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Venezuelan President says that flights bringing migrants back from the US are 'affected.'
The Venezuelan president Nicolas Maduro stated on Saturday that flights scheduled to bring Venezuelan migrants back from the U.S. were affected by "this unjustified, tremendous commotion" after the Trump Administration canceled a Chevron license to operate in South America. Maduro had earlier said that, if it were up to him, Chevron would stay in Venezuela. He was referring to the decision made by U.S. president Donald Trump last week to revoke a license for Chevron, citing a lack of progress in electoral reforms and migration returns. Maduro did not directly mention the name of the company when referring to the migrant flight. He claimed that flights and communication between the countries were affected. Maduro, and his government, have always rejected the sanctions imposed by the U.S. Maduro, his allies and the government have praised the country for its resilience in the face of the sanctions. However, they have blamed the sanctions historically for some economic hardships. Reporting by Chizu Nomiyama; Editing by Margueritachoy and Chizu Nomiyama
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Barrick is 'committed' to a'mutually beneficial resolution' in Mali
In a memo that was seen on Saturday, Barrick Gold's chief operating officer for Africa & the Middle East stated in a memo that it remains "fully committed and engaged" to finding a resolution with Mali which is mutually beneficial to both parties. Since 2023, the Canadian miner Barrick and the Malian government are locked in a dispute over the new mining code of this West African nation. This code gives the Malian state a larger share in Barrick’s Loulo-Gounkoto Gold Mining Complex. Barrick announced on 13 January that it had been forced to suspend its mining operations in Mali following the seizure of around three metric tonnes of gold from its complex by the government. Since early November, the government has been blocking Barrick's gold exports. Reports on February 19, 2019 stated that Barrick signed an agreement to settle the dispute. The state then approved the agreement. One person involved in the process said that the deal was taking time to finalise, even though there have been no major problems since then. According to a person familiar with previous deals, it took the government "some time" before they signed deals with other Mali mining companies. Sebastiaan Bok, the CEO of the company, sent a memo to its staff on Saturday. He said that there were "no major developments at this time". He said: "As a gentle reminder, until further notice all non-critical activities will be temporarily paused." Staff salaries and bonuses were not affected by the suspension. One of the complex's vendors told Barrick in early March it owed two months of payments.
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Kyiv reports that at least 14 people were killed and 37 injured in a Russian missile attack on Ukraine.
The Ukrainian Interior Ministry reported on Saturday that Russian drone and missile attacks overnight on Dobropillia, a city in eastern Ukraine, and a settlement near Kharkiv left at least 14 dead and 37 injured, including five kids. According to the Ministry, Russian forces used drones and multiple rockets to attack Dobropillia, damaging eight multi-storey building and 30 vehicles. Eleven people were killed, including five kids, in the attack. Thirty others were also injured. Three civilians died and seven were injured in a separate attack by drone on Kharkiv in the northeast. "Such attacks show that Russia's goals have not changed." It is therefore vital to continue doing our best to protect life, to strengthen our air defences and to increase sanctions against Russia. "Everything that helps Putin finance war must be destroyed," Volodymyr Zelenskiy stated on Facebook. The Russians launched their first major missile strike on Friday against Ukrainian gas and energy infrastructure, a day after the U.S. suspended intelligence sharing. This increased pressure on Kyiv, as President Donald Trump tries to end the war quickly. Military analysts believe that the pause in U.S. intelligence and military assistance could undermine Ukraine's air defenses, as it is running low on advanced missiles. Dobropillia is located in eastern Ukraine's Donetsk region, about 22 km (13.67 mi) north of Pokrovsk. The Russian troops have been attacking this key city for several weeks. FIGHTING CONTINUES In an effort to gain an edge, both sides are continuing to engage in hostilities despite the efforts of the U.S. to bring Kyiv to the table for negotiations. The Kirishi oil refining plant, which is one of Russia's biggest, houses a tank. In recent weeks, Russian forces have intensified their efforts to expel Ukrainian troops from Kursk. Last August, Kyiv's forces launched a lightning invasion over the border, capturing a large area of Russian territory. On Saturday, the Russian Defence Ministry announced that its troops were in Afghanistan. retook Three villages in the Kursk area were taken by Ukrainian forces. Could not independently confirm the report. (Reporting and editing by Kim Coghill, Louise Heavens and Kim Coghill; Additional reporting by Lucy Papachristou, Guy Faulconbridge and Guy Faulconbridge).
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Ukraine's steel production increases despite the loss of a coking coal mine
The Ukrainian Steel Producers' Union reported on Saturday that despite the loss in eastern Ukraine of its key coking coal mining facility in Pokrovsk, the steel sector still maintained growth in 2025's first two months. Metinvest, the Ukrainian steelmaker, has suspended operations in Ukraine's sole coking coal mine. The company cited a deteriorating situation due to Russian advances. Data showed that the raw steel production rose 9.9% between January and February 2025, to 1,18 million metric tonnes. Since the Russian invasion of February 24, 2022 leading steel mills have been destroyed. Ukraine, once a major exporter and producer of steel, reported a 70.7% decline in production in 2022, to 6.3 millions tons. The output dropped to 6 million tonnes in 2023, but increased to 7,58 million tons in 2020. Steelmakers' Union said in October that the closure of Pokrovsk could lead to a drop in steel production to 2 to 3 million metric tonnes in 2025. The producers have stated that they would like to import coking coal from another Ukrainian mine if the mine were taken over by Russian troops. However, this would increase costs. (Reporting and editing by Louise Heavens, with Pavel Polityuk)
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Lammy, UK's Lammy, says that Britain and the Philippines are committed to rules-based orders
David Lammy, British Foreign Minister, said that Britain and the Philippines are committed to an international order based on rules. Lammy, on an official visit to the Philippines, said that both countries had stood together, supporting Ukraine, and promoting a free, open Indo-Pacific. Lammy and his Philippine counterpart said at a press conference that they were charting a course for their relationship in the face of global instability. They also emphasized that it was important to strengthen ties with other like-minded countries, such as the Philippines. The Philippines and Britain have signed a framework agreement for enhanced cooperation in multiple areas including defence, regional safety, and climate change, opening the door to deeper collaboration when it comes to addressing challenges and opportunities shared by both countries. Lammy and Philippine Secretary of Foreign Affairs Enrique Manalo both signed the agreement, and both highlighted their commitments to expanding economic ties in the Indo-Pacific and promoting regional stability. "We are countries committed to international law." We are a country that is committed to the rule-based order. "We are countries who take our obligations under UN Charter seriously," Lammy stated. Manalo, for his part, expressed the appreciation of his country to Britain's "firm commitment to a free and peaceful Indo-Pacific Region," and added that both nations had agreed to continue participating and exchanging in joint military exercise. Manalo stated, "We are pleased with the United Kingdom's Indo-Pacific strategy towards a more deliberate engagement within the region including the Philippines." In the face of rising tensions and confrontations between China and the Philippines in the South China Sea, the Philippines is expanding its security partnerships. It has also maintained its longstanding alliance with the United States.
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Russian Kirishi refinery damaged by debris in Ukrainian drone attack
The governor of Leningrad, a region in the northwestern part of Russia, said that a tank at the Kirishi oil refining plant, one of Russia's biggest, was damaged during an aerial attack by Ukraine. Surgutneftegaz's Kirishinefteorgsintez (KINEF) refinery is one of the top two refineries in Russia. According to industry sources, it refines approximately 17.7 million tonnes of Russian crude per year (355, 000 barrels per day). Alexander Drozdenko said that the governor of Leningrad Region, Alexander Drozdenko on Telegram, "Air defences destroyed one drone as it approached, and the other was destroyed on the territory of enterprise." He said that the external structure of a tank was damaged when the debris fell. He said that no one was hurt. It was not immediately apparent the extent of damage at the refinery. Surgutneftegaz - one of Russia's largest oil companies - and Ukraine have not yet commented. Kirishi refinery is responsible for producing 2.3 million tonnes of gasoline or 5.3% of the total amount of fuel in Russia. According to industry sources, it also produces 7.6% percent of the country's fuel oil, 16.3% percent of its diesel fuel and 3.4% percent of its aviation fuel. According to the Russian defence ministry, 31 Ukrainian drones have been destroyed in Russia. This includes 26 drones that were destroyed in Krasnodar. (Editing by Himani Sakar)
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MOL’s Green Hydrogen Production Vessel Makes First Onshore Delivery
Mitsui O.S.K. Lines (MOL) has announced that green hydrogen produced from offshore wind using the demonstration yacht Winz Maru was supplied onshore in the central breakwater area of Tokyo, as part of the Wind Hunter Project.This marks the first time in the world that a ship has supplied green hydrogen, produced on its own while underway, for use on shore, according to MOL.Between FY 2021 and FY2 023, MOL conducted a demonstration test in Omura Bay in Sasebo City with the Winz Maru, successfully completing all phases of hydrogen production, storage and usage of stored hydrogen onboard.Since, MOL has focused on supplying domestically produced green hydrogen from the Winz Maru in Tokyo Bay to onshore facilities.The Winz Maru simplifies handling and transportation of hydrogen, a difficult process for hydrogen gas, by converting produced green hydrogen to methylcyclohexane (MCH) onboard the vessel in Tokyo Bay.To ensure sufficient supply, MOL has modified the MCH tanks and added turbine generators to the vessel.In addition, safety measures have been taken in light of rougher sea conditions in Tokyo Bay, compared to Omura Bay.MOL plans to continue its green hydrogen production activities in Tokyo Bay, producing about 100 Nm3 of hydrogen, or the equivalent of about 200 liters of MCH, in FY 2025, while at the same time supplying electricity to a trailer home and other facilities in the central breakwater area of Tokyo.MOL is also working on supplying hydrogen and studying a large demonstration vessel for the Wind Hunter.“Assuming that the hydrogen value chain will be established domestically in the future, we aim to construct and commercialize a large demonstration vessel as early as the 2030s,” MOL said in a statement.
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Stocks, yields edge higher; Powell says economy still in good place
Stock indexes rose Friday, after Federal Reserve chair Jerome Powell stated that the U.S. economic situation is still good and it remains unclear if Trump's tariff plans are inflationary. Meanwhile, U.S. Treasury yields on 10-year bonds also increased. Stocks and Treasury yields fell earlier in the morning after data revealed that the U.S. economy had created fewer jobs last month than expected, adding to recent concerns about economic growth. The Federal Reserve's rate-cutting expectations were boosted by the jobs report. According to the closely followed employment report, nonfarm payrolls increased in February by 151,000, while unemployment edged up. The report was the first to be released under Donald Trump. It came after a week that saw confusion about U.S. Trade Policy and global borrowing costs. Powell's remarks came after Trump delayed and then imposed 25% tariffs against major trading partners Mexico, and Canada. The levies are still scheduled to take effect in early April. Other tariffs could also be on the way. Adam Sarhan, CEO of 50 Park Investments, New York, said that the economy was holding up despite the recent stock market sell-offs. He added that a bounce after the recent oversold condition is long overdue. S&P 500 registered its largest weekly percentage drop since September on Friday, while the Nasdaq confirmed on Thursday a correction defined as a decline of at least 10% since December's peak, due to tariffs announced by Trump that have fuelled investor uncertainty. LSEG data shows that traders increased their expectations after the release of the employment data. They expect the central bank to lower borrowing rates in June. Brian Jacobsen is the chief economist of Annex Wealth Management. He said, "The market has reverted to pricing three rate reductions in 2025." The yield of the benchmark 10-year Treasury bill in the United States rose by 3.8 basis points to 4.32%. The 10-year yield has risen about 9 basis points this week and is on course to end a five-week decline streak. After the largest two-day drop in Bunds in the past 40 years, the sharp selling of euro zone government bonds ceased on Friday. This was due to Germany's plans for a complete rewrite of its fiscal rules. The benchmark yield for the Eurozone, Germany's 10-year bonds, fell 5.5 basis points to 2.83%. The biggest weekly percentage increase in the euro against the U.S. Dollar since 2009 was recorded. The dollar index was up by 0.51% for the day, lastly at $1.0838. The dollar index fell 0.32% to 103.86. Wall Street saw the Dow Jones Industrial Average rise 222.64, or 0.5%, to 42.801.72, while the S&P 500 rose 31.68, or 0.5%, to 5.770.20, and the Nasdaq Composite gained 126.97, or 0.7%, to 18.196.22. The MSCI index of global stocks rose by 1.72 points or 0.20% to 852.10. The pan-European STOXX 600 ended the day down 0.5%. The STOXX 600 fell 0.7% in the past week, ending a winning streak of 10 sessions, its longest since 2024. Bitcoin dropped 3.31%, to $86,514.78. Trump signed an executive directive to create a strategic reserve for cryptocurrency tokens owned by the federal government. This disappointed some investors who had expected a firm plan of buying new tokens. U.S. crude oil rose 68 cents, settling at $67.04 per barrel. Brent climbed by 90 cents, settling at $70.36.
How close are Turkey's Erdogan and Russia's Putin?
Here are a few of the concerns underpinning ties in between Tayyip Erdogan and Vladimir Putin, who met on Wednesday in Russia on the sidelines of the summit of the BRICS organizing which NATOmember Turkey has voiced interest in joining:
WARY REGARD
Relations between the long-serving Turkish and Russian presidents are in some cases tense, however they have both rebuffed U.S. impact and in varying methods have actually formed military disputes from the South Caucasus to Syria and North Africa. Erdogan has stated his relationship with Putin is based on a. joint understanding, mutual trust and regard. Putin has. called Erdogan a strong leader and dependable partner while. likewise stating he has not constantly discovered him simple to handle. Their two nations, both with Black Sea coasts, have broadened. cooperation on trade, tourist and energy given that Russia's. full-scale invasion of Ukraine, although Turkey has opposed. Moscow's intervention and provided Kyiv with attack drones.
Military powerhouse Russia and local power Turkey. supported opposing sides in wars in Syria and Libya, and were. not constantly on the same page in conflicts between Armenia and. Azerbaijan over the Nagorno-Karabakh area.
In Syria, Putin backed President Bashar al-Assad while. Erdogan backed rebel fighters. To head off the hazard of direct. confrontation in early 2020, they struck one of a series of. ceasefire deals after 34 Turkish soldiers were eliminated in an air. strike in Idlib, where Russian jets were patrolling.
In 2019, Turkey outraged its NATO allies by buying Russian. S-400 missiles, air defences that the Western defence alliance. had actually alerted were incompatible with its systems and a security. risk.
In reaction, Washington imposed sanctions on Turkey's. defence markets and ousted it from an F-35 fighter jet. program where it was a manufacturer and buyer.
Ankara has not used the S-400 batteries since then, however says. they are at the prepared.
ENERGY, ELECTIONS AND FOREX RESERVES
When energy rates soared with Russia's invasion of Ukraine. in early 2022, Turkey was vulnerable as an importer of nearly. all its energy needs with an economy struck by a currency crash. that sustained inflation and diminished its forex. reserves. Russia, Turkey's biggest gas supplier, threw Ankara a lifeline. by permitting it to postpone payment of gas imports till 2024, a. move that sources said concealed to $4 billion in payments.
The offer assisted Turkish authorities preserve enough reserves. to stabilise the lira till a May 2023 election that Erdogan. directly won. Afterwards, the currency hit brand-new lows. Right before the vote, Erdogan's opposition accused Russia of. interfering in Turkey's internal affairs and stated his party had. evidence - without exposing any - that it was behind the. release of deep-fake online content. Both the Kremlin and Erdogan dismissed the allegation and. continued broadening energy cooperation, including at Turkey's. Akkuyu nuclear reactor. Russia's nuclear energy company. Rosatom built the plant, the opening of which has been postponed. after Germany kept key parts.
In 2022, Putin proposed producing a Russian gas center in. Turkey that would help it reroute exports, after European. nations curbed imports over the Ukraine war. Turkey is working out the proposition and might take advantage of its. comprehensive gas infrastructure to end up being an alternative supplier. to countries such as Bulgaria, Hungary and Moldova, with which. it signed separate deals in 2023.
SANCTIONS, TRADE AND OLIGARCHS
Turkey has opposed sanctions on Russia and opened its doors. to Russian travelers and migrants, including oligarchs seeking. safe houses for their luxury yachts and investments. Russians are now. the leading foreign purchasers of Turkish homes.
Bilateral trade has actually reached record levels, with Turkish. exports to Russia up 17% to $11 billion in 2023, according to. the Turkish Stats Institute data. Ankara has actually faced Western allegations that Russia is getting. war-related items such as chips and semiconductors by means of Turkey. and the United States; European nations have actually imposed sanctions. on numerous Turkish entities - and threatened more.
Ankara has said nothing that transits its area is used. in Russia's war in Ukraine. Earlier this year, Turkish exporters to Russia faced more. payments issues. The Kremlin stated it understood Turkish. banks tightening rules on Russian clients, and has been working. with Turkey to find equally appropriate services.
DIPLOMACY
Turkey has actually kept close ties with both Kyiv and Moscow, hosted. talks between them in 2022 and placed itself as a natural. facilitator of future peace talks.
Putin and Erdogan have actually held a number of calls and a handful of. conferences given that the war started, contacts that supplied the Russian. president a platform together with a NATO leader and NATO with a. trusted line to Moscow. Highlighting his balancing act with Russia and NATO, Erdogan has. declared support for Ukraine signing up with the military alliance but. postponed Sweden's subscription bid.
Turkey's diplomacy and control of the straits linking the. Black Sea to world markets put it at the centre of an agreement. in between Russia, Ukraine and the United Nations on safe passage. of Ukrainian agriculture exports and enhanced Russian exports.
The U.N. declared Erdogan's function in co-brokering the 2022. Black Sea Grain Initiative, which it stated assisted relieve world. hunger by freeing up exports of 2 top international producers. Putin quit the deal in July 2023, in spite of pleas by Turkey to. both sides, mentioning obstacles to Russian food and fertiliser. exports and questions about the locations of Ukrainian. grain.
In recent months, Turkey has actually also voiced a desire to join. the BRICS group, which initially included Brazil, Russia,. India, China and South Africa, and has actually expanded to include. Ethiopia, Iran, Egypt and the United Arab Emirates. Ankara sees BRICS as a chance for more financial. cooperation with member states, instead of an option to. its Western ties and NATO subscription. Then U.S. Ambassador to Turkey Jeff Flake informed Reuters in June. that while he hoped Turkey would not sign up with BRICS, such a relocation. would not alter its alignment with the West.
(source: Reuters)