U.S. Treasury to broaden scope of secondary sanctions on Iran
Only four commodity vessels crossed the Strait of Hormuz on Sunday, following 13 transits a day earlier, as disruptions continue to restrict traffi...
Trade between Colombia and Ecuador has fallen sharply after new tariffs were imposed, with business groups warning of mounting damage to the cross-border economy.
Ecuador’s President Daniel Noboa imposed a 100% tariff on Colombian imports from 1 May, although the government has not specified which products are affected. Colombia responded by imposing tariffs ranging from 35% to 75% on about 190 Ecuadorian goods.
Transport and business representatives on both sides of the border say the measures have significantly reduced commercial activity. Carlos Bastidas, head of the Carchi Heavy Transport Association, said the dispute had escalated gradually and was driven by what he described as “ego and stubbornness” from both governments.
He said the once-busy border region had suffered social harm as imports and exports declined, warning the situation was leading to job losses and encouraging smuggling as people look for ways to support their families.
Truck traffic at the Rumichaca border crossing has dropped from around 150 vehicles a day to just a handful, according to Ecuadorian transport groups. Iván Flórez, president of the Ipiales Chamber of Commerce, said exports had been “practically shut down”, with only a few trucks passing through, mostly in transit to or from Peru.
He described the situation as suffocating for border communities, which depend heavily on cross-border trade, adding that appeals had been made to both governments and the Andean Community of Nations to intervene.
President Noboa has defended the tariffs, saying they were introduced in response to a trade deficit with Colombia and what he described as inadequate action against drug trafficking along the border. Colombia has rejected those claims.
Ecuador says the measures have improved its trade balance with Colombia for the first time, while Colombian officials say exports have almost ground to a halt. Colombia has also suspended electricity sales to Ecuador, which relies on its neighbour for imports, including medicines and pesticides.
Iran on Saturday denounced U.S. plans to announce new sanctions that could put further strain on the Islamic Republic's economy and have an impact on its most important trading partners including China.
Ukraine’s President Volodymyr Zelenskyy said on Monday that Kyiv wants peace but will not surrender to Russia, as foreign leaders joined Independence Day events marking 35 years since Ukraine’s independence.
A newly created pro-government political party has secured a commanding victory in Kazakhstan's snap parliamentary election, according to exit polls, strengthening President Kassym-Jomart Tokayev's influence at a pivotal moment in the country's political transition.
Only four commodity vessels crossed the Strait of Hormuz on Sunday, following 13 transits a day earlier, as disruptions continue to restrict traffic through the key energy chokepoint.
Ukrainian President Volodymyr Zelenskyy has rejected calls for a wartime election, arguing that holding a vote while Russia's full-scale invasion continues would divide the country and undermine national unity.
Ukraine’s President Volodymyr Zelenskyy said on Monday that Kyiv wants peace but will not surrender to Russia, as foreign leaders joined Independence Day events marking 35 years since Ukraine’s independence.
Online fast-fashion retailer Shein is seeking to raise up to $1.77 billion in a Hong Kong IPO after its valuation fell around 70 per cent from its private-market peak four years ago.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 24th of August, covering the latest developments.
New Zealand Prime Minister Christopher Luxon said on Monday that his party will introduce a bill to ban children under 16 from using social media. The proposal would allow fines of up to 10 per cent of a platform’s global revenue for non-compliance.
Icelanders will vote on Saturday, 29 August, on whether to resume negotiations with the European Union, in a referendum that could reopen the country’s long-debated membership question.
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