Germany Takes Control of Russian-Owned Refineries Amid Energy Crisis
The German government seized control of three refineries (FT) owned by Russian oil company Rosneft before a European Union embargo on Russian crude oil takes effect in December. Operations at the refineries were disrupted (WSJ) after some banks and firms stopped doing business with Rosneft amid Western sanctions. Rosneft accounts for about 12 percent of Germany’s oil refining capacity.
Germany has worked to ensure its energy security and control soaring energy prices ahead of the embargo, passing a law to bring back coal-fired power plants, among other actions. It is also considering taking over three of its largest gas companies, Bloomberg reported.
Analysis
“The Schwedt refinery [one of the three seized] was the biggest obstacle to Germany accepting the ban on Russian oil imports because thousands of jobs in the region depend on it,” the Wall Street Journal’s Georgi Kantchev and Bojan Pancevski write.
“The first German companies have begun throwing in the towel and consumption is collapsing in response to the fallout from exploding energy prices. The economy is sliding almost uncontrolled into a crisis that could permanently weaken the country,” Der Spiegel writes.
Top Chinese Official Calls for Tech Cooperation With South Korea During Visit
Li Zhanshu was the highest-level Chinese official to visit South Korea (AP) since 2015. Seoul has sought to assure Beijing that its ties with Washington will not hurt economic relations with China, which is South Korea’s top trading partner.
China: Local governments are using central government funds to buy land following a decline in purchases by private developers, the Financial Times reported. The financing is part of Beijing’s efforts to assist cash-strapped local authorities.
South and Central Asia
Kyrgyzstan Agrees to Cease-Fire With Tajikistan
In recent days, border tensions between the countries had escalated (Reuters), with both sides accusing the other of initiating artillery fire.
Kazakhstan: Chinese President Xi Jinping rejected an offer (AP) to meet with Pope Francis in Kazakhstan, with an official saying Xi didn’t have time.
Middle East and North Africa
Turkish, Syrian Intelligence Chiefs Meet at Russia’s Urging
The Turkish and Syrian intelligence chiefs have held several meetings in Damascus over the past few weeks as Russia has encouraged a normalization of relations between the countries, Reuters reported. Turkey backs Syrian rebels fighting the government.
Lebanon: In two separate incidents, Lebanese people held up banks (BBC) to withdraw their own cash as government-imposed banking restrictions remain in effect.
Sub-Saharan Africa
Survey: 53 Percent of South African College Graduates Consider Emigration
The survey by the Johannesburg-based Social Research Foundation also found that 43 percent of people who earn more than $1,138 per month are interested in leaving (Bloomberg) South Africa.
Kenya: Fuel prices surged to record highs (AFP) after newly inaugurated President William Ruto cut subsidies. Ruto said his predecessor’s policies distorted Kenya’s economy.
Europe
UN Monitors to Visit Site Where Ukraine Reported Mass Grave
Ukraine’s defense ministry said it discovered a mass grave (Al Jazeera) containing more than four hundred bodies in Izyum, a city it recently recaptured from Russian forces. The UN human rights office said it plans to send monitors to the city.
El Salvador President Says He Will Seek Reelection Despite Ban
El Salvador’s constitution does not allow for consecutive reelection, but President Nayib Bukele said he will seek it (El Faro) when his current term ends in 2024.
Mexico: Mexican authorities arrested a retired general (CNN) for his alleged role in the disappearances of forty-three college students in 2014.
U.S. President Joe Biden said (Politico) Texas and Florida governors’ decision this week to transport migrants to northern states by bus and plane was “simply wrong.” Some of the asylum seekers who were flown to Martha’s Vineyard said they were told (NPR) they were going to Boston where they could seek work.
