Rivals trade fire leaves three dead in Bannu

BANNU: Three persons were killed in firing on Sunday here, Geo News reported.

Police said that three persons were killed as the two rival groups traded fire at Township here. The accused after firing fled away from the scene of incident, police said.

Police have started the investigations.

Oil prices rebound in Asian trade

SINGAPORE: Oil prices rebounded in Asian trade Thursday as heightened tensions in Ukraine overshadowed data showing US commercial crude inventories reaching an all-time high.

New York´s West Texas Intermediate for June delivery, was up 30 cents at $101.74 a barrel in afternoon trade, and Brent North Sea crude for June rose 24 cents to $109.35.Both contracts tumbled Wednesday on the US stockpiles data, which indicate softer demand at a time of robust production in the world´s biggest oil consuming nation.

Stocks rose 3.5 million barrels to 397.7 million for the week ended April 18, official figures showed, larger than the 2.4 million expected by analysts.

"While key economic data from US and Europe will be released this week, oil markets will continue to be influenced by geopolitical events," said Sanjeev Gupta, who heads the Asia-Pacific Oil & Gas practice at professional services firm EY.

In Eastern Europe an agreement between Ukraine, Russia and Western powers in Geneva last week to pull the country from the brink of civil war appeared shaky after a gunfight on Sunday killed at least two pro-Moscow rebels.

On Wednesday, Russia hinted it will strike back if its "legitimate interests" in the former Soviet state are attacked after Kiev sent in forces to dislodge militants who have occupied government buildings there.

Oil prices mixed in Asian trade

SINGAPORE: Oil prices were mixed in Asian trade Thursday as dealers weighed lingering concerns over the Ukraine crisis with a weaker-than-expected US stockpiles report, analysts said.

New York´s main contract, West Texas Intermediate for May delivery, was up 23 cents at $103.99 in mid-morning trade and Brent North Sea crude for June eased seven cents to $109.53.Singapore-based Phillip Futures said events in Eastern Europe continued "to peg crude prices at elevated levels" ahead of Geneva talks on Thursday between Ukraine, Russia, the European Union and Washington.

Foreign ministers involved in the talks will seek to diffuse the tense situation in the east of the country, where government forces trying to reassert control have faced pro-Russian resistance.

Traders fear that any full-scale armed conflict in the region will disrupt supplies and send oil and gas prices rocketing because Ukraine is a major conduit for Russian gas to western Europe.

A failure of Thursday´s talks could result in another round of sanctions against Russia.

Pakistan offers free trade accord to S Korea

 

ISLAMABAD: Prime Minister Nawaz Sharif on Monday offered South Korea a Free Trade Agreement (FTA) and strategic business partnership for the next three years and expressed the resolve that the South Korean investors would be provided with all the facilities in Pakistan.
Prime Minister Nawaz Sharif extended these commitments during a meeting with the Republic of Korea Prime Minister Chung Hongwon, who called on him along with a high-level delegation at the PM House.

Nawaz Sharif said that Pakistan was happy to witness the progress and development of the Republic of Korea and they were interested to learn from the Korean experience.

“Moreover, the two governments must promote interaction and cooperation between their private sectors and regular interaction between the respective Boards of Investment and chambers of commerce and industry,” he added.

While discussing the economic prospects, he said that it was heartening to note that the trade between the two countries had reached $1.6 billion in 2012. “Pakistan has proposed a comprehensive Free Trade Agreement (FTA) that covers trade, investment and services so that trade between the two countries could be further enhanced,” he added.

Nawaz Sharif appreciated the ‘Joint Business Forum’ organised by KOTRA (Korea Trade Investment Promotion Agency) and Board of Investment, Pakistan, on the sidelines of this visit and expressed the hope that as an outcome of the Business Forum, the Korean companies would be engaged in energy, infrastructure development, railways and telecommunication sectors. He stressed for preparing a Country Partnership Strategy between the two countries for the next three years (2013-15). “The Lahore- Islamabad Motorway bears testimony to the mutually beneficial cooperation between the two countries and we want to replicate and enhance such cooperation in other fields,” he added.

Nawaz Sharif said that Pakistan offered huge opportunities to the Korean business companies in energy generation, including hydel, wind, solar, biomass and coal generation and Pakistan would appreciate if the Korean companies participated in initiatives such as the Gadani Power Park and Quaid-e-Azam Solar Park. He said that construction of offshore and onshore LNG terminals also offered investment opportunities to Korean companies and Pakistan would welcome and facilitate Korean capital and technology in these sectors.

He said that the Free Economic Zone, along with the Pak-China Economic Corridor, also offered investment opportunities to Korean investors. “In this Economic Zone, Korean SMEs can establish JVs in manufacturing sector to cater for a large and growing domestic market as well as Korean and regional markets,” he added.

He invited Korean financial institutions to start their operations in Pakistan adding that opening of a branch of a Korean bank in Pakistan would boost business between the two countries.

Cooperation in science and technology, bio-engineering, information technology and exchange of human resources and other areas of common interest with Korea were also discussed. The PM thanked the Korean government for looking after 900 Pakistani students and expressed the hope for increasing scholarships being offered to Pakistani students.

The Korean prime minister thanked PM Nawaz Sharif, the government and the people of Pakistan for extending a warm welcome during his visit. Chung Hongwon said that Pakistan and Korea should expand their trade, economy and energy sectors and enhance the bilateral relations by increasing personnel exchanges in the private sector. Views were also exchanged on regional and international issues.

Earlier, the two prime ministers witnessed the signing of three MOUs between Pakistan and Korea on trade, industry and energy. The MOUs were signed by Muhammad Shahzad Arbab, Secretary Commerce from Pakistani side, and Han Jinhun, Vice Minister for Trade and Energy from the Korean side.

Before the delegation-level talks, the two premiers held one-on-one meeting. While welcoming the Korean PM, Nawaz Sharif said, “We are very happy to host you as the first-ever Korean prime minister to visit Pakistan since the establishment of our diplomatic relations 31 years ago. It is my government’s resolve to strengthen and expand the relations with the Republic of Korea in all fields,” he added. He said that the traditional cordial relationship between Pakistan and the Republic of Korea needed to be transformed into a substantive partnership in trade, investment, energy and infrastructure.

Later, the PM hosted a lunch in the honour of the visiting delegation. Dr Song Jong-hwan, Korean Ambassador to Pakistan, Cho Taeyul, Vice Minister for Foreign Affairs, Han Jinhyun, Vice Minister for Trade and Energy from the Chinese side, and Engineer Khurram Dastagir, Minister for Commerce, Ahsan Iqbal, Minister for Planning, Sartaj Aziz, Adviser to PM on Foreign Affairs and National Security, Syed Tariq Fatmi, Special Assistant to PM from the Pakistani side, attended the meeting.

Tokyo stocks fall nearly 3 percent in opening trade

TOKYO: Tokyo stocks lost nearly three percent in opening trade Friday, after New York shares suffered big losses on concerns about the valuations of high-flying technology companies.

The Nikkei 225 index lost 2.88 percent, or 411.32 points, to 13,888.80 in the first few minutes of trade.

"Japan stocks will fall in sympathy (Friday) with their overseas counterparts and there is increasing anxiety about a broader pullback in US shares after such a long run-up," said Tokai Tokyo Research Center senior global strategist Mutsumi Kagawa.

Anxiety about pricey technology stocks returned with a vengeance to Wall Street Thursday, sending the Nasdaq down more than 3.0 percent and sparking deep declines in the broader stock market.

The tech-rich Nasdaq Composite Index tumbled 3.10 percent to 4,054.11, the biggest single-day drop in percentage terms since November 2011.

The Dow Jones Industrial Average sank 1.62 percent to 16,170.22, while the broad-based S&P 500 fell 2.09 percent to 1,833.08.

The dollar weakened on Thursday as traders digested Federal Reserve signals suggesting that interest rates would be unlikely to rise any time soon.

The dollar was at 101.38 yen early Friday, hardly changed from 101.44 yen in New York Thursday afternoon but down from 101.81 yen in Tokyo earlier Thursday.

The euro slipped to 140.80 yen from 140.88 yen in US trade while buying $1.3885 compared with $1.3888.

Oil prices rise in Asian trade

SINGAPORE: Oil prices rose in Asian trade Tuesday on renewed fears about Ukraine after pro-Russian protesters seized government buildings in the eastern city of Donetsk.

New York´s main contract West Texas Intermediate (WTI) for May delivery rose 46 cents to $100.90 a barrel in mid-morning trade and Brent North Sea crude for May gained 31 cents to $106.13

Oil prices ease in Asian trade

SINGAPORE: Crude prices dropped in Asian trade Monday after rebels agreed to reopen two of the four blockaded oil terminals in eastern Libya, analysts said.

New York´s main contract West Texas Intermediate (WTI) for May delivery dropped 26 cents to $100.88 a barrel in mid-morning trade and Brent North Sea crude for May slid 82 cents to $105.90.

Oil prices mixed in Asian trade

SINGAPORE: Oil prices were mixed in subdued Asian trade Friday as dealers stood on the sidelines bracing for the release of a key US jobs report, analysts said.

New York´s West Texas Intermediate for May delivery rose four cents to $100.33 a barrel in mid-morning trade while Brent North Sea crude for May was down two cents at $106.13.

Oil prices mixed in Asian trade

SINGAPORE: Oil prices were mixed in Asian trade Thursday as investors weighed a surprisingly robust US stockpiles report with an expected return of Libyan supply after a months-long disruption in exports, analysts said.

New York´s West Texas Intermediate for May delivery eased 21 cents to $99.41 a barrel in mid-morning trade and Brent North Sea crude for May was up 12 cents at $104.91.

"There is some downward pressure from the Libyan side," Tan Chee Tat, investment analyst at Phillip Futures in Singapore, told AFP.

Tan said investors are digesting reports that the North African state, a member of oil producing cartel OPEC, may be close to reaching a deal with rebels who have blockaded oil terminals since July.

"This would release about 600,000 barrels of crude per day into the market," he said. Libyan exports have dwindled to around 250,000 barrels a day from 1.5 million following the blockade, initially sparked by protesters demanding jobs.

Negative sentiment over the prospective surge in global supply was however pared by an upbeat US stockpiles data that confounded market expectations.

The US Energy Information Administration said Wednesday American crude inventories slid 2.4 million barrels in the week to March 28, contrary to analyst expectations for a gain of 700,000 barrels.

The latest figures suggest higher demand in the world´s top crude consumer, though the figures may have been distorted by a transport bottleneck after an oil spill shut down a key Texas coast channel last week.

Tan said investors will next be closely watching US jobless claims figures out later Thursday for clues about the strength of recovery in the US economy.

PM dumps MFN, trade with India on FO’s advice

 

ISLAMABAD: Prime Minister Nawaz Sharif for the first time took a major policy decision on the recommendations of the Ministry of Foreign Affairs when he declined to award Non-Discriminatory Market Access (NDMA) to the present Congress-led government in New Delhi and also put a halt to the announcement of a major new trade policy till a new elected government was in place in India.
Sharif made this announcement on his recent visit to The Hague citing ‘lack of consensus’. “We also deferred this due to the elections in India because we did not want to favour a single political party in India,” he said.

Commerce Minister Ghulam Dastagir also echoed the same in Lahore, at a time when reports speculated that there was little chance of the Congress winning next month’s elections.Prime Minister Manmohan Singh’s reluctance to visit Pakistan has also not helped matters with the Sharif government, which is clearly disappointed.

“The Foreign Office has for quite some time now advised the government in writing that it would not be prudent for Pakistan to give such a major political concession to the present Indian government which is on its way out, and instead give this concession to the incoming one. The prime minister finally agreed, though initially he opposed this advice,” diplomatic sources told The News.

Many in the Foreign Office say that they heard about Sharif’s decision from the media as it was not officially shared with them.

Earlier, Ansar Abbasi, Editor Investigations, The News, had in a report said that the government was urged to “move cautiously” so as to avoid criticism from the new government in New Delhi.

Political circles in New Delhi told The News had Pakistan and India agreed to announce the new trade policy, the sitting Indian government would have been compelled to approach the Chief Election Commissioner (CEC).

“Once the CEC announces the schedule for the Lok Sabha elections, the present government cannot take any new policy decisions without informing the CEC. On the Indian side also, a stumbling block had occurred,” was the view in New Delhi.

The Times of India, while quoting official sources, said, “The several recent flip flops made by the Nawaz Sharif government on the issue have greatly reduced its credibility with Indian negotiators who have concluded that in addition to political and security policy, the Pakistan government does not even have the ability to go against the Pakistan military dictates on issues related to economic reforms.”

However, The News understands that the General Headquarters was on the same page with the Sharif government and was not discouraging the government in its trade overtures with India as was being reported by the local media.

In fact, the spokesperson at the Foreign Office on many occasions had clearly stated that “everyone was on board” but did not admit that it was the ministry itself which was cautioning the government.

A senior diplomat put it this way: “When the Foreign Office advises the government, it has already done its homework by consulting various ministries and the civil and military bureaucracy for their views. It is not fair to say that there was a strong opposition from the army headquarters to improving the trade ties. Even the military recognises the benefits that trading with our eastern neighbour will bring in to our economy.”

However, last month the spokesperson had said, “This is not correct that Foreign Office is opposing it. It is a decision that the Government of Pakistan takes after consultation with all stakeholders.”

India, it appears, had more or less agreed to all the requests on the new trade policy from Pakistan, except jump starting the Composite Dialogue which Islamabad knows Delhi would not agree to.

A view being shared from India says that even its National Security Adviser, an old Pakistan hand, feels that Pakistan State’s capacity to deliver is limited. For the time being, New Delhi is keen on a ‘step-by-step approach’ for repairing the bilateral ties, which includes normalising the trade followed by people-to-people contacts while Kashmir is put on the backburner with demand on delivering on terrorism still the main condition for any movement forward.For the time being, Islamabad has pulled the rug from under the feet of Manmohan Singh’s government and in doing so has robbed his government of the NDMA status.

No harm in increasing trade with India

LAHORE: There is no harm to increase trade with India but all the stakeholders of the private sectors should be taken into confidence before taking any decision while trade with India through third routes should be discouraged. These views were expressed by speakers at the Jang Economic Session on ‘Increase in Pakistan-India Trade-Chances and Concerns’ on Thursday.

Iftikhar Ali Malik said the importance of regional blocks could not be ignored for economic development and there was no harm to increase trade between Pakistan and India. He said the increase in trade would provide marker access to Pakistan in India and India would reach Central Asian States. However, he said Pakistani businesses were unable to get market access to India due to NTBs and measures, so trust in India was inevitable. He said all the trade routes should be opened for trade with India. He believed that growth in bilateral trade was only possible when the trust deficit between the two countries reduced.

Tanzeem Hussain Naqvi said that tariff should be fixed before importing electricity from India and then moved forward in order to abridge the shortage of it in coming summer. He believed that electricity shortfall would not end with the import of 1000 mega watt from India. He forecasted that troubles for energy sector would increase after the import of electricity from India.

Javeed Kiyani said the sugar industry had many apprehensions on trade with India, as it was not taken on board. He said that non-existence of discriminatory and unfair behaviours should be the condition for bilateral trade with India. He said farmers’ apprehensions should be addressed first, as economic growth was impossible with personal interest decisions. He went on saying that Pakistan had been passing through a critical economic situation and in this condition army and people should be taken into confidence before making decision.

Tariq Bucha said agriculture sector was not against the trade with India but supported economic growth of Pakistan but did not trust in government’s ongoing talks on bilateral trade. He said agriculture sector wanted the government to address its apprehensions so that farmers could also prosper. He believed that separate trade agreement was required for trade. He said trade with India should be discouraged until agreement would be made on agriculture sector.

Saad Akbar Khan said the agro-chemical industry had no threat from Indian products under bilateral trade rather it would give a new market to Pakistani industry. However, he demanded subsidy for agro-chemical industry. He said negotiation process in Pakistan was very weak.

Tehmena Ijaz said the bilateral trade with India should be promoted only on positive impacts and gains. He said trade relations should not be increased on friendly ties. She said economic condition of Pakistan was not good and potential existed in technology and agriculture sector. The panelists were Iftikhar Ali Malik, Tanzeem Hussain Naqvi, Javeed Kiyani, Tariq Bucha, Saad Akbar Khan and Tehmena Ijaz while the session was hosted by Sikandar Hameed Lodhi.

Cotton market: prices firm on modest trade

Steadier trend was seen on the cotton market on Friday in the process of modest trading, dealers said. The official spot rate was unchanged at Rs 6,850, they added. Prices of seed cotton in Sindh per 40 kg were inert at Rs 2500-3200, in Punjab, rates also retained overnight levels at Rs 2500-3300, dealers said. In the ready session, over 600 bales of cotton changed hands between Rs 6900-7000, dealers said.

Main participants were on the sidelines to observe the latest situation, cotton analyst, Naseem Usman said. Prices of local yarn are falling as buyers were taking interest in purchasing of Indian yarn. The value-added sector is in favour of import of yarn from Indian but the textile spinners were demanding tax on import, brokers said.

Reuters adds: cotton futures shot to their highest since August on Thursday on a late burst of buying as rumours circulated that China has issued new import quotas and strong export sales reinforced hopes that the US surplus will shrink more than many expected.

In its best daily performance since June last year, the benchmark May cotton contract on ICE Futures US closed up 2.85 cents, or 3.24 percent, at 90.71 cents a lb. Most of the day's gains and turnover were in the final hour of trade, in part due to technical buying after prices pierced the psychologically key 90-cent mark and short covering. Prices jumped to as high as 90.80 cents, its loftiest since August last year. Volumes were decent with over 23,000 lots of May contract changing hands. The following deals were reported: 200 bales from Haroonabad sold at Rs 6900 and 400 bales from Lodhran at Rs 7000, they said.

=========================================================================== The KCA Official Spot Rate for Local Dealings in Pak Rupees --------------------------------------------------------------------------- FOR BASE GRADE 3 STAPLE LENGTH 1-1/32" ---------------------------------------------------------------------------MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL =========================================================================== Rate Ex-Gin Upcountry Spot Rate Spot Rate DifferenceFor Price Ex-Karachi Ex. KHI. As Ex-Karachion 06.03.2014 =========================================================================== 37.324 Kgs 6,850 155 7,005 7,005 NIL --------------------------------------------------------------------------- Equivalent --------------------------------------------------------------------------- 40 Kgs 7,341 155 7,496 7,496 NIL ===========================================================================

Trade issues with Russia to be resolved on priority: Dar

ISLAMABAD: Federal Minister for Finance Senator Mohammad Ishaq Dar said on Wednesday that the political leadership has expressed its resolve to overcome trade issues with Russia and take forward bilateral trade relations.

He was chairing a meeting of the Committee, formed by the Prime Minister to resolve longstanding trade issues between Pakistan and Russia here at the Finance Ministry.

The Finance Minister expressed his desire for expeditious removal of the impasse which is hampering trade relations between the two countries.

He said that there are positive vibes from Russian side for investment in railways and steel manufacturing industry.

He emphasized that "we need to move on fast track for resolution of this outstanding financial dispute, enabling Russian investors to bring in their capital to Pakistan and explore the areas in which they can help."

Secretary Commerce, Qasim Niaz briefed the Committee that there is a lot of potential in enhancing trade relations between the two countries.

He said that as directed by the Prime Minister, the Commerce Ministry is trying its level best for resolving the 15 years old trade related financial disputes.

He said "we are engaged with all the stakeholders including Russian Government and trade community of Pakistan to facilitate the process of resolution of outstanding issue".

He informed the Committee that the parties to the dispute have expressed their inclination for early settlement of the dispute.

The Finance Minister directed Secretary Commerce, Chairman BOI, SA to PM to hold meeting with the stakeholders and present final report before the Committee within a week.

The meeting was also participated by Minister for Commerce Khurram Dastagir Khan, Special Assistant to the Prime Minister on Foreign Affairs, Tariq Fatmi, Dr. Waqar Masood, Finance Secretary, Advisor to Finance Ministry, Rana Assad Amin and senior officials of the Ministry of Finance.

Meeting reviews bilateral trade ties with US

ISLAMABAD: Federal Finance Minister Senator Mohammad Ishaq Dar chaired a meeting to review bilateral economic and trade related matters between Pakistan and United States here at the Finance Ministry on Wednesday.

Secretary Commerce Qasim Niaz briefed the Finance Minister on current status of the Pak-US Strategic Dialogue on expansion of trade relations.

He informed the Finance Minister that with the resumption of strategic dialogue, the opportunities are available for expansion in trade relations between the two countries.

He informed the Finance Minister that Commerce Ministry, in consultation with the Ministry of Foreign Affairs, is preparing proposals, for the next round of trade talks with the US.

The Finance Minister said that the US is an important trade partner of Pakistan and all avenues should be explored in order to accrue maximum opportunities and benefits for Pakistan exporters.

He said that "as the US is largest importer of textile products therefore, we should also lay special focus on textile and textile related exports."

Minister for Commerce, Khurram Dastagir, Miftah Ismail, Chairman BOI, SA to PM Tariq Fatmi, Advisor to Finance Ministry Rana Assad Amin and senior officials of the government also attended the meeting.

Trade issues with Russia to be resolved on priority: Dar

ISLAMABAD: Federal Minister for Finance Senator Mohammad Ishaq Dar said on Wednesday that the political leadership has expressed its resolve to overcome trade issues with Russia and take forward bilateral trade relations.

He was chairing a meeting of the Committee, formed by the Prime Minister to resolve longstanding trade issues between Pakistan and Russia here at the Finance Ministry.

The Finance Minister expressed his desire for expeditious removal of the impasse which is hampering trade relations between the two countries.

He said that there are positive vibes from Russian side for investment in railways and steel manufacturing industry.

He emphasized that "we need to move on fast track for resolution of this outstanding financial dispute, enabling Russian investors to bring in their capital to Pakistan and explore the areas in which they can help."

Secretary Commerce, Qasim Niaz briefed the Committee that there is a lot of potential in enhancing trade relations between the two countries.

He said that as directed by the Prime Minister, the Commerce Ministry is trying its level best for resolving the 15 years old trade related financial disputes.

He said "we are engaged with all the stakeholders including Russian Government and trade community of Pakistan to facilitate the process of resolution of outstanding issue".

He informed the Committee that the parties to the dispute have expressed their inclination for early settlement of the dispute.

The Finance Minister directed Secretary Commerce, Chairman BOI, SA to PM to hold meeting with the stakeholders and present final report before the Committee within a week.

The meeting was also participated by Minister for Commerce Khurram Dastagir Khan, Special Assistant to the Prime Minister on Foreign Affairs, Tariq Fatmi, Dr. Waqar Masood, Finance Secretary, Advisor to Finance Ministry, Rana Assad Amin and senior officials of the Ministry of Finance.

UK denies deciding against trade sanctions on Russia

LONDON: Britain insisted on Tuesday that it was keeping an open mind on how to respond to Russian aggression against Ukraine, after the emergence of an apparently official document suggesting London opposed trade sanctions.
Foreign Secretary William Hague said that "all options remain on the table on the diplomatic and economic side" but said Britain would not make any announcements until European Union leaders meet to discuss the crisis on Thursday.
He acknowledged the "regrettable" security breach that resulted in a press photographer snapping an official document being carried into a meeting at Prime Minister David Cameron's Downing Street office on Monday.
It appeared to be a briefing note and recommended that "the UK should not support for now trade sanctions... or close London's financial centre to Russians".
London is an increasingly popular destination for wealthy Russians and the banks and trading houses of the City financial district attract substantial amounts of Russian capital.
Updating the House of Commons after his visit to Kiev on Monday, Hague rejected claims the photo blunder risked Britain's leverage during intense diplomatic negotiations.
"Anything that is written in one document being carried by one official is not necessarily any guide to the decisions that will be made by Her Majesty's government," Hague said.
"Our options remain very much open on this subject."
Putting aside the issue of sanctions, Hague noted that the reaction of the markets showed "there are major risks for Russia economically" in its actions across the border.
Russian stock markets crashed almost 10 percent and the ruble plunged to historic lows in value against the dollar and euro on Monday over concerns about the crisis.
"In the medium to long term, Russia needs the economic cooperation of European nations just as much or more as they need the cooperation of Russia," Hague said.
The minister has repeatedly warned of the "consequences and costs" of Russia's intervention in the ex-Soviet state but he and Cameron have yet to spell out what these might be.
EU foreign ministers warned Moscow on Monday to de-escalate or risk sanctions, including the suspension of long-running talks on easing EU visa requirements for Russian citizens.
Further "targeted measures" may also be considered, including visa bans or asset freezes against senior figures as well as suspending mutual accords, EU sources said.
Hague was cautious on individual asset freezes, saying: "Given our experience on sanctions being applied to several parts of the world in recent years, we have to be legally very sure of our case to apply sanctions on individuals."
He added: "The options are open but any measures we take must be well-judged and well-targeted and united in the European Union and the Western world more generally."
The rhetoric from the United States has been tougher, with Washington suspending military cooperation and promising movement on a broad range of sanctions later this week.