🔹Authorities nationalized all assets of a subsidiary of the American oil and gas giant Exxonmobil in Chad 🇹🇩. ExxonMobil said it closed a $ 407 million deal to sell its assets in Chad & Cameroon to Savannah Energy. USA.

🔹The gov't of Chad challenged the agreement, stating that the final terms are different from those presented by ExxonMobil & warned that it could appeal to the court to block the purchase and take further steps to protect its interests. The Doba project and the Chad-Cameroon oil pipeline are considered vital and sovereign assets for Chad. Chad, which has the 10th largest reserves in Africa, exports 90% of its oil 🛢.

🔹🇺🇸 Exxon's assets in the country include a 40% stake in the Doba oil project, which comprises seven producing oilfields with combined production of 28K bbl/day, and a stake in the 620-mile Chad 🇹🇩-Cameroon 🇨🇲 oil pipeline.

🔹Savannah said it plans to pursue all its legal rights to contest Chad’s move. “The Conventions are subject to the jurisdiction of an ICC tribunal, seated in Paris and the co. intends to pursue all of its legal rights.”

🔹In 2021,Mahamat Idriss Deby, a 4-star general first headed the transitional military council after the death of his father the president. The next day he was appointed acting president of the republic and the functions of head of the Chadian Armed Forces which are are among the most powerful in the Sahel region ( Burkina Faso, Mauritania, Mali, Niger and Chad ).

🔹Protests grow after Israeli 🇮🇱 PM B. Netanyahu, today (Mar. 26) dismissed Defense Minister Yoav Gallant after he said the gov't should delay moving forward with a highly-contested plan to overhaul the country's judicial ⚖️ system. He had said countrywide protests against the judicial overhaul, which have included growing numbers of military reservists, were also affecting regular forces and undermining national security.

🔹Tens of thousands of Israelis have rallied in Tel Aviv against a controversial judicial overhaul. The Tel Aviv protest swelled yesterday to around 200,000 demonstrators. Israel's coalition gov't announced judicial changes in Jan. '23, which the gov't says is necessary to rebalance powers between lawmakers & the judiciary.

🔹Netanyahu recently vowed during a televised speech to push forward with his judicial overhaul despite a conflict of interest agreement barring him from making changes to Israel's judicial system while on trial for three counts of corruption.

🔹According to a JP source, the Israeli 🇮🇱 Defense Force (IDF) is currently at the proper level of readiness for any security challenges by virtue of a carefully calibrated mix of deterring IDF reservists from striking, while keeping an open dialogue to make officers feel their voices are heard.

🔹Kenya 🇰🇪 has been facing is a US dollar 💵 shortage in the country, making the importation of goods and services to the country difficult. President William Ruto directed that moving forward, oil brokers will not hoard dollars as the gov't will now be making purchases of oil using Kenyan shillings.

🔹Ruto further exposed a clique of Kenyans who were hoarding dollars in an unethical quick money-making scheme. He explained that brokers will no longer distort the market after the reintroduction of the exchange market.

🔹The opposition party have been encouraging protests against the gov't despite police banning them as illegal. During last Monday's protests, several businesses and properties were destroyed or looted.

🔹Kenya 🇰🇪 expects to finish talks for a trade and investment deal with the US 🇺🇸 by the end of this year and to sign the agreement by April 2024. Former President Trump's admin began negotiations in 2020 for a full free trade agreement with Kenya to lower tariffs between the two nations. But the Biden admin, did not resume those talks.

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🔹India has given approval for opening a special rupee vostro account with Kenya for facilitating international trade in the Indian 🇮🇳 rupee.

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

Video courtesy NTV Kenya

🔹Nickel resumed Asian-hours trading on the London Metal Exchange (LME) today Mar. 27th, more than a year after the LME suspended trading & canceled billions of dollars worth of deals in response to a runaway short squeeze.

🔹Last week, the LME invalidated over US$2 million 💵 of nickel traded in nine contracts, that belong to JPMorgan Chase & Co. This nickel at the LME kept in the form of briquettes in bags turned out to be just bags of stones.

🔹This has triggered mass inspections by warehouse staff having to rush to check tens of thousands of two-ton bags of nickel. The LME said a few days ago, that it has no reason to believe any other LME-approved facility is affected.

🔹Indonesia's nickel boom ⛏ (fuelled by the 'green' energy push), threatens farmers' land rights and harms the environment. Farmers face the prospect of losing their land and livelihood. Contaminated soil from nickel mines brought down the hills by rain has turned the coastal waters of the Pacific Ocean a deep red colour

🔹Soaring global demand for nickel, used in lithium-ion batteries & stainless steel has pushed major users to zero in on Indonesia 🇮🇩, Southeast Asia's largest economy. Russia 🇷🇺 accounts for 7% of global nickel and is one of the world's biggest exporters of nickel traded on the LME. Sanctions have worsened the market volatility.

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💠 Last year, a massive short squeeze on the nickel market saw prices move from $25,000 USD per ton to over 100,000 USD in 2 days in a market that normally moved within a single digit percentile range per day. Margin requirements were raised and trading was halted as billions were lost by holders of short positions.

💠 IEA estimated that the world will need roughly 20 times 📈 as much nickel & cobalt by 2040 as it had in 2020.

Video courtesy Bloomberg & Wion

🔹Russia’s 🇷🇺 diesel exports are on course to hit a record this month despite EU sanctions depriving the country of its biggest market. Türkiye 🇹🇷, Morocco 🇲🇦 and other nations have stepped up purchases, though some cargoes from Russia are also being held in floating storage. Russian refiner/producers offer deep discounts.

🔹Shipments of diesel-type fuel out of Russia during the first 19 days of March stood at about 1.5 million barrels a day. If that rate is maintained, this month will see the highest exports 📈 in data going back to the start of 2016.

🔹Saudi Arabia 🇸🇦 is importing millions of barrels of diesel from Russia, despite having more than enough of its own. It imported almost 2.5 million barrels of diesel-type fuel from Russia in the first 10 days of March, far more than at any other time in the last six years. It is speculated that Saudi traders 🚢 are turning a profit by selling discounted Russian fuel to Europe at a higher price.

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💠 Europe imported a 7-year record volume of diesel ⛽️ from the Middle East & Asia last month.

💠 Indian 🇮🇳 refiners are gobbling discounted Russian crude grades for re-export as diesel fuel and other distillates.

💠 The EU 🇪🇺 is floating a plan to cap the price of Russian diesel at $100 a barrel.

🔹 Russia 🇷🇺 and India 🇮🇳 are considering the possibility of creating a transarctic container line and building processing facilities near the Northern Sea Route (NSR). "The creation of an alternative way of delivering goods from India to Europe was discussed - not along the southern or western routes, but along the eastern, through the NSR, using both Russian and Indian port facilities.

🔹 Russia wants the NSR, which runs along Russia’s northern coastline and is the shortest shipping 🚢 route between East Asia and Europe, to become a major shipping lane and has invested heavily in infrastructure there. Rosatom is discussing with Lukoil and Gazprom Neft oil companies on the possible redirection of part of the Arctic oil🛢 from the west to the east along the NSR.

🔹It is not currently used in winter due to thick ice. But spurred on by the warming of the Artic, Moscow plans to begin year-round shipping by end of this year. Russia is operating more icebreakers along its Arctic coast now than at any time in the country's three-decade, post-Soviet history.

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💠 Russia 🇷🇺 & Iran 🇮🇷 are building a new transcontinental trade route, the International North-South Transport Corridor (INSTC), across the Caspian Sea that connects Moscow with Asian and Persian markets.

Video courtesy United24

🔹 Saudi Arabia's 🇸🇦 King Salman authorized during a Cabinet session, a MoU to grant the Arab country the status of a dialogue partner in the Shanghai Cooperation Organization (SCO). The decision comes one day after China's President Xi Jinping held a phone call with Saudi Crown Prince Mohammed bin Salman.

🔹 Belarus 🇧🇾 discusses process to move from observer status to full member of SCO. This ascension is supported by Iran.

🔹Members of BRICS 🇧🇷🇷🇺🇮🇳🇨🇳🇿🇦 and the SCO are interested in joint work in the Arctic region. India the current chair of the SCO, is holding a host of events leading up to the SCO summit this summer. The SCO accounts for 42% of the global population.

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

💠 Chinese President Xi Jinping wants China 🇨🇳 to cooperate more with SCO member Turkmenistan 🇹🇲 on energy.

💠 "Interested SCO member states" agreed a "roadmap for the gradual increase in the share of national currencies in mutual settlements", outside western currencies/payment systems

💠 Iran proposed a new currency for trade with SCO members.

🔹 China 🇨🇳 and Brazil 🇧🇷 have reached a deal to trade in their own currencies. “The expectation is that this will reduce costs... promote even greater bilateral trade and facilitate investment,”. China is Brazil’s biggest trading partner, with a record US$150.5 billion (S$200 billion) in bilateral trade last year.

🔹For the exporter, trade can continue to be carried out in dollars 💵. But for those who choose to sell between Brazillian Real and Chinese Renminbi, a kind of currency instrument will be established in Brazil to guarantee the conversion and liquidity between the two currencies. The clearing house must be established in a Chinese bank in Brazil, which has now been designated by the Bank of China, Beijing. China has the same system in several countries around the world, including Chile 🇨🇱 and Argentina 🇦🇷.

🔹China has been Brazil's biggest trade partner for 14 consecutive years, and Brazil is the first Latin American country to hit a trading volume of over $100 billion USD with China.

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💠 China 🇨🇳 & Brazil 🇧🇷 set up yuan clearing arrangement in to facilitate cross-border transactions.

💠 Brazil & Argentina 🇦🇷 wants to "advance discussions on a common South American currency" to be used for financial and trade flows.

Video courtesy Glen Beck

🔹The new Bank of Japan's 🇯🇵 (BoJ) governor Kazuo Ueda is likely to set the stage for the inevitable end to a decade of ultra-low interest rates, that punished domestic savers and sent a wall of money 💴 overseas. . This flow reversal, risks sending shockwaves through the global economy.

🔹Japanese investors are the biggest foreign holders of US 🇺🇸 gov't bonds and own everything from Brazilian debt to European power stations to bundles of risky loans stateside. Japanese investors sold a record amount of overseas debt last year as local yields rose on speculation that the BOJ would normalize policy.

🔹The BoJ reduces the minimum size of its planned Japanese gov't bond purchases for all maturities over the next three months.

🔹The IMF proposed to the BoJ to allow for more flexibility in long-term Japanese gov't bond yields that have been kept at depressed levels amid the "costly" side-effects of prolonged monetary easing.

🔹Japan is stepping up efforts toward issuing a digital yen (CBDC) with the creation of a gov't advisory panel and the launch of a pilot programme.

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💠 The 🇯🇵 BOJ made massive unscheduled bond purchases after it announced a widening of the range in which the 10-year yield can trade to about 0.5% from 0.25%.

Video courtesy Fox Business & FCCJ

🔹An official meeting of all The Association of South East Asian Nations (ASEAN) 🇧🇳 🇰🇭 🇮🇩 🇱🇦🇲🇾 🇲🇲 🇵🇭 🇸🇬 🇹🇭 🇻🇳 Finance Ministers & Central Bank Governors took place in Indonesia. Top of the agenda were discussions to reduce dependence on the US Dollar, Euro, Yen, and British Pound from financial transactions and move to settlements in local currencies.

🔹This would be done through the Local Currency Transaction scheme. This is an extension of the previous Local Currency Settlement scheme that has already begun to be implemented between ASEAN members. Of the ASEAN nations, just Singapore (US ally) has enforced sanctions on Russia, while all other ASEAN nations continue to trade with the country.

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💠 Cambodian 🇰🇭 PM Hun Sen at the ASEAN Summits, said, there is progress with negotiations over the South China Sea.

💠 Over the past decade, the Chinese 🇨🇳 side initiated more than 130 cooperative proposals or projects under the ASEAN Plus Three cooperation framework and most of them had been implemented.

💠 Russia’s 🇷🇺 FM Lavrov warned that NATO is now claiming that they’ll play a leading role [in the Asia-Pacific region] & are already shifting the so-called defensive line to the South China Sea. They are promoting an 'Indo-Pacific Strategy' to contain China & Russia.

Video courtesy Shanghai Eye

🔹Hungary's 🇭🇺 FM Péter Szijjártó, said Hungary respected the re-election of Milorad Dodik, the Serbian member of Bosnia-Herzegovina’s presidential troika. He rejected the US 🇺🇸 State Department’s latest report on Bosnia-Herzegovina, by saying it was “outrageous that they should make statements about other countries’ internal affairs and situation”.

🔹Hungary is the only EU member state & Türkiye 🇹🇷 the only NATO member state without an invite to the US's Summit for Democracy. Leaders from 121 countries were invited to the mixed virtual and in-person summit in Washington.

🔹Hungarian businesses have now been forced to leave Russia. Hungarian co.'s that continued to do business in Russia 🇷🇺 were facing discrimination in Ukraine 🇺🇦. Authorities in Kiev banned the sale of medication produced by Hungarian pharmaceutical firms Gedeon Richter and Egis, and of called for a boycott of energy company MOL.

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💠 USAID 🇺🇸 chief, S. Power accuses Hungary of eroding relations with the US.

💠 Hungary believes that the UN 🇺🇳 should give the framework for the investigation into the sabotage of the Nord Stream pipelines.

💠 Hungary 🇭🇺 accused of purging NATO officers from it's military.

💠 Hungary supports Türkiye 🇹🇷 in a call for negotiations with Russia.

💠 Hungary claim Germany 🇩🇪 is blocking the upgrade of Hungary's Paks nuclear facility by Russia.

💠 Ukraine 🇺🇦 disproportionately connoscripting ethnic Hungarians in Transcarpathia.

💠 The EU 🇪🇺 withholds both Hungary's budgeted & post-pandemic recovery funds as punishment.

Video courtesy About Hungary

🔹The PM's of Poland 🇵🇱, Slovakia 🇸🇰, Hungary🇭🇺, Romania🇷🇴, and Bulgaria 🇧🇬 sent a letter to the European Commission and its President Ursula von der Leyen, noting that the channels intended to deliver Ukrainian products to their destinations are not working as expected.

🔹The gov'ts of these countries are facing pressure and growing protests from farmers who are concerned about falling prices and a lack of storage facilities for this year's harvest due to an overabundance of Ukrainian 🇺🇦grains. Mounting anger & protests in the Polish (video) countryside over an influx of Ukrainian grain poses a major headache for Poland’s ruling nationalist Law and Justice party in an election year.

🔹These PM's conveyed that tariffs on Ukrainian agricultural imports may need to be reintroduced if an influx of products that is pushing down prices in EU 🇪🇺 markets cannot be stopped by other means. Logistical bottlenecks mean large quantities of Ukrainian grains, which are cheaper than those produced in the EU, have ended up in central European states, hitting prices and sales of local farmers.

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💠 Russia 🇷🇺 renews grain deal that ensures Ukrainian grain is shipped through the Black Sea to the world.

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

💠 Ukraine pursuing agreements with Lithuania, Latvia, & Poland to help ship wheat using their ports.

💠 Grain 🌾 deal hypocrisy by western countries, exposed. Alternative routes other than the Black Sea not mentioned by the West.

Video from one of the rural Polish farmers protests in Szczecinie, Poland on 23 Mar. 2023. Courtesy @kubabuchajczyk

🔹 Saudi Arabia 🇸🇦 will voluntarily reduce its oil production by 500,000 bpd from May until the end of 2023 in coordination with other OPEC members. Russia 🇷🇺 would extend a voluntary cut of 500,000 bpd until the end of 2023. The UAE, Kuwait, Iraq, Oman and Algeria said they would voluntarily cut output over the same time period.

🔹Kurdistan’s crude oil exports, around 400,000 bpd were halted recently by Iraq 🇮🇶 during a dispute against Turkey 🇹🇷 over crude flows from Kurdistan.

🔹Crude oil production from OPEC declined by 70,000 barrels per day (bpd) in Mar. compared to Feb.

🔹Crude oil production in the US 🇺🇸 rebounded in January to the highest level the US has seen since March of 2020.

🔹Despite a new export tax, Brazilian 🇧🇷 oil exports have jumped to a monthly record-high in March.

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💠 Saudi Arabia will not sell oil 🛢 to any country that imposes a price cap on its supply.

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

💠 Russia now supplies around 35% of India’s 🇮🇳 total oil imports.

💠 Russia cuts oil 📉 production in March by 500,000 bpd.

💠 The Biden 🇺🇸 admin plans to sell 26 million barrels of crude oil from the SPR.

🔹India's 🇮🇳 new foreign trade policy, adopted this month, will take steps to support international trade using the rupee currency, as it looks to boost exports amid slowing global trade 🚢. India is prepared to trade in rupees with nations facing a shortage of dollars 💵 so as to "disaster-proof" them and effectively boost its exports.

🔹India is also launching a new amnesty scheme for one-time settlement of defaults on export obligations & will run until September 2023.

🔹 Bangladesh's 🇧🇩 ministry of commerce has placed a written recommendation at the last cabinet meeting regarding the possibility and opportunity of using rupee instead of the US dollar.

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💠 India opens 60 special rupee vostro accounts in 18 countries to facilitate rupee payments.

💠 More Asian countries, such as Indonesia 🇮🇩 & the UAE 🇦🇪, are showing interest in using the Indian Rupee as a trading unit.

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

💠 India 🇮🇳 has been exploring a rupee trade settlement mechanism with Russia.

💠 India & Saudi Arabia 🇸🇦 discuss the feasibility of institutionalising Rupee-Riyal trade, & introduction UPI & Rupay cards in the kingdom.

Video - Dr. Ankit Shah

🔹Russia's 🇷🇺 largest oil producer Rosneft and India's top refiner Indian 🇮🇳 Oil Corp agreed to use the Asia-focused Dubai 🇦🇪 oil price benchmark in their latest deal to deliver Russian oil to India.

🔹The decision by the two state-controlled companies to abandon the Europe-dominated Brent benchmark is part of a shift of Russia's oil sales towards Asia after Europe shunned Russian oil.

🔹Both benchmarks are denominated in dollars 💵 and set by S&P Platts, a unit of U.S.-based S&P Global Inc, but Brent is mostly used by European oil majors and traders, whereas Dubai is heavily influenced by Asian and Middle Eastern oil trading.

🔹A new contract includes Urals crude 🛢, shipped from Russia's European ports of Primorsk, Ust-Luga and Novorossiysk, and Sokol oil exported from Sakhalin which will be sold at a discount of $8-$10 per barrel to Dubai quotes on a delivered basis.

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

💠 The UAE 🇦🇪shows interest in using the Indian Rupee as a trading unit.

💠 India opens 60 special rupee vostro accounts in 18 countries, including Russia 🇷🇺 to facilitate rupee payments.

💠 India's Oil Min. - "India is not obligated to buy Russian oil at rates below the price cap imposed by the G7 & other Western nations".

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

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

🔹The EU 🇪🇺 has been looking into the 'legal' options for using Russia's 🇷🇺 300 billion euros ($325 billion) of foreign reserves frozen in the bloc, including investing them to generate returns. The European Commission expects to generate returns of around 2.6% from investing assets belonging to Russia’s central bank frozen under EU sanctions.

🔹Such an unprecedented attempt raises legal, political and economic questions, and EU countries last month set up a working group to look into what can be done. In accordance with international law, Russia's gold and foreign exchange reserves are protected by sovereign immunity, and the involvement of oligarchs in the Kremlin's criminal regime still needs to be proven in court.

🔹A trio of US 🇺🇸 political & legal experts has argued that moral logic and existing international law is sufficient for the US, EU and G7 to confiscate the frozen funds and give them to Ukraine 🇺🇦.

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💠 The EU disregards that assets of private entities are considered foreign investments, which enjoy protection against expropriation without compensation & a right to fair & equitable treatment under international treaties that Russia has with a lot of EU countries.

💠The US/EU has undermined ‘Lex Mercatoria’ (Latin – ‘Merchant Law’). The autonomous legal order of international economic relations for trade & rules for settling disputes. The west has now now destroyed, how money & currencies function in relationship to trade & private property rights.

Video courtesy Geopolitics & Empire. Former South African 🇿🇦 President Thabo Mbeki.

🔹President Kais Saied of Tunisia 🇹🇳 instructed the country’s FM Nabil Ammar to initiate procedures that would appoint a new ambassador to Syria 🇸🇾. This is the latest move towards Arab states' normalisation with the gov't of Bashar al-Assad.

🔹Tunisia was among several Arab countries that severed their ties with Assad a decade ago, but Tunis returned a limited diplomatic mission to Syria in 2017. Saied had previously announced that Tunisia would strengthen ties with Syria, & in February he decided to raise the level of Tunisian diplomatic representation in Damascus.

🔹Meanwhile, Egypt 🇪🇬 is working with Saudi Arabia 🇸🇦 to facilitate Damascus’ return to the Arab League. On Saturday, Syria's FM met his Egyptian counterpart in Cairo for the first such visit in more than a decade.

🔹US 🇺🇸 Assistant Secretary of State said to Arab countries that they should 'get something in return' from Syria for normalisation.

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💠 UAE 🇦🇪 President M. bin Zayed Al Nahyan, visited by Syrian Preisident B. Assad. UAE calls for Damascus to be reintegrated into the wider Arab region.

💠 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 The Cradle: UN spokesperson unaware of US soldiers in Syria, unable to say if it violates international law.

🔹Israeli 🇮🇱 forces brutally assaulted dozens of Palestinian worshippers inside Al-Aqsa Mosque 🕌 in occupied East Jerusalem on Tuesday (4th April) night and forcibly removed them from the site where they were observing the holy month of Ramadan.

🔹Dozens of heavily armed officers stormed the site before firing tear gas and stun grenades into the Qibli prayer hall - the building with the silver dome - where hundreds of men, women, elderly people and children were staying overnight to pray.

🔹Israeli officers then beat worshippers with batons and riot guns, wounding many, before arresting them. Their conditions were not immediately made clear. Israeli police released a statement saying it detained dozens of "rioters" from Al-Aqsa Mosque to restore order at the site.

🔹Jordan 🇯🇴, which acts as custodian of Jerusalem’s Christian and Muslim holy sites under a status quo arrangement in place since the 1967 war, condemned Israel’s “flagrant” storming of the compound. Egypt 🇪🇬 called for an immediate halt to Israel’s “blatant assault on worshippers”.

🔹Palestinians 🇵🇸 are also worried about far-right Israeli movements that want to demolish the Islamic structures in the Al-Aqsa Mosque compound and build a Jewish temple in their place.

Video courtesy Maajid Nawaz & Husam Zomlot

🔹 China 🇨🇳 is open to talks with Malaysia 🇲🇾 on forming an Asian Monetary Fund, said PM Anwar Ibrahim, reviving a decades old proposal to reduce reliance on the US dollar, despite ongoing issues of disputes over the South China Sea which could drive a wedge between the countries.

🔹 PM A. Ibrahim told the Malaysian parliament, “...there is no reason for Malaysia to continue depending on the dollar,”. Malaysia’s central bank is already working on enabling the two nations to negotiate on trade matters using the ringgit and renminbi.

🔹PM A. Ibrahim made a big splash of his maiden bilateral visit to China last week, when he oversaw the signing of 170 billion ringgit (US$38.6 billion) worth of investment commitments by Chinese firms in various sectors. It was a record figure spread across 19 separate deals signed between Chinese and Malaysian businesses.

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💠 An official meeting of all ASEAN nations' 🇧🇳 🇰🇭 🇮🇩 🇱🇦🇲🇾 🇲🇲 🇵🇭 🇸🇬 🇹🇭 🇻🇳 Finance Ministers & Central Bank Governors was held to discuss reduced dependence on the US Dollar, Euro, Yen, and British Pound from financial transactions and move to settlements in local currencies.

💠 India 🇮🇳 has given approval for opening 60 special rupee vostro accounts (SRVA) in 18 countries including Malaysia for settling payments in Indian rupees.

💠 The US 🇺🇸 sanctioned Iran-based petrochemical manufacturers and subsidiaries in Malaysia.

💠 Malaysia accused of helping sell Russia’s 🇷🇺 crude using new “shadow” shipping & financing infrastructure, resulting in Malaysia exporting twice as much crude to China it can produce.

Video courtesy RT