International
Biden announces new sanctions on Russia, says Putin ‘chose’ war
US President Joe Biden on Thursday announced new sanctions on Russia after its invasion of Ukraine, saying that Russian leader Vladimir Putin “chose this war” and his country would bear the consequences.
The sanctions target Russian banks, oligarchs and high-tech sectors, Biden said.
The United States and its allies will block assets of four large Russian banks, impose export controls and sanction oligarchs.
Biden had on Tuesday announced first tranche of sanctions on Russia, following its decision to recognise the independence of certain areas of Ukraine’s Donetsk and Luhansk regions.
The President announced the sanctions at the White House while Ukraine’s government reported mounting casualties inflicted by Russian forces attacking from the east, north and south.
He said: “The sanctions measures impose severe costs on Russia’s largest financial institutions and will further isolate Russia from the global financial system.
“With today’s financial sanctions, we have now targeted all ten of Russia’s largest financial institutions, including the imposition of full blocking and correspondent and payable-through account sanctions, and debt and equity restrictions, on institutions holding nearly 80 per cent of Russian banking sector assets.
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“The unprecedented export control measures will cut off more than half of Russia’s high-tech imports, restricting Russia’s access to vital technological inputs, atrophying its industrial base, and undercutting Russia’s strategic ambitions to exert influence on the world stage.”
According to him, the impact of these measures will be significantly magnified due to historical multilateral cooperation with a wide range of Allies and partners who are mirroring our actions, inhibiting Putin’s ambition to diversify Russia’s brittle, one-dimensional economy.
Biden added: “The scale of Putin’s aggression and the threat it poses to the international order require a resolute response, and we will continue imposing severe costs if he does not change course.”
The US leader said Russia’s economy had already faced intensified pressure in recent weeks, noting that just today its stock market sunk to its lowest level in four and half years.
With these new stringent measures, he said these pressures would further accumulate and suppress Russia’s economic growth, increase its borrowing costs, raise inflation, intensify capital outflows, and erode its industrial base.
He said: “The United States and our Allies and partners are unified and will continue to impose costs, forcing Putin to look to other countries that cannot replicate the financial and technology strengths of Western markets.”
He said the US would be deploying additional forces to Germany to bolster NATO after the invasion of Ukraine, which is not a member of the defence organisation.
Approximately 7,000 additional US troops will be sent.
Biden said Putin’s threatening actions and now his unprovoked aggression toward Ukraine were being met with an unprecedented level of multilateral cooperation.
He said the United States welcomed the commitments by Australia, Canada, European Union, Japan and United Kingdom.
He said: “They would also take similarly forceful actions to hold Russia accountable – demonstrating the strength of our partnerships and deepening the impact on Russia more than any action we could have taken alone.
“This follows our joint action earlier this week to impose a first tranche of severe sanctions on Russia.:
Biden spoke hours after holding a virtual meeting with the leaders of Britain, Canada, France, Italy and Japan.
European Commission President Ursula von der Leyen, European Council President Charles Michel, and NATO Secretary General Jens Stoltenberg also joined the meeting.
The president also met with his national security team in the White House Situation Room as he looked to flesh out US moves in the rapidly escalating crisis.
International
American man arrested for beating tourist to death at Ireland hotel
American man arrested for beating tourist to death at Ireland hotel
A 30 year old American man whose name was not given by security officials, has been arrested for beating up a 60 year old tourist to death at the Ballyfin Demesne hotel in Laois, Ireland.
The Irish police force commonly known as ‘Garda Síochána’ announced that the incident occurred in the late hours of Tuesday, November 12.
Ballyfin Demesne hotel, is a popular luxury five-star hotel located in Laois, Ireland and special guests such as Kanye West, Kim Kardashian, George Clooney e.t.c had made use of the hotel in times past.
The victim was discovered unconscious in the late hours of Tuesday, November 12 and was then rushed to the hospital were he died due to severe beating inflicted on him by the culprit.
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Independent local councilor James Kelly stated that nearby communities were ‘stunned’ upon learning about the incident at the renowned hotel.
He said, “There would be a lot of staff from the area and they’re totally shocked by what has happened here.
“It’s something we didn’t think we’d be waking up to this morning.”
The police also noted that a senior officer has been assigned to lead the investigation and an incident room has been set up at Portlaoise Garda Station, Ireland.
Furthermore, a family liaison officer will be designated to assist the family of the deceased.
International
FBI raids home of crypto platform Polymarket CEO, after accurate prediction of Trump win
FBI raids home of crypto platform Polymarket CEO, after accurate prediction of Trump win
The Federal Bureau of Investigation on Wednesday carried out a raid at the home of Shayne Coplan, CEO of cryptocurrency prediction outlet Polymarket.
Authorities seized Mr Coplan’s phone during the raid, according to New York Post which first reported the incident.
Mr Coplan, 26, has been running the famous platform for bets throughout the 2024 presidential election in the United States.
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It wasn’t immediately clear why the search was conducted, but Polymarket promptly said it might be due to its activities during the election. Users on the platform had correctly predicted Donald Trump was going to defeat Kamala Harris. The company paid out a substantial amount to winners following the election.
“This is obvious political retribution by the outgoing administration against Polymarket for providing a market that correctly called the 2024 presidential election,” a spokesperson for Polymarket said in a statement from its headquarters in New York. “Polymarket is a fully transparent prediction market that helps everyday people better understand the events that matter most to them, including elections.”
It was unclear whether or not the FBI would be filing charges after the raid.
FBI raids home of crypto platform Polymarket CEO, after accurate prediction of Trump win
International
Two dead, buildings destroyed in American factory explosion
Two dead, buildings destroyed in American factory explosion
Two employees of Givaudan sense colour, a factory known for making colourings for beverages, located in Louisville, Kentucky, United States (US) were killed in an explosion that took place at the company’s facility.
The factory reported that the incident which took place on Tuesday, November 12 in the afternoon have also destroyed buildings around the company.
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Louisville Mayor, Craig Greenberg stated that firefighters managed to rescue and evacuate numerous individuals from the site, including some who sustained life-threatening injuries.
He also confirmed that all employees present at the plant during the explosion have been accounted for.
Earlier reports indicated that at least 11 workers were hospitalized.
The cause of the explosion is still under investigation.
Two dead, buildings destroyed in American factory explosion
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