UN asks Russia to withdraw troops from Ukraine as US slaps fresh sanctions

News Network
February 24, 2023

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The United Nations General Assembly has asked Russia to withdraw its troops from Ukraine and prioritize on finding a diplomatic solution to the crisis in the former Soviet state as the US slapped fresh sanctions on Moscow.

A two-thirds majority of the UN body, who met for a special session of the UN General Assembly on Thursday,  voted -- 141 for and 7 against while the rest, including heavyweights China and India, chose abstention --   in favor of a resolution that demanded Russian troops' withdrawal from Ukraine.

The resolution called for Russia to "immediately, completely and unconditionally" pull out its forces from Ukraine, and shift the Russian government’s focus on diplomatic means to establish a lasting peace between Moscow and Kiev.

The non-binding resolution, which was set forth by Germany, carries symbolic weight by signifying Russia's continued isolation on the world stage ahead of Friday's first anniversary of  Russia’s February 24, 2022 start of a special military operation in pro-Russia speaking regions of eastern Ukraine with the aim of de-Nazifying the Donbas and other pro- Moscow areas in the former Soviet country.

Addressing the Assembly, Iran’s UN Ambassador Saeed Iravani said all parties involved in the Ukraine war should abandon military ambitions and prioritize a diplomatic solution to achieve sustainable peace.

Meanwhile, UN Secretary-General Antonio Guterres called the Russian campaign an “affront to our collective conscience.”

Guterres described the anniversary of Russia’s military ops as “a grim milestone for the people of Ukraine and for the international community.”

The US Ambassador to the UN, Linda Thomas-Greenfield, described the vote in favor of the anti-Russia resolution as a "historic" event and called on Russian troops to "withdraw immediately, completely and unconditionally from Ukraine's internationally recognized territory.” "Send your troops home."

The White House’s Press Secretary Karine Jean-Pierre, in related news, told reporters on Thursday that the US aimed to slap more sanctions against Russia over the war in Ukraine.

"The United States will implement sweeping sanctions against key sectors that generate revenue for Putin," she said.

She said at a virtual summit on Friday attended by leaders of the G7 countries -- Britain, Canada, France, Germany, Italy, Japan and the United States -- that will also be joined by Ukrainian President Volodymyr Zelensky, the group will jointly announce their anti-Moscow stance in favor of Kiev.  

"Leaders will discuss how we continue supporting Ukraine," Jean-Pierre said.

However, she would not say whether the new US measures would be mirrored by the G7 partners.

Among the new targets of the fresh anti-Moscow sanctions will be banks and entities that help Moscow evade the waves of sanctions already imposed on Russia.

The United States will target Russian banks and the defense industry, as well as "actors in third-party countries that are attempting to backfill and evade our sanctions," Jean-Pierre said.

"We will also announce new economic energy and security assistance to help the Ukrainians continue to succeed, protect the people from Russian aggression and enable the Ukrainian government to provide basic services such as electricity and heat," she said.

Since the start of Russia’s military campaign in Ukraine, the US-led Western countries have supplied Kiev with funds, arms and munitions, as well as all-out political support.

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News Network
November 21,2024

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Shares of Adani Group companies lost about $28 billion in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

Gautam Adani's flagship company Adani Enterprises tumbled 23 per cent, while Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC , Ambuja Cements and NDTV fell between 20 per cent and 90 per cent.

Adani group's 10 listed stocks had a total market capitalisation of about $141 billion at 0534 GMT, compared to $169.08 billion on Tuesday.

US authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India's largest solar power plant project.

Adani Green in a statement on Thursday said the US Justice Department had issued a criminal indictment against board members Gautam Adani and Sagar Adani and the Securities and Exchange Commission had issued a civil complaint against them.

The US Justice Department also included Adani Green board member Vneet Jaain in the criminal indictment, it said.

Adani Green's units had decided not to proceed with the proposed US dollar denominated bond offerings due to developments, it added.

"Investors will shy away from Adani Group stocks ... and that's what this sharp selling is signifying," said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.

"This could hurt the credibility of the group and maybe borrowing costs will rise," he said.

The indictment comes nearly two years after US shortseller Hindenburg Research alleged that Adani had improperly used tax havens and was involved in stock manipulation, allegations the conglomerate denied.

Also in early Asian trading on Thursday, Adani dollar bonds slumped, with prices down 3c-5c on bonds for Adani Ports and Special Economic Zone. The falls were the largest since the Adani Group came under a short-seller attack in February 2023.

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News Network
November 21,2024

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Prominent NRI community leader SM Syed Khalilur Rehman, fondly known as CA Khalil, passed away in Dubai on Thursday at the age of 86 after a brief illness.

Khalil had been admitted to Aster Hospital in Mankhool on Tuesday after experiencing severe leg weakness. Despite the best efforts of the medical team, he succumbed to a double heart attack that worsened his condition, his son Rais Ahmed confirmed.

The news of his passing has sent waves of grief across communities, particularly in his hometown of Bhatkal, Karnataka, where he was a celebrated figure. Tributes have been pouring in on social media, highlighting his significant contributions to international trade, social service, and education.

A Legacy of Leadership and Service

A chartered accountant by profession, Khalil was a founding member of the Dubai chapter of the Institute of Chartered Accountants of India (ICAI), where he served as chairman from 1987 to 1994. His illustrious career included key leadership roles, such as general manager of Khaleej Times, group executive director of the Ilyas and Mustafa Galadari Group, and vice-chairman of the Jashanmal Group of Companies.

He also chaired Maadhyama Communications and Sahil Online, a web-based news platform, and was a director and trustee of several media companies and charitable organisations in Dubai and India.

A Champion for Education and Philanthropy

Khalil’s impact extended far beyond his professional achievements. As president and general secretary of Anjuman Hami-e-Muslimeen, he played a pivotal role in the development of educational institutions, including schools and colleges in Bhatkal and surrounding areas. His dedication to social upliftment earned him recognition from the Government of Karnataka, which honoured him with a prestigious award for his philanthropic contributions.

A Life Celebrated

The Bhatkal Muslim Khaleej Council (BMKC) recently released a documentary celebrating Khalil’s remarkable life and service to the community—a testament to his enduring legacy.

CA Khalil is survived by his family and countless admirers across the globe. His passing marks the end of an era for Indian expatriates in the UAE and beyond, leaving behind a legacy of leadership, generosity, and commitment to community service.

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News Network
November 14,2024

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Bengaluru: The Prime Minister Narendra Modi led union government has requested the Karnataka High Court to direct the Mandya district administration and the state government to clear a madrasa operating within the premises of the historic Jama Masjid in Srirangapatna.

The Waqf Board, opposing this move, has claimed the mosque as its property and defended the right to conduct madrasa activities there.

The matter was brought before a division bench headed by Chief Justice N V Anjaria following a public interest litigation filed by a person named Abhishek Gowda from Kabbalu village in Kanakapura taluk. The petition alleged “unauthorised madrasa activities” within the mosque.

Representing the Central government, Additional Solicitor General of India for High Court of Karnataka, K Arvind Kamath argued that the Jama Masjid was designated as a protected monument in 1951, yet unauthorised madrasa operations continue there.

He noted that concerns over potential law and order issues have so far prevented any intervention. Kamath urged the court to direct the Mandya district administration to take action and vacate the madrasa from the mosque.

In defence, lawyers for the state government and the Waqf Board contested this request, stating that the Waqf Board had been recognised as the owner of the property since 1963 and, thus, conducting madrasa activities there is lawful.

After hearing both sides, the bench adjourned the case for further arguments, scheduling the next hearing for November 20.

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