Latest news with #Nuer
Business Insider
19-06-2025
- Business
- Business Insider
Africa's poorest country faces $1 billion battle in U.S. court over war-era loan default from Qatar
Qatar National Bank (QNB) has taken legal action against South Sudan in a U.S court, seeking to enforce a $1 billion arbitration award after the country defaulted on a wartime loan. Qatar National Bank (QNB) has initiated legal action in the U.S. to enforce a $1 billion arbitration award against South Sudan South Sudan defaulted on a $700 million wartime loan from QNB, which has accrued additional debt due to penalties and interest. South Sudan's civil war severely impacted the economy, reducing GDP significantly and causing widespread challenges The petition, filed in a U.S court in Washington, D.C., follows South Sudan's failure to repay a $700 million loan obtained from Qatar during the height of its civil war, a debt that, with interest and penalties, has now ballooned to over $1 billion. The original loan was intended to stabilize South Sudan's fragile economy during a period of intense internal conflict. However, nearly a year after an international tribunal under the International Centre for Settlement of Investment Disputes (ICSID) ruled in favor of QNB, South Sudan and its central bank have reportedly neither paid the award nor challenged it. QNB's move to seek enforcement in the U.S. has revealed the growing frustrations over the lack of compliance and highlights how sovereign debt disputes are increasingly playing out on global legal stages. According to the International Monetary Fund (IMF), South Sudan had the lowest GDP per capita in 2025, making it one of the poorest countries in Africa. Thus, the $1 billion court case with Qatar National Bank (QNB) over an unpaid wartime loan reflects the severity of the country's economic crisis. If the U.S. court agrees to uphold the award, South Sudan could face asset seizures or further diplomatic pressure to meet its obligations. The South Sudan war The South Sudanese civil war, which ran from December 2013 to February 2020, began as a political clash between President Salva Kiir and former Vice President Riek Machar, but quickly turned into an ethnic conflict between the Dinka and Nuer. Coming just two years after independence in 2011, the war exposed the country's weak institutions and deep divisions. Beyond the human cost of over 400,000 deaths and millions displaced, the economy lost more than $28 billion in GDP between 2013 and 2018. Oil production which is South Sudan's main revenue source, plunged, inflation soared, and public services collapsed as the war devastated infrastructure and drove away investors. The loan dispute South Sudan's loan dispute with Qatar National Bank (QNB) began after independence in 2011, when the country secured credit to fund essential imports. Shortly after becoming a nation in 2011, South Sudan and its central bank secured loans from QNB to fund critical imports such as food, medicine, and refined oil. When the civil war erupted in late 2013 and oil revenues collapsed, QNB extended additional credit, including a $250 million top-up. By 2015, South Sudan began defaulting, prompting two debt renegotiations. The final 2018 agreement consolidated the loans into a $700 million, 15-year facility, with repayments set to begin in March 2019. After drawing down about $659.8 million, South Sudan missed its first payment, triggering a formal arbitration process. QNB filed a claim in 2020 under ICSID rules. Following hearings in London, the tribunal ruled in January 2024 that both South Sudan and its central bank had breached the loan terms. A final award issued in May ordered them to pay over $1.02 billion, including principal, interest, and legal costs. Despite the ruling, QNB says South Sudan has neither paid nor contested the award. According to court filings reviewed by SudansPost, QNB argues that under U.S. law and the ICSID Convention, the arbitration award must be enforced 'like a final court judgment. ' The bank says South Sudan waived any sovereign immunity t hrough its contract and ICSID membership.
Arab Times
31-05-2025
- Politics
- Arab Times
Divided UN extends arms embargo on South Sudan as fears of renewed civil war grow
UNITED NATIONS, May 31, (AP): A divided UN Security Council voted Friday to extend an arms embargo on South Sudan, where escalating political tensions have led the U.N. to warn that the country could again plunge into civil war. A US-sponsored resolution to extend the embargo and other sanctions was approved by the narrowest margin - the minimum nine "yes' votes required. Six countries abstained - Russia, China, Algeria, Sierra Leone, Somalia and Pakistan. The arms embargo, and travel bans and asset freezes on South Sudanese on the UN sanctions blacklist, were extended for a year until May 31, 2026. There were high hopes for peace and stability after oil-rich South Sudan gained independence from Sudan in 2011, becoming the world's newest nation. But the country slid into civil war in December 2013 when forces loyal to President Salva Kiir, who is from the largest ethnic group in the country, the Dinka, started battling those loyal to Riek Machar, who is from the second-largest ethnic group, the Nuer. A 2018 peace deal that brought Machar into the government as first vice-president has been fragile, and implementation has been slow. A presidential election has been postponed until 2026. Last month, the UN envoy to South Sudan, Nicholas Haysom, warned that the escalating rivalry between Kiir and Machar had degenerated into direct military confrontation between their parties and led to Machar's arrest. A campaign of misinformation, disinformation and hate speech is "fueling political and ethnic tensions - particularly on social media,' he warned. And "these conditions are darkly reminiscent of the 2013 and 2016 conflicts, which took over 400,000 lives.' US Minister Counselor John Kelley thanked the council after the vote, saying the arms embargo "remains necessary to stem the unfettered flow of weapons into a region that remains awash with guns.' "Escalating violence in recent months has brought South Sudan to the brink of civil war,' he said, urging the country's leaders to restore peace. Russia's deputy UN ambassador Anna Evstigneeva countered by saying the easing of Security Council sanctions on South Sudan is long overdue. She said the arms embargo and other sanctions are restricting implementation of the 2018 peace agreement.
The Hindu
31-05-2025
- Politics
- The Hindu
Divided UN extends arms embargo on South Sudan as fears of renewed civil war grow
A divided U.N. Security Council voted Friday (May 30, 2025) to extend an arms embargo on South Sudan, where escalating political tensions have led the U.N. to warn that the country could again plunge into civil war. A U.S.-sponsored resolution to extend the embargo and other sanctions was approved by the narrowest margin — the minimum nine 'yes' votes required. Six countries abstained — Russia, China, Algeria, Sierra Leone, Somalia and Pakistan. The arms embargo, and travel bans and asset freezes on South Sudanese on the U.N. sanctions blacklist, were extended for a year until May 31, 2026. There were high hopes for peace and stability after oil-rich South Sudan gained independence from Sudan in 2011, becoming the world's newest nation. But the country slid into civil war in December 2013 when forces loyal to President Salva Kiir, who is from the largest ethnic group in the country, the Dinka, started battling those loyal to Riek Machar, who is from the second-largest ethnic group, the Nuer. A 2018 peace deal that brought Machar into the government as first Vice-President has been fragile, and implementation has been slow. A presidential election has been postponed until 2026. Last month, the U.N. envoy to South Sudan, Nicholas Haysom, warned that the escalating rivalry between Kiir and Machar had degenerated into direct military confrontation between their parties and led to Machar's arrest. A campaign of misinformation, disinformation and hate speech is 'fueling political and ethnic tensions — particularly on social media,' he warned. And 'these conditions are darkly reminiscent of the 2013 and 2016 conflicts, which took over 400,000 lives.' U.S. Minister Counselor John Kelley thanked the council after the vote, saying the arms embargo 'remains necessary to stem the unfettered flow of weapons into a region that remains awash with guns.' 'Escalating violence in recent months has brought South Sudan to the brink of civil war,' he said, urging the country's leaders to restore peace. Russia's deputy U.N. ambassador Anna Evstigneeva countered by saying the easing of Security Council sanctions on South Sudan is long overdue. She said the arms embargo and other sanctions are restricting implementation of the 2018 peace agreement. She accused the resolution's supporters of 'putting a brake on a successful political process unfolding in Sudan, as well as complicating the deployment and proper equipping of the national armed forces.' South Sudan's U.N. ambassador, Cecilia Adeng, expressed 'deep disappointment' at the extension of the arms embargo and other sanctions. 'The lifting of the sanctions and the arms embargo is not only a matter of national security or sovereignty, but also a matter of economic opportunity and dignity,' she said. 'These measures create barriers to growth, delay development, discourage foreign investment, and leave the state vulnerable to non-state actors and outlaws.'
Hamilton Spectator
31-05-2025
- Politics
- Hamilton Spectator
Divided UN extends arms embargo on South Sudan as fears of renewed civil war grow
UNITED NATIONS (AP) — A divided U.N. Security Council voted Friday to extend an arms embargo on South Sudan, where escalating political tensions have led the U.N. to warn that the country could again plunge into civil war. A U.S.-sponsored resolution to extend the embargo and other sanctions was approved by the narrowest margin — the minimum nine 'yes' votes required. Six countries abstained – Russia, China, Algeria, Sierra Leone, Somalia and Pakistan. The arms embargo, and travel bans and asset freezes on South Sudanese on the U.N. sanctions blacklist, were extended for a year until May 31, 2026. There were high hopes for peace and stability after oil-rich South Sudan gained independence from Sudan in 2011, becoming the world's newest nation. But the country slid into civil war in December 2013 when forces loyal to President Salva Kiir , who is from the largest ethnic group in the country, the Dinka, started battling those loyal to Riek Machar , who is from the second-largest ethnic group, the Nuer. A 2018 peace deal that brought Machar into the government as first vice-president has been fragile, and implementation has been slow. A presidential election has been postponed until 2026. Last month, the U.N. envoy to South Sudan, Nicholas Haysom, warned that the escalating rivalry between Kiir and Machar had degenerated into direct military confrontation between their parties and led to Machar's arrest. A campaign of misinformation, disinformation and hate speech is 'fueling political and ethnic tensions — particularly on social media,' he warned. And 'these conditions are darkly reminiscent of the 2013 and 2016 conflicts, which took over 400,000 lives.' U.S. Minister Counselor John Kelley thanked the council after the vote, saying the arms embargo 'remains necessary to stem the unfettered flow of weapons into a region that remains awash with guns.' 'Escalating violence in recent months has brought South Sudan to the brink of civil war,' he said, urging the country's leaders to restore peace. Russia's deputy U.N. ambassador Anna Evstigneeva countered by saying the easing of Security Council sanctions on South Sudan is long overdue. She said the arms embargo and other sanctions are restricting implementation of the 2018 peace agreement. She accused the resolution's supporters of 'putting a brake on a successful political process unfolding in Sudan, as well as complicating the deployment and proper equipping of the national armed forces.' South Sudan's U.N. ambassador, Cecilia Adeng, expressed 'deep disappointment' at the extension of the arms embargo and other sanctions. 'The lifting of the sanctions and the arms embargo is not only a matter of national security or sovereignty, but also a matter of economic opportunity and dignity,' she said. 'These measures create barriers to growth, delay development, discourage foreign investment, and leave the state vulnerable to non-state actors and outlaws.' Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
San Francisco Chronicle
31-05-2025
- Politics
- San Francisco Chronicle
Divided UN extends arms embargo on South Sudan as fears of renewed civil war grow
UNITED NATIONS (AP) — A divided U.N. Security Council voted Friday to extend an arms embargo on South Sudan, where escalating political tensions have led the U.N. to warn that the country could again plunge into civil war. A U.S.-sponsored resolution to extend the embargo and other sanctions was approved by the narrowest margin — the minimum nine 'yes' votes required. Six countries abstained – Russia, China, Algeria, Sierra Leone, Somalia and Pakistan. The arms embargo, and travel bans and asset freezes on South Sudanese on the U.N. sanctions blacklist, were extended for a year until May 31, 2026. There were high hopes for peace and stability after oil-rich South Sudan gained independence from Sudan in 2011, becoming the world's newest nation. But the country slid into civil war in December 2013 when forces loyal to President Salva Kiir, who is from the largest ethnic group in the country, the Dinka, started battling those loyal to Riek Machar, who is from the second-largest ethnic group, the Nuer. A 2018 peace deal that brought Machar into the government as first vice-president has been fragile, and implementation has been slow. A presidential election has been postponed until 2026. Last month, the U.N. envoy to South Sudan, Nicholas Haysom, warned that the escalating rivalry between Kiir and Machar had degenerated into direct military confrontation between their parties and led to Machar's arrest. A campaign of misinformation, disinformation and hate speech is 'fueling political and ethnic tensions — particularly on social media,' he warned. And 'these conditions are darkly reminiscent of the 2013 and 2016 conflicts, which took over 400,000 lives.' U.S. Minister Counselor John Kelley thanked the council after the vote, saying the arms embargo 'remains necessary to stem the unfettered flow of weapons into a region that remains awash with guns.' 'Escalating violence in recent months has brought South Sudan to the brink of civil war,' he said, urging the country's leaders to restore peace. Russia's deputy U.N. ambassador Anna Evstigneeva countered by saying the easing of Security Council sanctions on South Sudan is long overdue. She said the arms embargo and other sanctions are restricting implementation of the 2018 peace agreement. She accused the resolution's supporters of 'putting a brake on a successful political process unfolding in Sudan, as well as complicating the deployment and proper equipping of the national armed forces.' South Sudan's U.N. ambassador, Cecilia Adeng, expressed 'deep disappointment' at the extension of the arms embargo and other sanctions. 'The lifting of the sanctions and the arms embargo is not only a matter of national security or sovereignty, but also a matter of economic opportunity and dignity,' she said. 'These measures create barriers to growth, delay development, discourage foreign investment, and leave the state vulnerable to non-state actors and outlaws.'
