Author: Fotoula Andreli

U.S. Treasury Secretary Janet Yellen said that the federal department she oversees has imposed more than 2,500 Russia-related sanctions following Moscow’s full-scale invasion of Ukraine last year. “We have degraded the Kremlin’s ability to replace more than 9,000 pieces of heavy military equipment that it has lost on the battlefield. We have also stabilized global energy markets and cut into the Kremlin’s revenues by implementing innovative caps on the price of Russian oil,” Yellen said in opening remarks before the Senate’s Financial Services and General Government subcommittee. Ukrainian Presidential Press Service | via Reuters Yellen also referenced her visit to…

Head of state Serdar Berdimuhamedow signed the decrees in a country, which according to British oil company BP, can boast the world’s fourth largest natural gas reserves.Turkmenistan depends on exports to China and to a less extent Russia and Iran.Last autumn, the ex-Soviet republic voiced readiness to export gas via the Caspian Sea to Europe, which faces shortages following Russia’s invasion of Ukraine. To diversify its export earnings, Turkmenistan is working on a gas pipeline to supply India and Pakistan via Afghanistan but the project has suffered repeated problems, particularly since the Taliban returned to power in Kabul in August…

The corruption scandal rocking Brussels continues to widen: Italian MEP Andrea Cozzolino has been arrested in Naples on a European warrant while MEP Marc Tarabella has been criminally charged, joining a group of four people awaiting trial. The investigation centres on an alleged cash-for-favours scheme that involved “large sums” of money and “substantial” gifts paid to influence EU decision-making, according to Belgian authorities. At least €1.5 million in cash have been seized across dozens of raids. The countries suspected to be behind the illicit lobbying are Qatar and Morocco. Both have vigorously contested the claims and denied any wrongdoing. The arrest…

Although much attention has focused on the shift in power from Democrats to Republicans in the U.S. House of Representatives, the empowering of line departments and agencies to take more responsibility for Asia policy could be just as important. And it could prove to be a good thing for the region. Last month, the U.S. House and Senate swore in new members and began the 117th Congress. The biggest change, of course, is that Republicans now hold a small margin in the House of Representatives. Nancy Pelosi, the senior House Democrat, stepped down from her role as Speaker and was replaced by Republican…