In a bold yet arguably symbolic move, the United States and its allies recently imposed new sanctions on Iran. Analysts argue this is more psychological grandstanding than practical action, given the difficulty in tightening restrictions further on the Islamic Republic.This renewed push for sanctions, primarily driven by the US and the UK, followed Iran’s significant drone and missile retaliation against Israel for bombing Iran’s consular sector in Damascus. According to the Financial Times, the US and EU aimed to increase pressure on Tehran to deter Israel from escalating the conflict.Jake Sullivan, the White House national security adviser, announced that the…
Author: BRICS+ News Services
In a landmark decision, Saudi Arabia has opted not to renew its 50-year-old petro-dollar agreement with the United States, which expired on June 9, 2024. This move marks a pivotal change in the kingdom’s economic strategy and has significant implications for the global financial system.The original deal, signed on June 8, 1974, was a cornerstone of U.S.-Saudi relations, establishing joint commissions on economic cooperation and Saudi military needs. American officials at the time believed this agreement would encourage Saudi Arabia to increase oil production and foster stronger economic ties between Washington and the Arab world.Saudi Arabia’s decision not to renew…
Ladies and gentlemen, welcome to the latest episode of “Political Circus.” Today, we’re diving into the mess that is South Africa’s post-election landscape. The African National Congress (ANC), once the unchallenged rulers, are now scrambling to stitch together a unity government. And the irony? They need to bring together factions with goals as wildly contradictory as seizing white-owned farms and mines, ditching Black empowerment policies, and tearing up the constitution.How in the world is the ANC going to reconcile these polar opposites? Their ability to harmonize these conflicting visions will determine not only the government’s stability but also its policy…
Old predictions about China’s impending economic collapse still circulate. The latest such prediction comes from President Joe Biden, who claimed that China’s economy is on the brink. “Where is it going to grow? You’ve got an economy that’s on the brink there. The idea that their economy is booming? Give me a break,” Biden told Time magazine.It’s almost laughable. The same alarmist rhetoric from decades ago is still being peddled, and it’s the usual suspects in Washington doing the fearmongering. These politicians should give the world a break with their baseless China-bashing.It’s always the same crowd in D.C. that sees…
With the inclusion of Egypt, Ethiopia, Saudi Arabia, the United Arab Emirates, and Iran in early 2024, the BRICS group has significantly expanded its influence on the global stage. Representing 46% of the world’s population and 29% of global GDP, this enlargement underscores the group’s growing importance. As several BRICS+ nations face pivotal elections in 2024, questions arise about the future trajectory and strategic advantages of this diverse coalition. Jean-Joseph Boillot, Associate Research Fellow at IRIS specializing in the Indian economy and emerging markets, provides insight into these developments.Political Shifts and International AgendasThe year 2024 marks a critical electoral period…
Cyril Ramaphosa played a pivotal role in the peaceful transition from apartheid to democracy in South Africa. Now, 30 years after the first free elections in 1994, he faces the challenge of managing a second critical transformation for his nation. Following three decades of single-party rule, the African National Congress, under Ramaphosa’s leadership, lost its overall majority in the recent national elections. The shift from single-party governance to multi-party leadership may be less dramatic than the end of white supremacy, but it is crucial for South Africa’s future as a functioning state and peaceful democracy. Despite the ANC’s historic low…
US Secretary of State Antony Blinken expressed optimism regarding statements from Hamas spokespeople welcoming the UN resolution, emphasizing the importance of the position of leadership on the ground in Gaza. Leaders, foreign ministers, and officials from 75 countries, as well as international organizations such as the International Committee of the Red Cross, will be participating in discussions. The organizers highlighted the dire humanitarian situation in Gaza, emphasizing the urgent need for assistance due to widespread destruction, hunger, and trauma. Secretary Blinken’s visit aims to negotiate a ceasefire to alleviate suffering in Gaza, release hostages, and increase humanitarian aid. This agreement…
The Ontario Superior Court of Justice has ruled that Ukraine International Airlines (UIA) is obligated to provide full compensation to the families who lost loved ones in the tragic downing of UIA Flight 752 in Iran in January 2020. The court’s decision, issued on Tuesday, holds UIA liable for damages to the families of 21 passengers who perished in the incident, which occurred when the flight was mistakenly shot down by Iranian military forces. Justice Jasmine Akbarali determined that UIA exhibited negligence in ensuring the safety of its passengers by failing to conduct a thorough assessment of the security situation…
After several months of delays, China is set to convene the third plenary session of the 20th Central Committee next month. This meeting is typically associated with significant economic reforms or policy announcements. The postponement of the Third Plenum in 2023 sparked speculation about potential divisions or indecision within the Chinese Communist Party under President Xi Jinping, particularly following the lackluster performance of the Chinese economy after the lifting of Xi’s “Zero Covid” policy in late 2022. The timing of this meeting coincides with conflicting narratives surrounding the Chinese economy in the international media. One narrative highlights structural challenges and…
Today’s quote of the day comes from the response of internet users to a recent video released by the Communist Youth League criticizing the phenomenon of “lying down.” This term refers to people who are seen as slacking off, giving up, or dropping out of society to cope with the intense competition and exploitation in the workforce. The video, titled “CYL Central Committee: ‘Only a Tiny Minority Are Truly Lying Down, While the Vast Majority Are Working Tirelessly,'” sparked controversy as an online survey revealed that 93 percent of respondents identified with the “tiny majority” of slackers, while only seven…