The Nation Newspaper

Tag: U.S

  • U.S and EU agree to avoid trade clash

    The United States has agreed to work towards lowering trade barriers with the European Union, Donald Trump said on Wednesday after a meeting with European Commission chief, Jean-Claude Juncker.

    The two agreed to launch a “new phase” in relations and work towards zero tariffs, the U.S president said.

    The BBC reports they also agreed to increase trade in services and agriculture, including greater U.S soy bean exports to the EU.

    The agreements come amid heightened tensions between the U.S and EU.

    The two leaders defused what had threatened to become a trade war between the two blocs, fuelled by tariffs set by Mr. Trump on European steel and aluminium exports, and threats to expand the tariffs to cars.

    The relationship between the U.S and Europe had been further frayed by Mr. Trump’s apparent fondness for the Russian President Vladimir Putin and attacks on NATO and the EU.

  • U.S., Iran face-off to send oil price sky high

    A military conflict between the United States (U.S.) and Iran would threaten to shut the world’s busiest seaway for oil exports and send crude prices to all-time highs, perhaps even to $200 a barrel, analysts said yesterday.

    Founding partner at energy hedge fund Again Capital, John Kilduff, said Brent crude — the international benchmark for oil prices — is on a path to $90 a barrel because the Trump administration is unlikely to issue many sanctions waivers.

    Top Cabinet officials have recently said countries could get sanctions relief on a case-by-case basis if they cannot entirely cut off purchases from Iran by November.

    However, if Iran opts for the “nuclear option” of shutting down the Strait of Hormuz, Brent could pop to several hundred dollars a barrel, in Kilduff’s view.

    “The numbers on a blockage or any kind of upset or military situation in the Strait of Hormuz, that is off to the races. Pick your number — $150, $200 — it goes sky high.” he said.

    Because we are talking about an abject shortage of oil then in the global market,” he said.

    Brent crude is currently trading just above $73 a barrel. It hit a record high above $147 a barrel in 2008.

    President Donald Trump on Sunday night warned Iranian President Hassan Rouhani on Twitter that his country would “SUFFER CONSEQUENCES THE LIKES OF WHICH FEW THROUGHOUT HISTORY HAVE EVER SUFFERED BEFORE” if Rouhani ever threatened the U.S. again.

  • U.S. probes mining firm over Nigeria, DR Congo corruption

    Mining giants, Glencore, has received a subpoena by the United States Department of Justice (DoJ) for its documents and records in an ongoing investigation into corruption and bribery in Nigeria, Venezuela and the Democratic Republic of Congo. Two of its U.S. shareholders have accused the company of making false disclosures about its accounts.

    Reuters reports that Nigeria’s involvement in the subpoena might be related to Petrobas’ (Brazil’s state oil company) decision to sell some of its assets in Africa worth $2 billion earlier this year. Glencore, and another oil company Vitol, backed Nigerian oil firm Seplat to purchase some of Petrobas’ assets.

    The sale is part of Petrobas plans to “sell its 50 per cent stake in an African oil exploration venture as part of a wider divestment plan and offload a $21 billion assets through mid-2018 and cut debt.” Reports say the asset, which is an oil exploration venture off the coast of Nigeria, would be won by a Nigerian firm due to government pressure and the insistence of President Muhammadu Buhari, through his Executive Order 5, for more of Nigeria’s resources to be owned by Nigerian companies. If this deal happens to be part of the U.S. investigation, then it is possible members of the president’s cabinet would be implicated.

     

     

  • U.S. withdraws from UN Human Rights Commission

    The U.S. on Tuesday withdrew from the United Nations Human Rights Council on Tuesday accusing it of a “chronic bias against Israel.”

    U.S. envoy to the UN Nikki Haley, who announced her country’s decision in Washington, slammed Russia, China, Cuba and Egypt for thwarting U.S. efforts to reform the council.

    She also criticized countries which shared U.S. values and encouraged Washington to remain but “were unwilling to seriously challenge the status quo.”

    The U.S. is half-way through a three-year term on the main U.N. rights body and the Trump administration had long threatened to quit if the 47-member Geneva-based body was not overhauled.

    “Look at the council membership, and you see an appalling disrespect for the most basic rights,” said Haley, citing Venezuela, China, Cuba and Democratic Republic of Congo.

    Haley also said the “disproportionate focus and unending hostility toward Israel is clear proof that the council was motivated by political bias, not by human rights.”

    Washington’s withdrawal is the latest U.S. rejection of multilateral engagement after it pulled out of the Paris climate agreement and the 2015 Iran nuclear deal. (Reuters/NAN)

  • U.S. religious envoy arrives today

    UNITED States (U.S.) Ambassador-at-Large for International Religious Freedom Sam Brownback will arrive in Nigeria today to meet with stakeholders on how to enhance religious freedom in the country.

    Brownback, during the one-week visit, would meet with government officials, religious leaders and civil society groups, according to the Office of the Spokesperson for the U.S. Department of State.

    “Ambassador at Large for International Religious Freedom Sam Brownback will travel to Abuja, Kaduna, and Lagos, Nigeria from June 18 to 22.

    “Alongside Ambassador W. Stuart Symington, Ambassador Brownback will meet with government officials, religious leaders and civil society groups.

    “The ambassadors will also tour the National Mosque and visit a refugee camp,” the Department said.

    Brownback, while presenting the 2017 Annual Report on International Religious Freedom in May, said religious freedom in Nigeria needed to be protected.

    “My plan is to travel to Nigeria next month to talk with leaders – government leaders, religious leaders, Christian and Muslim leaders – to talk about what we can do to move forward, to reduce the level of violence, to open the way for religious freedom taking place in that country.

    Brownback said much progress needed to take place for the government to secure the right of religious freedom.

  • North Korea sanctions remain until complete denuclearization – U.S

    The United States Secretary of State, Mike Pompeo, said on Thursday North Korea would not see any economic sanctions lifted until it has demonstrated “complete denuclearization.”

    Mr. Pompeo was speaking at a press conference in Seoul with his South Korean and Japanese counterparts, the BBC reports.

    It comes days after U.S President Donald Trump and North Korea leader, Kim Jong-un held a historic summit in Singapore.

    The leaders signed a statement pledging to establish a new relationship.

    Mr. Kim also reaffirmed its previous promises to work towards the “complete denuclearisation of the Korean peninsula.”

    But there has been deep skepticism about the agreement, with observers saying it lacked detail on how North Korea would give up its nuclear weapons and how that process would be verified.

    Mr. Pompeo travelled from Singapore to South Korea to brief the U.S’s regional allies on the summit, and on Mr. Trump’s surprise announcement that he was ending routine U.S-South Korea military drills.

    He said the summit had marked a “turning point” in the relationship between the U.S and North Korea.

    Mr Pompeo dismissed a report by North Korean state media that indicated the U.S would grant concessions to Pyongyang for gradual progress.

    He said the U.S remained “committed to achieving the complete, verifiable and irreversible denuclearisation of North Korea.”

     

  • U.S., North Korea sign historic pact

    •Nigeria hails historic summit

    United States President Donald Trump and North Korea Leader Kim Jong Un yesterday signed an agreement after talks in Singapore which marked the first time a sitting U.S. president had met a North Korean leader.

    The two leaders, who in 2017 exchanged threats of war with one another – agreed to the “complete denuclearisation of the Korean Peninsula” in a joint agreement, with the U.S. promising to provide “security guarantees” to North Korea in return.

    A joint statement signed at the end of the summit, gave few details on how either goal would be achieved but Trump fleshed out some details at a news conference.

    “President Trump committed to provide security guarantees to the DPRK and Chairman Kim Jong Un reaffirmed his firm and unwavering commitment to complete denuclearisation of the Korean Peninsula,” they said.

    Trump said he expected the denuclearisation process to start “very, very quickly”. U.S. Secretary of State Mike Pompeo and North Korean officials would hold follow-up negotiations “at the earliest possible date”, the statement said.

    Trump told the news conference that the process would be verified, and that the verification “will involve having a lot of people in North Korea”.

    He also said Kim had told him North Korea was destroying a major engine-testing site used for missiles, but maintained international sanctions on Pyongyang would stay in place for now.

    Trump said joint military exercises with South Korea would be halted. He said the move would save Washington a tremendous amount of money and would not be revived “unless and until we see the future negotiation is not going along like it should”.

    “Some things were agreed and not reflected in the agreement,” Trump said.

    Kim earlier said the two leaders had a historic meeting “and decided to leave the past behind. The world will see a major change.”

    However, several political analysts said the summit had yielded symbolic, rather than tangible, results.

    “It is unclear if further negotiations will lead to the end goal of denuclearisation,” said Anthony Ruggiero, senior fellow of Washington’s Foundation for Defense of Democracies think tank. “This looks like a restatement of where we left negotiations more than 10 years ago and not a major step forward.”

    The document made no mention of the sanctions and nor was there any reference to finally signing a peace treaty. North Korea and the United States were on opposite sides in the 1950 to 1853 Korean War and are technically still combatants, as the conflict, in which millions of people died, was concluded only with a truce.

    But the joint statement did say the two sides had agreed to recover the remains of prisoners of war and those missing in action so that they could be repatriated.

    China, the third party to the truce, said it hoped North Korea and the United States could reach a basic consensus on denuclearisation.

    “At the same time, there needs to be a peace mechanism for the peninsula to resolve North Korea’s reasonable security concerns,” China’s top diplomat, state councillor Wang Yi, told reporters in Beijing.

    Russia’s deputy foreign minister said the Kremlin had a positive assessment of the summit but “the devil is in the details”, the Tass news agency reported.

    If the summit does lead to a lasting detente, it could fundamentally change the security landscape of Northeast Asia, just as former U.S. President Richard Nixon visit to China in 1972 led to the transformation of China.

    But Li Nan, senior researcher at Pangoal, a Beijing-based Chinese public policy think tank, said the meeting had only symbolic significance.

    “There is no concrete detail on the denuclearisation of the Korean peninsula and the provision of security guarantees by the United States,” Li said. “It is too early to call it a turning point in North Korea-U.S. relations.”

    The dollar however jumped to a three-week top and Asian shares rose on news of the agreement.

    Trump said he had formed a “very special bond” with Kim and that the relationship with North Korea would be very different in the future.

    “People are going to be very impressed and people are going to be very happy and we are going to take care of a very dangerous problem for the world,” Trump said.

    He called Kim “very smart” and a “very worthy, very hard negotiator.”

    “I learned he’s a very talented man. I also learned that he loves his country very much.”

    During a post-lunch stroll through the gardens of the Singapore hotel where the summit was held, Trump said the meeting had gone “better than anybody could have expected”.

    Kim stood silently alongside, but the North Korean leader had earlier described their summit as a “a good prelude to peace”.

    Both men walked to Trump’s bullet-proof limousine, nicknamed “The Beast”, and looked in at the rear seat, with Trump apparently showing Kim something inside.

    They then resumed their walk.

    They had appeared cautious and serious when they first arrived for the summit at the Capella hotel on Singapore’s Sentosa, a resort island with luxury hotels, a casino, manmade beaches and a Universal Studios theme park.

    The Federal Government yesterday commended United States and North Korea for yesterday’s historic agreement.

    In a statement yesterday, the government said Nigeria was optimistic that the two nations would uphold the commitments made during the landmark Summit.

    Spokesperson of  Ministry of Foreign Affairs Dr. Tope Adeleye Elias-Fatile, said “The Federal Government of Nigeria congratulates Chairman Kim Jong Un of Democratic People’s Republic of Korea (DPRK) and President Donald Trump of the United States of America on the historic achievement made at the “Kim and Trump Summit,” held earlier today, Tuesday 12th June, 2018, in Singapore, leading to the joint signing of a Statement by the two leaders; emphasising the establishment of new relationship; building an enduring peace and stability; the denuclearisation efforts in the Korean Peninsula; as well as recovery and repatriation of Prisoners of War (POW)/Missing in Action (MIA).

    “The success of the historic Summit is a demonstration of commitment by the relevant parties towards de-escalation of tension in the Korean Peninsula and a consolidation of the earlier achievement made during the Inter-Korean Summit of 27th April, 2018, resulting in the Panmunjom Declaration between the leaders of the Koreas.

    “Nigeria commends the bold step taken by the DPRK to dismantle the nuclear launch site as an indication of the determination to this peace process. In addition, Nigeria is optimistic that the two nations would uphold the commitments made duri

  • U.S. urges OPEC to raise oil production by 1million

    The United States (U.S) has quietly asked Saudi Arabia and several other Organisation of Petroleum Exporting Countries (OPEC) nations to raise oil production by some 1 million bpd, it was gathered yesterday.

    While the U.S. government has often expressed opinion against OPEC’s oil price-fixing policies—including a recent comment by President Donald Trump, asking for a specific amount of oil production boost is a rare move, Bloomberg’s sources noted.

    It’s not clear how the U.S. request has been conveyed, and the White House declined to comment on conversations. Yet, a spokesperson for the U.S. National Security Council told Bloomberg: “We welcome any market-based action that increases energy access and fosters a healthy global economy.”

    Back in April, when oil prices hit a three-and-a-half year highs, Trump slammed OPEC for manipulating oil prices in a tweet saying that oil prices were “artificially very high” and “will not be accepted.”

    “Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High! No good and will not be accepted!” President Trump said on Twitter on April 20.

    Oil prices then further jumped in May after the U.S. withdrew from the Iran nuclear deal and re-imposed sanctions on Iran that will kick in later this year.

    Concerns over a potential loss of some of Iran’s oil exports and the collapsing Venezuelan production supported an oil price rally for most of May, until reports emerged at the end of last month that OPEC’s largest producer Saudi Arabia and its key non-OPEC partner in the production cut deal, Russia, were discussing lifting the combined oil production of the countries from the pact by some 1 million bpd, potentially easing the cuts in response to supply concerns amid rising oil prices.

    OPEC, and Saudi Arabia specifically, have assured in recent weeks that they would address “consumer and market anxiety” if need be, as gasoline prices around the world reached their highest in four years.

     

     

     

     

     

     

     

     

     

  • U.S hails Ayade’s growth initiative

    The United States Consul General in Nigeria, Mr. John Bray, has hailed the industrialisation drive of Cross River Governor Ben Ayade.

    Bray spoke in Calabar, the capital, after he was conducted round several industries built by the Ayade administration.

    Industries visited include Cross River Garment Factory, Rice Seeds and Seedlings Factory, Calabar Pharmaceutical Company and the 21 megawatts (MW) power plant.

    Bray said: “I am really impressed as I have not seen a lot of things like these in Nigeria in my five years in the country. Seeing all these developments in one area is very impressive.”

    The envoy, who was in Calabar as advance party for some visitors, said he took some time out to see investment in the state, adding that what he saw is a beautiful state that would compel him to visit often.

    On possible areas of collaboration between United States and Cross River, Bray said such already existed with the American-made tractors at the rice seeds and seedlings factory as well as American engineers at the power plant.

    He said: “There are always areas of collaboration. Seeing the American-made tractors in the rice city with United States engineers on ground, that is an evidence of collaboration between the United States and Nigeria, though from a private sector, but there is collaboration already.

    “It is beautiful because government cannot do everything. So, seeing the private sector here and the United States products and engineers on the ground is very great.”

    Ayade expressed delight his efforts of development were being acknowledged.

    He said: “It is a reflection of the fact that I have a pass mark from America and Germany. Americans don’t mince their words. When they want to say something to you, they will tell you truly how they feel.

    “This is my third year in office and we have gone round three factories with many more to go, if we have the time. I wanted to take him to the largest banana plantation in Africa few minutes away from here, but I am sure we have other things to do. But one day, we will be back and I will take them through.”

     

     

  • Expectations, opportunities as Buhari visits Trump at White House

    President Muhammadu Buhari would be hosted by U.S. President Donald Trump on Monday at the White House to discuss issues, including fighting terrorism and economic growth.

    Buhari, during the one-day official working visit to the U.S. at the invitation of Trump, would have bilateral meeting with the U.S. president and a working lunch.

    “President Trump looks forward to discussing ways to enhance our strategic partnership and advance our shared priorities: promoting economic growth and reforms, fighting terrorism and other threats to peace and security, and building on Nigeria’s role as a democratic leader in the region.

    “The relationship of the United States with Nigeria is deep and strong, and Nigeria’s economic growth, security, and leadership in Africa will advance our mutual prosperity,” the White House said.

    International affairs experts say Buhari’s U.S. visit is strategic in many fronts, especially in view of the fact that the Nigeria-U.S. relationship was not too good prior to the inauguration of Buhari as president.

    They say Buhari, being the first democratically-elected African President that would be hosted by Trump since his inauguration and also being the first African leader Trump spoke to on phone following his inauguration as the U.S. president, speak volume.

    They also note that former U.S. Secretary of State Rex Tillerson visited Nigeria in March in a first five-country African tour embarked upon by any official of the Trump administration.

    These historic events, the experts say, apart from reaffirming Nigeria’s strategic position in Africa, raised a lot of expectations and opportunities during the visit.

    The Special Adviser to Buhari on Media and Publicity, Femi Adesina, highlighted some of the expectations and opportunities.

    “The meeting is to discuss ways to enhance the strategic partnership between the two countries and to advance shared priorities, such as promoting economic growth, fighting terrorism and other threats to peace and security.

    “The meeting will further deepen the U.S.-Nigeria relationship as the United States considers Nigeria’s economic growth, security and leadership in Africa to be critical aspects of their strategic partnership.

    “Later in the day, President Buhari will meet with a group of business persons in agriculture and agro-processing, dairy and animal husbandry,” Adesina said.

    Ahead of the visit, meetings were scheduled between senior Nigerian Government officials and executives of major U.S. companies in the areas of agriculture, aviation and transportation.

    The presidency said the Nigerian officials would be meeting with Boeing, the largest aircraft manufacturer in the world, on the National Carrier Project.

    On agriculture, the Nigerian delegation will also meet with large equipment manufacturers with focus on harvesting and post harvesting equipment.

    In the area of transportation, the officials will meet with the GE-led consortium for the implementation of the interim phase of the narrow gauge rail concession.

    A substantive concession agreement will be negotiated and finalised, to provide the consortium the opportunity to invest an estimated two billion dollars, to modernise the rail line from Lagos to Kano and from Port Harcourt to Maiduguri.

    In addition, the concession framework and the interim phase framework agreements are expected to be signed during the visit.

    The Nigerian officials will also meet with U.S.-EXIM Bank and the U.S. Overseas Private Investment Corporation to explore competitive financing arrangements.

    U.S. Ambassador to Nigeria, Stuart Symington, said the Buhari-Trump meeting “will be a very high level meeting; it will help the U.S. to also understand Nigeria’s projection”.

    “There will be independent conversation on security, governance, the Lake Chad Basin and Nigeria’s role as a democratic leader in the region,’’ Symington said.

    Nigeria’s Minister of Information and Culture, Alhaji Lai Mohammed, also described the visit as a sign of the growing cooperation between the U.S. and Nigeria.

    Mohammed said: “There will be independent conversation on security, governance, the Lake Chad Basin and Nigeria’s role as a democratic leader in the region.”

    “The meeting between President Trump and President Buhari will centre majorly on security and the economy and I think it’s not by co-incidence and I think it’s quite important.

    “He ( Buhari ) is the President of the most populous country in Africa, the president of the country with the largest economy in Africa.

    “And this is quite important because it is going to offer the opportunity for the two countries to reset their ties.

    “And I think it’s probably the fact that the world is now understanding that Nigeria is very strategic not just to the sub-region but the entire Africa,” Mohammed said.

    Amb. Hakeem Balogun, Nigeria’s ambassador to Indonesia, sees a very positive outing, saying the Nigeria-U.S. relation has improved greatly since Buhari became president and described the relationship as “very warm”.

    “The Nigeria-U.S. relationship is quite good. It’s been very warm and lovely ever since the coming of this administration.

    “Prior to President Buhari’s ascendancy, the relationship was sort of lukewarm following the American’s complaints over Nigeria’s handling of security issues, human rights allegations, issues of corruption, issues of governance.

    “These are issues which the present government has come in to make the focal point of its administration. And no doubt, even since then, our relationship has been very robust.

    “Our relationship has entered the fulcrum of the Bi-National Commission and based on that, it has formed the bedrock of our relationship; the bi-national commission is the foundation, the basis of the relationship between both countries.

    “Well within the bedrock of that bi-national commission, are issues of good governance, corruption, security and others, which formed the basis of our relationship with the United States.”

    On Corruption, Balogun, who was Nigeria’s former Charge d’ Affaires in U.S., said the U.S. was quite impressed with how far Nigeria had gone in the fight against corruption under Buhari.

    “They (U.S.) really have this belief that the person of Mr President was okay to handle the issue of corruption in Nigeria and that he’s been doing well.

    “So I can definitely tell you that the United States is pleased with what we’ve been doing at that level, ditto the efforts to revive the economy,” Balogun said.

    To corroborate Balogun’s assertion, Trump, during his phone conversation with Buhari in February 2017, discussed the strong cooperation between the U.S. and Nigeria, including on shared security, economic, and governance priorities.

    Trump underscored the importance the United States places on its relationship with Nigeria, and he expressed interest in working with Buhari to expand the strong partnership.

    The leaders agreed to continue close coordination and cooperation in the fight against terrorism in Nigeria and worldwide.

    The U.S. president, particularly expressed support for the sale of aircraft from the U.S. to support Nigeria’s fight against Boko Haram.

    Trump thanked Buhari for the leadership he has exercised in Africa and emphasised the importance of a strong, secure, and prosperous Nigeria that continues to lead in the region and in international forums.

    Balogun also said Buhari’s visit would be a win-win for both countries considering Nigeria’s ability to rally Africa on any issue at the international stage, a diplomatic advantage, which U.S. desperately needs.

    “The U.S. recognises Nigeria as the leader on the continent. It shows that if they (U.S.) have to have a foothold in Africa or to do something in Africa, anything positive, they need the support of Nigeria.

    “All our activities in the troubled spots in Africa – the championed peace on the continent and even beyond the continent; we’ve always been there on peaceful missions around the world,” Balogun said.

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