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Taliban Enter Afghan Capital as US Diplomats Evacuate by Chopper

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Taliban insurgents entered the Afghanistan capital Kabul on Sunday, an interior ministry official said, as the United States evacuated diplomats from its embassy by helicopter.

The senior official told Reuters the Taliban were coming in “from all sides” but gave no further details.

A tweet from the Afghan Presidential palace account said firing had been heard at a number of points around Kabul but that security forces, in coordination with international partners, had control of the city.

U.S. officials said the diplomats were being ferried to the airport from the embassy in the fortified Wazir Akbar Khan district. More American troops were being sent to help in the evacuations after the Taliban’s lightning advances brought the Islamist group to Kabul in a matter of days.

Just last week, a U.S. intelligence estimate said Kabul could hold out for at least three months.

“Core” U.S. team members were working from the Kabul airport, a U.S. official said, while a NATO official said several EU staff had moved to a safer, undisclosed location in the capital.

A Taliban official told Reuters the group did not want any casualties as it took charge but had not declared a ceasefire.

There was no immediate word on the situation from President Ashraf Ghani, who said on Saturday he was in urgent consultations with local leaders and international partners on the situation.

Afghanistan - Investors KingEarlier on Sunday, the insurgents captured the eastern city of Jalalabad without a fight, giving them control of one of the main highways into landlocked Afghanistan. They also took over the nearby Torkham border post with Pakistan, leaving Kabul airport the only way out of Afghanistan that is still in government hands.

The capture of Jalalabad followed the Taliban’s seizure of the northern city of Mazar-i-Sharif late on Saturday, also with little fighting.

“There are no clashes taking place right now in Jalalabad because the governor has surrendered to the Taliban,” a Jalalabad-based Afghan official told Reuters. “Allowing passage to the Taliban was the only way to save civilian lives.”

A video clip distributed by the Taliban showed people cheering and shout Allahu Akbar – God is greatest – as a convoy of pick-up trucks entered the city with fighters brandishing machine guns and the white Taliban flag.

After U.S.-led forces withdrew the bulk of the their remaining troops in the last month, the Taliban campaign accelerated as the Afghan military’s defences appeared to collapse.

President Joe Biden on Saturday authorised the deployment of 5,000 U.S. troops to help evacuate citizens and ensure an “orderly and safe” drawdown of military personnel. A U.S. defence official said that included 1,000 newly approved troops from the 82nd Airborne Division.

Taliban fighters entered Mazar-i-Sharif virtually unopposed as security forces escaped up the highway to Uzbekistan, about 80 km (50 miles) to the north, provincial officials said. Unverified video on social media showed Afghan army vehicles and men in uniforms crowding the iron bridge between the Afghan town of Hairatan and Uzbekistan.

Two influential militia leaders supporting the government – Atta Mohammad Noor and Abdul Rashid Dostum – also fled. Noor said on social media that the Taliban had been handed control of Balkh province, where Mazar-i-Sharif is located, due to a “conspiracy.”

Popularly Accepted

In a statement late on Saturday, the Taliban said its rapid gains showed it was popularly accepted by the Afghan people and reassured both Afghans and foreigners that they would be safe.

The Islamic Emirate, as the Taliban calls itself, “will, as always, protect their life, property and honour, and create a peaceful and secure environment for its beloved nation,” it said, adding that diplomats and aid workers would also face no problems.

Afghans have fled the provinces to enter Kabul in recent days, fearing a return to hardline Islamist rule.

Early on Sunday, refugees from Taliban-controlled provinces were seen unloading belongings from taxis and families stood outside embassy gates, while the city’s downtown was packed with people stocking up on supplies.

Hundreds of people slept huddled in tents or in the open in the city, by roadsides or in car parks, a resident said on Saturday night. “You can see the fear in their faces,” he said.

Biden said his administration had told Taliban officials in talks in Qatar that any action that put U.S. personnel at risk “will be met with a swift and strong U.S. military response.”

He has faced rising domestic criticism as the Taliban have taken city after city far more quickly than predicted. The president has stuck to a plan, initiated by his Republican predecessor, Donald Trump, to end the U.S. military mission in Afghanistan by Aug. 31.

Biden said it is up to the Afghan military to hold its own territory. “An endless American presence in the middle of another country’s civil conflict was not acceptable to me,” Biden said on Saturday.

Qatar, which has been hosting so-far inconclusive peace talks between the Afghan government and the Taliban, said it had urged the insurgents to cease fire. Ghani has given no sign of responding to a Taliban demand that he resign as a condition for any ceasefire.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Ukraine Strikes Russian Fuel Depot, Sparking Fires in Belgorod Region

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Russian Mercenaries

The governor of Russia’s southern Belgorod region said on Sunday Ukrainian forces attacked a fuel depot, triggering a series of fires after Moscow and Kyiv accused each other of launching overnight attacks on border regions.

“The Ukrainian military, aided by lethal drones, attacked a fuel storage site in Volokonovsky district,” Vyacheslav Gladkov wrote on Telegram, referring to an area near the border.

“Several reservoirs caught fire in an explosion. Firefighting crews are putting out the blaze.”

Gladkov also reported drone attacks on three other localities. There were no casualties reported in the incidents.

In the overnight air attacks, Ukrainian officials said two people died and four were injured in Sumy region. Gladkov reported three civilians were injured in Belgorod.

Two children were among those injured in Sumy, the military administration of the northeastern Ukrainian region said on Sunday on Telegram. Several homes and cars were damaged.

In Belgorod region, three civilians, including two children, were injured. Gladkov said two residential buildings were destroyed and more than 15 buildings in total were damaged.

The Russian defence ministry said it had destroyed one drone over Belgorod region and another over Kursk region, where Ukrainian forces launched a cross-border incursion last month. It said two drones were intercepted over Belgorod overnight.

Border regions on both sides have been subject to frequent attacks. Both Moscow and Kyiv deny targeting civilians, saying the attacks are aimed at destroying each other’s infrastructure critical to war efforts.

Thousands of civilians have died in the war, which Russia started with a full-scale invasion on Ukraine in February 2022. Millions of Ukrainians have also been displaced, while their cities and villages have become piles of rubble

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Ghana Ordered to Pay $111.5M to Power Company After U.S. Court Ruling

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The government of Ghana has been ordered to pay $111.5 million to Ghana Power Generation Company (GPGC) following a ruling by a District of Columbia Court in the United States.

This ruling was granted in favor of GPGC after Ghana failed to respond to an earlier tribunal ruling from the United Kingdom, which found the country in breach of a power purchase agreement.

The court’s decision comes after Ghana terminated its contract with GPGC on February 18, 2018. The UK tribunal, in its final award dated January 26, 2021, found that Ghana had violated its contractual obligations, resulting in significant financial damages for GPGC.

The tribunal initially awarded GPGC $134.3 million in damages, calculated using the Early Termination Payment formula as specified in the purchase agreement.

Ghana, however, did not comply with the tribunal’s verdict, prompting GPGC to pursue the matter in U.S. courts. On January 19, 2024, GPGC filed a lawsuit in the District of Columbia, citing the Federal Arbitration Act and the New York Convention, which provides for the recognition of international arbitration awards.

Court documents reveal that the petition was formally delivered to Ghana’s Ministry of Foreign Affairs and Regional Integration on January 23, 2024.

Despite receiving the legal documents, Ghana failed to respond to the court proceedings by the March 29, 2024, deadline. This non-response led the U.S. court to grant a default judgment in favor of GPGC.

Chief Judge James E. Boasberg emphasized that the arbitral judgment fell under the New York Convention, which requires member states, including the United States, to recognize and enforce international arbitration awards.

He further noted that Ghana had voluntarily submitted to international arbitration when entering the power purchase agreement, waiving its sovereign immunity in the process.

Although GPGC was not awarded pre-judgment interest, Ghana will be obligated to pay post-judgment interest at rates set by U.S. law.

This adds an additional financial burden to the $111.5 million judgment as the payment accrues further interest over time.

The country narrowly avoided a separate $11 billion arbitration award in the infamous P&ID case, which was eventually overturned due to findings of corruption and bribery.

However, in the GPGC case, multiple European courts have upheld enforcement orders, leaving Ghana with limited legal recourse.

The court’s decision is expected to place added pressure on Ghana as it faces mounting financial obligations related to international arbitration disputes.

GPGC has indicated that it will pursue all available legal avenues to ensure full recovery of the damages awarded by the tribunal, including possible enforcement actions in other jurisdictions.

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Zhongshang Fucheng Moves to Auction Nigerian Properties in UK Following $70M Arbitration Award

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Bola Tinubu

Zhongshang Fucheng Industrial Investment Ltd has escalated its efforts to collect a $70 million arbitration award from Nigeria by putting two residential properties in Liverpool up for sale.

This significant development follows a 2021 arbitration verdict against Nigeria, which remains unsettled.

The Chinese investment group has reportedly listed two buildings linked to the Nigerian government—15 Aigburth Hall Road and Beech Lodge, 49 Calderstones Road—on the global online marketplace eBay.

The move is part of a broader strategy to recover the outstanding $70 million, which includes a principal amount of $55,675,000, plus interest and legal costs, as stipulated by the arbitration verdict.

The arbitration stemmed from a dispute between Zhongshang Fucheng and Ogun State over a trade treaty violation.

The company claimed that Ogun State rescinded its rights to a free trade zone in 2016, prompting a legal battle that saw Zhongshang’s executives expelled from Nigeria.

The British court granted Zhongshang the authority to seize Nigerian assets in the UK after the Nigerian government failed to settle the arbitration judgment.

The seizure and subsequent auction of these properties mark a pivotal moment in the ongoing legal conflict.

The properties were confiscated because they were not classified as diplomatic or consular assets, making them subject to seizure under the court’s orders.

According to sources familiar with the situation, the properties are valued at approximately $2.2 million.

Zhongshang Fucheng has opted for an online auction to expedite the sale, aiming to reach a broad pool of potential buyers.

The decision to use eBay highlights the company’s commitment to transparency and swift asset recovery.

“This move is not just about recovering the funds; it’s a demonstration of our commitment to enforcing the arbitration award and ensuring that due process is followed,” said a consultant working with Zhongshang Fucheng, who spoke on condition of anonymity.

The Nigerian government, already grappling with similar arbitration cases, is facing increased scrutiny as European courts have granted enforcement orders in several countries, including the UK, Belgium, and France.

The ongoing conflict with Zhongshang Fucheng has intensified pressure on Nigerian authorities to address these legal and financial challenges more effectively.

In June 2024, the UK High Court, King’s Bench Division, ruled in favor of Zhongshang’s right to seize the Liverpool properties.

Master Lisa Sullivan’s ruling emphasized that the properties were used for commercial purposes, thereby excluding them from sovereign immunity protections.

The case against Nigeria underscores broader issues related to international arbitration and asset recovery, reflecting a growing trend of global legal disputes over state assets.

For Zhongshang Fucheng, the auction of the Liverpool properties represents a critical step in securing the funds awarded by the arbitration panel.

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