World
Biden hits Russia with new sanctions for ‘premeditated’ Ukraine attack
President Joe Biden hit Russia with a wave of sanctions on Thursday after Moscow invaded Ukraine, measures that impede Russia’s ability to do business in major currencies along with sanctions against banks and state-owned enterprises, Reuters reported.
Biden described Russian President Vladimir Putin as an aggressor with a “sinister vision of the world” and a misguided dream of recreating the Soviet Union.
But he held back from imposing sanctions on Putin himself and from disconnecting Russia from the SWIFT international banking system, amid differences with Western allies over how far to go at this juncture and criticism from Republicans that he should have done more.
According to Reuters Ukrainian forces battled Russian invaders on three sides on Thursday, prompting tens of thousands of people to flee their homes.
“This is a premeditated attack,” Biden told reporters at the White House. “Putin is the aggressor. Putin chose this war. And now he and his country will bear the consequences.”
Biden said the sanctions were designed to have a long-term impact on Russia and to minimize the impact on the United States and its allies. And he said Washington was prepared to do more.
The sanctions are aimed at limiting Russia’s ability to do business in dollars, euros, pounds and yen. Among the targets were five major banks, including state-backed Sberbank and VTB, as well as members of the Russian elite and their families. Sberbank, Russia’s largest lender, will no longer be able to transfer money with the assistance of U.S. banks.
The White House also announced export restrictions aimed at curbing Russia’s access to everything from commercial electronics and computers to semiconductors and aircraft parts, read the report.
‘DANGEROUS MOMENT’
Biden said NATO would meet on Friday to map out further measures and reiterated that the United States would not engage in war with Russia. But he said the United States would meet its Article 5 commitments, in which NATO members agree an armed attack against one of them in Europe or North America will be considered an attack against them all. Since Ukraine is not a NATO member, those protections do not apply.
Biden said this was “a dangerous moment for all of Europe,” and that he had authorized troops that had been placed on standby to deploy to Germany. He declined to comment on whether he would urge China to join the West’s drive to isolate Russia.
U.S. Senate Republican leader Mitch McConnell said the world was watching how Washington responds, Reuters reported.
He said Congress would support “truly devastating sanctions” against the Kremlin, but he said Biden should have imposed tough sanctions early enough to deter an invasion and weaken Russia.
“Sadly, deterrence after the fact is not deterrence at all,” McConnell said in a statement.
Biden met with his counterparts from the Group of Seven allies and his National Security Council on Thursday, after speaking with Ukrainian President Volodymyr Zelenskiy late on Wednesday.
His announcement represented the second major tranche of sanctions against Russia since Putin earlier this week declared two breakaway regions of Ukraine independent and sent troops there.
The United States had warned it would initiate waves of sanctions against Moscow if it further invaded Ukraine, and Russia’s full-on military assault launched on Thursday led to the latest round of Western penalties, read the report.
White House press secretary Jen Psaki later told reporters the Biden administration believes Putin has “grander ambitions than Ukraine” without offering further details.
On Wednesday Washington imposed sanctions on the company in charge of building Russia’s Nord Stream 2 gas pipeline, and on Tuesday it sanctioned two large Russian financial institutions and Russian sovereign debt along with some members of the Russian elite and their family members.
The moves are aimed at pushing up inflation and interest rates in Russia, lowering purchasing power, investment, growth and living standards, White House economic adviser Daleep Singh told reporters on Thursday.
Biden has become the face of the Western response to Russian aggression at a time when he is battling low poll numbers at home, rising inflation that could be exacerbated by the Ukraine conflict, and looming midterm elections that could hand control of the Senate and House of Representatives from his fellow Democrats to Republicans, Reuters reported.
Officials said he briefed leaders in the U.S. Congress about the Ukraine crisis during a secure call on Thursday.
The White House has warned Americans that the conflict could lead to higher fuel prices in the United States, though it is taking measures to help soften that blow. U.S. officials have been working with counterparts in other countries on a combined release of additional oil from global strategic crude reserves, two sources said on Thursday.
Biden warned oil and gas companies not to “exploit” this moment to raise prices.
World
Venezuela earthquake death toll rises to 188 as rescue efforts continue
According to officials, 138 aftershocks have been recorded since the twin 7.2- and 7.5-magnitude earthquakes struck late Wednesday, causing widespread destruction.
The death toll from the powerful earthquakes that struck Venezuela’s northern Caribbean coast has risen to 188, authorities confirmed on Thursday, as emergency crews continue search and rescue operations.
Jorge Rodriguez, President of Venezuela’s National Assembly, said 1,520 people have been hospitalized with injuries, while 157 people remain missing. Rescue teams are still searching for more than 200 people believed to be trapped beneath collapsed buildings.
According to officials, 138 aftershocks have been recorded since the twin 7.2- and 7.5-magnitude earthquakes struck late Wednesday, causing widespread destruction.
Rodriguez said 346 infrastructure sites sustained damage, including 250 buildings, 20 shopping centers, and eight hospitals, forcing authorities to transfer patients to other medical facilities.
The Venezuelan government has announced the establishment of a $200 million emergency reconstruction fund to support the rebuilding of damaged homes, hospitals, and other critical infrastructure.
Following the disaster, Acting President Delcy Rodriguez declared a national state of emergency, while tsunami warnings were issued across parts of the Caribbean region after the powerful earthquakes.
World
Rescue work underway after quakes rock Venezuela, ‘high casualties’ likely
Strong earthquakes struck west of Venezuela’s capital on Wednesday afternoon, toppling buildings in Caracas, trapping people in the rubble and prompting scientists to warn of potentially heavy casualties and widespread destruction across the South American country.
A magnitude 7.2 earthquake hit about 160 km (100 miles) west of Caracas, followed less than a minute later by a magnitude 7.5 tremor, according to the U.S. Geological Survey (USGS), Reuters reported.
“High casualties and extensive damage are probable and the disaster is likely widespread,” the USGS said, initially estimating the death toll would most likely range from 10,000 to 100,000.
Interim President Delcy Rodriguez said she would declare a state of emergency and request funds from multilateral organizations to back the recovery effort.
“We extend our condolences to those who have unfortunately suffered the loss of a family member,” she said in a national address, without giving a national count for deaths or injuries.
Local officials and witnesses reported collapsed buildings, rescues and a growing number of injured.
“We have buildings, homes and houses which have collapsed and we are taking care of things with everything we have available in terms of security, civil assistance,” Interior Minister Diosdado Cabello said earlier on state television.
Video footage showed emergency workers climbing through the ruins of a collapsed building in the capital as night fell, while distraught relatives sought help for loved ones believed to be trapped.
Gustavo Duque, the mayor of the Chacao municipality in Caracas, said several buildings collapsed, and 18 survivors were extracted from one building alone. He urged onlookers to seek shelter and aid at public plazas because there could be aftershocks.
“We’re going to do everything we can to rescue the most people possible,” he said.
Twenty-two people were injured in the coastal state of Falcon, Governor Victor Clark said on state television. Fifteen missing people, all adults, were still being searched for.
RESIDENTS RUSH INTO THE STREETS
Many Venezuelans were at home when the quakes struck during a public holiday marking an 1821 military victory that helped secure the country’s independence from Spain.
“As soon as it started, we began hearing people screaming,” said Astrid Ramirez, a 41-year-old publicist in western Caracas. “Everyone was running down the stairs.”
Residents across Caracas, which was also hit by a deadly magnitude 6.3 earthquake in 1967, rushed to evacuate as buildings shook.
“There was a very loud crash. Things fell in the house, jugs inside the refrigerator. I’ve never experienced anything like it,” said Coro Martinez, 56, who lives in eastern Caracas.
Item 1 of 10 Emergency services work at the site of a collapsed building after an earthquake, in Caracas, Venezuela, June 24. REUTERS/Gaby Oraa
Maria Romero, an 80-year-old pensioner in southern Caracas, said police helped her get out of her home. “This earthquake was horrible, even worse than the one in 1967,” she said.
Another resident, a 41-year-old office worker who declined to be named, said she received an earthquake alert on her phone just before the shaking intensified.
“As I picked it up and started listening to what it was saying, I first felt light shaking. Then, in less than two seconds, everything started moving.”
Rodriguez has been running the country since the U.S. ouster of President Nicolas Maduro in January. She has hailed a new era of cooperation with the U.S. and other countries, especially on oil, mining and other industries.
The U.S. embassy in Caracas said it was closely monitoring the aftermath of the quake and urged citizens in the country to seek secure shelter and avoid damaged areas.
HOSPITALS BRACE FOR THE INJURED
Fire trucks were seen on the streets of Caracas, where some buildings suffered significant facade damage.
At Caracas’ Hospital de Clinicas, staff were asked to double up on the night shift to help treat the injured, a worker there said.
Venezuela’s largest airport, in Maiquetia on the coast north of Caracas, was closed due to damages, Rodriguez said.
Classes were cancelled for the rest of the week as authorities began to take stock of the damage.
Venezuela’s oil infrastructure did not immediately appear to be affected by the tremors, as almost none of the cities with official reports of severe damage include critical oil infrastructure. Civil protection authorities in Maracaibo, near the large oil hub of Lake Maracaibo, said there were no injuries reported.
Many energy companies with operations in the country were accounting for staff before making initial assessments on the condition of oilfields, plants and refineries.
One source noted that extended loss of power could hit crude output levels until the service is restored. Venezuela’s oil ministry, state-run oil company PDVSA (PDVSA.UL) and its main foreign partner, Chevron did not immediately reply to requests for comment.
TSUNAMI ALERT WITHDRAWN
The U.S. Tsunami Warning System issued a tsunami threat for Puerto Rico and the U.S. and British Virgin Islands after the earthquake, and said hazardous waves could also affect Aruba, Curacao and Bonaire. The warning was withdrawn about an hour later.
Venezuela lies in a seismically active zone where the Caribbean Plate meets the South American Plate.
An estimated 30,000 people were killed when a powerful quake caused widespread destruction in the cities of Merida and Caracas in 1812, according to the USGS.
World
North Korea’s Kim says country will exercise its position as nuclear state, KCNA reports
North Korean leader Kim Jong Un said exercising the country’s position as a nuclear state is the only way to cope with an unpredictable and complicated global security situation, KCNA state news agency reported on Tuesday.
“Unimaginable, astonishing incidents and events” are occurring because of the “gangster-like” greed of hegemonic forces, making confrontations around the world more violent, Kim said, blaming the U.S. for worsening bloodshed in Europe and the Middle East, Reuters reported.
He was speaking at a Central Committee meeting of the ruling Workers’ Party, running from Saturday to Monday, KCNA said.
Kim accused the U.S. and South Korea of making the security situation on the Korean Peninsula more dangerous by steadily upgrading their combined nuclear posture, the only purpose of which, he said, is to attack North Korea.
“To steadily expand and strengthen the nuclear forces … and to thoroughly exercise the position of a nuclear weapons state is the most correct and unique way to actively and confidently cope with the unpredictable international military and political situation getting complicated in multiple ways,” KCNA said.
KCNA did not elaborate on specific actions regarding the country’s nuclear arsenal that might be taken.
Kim also ordered the buildup of conventional weapons and accelerated construction of a 10,000-ton strategic guided missile cruiser, KCNA said.
Yang Moo-jin, a professor at the University of North Korean Studies in Seoul, said the comments underscore Pyongyang’s continued rejection of denuclearisation and push for recognition as a nuclear state.
“North Korea is once again reaffirming that denuclearisation talks are off the table,” Yang said, adding it would only engage in negotiations “as a nuclear weapons state on an equal footing,” potentially focusing on arms reduction rather than dismantlement.
Such talks would imply acceptance of a minimum deterrent and require sanctions relief, he said, fundamentally differing from phased denuclearisation proposals, such as those raised by South Korean President Lee Jae Myung to U.S. President Donald Trump at the G7.
Yang said that references in the party meeting to the U.S.-South Korea Nuclear Consultative Group, a body aimed at deterring North Korea’s nuclear threat, and Seoul’s ambitions to develop a nuclear-powered submarine were being used by Pyongyang to justify its nuclear buildup.
North Korea has defied a slew of sanctions imposed by both the United Nations and the U.S. between 2006 and 2017 banning Pyongyang from developing nuclear weapons and ballistic missiles to deliver them. Its stance has alarmed regional powers.
It has declared itself a nuclear state and has said nothing would convince it to abandon its atomic weapons, despite years of diplomatic efforts by the U.S., China and South Korea.
The party meeting also highlighted a push to modernise the coal industry and redevelop mining communities, which Kim described as a strategic priority.
“Coal effectively remains North Korea’s main energy resource,” Yang said, noting plans to upgrade the industry aimed at easing chronic energy shortages.
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