Bangladesh to try ‘alternative measures’ for Russia trade amid sanctions

Commuters walk and line up at counters at Kamalapur railway station in the Bangladeshi capital Dhaka. (AFP)
Commuters walk and line up at counters at Kamalapur railway station in the Bangladeshi capital Dhaka. (AFP)
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Updated 04 March 2022

Bangladesh to try ‘alternative measures’ for Russia trade amid sanctions

Commuters walk and line up at counters at Kamalapur railway station in the Bangladeshi capital Dhaka. (AFP)
  • Russia’s invasion of Ukraine followed by host of measures to cut Moscow off from world’s financial arteries
  • Moscow one of Dhaka’s main trading partners, developing Bangladesh’s first nuclear power plant

DHAKA: The Bangladeshi government was likely to continue trade with Moscow, experts said on Friday, after Dhaka’s announcement that it would try “alternative measures” in the face of international sanctions following Russia’s invasion of Ukraine.

Russia is one of Bangladesh’s main trading partners and its biggest supplier of wheat and fertilizer. It also has a major presence in the country’s energy sector, and is developing its first nuclear power plant, at Rooppur.

Russia’s multipronged assault on Ukrainian territory, which began on Feb. 24, has been followed by a host of measures to cut Moscow off from the world’s financial arteries, including banning some of its banks from the Swift payment system that is key for the transaction of money worldwide.

Bangladeshi Finance Minister Mustafa Kamal told reporters on Thursday that while Dhaka wanted the war to stop, it would “have to take alternative measures through currency swap” if it was not able to pay Russia due to the Swift ban.

In a currency swap, countries exchange their local currency against any third currency, except the US dollar.

Faruq Mainuddin, executive committee chairman of Brac Bank, one of Bangladesh’s key banks for small- and medium-sized businesses, told Arab News that Russia was a big market that Bangladesh “can’t afford to lose.”

“In this case currency swap can be a suitable option for us,” he said. “If the economic sanctions on Russia continue for a longer period, Bangladesh may resort to the Chinese currency, yuan, for continuing trade with Russia.”

Both Bangladesh and China were among the countries that abstained from voting when the UN General Assembly on Wednesday overwhelmingly demanded that Moscow stop fighting and withdraw its military forces from Ukraine.

Mainuddin said that with alternative options Bangladesh would, however, incur higher trading costs as “no other currency has a stable rate in international markets other than US dollars.”

“Businesses will suffer if they are forced to switch over to other currencies,” he added.

Zahid Hussain, former lead economist of the World Bank in Dhaka, told Arab News that the situation was “very complicated” for Bangladesh.

“At present there are seven Russian banks which came under the economic sanctions and were barred from Swift banking channels. But there are 300 more banks in Russia. We may consider initiating transactions with these banks,” he said.

“Our finance ministry should initiate strong monitoring and analysis of the situation to calculate the costs of doing international transactions with Russia amid these sanctions.”

He pointed out that sanctions would also affect the construction of the Rooppur nuclear plant, a $13.5 billion project financed mostly by Russia which is scheduled to be fully operational by 2024.

“We are yet to receive many (items of) heavy equipment from Russia for the RNPP,” he said. “Even if Russia can prepare the equipment, I don’t know if they can transport it to Bangladesh.”

 


Landmark Hong Kong national security trial starts 2 years after arrests

Landmark Hong Kong national security trial starts 2 years after arrests
Updated 06 February 2023

Landmark Hong Kong national security trial starts 2 years after arrests

Landmark Hong Kong national security trial starts 2 years after arrests
  • The 31 who pleaded guilty, including former law professor Benny Tai and activist Joshua Wong, will be sentenced after the trial
  • Western governments have criticized the 2020 national security law as a tool to crush dissent in the former British colony

HONG KONG: Sixteen Hong Kong pro-democracy figures face trial on Monday, more than two years after their arrest, in what some observers say is a landmark case for the city’s judicial independence under a national security law imposed by Beijing.
The defendants are those who pleaded not guilty out of 47 arrested in a dawn raid in January 2021 and charged with conspiracy to commit subversion for participating in an unofficial primary election in 2020.
Thirteen of those arrested were granted bail in 2021, while the other 34 — including 10 who pleaded not guilty — have been in pre-trial custody on national security grounds.
Western governments have criticized the 2020 national security law as a tool to crush dissent in the former British colony. Chinese and Hong Kong authorities say the law, which punishes subversion, collusion with foreign forces and terrorism with up to life in prison, has brought stability to the Asian financial hub after huge pro-democracy protests in 2019.
Prosecutors have described the primary election — held to select the strongest candidates to contest an upcoming legislative election — as a “vicious plot” to subvert the government and to wreak “mutual destruction” on the city by taking control of the city’s parliament.
The lengthy, high-profile case has drawn international criticism, as government prosecutors repeatedly requested more time to prepare legal documents and gather more evidence.
“This trial is not simply a trial against the 47 opposition leaders but also a trial for the population who has been supporting the pro-democracy movement for decades,” Eric Lai, a fellow at Georgetown Center for Asian Law in Washington, told Reuters.
The trial is expected to last 90 days, with three defendants expected to testify against the others, prosecutors say.
Those who have pleaded not guilty include former journalist Gwyneth Ho, activist Owen Chow, former lawmaker Leung Kwok-hung, and labor unionist Winnie Yu.
“The actual people who need to go on trial are absolutely not us,” Chow wrote on his Facebook page in September. “We’re not guilty at all.”
The 31 who pleaded guilty, including former law professor Benny Tai and activist Joshua Wong, will be sentenced after the trial.
Among a number of departures from established common law procedures, Secretary for Justice Paul Lam refused the defendants a jury trial. The case will be heard by three High Court judges designated under the national security law: Andrew Chan, Alex Lee and Johnny Chan.
Pretrial proceedings were largely kept out of the public eye until Judge Lee agreed to lift reporting restrictions in August.

 


Putin promised not to kill Zelensky: Former Israeli PM

Putin promised not to kill Zelensky: Former Israeli PM
Updated 06 February 2023

Putin promised not to kill Zelensky: Former Israeli PM

Putin promised not to kill Zelensky: Former Israeli PM
  • Bennett said that during his mediation, Putin dropped his vow to seek Ukraine’s disarmament and Zelensky promised not to join NATO

TEL AVIV, Israel: A former Israeli prime minister who served briefly as a mediator at the start of Russia’s war with Ukraine says he drew a promise from the Russian president not to kill his Ukrainian counterpart.
Former Prime Minister Naftali Bennett emerged as an unlikely intermediary in the war’s first weeks, becoming one of the few Western leaders to meet President Vladimir Putin during the war in a snap trip to Moscow last March.
While Bennett’s mediation efforts appear to have done little to end the bloodshed that continues until today, his remarks, in an interview posted online late Saturday, shed light on the backroom diplomacy and urgent efforts that were underway to try to bring the conflict to a speedy conclusion in its early days.
In the five-hour interview, which touched on numerous other subjects, Bennett says he asked Putin about whether he intended to kill Ukrainian President Volodymyr Zelensky.
“I asked ‘what’s with this? Are you planning to kill Zelensky?’ He said ‘I won’t kill Zelensky.’ I then said to him ‘I have to understand that you’re giving me your word that you won’t kill Zelensky.’ He said ‘I’m not going to kill Zelensky.’”
Bennett said he then called Zelensky to inform him of Putin’s pledge.
“’Listen, I came out of a meeting, he’s not going to kill you.’ He asks, ‘are you sure?’ I said ‘100 percent he won’t kill you.’“
Bennett said that during his mediation, Putin dropped his vow to seek Ukraine’s disarmament and Zelensky promised not to join NATO.
There was no immediate response from the Kremlin, which has previously denied Ukrainian claims that Russia intended to assassinate Zelensky.
Reacting to Bennett’s comments in his widely reported interview, Ukrainian Foreign Minister Dmytro Kuleba wrote Sunday on Twitter: “Do not be fooled: He is an expert liar. Every time he has promised not to do something, it has been exactly part of his plan.”
Bennett, a largely untested leader who had served as prime minister for just over six months when the war broke out, unexpectedly thrust himself into international diplomacy after he had positioned Israel into an uncomfortable middle ground between Russia and Ukraine. Israel views its good ties with the Kremlin as strategic in the face of threats from Iran but it aligns itself with Western nations and also seeks to show support for Ukraine.
An observant Jew and little known internationally, he flew to Moscow for his meeting with Putin during the Jewish Sabbath, breaking his religious commitments and putting himself at the forefront of global efforts to halt the war.
But his peacemaking efforts did not appear to take off and his time in power was short-lived. Bennett’s government, an ideologically diverse union that sent current Prime Minister Benjamin Netanyahu into a brief political exile, collapsed in the summer over infighting. Bennett stepped away from politics and is now a private citizen.

 


Mali junta expels UN mission’s human rights chief: govt

Mali junta expels UN mission’s human rights chief: govt
Updated 06 February 2023

Mali junta expels UN mission’s human rights chief: govt

Mali junta expels UN mission’s human rights chief: govt
  • “This measure comes after the destabilising and subversive actions of Monsieur Andali,” added the statement, which was also read out on national television news

BAMAKO: Mali’s ruling junta said Sunday that it was expelling the head of the human rights division of MINUSMA, the UN mission there, giving him 48 hours to leave the country.
The decision comes after a Malian rights activist last month denounced the security situation in the country in a speech to a UN gathering, and accused the regime’s new Russian military partners of serious rights violations.
The foreign ministry had declared Guillaume Ngefa Atonodok Andali, head of MINUSMA’s human rights section, persona non grata, said a statement issued by government spokesman Col. Abdoulaye Maiga.
“This measure comes after the destabilising and subversive actions of Monsieur Andali,” added the statement, which was also read out on national television news.
Andali had taken it upon himself to decide who were the representatives of civil society, ignoring the authorities and national institutions, the statement added.
“Andali’s bias was even more evident during the last review of the United Nations Security Council on Mali,” the statement added.
On January 27, Aminata Cheick Dicko criticized the regime at a special UN Security Council briefing on Mali.
MINUSMA was set up in 2013 to try to stabilize Mali in the face of the growing threat from jihadist fighters.
Its mission also included the protection of civilians, contributing to peace efforts and defending human rights.
But the security situation has continued to deteriorate in the west African country.
The military regime has repeatedly blocked MINUSMA’s attempts to investigate growing reports of human rights abuses carried out by the armed forces.

 


Ukraine to replace defense minister after corruption scandals: MP

Ukraine to replace defense minister after corruption scandals: MP
Updated 05 February 2023

Ukraine to replace defense minister after corruption scandals: MP

Ukraine to replace defense minister after corruption scandals: MP
  • "Time and circumstances require reinforcement and regrouping", Ukranian lawmaker says

KYIV: Ukraine’s defense minister will be preplaced by the chief of the military intelligence ahead of an expected Russian offensive and following corruption scandals, a senior lawmaker said on Sunday.
“Kyrylo Budanov will head the defense ministry, which is absolutely logical in wartime,” said senior lawmaker David Arakhamia, referring to the 37-year-old chief of the military intelligence.
Reznikov, 56, will be appointed minister for strategic industries, the lawmaker said without specifying a timeline for the planned re-shuffle.
“War dictates personnel policies,” added Arakhamia.
“Time and circumstances require reinforcement and regrouping. This is happening now and will continue to happen in the future,” he added.
“The enemy is preparing to advance. We are preparing to defend ourselves.”
One of the best-known faces of Ukraine’s war effort, Reznikov was appointed defense minister in November 2021 and has helped secure Western weapons to buttress Ukrainian forces.
But his ministry has been beset by corruption scandals.
Reznikov’s deputy was forced to resign in late January after the ministry was accused of signing food contracts at prices two to three times higher than current rates for basic foodstuffs.
Speaking to reporters earlier Sunday, Reznikov did not say if he planned to stay on at the ministry.
But he added that only President Volodymyr Zelensky, who last week stepped up efforts to clamp down on corruption, could decide his fate.
“The stress that I have endured this year is hard to measure precisely. I am not ashamed of anything,” Reznikov said. “My conscience is absolutely clear.”


Republicans criticize Biden for waiting to shoot down Chinese balloon

Republicans criticize Biden for waiting to shoot down Chinese balloon
Updated 05 February 2023

Republicans criticize Biden for waiting to shoot down Chinese balloon

Republicans criticize Biden for waiting to shoot down Chinese balloon
  • “China had too much respect for ‘TRUMP’ for this to have happened, and it NEVER did,” Trump wrote on social media

WASHINGTON: Republican US lawmakers on Sunday criticized President Joe Biden for waiting days to shoot down a suspected Chinese spy balloon as it floated over the United States, accusing him of showing weakness toward China and initially trying to keep the breach of US airspace undisclosed.
A US Air Force fighter jet on Saturday shot down the balloon off the coast of South Carolina, a week after it first entered US airspace near Alaska, triggering a dramatic spying saga that has further strained American-Chinese relations.
Defense Secretary Lloyd Austin said on Saturday the US military was able to collect “valuable” intelligence by studying the balloon, and that three other Chinese surveillance balloons had transited the United States during Donald Trump’s administration — a disclosure the Republican former president denied.
“We should have shot this balloon down over the Aleutian Islands. We should never have allowed it to transit the entire continental United States,” said Republican Senator Tom Cotton, a member of the Senate Armed Services Committee, referring to the chain of small islands that arc off the coast of mainland Alaska.
Cotton told the “Fox News Sunday” program that he believed Biden had waited to disclose the penetration of US airspace because he wanted to salvage Secretary of State Antony Blinken’s planned diplomatic trip to Beijing, which ultimately was postponed.
“I think part of it is the president’s reluctance to take any action that would be viewed as provocative or confrontational toward the Chinese communists,” Cotton added.
Biden said on Saturday he issued an order on Wednesday to down the balloon after it crossed into Montana, but the Pentagon had recommended waiting until it could be done over open water to protect civilians from debris crashing to Earth from nearly twice the altitude of commercial air traffic.
Senate Majority Leader Chuck Schumer, a Democrat, said of the Republican criticisms: “they are premature and they are political.”
The Defense Department in the coming week will brief the Senate on the suspected Chinese spy balloon and Chinese surveillance, Schumer told a news conference on Sunday.
NUCLEAR MISSILE SITES
Republican Representative Mike Turner, chairman of the House of Representatives Intelligence Committee, said the panel also was set to receive a briefing on the spy balloon this week, though the exact timing has not been determined.
Turner said the balloon traveled unhindered over sensitive US nuclear missile sites, and that he believed China was using it “to gain information on how to defeat the command and control of our nuclear weapons systems and our missile defense systems.”
“The president has allowed this to go across our most sensitive sites and wasn’t even going to tell the American public if you hadn’t broken the story,” Turner told NBC’s “Meet the Press” program. “There was no attempt to notify Congress, no attempt to put together the Gang of Eight (a bipartisan group of congressional leaders). I think this administration lacks urgency.”
Republican US Senator Marco Rubio, vice chair of the Senate Intelligence Committee, told the ABC News program “This Week” that he would ask administration officials what future preparations have been made to prevent such an incident.
Rubio also said China was trying to send a message that it could enter US airspace, adding that he doubted that the balloon’s debris would be of much intelligence value.
Trump on Sunday disputed Austin’s statement that Chinese government surveillance balloons transited the continental United States briefly three times during his presidency.
“China had too much respect for ‘TRUMP’ for this to have happened, and it NEVER did,” Trump wrote on social media.
Speaking on Fox News Channel’s “Sunday Morning Futures” show, Trump’s former director of National Intelligence, John Ratcliffe, also denied such balloon incidents.
China on Sunday condemned the US action against what Beijing called an airship used for meteorological and other scientific purposes that had strayed into US airspace “completely accidentally” — claims rejected by US officials.
“China had clearly asked the US to handle this properly in a calm, professional and restrained manner,” China’s foreign ministry said in a statement. “The US had insisted on using force, obviously overreacting.”