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October 18, 2024

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The United States has imposed sanctions on two China-based drone suppliers and their alleged Russian partners, the first time it has penalized Chinese companies for supplying complete weapons systems to Russia for its war in Ukraine.

Washington has long accused China of supporting Russia’s war effort by supplying dual-use goods and components that could be used in the manufacture of weapons, which Beijing denies. But in an announcement Thursday, the US Treasury Department accused the Chinese firms of direct involvement in arms supplies to Moscow.

The Chinese companies had collaborated with Russian defense firms in the production of Moscow’s “Garpiya series” long-range unmanned aerial vehicles, the department said in a statement. The drones were designed, developed and made in China before being sent to Russia for use in the battlefield, it said.

“The Garpiya has been deployed by Russia in its brutal war against Ukraine, destroying critical infrastructure and causing mass casualties,” it said.

“While the United States previously imposed sanctions on (Chinese) entities providing critical inputs to Russia’s military-industrial base, these are the first U.S. sanctions imposed on (Chinese) entities directly developing and producing complete weapons systems in partnership with Russian firms.”

The statement accused Xiamen Limbach Aircraft Engine Co., based in the coastal city of Xiamen, of producing drone engines for the Garpiya series.

The US accused the other sanctioned Chinese company, Redlepus Vector Industry Shenzhen Co., of working with a Russian defense firm to facilitate the shipment of the drones to Russia.

The Treasury Department said Redlepus had also sent shipments to Russia of components that can be used in drones, including aircraft engines, parts of automatic data processing machines and electrical components through Russian defense firm TSK Vektor.

The US also imposed punitive measures on the owner of TSK Vektor, a Russian national, and another company he owns. The US previously sanctioned TSK Vektor last December for helping Russia to acquire attack drones.

“We have seen for some time Chinese companies providing components to Russian companies that Russian companies then use to turn into machinery, weapons, other components that Russia could use in its war,” State Department spokesman Matthew Miller told reporters Thursday.

“This was the first time we actually saw a Chinese company manufacturing a weapon itself that then was used on the battlefield by Russia.”

‘Common views’

Beijing has previously denied supplying weaponry to Russia and maintains it keeps strict controls on such goods.

The Chinese embassy in Washington denied the latest accusations and said China was handling the export of military products responsibly, according to Reuters.

“The U.S. makes false accusations against China’s normal trade with Russia, just as it continues to pour unprecedented military aid into Ukraine,” embassy spokesperson Liu Pengyu said in a statement, according to Reuters. “This is (the) typical double standard, and extremely hypocritical and irresponsible.”

China’s support for Russia as the Kremlin wages war in Ukraine has become a key point of tension between Washington and Beijing as they seek to stabilize rocky relations.

Beijing has claimed neutrality in the more than two-and-a-half-year long conflict even as it has deepened political, economic and military ties with Moscow. China has become Russia’s top trade partner, offering a crucial lifeline to its heavily sanctioned economy, and the two nuclear-armed neighbors have ramped up joint military exercises in recent months.

In the latest sign of their deepening alignment, Chinese and Russian defense officials vowed to strengthen their cooperation during meetings in Beijing last week.

The two countries have “common views, a common assessment of the situation, and a common understanding of what we need to do together,” defense chief Andrey Belousov told Zhang Youxia, vice chairman of China’s Central Military Commission, according to Russian state-run news agency Tass.

This post appeared first on cnn.com

Voters in Moldova will cast their ballots Sunday in two crucial votes, which have been billed as the most consequential in the country’s post-Soviet history. One is for president, the other a referendum on eventual European Union membership; neither appears safe from pro-Russian meddling.

Some of those voting have been offered the chance to make a quick buck. Ilan Shor, a Moldovan oligarch with links to the Kremlin, has said he’ll pay people for working to elect a Russia-friendly candidate and stop the referendum passing.

Since being convicted in absentia for his role in stealing $1 billion from Moldovan banks in 2014, Shor has spent much of his time in Russia, where he has set up a political movement that Moldovan officials claim is attempting to interfere with the country’s presidential election and EU referendum.

Alongside a more sophisticated misinformation campaign, Shor has resorted to cruder methods to meddle with Moldovan politics. In a video posted to his Telegram last month, Shor said he would pay voters the equivalent of $28 if they registered with his campaign, with the prospect of more for good results.

“If you have worked well and most people in your area voted against (the referendum), the bonus that you receive personally from me on your card will be 5000 lei ($280),” he said.

Authorities say Shor’s offer is part of a wider campaign attempting to sway the two votes, which could determine whether Moldova continues its path toward the West or remains lodged within the Kremlin’s orbit.

Moldova, an eastern European country of some 2.5 million people sandwiched between Romania and Ukraine, has veered between pro-Western and pro-Russian courses since the end of the Cold War.

Russia still has some 1,500 troops stationed in Transnistria, a sliver of territory which illegally split from Moldova as the Soviet Union crumbled and has since been run by pro-Russian separatists.

But Moldova’s pro-Western camp has dominated since 2020, when Maia Sandu – a Harvard-educated former World Bank official – won the presidential election by a landslide, promising to clean up the country’s judiciary and combat corruption, a major issue. Her Party of Action and Solidarity won a majority in parliament the next year. She’s now seeking a second presidential term and is considered the frontrunner.

As in many formerly Communist countries, Moldovan politics was rocked by Russia’s invasion of Ukraine in February 2022. Home to a Romanian-speaking majority and large Russian-speaking minority, many Moldovans had long viewed Russia as a benign big brother. But as Russian troops swept across southern Ukraine toward the port city of Odesa – near Moldova’s eastern border – and more than 500,000 Ukrainian refugees fled to Moldova, many in the country realized their own vulnerability to Russian aggression.

Russia’s invasion drastically accelerated Moldova’s path toward EU membership. Although Sandu had set her sights on joining the bloc, Moldovan officials understood this was a distant prospect, said Nicu Popescu, Moldova’s then-foreign minister and deputy prime minister.

The war has even ended Moldova’s near-total reliance on Russian gas, albeit at a cost. The country was plunged into an energy crisis when Russia’s Gazprom sharply cut gas supplies and hiked its prices, in what Moldovan officials alleged was an attempt to punish Sandu for tacking closer to Western Europe. With winter approaching, Moldova swiftly had to arrange alternative energy supplies from Europe. As of late last year, it no longer buys gas from Gazprom. “Moldova can’t be blackmailed anymore,” the country’s energy minister said this year.

Opposition ‘lost its self-identity’

Polling suggests that many in Moldova have been impressed by Sandu’s first term. A CBS-AXA poll found more than 36% of Moldovans supported Sandu, placing her far ahead of any of her 10 opponents.

If no candidate wins 50% of the vote on Sunday, a second-round vote will be held on November 3.

Sandu’s closest rival, former prosecutor general Alexandr Stoianoglo, trails with just over 10% of support among those surveyed. But analysts say his platform is a measure of the state of disarray in which Russia’s war in Ukraine has left Moldova’s opposition parties.

Despite running for the traditionally pro-Russian Party of Socialists, Stoianoglo says he supports Moldova joining the EU – something that would have been “unimaginable just a few years ago,” according to Maksim Samorukov, a fellow at the Carnegie Russia Eurasia Center.

‘Russia is financing this’

Instead, officials say Russia is pouring more resources into trying to swing the EU referendum, when Moldovans will be asked whether they support constitutional changes that could lead to the country joining the bloc.

Moldova’s national police chief, Viorel Cernauteanu, said earlier this month that more than 130,000 Moldovans had been bribed by a Russia-managed network to vote against the referendum. He said more than $15 million had been transferred last month alone, to buy votes and even to pay people as much as $5,500 to vandalize public buildings, Reuters reported.

“It is clear that Russia is financing this,” Cernauteanu said.

Kremlin spokesman Dmitry Peskov rejected accusations that Moscow is interfering in Moldova’s political process. “There are still many people in Moldova who support the development of good relations with our country,” he said at a briefing this week.

Alongside alleged vote-buying, Pistrinciuc said Moldovans have been bombarded by online propaganda. The messaging includes highly personal attacks against Sandu and warnings that joining the EU will lead to war and the foisting of LGBTQ ideology upon the country.

The online campaign is “so big it’s incomparable to the size of the country,” Pistrinciuc said.

While Moldovan officials are alarmed, Samorukov said the campaign of meddling was also a sign of Russia’s waning influence in the country.

“It reflects the loss of the national allure of Russia in Moldovan society,” he said. “It also reflects the total laziness and cynicism of the Russian leadership, who have just given up on any soft power techniques and resorted to the crude buying of votes.”

Popescu said that vote-buying can only achieve fleeting results: When the money dries up, so will the support. “It mainly works for people who don’t have strong convictions, people who are disappointed, who traditionally don’t vote,” he said. “There’s limits (to what can be achieved).”

But even if Sandu prevails in both the presidential vote and the EU referendum, he expects the Kremlin’s campaign to continue. “It’s more about destabilization and building stronger fundamentals for Russia-supported candidates for the parliamentary elections next year,” he warned.

This post appeared first on cnn.com

Bitcoin and Ethereum: Bitcoin is close to a weekly high

  • The price of Bitcoin retreated to the $66,600 support level on Thursday, October 17
  • Ethereum price continues to consolidate above $2600 on Friday, October 18

Bitcoin chart analysis

The price of Bitcoin retreated to the $66,600 support level on Thursday, October 17. After a short consolidation in that zone and the support of the EMA 50 moving average, we started a recovery above the $67,000 level. The price continued to rise up to the $68335 level. We encounter minor resistance at this level and pull back to the $67,900 level. Bitcoin is still very bullish, and we expect to return to the bullish side soon.

Potential higher targets are $68500 and $69000 levels. For a bearish option, we need a stronger bearish impulse below the $67500 level. Down there, we would test the daily open level. Then, we need a break below to form a new daily low and confirm the move to the bearish side. Potential lower targets are the $67,000 and $66,500 levels.

 

Ethereum chart analysis

Ethereum price continues to consolidate above $2600 on Friday, October 18. We have resistance in the $2650 zone for the second day in a row. The price ponovo nailazi na otpor u toj zoni i fall to $2635. Now, we need a new level of support in order to stay on the bullish side and continue the growth. Potential higher targets are $2660 and $2680 levels.

For a bearish option, the price of Ethereum needs to go back down to the daily open level of $2605. Failure to hold there will increase bearish momentum and send us below to a new low. The EMA 50 moving average moves to the bearish side, putting additional pressure on the price. Potential lower targets are $2600 and $2580 levels. At $2560, Ethereum will retest the EMA 200 moving average, which it received support at the beginning of the week.

 

The post Bitcoin and Ethereum: Bitcoin is close to a weekly high appeared first on FinanceBrokerage.

Oil and Natural Gas: Natural Gas under pressure EMA 200

  • During this morning’s Asian trading session, the oil price continued its sideways consolidation in the $70.00-$70.70 range
  • The price of natural gas continued to move in the support zone on Friday, October 18

Oil chart analysis

During this morning’s Asian trading session, the oil price continued its sideways consolidation in the $70.00-$70.70 range. The price continues to move in the support zone and below the EMA 50 moving average. Oil is still under pressure, which could produce a bearish impulse to a new daily low. This means a price drop below the $70.00 level again. Potential lower targets are $69.50 and $69.00 levels.

If we manage to reach $71.00, with that step, we get the support of the EMA 50 moving average to continue to the bullish side. We expect to see further oil advance with stronger bullish momentum to a new daily high. Potential higher targets are $71.50 and $72.00 levels. EMA 200 moving average could be a big problem in the $72.00 zone.

 

Natural gas chart analysis

The price of natural gas continued to move in the support zone on Friday, October 18. We are very close to breaking below the weekly low of $2.68. Rising price pressure could trigger a bearish impulse and thus form a new lower low. Potential lower targets are $2.65 and $2.60.

For a bullish option, the price of natural gas would have to first return above the $2.70 level. After seeing that, we expect a bullish impulse above the $2.72 level. There, we get the support of the EMA 200 moving average, which should further strengthen the bullish momentum for the continuation of the recovery. Potential higher targets are $2.75 and $2.80 levels. The EMA 50 moving average could represent resistance in the zone of the $2.80 level.

 

The post Oil and Natural Gas: Natural Gas under pressure EMA 200 appeared first on FinanceBrokerage.

Gold and Silver: Gold continues to climb to higher levels

  • The price of gold on Friday, October 18, gets a new bullish boost to a new all-time high at the $2714 level
  • During this morning’s Asian trading session, the price of silver initiated a bullish consolidation again above the $32.00 level

Gold chart analysis

The price of gold on Friday, October 18, gets a new bullish boost to a new all-time high at the $2714 level. After that, we initiated a pullback to the $2702 level. Here, the price stops the further pullback and reverts to the bullish side. With two new bullish impulses, gold rises again above $2710 and approaches the previous high. We need one more impulse, and here we are at a new all-time high.

Potential higher targets are the $2720 and $2730 levels. For a bearish option, we need a negative consolidation of the gold price below the $2700 level. After that move, space opens up towards the daily open level of $2693. In that zone, we can test the EMA 50 moving average because it was our support in the previous days. This time, we need a break below and the formation of a new daily low. Potential lower targets are $2690 and $2680 levels.

 

Silver chart analysis

During this morning’s Asian trading session, the price of silver initiated a bullish consolidation again above the $32.00 level. We formed a daily high at $32.17 and confirmed the weekly high. The price has been in a stable bullish consolidation and has received support from EMA 50 and EMA 200 since Tuesday, October 15. We expect to see further growth and a breakout to a new weekly high. Potential higher targets are $32.20 and $32.30 levels.

For a bearish option, the price of silver must remain below the $32.00 level. Failure to move above will add to the momentum and trigger a bearish consolidation. Going down to the $31.80 level, we are back to testing the EMA 50 moving average. This time, we hope for a break below and the formation of a new daily low. Potential lower targets are $31.70 and $31.60 levels.

 

The post Gold and Silver: Gold continues to climb to higher levels appeared first on FinanceBrokerage.

EURUSD and GBPUSD: The Euro returns to the positive side

  • On Thursday, October 17, EURUSD retreated to 1.08112 to a new three-month low
  • During this morning’s Asian trading session, GBPUSD saw a bullish consolidation from the 1.30100 level

EURUSD chart analysis

On Thursday October 17, EURUSD retreated to 1.08112 to a new three-month low. The pair managed to stop further retreat and start recovery. During this morning’s Asian trading session, the Euro continued to rise to 1.08500. In the zone of that level, we encounter the EMA 50 moving average, which has been a constant resistance for us this week. This time, we expect a break above and the formation of a new daily high.

Potential higher targets are 1.08600 and 1.08700 levels. For a bearish option, EURUSD would have to turn to the bearish side again. The important level is the 1.08300 daily open price. By breaking below, we go to a new daily low and strengthen the bearish momentum. Potential lower targets are 1.08200 and 1.08100 levels.

 

GBPUSD chart analysis

During this morning’s Asian trading session, GBPUSD saw a bullish consolidation from the 1.30100 level. At the start of the EU session, we saw a bullish impulse to 1.30700 to a new daily high. With that jump, the pair tested the weekly open level and the EMA 200 moving average. In the first swing, we failed to hold and saw a pullback to 1.30300. GBPUSD starts a new bullish momentum from this support level and has a new chance to return above the EMA 200 and the weekly open level to the positive side. 

Potential higher targets are 1.30800 and 1.30900 levels. For a bearish option, the pair should encounter resistance in the 1.30500 zone. After that, we expect the initiation of bearish consolidation below 1.30300 and a drop to 1.30200. There, we will test the EMA 50 moving average in the hope of stopping further decline. A break below means a continuation to the bearish side and the formation of a new low. Potential lower targets are 1.30100 and 1.30000 levels.

 

The post EURUSD and GBPUSD: The Euro returns to the positive side appeared first on FinanceBrokerage.

S&P 500 and Nasdaq: New Targets and Support Levels

  • During this morning’s Asian trading session, the S&P 500 finds support at the 5840.0 level
  • The Nasdaq gained new support this morning at the 20200.0 level

S&P 500 chart analysis

During this morning’s Asian trading session, the S&P 500 finds support at the 5840.0 level. Additional support in that zone is the EMA 50 moving average, which influenced the index to remain stable. In the EU session, we climbed up to $5860.0, and we expect a continuation of the bullish side in the US session. On Thursday, October 17, the S&P 500 created a new all-time high at 5882.5. We managed to break above the previous high from Monday, October 14.

All signs indicate that we can expect a continuation of the bullish consolidation. Potential higher targets are 5880.0 and 5900.0 levels. If the current bullish momentum decreases, the S&P 500 could turn to the bearish side. After that, we will see a pullback below the 5840.0 level and the EMA 50 moving average. Since we lost the previous support, we must continue the retreat and look for a new one at lower levels. Potential lower targets are 5820.0 and 5800.0 levels.

 

Nasdaq chart analysis

The Nasdaq gained new support this morning at the 20200.0 level. With the support of the EMA 200 moving average, we quickly moved back above the weekly open level to the positive side and continued to the daily high at 20315.0. The index at 20250.0 forms a higher low and thus confirms determination for further recovery to the bullish side. Potential higher targets are 20350.0 and 20400.0 levels.

If there is a reduction in the bullish momentum again, the Nasdaq will have to start a new pullback. We are again forced to test the weekly open level and the support of the EMA 200 moving average. This time, we need a break of the index below to a new daily low as a confirmation of bearish momentum. Potential lower targets are 20150.0 and 20100.0 levels. This week’s Nasdaq low was at 20042.0.

 

The post S&P 500 and Nasdaq: New Targets and Support Levels appeared first on FinanceBrokerage.