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☆ Explainer-What Turkey Gained in Delaying Sweden's NATO Bid
▼ + stars: | 2024-01-23 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +4 min

Turkey ratified Finland's bid in April 2023 but, along with NATO member Hungary, has kept Sweden waiting. While Erdogan sent Sweden's NATO bid to Turkey's parliament for consideration last October, he openly linked the F-16s with its ultimate ratification. WHAT IS THE CURRENT STATE OF SWEDEN'S BID? Though Turkey was seen as the main hurdle, Hungary has also not ratified Sweden's bid. Hungary pledged not to be the last to ratify the bid, but its parliament is in recess until around mid-February.

Persons: Huseyin Hayatsever, Jonathan Spicer ANKARA, Tayyip Erdogan, Erdogan, Gunnar Strommer, Jens Stoltenberg, Thomas Goffus, Viktor Orban, Timothy Heritage Organizations: NATO, Ankara, Kurdistan Workers ' Party, European Union, Canada, U.S . Congress, Eurofighter Locations: Sweden, Finland, Ukraine, Turkey, Hungary, Stockholm, Helsinki, Washington, SWEDEN, FINLAND, Madrid, Kurdistan, Ankara, United States, Netherlands, SWEDEN'S

BUDAPEST, Hungary (AP) — Hungarian Prime Minister Viktor Orbán sent a letter to his Swedish counterpart, Ulf Kristersson, inviting him to Budapest to discuss Sweden's accession into the NATO military alliance, Orbán wrote Tuesday in a post on X, formerly known as Twitter. The invitation comes as Hungary and Turkey remain the only NATO members not to have ratified Sweden's bid to join the alliance. Turkish President Recep Tayyip Erdogan lifted his opposition to Sweden's membership last year in response to efforts by Stockholm to tackle supporters of Kurdish militants and other groups in Sweden that Ankara views as security threats. Erdogan has also openly linked Sweden’s NATO membership to Ankara’s efforts to purchase U.S.-made F-16 fighter jets, and has called on Canada and other NATO allies to lift arms embargoes on Turkey. Sweden and Finland abandoned their decades-long neutrality and sought membership in NATO amid heightened security concerns following Russia’s invasion of Ukraine in February 2022.

Persons: Viktor Orbán, Ulf Kristersson, Orbán, Vladimir Putin, Recep Tayyip Erdogan, Erdogan Organizations: NATO, Twitter, Sweden's, Nordic, Fidesz Locations: BUDAPEST, Hungary, Hungarian, Budapest, Turkey, Ankara, Ukraine, Orbán, Turkish, Stockholm, Sweden, Canada, Finland

☆ Turkey’s parliament approves Sweden’s NATO membership, lifting key a hurdle
▼ + stars: | 2024-01-23 | by ( ) www.cnbc.com time to read: +5 min

Turkish legislators on Tuesday endorsed Sweden's membership in NATO, lifting a major hurdle on the previously nonaligned country's entry into the military alliance. The legislators ratified Sweden's accession protocol by 287 votes to 55, with four abstentions. Hungary then becomes the only NATO ally not to have ratified Sweden's accession. Turkey's main opposition party also supported Sweden's membership in the alliance but a center-right party and the country's pro-Kurdish party declared they would oppose it. U.S. President Joe Biden's administration never formally tied the sale of the F-16s to Turkey's ratification of Sweden's NATO membership.

Persons: Tayyip Erdogan, Ulf Kristersson, Jens Stoltenberg, Sweden's, Recep Tayyip Erdogan, Burak Akcapar, Erdogan, Koray Aydin, Joe Biden's, John Kirby, Viktor Orbán Organizations: Swedish, NATO, Official Gazette, Ankara, Kurdistan Workers ' Party, Good Party, U.S . Congress, Administration, Turkey, National Security, Nordic Locations: Vilnius, Hungary, Turkey, Ankara, Stockholm, Kurdistan, Sweden, Turkey's, Canada, Washington, NATO, Finland, Ukraine, Budapest

☆ Turkey Tells NATO That Sweden Won't Join by Next Week's Meeting -Sources
▼ + stars: | 2023-11-22 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

Last week, the Turkish parliament's foreign affairs commission delayed a vote on Sweden's NATO membership bid in order to hold further talks on the subject. The Turkish Foreign Ministry was not immediately available for comment. Both Sweden and Finland had requested to join NATO in May last year following Russia's invasion of Ukraine. For ratification, the bill needs to be approved by the Turkish foreign affairs commission before being put to a full parliament vote, which could come days or weeks later. While NATO member Hungary also has not ratified Sweden's membership, Turkey is seen as the main roadblock to Sweden's accession.

Persons: Jonathan Spicer, Sabine Siebold, Tayyip Erdogan, Finland's, Erdogan, Ezgi Erkoyun, Leslie Adler Organizations: NATO, Turkish Foreign Ministry, Nordic, Kurdistan Workers, European Union Locations: Sabine Siebold ANKARA, BRUSSELS, Turkey, Turkish, Brussels, Sweden, Finland, Ukraine, embargoes, United States, Stockholm, Hungary

Last week, the Turkish parliament's foreign affairs commission delayed a vote on Sweden's NATO membership bid in order to hold further talks on the subject. NATO foreign ministers will meet in Brussels on those days, Nov. 28-29, a gathering that some in the Western defence bloc had hoped would mark Sweden's accession. The Turkish Foreign Ministry was not immediately available for comment. Both Sweden and Finland had requested to join NATO in May last year following Russia's invasion of Ukraine. While NATO member Hungary also has not ratified Sweden's membership, Turkey is seen as the main roadblock to Sweden's accession.

Persons: Tayyip Erdogan, Olaf Scholz, Liesa, Finland's, Erdogan, Ezgi Erkoyun, Leslie Adler Organizations: REUTERS, Rights, NATO, Turkish Foreign Ministry, Nordic, Kurdistan Workers, European Union, Thomson Locations: Berlin, Germany, Rights ANKARA, BRUSSELS, Turkey, Turkish, Brussels, Sweden, Finland, Ukraine, embargoes, United States, Stockholm, Hungary

☆ Sweden's NATO bid delayed in Turkish parliament
▼ + stars: | 2023-11-16 | by ( Huseyin Hayatsever | ) www.reuters.com time to read: +4 min

REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsANKARA, Nov 16 (Reuters) - The Turkish parliament's foreign affairs commission delayed a vote on Sweden's NATO membership bid on Thursday in a further setback to the Nordic country's hopes of joining the Western alliance after 18 months of waiting. "For all of our lawmakers to approve Sweden's NATO membership, they need to be fully convinced. While there is no clear timeframe on approving the purchase request for the F-16s, Ankara has linked the issue to Sweden's bid. Some analysts say Turkey's parliament could fully ratify the bid by a NATO foreign ministers meeting in Brussels on Nov. 28-29. While NATO member Hungary has also not ratified Sweden's membership, Turkey is seen as the main roadblock to Sweden's accession.

Persons: Dado Ruvic, Fuat Oktay, Tayyip Erdogan's, Oktay, Erdogan, Finland's, Burak, Ali Sahin, Huseyin Hayatsever, Jonathan Spicer, Christina Fincher Organizations: NATO, REUTERS, Rights, Nordic, Kurdistan Workers, European Union, AK Party, White, Sweden's, Thomson Locations: Rights ANKARA, Turkish, Swedish, Sweden, Finland, Ukraine, Turkey, embargoes, United States, Stockholm, Canada, Netherlands, Ankara, Brussels, Gaza, Moscow, Russia, Hungary, U.S, Hungarian, Budapest

☆ Explainer: What Turkey gained in delaying Sweden's NATO bid
▼ + stars: | 2023-11-16 | by ( Huseyin Hayatsever | ) www.reuters.com time to read: +5 min

NATO, Turkish, Swedish and Finnish flags are seen in this illustration taken May 18, 2022. Last year, Stockholm reversed a ban on exporting military equipment to Turkey, without revealing details of companies or products. WHAT HAVE OTHER NATO MEMBERS DONE? In October, Erdogan sent Sweden's NATO bid to Turkey's parliament for consideration. But it has faced objections in the U.S. Congress over Turkey's delaying NATO enlargement and its human rights record.

Persons: Dado Ruvic, Tayyip Erdogan, Erdogan, Gunnar Strommer, Jens Stoltenberg, Thomas Goffus, Huseyin Hayatsever, Jonathan Spicer, Alex Richardson Organizations: REUTERS, Rights, Turkish, NATO, Stockholm, Kurdistan Workers ' Party, European Union, Canada, SWEDEN GO, U.S . Congress, Kurdish, Hamas, U.S, Thomson Locations: Rights ANKARA, Ukraine, Turkey, Hungary, Sweden, Stockholm, Helsinki, Washington, SWEDEN, FINLAND, Madrid, Finland, Kurdistan, Ankara, United States, Netherlands, Brussels, Gaza

☆ Russia says it's no longer scared of western sanctions – but its economy is still under pressure
▼ + stars: | 2023-11-09 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Russia is no longer scared of western sanctions, a Kremlin spokesperson said last week. There are signs the economy is resilient, with growth holding firm and total wealth increasing in 2022. But western embargoes are still affecting Russia, as exports plunge and the ruble craters. Russia has also got richer despite the war with Ukraine, according to the UBS Global Wealth Report. However, those top-line figures don't mean sanctions aren't working – or that Russia's economy is in rude health.

Persons: —, Dmitry Peskov shrugged, that's, Vladimir Putin's Organizations: Kremlin, Service, International Monetary Fund, UBS Global Wealth, Bank of Locations: Russia, Ukraine, Moscow, Swiss, Bank of Russia

☆ ‘The Curse’ Review: People Who Live in Glass Houses
▼ + stars: | 2023-11-09 | by ( James Poniewozik | More About James Poniewozik | ) www.nytimes.com time to read: +1 min

“It’s a mishegas,” Whitney Siegel (Emma Stone), a convert to Judaism, says to her husband, Asher Siegel (Nathan Fielder), as they do a good deed for a needy family. “Mitzvah,” Asher corrects her. “Mishegas means something else.” (It means, roughly, “craziness” in Yiddish.) “The Curse,” which has its streaming premiere on Paramount+ with Showtime Friday and its on-air premiere on Showtime Sunday, is also something else — several things else. Above all, “The Curse” is an unnerving, erratic, dizzyingly original exploration of the fine line between mitzvah and mishegas.

Persons: “, ” Whitney Siegel, Emma Stone, Asher Siegel, Nathan Fielder, ” Asher Organizations: Paramount, Showtime, HGTV Locations: New Mexico, Española

☆ Erdogan Says He Will Try to Facilitate Sweden's NATO Bid Ratification
▼ + stars: | 2023-11-04 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

ANKARA (Reuters) - Turkish President Tayyip Erdogan said he would try to facilitate the parliamentary ratification of Sweden's NATO membership as much as possible, but added that Stockhom had still not taken sufficient action on Kurdish militants. Erdogan submitted a bill approving Sweden's NATO membership bid to parliament for ratification last month, a move welcomed by the alliance and Stockholm. Erdogan also said planned talks in parliament about Turkey's 2024 state budget would now take priority, suggesting that the approval of Sweden's NATO membership might not be rapid. "But we will try to facilitate the work (on ratifying Sweden's NATO bid) as much as possible. Finland's membership was sealed in April, but Sweden's bid had been held up by Turkey and Hungary.

Persons: Tayyip Erdogan, Stockhom, Erdogan, Haberturk, Jason Neely, Gareth Jones Organizations: NATO, Kurdistan Workers Party Locations: ANKARA, Stockholm, Turkey, Kazakhstan, embargoes, Sweden, Finland, Ukraine, Hungary

☆ Erdogan says he will try to facilitate Sweden's NATO bid ratification
▼ + stars: | 2023-11-04 | by ( ) www.reuters.com time to read: +2 min

ANKARA, Nov 4 (Reuters) - Turkish President Tayyip Erdogan said he would try to facilitate the parliamentary ratification of Sweden's NATO membership as much as possible, but added that Stockhom had still not taken sufficient action on Kurdish militants. Erdogan submitted a bill approving Sweden's NATO membership bid to parliament for ratification last month, a move welcomed by the alliance and Stockholm. Erdogan also said planned talks in parliament about Turkey's 2024 state budget would now take priority, suggesting that the approval of Sweden's NATO membership might not be rapid. "But we will try to facilitate the work (on ratifying Sweden's NATO bid) as much as possible. Finland's membership was sealed in April, but Sweden's bid had been held up by Turkey and Hungary.

Persons: Tayyip Erdogan, Stockhom, Erdogan, Haberturk, Jason Neely, Gareth Jones Organizations: NATO, Kurdistan Workers Party, Thomson Locations: ANKARA, Stockholm, Turkey, Kazakhstan, embargoes, Sweden, Finland, Ukraine, Hungary

Flags of China and U.S. are displayed on a printed circuit board with semiconductor chips, in this illustration picture taken February 17, 2023. Reuters reported in June that the very AI chips barred by prior regulations could be purchased from vendors in China's Shenzhen. AI capabilities, aided by supercomputing and advanced chips, improve the speed and accuracy of military decision-making, planning and logistics, according to the regulations released Tuesday. LICENSING EXPANDEDThe new measures also expand licensing requirements for exports of advanced chips to more than 40 additional countries that present risks of diversion to China and are subject to U.S. arms embargoes. "We don’t think incremental semiconductor equipment restrictions are likely to have significant long term effects" on equipment suppliers, Wolfe Research said in a client note.

Persons: Florence Lo, Biden, Moore, Gina Raimondo, Biren, ASML, Lam, Raimondo, Jake Sullivan, Janet Yellen, Alexandra Alper, Karen Freifeld, Stephen Nellis, David Shepardson, Max A, Chris Sanders, Jamie Freed, Daniel Wallis Organizations: REUTERS, Rights, Nvidia, Beijing, Commerce, Reuters, Georgetown University's Center for Security, Emerging Technology, Xilinx, Intel, supercomputing, HIT, AMD, U.S, Lam, Applied Materials, Wolfe Research, Semiconductor Industry Association, Thomson Locations: China, U.S, Iran, Russia, Beijing, China's Shenzhen, Georgetown, CHINA, Macau, Netherlands

☆ Why Fed officials aren’t addressing the Israel-Hamas war the way they did with Ukraine
▼ + stars: | 2023-10-17 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +7 min

Emma Jones, a spokesperson for the Fed, declined to comment on why many Fed officials, who in the past moved swiftly to acknowledge the war in Ukraine, weren’t addressing the war in Israel. There are some Fed officials who are starting to talk about it, though — albeit only when asked questions. Fed officials see little immediate threat to the US economyAtlanta Fed President Raphael Bostic was the first to speak about the war, at the American Bankers Association’s annual conference last Tuesday. That’s probably why more Fed officials were quicker to acknowledge the war in Ukraine, Dorn said. “I don’t think the Fed wants to look like they’re taking sides,” Dorn added — but said Fed officials could easily talk about it without looking partial.

Persons: Chris Waller, ” Waller, Michael Barr, Philip Jefferson, Michelle Bowman, Lorie Logan, Emma Jones, James Dorn, “, ”, Raphael Bostic, Bostic, Neel Kashkari didn’t, aren't, they're, Al Drago, Susan Collins, ” Collins, Patrick Harker, we’ve, Harker, JPMorgan Chase, Jamie Dimon, ” Dorn, Dorn, There’s, Gregory Daco, Daco Organizations: New, New York CNN, Federal Reserve, ”, Dallas Fed, Fed, Cato Institute, CNN, Atlanta Fed, American Bankers, Minot State University, Minneapolis, Federal, Bloomberg, Getty, ” Boston, Wellesley College, Philadelphia Fed, Delaware State Chamber of Commerce, JPMorgan, Rystad Energy Locations: New York, Ukraine, Russia, Israel, Waller’s, North Dakota, Delaware, Iran, Lebanon, Syria, United States, That’s, Gaza, Hormuz, EY

Flags of China and U.S. are displayed on a printed circuit board with semiconductor chips, in this illustration picture taken February 17, 2023. The rules restrict a broader swathe of advanced chips and chipmaking tools to a greater number of countries including Iran and Russia, and blacklist Chinese chip designers Moore Threads and Biren. Nvidia's business has soared since the imposition of last year's rules because its China-only chips are still better than alternatives. LICENSING EXPANDEDThe new measures also expand licensing requirements for exports of advanced chips to more than 40 additional countries that present risks of diversion to China and are subject to U.S. arms embargoes. The Biden administration also hit 21 countries outside China with a licensing requirement for chipmaking tools.

Persons: Florence Lo, Biden, Moore, Gina Raimondo, " Raimondo, Biren, ASML, Raimondo, Jake Sullivan, Janet Yellen, Alexandra Alper, Karen Freifeld, Stephen Nellis, David Shepardson, Max A, Chris Sanders, Jamie Freed, Daniel Wallis Organizations: REUTERS, Rights, Nvidia, Commerce, HIT, AMD, Intel, U.S, Lam Research, Materials, Embassy, Semiconductor Industry Association, Thomson Locations: China, U.S, Beijing, Iran, Russia, United States, CHINA, Macau, Netherlands, Washington

☆ Fiscal excess, the power of Main Street, and US 'debasement': Here are the themes BofA says will dominate markets for the rest of this decade
▼ + stars: | 2023-10-01 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Central banks around the world are raising interest rates up from 5,000-year lows, and that's ushering in the end of abnormally high returns for stocks and bonds. In the prior decade, deflation assets like bonds and tech gained about 10%, while inflation assets such as cash, commodities, and value gained 6%. Central bank policyThe backdrop to all this has been the actions taken by global central banks, led by the US Federal Reserve. But as with other dominant themes of the 2010s, the monetary excess of central bankers is set to be replaced. The combination of central banks' monetary excess and governments' fiscal excess of the last three years has pushed nominal US GDP 40% higher since its pandemic low in the fourth quarter of 2020.

Persons: —, BofA, It's Organizations: Bank of America, Service, European Union, St, Bank of America US, US Federal Reserve Locations: Ukraine, Central

☆ Opinion: Ukraine’s bumpy road ahead just got rockier
▼ + stars: | 2023-09-26 | by ( David A. Andelman | ) edition.cnn.com time to read: +8 min

David A. Andelman David AndelmanThat is the clearest and most present danger to the security of Europe and the entire Western alliance. Fissures are appearing across the hitherto united Western front that can only be sending shivers of joy up Putin’s spine. Putin quite rightly appreciated the stakes — and the opportunity — when he first launched his heartless blockade of Ukraine’s grain, grain that helps feed not only Europe but also vast stretches of Africa now plunged into the threat of devastating hunger. Ukrainian President Volodymyr Zelensky addresses the UN General Assembly last week in New York City. The EU is weighing up a mammoth four-year, 20 billion euro ($21.3 billion) fund to finance weapons purchases for Ukraine.

Persons: David A, David Andelman, Vladimir Putin, shivers, Putin, Hungary —, Volodymyr Zelensky, Bryan R, Smith, hasn’t, ”, Mateusz Morawiecki, Andrzej Duda, Robert Fico, Fico, Olaf Scholz, —, Mitch McConnell, “, ” Robert I, Harvard Kennedy Organizations: CNN, French Legion of, The New York Times, CBS News, America, Republicans, NATO, European Union, UN, Assembly, Getty, Smer Party, ”, World Trade Organization, Ukraine, North, Times, Harvard Kennedy School’s Locations: Ukraine, Europe, Africa, Poland, Slovakia, Bialobrzegi, Warsaw, Hungary, New York City, AFP, New York, Moscow, ” Polish, Banovce nad Bebravou, ” Ukraine, EU, Russia, North Korea, Zelensky, London, America, China, ” China

REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsPARIS/LONDON, Sept 14 (Reuters) - Britain, France and Germany said on Thursday they would retain ballistic missile and nuclear proliferation-related sanctions on Iran that were set to expire in October under the 2015 Iran nuclear deal, a step that could provoke Iranian retaliation. The JCPoA agreed with Iran in 2015 envisaged a "Transition Day" eight years later, when remaining ballistic missile and nuclear-related sanctions on Iran would be lifted. But Britain, France and Germany will now transfer UN sanctions on Iran that are due to be lifted next month into domestic law, while Britain and the EU will retain existing sanctions, Britain's Foreign office said in a statement. The crux of the JCPoA pact, which Iran made with Britain, China, France, Germany, Russia and the U.S., limited Tehran’s nuclear programme making it harder for it to get fissile material for a bomb in return for relief from economic sanctions. We stand ready to reverse our decision, should Iran fully implement its JCPoA commitments," the E3 said, referring to a mechanism that would immediately restore all UN sanctions against Iran.

Persons: Leonhard Foeger, Josep Borrell, Donald Trump, Joe Biden’s, Sachin Ravikumar, Parisa, David Holmes, Timothy Gardner Organizations: International Atomic Energy Agency, IAEA, REUTERS, Reuters, EU, Iran, Thomson Locations: Vienna, Austria, Britain, France, Germany, Iran, United Kingdom, Ukraine, Russia, Tehran, United States, China, U.S, Dubai

☆ Shady export leaks suggest Russian sanctions work
▼ + stars: | 2023-08-29 | by ( Pierre Briancon | ) www.reuters.com time to read: +3 min

That may be true, but the cracks mostly demonstrate the sanctions’ impact, and why they can be tightened. EU exporters did ship nearly 17 billion euros’ worth of goods to Kazakhstan in the 18 months starting in January 2022. And if exports had grown at the 17% pace of previous years, some 6 billion euros would remain unexplained. Meanwhile, Russia’s efforts to circumvent a G7 price cap on its oil shipments are another sign of Western sanctions’ overall effectiveness. EU exports to Russia declined by 30% to 75.7 billion euros over the same period.

Persons: Vladimir Putin, Francesco Guerrera, Streisand Neto, Oliver Taslic Organizations: Reuters, European Union, Reuters Graphics Reuters, Western, Union, Eurostat, Thomson Locations: Kazakhstan, Soviet, Moscow, Uzbekistan, Georgia, Azerbaijan, Armenia, Kyrgyzstan, Russia, China, India, Europe, United States, Central Asia, EU

A Russian rouble banknote is seen in front of a descending and rising stock graph in this illustration taken March 1, 2022. So it’s no surprise that a day after prodding by a Kremlin official, the central bank announced an emergency rate increase of 350 basis points to 12%. Stricter fiscal or monetary policies would hurt an economy weakened by the war effort and Western sanctions. After a record high in 2022, it fell 85% in the first seven months of the year, to some $25 billion, according to the Russian central bank. Before the plunge in the currency, the central bank forecast prices rising 5% to 6.5% this year, above its 4% target.

Persons: Dado Ruvic, Vladimir Putin, it’s, Putin, Elvira Nabiullina, Vladimir Putin’s, Maxim Oreshkin, Neil Unmack, Oliver Taslic Organizations: REUTERS, Reuters, Kremlin, Reuters Graphics Reuters, Thomson Locations: Russia, Russian, Europe

☆ Wheat prices head for biggest single-day gain since Russia invaded Ukraine after fresh attacks on key grain facilities
▼ + stars: | 2023-07-19 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Wheat prices on Wednesday were on track for their biggest one-day gain since February 2022. Russia this week also backed out of a deal that had ensured safe passage for Ukraine exports in the Black Sea. The missile bombardment targeted critical Ukrainian grain facilities, and wheat prices, while still below last year's record highs, are on pace for their steepest one-day gain since February 2022, when Vladimir Putin first ordered his "special military operation." The initial agreement, which Russia, Ukraine, and Turkey hammered out last July, permitted Ukrainian exporters to ship corn, wheat, and other goods from three ports around Odesa. "Russia might collapse into multiple pieces, like the Soviet Union, and that might not be a bad thing for the world."

Persons: Vladimir Putin, Volodymyr Zelenskyy, Putin, It's, Volodymyr Lugovskyy Organizations: Service, Street Journal, Kremlin, Indiana University Locations: Russia, Odesa, Ukraine, Wall, Silicon, Chicago, Moscow, Turkey, Soviet Union

☆ Sweden's path to NATO membership cleared after Turkey greenlights bid
▼ + stars: | 2023-07-11 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +2 min

Turkey's President Recep Tayyip Erdogan agreed to back Sweden's bid to join NATO, clearing the latter's pathway to become a part of the military alliance. "Completing Sweden's accession to NATO is a historic step that benefits the security of all NATO allies at this critical time. The move was swiftly criticized and threatened to derail Sweden's NATO membership bid. NATO said Sweden and Turkey have cooperated closely to address the latter's security concerns since last year's summit. NATO's expansion along Europe's eastern flank with Finland and Sweden's membership could also make the military alliance "much stronger," Courtney added.

Persons: Recep Tayyip Erdogan, Jens Stoltenberg, Erdogan, Joe Biden, Erdoğan, William Courtney, Courtney Organizations: NATO, Turkey, PKK, Kurdish Workers ' Party, U.S, RAND Locations: Vilnius, Lithuania, Turkey, Sweden, Finland, Syria, Sweden's, Ankara

☆ Erdogan says Turkey could approve Sweden’s NATO membership if Europeans ‘open way’ to EU membership
▼ + stars: | 2023-07-10 | by ( ) www.cnbc.com time to read: +6 min

VILNIUS, Lithuania (AP) — Turkish President Recep Tayyip Erdogan on Monday introduced a new condition for approving Sweden's membership in NATO, calling on European countries to "open the way" for Turkey to join the European Union. It was the first time that Erdogan linked his country's ambition to join the EU with Sweden's efforts to become a NATO member. The White House readout of the Biden-Erdogan call did not mention the issue of Turkish membership in the EU. Sullivan didn't mention the EU membership issue. Previously non-aligned Sweden and Finland applied for NATO membership last year following Russia's invasion of Ukraine.

Persons: Tayyip Erdogan, Ulf Kristersson, Jens Stoltenberg, Recep Tayyip Erdogan, Erdogan, Joe Biden, Stoltenberg, Dana Spinant, Jake Sullivan, Biden, Sullivan, Vilnius —, Paul Levin, Levin, Tobias Billström, Billström Organizations: Swedish, NATO, Monday, European Union, U.S, EU, Biden, Institute for Turkish Studies, Stockholm University, SVT, Kurdistan Workers ' Party Locations: Vilnius, VILNIUS, Lithuania, Turkey, Lithuania's, Sweden, Ankara, Istanbul, Finland, Swedish, NATO, Madrid, Cyprus, Stockholm, Sweden's, United States, Turkish, Kurdistan, Hungary, Ukraine

☆ US gas prices are set to become more affordable and could drop below $3 a gallon by fall, GasBuddy's chief analyst says
▼ + stars: | 2023-07-05 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Americans can expect cheaper gas prices this year, with the national average set to fall below $3 a gallon, per GasBuddy. "I think the second half of the summer is going to be more affordable than the first half," Patrick De Haan said. US gas prices hit their lowest level since late April ahead of Independence Day, with the national average standing at $3.52 a gallon, per AAA. De Haan noted that Saudi Arabia's latest decision to keep cutting crude production this summer could spark a rally in crude oil prices and offset GasBuddy's forecast for falling gas prices in August. The June-November Atlantic hurricane season, and any unexpected refinery outages, could also pose risks for the downward trend in gas prices, De Haan said.

Persons: Patrick De Haan, —, De Haan Organizations: Service, Privacy, CNBC, AAA, Saudi Locations: Saudi, Ukraine, Europe

A union representing port workers in Western Canada officially began striking, an action that could have ripple effects reaching beyond the U.S.'s northern neighbor. The International Longshore & Warehouse Union Canada's Longshore Division announced its labor strike began in a Saturday Facebook post signed by union president Rob Ashton. More than 99% of members of the union, who support West Coast ports such as Vancouver and Prince Rupert, voted to approve the strike last month. In an email to CNBC, BNSF said it had no comment on a strike impact. In a CPKC customer advisory issued Wednesday, the railway said: "The work stoppage related to this notice could impact port operations in British Columbia.

Persons: Rob Ashton, Prince Rupert, Ashton, Seamus O'Regan Jr, Port of Prince Rupert, Paul Brashire, of Prince Rupert, Berkshire Hathaway, CPKC, Steve Lamar Organizations: Warehouse, Longshore Division, Facebook, Canada Longshore, British Columbia Maritime Employers Association, Canadian, U.S, CNBC, Tacoma ., Longshoremen's Association, Warehouse Union, ITS Logistics, Port, BNSF, American Apparel and Footwear Association Locations: Western Canada, West Coast, Vancouver, British, Canada, Port, Port of, Asia, Seattle, Tacoma, U.S, Chicago, Detroit, of, Canadian Pacific, Berkshire, British Columbia

☆ Russia turmoil to fuel market volatility, flight to safety
▼ + stars: | 2023-06-24 | by ( ) www.reuters.com time to read: +5 min

The question is how much and how lasting the reaction will be, much of which depends upon unknowable developments." It is reasonable to expect oil and other key commodity prices to rise. If oil prices rise sharply, that will indeed weigh upon equities and reignite stagflation fears. In theory it should benefit from a flight to safety, but in practice a strong dollar can impede it." “Probably bearish Indian stocks too as the dividend they’ve received from cheap Russian oil likely disappears.

Persons: Wagner, Stringer, STEVE SOSNICK, stagflation, MICHAEL PURVES, DAVID KOTOK, Putin, Orban, ’, GEORGE BOUBOURAS, JAMIE HALSE, “, Tom Westbrook, Megan Davies, Carolina Mandl, Ira Iosebashvili, Lananh Nguyen, Daniel Wallis Organizations: Southern Military District, REUTERS, Moscow, Defense, CUMBERLAND, NATO, MELBOURNE, WHO, SYDNEY, Thomson, & & Locations: Rostov, Don, Russia, Russian, China, SARASOTA , FLORIDA, Belarus, Soviet, EU, Hungary, Turkey, JAPAN, Ukraine, Eastern Europe, Singapore, New York

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