Friday, March 14

Types of News: Brief

News briefs are shorter stories about current events. It’s the who-what-when-and-where. “Just the facts, ma’am.” Please see our writers guidelines.

Russia Missed Deadline To Pay $117 Million Interest On Bonds
16Mar By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Global Economics, Types of News: Brief

Russia Missed Deadline To Pay $117 Million Interest On Bonds

File photo 2018. Russian President Putin meets with Finance Minister Siluanov. Russian Finance Minister Orders Payment Transactions, Says It's Up To Washington To Approve It March 16, 2022--Russia missed a key deadline today to pay $117 million it owes on debt payments on two government bonds. Holders of the dollar-denominated bonds had not received a confirmation of payment at the close of business in London, according to reporting by Reuters. That kicks off a 30-day grace period lasting until April 15. If the Russian government does not make payments by then, creditors can officially declare a default on the bonds. The bonds don't come due until 2023 and 2043, but the interest payments are due now, NPR reported. Impact Of Sanctions Sanctions by a coalition of governments h...
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U.S. Central Bank Begins Long-Awaited Rate Increases
16Mar By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Types of News: Brief

U.S. Central Bank Begins Long-Awaited Rate Increases

No Curveballs Or Surprises In Fed's March Meeting March 16, 2022—For the first time in three years, the U.S. Federal Reserve raised its Fed Funds Rate. The 0.25 percent change is the minimal increase it could take. Moreover, it comes as no surprise to the public or to financial markets, That's because the Fed previously announced its plans to begin increasing rates. Since the U.S. economy emerged from the pandemic with strong growth, many analysts criticized the Fed for moving too slow to raise rates as the U.S. prices rose. As the economy reopened from the pandemic, the inflation rate increased steadily to nearly 8 percent a year. "The time for rate increases has clearly come," Fed Chair Jerome Powell said in his video meeting with reporters today. "We have to restore price stabi...
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Global Growth Among G20 Dips Slightly, OECD Says
15Mar By Patti MohrNo Comments
Global Economics, Types of News: Brief

Global Growth Among G20 Dips Slightly, OECD Says

Global Economy Mixed At End Of 2021 March 15, 2022—Economic growth in G20 countries rose at a modest 1.4 percent rate in the final two quarters of 2021, down from the estimated 1.9 percent, according to the OECD. Some countries experienced a slowdown while others increased economic activity. India's decelerating growth accounted for part of the dip. From the third quarter to the fourth quarter, economic growth in India adjusted downward from 13.7 percent to 1.8 percent. Meanwhile, in the European Union, economic growth slowed from 2.2 percent in the third quarter to 0.4 percent in the fourth quarter. In other countries, such as the United States, China, Indonesia, South Africa, Brazil, and Australia, economic growth accelerated.
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UN Security Council Discusses Chemical Weapons
11Mar By Patti MohrNo Comments
Diplomacy, Types of News: Brief, Types of News: Videos, UN Security Council

UN Security Council Discusses Chemical Weapons

Hearing Comes A Day After Council Examines Syria's Chemical Weapons March 11, 2022--With the sheer amount of devastation Ukraine is undergoing under the hand of the Russian military, it's hard to imagine it may get worse. But the possibility of more terror arose this week at the mention of chemical weapons. Today, the UN Security Council met at Russia's request after Russian diplomats accused Ukraine of having bio-labs in the country. It also came a day after the council heard remarks from a UN representative about Syria's chemical weapons program. Wild Accusations By Russia Pose Concerns For U.S., Ukraine Specifically, Russian diplomats asserted that Ukraine is producing bioweapons with the support of the United States. On Tuesday, State Department Official Victoria Nula...
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Biden Takes More Economic Actions Against Russia
11Mar By Patti MohrNo Comments
Global Trade, Globalization, Global Disintegration, Sanctions, Types of News: Brief

Biden Takes More Economic Actions Against Russia

De-Globalization Continues As Congress Targets Most-Favored Trade Status March 11, 2022—U.S. President Joe Biden announced additional economic and trade measures today that further divide U.S.-Russian business relations. Specifically, Biden said he is working with Congress to deny Russia its most-favored-nation trade status, which gives its goods preferential treatment. Congressional Trade Bills Hill lawmakers have introduced bills in the House and Senate, H.R. 6835, S. 3717 and S. 3722, to withdraw the Permanent Normal Trade Relations with Russia. It's fair to say the bills have bipartisan support in the U.S. Congress. Rep. Lloyd Doggett, D-Texas, a high-ranking member of the tax committee, is the lead sponsor of one of the bills. "Russia must be denied the benefit of the ...
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US Inflation Reaches 7.9 Percent
10Mar By Patti MohrNo Comments
Global Economics, Types of News: Brief

US Inflation Reaches 7.9 Percent

March 10, 2022--The Consumer Price Index increased to 0.8 percent in February, bringing the annualized inflation rate to 7.9 percent, the Labor Department reported today. The goods with the highest price increases include gasoline, shelter and food. Gas prices rose 6.6 percent in February alone and are continuing to rise. They increased 38 percent for the year. Meanwhile, energy services, such as electricity and utility, rose 43 percent over a 12-month period. Also, the index for food prices experienced the largest monthly jump of 2.3 percent since March 2010. The inflation figures are likely to factor into the Federal Reserve's decision-making meeting on March 15-16. The next release date for inflation figures is April 12.
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US, Venezuela Resume Diplomatic Talks
9Mar By Patti MohrNo Comments
Diplomacy, Energy Policy, Oil & Gas, Types of News: Brief

US, Venezuela Resume Diplomatic Talks

U.S Prisoners Held In Venezuela Return Home March 9, 2022--As the United States cuts off imports of oil from Russia, it opens doors for a resumption of trade with other countries under U.S. sanctions. Namely, it opens possibilities for Venezuela and Iran. In the latter case, Iran, negotiations have been ongoing in Vienna for months. Talks Resume In the case of Venezuela, diplomats restarted talks that had stalled. White House Press Secretary Jen Psaki confirmed on Tuesday U.S. envoy had traveled to resume talks on "a range of topics" and those talks are ongoing. Venezuela backed Russia on a recent UN vote, abstaining from a resolution on by the UN Human Rights Council. And Venezuela President Nicolás Maduro stands firm in his commitment to his communist revolution. His Twitt...
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Council Of Inquiry Launched On Russia’s War Against Ukraine
7Mar By Patti MohrNo Comments
Diplomacy, Human rights, Types of News: Brief, UN Security Council

Council Of Inquiry Launched On Russia’s War Against Ukraine

The UNHRC established a Commission of Inquiry on Russia's war on March 4, 2022. UN Human Rights Council Votes 32-2 On Resolution (Full Text) March 7, 2022—While wars may seemingly be created overnight, as in the case of Russia's aggression against its neighbor, no-fly zones and official state support for the territory violated are not. It is too soon to predict where this is heading. Even as Western leaders rule out the involvement of the NATO alliance, they and the rest of most of the world are carefully trodding towards confronting Vladimir Putin and the Russian government. Moral And Legal Support Mounts Moral support for Ukraine continues to grow, and an accumulation of legal and diplomatic is mounting. On March 4, the UN Human Rights Council passed a resolution condemni...
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International Agency Says Europe Can Cut 1/3 Of Its Russian Gas Imports
7Mar By Patti MohrNo Comments
Climate Action, ESG, Sustainable Finance, Energy Policy, Oil & Gas, Europe, EU, Eurozone, Geopolitics, Globalization, Global Disintegration, Organizations, IMF, WTO, G7, Types of News: Brief

International Agency Says Europe Can Cut 1/3 Of Its Russian Gas Imports

March 7, 2022--Europe is notoriously dependent on Russian oil and gas. That reliance is making strict penalties on Russia's invasion difficult to carry out. But that trade isn't set in stone. In a new report, the International Energy Agency recommends 10 steps for European leaders who want to break that dependency. Under the IEA plan, Europe would be able to reduce its natural gas imports from Russia from 155 billion cubic meters (bcm) a year to 95 bcm--a savings of one third. These figures assume Europe refills is gas storage facilities in 2022. According the the report, the steps are in line with the European Union's goals for climate action and a European Green Deal. However, the agency also recommends additional steps in light of Russia's aggressive war against Ukraine. 10 Steps ...
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Protests And Political Imprisonment In Russia
4Mar By Jacob DavenportNo Comments
Domestic Politics, Human rights, Political Systems, Domestic Politics, Types of News: Brief

Protests And Political Imprisonment In Russia

Photo by @Martin_camera Russian Opposition Leader Alexey Navalny Calls For Anti-War Protests Editor's Note: As Russian President Vladimir Putin accelerates its war against Ukrainians, world leaders and foreign policy watchers are increasingly counting on Russian citizens to take responsibility for ending the war. Mohr Media's intern Jacob Davenport reports on the unfolding developments and some background. March 4, 2022--In response to the military invasion of Ukraine, Russian opposition leader Alexey Navalny encouraged his fellow citizens to continue protesting against the war. From Prison, Navalny Says 'Go Protest' Navalny said Russian citizens should be prepared to “fill prisons and paddy wagons” as a means of demonstration and protest in response to “Moscow’s unprovoked...
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