Yellen says Iran’s actions could cause global economic spillovers as White House vows new sanctions

 US Treasury Secretary Janet Yellen attends a press conference at US Ambassador’s residence in Beijing on April 8, 2024. (AFP)
US Treasury Secretary Janet Yellen attends a press conference at US Ambassador’s residence in Beijing on April 8, 2024. (AFP)
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Updated 17 April 2024
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Yellen says Iran’s actions could cause global economic spillovers as White House vows new sanctions

 US Treasury Secretary Janet Yellen attends a press conference at US Ambassador’s residence in Beijing on April 8, 2024. (AFP)
  • Israel has killed more than 33,000 Palestinians, according to Gaza’s Health Ministry
  • White House national security adviser Jake Sullivan also said Tuesday that coming US sanctions would target Iran’s missile and drone program and entities supporting the Islamic Revolutionary Guard Corps and Iran’s Defense Ministry

WASHINGTON: Treasury Secretary Janet Yellen warned Tuesday of potential global economic damage from rising tensions in the Middle East as the Biden administration said it was readying new sanctions in response to Iran’s malevolent activity in the region.
Yellen spoke out against Iran’s “malign and destabilizing activity” in remarks ahead of this week’s spring meetings of the International Monetary Fund and World Bank, saying Iran’s weekend missile and drone attack on Israel “underscores the importance of Treasury’s work to use our economic tools to counter Iran’s malign activity.”
She added: “From this weekend’s attack to the Houthi attacks in the Red Sea, Iran’s actions threaten the region’s stability and could cause economic spillovers.”




National security adviser Jake Sullivan speaks during a press briefing at the White House, in Washington. (AP file photo)

Iran’s attack on Israel early Sunday came in response to what it says was an Israeli strike on Iran’s consulate in Syria earlier this month. Israel’s military chief said Monday that his country will respond to the attack, while world leaders caution against retaliation, trying to avoid a spiral of violence.
As the IMF and its fellow lending agency, the World Bank, hold their spring meetings this week, high on the agenda are the fast-rising tensions between Iran and Israel and what escalation could spell for the global economy.
Meanwhile, White House national security adviser Jake Sullivan also said Tuesday that coming US sanctions would target Iran’s missile and drone program and entities supporting the Islamic Revolutionary Guard Corps and Iran’s Defense Ministry.
“We anticipate that our allies and partners will soon be following with their own sanctions,” Sullivan said in a statement. “In addition, we continue to work through the Department of Defense and US Central Command to further strengthen and expand the successful integration of air and missile defense and early warning systems across the Middle East to further erode the effectiveness of Iran’s missile and UAV capabilities.”
Israel and Iran have been on a collision course throughout Israel’s six-month war against Hamas militants in Gaza. The war erupted after two militant groups backed by Iran led an attack on Oct. 7 that killed 1,200 people in Israel and kidnapped 250 others. An Israeli offensive in Gaza has caused widespread devastation and killed over 33,000 people, according to local health officials.
“We’ve targeted over 500 individuals and entities connected to terrorism and terrorist financing by the Iranian regime and its proxies since the start of the Administration,” Yellen said, citing sanctions against Iran’s drone and missile programs, militant groups Hamas, the Houthis, Hezbollah, and other Iraqi militia groups.
Yellen said she expected the additional sanctions to be announced in the coming days.
The annual gathering will take place as other ongoing conflicts, including Russia’s invasion of Ukraine, threaten global financial stability.
Yellen in February offered her strongest public support yet for the idea of liquidating roughly $300 billion in frozen Russian Central Bank assets and using them for Ukraine’s long-term reconstruction.
She said Tuesday that the US is “continuing to work with our international partners to unlock the economic value of immobilized Russian sovereign assets and ensure that Russia pays for the damage it has caused.” Yellen added that she will meet with Group of Seven finance leaders Wednesday to continue discussions on the topic and will look at “a series of possibilities, ranging from actually seizing the assets to using them as collateral.”
Another major issue for this year’s meetings on the US side, Yellen said, will be ongoing conversations about Chinese industrial policy that poses a threat to US jobs and the global economy. She traveled to Guangzhou and Beijing earlier this month, to hold “difficult conversations” with counterparts over what she describes as China’s overcapacity in its wave of low-priced Chinese green tech exports that could overwhelm factories in the US and make it impossible to compete.
Yellen said she plans to meet later this week with her Chinese counterparts for a fourth meeting of the US-China Economic and Financial Working Groups, “to share information, identify potential areas of cooperation, and, when we disagree, frankly communicate concerns.”
US Treasury and China’s Ministry of Finance launched the economic working groups in an effort to ease tensions and deepen ties between the nations.

The children in Israel’s prisons
Ongoing hostage-for-prisoners exchange opens the world’s eyes to arrests, interrogations, and even abuse of Palestinian children by Israeli authorities

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Over 1 million claims related to toxic exposure granted under new veterans law, Biden announces

Over 1 million claims related to toxic exposure granted under new veterans law, Biden announces
Updated 22 May 2024
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Over 1 million claims related to toxic exposure granted under new veterans law, Biden announces

Over 1 million claims related to toxic exposure granted under new veterans law, Biden announces
  • In raw numbers, more than 1 million claims have been granted to veterans since Biden signed the so-called PACT Act into law in August 2022, the administration said Tuesday

NASHUA, N.H.: President Joe Biden, aiming to highlight his legislative accomplishments this election year, traveled to New Hampshire on Tuesday to discuss how he’s helped military veterans get benefits as a result of burn pit or other toxic exposure during their service.
“We can never fully thank you for all the sacrifices you’ve made,” Biden said to the veterans and their families gathered at a YMCA. “In America, we leave no veteran behind. That’s our motto.”
In raw numbers, more than 1 million claims have been granted to veterans since Biden signed the so-called PACT Act into law in August 2022, the administration said Tuesday. That amounts to about 888,000 veterans and survivors in all 50 states who have been able to receive disability benefits under the law.
That totals about $5.7 billion in benefits given to veterans and their survivors, according to the administration.
“The president, I think, has believed now for too long, too many veterans who got sick serving and fighting for our country had to fight the VA for their care, too,” Veterans Affairs Secretary Denis McDonough told reporters on Monday. PACT stands for “Promise to Address Comprehensive Toxics.”
The PACT Act is relatively lower profile compared to the president’s other legislative accomplishments — such as a bipartisan infrastructure law and a sweeping tax, climate and health care package — but it is one that is deeply personal for Biden.
He has blamed burn pits for the brain cancer that killed his son, Beau, who served in Iraq, and has vowed repeatedly that he would get the PACT Act into law. Burn pits are where chemicals, tires, plastics, medical equipment and human waste were disposed of on military bases and were used in Iraq and Afghanistan.
Before the law, the Department of Veterans Affairs denied 70 percent of disability claims that involved burn pit exposure. Now, the law requires the VA to assume that certain respiratory illnesses and cancers were related to burn pit or other toxic exposure without veterans having to prove the link.
Before Biden’s planned remarks, he went to a Veterans of Foreign Wars post in Merrimack, New Hampshire. The president met there with Lisa Clark, an Air Force veteran who is receiving benefits through the PACT Act because her late husband, Senior Master Sergeant Carl Clark, was exposed to the chemical herbicide Agent Orange during the Vietnam War.
Sen. Jon Tester, D-Montana, marked the milestone by praising the veterans who advocated for the law.
“For far too long, our nation failed to honor its promises to our veterans exposed to toxins in military conflicts across the globe— until we fought like hell alongside veterans to finally get the PACT Act signed into law,” Tester, chairman of the Senate Veterans’ Affairs Committee, said.


Blinken says he’ll work with US Congress to respond to ICC move on Gaza

Blinken says he’ll work with US Congress to respond to ICC move on Gaza
Updated 22 May 2024
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Blinken says he’ll work with US Congress to respond to ICC move on Gaza

Blinken says he’ll work with US Congress to respond to ICC move on Gaza
  • The United States is not a member of the court, but has supported past prosecutions, including the ICC’s decision last year to issue an arrest warrant for Russian President Vladimir Putin over the war in Ukraine

WASHINGTON: The Biden administration is willing to work with Congress to respond to the International Criminal Court prosecutor’s request for arrest warrants for Israeli leaders over the Gaza war, Secretary of State Antony Blinken said on Tuesday, amid Republican calls for US sanctions against court officials.
Speaking at a Senate Foreign Relations Committee hearing, Blinken called the move “profoundly wrong-headed” and said it would complicate the prospects of reaching a hostage deal and a ceasefire in Israel’s conflict with the Palestinian militant group Hamas.
ICC prosecutor Karim Khan said on Monday he had reasonable grounds to believe that Israeli Prime Minister Benjamin Netanyahu, Israel’s defense chief and three Hamas leaders “bear criminal responsibility” for alleged war crimes and crimes against humanity.
Both President Joe Biden, a Democrat, and his political opponents have sharply criticized Khan’s announcement, arguing the court does not have jurisdiction over the Gaza conflict and raising concerns over process.
The United States is not a member of the court, but has supported past prosecutions, including the ICC’s decision last year to issue an arrest warrant for Russian President Vladimir Putin over the war in Ukraine.
“We’ll be happy to work with Congress, with this committee, on an appropriate response” to the ICC move, Blinken said on Tuesday.
He did not say what a response to the ICC move might include.
In a later hearing, Republican Senator Lindsey Graham told Blinken he hoped to work together with the administration to express the United States’ opposition to the ICC prosecutor.
“What I hope to happen is that we level sanctions against the ICC for this outrage, to not only help our friends in Israel but protect ourself over time,” said Graham.
Republican members of Congress have previously threatened legislation to impose sanctions on the ICC, but a measure cannot become law without support from President Joe Biden and his fellow Democrats, who control the Senate.
In 2020, then-President Donald Trump’s administration accused the ICC of infringing on US national sovereignty when it authorized an investigation into war crimes committed in Afghanistan. The US targeted court staff, including then-prosecutor Fatou Bensouda, with asset freezes and travel bans.


UK minister accused of ‘witch hunt’ against pro-Palestine movement

UK minister accused of ‘witch hunt’ against pro-Palestine movement
Updated 21 May 2024
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UK minister accused of ‘witch hunt’ against pro-Palestine movement

UK minister accused of ‘witch hunt’ against pro-Palestine movement
  • Michael Gove: University encampments represent ‘antisemitism repurposed for Instagram age’
  • Palestine Solidarity Campaign: Britain ‘complicit’ in ‘genocide in Gaza’

LONDON: The UK’s secretary of state for leveling up, housing and communities has been accused of conducting a “witch hunt” after accusing pro-Palestinian demonstrators of antisemitism.
Political parties and the Palestine Solidarity Campaign condemned Michael Gove, with the Revolutionary Communist Party calling his accusations an attempt to distract from the Conservatives’ “support for genocide” in Gaza.
The Socialist Workers Party said he is conducting a “witch hunt (against) the Palestine solidarity movement.”
Gove announced plans to make protest organizers foot the cost of policing at pro-Palestinian demonstrations, saying they are not doing enough to stop some attendees spreading anti-Jewish messages.
“Many of those on these marches are thoughtful, gentle, compassionate people — driven by a desire for peace and an end to suffering. But they are side by side with those who are promoting hate,” he added.
“The organizers of these marches could do everything in their power to stop that. They don’t.”
Gove also said pro-Palestinian university encampments across the UK represent “antisemitism repurposed for the Instagram age,” and their presence has facilitated hostility against Jewish students on campuses.
Ben Jamal, PSC director, said in a statement: “Apologists for Israel’s genocidal violence and system of apartheid have lost the democratic and legal arguments, but continue to attempt to delegitimize Palestinian solidarity. They will not succeed.
“At a moment when Israel is on trial in the world’s highest court for the crime of genocide and the day after its Prime Minister has been threatened with ICC (International Criminal Court) arrest warrants for war crimes, it is grotesque that these smears continue.
“The real issues are that the UK government continues to arm Israel, refuses to resume funding to UNRWA (the UN Relief and Works Agency for Palestine Refugees), and is attempting to protect Israel from legal accountability.
“Far from stopping the genocide in Gaza as required under international law, the UK is complicit.”


NGOs seek climate trial of French oil giant TotalEnergies

NGOs seek climate trial of French oil giant TotalEnergies
Updated 21 May 2024
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NGOs seek climate trial of French oil giant TotalEnergies

NGOs seek climate trial of French oil giant TotalEnergies
  • The complaint was filed at Paris judicial court days before TotalEnergies holds annual shareholders meeting
  • The offenses carry prison sentences ranging between one year to five years and fines of as much as $163,000

PARIS: NGOs filed a criminal complaint against French oil giant TotalEnergies and its top shareholders in Paris on Tuesday, seeking a trial for involuntary manslaughter and other consequences of climate change “chaos.”
The case targets the company’s board, including chief executive Patrick Pouyanne, and major shareholders that backed its climate strategy, including US investment firm BlackRock and Norway’s central bank, Norges Bank.
In a statement, the three NGOs and eight individuals said they accused the group of “deliberately endangering the lives of others, involuntary manslaughter, neglecting to address a disaster, and damaging biodiversity.”
The complaint was filed at the Paris judicial court, which has environmental and health departments, three days before TotalEnergies holds its annual shareholders meeting.
The prosecutor now has three months to decide whether to open a judicial investigation, the NGOs said. If it does not go ahead, the plaintiffs can take their case directly before an investigative judge.
The offenses carry prison sentences ranging between one year to five years and fines of as much as 150,000 euros ($163,000).
“This legal action could set a precedent in the history of climate litigation as it opens the way to holding fossil fuel producers and shareholders responsible before criminal courts for the chaos caused by climate change,” the NGOs said.
The plaintiffs include “victims or survivors of climate-related disasters” in Australia, Belgium, France, Greece, Pakistan, the Philippines and Zimbabwe.
TotalEnergies did not immediately return a request for comment.
Oil and gas companies, other corporations and governments are facing a growing number of legal cases related to the climate crisis worldwide.
TotalEnergies is facing other legal cases in France related to climate change.
Outside the Paris judicial court, the NGOs held a banner reading “climate change kills” and “let’s put shareholders behind bars” — with the “share” in shareholders crossed out and replaced by the “death.”
The latest complaint aims to “recognize the deadly consequences of their decisions, their stubbornness in voting for fossil projects which threaten the stability of the climate and therefore of all living things,” Claire Nouvian, founding director of conservation group Bloom, said at a news conference.
Fossil fuels — oil, gas and coal — are the biggest contributors to heat-trapping greenhouse gas emissions.
One of the plaintiffs in the Paris case is Benjamin Van Bunderen Robberechts, a 17-year-old Belgian whose friend Rosa died in flash floods in Belgium at the age of 15 in 2021.
In Paris to file the complaint, he said he had come to “demand justice” against those “who choose profit over human lives and climate.”
In their statement, the plaintiffs said “TotalEnergies has known the direct link between its activities and climate change” since at least 1971.
“TotalEnergies followed a climate skeptic line in order to waste time, delay decision-making and protect its increasing investments in fossil fuels,” they added.
They said they hope to set a legal precedent “whereby opening new fossil fuel projects would be considered criminal.”
While the case was filed on Tuesday, TotalEnergies announced a deepwater project off the coast of Angola, with production set to start in 2028 to extract 70,000 barrels per day.


Gunmen kill around 40 people in attack in northcentral Nigeria: official

Gunmen kill around 40 people in attack in northcentral Nigeria: official
Updated 21 May 2024
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Gunmen kill around 40 people in attack in northcentral Nigeria: official

Gunmen kill around 40 people in attack in northcentral Nigeria: official
  • Armed men invaded Zurak community, shooting sporadically and torching houses
  • Local youth leader Shafi’i Sambo also said at least 42 people had been killed in the raid

LAGOS: Gunmen riding motorbikes killed around 40 people in a raid on a mining community in northcentral Nigeria, opening fire on residents and torching homes, the local government said on Tuesday.
The attack late on Monday on Wase district in Plateau state was the latest violence in an area which has long been a flashpoint for disputes over resources and for outbreaks of intercommunal clashes.
Armed men invaded Zurak community, shooting sporadically and torching houses, Plateau state commissioner for information Musa Ibrahim Ashoms told AFP by telephone.
“As we speak, about 40 people have been confirmed dead. Zurak is a popular mining community,” he said.
Local youth leader Shafi’i Sambo also said at least 42 people had been killed in the raid.
Wase has deposits of zinc and lead, while Plateau as a whole is known for its tin mining industry.
Sitting on the dividing line between Nigeria’s mostly Muslim north and predominantly Christian south, Plateau often sees outbreaks of violence sparked by disputes between nomadic herders and pastoral farmers.
Climate change has also helped escalate tensions over grazing land, water access and other resources such as the state’s metal reserves.
Parts of northwest and northcentral Nigeria have also been terrorized by heavily armed criminal gangs, who raid villages to loot and carry out mass kidnappings for ransom.
In January, intercommunal clashes erupted in Plateau’s Mangu town that left churches and mosques burned, more than 50 people dead and thousands displaced.