International
US to ban all Russian oil imports, reports say
Joe Biden has decided to ban Russian oil imports to America in a dramatic ratcheting up of the economic squeeze on Vladimir Putin’s regime, according to reports from the US.
The move follows pleas by Ukrainian President Volodymyr Zelensky to US and Western officials to cut off the imports, which had been a glaring omission in the massive sanctions put in place on Russia over the invasion of Ukraine.
Energy exports have kept a steady influx of cash flowing to Russia despite otherwise severe restrictions on its financial sector.
The US president was set to announce the move as soon as Tuesday, one source told the Associated Press.
Other media outlets had similar reports.
The White House said Mr Biden would speak Tuesday morning to announce “actions to continue to hold Russia accountable for its unprovoked and unjustified war on Ukraine.”
The Kremlin has threatened to retaliate by cutting off gas supplies to Europe and other countries in the West, though this would deliver a major blow to the Russian economy.
It comes after Russia threatened to cut off gas supplies to the West by closing the Nord Stream 1 Pipeline via Germany.
READ ALSO:
- Court remands 2 men for allegedly defiling a minor
- Just in: Court sacks Governor Umahi, deputy over defection from PDP
- Reps to reconsider three bills affecting women
- My brother’s widow and I were offered N120m for settlement – Slain OAU student’s sibling
Alexander Novak, Russia’s deputy prime minister, warned his Government could “impose an embargo” on gas supplies in retaliation for economic sanctions.
Germany last month confirmed it would ban the expensive Nord Stream 2 Gas pipeline in response to Russia’s invasion of Ukraine. The war has claimed the lives of over 1,000 civilians since February 24, according to the United Nations, with the true toll likely to be much higher.
Speaking to state media on Monday, Mr Novak claimed that Russia has “every right” to take a “matching decision” and “impose an embargo on gas pumping through the Nord Stream 1 gas pipeline”.
However, he stressed that a decision on whether to do so had not yet been taken and the pipeline is currently operating “at full capacity”.
His warning comes as the US pushes western allies to consider a ban on Russian oil imports.
US secretary of state Antony Blinken said earlier Washington was in “very active discussions” with countries in Europe over banning imports of Russian oil. Two White House officials briefed the Reuters news agency that President Biden was willing to move ahead without its European partners.
Energy minister Lord Callanan warned that a ban on Russian gas and oil imports was under “urgent review” as part of sanctions against the Kremlin.
The move would severely damage the Russian economy, which has already been devastated by sanctions.
Mr Novak said a “rejection of Russian oil would lead to catastrophic consequences for the global market”, adding that the price of oil could rise to more than $300 a barrel.
Brent crude was at its highest price since 2008 on Monday after touching $139 per barrel, with the rise likely to put a further squeeze on households.
According to data from Eurostat, around a quarter of the European Union’s oil imports and around 46 per cent of its gas came from Russia in the first part of last year.
The UK is less reliant on Russia for both but prices here largely mirror those in Europe.
German Chancellor Olaf Scholz has publicly argued that western allies should put “sustainable” pressure on Russia while minimising the impact on households.
“All our steps are designed to hit Russia hard, and be sustainable over the long term,” he said in a statement.
“At the moment, Europe’s supply of energy for heat generation, mobility, power supply and industry cannot be secured in any other way.”
Evening Standard
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.
READ ALSO:
- Mike Tyson back in ring to face Youtuber Paul
- NNPCL sacks CFO, announces three new appointments
- NRC increases trips on Abuja-Kaduna route from four to six
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.
READ ALSO:
- 24-hour power supply: FG seeks private sector support for $10bn funding gap
- Shell working to address Nigeria’s energy challenges – MD
- 12-yr-old Nigerian girl invents air filter, gets $11.5m funding
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.
READ ALSO:
- Alleged fraud: South Africa FA President, Danny Jordaan, arrested
- Okpebholo sacks all political appointees, Board executives in Edo
- A’Ibom police saved man from being lynched after son’s corpse found in carton
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
-
International3 days agoBelgium University offers scholarship up to €12,000 for Master’s students
-
Sports12 hours agoBREAKING: Super Eagles qualify for AFCON 2025
-
Railway3 days agoNigerian railway adds extra train to Friday, Saturday trips on Lagos-Ibadan route
-
Aviation13 hours agoDisaster averted as bird strike hits Abuja-Lagos Air Peace flight
-
International3 days agoUK announces 45,000 seasonal worker visas for 2025
-
Education2 days ago12-year-old Nigerian girl Eniola Shokunbi invents air filter to reduce spread of diseases in US schools
-
International3 days agoSaudi crown prince says Israel committing ‘genocide’ in Gaza
-
Business3 days agoTop 5 crypto apps that work with Nigerian Bank accounts