Fourth Leak on Pipelines Infrastructure Adds Pressure on Europe’s Energy Prices

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September 30, 2022

A Fourth Leak observed on Pipelines Infrastructure will Add more Pressure on Europe’s Natural Gas Prices.

The warning came as the Swedish coast guard confirmed a fourth leak on the pipelines off southern Sweden, which is in the process of joining NATO.

The first leaks in the pipelines that extend from Russia to Germany were reported on Tuesday September 28, prompting energy companies and European governments to beef up security.

The NATO military alliance warned Thursday it would retaliate for any attacks on the critical infrastructure of its 30 member countries and joined other Western officials in citing sabotage as the likely cause of damage to two natural gas pipelines in the Baltic Sea.

The fear of further damage to Europe’s energy infrastructure has added pressure on natural gas prices, which had already been soaring. Russia, a major supplier to Europe, cut off deliveries earlier this year in retaliation for sanctions imposed after its invasion of Ukraine. That has caused widespread economic pain across the continent.

NATO ambassadors said in a statement that “any deliberate attack against allies’ critical infrastructure would be met with a united and determined response.” They refrained from saying who they thought was responsible, even though some allies like Poland, and many experts, have said they believe that Russia is responsible.

UK Central Bank Intervenes In Market, Govt. Insist On Growth Plan Despite Budget Criticism

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Elizabeth Williams

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September 30, 2022

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The Bank of England took emergency action Wednesday to stabilize U.K. financial markets and head off a crisis in the broader economy after the government spooked investors with a program of unfunded tax cuts, sending the pound tumbling and the cost of government debt soaring.

Sterling came under fresh selling pressure Wednesday after UK tax plans were criticized by the IMF, Moody’s and others.

The central bank warned that crumbling confidence in the economy posed a “material risk to U.K. financial stability,” while the International Monetary Fund took the rare step to urge a member of the Group of Seven advanced economies to abandon its plan to cut taxes and increase borrowing to cover the cost.

Kwasi Kwarteng says ‘the UK Government is sticking with the growth plan’ despite budget criticism from MP’s.

The Bank of England said it would buy long-term government bonds over the next two weeks to combat a recent slide in British financial assets. The bank’s actions are focused on long-term government debt, where yields have soared in recent days, pushing up government borrowing costs.

Finland Shuts Out Russian Tourists

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Elizabeth Williams

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September 30, 2022

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Foreign minister Pekka Haavisto has announced, Finland’s borders will be closed to Russian tourists.

Haavisto said “The aim of the resolution is to halt Russian tourism into Finland and transit through Finland to other Schengen countries. In the resolution the government notes that the entry of Russian citizens in tourist purposes into Finland endangers Finland’s international relations.”

The closure shuts off the last remaining direct land route to the European Union for thousands of Russians seeking to avoid conscription into the war in Ukraine.

The Finnish government said the move will lead to a significant drop in cross-border traffic.

That after almost 17,000 Russians crossed the border into Finland during the weekend – an almost 80% rise on the number the week prior.

With the decision, Finland joined the other EU member countries sharing land borders with Russia which had already barred Russian tourists.

Its government had been wary of being a transit nation into western Europe’s passport-free Schengen zone.

US To Focus New Russia Sanctions On Oil Revenue, Arms Supplies

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Elizabeth Williams

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September 30, 2022

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Two architects of the Biden administration’s sanctions campaign told lawmakers on Wednesday; Future sanctions over President Vladimir Putin’s invasion of Ukraine must focus on depriving Putin of what he needs to fund and fight the war:

Revenue from Russia’s oil and gas sales and access to global supply networks to replenish his military are major targets.

While calling for stronger action against Russia, the State and Treasury department officials appearing before the Senate Foreign Relations Committee faced complaints from both Democrats and Republicans that the first rounds of sanctions did not hit Moscow as hard or fast as the administration had forecast.

In response to those referendums, the U.S. and its allies are preparing new sanctions that White House press secretary Karine Jean-Pierre said Wednesday would impose a “severe economic cost on Russia when they move forward with annexation.”

Senators and the two Biden administration officials — Elizabeth Rosenberg, an assistant Treasury secretary, and James O’Brien, head of the State Department’s sanction coordination office — focused Wednesday on additional penalties aimed at making it impossible for Russia to keep prosecuting the war.

EU Says Ready To Make Russia Pay ‘Hefty Price’ For Annexation

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Elizabeth Williams

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September 30, 2022

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The European Union Bloc refuses to recognize results of what they call ‘sham’ referendums by Russia saying it is an ‘illegal’ annexation .

The European Union is ready to make the Kremlin pay a “hefty price” for the latest escalation of the conflict in Ukraine by announcing the annexation of four regions, Luhansk, Donetsk, Kherson, and Zaporizhzhia regions, EU official said on Thursday.

Dana Spinant, the European Commission’s deputy chief spokesperson, told a daily news briefing.

Referring to EU foreign policy chief Josep Borrell’s recent announcement on the bloc’s eighth sanctions package against Russia, she asserted that the EU is “ready to make the Kremlin (pay) a hefty price for this new escalation.”

The EU also asked UN nations to follow its example and not recognize this “illegal” annexation, “as Russia is stepping up from its escalation to actually grabbing territories from Ukraine,”

Nord Stream Leaks Spur Accusations Of Sabotage

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Elizabeth Williams

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September 30, 2022

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The European Union is investigating the cause of the leaks in the Nord Stream 1 and 2 pipelines under the Baltic Sea and has said it suspects sabotage, to which it promised a “robust and united response.” But it has not said who is to blame.

Meanwhile, NATO Secretary-General Jens Stoltenberg warned “any deliberate attack against Allies’ critical infrastructure would be met with a united and determined response.”

And an EU official drew a direct link between the Nord Stream leaks and the Russian invasion of Ukraine, saying about the possible sabotage of pipelines, “this fundamentally changes the nature of the conflict as we have seen it so far.”

Nigeria Duty To Ensure Safer Maritime Environment – Minister

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Elizabeth Williams

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September 30, 2022

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Nigeria’s Minister of Transportation, Mu’azu Sambo, says the Nation is duty bound to contribute to global efforts to ensure safer environment in all sectors, including shipping.

Sambo said this at the 2022 International Maritime Organisation (IMO) World Maritime Day celebration on Thursday in Lagos, adding that Nigeria was targeting zero carbon shipping by 2050.

The event had the theme, “New Technologies for Greener Shipping”.

He said there was need for the global maritime community to prioritise the imperative of sustainable policies, practices and projects, which would ensure the protection of the immediate marine environment and survival of mankind.

According to Sambo, the need for new technology to drive the maritime sector has become imperative, hence all hands must be on deck to support a green transition of the maritime industry into a sustainable future.

“A green future equally implies the commitment by the private sector, to invest in more modern platforms and assets, which will meet the emission levels of the future.

“It is against this backdrop that I earlier stated my commitment to the actualisation of the Cabotage Vessel Financing Fund (CVFF), which I am convinced will offer a veritable platform for the acquisition of newer vessels by our indigenous operators.

Nigeria-Saudi Chamber Of Commerce To Increase Trade Volume

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Elizabeth Williams

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September 30, 2022

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The Federal Government says the approval of the NIgeria-Saudi Arabia Chambers of Commerce, Industry, Mines and Agriculture (NSCCIMA), will increase trade volume between both countries and reduce trust deficit.

The Minister of Information and Culture, Alhaji Lai Mohammed said this on Thursday in Abuja, when the President of the Chamber, Alhaji Ibrahim Usman paid him a courtesy visit.

The News Agency of Nigeria (NAN) reports that Usman presented a copy of the Certificate of Registration of the Chamber to the minister.

Mohammed hailed the registration of the Chambers after 11 years, adding that it would improve the volume of trade between both countries, currently put at about five million dollars.

He said the Chamber will also become a clearing house for businesses and investments, thereby, reducing trust deficit between business men from both countries.

According to the minister, the Chambers is the beginning of a new relationship between Nigeria and Saudi Arabia, though both countries have cordial relations.

IMF Proposes Fiscal Reforms To Reduce Nigeria’s Food Inflation

By

Elizabeth Williams

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September 30, 2022

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The International Monetary Fund (IMF) has prescribed a mix of fiscal, monetary, and structural reforms to help lower soaring food inflation in Nigeria, Ghana, and other countries in sub-Saharan Africa.

The multilateral lender declared that food prices tend to be higher in countries with weaker fiscal management and elevated public debt. The IMF said it noted that those countries with stronger monetary policy frameworks are better at curbing direct and second-round food price inflationary pressures, and in turn, are better at controlling overall inflation.

The IMF stated that global factors were partly to blame for the rising food prices because the region imports most of its top staple foods, such as wheat, palm oil and rice, among others.

Meanwhile, the Central Bank of Nigeria has raised interest rates for local bank lending to 15.5%, its highest level yet, just two months after it was pegged at 14%. The bank’s governor Godwin Emefiele said the monetary policy committee voted unanimously to raise the rate after deliberating on the impact of the widening margin between policy rate and the inflation rate.

Nigeria’s economy continues to struggle amid dwindling reserves and poor foreign exchange earnings.

Ebonyi Records Eight Cases Of Rabies In Nine Months

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Olasunbo Okoromi

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September 30, 2022

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Ebonyi state recorded eight cases of rabies between January and September, the Commissioner for Health, Ebonyi State, Dr Daniel Umezurike said this on Wednesday.

Umezurike gave the figure during Ebonyi Dog-Mediated Human Rabies Control Programme, an event to mark this year’s World Rabies Day.

The 2022 edition of the event was organised by the state Ministry of Agricultural and Natural Resources in collaboration with the Ministries of Health and Environment as well as Grant and Donor Agencies.

Umezurike stated that five human contacts were listed, vaccinated and currently under surveillance. The commissioner described rabies as a viral infection spread via saliva, through a bite of a rabies infected animal in direct contact with human fresh skin wounds.

He explained that a furious rabies case would be hyperactive and might display erratic behaviour with symptoms of insomnia, excess salivation problem in swallowing, as well as other symptoms which might take long to set in.

He added that collaboration was a key strategy for prevention, as a dog as well as human prevention vaccines and public awareness, would prevent the disease.

“Prevention of rabies can be done by eliminating rabies in dogs through vaccination which is the most cost effective strategy for prevention in people. Dog vaccination reduces deaths attributed to dog mediated rabies.”

He urged residents in the state to remain calm, go about their businesses, avoid self-medication and reports suspected cases to health authorities.

The Commissioner for Agriculture, Prof. Humphery Nwobashi, corroborated the figure given by his health counterpart and said that all the cases had both human and animal contacts. He stressed the need for concerned authorities to come together under one health to mitigate the risk of rabies in both humans and animals.

According to him, practices such as mass animal vaccination, vaccination of people who have contact with rabid animals and control of stray dogs would mitigate the risk.

He said that the ministry was prepared to collaborate with the mission of one-health, zero deaths by eliminating dog medicated rabies.

On his part, the Commissioner for Environmental, Dr Richard Nnabu, cautioned owners of stray dogs to tame them as measures would be taken to prosecute such people.

The State Coordinator, World Health Organisation, Dr Vivian Ibeziako, described the theme of the event as critical to the organisation. She urged such agencies and partners to strengthen collaborations in animal health and other key programmes for good healthcare of society. She gave the assurance of the support and collaboration of the organisation to prevent rabies infections in the state.

Similarly, the Director of Ebonyi Veterinary Services in the ministry of agriculture, Dr Ephraim Nwanga, emphasized the need for reporting cases and teamwork for better results. The event featured the demonstration of pre-exposure prophylaxis of human anti-rabies vaccine on veterinary officers by the commissioner for health.