A former senior U.S. government official says it's the "best" deal they can get, while an analyst said this is more about "politics than policy."
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Huawei warned on Tuesday that 2020 would be its most difficult year yet due to American trade restrictions which dealt a blow to its overseas sales in 2019, and predicted the Chinese government would retaliate against the United States. It said Beijing could hit back against U.S. measures to restrict chip sales to Huawei, by restricting sales of American products in China and by shifting to alternative suppliers in China and South Korea. "The Chinese government will not just stand by and watch Huawei be slaughtered on the chopping board," Chairman Eric Xu told reporters at the launch of Huawei's annual report.
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Three-quarters of Americans have been urged or ordered to stay at home, to the extent possible, to stop the spread of the COVID-19 coronavirus, and those measures appear to be working, The New York Times reports, citing data from internet-connected thermometer company Kinsa. The thermometers and their app upload temperature readings to a centralized database, allowing Kinsa to track fevers across the country. It started mapping fevers to catch flu outbreaks in 2018, and it modified its software to look for "atypical" COVID-19 fevers earlier in March.Kinsa's million-plus thermometers have been recording up to 162,000 readings from around the U.S. each day since the coronavirus started spreading, the Times reports. Only strict social-distancing measures — closing bars and restaurants, asking people to shelter in place — led to a significant drop in fever readings, while declaring a state of emergency or limiting the size of public gatherings had little effect. Data from New York and Washington State's health departments have buttressed Kinsa's findings, showing drops in hospitalizations a few days after Kinsa spotted the falloff in fevers.The Kinsa readings certainly look "like a way to prove that social distancing works," Dr. William Schaffner at Vanderbilt University tells the Times. "But it does shows that it takes the most restrictive measures to make a real difference." Kinsa data appears to show that social distancing is also reducing transmission of the seasonal flu."People need to know their sacrifices are helping," Kinsa founder Inder Singh tells the Times. "I've had friends text or call and say: 'Inder, this seems overblown. I'm sitting at home by myself, I don't know anyone who's sick, why am I doing this?'" Read more about the fever mapping at The New York Times.More stories from theweek.com Washington Gov. Jay Inslee is what real coronavirus leadership looks like The case for cautious optimism about the pandemic Chris Meloni's Elliot Stabler reportedly getting Law & Order: SVU spinoff show on NBC
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The head of Moscow's main coronavirus hospital who met with President Vladimir Putin a week ago has tested positive, he said Tuesday, as the Kremlin announced the Russian leader's health was fine. Last Tuesday Denis Protsenko met with the Russian leader who inspected the Kommunarka hospital while wearing a bright yellow hazmat suit. Kremlin spokesman Dmitry Peskov swiftly told Russian news agencies that Putin took regular tests and there was no reason to worry about his health.
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The New York Times reported this week that almost a dozen Liberty University students have come down with COVID-19 symptoms since the school reopened last week. But Liberty University officials have since pushed back on these claims, calling the Times story “fake news”. Now, students are choosing sides in who they believe is telling the truth.
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The U.S. government raced to build hundreds of makeshift hospitals to ease the strain on overwhelmed healthcare systems as the United States marked 700 deaths in a single day from COVID-19 for the first time on Tuesday. Nearly half those deaths were in New York state, still the epicenter of the coronavirus pandemic, and New York City Mayor Bill de Blasio pleaded for reinforcements from the Trump administration, saying the worst may still be weeks away. De Blasio, a Democrat, said he had asked the White House for an additional 1,000 nurses, 300 respiratory therapists and 150 doctors by April 5 but had yet to receive an answer from the Trump administration.
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As March winds down, at least 250 million Americans have been told to stay home or “shelter in place” to help stop the spread of COVID-19. Problem is, many can’t help wondering if they can still afford a place to shelter in—if they ever could.Long before the coronavirus pandemic, generous swaths of the United States faced an affordable housing crisis. With millions of Americans losing their jobs and millions more facing unemployment in the near future thanks to a concerted economic shutdown geared at reining in the disease, talk of rent strikes and freezes are in the air.The Trump administration recently nodded to the problem by ordering a foreclosure moratorium on single-family home mortgages backed by the Federal Housing Administration or obtained through government-owned lenders Fannie Mae and Freddie Mac. Fannie and Freddie have also offered forbearance for borrowers experiencing hardship. And the finance giants have dangled payment relief to indebted apartment building owners who grant respite to renters, a move the Federal Housing Finance Agency estimates could affect 43 percent of the market in multifamily leases. Then there’s the $2 trillion stimulus bill that passed last week, which contains language forbidding evictions and late charges on any property receiving virtually any federal aid. It also permits those owing money to Fannie or Freddie to request up to six months of forbearance, though it leaves the onus on borrowers to do so.If your home doesn’t fall under one of these categories or programs, and you’re wondering if you owe money to your landlord or lender, the answer is probably yes—at least for now. Still, some state and local governments have moved to stem evictions and foreclosures for everyone, and a few are even freezing rent and mortgage payments entirely. Here’s a breakdown of COVID-19 rules on housing across every state and many large metropolitan areas. This story will be updated as events warrant.Will the U.S. Run Out of Groceries Under Lockdown?Alabama: No specific government measures to prevent evictions or foreclosures, but local Regions Bank is offering a mortgage payment reprieve and the state Supreme Court has cancelled in-person proceedings until April 16, which may stem new removal proceedings. Individual judges may conduct business via phone or video, however.Alaska: Gov. Mike Dunleavy has forestalled evictions and foreclosures of any tenant or homeowner covered by the Alaska Housing Finance Corporation, while the state Supreme Court has halted eviction hearings until May 1 and barred enforcement of outstanding ejectment orders against quarantined people.Arizona: Gov. Doug Ducey has ordered a 120-day stay on eviction orders against anybody quarantined or experiencing hardship because of COVID-19, starting March 24, and has launched a $5 million rental assistance fund. The state’s “Save Our Home AZ Program” is offering principal reduction assistance, monthly mortgage subsidy assistance, and second lien elimination assistance.Arkansas: No special COVID-19 programs in place as of this writing.California: Gov. Gavin Newsom has ordered a statewide ban on evictions through the end of May, so long as tenants provide notice in writing within one week of their rent coming due that they cannot pay due to the disease. He has also cut a deal with Citigroup, JPMorgan Chase, U.S. Bank, Wells Fargo, and 200 smaller lending institutions to defer mortgage payments for up to 90 days from borrowers who can show they've lost income during the crisis. Bank of America has assented to a 30-day grace period for mortgage payments. The City of Glendale has banned rent increases through at least April 30 (though not rent payments). Philanthropists in San Diego have established a COVID-19 Community Response Fund to provide rent, mortgage, and utility assistance to struggling locals. Colorado: Gov. Jared Polis has issued non-binding guidance to state-chartered banks discouraging foreclosures, and Denver has reassigned deputies away from eviction enforcement.Connecticut: James W. Abrams, Chief Judge for Civil Matters, has issued a stay of all evictions and ejectments through May 1, and postponed all foreclosure sales until June 6.Delaware: The Justice of the Peace Court has postponed all eviction proceedings until after May 1, while Gov. John Carney has put off all residential mortgage foreclosures until 31 days after he lifts his order of emergency. Late fees or excess interest are forbidden.Florida: No state programs in place as of this writing, but the Orange County Sheriff's Office has put off eviction enforcement "until further notice," as have police in Miami-Dade. The latter county has also called off evictions in its public housing.Georgia: No state programs in place as of this writing. But on March 17, Atlanta Mayor Keisha Lance Bottoms issued an executive order imposing an eviction moratorium on the Atlanta Housing Authority, Atlanta Beltline Inc., the Fulton County/City of Atlanta Land Bank Authority, Invest Atlanta, Partners for Home, and the city Department of Grants and Community Development.Hawaii: The Hawaii Department of Public Safety Sheriff Division has indefinitely suspended evictions.Idaho: No state programs in place as of this writing, but Boise public housing has waived rent and ended removals, and a judge has called off eviction hearings in Blaine County.Illinois: Gov. J.B. Pritzker has barred evictions through April 7 by executive order. Courts have ordered longer cessations of evictions, including in Cook County (April 15) and in Peoria, Tazewell, Marshall, Putnam, and Stark Counties (April 17). A court covering Kendall and DeKalb Counties has barred new eviction and foreclosure proceedings for 30 days beginning March 18. Chicago is providing 2,000 residents with $1,000 grants to help cover rent and mortgage payments.Indiana: Gov. Eric Holcomb has decreed an end to evictions or foreclosures until the end of his declared state of emergency.Iowa: Gov. Kim Reynolds has halted foreclosures and evictions for the duration of a declared state of emergency, except in cases involving squatters.Kansas: Gov. Laura Kelly has stayed evictions and foreclosures until May 1.Kentucky: Gov. Andy Beshear signed an executive order March 25 suspending all evictions for the term of a declared emergency, while the Kentucky Supreme Court suspended all evictions until April 10.Louisiana: Gov. John Bel Edwards has halted evictions and foreclosures.Maine: Maine courts are closed for eviction proceedings through May 1.Maryland: Gov. Larry Hogan has forbidden the eviction of any tenant who can demonstrate loss of income related to the crisis.Massachusetts: Trial courts are closed through April 21 under order of the State Supreme Judicial Court, preventing evictions from advancing. Gov. Charlie Baker has announced $5 million in rental assistance, while the mayor of Boston has called off evictions by the city housing authority.Michigan: Gov. Gretchen Whitmer has banned evictions until April 17, and the state Department of Health and Human Services is offering up to $2,000 in emergency assistance to prevent foreclosures.Minnesota: Gov. Tim Walz has suspended evictions and foreclosures during a declared state of emergency.Mississippi: No programs in place as of this writing.Missouri: No state programs in place as of this writing, but evictions are suspended in Jackson County until at least April 18, in Boone and Callaway Counties until April 17, and indefinitely in St. Louis County.Montana: No programs in place as of this writing.Nebraska: Gov. Ed Ricketts’ executive order has postponed all eviction proceedings for anybody impacted by the virus until May 31. The Omaha Housing Authority has called off evictions, while the Metro Omaha Property Owners Association—a landlord group—has requested its members reduce rents by 10 percent in the month of April.Nevada: Gov. Steve Sisolak has blocked all eviction notices, executions, and tenant lockouts via emergency order for the entire length of the pandemic. State Treasurer Zach Conine has announced that lenders have agreed to a 90-day grace period for borrowers, although each mortgagee must reach an individual payment arrangement with their bank.New Hampshire: Gov. Chris Sununu has barred evictions and foreclosures via executive order during the emergency.New Jersey: Gov. Phil Murphy signed an executive order March 19 placing a moratorium on evictions and foreclosures for at least 60 days. On March 28, he instated a 90-day grace period for late mortgage payments, forbidding banks from charging hard-up borrowers late fees or making negative reports on them to credit agencies.New Mexico: The State Supreme Court has indefinitely suspended evictions of tenants who can furnish evidence the crisis has left them unable to pay rent. Albuquerque has suspended evictions for public housing tenants, while Santa Fe has halted removal of those who can prove hardship.New York: Chief Administrative Judge Lawrence K. Marks has suspended all evictions until further notice, while Gov. Andrew Cuomo has ordered banks to waive mortgage payments in hardship cases for 90 days. There is no state policy in place on rent payments, despite the governor’s claim that he “took care” of the issue.North Carolina: State Supreme Court Chief Justice Cheri Beasley on March 13 ordered courts to postpone eviction and foreclosure cases for at least 30 days.North Dakota: The State Supreme Court has placed a hold on all eviction proceedings "until further order.”Ohio: Chief Justice Maureen O'Connor has requested, but not obligated, that lower courts stay eviction and foreclosure proceedings. Huntington, PNC, Fifth Third, Citizens, Third Federal, Chase, and Key Banks are all offering mortgage assistance to struggling borrowers.Oklahoma: No state policy in place as of this writing, but Tulsa County has halted evictions and foreclosures until April 15, while the Oklahoma County Sheriff's Office has suspended enforcement of housing ejectments until “appropriate.”Oregon: Gov. Kate Brown has suspended eviction for nonpayment of rent for 90 days beginning March 22.This Is What a Coronavirus Lockdown Means in Each StatePennsylvania: The state Supreme Court decreed March 18 that neither evictions nor foreclosures could go forward for at least two weeks.Puerto Rico: U.S. District Judge Gustavo A. Gelpí has suspended all eviction orders and foreclosure proceedings until May 30. The island's Public Housing Administration announced it will not collect rent from tenants until the expiration of Gov. Wanda Vasquez's order of social isolation—an order she recently extended to April 12. Residents of the government-owned developments will be liable for the payments after the governor's decree lifts, although they may apply for reductions based on loss of income.Rhode Island: Gov. Gina Raimondo ordered courts not to process evictions for 30 days starting March 19.South Carolina: Chief Justice Don Beatty has ordered a halt to all evictions until May 1.South Dakota: No state policies in place as of this writing, but Sioux Falls Mayor Paul TenHaken has established a fund to provide financial assistance to those facing eviction.Tennessee: The Tennessee Supreme Court has ordered judges not to proceed with eviction cases until April 30, unless "exceptional circumstances" prevail.Texas: The Texas Supreme Court halted all evictions until April 19, subject to an extension by the chief justice. A Dallas County judge has put a stop to new removal cases and landlord recoveries until May 17. The city of Austin passed an ordinance March 26 granting renters a 60-day grace period and preventing landlords from initiating evictions. Nonetheless, renters who can pay rent are encouraged to do so.Utah: No state policies in place as of this writing, but the Utah Apartment Association—a trade group— has generated a proposed “rent deferral agreement” for impacted tenants.Vermont: The Vermont Supreme Court has suspended non-emergency hearings such as evictions until April 15, but individual courts may hold such proceedings remotely. Burlington-based affordable housing operators Champlain Housing Trust, Burlington Housing Authority, and Cathedral Square have all committed to suspending evictions.Virginia: The Virginia Supreme Court has suspended non-essential, non-emergency proceedings such as evictions and foreclosures until April 6.Washington State: Gov. Jay Inslee inked a 30-day eviction moratorium on March 18. Seattle has imposed a 60-day moratorium on evictions beginning March 3, with no late fees, and the King County Sheriff has suspended evictions "until further notice.”Washington, D.C.: The D.C. Superior Court has suspended evictions and foreclosures.West Virginia: The State Supreme Court has suspended all non-emergency proceedings, including housing-related matters, until April 10, and left open the possibility of extension.Wisconsin: Gov. Tony Evers ordered the suspension of evictions and foreclosures until May 26. Judges in Dane and Milwaukee counties have forbidden sheriffs from executing outstanding eviction orders, and the Milwaukee Housing Authority has said it will not evict anybody during the crisis.Wyoming: State Supreme Court Justice Michael K. Davis has ordered all in-person proceedings suspended, and recommended civil trials be rescheduled, which could serve to delay evictions or foreclosures. But local judges have some discretion on whether to conduct trials via video or teleconference.Read more at The Daily Beast.Got a tip? Send it to The Daily Beast hereGet our top stories in your inbox every day. Sign up now!Daily Beast Membership: Beast Inside goes deeper on the stories that matter to you. Learn more.
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Israeli police with face masks and batons and backed by surveillance helicopters have stepped up patrols of ultra-Orthodox Jewish neighbourhoods that have become coronavirus hotspots. This week has seen tense altercations, and some rabbis have admitted that their communities, where prayer and scripture study are traditionally communal, are not observing new social distancing regulations. A few days ago in Bnei Brak, a city near Tel Aviv with a largely ultra-Orthodox population, hundreds of faithful crowded together to attend the funeral of prominent rabbi Tzi Shenkar.
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The Justice Department inspector general said it does “not have confidence” in the FBI’s FISA application process following an audit that found the Bureau was not sufficiently transparent with the court in 29 applications from 2014 to 2019, all of which included “apparent errors or inadequately supported facts.”Inspector General Michael Horowitz released a report in December which found that the FBI included “at least 17 significant errors or omissions in the Carter Page FISA applications and many errors in the Woods Procedures” during its Crossfire Hurricane investigation of the 2016 Trump campaign. After releasing the report, Horowitz said that he would conduct a further investigation to see if the errors identified in the Page application were widespread.“The concern is that this is such a high-profile, important case. If it happened here, is this indicative of a wider problem — and we will only know that when we complete our audit — or is it isolated to this event?” Horowitz told lawmakers during a Senate Homeland Security and Governmental Affairs Committee hearing. “Obviously, we need to do the work to understand that.”Horowitz’s office said in a report released Tuesday that of the 29 applications — all of which involved U.S. citizens – that were pulled from “8 FBI field offices of varying sizes,” the FBI could not find Woods Files for four of the applications, while the other 25 all had “apparent errors or inadequately supported facts.”"While our review of these issues and follow-up with case agents is still ongoing—and we have not made materiality judgments for these or other errors or concerns we identified—at this time we have identified an average of about 20 issues per application reviewed, with a high of approximately 65 issues in one application and less than 5 issues in another application," the report reveals.The Woods Procedure dictates that the Justice Department verify the accuracy and provide evidentiary support for all facts stated in its FISA application. The FBI is required to share with the FISA Court all relevant information compiled in the Woods File when applying for a surveillance warrant.“FBI and NSD officials we interviewed indicated to us that there were no efforts by the FBI to use existing FBI and NSD oversight mechanisms to perform comprehensive, strategic assessments of the efficacy of the Woods Procedures or FISA accuracy, to include identifying the need for enhancements to training and improvements in the process, or increased accountability measures,” the report states.The OIG concludes by recommending that the FBI "systematically and regularly examine the results of past and future accuracy reviews to identify patterns or trends in identified errors" relating to the Woods Procedure, as well as double-checking "that Woods Files exist for every FISA application submitted to the FISC in all pending investigations."In a letter acknowledging the audit, FBI Associate Deputy Director Paul Abbate said that the issues "will be addressed" by the Bureau's already-issued correctives after the Carter Page review, and added that "the FBI fully accepts the two recommendations."President Trump has relentlessly attacked the FBI's FISA process and the abuses it allowed during the surveilling of his 2016 campaign. He has argued that the FISA abuses invalidate the entire investigation, which he has referred to as an “illegal attempted coup,” and slammed the officials involved, including former FBI director James Comey and former acting FBI director Andy McCabe.McCabe admitted in January that the FBI has an “inherent weakness in the process” of obtaining FISA warrants.
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Donald Trump has branded House speaker Nancy Pelosi “a sick puppy” during an interview with Fox and Friends after extending the timeline for the US to remain in lockdown over the coronavirus pandemic until at least 30 April, abandoning his “aspiration” to have the country back in business by Easter.The White House’s top infectious disease expert, Dr Anthony Fauci, has meanwhile warned that his projection of a potential 100,000 to 200,000 American deaths is “entirely conceivable” if not enough is done to mitigate the crisis, with the president commenting that containing the disaster to that level would represent “a very good job”.
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Back in February, a Siena College poll showed that only 44 percent of New Yorkers viewed their Gov. Andrew Cuomo (D) favorably. Then, the coronavirus pandemic hit.Cuomo has received widespread praise for his calm, cool, and collected approach as he guides the country's epicenter through the COVID-19 outbreak, and his constituents are on the bandwagon, as well. In March, Cuomo's favorability rating spiked to 71 percent, which is the highest it's been since he was first elected governor in 2011.> To whom it may concern: > If you would like to see an actual polling bump for handling a crisis well, see this morning’s @SienaResearch poll of NY voters: pic.twitter.com/nhK9d2IoGD> > — Nick Gourevitch (@nickgourevitch) March 30, 2020There's still a partisan split, but even Republicans in the state have shown some appreciation, as more than twice as many GOP voters approve of Cuomo now than last month.> Cuomo favorable bump: > Overall: 44% favorable in February->71% favorable now (+27) > Among Republicans: 20%->42% (+22) > Among Independents: 35%->68% (+33) > Among Democrats: 59%->87% (+28)> > — Nick Gourevitch (@nickgourevitch) March 30, 2020Cuomo's numbers are even better when it just boils down to his coronavirus response, which has garnered an 87 percent satisfaction rate.The spike makes sense — as former Vice President Joe Biden noted Sunday, Americans historically tend to rally around presidents during times of crisis, and there's no reason to think that wouldn't be the same for governors.Siena College surveyed 566 registered New York voters between March 22 and 26. The poll has a margin of error of plus or minus 4.5 percentage points. Read more here.More stories from theweek.com Trump's message to blue states battling coronavirus: Drop dead Fox News reportedly fears its early downplaying of COVID-19 leaves it open to lawsuits Nobody knows when Congress will go back to D.C.
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In late November 2018, just over a year before the first coronavirus case was identified in Wuhan, China, U.S. Customs and Border Protection agents at Detroit Metro Airport stopped a Chinese biologist with three vials labeled “Antibodies” in his luggage.
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Meet the Press anchor Chuck Todd drew the ire of MAGA world on Sunday morning when he asked presumptive Democratic presidential nominee Joe Biden if he believes President Donald Trump has “blood” on his hands due to his slow response on the coronavirus pandemic.After Biden offered up his recommendations for how the Trump administration should handle the growing crisis—including a more robust use of the Defense Production Act and increased urgency in providing life-saving medical supplies to health workers—the ex-veep criticized Trump for not acting fast enough.“If I see something that’s not happening, I think it’s my obligation to step up and say ‘this is what we should be doing,’” Biden said. “Look, the coronavirus is not the president’s fault. But the slow response, the failure to get going right away, the inability to do the things that needed to be done quickly, they are things that shouldn’t—they can’t continue.”Todd, meanwhile, wondered aloud if Biden slamming the president for being “behind the curve” meant that he felt that Trump might be responsible for the rising death toll in the United States. (As of publication, per Johns Hopkins Coronavirus Resource Center, there have been 2,197 American deaths from the virus. The nation’s top infectious disease expert, for his part, projects the death toll could hit 200,000 in the U.S.)“Do you think there is blood on the president’s hands considering the slow response?” Todd asked. “Or is that too harsh of a criticism?”Biden immediately replied that he felt that was a “little too harsh” before taking Trump to task for “thinking out loud” too often.“He should start listening to the scientists before he speaks,” the ex-veep added. “He should listen to the health experts. He should listen to his economists.”It didn’t take long for Todd to come under fire from the president’s supporters after clips of his question began making the rounds on social media Sunday morning. Republican National Committee rapid response director Steve Guest tweeted a video of the Meet the Press segment while calling Todd’s question “COMPLETELY UNHINGED,” adding that the NBC News anchor’s attacks were “too much for even Biden.” Other conservative media figures like Benny Johnson, a serial plagiarist who currently makes memes for a pro-Trump campus group, called the question “rage-inducing media gaslighting” while touting Trump’s partial China travel ban as proof the president acted quickly.Read more at The Daily Beast.Got a tip? Send it to The Daily Beast hereGet our top stories in your inbox every day. Sign up now!Daily Beast Membership: Beast Inside goes deeper on the stories that matter to you. Learn more.
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Speaking at a makeshift hospital in Manhattan preparing to receive its first patients on Monday, Cuomo sought to divert attention from any tension with Trump, with whom he has tussled in recent days over the distribution of ventilators in storage. "I am not engaging the president in politics," said Cuomo, who has emerged as a leading national voice on the coronavirus pandemic. New York is at the epicenter of the crisis.
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(Bloomberg) -- The Kremlin’s sudden shift of ownership of multi-billion-dollar oil projects in Venezuela shields oil giant Rosneft PJSC from further U.S. sanctions but keeps Moscow firmly behind embattled President Nicolas Maduro amid a wider stand-off with Washington.“Russia is not walking away from Maduro and will seek to thwart U.S. efforts to depose him,” said Vladimir Frolov, a former diplomat and foreign policy analyst in Moscow. “Moscow is just shielding Rosneft from sanctions which could result in a blanket embargo on all Rosneft exports.”Fears of broader sanctions have grown after the U.S. in recent months slapped restrictions on Rosneft trading companies for handling business with Venezuela. More recently, the U.S. has hinted that it might step up pressure on the Russian oil sector to reduce production. That followed Moscow’s decision early this month not to deepen output cuts agreed with OPEC led Saudi Arabia to boost output, flooding the market and pushing prices to the lowest levels in decades.The administration of President Donald Trump has already reached out to Saudi leaders to reconsider their strategy, which has battered producers in the U.S. with low prices. Trump said Monday he plans to speak by phone with Putin later in the day to talk about the oil market and may discuss sanctions and Venezuela.Read: Putin and MBS Draw Trump Into Grudge Match for Oil SupremacyRosneft late Saturday announced it’s turning over its Venezuelan projects to an unnamed state-owned company in what it called an effort to protect its shareholders’ interests.Sechin AutonomyAs part of the deal, Rosneft gets 9.6% of its own shares previously held by state holding company Rosneftegaz, bringing direct government ownership to just over 40%, according to two people familiar with the transaction. While Rosneft will remain firmly under Kremlin control, the shift in ownership could give Igor Sechin, who as chief executive and a longtime Putin ally is already one of Russia’s most influential people, even more autonomy, these people said.“Sechin gets Rosneft shares and Putin gets the chance to trade with Trump,” said Konstantin Simonov, head of the National Energy Security Fund in Moscow.Neither the company nor the government would comment on whether the deal will bring state ownership below 50%.Rosneft, which produces 40% of Russian oil and 5% of world output and has substantial exposure in the western financial system, can’t afford the risk of broad U.S. sanctions that could cripple its operations. Earlier this month, a Chinese company said it wouldn’t buy crude from Rosneft because of the risks caused by the sanctions on the trading companies.“As recently as February, the Venezuelan business was profitable, which offset the sanctions risk,” said Ivan Timofeyev, an analyst at the Kremlin-founded Russian International Affairs Council. “Now the desire to avoid sanctions coincided with the need to avoid losses” after oil prices plunged, he added.The Russian giant has already cut its exposure under multi-billion-dollar prepayment deals reached several years ago. Venezuela’s oil producer PDVSA owes Rosneft only $800 million at the end of the third quarter of 2019, according to the last available data, down from $4.6 billion at the end of 2017.Sanctions ProtectionThe latest Russian maneuver mirrored its strategy in 2018 when it used Promsvzyabank to set up a new banking vehicle to serve the defense industry after state-owned weapons producers came under U.S. sanctions, thereby shielding the country’s two largest banks, government-controlled Sberbank and VTB. Unlike those big lenders, which have significant exposure to western financial institutions and thus are at risk from sweeping U.S. sanctions, the new special entity operated largely out of Washington’s reach.While Rosneft may even push to have the recently imposed sanctions on the trading units lifted, risks remain.“Rosneft is trying to stay out of the firing-line but nothing stops the Americans from finding another pretext to sanction it,” said Fyodor Lukyanov, who heads the Council on Foreign and Defense Policy, a research group in Moscow that advises the Kremlin.“Russia understands that Maduro is in an awful situation, especially with oil prices at rock bottom,” he said. “But Putin’s psychology is that you should stick with partners in difficulty.”Frolov said, “Moscow thinks that Maduro is actually winning the fight with the opposition and is likely to split it to the point where he would be able to win parliamentary elections this year.” Russia has backed Maduro even as the U.S. and its allies back opposition leader Juan Guaido.Maduro said on state TV on Saturday evening that ”President Putin sent me a message through his ambassador reaffirming their strategic and integral support to Venezuela in all areas.”(Updates with Rosneft stake shift in sixth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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Prisoners in southern Iran broke cameras and caused other damage during a riot, state media reported Monday, the latest in a series of violent prison disturbances in the country, which is battling the most severe coronavirus outbreak in the Middle East. Israel meanwhile announced that Prime Minister Benjamin Netanyahu will enter self-quarantine after an aide tested positive for the virus. Speaking from confinement at home, Netanyahu called on Israelis to remain at home and avoid family gatherings during the upcoming spring holiday season.
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Researchers in the US and China reported Monday they have developed an artificial intelligence tool that is able to accurately predict which newly infected patients with the novel coronavirus go on to develop severe lung disease. Once deployed, the algorithm could assist doctors in making choices about where to prioritize care in resource-stretched health care systems, said Megan Coffee, a physician and professor at New York University's Grossman School of Medicine who co-authored a paper on the finding in the journal Computers, Materials & Continua. The tool discovered several surprising indicators that were most strongly predictive of who went on to develop so-called acute respiratory disease syndrome (ARDS), a severe complication of the COVID-19 illness that fills the lungs with fluid and kills around 50 percent of coronavirus patients who get it.
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Saudi Arabia halted entry and exit into Jeddah governorate on Sunday, expanding lockdown rules as it reported four new deaths from a coronavirus outbreak that continues to spread in the region despite drastic measures to contain it. The Saudi health ministry said four more foreign residents, in Jeddah and Medina, had died from the virus, taking the total to eight. Oman, Kuwait and Bahrain reported more cases, taking the total in the six Gulf Arab countries to over 3,200, with 15 deaths.
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People still sit at outdoor cafes in the center of Sweden's capital. Swedish authorities have advised the public to practice social distancing and to work from home, if possible, and urged those over age 70 to self-isolate as a precaution. Standing at bars has been banned in Sweden, but restaurant customers can still be served at tables instead of having to take food to go.
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China sent a plane loaded with medical personnel and supplies Saturday to help Pakistan fight the spread of the coronavirus in one of the world's most populous nations. In Iran, which is battling the worst outbreak in the region, state TV said Saturday another 139 people had died from the virus. China has sought to portray itself as a global leader in the fight against the outbreak, which began a few months ago in its Wuhan province.
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