹There is an even larger elephant in the room: derivatives. Volatility increased last Thursday & Friday.

🔹Anyone holding assets like stocks or bonds in U.S. banks now needs to reconsider the disappeared line between gov't & the bank assets. If the gov't can assume, control & backstop every single account balance within the bank, the gov't can assume & control all activity of the bank. #nationalisation

🔹Regional Banks stocks closed today at:

First Republic Bank 🔻62% after big losses late last week.

Western Alliance Bancorp 🔻 62.8%, after trading down more than 80% earlier in the day.

Metropolitan Bank Holding Corp. 🔻 43.8%.

Comerica Inc. 🔻 27.7%.

Customers Bancorp Inc. 🔻 23.8%.

PacWest Bancorp 🔻 21%.

Video courtesy Fox News

🔹UN 🇺🇳 - Russian 🇷🇺 delegations negotiate in Geneva, Switzerland 🇨🇭, over the Black Sea Grain Deal. The West has not fulfilled previous guarantees of removing all barriers to the export of Russian grain & fertilizers.

🔹The grain 🌾 deal was extended for 60 days instead of 120 days because of failures to remove restrictions on Russian agricultural exports. Moscow will insist on making sure that the guarantees given to Russia on the removal of both direct & indirect sanctions on Russian food & fertilizer exports are met.

🔹Türkiye 🇹🇷 welcomes the extension as 24 million tons of food have been exported through Ukrainian 🇺🇦 ports since the deal was implemented in July '22.

🔹Western countries are reluctant to connect the Russian bank Rosselkhozbank to SWIFT again out of fear that it will be used not only for transactions in the agriculture sector. Russian grain and fertilizer are stuck at European ports 🏗 due to western sanctions on shipping payments & insurance.

🔹Western media & politicians continue to blame Russia for a world-wide food crisis. However, during the first 6 months of the deal, it turned out that only 3% of Ukrainian grain went to countries where there is a shortage of food, while the rest of the grain was exported to Europe.

Last reported on this channel:

💠 Most grain from Ukraine goes to the EU 🇪🇺 for animal feed at dumping prices, not to the poorest countries.

💠 Russia resumes participation to the Black Sea grain deal after guarantees to lift restrictions on Russian exports of food & fertilizers.

💠 Russia suspends grain deal after ships in the Black Sea were attacked by Ukraine.

💠 Grain 🌾 deal hypocrisy by western countries, exposed.

💠 Chairman of the African Union visits Russia to discuss food crisis in Africa.

💠 Grain deal signed with safe routes 🚢 made in Black Sea. Previous deal was botched by Ukraine.

🔹The Kingdom of Saudi Arabia's (KSA) 🇸🇦 Energy Minister. Prince Abdulaziz bin Salman:

🎤 "We will not sell oil 🛢 to any country that imposes a price cap on our supply, and we will reduce oil production, and I would not be surprised if others do the same".

🎤 The G7/EU 🇪🇺 oil price cap would also undermine investments in oil capacity and will cause global supply to fall severely short of future demand. The impacts will be felt all over the world on producers and consumers alike, as well as on the oil industry.

🎤 Price caps whether imposed on a country or a group of countries, on oil or any other commodity will lead to individual or collective counter-responses with intolerable consequences in the form of massive volatility and instability.

🔹Saudi 🇸🇦 Aramco has announced record profits of $161billion USD for the year 2022.

🔹Saudi Aramco to supply petroleum products in Kenya 🇰🇪 for 6 months on credit, due to Kenya's shortage of US dollars.

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💠 The KSA 🇸🇦 & Iran 🇮🇷 agreed to resume diplomatic ties.

💠 Russia 🇷🇺 started exporting diesel to the KSA, which could be refined further & re-exported.

💠 The KSA’s oil revenues hit $326 billion in 2022, the highest level since Crown Prince MBS’s reign began

💠 The KSA is open to discussions about trade in currencies other than the US dollar 💵, such as the Chinese yuan.

💠 The KSA leads OPEC+'s 2 million barrels of oil 🛢 per day production cut.

💠 The KSA's 🇸🇦 energy minister warns nations who use emergency oil reserves to manipulate prices.

💠 The KSA imports Russian fuel oil, resulting in having more unrefined crude to sell on international markets at higher prices.

Video courtesy Firstpost

🔹 An Indian 🇮🇳 oil ministry source told Reuters, "India is not obligated to buy Russian oil 🛢 at rates below the price cap imposed by the G7 & other Western nations". "India has not signed any agreement with the Western powers to impose a price cap on Russian oil", added the source, who could not be named due to the confidential nature of the matter.

🔹 The structure of India’s oil trade means that the final price it pays includes shipping, insurance and other costs upon arrival at its ports, without a detailed breakdown. That makes it hard to know how much it’s actually paying Russia. The reality is this market has become extremely opaque & it is near-impossible to get middlemen costs.

🔹 The difference between the landed price — the cost when oil arrives at port — and the free-on-board price, which doesn’t include shipping, insurance and other ancillary fees, is the crux of the problem. Moreover, India often secures its oil after it’s in transit, having already left Russia 🇷🇺 and adding to the complexity of determining the original price.

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💠 Russia now supplies around 35% of India’s 🇮🇳 total oil imports, it was at 1% before Feb. 2022.

💠 Around 70% of Jan. 2023 loading cargoes of Russian Urals was destined to India.

💠 Indian refiners have begun paying for most of their Russian 🇷🇺 oil purchased via Dubai-based traders in UAE dirhams instead of USD.

💠 Around half of Russian crude is now estimated to be sold via its growing "shadow fleet" 🚢 of off-book tankers.

💠 India buying thirty-three (33) times more 📈 Russian oil than a year earlier.

Video courtesy World Affairs

🔹Presidents Vladimir Putin of Russia 🇷🇺 and Bashar Assad of Syria 🇸🇾 held 3-hour long talks in Moscow to discuss a wide range of political and economic issues. Prospects for a comprehensive settlement of the situation in and around Syria was also discussed.

🔹 President Putin said, thanks to joint efforts by Russia & Syria significant success has been achieved in the fight against international terrorism. Russian Defense Minister Sergey Shoigu said there is still a lot of work to be done in order to liberate Syria of international terrorism, but most of this work has been complete.

🔹 President Assad thanked Russia for the assistance rendered during the after effects of the recent earthquakes. He reiterated his support to Russia in the fight with "old and new Nazis."

🔹 Trade turnover between Russia, Syria was up 📈 7% in 2022. The topic of Syria 🇸🇾- Türkiye 🇹🇷 relations was also discussed.

🔹 The Syrian delegation was represented by the ministers of foreign affairs, economy & foreign trade, defense, finance, the general secretary of the cabinet and some others.

Last reported on this channel:

💠 Türkiye 🇹🇷 has agreed to fully withdraw its troops from northern Syria 🇸🇾 following tripartite talks involving Moscow, Ankara and Damascus.

💠 US sanctions on Syria restrict international aid arriving in Syria during the aftermath of recent earthquakes.

💠 Türkiye believes the presence of Iran in ongoing talks between Türkiye, Syria, & Russia is beneficial for resolving the conflict in Syria.

💠 Foreign Policy (FP) claims that Ankara’s real demand is the end of U.S. 🇺🇸 support for Kurds in Syria.

Video courtesy AZgeopolitics.

🔹French 🇫🇷 President E. Macron's gov't rammed a controversial pension reform through parliament without a vote today, Mar. 16th. The gov't lacked a majority in the National Assembly 🏛 to pass the legislation to raise the retirement age from 62 to 64.

🔹Trade unions and political analysts had warned beforehand that adopting the legislation without a vote -- by invoking article 49.3 of the constitution -- risked radicalising opponents and would undercut the law's democratic legitimacy.

🔹At around 8:00 pm (1900 GMT), police 🚓 used tear gas and water cannon to clear protesters away from in front of the parliament at the historic Place de la Concorde.

🔹Several stores were looted during protests in the southern city of Marseille while clashes between protesters and security forces also erupted in the western cities of Nantes and Rennes as well as Lyon in the southeast

Last reported on this channel:

💠 French unions stepped up protests and strikes against pension reform plans on Mar. 7th & Mar. 11th-12th.

💠 At least 1.1 million people protested on the streets of 🇫🇷 Paris & other French cities on 19th January amid nationwide strikes.

💠 France's state-owned nuclear operator EDF is considering using funds from depositors in a centuries-old savings account to finance part of a €50bn plan to build six nuclear reactors.

💠 French Finance Minister called for a new European policy to protect the EU's 🇪🇺 industrial base in the face of massive US subsidies.

💠 France issues vouchers for firewood to help families cope as European traders are evading sanctions with fake paperwork claiming Russian🇷🇺/Belarussian 🇧🇾firewood is from Kazakhstan or Kyrgyzstan.

The de-industrialisation of Germany 🇩🇪 - Part 6.

🔹Eisenwerk Erla, the oldest traditional co. in Saxony, files for bankruptcy after more than 600 years of existence. The co. was first mentioned in a document in 1380 under the name "Hammer in der Erl". Eisenwerk Erla plays a role in Germany's automotive & metallurgy ⚒ sector.

🔹Teusser Mineralbrunnen Karl Rössle GmbH, a mineral water💧manufacturer/bottler, has filed for bankruptcy after 130 years in operation.

🔹The Offenbacher traditional co. Alfred Clouth Lackfabrik GmbH, founded in 1917, now insolvent. The co. is known for its long history for wood 🪤 treatment & interior design.

🔹The Memmingen Brauerei GmbH of Bavaria has is bankrupt after 120 years of brewery 🍻operations.

🔹Feb. '23 monthly bankruptcies increased 📈 10.8% compared to Jan. '23. German local courts reported 14,590 insolvency proceedings for 2022, up 4.3% from 2021.

Previous parts on the de-industrialisation of Germany 🇩🇪:

💠 Part 5 - Feb. '23 - Co.'s operating for over a century goes insolvent.

💠 Part 4 - Jan. '23 starts with a slew of bankruptcies of co.'s in operation for over 100 years.

💠 Part 3 - Nov. '22 - CEO of the Federation of German Industries 🏭 said 1 in 4 German co.'s is considering moving production to other countries.

💠 Part 2 - Nov. '22 - Major department store chain & other co.'s file for bankruptcy.

💠 Part 1 - Oct. '22 - Manufacturers after existing for over 100 years shut down.

Video courtesy France24

🔹Several nations have expressed interest in facilitating international trade in the Indian 🇮🇳 rupee and to make the process smooth. India’s Central Bank (RBI) has given approval for opening 60 special rupee vostro accounts (SRVA) in 18 countries including Russia & Sri Lanka.

🔹The RBI had granted approval to “domestic and foreign authorised dealer banks in 60 cases for opening SRVAs for settling payments in Indian rupees. To settle trade as per the new mechanism, authorised banks in India need to open and maintain SRVAs of the partner trading country’s banks.

🔹The 18 countries that have been allowed to trade in Indian rupees are: Russia 🇷🇺, Singapore 🇸🇬, Sri Lanka 🇱🇰, Botswana 🇧🇼, Fiji 🇫🇯, Germany 🇩🇪, Guyana 🇬🇾, Israel 🇮🇱, Kenya 🇰🇪, Malaysia 🇲🇾, Mauritius 🇲🇺, Myanmar 🇲🇲, New Zealand 🇳🇿, Oman 🇴🇲, Seychelles 🇸🇨, Tanzania 🇹🇿, Uganda 🇺🇬, United Kingdom 🇬🇧.

🔹The process of SRVAs started last year, as an additional arrangement for invoicing, payment, and settlement of exports/imports in cross-border trade transactions in the Indian rupees.

Last reported on this channel:

💠 Indian refiners have begun paying for most of their Russian oil 🛢purchased via Dubai-based traders in UAE 🇦🇪 dirhams instead of USD.

💠 Indonesia 🇮🇩 shows interest in using the Indian rupee as a trading unit.

💠 India & UAE discuss non-oil trade in rupees.

💠 India & Saudi Arabia 🇸🇦 discuss the feasibility of institutionalising Rupee-Riyal trade.

Video courtesy NewsX

🔹Swiss🇨🇭President A. Berset said banking giant UBS is acquiring its smaller rival Credit Suisse for almost $3.25 billion in an effort to avoid further market-shaking turmoil in global banking. A plan for Credit Suisse to borrow up to 50 billion francs ($54 billion) failed to reassure investors & the bank’s customers.

🔹The Swiss gov't, Swiss National Bank (SNB) & regulator FINMA concluded that a UBS takeover was better than letting Credit Suisse fail. Shareholders in Credit Suisse will get one new UBS share for every 22.48 shares they currently hold. Credit Suisse’s 16 billion Swiss francs of Additional Tier 1 securities will be written off to zero.

🔹The Swiss🇨🇭gov't will also grant UBS a 9 billion Swiss franc guarantee against losses arising from certain assets that it will get as part of the deal. The repeated scandals and trading losses at Credit Suisse in recent years spooked investors and customers, leading clients to withdraw $10 billion one day last week.

🔹Since both Credit Suisse and UBS have operations in the US 🇺🇸, the Federal Reserve had worked with the SNB, on the merger. Credit Suisse had already planned, last October, to lay off 9,000 people. The bank had 50,000 employees through the end of 2022, with 16,000 employees in Switzerland.

Last reported on this channel:

💠 Credit Suisse default swaps are 18 times UBS & 9 times that of Deutsche 🇩🇪 Bank.

💠 Credit Suisse to undergo a multi-year restructuring program partly funded by Saudi Arabia's National Bank .

💠 The Swiss 🇨🇭National Bank reported a loss of 132 billion Swiss francs ($143 billion) for 2022.

Video courtesy Bloomberg

🔹Gold prices continue to climb, trading just below their strongest levels in 11 months, as investors turn their attention to safe haven assets amid concerns of further market turbulence triggered by the banking crisis in the US and Europe. It's presently hovering at $1972 USD per ozt.

🔹Historical Gold Price Performance 📈 in USD: 1 month: +7.01%, 6 months: +17.56%, 1 Year +2.57%.

🔹The retail price of gold in Japan 🇯🇵 has hit an all-time high of 9,000 yen ($66.94) per gram.

🔹Gold is now in its 11th straight month of net outflows, seeing 285k ounces leave the COMEX vault so far in March.

🔹China has been watching the West's financial sanctions against Russia 🇷🇺, while learning from Russia’s mistakes & sees the need to de-dollarise as swiftly & discreetly as possible. Whether to protect its citizens’ wealth or its national interests, China cannot be beholden to a banking system that is run by the West. This is why both countries have been so steadily increasing their gold holdings.

Last reported on this channel:

💠 China 🇨🇳 imported 1,343 tons of gold in 2022, the highest import level since 2018.

💠Central banks are scooping up gold 📈at the fastest pace since 1967.

💠 Central banks of China, Turkey, Uzbekistan 🇺🇿 & India 🇮🇳 increase gold purchases.

💠 Prof. Everisto Benyera on the shift in relationship between Africa, gold & the USD.

💠 BRICS 🇧🇷🇷🇺🇮🇳🇨🇳🇿🇦 plan an international reserve currency based on a basket of the national currencies, backed by commodities such as gold.

Video courtesy Sean Foo

🔹The international parliamentary conference ‘Russia-Africa in a Multipolar World’, was held today (Mar. 20th) in Moscow.

🔹President Vladimir Putin said Russia 🇷🇺 will continue helping African nations produce electricity & will share its technologies with them. He also expressed with confidence that Africa will become one of the leaders of the multipolar world.

🔹He continued saying that "African states are constantly increasing their authority and role in global affairs, asserting themselves more and more confidently in politics and the economy,".

🔹The Russian State Duma Chairman V. Volodin expressed that "Russia and African countries are united by shared goals: We stand together for building a multipolar, just world based on respect for the traditions, culture, and history of the countries with which we are building mutually 🤝 beneficial cooperation,"

🔹The Beninese 🇧🇯 delegation said cooperation between Russia and African countries is an important factor of international cooperation to overcome global problems. Burkina Faso's 🇧🇫 delegation said partnership with Russia is a key factor for the security of the country. Russia's Foreign Ministry said Russia is ready to help Africa become a strong pole of power in the international arena.

🔹Russia’s 🇷🇺 First Deputy Minister of Industry & Trade V. Osmakov said, "a specialized Russian leasing company will most probably be created in Africa. We are currently choosing the location for this leasing company as the African market has its specifics,".

Video courtesy Intel Republic.

🔹Russia will supply grains/agricultural exports to needy countries of Africa free of charge in the case that Russia does not renew the UN brokered grain deal.

🔹The West has not fulfilled previous guarantees of removing all barriers to the export of Russian grain & fertilizers, which is part of the July 2022 deal. Last week, the grain 🌾 deal was extended for 60 days instead of 120 days.

🔹Western media & politicians continue to blame Russia for a world-wide food crisis. However, under the deal European countries received about 45% of grain exported from Ukraine, while the share of African countries was just 3%.

🔹Western countries refuse to connect the Russia's Rosselkhozbank to SWIFT again out of fear that it will be used not only for transactions in the agriculture sector. This has prevented African countries from being able to pay for imports of Russian grain/fertilizers.

🔹Russian grain and fertilizer have been stuck at European ports 🏗 due to western sanctions on shipping payments & insurance. Some of these ships were destined for African countries.

Last reported on this channel:

💠 Russia 🇷🇺 extended the grain deal for 60 days instead of 120 days because of failures to remove restrictions on Russian agricultural exports.

💠 Most grain from Ukraine goes to the EU 🇪🇺 for animal feed at dumping prices, not to the poorest countries.

💠 Russia resumes participation to the Black Sea grain deal after guarantees to lift restrictions on Russian exports of food & fertilizers.

💠 Russia suspends grain deal after ships in the Black Sea were attacked by Ukraine 🇺🇦.

💠 Grain 🌾 deal hypocrisy by western countries, exposed.

💠 Chairman of the African Union visits Russia to discuss food crisis in Africa.

💠 Grain deal signed with safe routes 🚢 made in Black Sea. Previous deal was botched by Ukraine.

Video courtesy AZgeopolitcs
(President Putin at the international parliamentary conference ‘Russia-Africa in a Multipolar World’)

🔹UAE 🇦🇪 president His Highness Sheikh Mohamed bin Zayed Al Nahyan, told his Syrian counterpart it was time for diplomatically isolated Damascus to be reintegrated into the wider Arab region. Bashar Al Assad, President of the Syrian Arab Republic 🇸🇾, arrived yesterday (Mar 19th) in the UAE on an official visit accompanied by his wife, the First Lady of Syria Asma Al Assad.

🔹The Emirati 🇦🇪 president called for efforts to facilitate the repatriation of Syrian refugees & endorsed engagement between Damascus and Ankara 🇹🇷, which is now working towards a rapprochement with Assad after years of supporting rebels fighting his gov't.

🔹Discussions on bringing Syria back into the Arab League are gaining momentum, as well as on ways to bring more economic aid into the country. The presence of Turkish troops in northern Syria is another issue that the UAE is helping mediate with Assad.

🔹Sheikh Mohamed offered his condolences to the Syrian President and the people of Syria 🇸🇾 for the earthquake victims. Al Assad emphasised that the UAE's role is consistent with the Syrian vision, which is aimed at strengthening inter-Arab relations in preparation for the joint Arab action.

Last reported on this channel:

💠 President Assad visited Russia 🇷🇺 to discuss political/economic issues on the Syrian crisis.

💠 Türkiye 🇹🇷 has agreed to fully withdraw its troops from northern Syria following tripartite talks involving Moscow, Ankara and Damascus.

💠 US 🇺🇸 sanctions on Syria restrict international aid arriving in Syria during the aftermath of recent earthquakes.

💠 Türkiye believes the presence of Iran in ongoing talks between Türkiye, Syria, & Russia is beneficial for resolving the conflict in Syria.

Video courtesy UAE Forsan