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Libya Observer
3 days ago
- Politics
- Libya Observer
Security Council extends mandate to inspect ships off Libya's coast
The United Nations Security Council has extended its mandate allowing member states to inspect ships suspected of violating the arms embargo on Libya. The resolution, numbered 2780, was submitted by France and Greece and was adopted with 13 votes in favor, while Russia and China abstained. The decision renews the mandate for six months, enabling member states or regional organizations—such as the EU's Operation IRINI—to inspect vessels in international waters heading to or from Libya, provided there are reasonable grounds to suspect they are carrying weapons or related materials in violation of the embargo. The resolution also requests the UN Secretary-General to report back to the Security Council within five months on its implementation. Russia and China expressed doubts about the effectiveness of the EU-led Operation IRINI, currently the sole entity implementing this mandate, and voiced concerns over the disposal methods of seized materials. The Security Council imposed the arms embargo on Libya in 2011 following the ousting of Muammar Gaddafi. In 2016, Resolution 2292 authorized ship inspections to enforce the embargo. Tags: UN Security Council Operation IRINI
Miami Herald
27-05-2025
- Business
- Miami Herald
Putin's War Taxes Are Crippling Russia's Oil Industry
The tax burden on Russia's oil industry is severe and making production of the country's critical export unprofitable, a Russian energy minster has said. Anton Rubtsov made the comments on Tuesday as Russia faces dwindling revenues from its oil exports, which are key to financing Vladimir Putin's war effort in Ukraine. Newsweek has contacted the Russian energy ministry for comment. The price of Russia's flagship Urals crude grade has plunged alongside all major oil benchmarks. Reuters reported Russia's oil and gas revenue had fallen by a third in May from a year earlier to 0.52 trillion rubles ($6.48 billion), which is the lowest level since July 2023 amid weaker oil prices and a strengthening of the Russian currency. The comment from a Russian energy minister about the taxation the oil industry faces signals further the complications Moscow has in extracting revenues from its key resources. In 2023, Russian oil producers faced big tax increases to replace lost revenues resulting from Western sanctions imposed following Russia's invasion of Ukraine. The sanctions included a G7 and EU-led measure to impose a $60 price cap on seaborne oil, although Moscow has created a "shadow fleet" that has circumvented this move. The Kremlin's shift saw a move away from taxes on oil linked to the market rate of Urals blend toward an indicator pegged to Brent, the international crude benchmark. But Rubtsov, director of the oil and gas department in Russia's Ministry of Energy, has sounded the alarm over the tax burden faced by his country's oil industry. He told an industry conference in Moscow the taxation makes oil production unprofitable and that if prices continued to fall, low production efficiency will deter long-term investment and lead to a stagnation in production. He said maintaining Russia's oil production at 540 million tons per year until 2050 will require doubling investment in the sector. In the face of rising costs, "it is necessary to reduce the tax burden," said Rubtsov, according to state news agencies. David Goldman, head of trading at Novion Global, told Newsweek on Tuesday that Moscow's energy revenues have been slashed because of sanctions and mixed signals from the government on tax highlight an unstable fiscal outlook. He said that reducing the overall tax burden on Russia's oil producers might boost production in the long term but risks widening the budget gap in the short term. The government is caught between the need to stimulate investment in a vital sector and fund a growing deficit without further depleting financial reserves, he added. Goldman noted that although Rubtsov and other officials warn of an unsustainable tax burden threatening future investment and output, Russia's government has shown a selective willingness to ease pressure on some firms, such as gas giant Gazprom, which is set to receive over 30 percent in tax relief in 2025. Anton Rubtsov, director of the oil and gas department in Russia's Ministry of Energy: "The tax burden is so substantial that today many options to maintain production are simply unprofitable." David Goldman, head of trading at Novion Global: "The situation in Russia's oil industry is far from clear-cut. While Anton Rubtsov and other officials warn of an unsustainable tax burden threatening future investment and output, the government has shown a selective willingness to ease pressure on key firms." Russia's "shadow fleet" of oil tankers was one focus for the EU's 17th package of sanctions imposed last week and an 18th package of sanctions is being planned. Meanwhile, anticipation is building over whether the Trump administration will include oil in the sanctions that the U.S. president has threatened if Putin does not agree to peace talks. Related Articles Putin Giving 'Shadow Fleet' Warship Escorts: Finland Defense OfficialZelensky Raises Alarm Over New Russian Offensive: 'Ample Evidence'Putin's Henchman Addresses Rumors He's DyingUkrainian MiG-29 Fighter Jets Bomb Russian Special Services Base 2025 NEWSWEEK DIGITAL LLC.
Newsweek
27-05-2025
- Business
- Newsweek
Putin's War Taxes Are Crippling Russia's Oil Industry
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The tax burden on Russia's oil industry is severe and making production of the country's critical export unprofitable, a Russian energy minster has said. Anton Rubtsov made the comments on Tuesday as Russia faces dwindling revenues from its oil exports, which are key to financing Vladimir Putin's war effort in Ukraine. Newsweek has contacted the Russian energy ministry for comment. This illustrative image from 2015 shows an oil terminal in Novorossiysk, Russia. This illustrative image from 2015 shows an oil terminal in Novorossiysk, It Matters The price of Russia's flagship Urals crude grade has plunged alongside all major oil benchmarks. Reuters reported Russia's oil and gas revenue had fallen by a third in May from a year earlier to 0.52 trillion rubles ($6.48 billion), which is the lowest level since July 2023 amid weaker oil prices and a strengthening of the Russian currency. The comment from a Russian energy minister about the taxation the oil industry faces signals further the complications Moscow has in extracting revenues from its key resources. What To Know In 2023, Russian oil producers faced big tax increases to replace lost revenues resulting from Western sanctions imposed following Russia's invasion of Ukraine. The sanctions included a G7 and EU-led measure to impose a $60 price cap on seaborne oil, although Moscow has created a "shadow fleet" that has circumvented this move. The Kremlin's shift saw a move away from taxes on oil linked to the market rate of Urals blend toward an indicator pegged to Brent, the international crude benchmark. But Rubtsov, director of the oil and gas department in Russia's Ministry of Energy, has sounded the alarm over the tax burden faced by his country's oil industry. He told an industry conference in Moscow the taxation makes oil production unprofitable and that if prices continued to fall, low production efficiency will deter long-term investment and lead to a stagnation in production. He said maintaining Russia's oil production at 540 million tons per year until 2050 will require doubling investment in the sector. In the face of rising costs, "it is necessary to reduce the tax burden," said Rubtsov, according to state news agencies. David Goldman, head of trading at Novion Global, told Newsweek on Tuesday that Moscow's energy revenues have been slashed because of sanctions and mixed signals from the government on tax highlight an unstable fiscal outlook. He said that reducing the overall tax burden on Russia's oil producers might boost production in the long term but risks widening the budget gap in the short term. The government is caught between the need to stimulate investment in a vital sector and fund a growing deficit without further depleting financial reserves, he added. Goldman noted that although Rubtsov and other officials warn of an unsustainable tax burden threatening future investment and output, Russia's government has shown a selective willingness to ease pressure on some firms, such as gas giant Gazprom, which is set to receive over 30 percent in tax relief in 2025. What People Are Saying Anton Rubtsov, director of the oil and gas department in Russia's Ministry of Energy: "The tax burden is so substantial that today many options to maintain production are simply unprofitable." David Goldman, head of trading at Novion Global: "The situation in Russia's oil industry is far from clear-cut. While Anton Rubtsov and other officials warn of an unsustainable tax burden threatening future investment and output, the government has shown a selective willingness to ease pressure on key firms." What Happens Next Russia's "shadow fleet" of oil tankers was one focus for the EU's 17th package of sanctions imposed last week and an 18th package of sanctions is being planned. Meanwhile, anticipation is building over whether the Trump administration will include oil in the sanctions that the U.S. president has threatened if Putin does not agree to peace talks.
Irish Independent
23-05-2025
- Politics
- Irish Independent
Mary Lou McDonald accuses Government of undermining Irish neutrality
Speaking in the first of a series of meetings to Defend Irish Neutrality, Sinn Féin Leader Mary Lou McDonald said: 'We will go to the four corners of Ireland to say with one voice that we will not stand by while our neutrality is undermined and attacked by Fianna Fail and Fine Gael, and by the militarisation agenda at the heart of the European Union.' Meetings will take place across the country in the coming months culminating with events in Dublin and Belfast. Ms McDonald was joined at the Cork meeting by local TD Donnchadh Ó Laoghaoire who is the Sinn Féin Foreign Affairs Spokesperson. The leader of Sinn Féin said Fine Gael have long set their face against Irish neutrality. 'The meetings are the first step in the campaign to defend Irish neutrality in the face of Irish government moves to undermine neutrality, the first step of which is the removal of the Triple Lock. 'Legislation from Simon Harris to end the Triple Lock will be published in the coming days. It is no surprise that Fine Gael are seeking to do this. They have long set their face against Irish neutrality. It's more than two decades since they launched their ill-fated document 'Beyond Neutrality'. They are joined by Fianna Fáil who have now abandoned their long standing position on Irish neutrality,' she added. Ms McDonald continued: 'In the most cynical effort the two parties have joined forces to use the volatility in the world as an alibi to tear down our neutrality, to dismantle the Triple Lock so that Irish soldiers can be deployed in EU-led and NATO-led military misadventures that are not in Ireland's interests, and without an UN mandate. This sends a message that the United Nations no longer matters.' Our neutrality has stood us in good stead,' declared Ms McDonald. 'It's the bedrock upon which Ireland built a powerful reputation as a voice for peace, freedom and justice in the world, as an honourable defender of human rights and democracy, as a respected champion of conflict resolution through dialogue. It has allowed members of our defence forces to wear the blue beret of UN Peacekeeping missions with pride and stand in protection of the vulnerable throughout the world.' The President of Sinn Féin acknowledged that we are now living in an uncertain world, but she reiterated that is why preserving and strengthening Irish neutrality has never been more important. 'Never has it been more crucial for neutral states to stand-up and be counted, to confront the instinct of the powerful to arm-up, flex their military muscles and go to war. The battle to save Irish neutrality is on. We will fight back with everything we've got against this disgraceful plan from Fianna Fáil and Fine Gael.' 'We will campaign relentlessly,' said Ms McDonald. 'On the streets, in our communities, on the airwaves, and in the Dáil. We will ask people to join us, to get involved, to play their part, to put their feet on the street and raise their voices loudly in protest.' During her visit to Cork, the Sinn Féin leader also visited residents from the Clashduv Road flats in Togher. Ms McDonald said the flats have been neglected for far too long. 'Built in the 1970s, these flats face damp, rusted railings, uneven floors and rodents. Children play near danger. 'Families live with daily discomfort. They deserve better. Regeneration is urgent. The residents are the heart of these flats. The government cannot keep turning away,' she added.
Irish Independent
23-05-2025
- Politics
- Irish Independent
Sinn Féin party leader calls out Irish Government for undermining Irish neutrality at public meeting in Cork
Speaking in the first of a series of meetings to Defend Irish Neutrality, Sinn Féin Leader Mary Lou McDonald said: 'We will go to the four corners of Ireland to say with one voice that we will not stand by while our neutrality is undermined and attacked by Fianna Fail and Fine Gael, and by the militarisation agenda at the heart of the European Union.' Meetings will take place across the country in the coming months culminating with events in Dublin and Belfast. Ms McDonald was joined at the Cork meeting by local TD Donnchadh Ó Laoghaoire who is the Sinn Féin Foreign Affairs Spokesperson. The leader of Sinn Féin said Fine Gael have long set their face against Irish neutrality. 'The meetings are the first step in the campaign to defend Irish neutrality in the face of Irish government moves to undermine neutrality, the first step of which is the removal of the Triple Lock. 'Legislation from Simon Harris to end the Triple Lock will be published in the coming days. It is no surprise that Fine Gael are seeking to do this. They have long set their face against Irish neutrality. It's more than two decades since they launched their ill-fated document 'Beyond Neutrality'. They are joined by Fianna Fáil who have now abandoned their long standing position on Irish neutrality,' she added. Ms McDonald continued: 'In the most cynical effort the two parties have joined forces to use the volatility in the world as an alibi to tear down our neutrality, to dismantle the Triple Lock so that Irish soldiers can be deployed in EU-led and NATO-led military misadventures that are not in Ireland's interests, and without an UN mandate. This sends a message that the United Nations no longer matters.' Our neutrality has stood us in good stead,' declared Ms McDonald. 'It's the bedrock upon which Ireland built a powerful reputation as a voice for peace, freedom and justice in the world, as an honourable defender of human rights and democracy, as a respected champion of conflict resolution through dialogue. It has allowed members of our defence forces to wear the blue beret of UN Peacekeeping missions with pride and stand in protection of the vulnerable throughout the world.' The President of Sinn Féin acknowledged that we are now living in an uncertain world, but she reiterated that is why preserving and strengthening Irish neutrality has never been more important. 'Never has it been more crucial for neutral states to stand-up and be counted, to confront the instinct of the powerful to arm-up, flex their military muscles and go to war. The battle to save Irish neutrality is on. We will fight back with everything we've got against this disgraceful plan from Fianna Fáil and Fine Gael.' 'We will campaign relentlessly,' said Ms McDonald. 'On the streets, in our communities, on the airwaves, and in the Dáil. We will ask people to join us, to get involved, to play their part, to put their feet on the street and raise their voices loudly in protest.' During her visit to Cork, the Sinn Féin leader also visited residents from the Clashduv Road flats in Togher. Ms McDonald said the flats have been neglected for far too long. 'Built in the 1970s, these flats face damp, rusted railings, uneven floors and rodents. Children play near danger. 'Families live with daily discomfort. They deserve better. Regeneration is urgent. The residents are the heart of these flats. The government cannot keep turning away,' she added.
