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Ukraine war is a ‘perfect storm,’ threatening food, energy, and debt crises across the globe: UN report

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Russia’s invasion of Ukraine seems to have set off a “excellent storm,” sparking a number of crises throughout the globe within the areas of meals, vitality, and debt, with devastating impacts for growing nations, the United Nations warned in a report Wednesday.

“The battle in Ukraine, in all its dimensions, is producing alarming cascading results to a world financial system already battered by COVID-19 and local weather change, with significantly dramatic impacts on growing nations,” the report warns. “Latest projections by UNCTAD [the United Nations Conference on Trade and Development] estimate that the world financial system will probably be a full proportion level of GDP development decrease than anticipated as a result of battle, which is severely disrupting already tight meals, vitality, and monetary markets.”

RUSSIA INVADES UKRAINE: LIVE UPDATES

The report describes this disruption as a “excellent storm,” coming “getting ready to a worldwide debt disaster.”

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Russian President Vladimir Putin speeches through the Valdai Dialogue Membership’s plenary assembly, on October,21,2021, in Sochi, Russia. 
( Mikhail Svetlov/Getty Photos)

Ukraine and Russia present round 30% of the world’s wheat and barley, round 20% of its maize, and greater than half of its sunflower oil. Russia is the world’s high pure gasoline exporter and the second-largest oil exporter. Russia and its neighbor Belarus collectively export about 20% of the world’s fertilizers.

Partially as a result of battle, “commodity costs are reaching report highs throughout the board,” the report notes. “Meals costs are 34% greater than this time final yr and have by no means been this excessive since [the U.N.’s Food and Agriculture Organization] began recording them. Equally, crude oil costs have elevated by round 60%, and gasoline and fertilizer costs have greater than doubled.”

Observatory of Economic Complexity reports that 25 percent of world's wheat comes from Russia and Ukraine.

Observatory of Financial Complexity experiences that 25 p.c of world’s wheat comes from Russia and Ukraine.

These disruptions will hurt growing nations essentially the most, and the report warns that greater meals costs are correlated with civil unrest. In different phrases, the battle in Ukraine might spark mass protests and even civil wars in different nations.

As many as 1.7 billion persons are “extremely uncovered” to the results of the Ukraine battle on the worldwide meals, vitality and finance techniques, the report notes. Of these 1.7 billion individuals, 553 million are already poor, and 215 million are already undernourished.

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A monument to Taras Shevchenko, a Ukrainian poet and a national symbol, in seen with traces of bullets against the background of an apartment house ruined in the Russian shelling in the central square in Borodyanka, Ukraine, Wednesday, Apr. 6, 2022. 

A monument to Taras Shevchenko, a Ukrainian poet and a nationwide image, in seen with traces of bullets in opposition to the background of an house home ruined within the Russian shelling within the central sq. in Borodyanka, Ukraine, Wednesday, Apr. 6, 2022. 
(AP Picture/Efrem Lukatsky)

“The influence of the battle is international and systemic,” U.N. Secretary-Basic Antonio Guterres stated at a briefing on the report, CBNC reported.

“Inflation is rising, buying energy is eroding, gross prospects are shrinking and improvement is being stalled and in some circumstances features are receding,” Guterres added. “Many growing economies are drowning in debt with bond offers already on the rise since final September, main now to elevated premiums and exchange-rate pressures.”

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US removes Gaza aid pier due to weather and may not put it back, officials say

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US removes Gaza aid pier due to weather and may not put it back, officials say

The pier built by the U.S. military to bring aid to Gaza has been removed due to weather to protect it, and the U.S. is considering not re-installing it unless the aid begins flowing out into the population again, U.S. officials said Friday.

While the military has helped deliver desperately needed food through the pier, the vast majority of it is still sitting in the adjacent storage yard and that area is almost full. Aid agencies have had difficulty moving the food to areas further into Gaza where it is most needed because the humanitarian convoys have come under attack.

EXCLUSIVE: ISRAEL TO BOOST FRESH WATER SUPPLY IN GAZA WITH PLANT UPGRADE AS UN WARNS IT MAY SUSPEND AID

The U.N., which has the widest reach in delivering aid to starving Palestinians, hasn’t been distributing food and other emergency supplies arriving through the pier since June 9. The pause came after the Israeli military used an area near the pier to fly out hostages after their rescue in a raid that killed more than 270 Palestinians, prompting a U.N. security review over concerns that aid workers’ safety and neutrality may have compromised.

A U.S. Army soldier gestures as trucks loaded with humanitarian aid arrive at the U.S.-built floating pier Trident before reaching the beach on the coast of the Gaza Strip, Tuesday, June 25, 2024.  (AP Photo/Leo Correa)

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U.N. World Food Program spokesman Steve Taravella said Friday that the U.N. participation in the pier project is still on pause pending resolution of the security concerns.

While always meant to be temporary and never touted as a complete solution to the problems getting humanitarian aid into Gaza, President Joe Biden’s $230 million project has faced a series of setbacks since aid first rolled ashore May 17 and has been criticized by relief groups and congressional Republicans as a costly distraction.

The pier has been used to get more than 19.4 million pounds, or 8.6 million kilograms, of food into Gaza, but has been stymied not only by aid pauses but unpredictable weather. Rough seas damaged the pier just days into its initial operations, forcing the military to remove it temporarily for repairs and then reinstall it. Heavy seas on Friday forced the military to remove it again and take it to the Israeli port at Ashdod.

Several U.S. officials, speaking on condition of anonymity to discuss military movements, said the military could reinstall the pier once the bad weather passes in the coming days, but the final decision on whether to reinstall it hasn’t been made.

Sabrina Singh, a Pentagon spokeswoman, acknowledged that she doesn’t know when the pier will be reinstalled. “When the commander decides that it is the right time to reinstall that pier, we’ll keep you updated on that.,” she said.

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She also said Friday that there is a need for more aid to come into Cyprus and be transported to the pier. She noted that the secure area onshore is “pretty close to full,” but that the intention is still to get aid into Gaza by all means necessary. She said the U.S. is having discussions with the aid agencies about the distribution of the food.

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But, she added, “Of course, if there’s not enough room in the marshalling yard, then it doesn’t make sense to put our men or women out there when there’s nothing to do.”

Palestinians are facing widespread hunger because fighting in the nearly nine-month Israel-Hamas war, Israeli restrictions on border crossings that are far more productive than the sea route and the attacks on the aid convoys have severely limited the flow of food, medicine and other supplies.

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Meloni condemns antisemitism among ruling party's youth league

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Meloni condemns antisemitism among ruling party's youth league

Left-wing news outlet Fanpage claimed it had video evidence of some National Youth members using racist slurs and making a Nazi salute.

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Italy’s Prime Minister Giorgia Meloni has condemned racist and antisemitic remarks made by some members of the ruling Brothers of Italy party’s youth league.

Speaking to reporters in Brussels, Meloni said antisemitism and racism are incompatible with the party after two leading members of the National Youth resigned over alleged antisemtic remarks made against a Jewish Senator.

“I have said many times and repeat, I think that those who have racist, antisemitic or nostalgic feelings have simply got their home wrong, because these feelings are incompatible with the Brothers of Italy, they are incompatible with the Italian right, they are incompatible with the political line which we have clearly defined in recent years, and therefore I do not accept that there are ambiguities on this,” she said.

Meloni’s comments come after a report appeared in the left-wing online newspaper, Fanpage, which claimed it had video and audio recordings of some National Youth members using racist slurs and making Nazi salutes.

But Meloni also took a swipe at Fanpage’s reporting methods.

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“I think that if we want to call it a journalistic investigation, the same attitude and the same investigation would be carried out in all the youth organisations of other political parties. We don’t know what could come out, we won’t know. You know why? Because in the history of the Italian Republic, what Fanpage did with Brothers of Italy is a first,” she said.

“It has never even been considered that they could infiltrate a political organisation, secretly record its meetings, also record the personal affairs of minors.”

The Fanpage investigation, entitled ‘Melonian Youth’, has sent shockwaves through the Brothers of Italy at the same time as Meloni has been seeking to cement a reputation as a moderate voice on the EU stage.

There has also been outrage from members of the Jewish Community of Rome, with some calling on Meloni to punish the youth wing members exposed in the investigation. 

“The Jewish Community of Rome condemns the shameful images of racism and antisemitism that emerged from the Fanpage investigation,” president Victor Fadlun posted on X.

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He’s urged the party to take “appropriate action,” saying it was “imperative that society” reacts against discrimination.

Brothers of Italy has its roots in the Italian Social Movement (MSI), formed in 1946 as a successor to Benito Mussolini’s fascist movement that ruled Italy for more than 20 years.

Meloni has repeatedly condemned the racist, anti-Jewish laws enacted by Mussolini in 1938 in a bid to turn her party into a mainstream conservative force.

But she has also ignored calls to declare herself “anti-fascist”, prompting some of her critics to say she has failed to fully distance herself from neo-fascism.

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Jeff Goldblum Is Zeus in KAOS: Get Release Date for Greek Mythology Riff

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Jeff Goldblum Is Zeus in KAOS: Get Release Date for Greek Mythology Riff


‘KAOS’ Season 1 Cast, Release Date, Trailer — Jeff Goldblum Is Zeus



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