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BREAKING: ECOWAS to Lift Economic Sanctions On Niger, Mali, Guinea

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The Economic Community of West African States (ECOWAS) has resolved to lift some sanctions on Niger Republic, Mali and Guinea.

The resolution was taken at the extraordinary summit on the peace, political and security situation in the ECOWAS sub-region in Abuja on Saturday.

While the regional bloc said the political and targeted sanctions on Niger Republic remain, it lifted some financial and economic sanctions on Guinea and some targeted sanctions on Mali.

Meanwhile, President Bola Tinubu called for the suspension of economic sanctions imposed on Niger, Mali, Burkina Faso, and Guinea by ECOWAS.

President Tinubu, who is the Chairman of the Authority of Heads of State and Government of the organization made the call at the Extra-ordinary Summit of ECOWAS in Abuja on Saturday,  saying that: “Everything we did was in hopes of persuading our brothers that there existed a better path, a path that would lead to genuine improvement of their people’s welfare through democratic good governance. And this was a path each of our nations had solemnly agreed with one another pursuant to formal regional treaty and protocol.

“However, the sanctions that we contemplated might help lead our brothers to the negotiating table have become a harsh stumbling block. In my mind and heart, that which is hurtful yet ineffective serves no good purpose and should be abandoned.

“ECOWAS was established for the unassailable objective of improving the lives of the people of this region through fraternal cooperation among all member states. This edifice was cemented on the strong foundation and apt conviction that, united as one, we can be the true masters of our destiny.”

The President further explained that ECOWAS took the steps it did based on the regional ideals of security, social stability; democratic governance, political freedom, broad-based prosperity, and sustainable economic development through fair opportunity for each and every one in West Africa.

He said neither hatred nor hidden motive influenced the steps taken and that there was never any intention to douse or undermine the legitimate political aspirations of any member state or to advance the interests of any outside party.

In calling for the suspension of sanctions, President Tinubu stressed that: “We must take note of the approach of the holy month of Ramadan and of Lent. Whether you pray in the mosque or in the church, this represents a time for compassion, hope, and harmony. It is a time that we must not only seek God but also a closer relationship with brother and neighbour.

“In the Spirit of the holy month and of the Lenten period, and with hearts bestirred by goodwill towards all our people, let us extend a hand as brothers and friends to those in Niger, Mali, Burkina Faso, and Guinea.

“What I suggest in real and practical terms is that we, my colleagues and fellow heads of state in ECOWAS, indefinitely suspend economic sanctions against Niger, Mali, Guinea and Burkina Faso and against the leadership of the military authorities in those nations.”

The President asked that ECOWAS facilitate the unfettered flow of foodstuffs, medicines and other humanitarian items to the people of these nations, especially to the most vulnerable, adding that for Nigeria, this will also mean the prompt resumption of export of electric power to Niger.

“In this vein, suspension of sanctions is an important but initial step. What we seek is more than the breaking of the diplomatic logjam. We must use this very moment when things seem tense and progress unavailing, to forge greater cooperation within our community.

“We not only reach out to our brothers. Today, we say unto them — let us begin to work more earnestly together for the economic development of our people and towards confronting those modern challenges that respect no borders or boundaries. Challenges ranging from climate change to violent extremism to illegal pilfering of our precious natural resources require that we join together in progress or we fail separately.

“As leaders of ECOWAS, we have accepted the honour and duty to draft the history of the region and its people during our tenure in office. We have also accepted the honour and duty to reach out to our brothers, letting them know this regional home belongs to us all. I shall do my utmost in this regard. I humbly beseech that you do the same.

“For these reasons, we must suspend sanctions and return to brotherly dialogue. I call on the leadership in Burkina Faso, Guinea, Mali, and Niger to embrace the hand extended,” the President stated.

International

U.K.–India set to boost bilateral trade by over $34 billion a year

The FTA, which slashes duties on goods including textiles, alcohol and automobiles, was signed Thursday in the presence of Indian Prime Minister Narendra Modi and his UK counterpart, Keir Starmer.

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•Indian Prime Minister Narendra Modi and his UK counterpart, Keir Starmer.

U.K. and India’s bilateral trade is set to get a more than $34 billion annual boost over the long term following their free trade agreement, with the countries’ leaders calling it a “historic” deal.

CNBC reported that the FTA, which slashes duties on goods including textiles, alcohol and automobiles, was signed on Thursday in the presence of Indian Prime Minister Narendra Modi and his UK counterpart, Keir Starmer.

Both sides had finalized the trade pact in May after three years of intense negotiations — marked by thorny issues such as visas, tariff reduction and tax breaks.

Talks gained momentum and both governments accelerated to seal the deal as U.S. President Donald Trump’s tariff threats sent the world in disarray.

The agreement between the world’s fifth and sixth largest economies is expected to boost their bilateral trade by 25.5 billion pounds per year by 2040.

Trade in goods and services stood at over 40 billion pounds in 2024.

The deal offers “huge benefits to both of our countries,” boosting wages, raising living standards and bringing down prices for consumers, Starmer said.

India’s Modi lauded the agreement as “a blueprint for our shared prosperity,” highlighting how Indian goods including textiles, jewelry, agricultural products and engineering items would benefit from a better access to the U.K. market.

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Russian missing plane found in Forest – No Survivors

Amur’s regional governor Vasily Orlov said five children were among those on board and declared three days of mourning.

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Russian officials say 48 people were killed when an Angara Airlines plane went down in a dense forest in the far-eastern Amur region.

The Antonov An-24 plane, carrying 42 passengers and six crew, had left Blagoveshchensk close to the Chinese border and vanished from radar screens as it approached Tynda airport, officials said.

A Russian civil aviation helicopter then spotted burning fuselage from the plane on a remote hillside about 16km (10 miles) from Tynda.

Amur’s regional governor Vasily Orlov said five children were among those on board and declared three days of mourning.

Orlov said that according to preliminary data, there were 43 passengers, including five children, and six crew members on board the plane operated by a Siberian airline.

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International

EU ready to hit US with 21-billion-euro tariff list

He said the goal should be “zero tariffs” and an open market among Canada, the United States, Mexico and Europe.

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MILAN (Reuters) -The European Union has already prepared a list of tariffs worth 21 billion euros ($24.52 billion) on U.S. goods if the two sides fail to reach a trade deal, Italy’s Foreign Minister Antonio Tajani said in a newspaper interview on Monday.

President Donald Trump on Saturday threatened to impose a 30% tariff on imports from Mexico and the EU starting on Aug. 1, after weeks of negotiations with major U.S. trading partners failed to reach a comprehensive deal.

Tajani also told daily Il Messaggero that to help the euro zone economy the European Central Bank should consider a new “quantitative easing” bond-buying-programme, and more interest rate cuts.

The European Union said on Sunday it would extend its suspension of countermeasures to U.S. tariffs until early August and continue to press for a negotiated settlement.

Tajani said the 21-billion-euro package of tariffs the EU has already prepared could be followed by a second set if a deal with the U.S proves impossible.

He added, however, that he was confident that progress could be made in negotiations.

“Tariffs hurt every one, starting with the United States,” he said. “If stock markets fall that puts at risk the pensions and the savings of the Americans.”

He said the goal should be “zero tariffs” and an open market among Canada, the United States, Mexico and Europe.

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