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First Post
2 days ago
- Business
- First Post
Russia becomes first country to recognise Taliban govt by accepting Afghan ambassador credentials
In a statement, the Russian Foreign Ministry said Moscow saw good prospects to develop ties and would continue to support Kabul in security, counter-terrorism and combating drug crime read more A flag of the Islamic Emirate of Afghanistan flutters at the Embassy of Afghanistan in Beijing, China. on October 19, 2023. Reuters File Russia said on Thursday it had accepted the credentials of a new ambassador of Afghanistan, making it the first nation to recognise the Taliban government of the country. In a statement, the Russian Foreign Ministry said Moscow saw good prospects to develop ties and would continue to support Kabul in security, counter-terrorism and combating drug crime. It also saw significant trade and economic opportunities, especially in energy, transport, agriculture and infrastructure. 'We believe that the act of official recognition of the government of the Islamic Emirate of Afghanistan will give impetus to the development of productive bilateral cooperation between our countries in various fields,' the ministry said. STORY CONTINUES BELOW THIS AD Afghan Foreign Minister Amir Khan Muttaqi said in a statement: 'We value this courageous step taken by Russia, and, God willing, it will serve as an example for others as well.' No other country has formally recognised the Taliban government that seized power in August 2021 as US-led forces staged a chaotic withdrawal from Afghanistan after 20 years of war. However, China, the United Arab Emirates, Uzbekistan and Pakistan have all designated ambassadors to Kabul, in a step towards recognition. The Russian move represents a major milestone for the Taliban administration as it seeks to ease its international isolation. It is likely to be closely watched by Washington, which has frozen billions in Afghanistan's central bank assets and enforced sanctions on some senior leaders in the Taliban that contributed to Afghanistan's banking sector being largely cut off from the international financial system. Complex history Russia has been gradually building relations with the Taliban, which President Vladimir Putin said last year was now an ally in fighting terrorism. Since 2022, Afghanistan has imported gas, oil and wheat from Russia. The Taliban was outlawed by Russia as a terrorist movement in 2003, but the ban was lifted in April this year. Russia sees a need to work with Kabul as it faces a major security threat from Islamist militant groups based in a string of countries from Afghanistan to the Middle East. STORY CONTINUES BELOW THIS AD In March 2024, gunmen killed 149 people at a concert hall outside Moscow in an attack claimed by Islamic State. U.S. officials said they had intelligence indicating it was the Afghan branch of the group, Islamic State Khorasan (ISIS-K), that was responsible. The Taliban says it is working to wipe out the presence of Islamic State in Afghanistan. Western diplomats say the Taliban's path towards wider international recognition is blocked until it changes course on women's rights. The Taliban has closed high schools and universities to girls and women and placed restrictions on their movement without a male guardian. It says it respects women's rights in line with its strict interpretation of Islamic law. Russia has a complex and bloodstained history in Afghanistan. Soviet troops invaded the country in December 1979 to prop up a Communist government, but became bogged down in a long war against mujahideen fighters armed by the United States. Soviet leader Mikhail Gorbachev pulled his army out in 1989, by which time some 15,000 Soviet soldiers had been killed. STORY CONTINUES BELOW THIS AD
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First Post
25-06-2025
- Business
- First Post
Switzerland in talks with US after F-35 fighter jet price dispute threatens $7.4 billion deal
Switzerland was informed the price for the F-35s would be dearer because of higher raw materials and energy costs, as well as higher US inflation, with the sum potentially increasing by $650 million to $1.3 billion, the government said read more A Lockheed Martin F-35A fighter jet performs during an exhibition flight at the 55th International Paris Airshow at Le Bourget Airport near Paris, France, on June 16, 2025. Reuters File Switzerland is holding talks with the United States after Washington tried to raise the price of new fighter jets Bern is buying for its air force, the government said on Wednesday. Bern chose Lockheed Martin's F-35A Lightning II as its next-generation fighter plane in 2021, with a fixed price of around 6 billion Swiss francs ($7.4 billion) for 36 jets, a decision that attracted controversy in neutral Switzerland. But the US Joint Program Office overseeing the project said last year the price could be higher, and the US Defence Security Cooperation Agency told Switzerland in February that the fixed price was a misunderstanding. STORY CONTINUES BELOW THIS AD Switzerland was informed the price for the F-35s would be dearer because of higher raw materials and energy costs, as well as higher US inflation, with the sum potentially increasing by $650 million to $1.3 billion, the government said. 'A contract is a contract,' said Urs Loher, head of Swiss defence procurement agency Armasuisse. 'With the procurement of the F-35A fighter aircraft, we're suddenly faced with a different reality, despite a clear fixed price.' As the agreement prevents a legal settlement of the dispute, a diplomatic solution must be sought, the government said. Defence Minister Martin Pfister said talks were now under way with the U.S. authorities. 'We still believe we'll find a solution with the U.S. authorities because they also have an interest in being perceived as a reliable contractual partner,' Pfister said, while as a last resort Switzerland could cancel the deal. The decision to buy the F-35A was contested in Switzerland, with opponents arguing against replacing the country's aging F/A-18 jets with an unnecessary 'Ferrari' option. Critics said Switzerland did not need cutting-edge warplanes to defend its territory, which a supersonic jet can cross in 10 minutes. The F-35A beat bids from Boeing's F/A-18 Super Hornet, the Rafale produced by France's Dassault and the four-nation Eurofighter built by Italy's Leonardo, Britain's BAE Systems and Airbus representing Germany and Spain. STORY CONTINUES BELOW THIS AD Still, Switzerland said it remained committed to the F-35A, and that cancelling the order would have serious consequences. 'Switzerland would no longer be able to guarantee the safety of its airspace and population from 2032, as the current F/A-18 fighter aircraft would reach the end of their service life,' Pfister said.
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First Post
27-05-2025
- Business
- First Post
EU member Ireland moves against Israel over Gaza clean-up operation, to ban imports from occupied areas
If the bill is passed, Ireland would make importing goods from the occupied regions of Palestine a criminal offence. However, the law will not seek a boycott of Israeli products read more A drone view shows displaced Palestinians sheltering in tents set up near the rubble of buildings destroyed during the Israeli offensive, amid a ceasefire between Israel and Hamas, in Gaza City on February 17, 2025. Reuters File Ireland has moved to table a bill that would ban imports from the occupied territories of Palestine, a first such move by an EU member to curtail products made by Israeli settlements in Gaza. 'Given the scale and gravity of what we're now seeing with the deprivation of aid and the bombardment of Gaza … this is an appropriate course of action to take,' Simon Harris, the country's deputy prime minister, told the Financial Times. STORY CONTINUES BELOW THIS AD The settlements consist of residential, agricultural, and commercial developments in the West Bank and East Jerusalem, located beyond Israel's internationally recognised borders. How will it affect trade? If the bill is passed, Ireland would make importing goods from the occupied regions of Palestine a criminal offence. However, the law will not seek a boycott of Israeli products. A ban on exports from the occupied territories is largely symbolic, given that trade is limited to physical goods like dates, oranges, olives, and some timber, with a total value of just €685,000 over the four years from 2020 to 2024. Conor O'Neill, the head of advocacy and policy at Christian Aid Ireland, said, 'This is a massive welcome step, it is the first time a trade measure of this kind has been applied to Israel by any EU country. After decades of saying and repeating that illegal settlements are totally illegal and that the EU is opposed to them, this is the first time that words are being matched with action.' EU reviews deal with Israel Last week, the EU ordered a review of its cooperation deal with Israel and Britain halted trade talks with it as European nations took a tougher line over the Gaza war. France renewed its commitment to recognise a Palestinian state, a day after Israel's Prime Minister Benjamin Netanyahu angrily hit back at Britain, France and Canada for threatening action over his country's military offensive and blockade of Gaza. EU foreign affairs chief Kaja Kallas said 'a strong majority' of the 27 member states at a foreign ministers' meeting backed the move in a bid to pressure Israel. 'Countries see that the situation in Gaza is untenable, and what we want is to really help the people, and… to unblock the humanitarian aid so that it will reach the people,' Kallas told journalists. STORY CONTINUES BELOW THIS AD With inputs from agencies
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First Post
20-05-2025
- Politics
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'A drop in the ocean': Israel allows UN aid trucks to enter Gaza after 11 weeks
Israel has allowed a small shipment of UN humanitarian aid, including baby food, into Gaza for the first time in 11 weeks. The UN has said that it is 'just a drop in the ocean.' read more Palestinians gather at the site of an Israeli strike on a house as rescuers attempt to remove casualties from under the rubble, in Jabalia in the northern Gaza Strip, on April 13, 2025. Reuters File Israel has said it allowed five UN trucks carrying humanitarian aid, including baby food, into Gaza after an 11-week blockade, BBC reported. In response, the UN's humanitarian chief said the aid was just 'a drop in the ocean' compared to what the 2.1 million Palestinians in Gaza urgently need, as experts warn of a growing risk of famine amid ongoing strikes that continue to claim lives, including those of civilians. Prime Minister Benjamin Netanyahu said he agreed to let in a small amount of aid following pressure from US senators. STORY CONTINUES BELOW THIS AD 'We must not reach a situation of famine, both from a practical and a diplomatic standpoint,' Netanyahu said, addressing growing criticism within Israel. This is a developing story.
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First Post
12-05-2025
- Business
- First Post
Conflict with India won't have large fiscal impact, says Pakistan finance minister
Aurangzeb described India-Pakistan conflict as a 'short duration escalation' with minimal fiscal impact, stating it can be 'accommodated within the fiscal space which is available to the government of Pakistan' read more Pakistan Finance Minister Muhammad Aurangzeb speaks during an interview at the 2025 annual IMF/World Bank Spring Meetings in Washington, DC, U.S., on April 25, 2025. Reuters File Pakistan's Finance Minister Muhammad Aurangzeb on Monday said the recent military escalation with arch-rival India won't have a large fiscal impact on Pakistan and can be managed within the current fiscal space, with no need for a new economic assessment. In an online interview with Reuters, Aurangzeb said trade talks with the US — which played a key role in mediating the ceasefire between India and Pakistan — were expected to progress in 'short order.' STORY CONTINUES BELOW THIS AD He added that Pakistan was considering increased imports of high-quality cotton and soybeans, and was also exploring other asset classes, including hydrocarbons. On Monday, US President Donald Trump said the US is prepared to assist India and Pakistan following their ceasefire agreement, attributing the de-escalation in part to trade pressure, which he claimed played a major role in halting the conflict. Pakistan currently faces a 29% tariff on exports to the U.S. due to an estimated $3 billion trade surplus, though the tariffs are under a 90-day suspension announced in April. Meanwhile, the International Monetary Fund (IMF) approved a $1 billion loan disbursement to Pakistan on Friday, as part of a broader $7 billion bailout package. Aurangzeb confirmed that the tranche would be received on Tuesday. The IMF executive board also approved a fresh $1.4 billion loan to Pakistan under its climate resilience facility. The federal budget for the next fiscal year, starting July, will be finalised within the next three to four weeks, with scheduled budget talks with the IMF to take place from May 14-23, he said. Regarding the India-Pakistan conflict, Aurangzeb described it as a 'short duration escalation' with minimal fiscal impact, stating it can be 'accommodated within the fiscal space which is available to the government of Pakistan'. When questioned about potential increased military spending in the upcoming budget, Aurangzeb deferred comment, saying it was premature to discuss specific plans. However, he said: 'Whatever we need to do in terms of ensuring that our defence requirements are met will be met.' STORY CONTINUES BELOW THIS AD Tensions between India and Pakistan began mounting after the April 22 attack in Indian Kashmir on Hindu tourists that killed 26 people, sparking the worst clashes between the nuclear-armed neighbours in more than two decades. On Saturday a ceasefire in the Himalayan region was announced by Trump, following four days of fighting and diplomacy and pressure from Washington. With inputs from agencies
