Some member states are opposed to confiscating the funds due to fears of legal risks, Dmitry Peskov has said
The Kremlin is aware of divisions within the EU over the fate of frozen Russian assets, Kremlin spokesman Dmitry Peskov has said. Some members of the bloc are opposed to seizing the funds, citing legal risks.
An estimated $300 billion worth of Russian sovereign assets was frozen by the West following the escalation of the Ukraine conflict in February 2022. Around €200 billion ($209 billion) of this is held by Euroclear, a Brussels-based clearing house. EU foreign policy chief Kaja Kallas has repeatedly called for the funds to be tapped for Ukraine’s reconstruction.
This week, Kallas acknowledged that some member states still oppose the move, but did not specify which ones.
Peskov told journalists on Thursday that Moscow is “aware that indeed some countries do not support such an approach, as they understand the inevitable legal consequences of such actions.”
The Kremlin has condemned the freezing of its assets and warned that seizing them would amount to “theft,” hinting at possible retaliatory measures against Western investments in Russia.
The frozen funds have already accrued billions of euros in interest, with Euroclear transferring €1.55 billion to Kiev last July to back a $50 billion loan for Ukraine provided by the G7.
Some EU members, notably the Baltic and Nordic states, along with Poland and the Czech Republic, have pushed for the immediate transfer of the frozen funds to Kiev. Others, however – including France, Germany, Italy, Spain, and European Commission President Ursula von der Leyen – have been more cautious, citing legal concerns and arguing that the funds should be kept as leverage.
Belgian Prime Minister Bart De Wever has warned that confiscating Russian assets would be considered “an act of war” and could provoke a response from Moscow. Other EU officials have also raised concerns that seizing the assets without a legal basis could set a dangerous precedent and alarm global investors.
The International Monetary Fund has warned that appropriating the funds without a clear legal basis could undermine global confidence in Western financial institutions.
Southern Africa will mostly bear the brunt of America’s new trade policy
On April 2, 2025, US President Donald Trump during his ‘Liberation Day’ Speech announced the intention to impose reciprocal tariffs targeting key global trade partners. The tariffs, framed as a measure to protect American manufacturing and reduce the trade deficit, followed his earlier protectionist policies during his first term.
However, amid mounting domestic pressure from businesses and international backlash, the implementation of these tariffs was temporarily suspended, pending further negotiations and assessments of the economic impact. On April 9, Trump announced that the reciprocal tariffs above 10%, which had gone into effect that morning, would be paused for 90 days for all countries except China.
Most of the tariffs announced by Trump never fully materialized – not unlike most of his political moves. They were more bluster than action. Still, the real shift lies not in the tariffs themselves, but in what they signal: a renewed focus on America’s trade balance. This change in priorities poses a deeper challenge for global trade with a greater emphasis on increasing the presence of American-made goods both at home and abroad.
Whether this is achieved through actual tariffs, tough negotiations, or by carving out new niches for US companies is less important than the fact that the foundations of the US are fundamentally changing. Regardless of whether tariffs above 10% ever actually come to pass or whether they simply serve as a negotiating tactic, the list reveals the priorities of the new administration toward its trading partners and redefines the role of the US in their economies.
Africa has emerged as one of the primary victims of this new policy. However, it’s fair to say that most African countries have been affected indirectly; they found themselves caught in the Trump administration’s struggle to level out the balance of trade with the EU and China, and became victims of sector-specific initiatives (such as those related to the automotive and textile industries) driven by internal discussions in the US.
While the US remains a key trading partner for many African nations, Africa itself accounts for just over 1% of total US trade, and its contribution to America’s trade deficit ($1 trillion annually) is less than 1%. Each year, the US trade deficit with African countries amounts to about $10 billion, with just four nations accounting for the bulk of it: South Africa ($7 billion), Nigeria, Algeria, and Libya (over $1 billion annually, each).
The tariff rates themselves still matter, as their planned implementation was only postponed for three months to allow time for negotiations and consultations with key trade partners. This means that the entire negotiation process will unfold under the looming threat of tariffs – a classic “sword of Damocles” tactic. Even if the duties are not immediately enforced, their mere presence in the background gives the US significant leverage in shaping trade terms more favorable to American interests.
On Trump’s list, 20 African countries are facing increased tariffs: Lesotho (50%), Madagascar (47%), Mauritius (40%), Botswana (37%), Angola (32%), Libya (31%), Algeria (30%), South Africa (30%), Tunisia (28%), Namibia (21%), Zimbabwe (18%), Zambia (17%), Malawi (17%), Mozambique (16%), Nigeria (14%), Chad (13%), Equatorial Guinea (13%), Cameroon (11%), the Democratic Republic of Congo (11%), and Ivory Coast (Côte d’Ivoire) (11%).
The most significant impact will be felt by South Africa, which accounts for 70% of the overall US trade deficit with Africa. In addition to the base tariff of 30%, 25% applies to imported vehicles. South Africa is home to VW, Toyota, BMW, Mercedes, Ford, and Hyundai factories, and its auto exports to the US total $2-3 billion per year. Other major categories of South African exports include platinum group metals, ore, and fruit. However, as a large, diversified economy, South Africa can afford to lose some of its exports to the US even if it incurs losses, and redirect part of that trade toward other African and Asian markets.
Smaller countries such as Lesotho – which has been hit with a staggering 50% tariff – will find it more challenging to cope. Lesotho’s textile industry, developed primarily for the American market (exports amount to about $200 million annually) is under serious threat. Madagascar, which exports around $300 million in textiles to the US, is also strongly affected by these tariffs.
The geographical distribution of African “worst offenders” reveals that countries in Southern Africa – i.e., South Africa, Madagascar, Botswana, Mozambique, Lesotho, Zambia, Zimbabwe, and Mauritius – will bear the brunt of these tariffs. In the short term, this will likely lead to a worsening socio-economic situation in the Southern African Development Community (SADC), as shifts in export flows and economic restructuring will put additional strain on South Africa.
Despite the seemingly erratic nature of the Trump administration’s actions, the pressure on South Africa appears to be a consistent US strategy.
When analyzing the African nations hit by increased tariffs, we should note those countries that, although mentioned in Trump’s ‘Liberation Day’ announcements, received a base tariff rate of just 10%: Egypt, Morocco, Kenya, Ghana, Ethiopia, Tanzania, Senegal, and Uganda. Among these, Egypt, Morocco, and Kenya stand out as key US partners, while Ghana, Senegal, and Tanzania represent rapidly growing economies. It seems that for now, the US wants to avoid souring relations with these nations.
If these tariffs are implemented as announced or even if only the 10% base rates remain, it would still spell disaster for the African Growth and Opportunity Act (AGOA). This act provided duty-free access to the US market for certain categories of exports, including energy resources, textiles and apparel, agricultural goods, precious metals, automotive components, and pharmaceuticals. From an economic standpoint, the US has found AGOA less necessary since the mid-2010s, especially after reducing its dependence on African oil and gas imports – in 2008, $61 billion of the $66 billion in imports from AGOA countries were energy products. AGOA will expire in September 2025, and negotiations to renew it haven’t gone well, even under former US President Joe Biden. Meanwhile, Trump’s recent actions make it nearly impossible to preserve the AGOA in its current form.
For those who are unhappy with the tariffs, Trump suggests localizing production in the US. While this requirement makes sense for the EU, China, and even South Africa – countries that export finished goods – it’s unclear how raw material exporters, who make up the majority in Africa, can adapt to this demand.
In practice, the new tariff preference system is likely to take into account a range of factors: political stance and ideology, willingness to negotiate, and the provision of both formal and informal preferences to American exporters and investors.
This approach is already yielding results; for instance, Zimbabwe’s President Emmerson Mnangagwa recently announced his intention to grant duty-free access to American goods. However, this new system will be less transparent and beneficial for African suppliers, and it will be even more politically driven than AGOA.
Trump’s tariff policies and the decline of the AGOA era clearly demonstrate Washington’s evolving approach to global trade. In the late 19th century, America’s primary interest in its relations with African nations was rooted in free trade—specifically, duty-free access to African markets. This was the goal pursued by the US delegation at the Berlin Conference in 1884, which established the colonial division of Africa.
The principle of free trade (including in colonies) also underpinned the Atlantic Charter of 1941, which was a significant step toward dismantling colonial systems. While certain raw materials (like rubber or uranium from the Democratic Republic of the Congo, which powered the Manhattan Project) were important for the US, the primary focus in trade with Africa at that time was the export of goods.
However, globalization changed that dynamic, as both worldwide and in its dealings with Africa, the US shifted from being a seller to a buyer. This shift gave birth to AGOA, which provided America with oil and gas.
Since the 2010s, the US appears to be returning to a “seller” model, as evidenced by initiatives aimed at boosting American exports to Africa, such as Obama’s “Power Africa” and Trump’s “Prosper Africa” initiatives. Against this backdrop, Trump’s decisions regarding global trade and Africa seem like a logical continuation of a long-standing strategy to restructure the trade balance, regardless of which administration is in power in Washington.
For African countries, the consequences of Trump’s tariff policy are multifaceted. Firstly, these measures provide an opportunity for African nations to focus on regional markets and develop industries tailored to their national economic needs.
Secondly, the issue of trade deficits remains just as pressing for African countries as for the US. The annual negative balance ranges between $70-$100 billion, and trade deficits continue to be a key factor driving up debt levels and currency shortages. In this context, it’s unlikely that African nations will be able to increase their purchasing power without greater credit access from interested sellers, and current trends do not suggest this will happen.
Finally, it’s now unlikely that Africa will succeed Southeast Asia as the ‘world’s workshop’, particularly through offshoring US-oriented manufacturing capabilities. While relocating some production from China to Africa remains a possible scenario, it will likely be limited in scope. Thus, Africa’s industrialization will primarily depend on internal demand.
Adam Schiff has called for an investigation into who profited from the president’s tariff pause
US Democratic Senator Adam Schiff has called on Congress to investigate President Donald Trump for possible insider trading and market manipulation following his abrupt trade policy U-turn. Global stocks soared after the president paused the imposition of tariffs on a multitude of countries this week.
On Wednesday, Trump announced a 90-day pause on reciprocal tariffs against US trade partners, lowering duties to a flat 10% rate. The only exception was China, which he hit with an increase to 125% following Beijing’s tariff hike on US goods to 84%. Immediately after the announcement, US stock markets posted near-record gains after a week-long slump.
Mere hours before the announcement, Trump posted on his Truth Social platform: “BE COOL! Everything is going to work out well,”followed by, “THIS IS A GREAT TIME TO BUY!!! DJT,” referencing his media company’s stock ticker. The timing of his posts, the pause and the resulting market rally sparked speculation about market manipulation online, which became even more heated after White House aide Margo Martin posted a video of Trump praising financier Charles Schwab for making billions during the rally.
Pretty despicable to talk about how much money his friends made because he tanked the market for them. No shame.
“Trump removed many of the tariffs he had imposed in this on-again, off-again… kind of policy. This has just wreaked havoc on the markets,” Schiff said in his video address posted on X. “But there is another profound danger as well, and that is insider trading within the White House.”
“The question is, who knew what the president was going to do? And did people around the president trade stock knowing the incredible gyration the market was about to go through?” he added. Schiff went on to accuse Trump of corruption, citing his family’s crypto trading and the “conflicted self-dealing” of ally, billionaire Elon Musk.
Is Donald Trump's inner circle illegally profiting off of these huge swings in the stock market by insider trading?
“We in Congress need to do more than demand answers. We need to do the oversight necessary to get those answers… We’re going to get to the bottom of this,” he pledged.
White House press secretary Karoline Leavitt earlier claimed that the tariff reversal was part of Trump’s broader negotiation strategy, calling it his “art of the deal.” The White House has so far made no comment on Schiff’s call for a congressional probe.
Other Democrats also voiced concerns. “The President of the United States is literally engaging in the world’s biggest market manipulation scheme,” the House Democratic Financial Services Committee wrote on X, in response to Trump’s “Time to buy” post.
Rep. Steven Horsford of Nevada openly questioned whether the pause amounted to market manipulation during a House hearing with Trump’s trade representative, Jamieson Greer on Wednesday.
Rep. Alexandria Ocasio-Cortez called for all lawmakers to disclose recent stock purchases.
“I’ve been hearing some interesting chatter on the floor,” she wrote on X. “Disclosure deadline is May 15th. We’re about to learn a few things. It’s time to ban insider trading in Congress.”
The Ukrainian leader used a slur to condemn Kirill Dmitriev, Russia’s economic envoy who has been engaged in talks with Washington
Ukraine’s Vladimir Zelensky has insulted Kirill Dmitriev, an aide to Russian President Vladimir Putin, branding the Kiev-born negotiator a separatist.
Dmitriev, who serves as the Russian presidential adviser on international economic cooperation, is playing a prominent role in normalization talks with the US, focusing on potential projects that could benefit both nations.
Commenting on Dmitriev's role as a negotiator on Wednesday, Zelensky referred to him as “a separ who was born in Ukraine.” The shorthand for “separatist” has been prevalent in Ukraine since the 2014 coup in Kiev, and is used to denounce those seen as disloyal to the Ukrainian government.
Born in 1975 in Kiev, then-Soviet Ukraine, Dmitriev participated in a student exchange program to study at Foothill College in California in the early 1990s. He later pursued higher education at Stanford University and Harvard Business School, where he earned an MBA. He worked in the private sector, including for major Western firms Goldman Sachs and McKinsey, before assuming leadership of the Russian Direct Investment Fund (RDIF) in 2011.
Zelensky also alleged that Dmitriev is leveraging his business connections in the Middle East to facilitate a scheme allowing Russian nationals to recover assets frozen by Western nations.
Dmitriev traveled to Washington earlier this month to meet with senior White House officials. The US temporarily lifted personal sanctions imposed on him as CEO of the Russian welfare fund to permit his entry.
Senior Ukrainian officials have a history of provocative remarks. Andrey Melnik notably called German Chancellor Olaf Scholz “an offended liverwurst” while serving as Kiev’s ambassador in Berlin in 2022. This week, Zelensky appointed Melnik to lead the Ukrainian delegation at the UN, finalizing a decision he announced in December.
In 2021, Zelensky infamously referred to Ukrainian citizens targeted by his government with sanctions as “species” rather than human beings. The comment followed a decree from the Ukrainian Security Council that restricted the rights of Viktor Medvedchuk, then head of the largest opposition party, whom Zelensky accused of being “pro-Russian.”
Vladimir Zelensky has alleged that Chinese nationals are fighting for Russia, a claim rejected by Beijing
Claims by Vladimir Zelensky that Russia is involving China in the Ukraine conflict are false, Kremlin spokesperson Dmitry Peskov has said, insisting that Beijing maintains a neutral stance.
On Tuesday, Zelensky released a short video showing a man he claimed to be a Chinese national captured during the fighting. He alleged that two such individuals are currently in Ukrainian custody, adding that “significantly more” are serving alongside Russian forces.
“That’s not true. China has always maintained a very balanced position, so Zelensky is wrong,” Kremlin spokesman Peskov said on Thursday, stressing that China remains Russia’s strategic partner and friend.
Zelensky has also alleged that Russia is “involving China directly or indirectly” in the Ukraine conflict, urging the US and the EU to respond swiftly.
Beijing has dismissed Zelensky’s claims as “groundless,” with Foreign Ministry spokesman Lin Jian reiterating on Wednesday that the Chinese government consistently advises its citizens against participating in foreign armed conflicts in any capacity.
“China’s stance on the Ukrainian crisis is clear and unambiguous, and it has been widely acknowledged by the international community,” the spokesperson added.
China has consistently rejected Washington’s accusations that its trade with Russia is helping to fuel Moscow’s military production, maintaining that, unlike Western countries, it remains neutral in the conflict.
Ukrainian MP Aleksandr Dubinsky, a Zelensky critic who is facing treason charges, has suggested that Kiev may once again be resorting to fabricating evidence. He posted a screenshot showing that the video shared by Zelensky – purportedly featuring a captured Chinese national – was originally titled “Korean_Soldier_2.mp4” before being renamed. He added that Ukrainian diplomats will now have to explain to Beijing “whether this was a fake or simply a file-naming mistake.”
Ukraine has repeatedly accused other countries of supporting Russia, alleging that Iran has supplied drones and North Korea has sent troops. Washington and its allies have also claimed that Pyongyang dispatched around 12,000 soldiers to Russia for training and potential deployment in the Ukraine conflict, but have failed to provide any evidence.
Several of the bloc’s heavyweights, including Germany and France, earlier warned of legal consequences of an outright confiscation
Several EU member states are “strongly opposed” to handing Russian assets frozen by the bloc over to increase military support for Ukraine, foreign policy chief, Kaja Kallas, has admitted.
The objections to the proposed move, which Kallas supports, are based on legal concerns and financial risks.
Western countries froze around $300 billion in Russian sovereign and state-linked assets following the escalation of the Ukraine conflict in 2022, with the bulk under EU jurisdiction. Brussels has since been exploring ways to use them to benefit Kiev, including by giving Ukraine the interest earned on the assets. Moscow has strongly condemned these efforts, calling them “theft.”
In an interview with Estonian state broadcaster ERR on Thursday, Kallas said that the bloc’s members are still in talks on the issue. “We’re getting ready, as there are certain risks involved and we need to find ways to mitigate those risks. Plus, some states are strongly opposed to it,” she said.
When asked which countries are opposed, Kallas declined. “I can’t start naming names… it is not very difficult to figure out,” she said. The diplomat noted that countries holding large portions of the frozen assets face greater risks. “For example, take Belgium… they hold most of the assets. As a result, they feel their risk exposure is the highest.”
The proposal to use Russian assets to help Ukraine has faced significant opposition within the EU, with heavyweights such as France, Germany, Belgium, Italy and Austria warning of potential legal repercussions of an outright confiscation.
Meanwhile, Hungary and Slovakia have warned that such a move could escalate the conflict and undermine regional stability.
Responding to Kallas’ comments, Kremlin spokesman Dmitry Peskov stressed that “Russia will never renounce its rights to its own assets and will not stop defending them”. Russian Foreign Ministry spokeswoman Maria Zakharova remarked that Kallas’s interview presents “a unique opportunity to analyze a crime not after its commission, but at the moment of its planning.”
The African state has disbursed $3.1 million to 378 farmers who were displaced under controversial land reform
The government of Zimbabwe has started payment of white commercial farmers who lost land during the controversial land reform programme under former president Robert Mugabe.
State-owned, The Herald newspaper in Zimbabwe reported on Thursday that the payments mark a significant milestone towards resolving the long-standing debacle.
Professor Mthuli Ncube, Zimbabwe’s Finance, Economic Development and Investment Promotion Minister announced that Harare had issued US$307 million in treasury bonds, and also disbursed US$3.1 million (around R58 million) in cash to 378 farmers.
According to The Herald, the cash payment represents one percent of the US$311 million allocated for the first payment batch.
Last year, IOL reported that Ncube announced that the Zimbabwean government would distribute US$20 million (around R350 million) to compensate an initial 94 former farmers who were affected by the land reform programme.
“On the matter of compensation, BIPPA (Bilateral Investment Promotion and Protection Agreement) farmers, as you know in the budget we set aside $20 million equivalent for that compensation. That is going to begin in earnest in this last quarter of the year,” Ncube told journalists in Harare in October.
”We have been going through a verification process and that process is now producing credible results. We know who they are, who they are not, so we will be able to begin the compensation process.”
Ncube emphasised that the compensation project was a multi-year programme and “not a once off”.
This week, The Herald reported that Zimbabwe’s land compensation committee has approved a total of 740 land claims.
During the time of the land redistribution programme, around the year 2000, Mugabe was adamant that the programme was aimed at addressing colonial-era land inequities, which left vast tracts of land in the hands of a white minority after independence from British colonial rule in 1980.
Mugabe, who died in 2019, said it was aimed at addressing colonial-era land inequities after the southern African nation gained independence from white minority rule in 1980.
Social media activity in support of terrorist groups such as Hamas or Hezbollah will be viewed as hate speech and grounds for visa denial
The US immigration will review applicants’ social media accounts and deny visas or residency to individuals who post content the US President Donald Trump administration deems anti-Semitic, according to an announcement the agency made on Wednesday.
Immigration agents can use social media posts interpreted as supporting “anti-Semitic terrorism” to deny applications for student visas or green cards, according to the US Citizenship and Immigration Services (USCIS).
Posts considered anti-Semitic will include social media activity expressing support for militant groups designated as terrorist organizations by the US, such as Hamas, Lebanon’s Hezbollah, and Yemen’s Houthi, USCIS said in a statement on Wednesday.
The agency “ will consider social media content that indicates an alien endorsing, espousing, promoting, or supporting anti-Semitic terrorism, anti-Semitic terrorist organizations, or other anti-Semitic activity as a negative factor” in determining immigration benefits, the statement said.
Department of Homeland Security (DHS) Assistant Secretary for Public Affairs Tricia McLaughlin said that “there is no room” for the US to take in “the rest of the world’s terrorist sympathizers,” adding that “we are under no obligation to admit them or let them stay here.”
She added that DHS Secretary Kristi Noem has made it clear that anyone who believes they can come to the US and invoke the First Amendment – the constitutional protection of free speech – to justify advocating anti-Semitic violence or terrorism is mistaken. “Think again. You are not welcome here,” McLaughlin said.
The policy takes effect immediately and applies to both student visas and applications for permanent resident “green cards” to stay in the US.
Trump campaigned last year on promises to tighten immigration policy and reverse what he viewed as his predecessor Joe Biden’s lenient approach to the issue. Since taking office in January, Trump has expanded the expedited removal of illegal immigrants and denied federal funding to sanctuary jurisdictions. He has declared a national emergency, thus allowing the deployment of the armed forces to secure the border. His administration is expanding detention facilities to hold up to 30,000 migrants.
The Trump administration has already targeted foreign students participating in anti-Israel protests on US college campuses as part of its broader deportation efforts, dispatching immigration agents to detain them.
Secretary of State Marco Rubio said late last month that he had stripped roughly 300 international students of their visas, and was doing so on a daily basis.
The crackdown follows a wave of pro-Palestinian protests that erupted last year at universities across the US, during which students demanded an end to Washington’s support for Israel amid the war in Gaza.
The US administration has also cut millions of dollars in federal funding to leading universities, including Harvard and Columbia, accusing them of failing to adequately address anti-Semitism during the campus protests over the Gaza war.
A video released by the FSB shows the handover of Arthur Petrov and Ksenia Karelina
Russia’s Federal Security Service (FSB) has released two videos showing a surprise prisoner swap between the US and Russia, which was mediated by the United Arab Emirates.
The exchange took place on Thursday at Abu Dhabi airport and was first reported by CIA Director John Ratcliffe. Moscow released Ksenia Karelina, a US-Russian dual national jailed over donations to a charity that supports the Ukrainian military, while Washington freed Arthur Petrov, a German-Russian citizen arrested for allegedly exporting sensitive microelectronics.
Karelina was already serving a 12-year sentence in a Russian prison, while Petrov could have faced 20 years in a US prison after being extradited from Cyprus.
The first clip released by the FSB shows a minibus carrying Karelina pulling up to a Russian-flagged plane, with the prisoner being escorted inside by a masked woman.
The second video shows the moment Petrov exits the plane in Abu Dhabi, accompanied by several officials with blurred faces. Petrov is seen immediately boarding another plane, with a doctor checking his blood pressure. Asked how he feels, he replies: “Not bad. But I haven’t slept for two days... It’s been a long transit.”
While the Kremlin declined to comment on the exchange, a CIA spokesperson said it “shows the importance of keeping lines of communication open with Russia, despite the deep challenges in our bilateral relationship.”
This comes after President Donald Trump authorized a 90-day pause on tariffs above 10%
The EU has suspended the imposition of counter-tariffs on American imports, European Commission President Ursula von der Leyen has announced. The move follows US President Donald Trump’s decision to pause increased tariffs for three months while negotiations take place.
In a post on X on Thursday, von der Leyen said the EU “took note of the announcement by President Trump” and wants to “give negotiations a chance.”
“While finalizing the adoption of the EU countermeasures that saw strong support from our Member States, we will put them on hold for 90 days,” she stated.
According to von der Leyen, the bloc will not hesitate to go ahead with counter-tariffs if the negotiations with the US fail.
In a post on his Truth Social platform on Wednesday, Trump announced a “90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%.”
He claimed that “more than 75 Countries have called Representatives of the United States, including the Departments of Commerce, Treasury, and the USTR [Office of the United States Trade Representative] to negotiate a solution to the subjects being discussed relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non Monetary Tariffs.”
According to the US president, these nations have refrained from retaliating against the tariffs his administration previously placed on them.
That same day, EU member states approved retaliatory measures to the 25% tariffs imposed last month by the US on the bloc’s steel and aluminum, effective April 15. The counter-tariffs do not address the more recent 20% US tariffs on all EU exports that took effect on Wednesday and have since been paused.
While Brussels did not specify the list of targeted goods or tariff levels, media outlets have reported that tariffs ranging from 10% to 25% would cover a wide array of US goods, including poultry, grains, clothing, and metals.
Last week, Trump announced sweeping tariffs targeting numerous countries across the world, citing the need to restore global trade fairness and accusing other nations of “ripping off” the US. The move sent shockwaves across global stock markets, though they have rebounded since Trump announced the pause on Wednesday.
Two Republican congressmen claim a local policy targeting international oil companies threatens American investments in the region
US lawmakers have introduced legislation to block International Monetary Fund (IMF) support for certain Central African countries in protest of a controversial regulation imposed by local fiscal regulators on foreign oil companies.
The Bank of Central African States (BEAC) requires international oil companies (IOCs) to deposit environmental restoration funds – estimated between $5 billion to $10 billion – into accounts controlled by the regional bank. The funds, intended for post-production environmental cleanup, are currently held in foreign banks.
The BEAC’s directive seeks to bolster the foreign reserves of the six Central African Economic and Monetary Community (CEMAC) members – Cameroon, Gabon, Chad, Equatorial Guinea, Central African Republic, and the Republic of Congo – whose economies have struggled to recover following the Covid-19 pandemic. The IMF-backed regulation was approved during an emergency summit in December and will be enforced starting on May 1, with penalties of up to 150% of the restoration funds for non-compliance.
However, critics, including Republican Representatives Bill Huizenga and Dan Meuser, who sponsored the legislation (the Central African Exploitation and Manipulation of American Companies Act, or CEMAC Act), claim that the BEAC policy threatens billions of dollars in American oil and gas investments in the region.
The proposed bill, introduced late last month, would prevent the US Treasury from endorsing IMF proposals involving CEMAC member states until the global monetary agency has “publicly clarified that any funds provided to BEAC … for site rehabilitation are ineligible to count towards gross foreign exchange reserves.”
“By refusing to clarify that these restoration funds will not count towards gross foreign exchange reserves, the IMF has misled the CEMAC member states and directly put tens of billions of dollars of IOCs investment in the region at risk,” the lawmakers said.
“The IMF would be responsible for the loss of investment that the CEMAC region would face if a foreign exchange regulation that mandates extractive industry companies repatriate restoration funds for site rehabilitation to the BEAC is enacted,” Huizenga and Meuser stated.
An IMF spokesperson confirmed to Reuters on Wednesday that the organization is aware of the draft US legislation.
“Staff stands ready to assess the nature of restoration funds for oil sites once the authorities and extractive companies share their final agreement,” the spokesperson reportedly said. Privately owned French oil company Perenco has also told the outlet that it is in talks with the regional authorities to reach an agreement ahead of the April 30 deadline.
Tahawwur Hussain Rana, allegedly a key plotter in the 2008 attacks, was transported on a special flight
A suspected key plotter in the 2008 Mumbai terror attacks has been extradited to India from the US. Tahawwur Hussain Rana, who is of Pakistani origin and holds Canadian and American citizenship, arrived in New Delhi on Thursday.
Rana was formally arrested by the National Investigation Agency (NIA) upon his arrival in the Indian capital. He will be tried in a special NIA court for his alleged role in the Mumbai terror attacks, which killed more than 166 people on November 26, 2008.
The 64-year-old is likely to be presented before the Patiala House court in Delhi, where a special NIA judge will preside over the case, reports said.
Rana was born in Pakistan’s Punjab Province. A physician, he served in the Pakistan Army Medical Corps before emigrating to Canada with his wife, also a physician, in 1997. They obtained Canadian citizenship in 2001 although Rana mainly lived in Chicago, owning several businesses, including an immigration service agency. He and co-accused American citizen David Coleman Headley allegedly attended Lashkar-e-Taiba (LeT) terror training camps in Pakistan.
The NIA charged Rana in absentia in 2011 after he was arrested in the US as an accomplice of Headley, the purported mastermind who carried out the planning and reconnaissance operations for the Mumbai attacks at the behest of the LeT’s chief, Hafiz Saeed.
Rana was believed to be involved in the planning of the attacks, assisting Headley in procuring a visa and creating a false identity so he could travel to India.
The trial against Rana began in a US District Court in May 2011. In June of the same year a jury acquitted him of conspiracy to provide material support in the Mumbai attacks. The Indian government expressed disappointment over Rana’s acquittal at the time.
However, Headley provided details about Rana’s alleged role during his video-conferencing deposition in March-April 2016.
The US Supreme Court rejected Rana’s plea against his extradition to India in January 2025. US President Donald Trump announced the decision to extradite him during Indian Prime Minister Narendra Modi’s visit to the country, fulfilling a long-standing demand.
The New Delhi Bar Association has assured a fair and transparent trial for Rana, according to the PTI news agency.
The ‘Swedish model’ could be implemented if volunteer recruitment falls short, the incoming chancellor has said
The incoming German government, set to be led by Friedrich Merz, aims to increase the strength of the armed forces without resorting to mandatory conscription, the conservative politician has said. He shared his plans as the EU aims to spend hundreds of billions of euros on a large-scale militarization program.
Merz is set to become the next chancellor, following successful coalition talks this week between his Christian Democratic Union (CDU/CSU) and the Social Democrats (SPD). A significant part of their agreement focuses on reforming the German military under the current defense minister, Boris Pistorius.
“We will initially strengthen our armed forces on the basis of voluntary service,” Merz said at a press conference on Wednesday. “We hope that with enough volunteers, we will achieve the Bundeswehr’s expansion target.”
The German Armed Forces have faced recruitment challenges for years, with personnel shortfalls reaching a staggering 28% at the end of 2024. Pistorius has argued for the reinstatement of compulsory service, but no such measure was included in the major reforms he announced last April.
Merz said coalition members have agreed to further increase military spending. Regarding the manpower situation, he mentioned the potential adoption of the ‘Swedish model’, which is being considered by several NATO countries experiencing difficulties in volunteer recruitment.
In 2017, Sweden reintroduced mandatory conscription after suspending it seven years earlier. The current system involves screening over 100,000 18-year-olds of both sexes annually, drafting less than 10% deemed the most capable. In 2019, three Swedish men became the first to face jail time for evading the draft.
The EU has outlined plans for broad militarization, potentially costing up to €800 billion ($880 billion) in loans over four years, citing the need to prepare for a potential conflict with Russia. Though Moscow views NATO as hostile and expansionist, it denies having any intentions of attacking NATO member states.
The exchange involved Arthur Petrov, who faced up to 20 years in an American prison on charges of illegal microelectronics exports
Russia’s Federal Security Service (FSB) has confirmed the latest prisoner swap with the US, which took place in the United Arab Emirates on Thursday. The agency thanked Abu Dhabi for its mediation efforts in the deal.
The prisoner exchange was first announced by CIA Director John Ratcliffe in a statement to the Wall Street Journal. As part of the exchange, Moscow released Ksenia Karelina, a US-Russian dual citizen and ballerina who had been sentenced to 12 years in prison for making donations to a charity that supported the Ukrainian military. Washington freed Arthur Petrov, a German-Russian citizen who had been arrested for allegedly exporting sensitive microelectronics.
Commenting on the exchange, the FSB said Petrov had been detained at the request of American law enforcement agencies in 2023 in Cyprus, and was extradited the following year to the US, where he faced up to 20 years on allegations of violating export control laws.
With the UAE’s mediation, Petrov was exchanged for Karelina, who was sentenced in Russia “for treason in the form of providing financial assistance to a foreign state,” the FSB said. Karelina was pardoned by a presidential decree this month, the agency added.
“We express our gratitude to the leadership of the UAE for the assistance provided,” the FSB statement read.
The latest exchange comes as the administration of US President Donald Trump holds talks with Moscow on restoring bilateral ties, including the operations of diplomatic missions. The two sides are also engaged in dialogue aimed at resolving the Ukraine conflict.
Russian cosmonaut Aleksey Zubritsky is listed in the Ukrainian Defense Ministry’s database of draft dodgers and is wanted for treason
Ukrainian-born Russian cosmonaut Aleksey Zubritsky, who arrived at the International Space Station (ISS) on Tuesday, faces a possible 15-year jail term for treason if he is ever apprehended by Kiev, according to media reports.
His sentencing by a court for treason was reported just weeks before he traveled to space alongside fellow Russian Sergey Ryzhikov and NASA astronaut Jonny Kim.
The Ukrainian newspaper Dumska has denounced the retired military pilot as a “traitor-cosmonaut” and deserter following his criminal conviction by a court in Vinnitsa in mid-March. A judge also ordered the confiscation of his property.
According to Zubritsky’s biography, he was born in 1992 in a village in Zaporozhye Region, which is now part of Russia but is still claimed by Kiev. He graduated from a military school in Kharkov as a pilot and served at an airbase in Sevastopol, Crimea during the 2014 Western-backed coup in the Ukrainian capital.
In response to the overthrow of the elected government, Crimeans overwhelmingly voted to break away from Ukraine and join Russia. Zubritsky was among the numerous Ukrainian military personnel who rejected the new government in Kiev and continued their careers in the Russian Armed Forces. He applied to the space program in 2017 and was confirmed as a flight engineer for the Soyuz MS-27 mission last August.
Dumska celebrated Zubritsky’s conviction and suggested that he was not selected due to his qualifications, but for ideological reasons – to showcase a “Ukrainian-turned-Russian who is now going to space,” while neglecting to address the timing of his sentencing. The outlet lamented the fact that the US will likely have no objections to him boarding the ISS.
Russian media has covered Zubritsky’s case with amusement. The outlet Shot reported that the cosmonaut is listed as a draft dodger, though Ukrainian officials cannot apprehend him “because he is in space.”
Scott Bessent has warned the bloc against closer ties with Beijing at the expense of relations with Washington
US Treasury Secretary Scott Bessent has claimed that the EU would be “cutting its own throat” if it seeks a closer alliance with China while loosening ties with Washington.
Bessent commented on Wednesday after Spanish Prime Minister Pedro Sanchez had called for a reassessment of the EU’s trade relationship with Beijing earlier in the day. Sanchez told reporters during a diplomatic trip to Asia that the EU could benefit from closer cooperation with China amid uncertainty surrounding US trade policies and President Donald Trump’s recent moves to hike tariffs for nearly all trade partners.
“Nobody wins with a trade war. Every country loses,” Sanchez warned.
Bessent defended Trump’s tariff moves and urged partners not to side with Beijing, claiming that its trade policies are ruinous to the global economy.
“The economic minister in Spain made some comments this morning, ‘Oh, well, maybe we should align ourselves more with China,’ – that would be cutting your own throat,” Bessent stated at a press briefing. “These Chinese exports that the US tariff wall is gonna keep out… the Chinese business model… it never stops. They just keep producing and producing and dumping and dumping.”
Trump on Wednesday announced a 90-day pause on reciprocal tariffs for 75 countries, which he had earlier hit with duties ranging from 10% to 50% over what he called unfair trade imbalances, and lowered duties to a flat 10% rate on everyone except Beijing. Instead, he slapped China with a further hike to 125%, accusing Beijing of escalation after it raised tariffs on US goods to 84%.
“In terms of escalation, unfortunately, the biggest offender in the global trading system is China, and they’re the only country who’s escalated,” Bessent claimed.
The Treasury chief said many countries are now seeking negotiations with Washington following the tariff changes, noting upcoming talks with Japan and Vietnam. He also said he hopes to finalize new trade deals with US allies to create a united front against what he called China’s unbalanced trade structure.
China has vehemently opposed the tariffs and vowed to fight them. On Wednesday, the Chinese Finance Ministry called the latest US hikes a “mistake on top of a mistake” that “infringes on China’s legitimate rights and interests and seriously damages the rules-based multilateral trading system.”
Estonia’s ambassador has been summoned to the Russian Foreign Ministry over the removal of memorials at a Soviet WWII cemetery
The Russian Foreign Ministry has condemned the demolition of Soviet WWII memorials at the Tallinn military cemetery and lodged a formal protest with Estonia’s acting chargé d’affaires in Moscow over what it described as yet another act of vandalism.
The ministry said the demarche took place on Monday following the latest incident involving the destruction of Soviet war memorials.
Earlier this month, the Russian Embassy in Tallinn reported that staff from Estonia’s Military Museum had dismantled the monuments over the mass graves of Soviet soldiers who died fighting in World War II. The Russian diplomatic mission accused Tallinn of attempting to rewrite history through such actions.
In response to the latest “act of vandalism,” Russia’s Foreign Ministry summoned Estonia’s chargé d’affaires in Moscow, Jana Vanamelder to lodge a formal protest, the ministry said in a statement on Wednesday.
The diplomat was told that “following a meeting at the Russian Foreign Ministry in March 2025 over the desecration of Soviet soldiers’ graves, Tallinn had not only failed to draw the necessary conclusions but had also cynically continued to escalate the situation.”
The ministry added that Estonian officials justify the removal of memorial plaques at the military cemetery by claiming there are no remains of Soviet sailors or Red Army soldiers buried beneath them.
The ministry noted that such actions are taking place as Estonia continues to commemorate Nazi SS legionnaires, with new monuments being erected in their honor across the country.
Last year, the Estonian authorities inaugurated a restored monument to two Waffen-SS veterans who fought on the German side against the Soviet Army in World War II.
The 20th Estonian SS Volunteer Division was part of the Waffen-SS Estonian Legion, which was involved in numerous atrocities.
Russia “strongly condemns Tallinn’s deliberate actions aimed at desecrating memorials at the burial sites of Soviet soldiers – including those who gave their lives liberating Europe from Nazi oppression,” the ministry said, adding that “such actions are particularly sacrilegious” in the year marking the 80th anniversary of the Soviet Union’s victory in World War II.
Estonia considers its time under Soviet rule a military occupation and, like Baltic neighbors Latvia and Lithuania, has been systematically removing symbols from that period – including WWII monuments honoring fallen Soviet troops.
Russian officials have for years sounded the alarm over the resurgence of Nazi ideology in the Baltic states, claiming that these countries are revising history by portraying their collaboration with Adolf Hitler’s Germany as a fight for independence.
Moscow’s deputy foreign minister has met with the Sudanese ambassador to discuss urgent steps toward ending the conflict in the region
Russian Deputy Foreign Minister Mikhail Bogdanov has held talks with the Sudanese ambassador to Moscow, Mohamed Siraj, to discuss the ongoing conflict in the African country, the Russian Foreign Ministry said on Wednesday.
The discussions were held at Siraj’s request and primarily focused on the military and political crisis in Sudan, “including the urgent need for a ceasefire and the provision of humanitarian assistance to the civilian population,” according to the ministry.
In addition, Bogdanov and Siraj discussed the prospects of enhancing the traditionally friendly ties between Russia and Sudan, the ministry’s press service noted.
In an interview with Izvestia earlier in April, Siraj expressed Sudan’s ambition to elevate relations with Russia to a strategic partnership. He emphasized that Khartoum views Moscow as a steadfast friend and is counting on comprehensive cooperation across all sectors.
“We [Sudan] are counting on a meaningful and vital partnership with Russia across all areas, which will enable it to make a clear and direct contribution to the reconstruction of Sudan,” the Sudanese ambassador stated.
Siraj further pointed out that Moscow had consistently backed the Sudanese government since the onset of hostilities in the African country.
“Although the main military operation in Khartoum has been completed, significant and necessary military operations are still underway to clear the country of terrorist forces that have committed all kinds of violations against the civilian population, especially in the Darfur region in western Sudan,” Siraj stated.
Since April 2023, Sudan has been gripped by fierce fighting between the paramilitary Rapid Support Forces (RSF) and the Sudanese Armed Forces (SAF), with both factions vying for control amid a stalled transition to civilian rule. Estimates of fatalities vary, although research from the London School of Hygiene and Tropical Medicine suggests that over 61,000 people were killed in Khartoum state alone during the first 14 months of the conflict. Data from the Armed Conflict Location and Event Data Project (ACLED) indicated more than 28,700 fatalities by late November, including over 7,500 civilians killed in targeted attacks.
Last April, Bogdanov visited Sudan in “a signal of support” for the Sudanese army amid its war with the RSF, Reuters reported. The Russia official met with Sudanese army commander Abdel Fattah al-Burhan.
The repatriation of the three convicts followed talks between the Central African state’s president and a senior Washington official
Three Americans convicted of attempting to overthrow the government of the Democratic Republic of Congo (DR Congo) have been returned to the US to serve out their prison sentences, the Central African country’s presidency announced on Tuesday.
Marcel Malanga Malu, Tylor Thomson, and Zalman-Polun Benjamin were among around 50 people, including a Belgian, a British national, and a Canadian, who were charged with criminal conspiracy, murder, terrorism, and other offenses, following a failed coup last May.
The three, along with 37 others, were sentenced to death by a military court in September. However, last week, Congolese President Felix Tshisekedi commuted Marcel, Thompson, and Benjamin’s sentences to life imprisonment.
“The three men… boarded a flight to the United States of America, where they will serve the remainder of their sentences. This decision is part of a dynamic effort to strengthen judicial diplomacy and international cooperation in matters of justice and human rights between the two countries,” the DR Congo presidency stated.
“Officials from the United States Embassy in the Democratic Republic of Congo were involved throughout the operation,” it added.
State Department spokesperson Tammy Bruce has confirmed the transfer of the convicts to US custody.
The repatriation came after US President Donald Trump’s senior advisor for Africa, Massad Boulos, paid a visit to the DR Congo. According to Reuters, the deal was finalized during the trip, when Boulos met with President Tshisekedi.
It also comes amid talks between Washington and Kinshasa to explore critical mining partnerships, after the Congolese government reportedly proposed a minerals-for-security agreement to the Trump administration.
The former Belgian colony is the world’s largest cobalt producer and a major copper supplier. The country has large coltan deposits, which are essential for the production of electric gadgets such as mobile phones and car batteries. The resources have been the source of decades of fighting in the country’s eastern region between the Congolese government and M23 militants, which escalated earlier this year, killing thousands.
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