Latest News
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Russia claims to have shot down 148 Ukrainian drones within three hours
The Russian military announced early Monday morning that its air defence units had shot down 148 Ukrainian drones in a period of three hours. Officials also said that emergency crews were working to restore power to nearly half a million households who suffered outages due air attacks. A drone struck an apartment in the Russian Black Sea port city of Novorossiysk on Sunday evening. The drone also killed a volunteer for civil defence in Russia's border area of Belgorod. According to a?statement from the Russian Defence Ministry, air defence units intercepted between 8 and 11 pm 148 'drones', mainly in the central and southern regions of the country. Sundasy (1700-2100 GMT). Andrei Kravchenko said that?drone debris struck a high rise apartment building. No word yet on the number of casualties. The governor of Sevastopol, a port city in Crimea that was seized by Russia and annexed 10 years ago, said four drones had attacked his city throughout the day. Seven drones have been?struck down in the latest wave. Andrei Chertkov said that in the Russian-occupied Donetsk Region?in eastern Ukraine, repair crews have restored power to two major cities: Donetsk & Makiivka?after Ukrainian assaults on energy infrastructure. Chertkov said earlier that a half-million households were left without electricity. The work was still being done in areas that were still without electricity. Crews also restored power in areas held by Russia of the Zaporizhzhia Region. (Reporting and editing by Cynthia Osterman).
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Bloomberg News reports that the Russian Baltic port has resumed crude loading following an attack.
Bloomberg News reported that a major Russian Baltic port, 'Ust-Luga, resumed crude loading after days of disruptions due to multiple Ukrainian drone strikes in the area. Bloomberg's shipping data revealed that The Jewel, Aframax class vessel, started a cargo load on Saturday. In late March, Ukrainian drones attacked Russia's Baltic Sea Port of Ust-Luga for the fifth time in 10 days. Industry sources said that the drones hit crude oil loading stations operated by Russian pipeline monopoly Transneft. The report could not be verified immediately. Transneft didn't immediately respond to a comment request. Last month, calculations based on data from the market showed that at least '40%' of Russia’s oil export capability has been affected by a series of?drone strikes, a disputed strike on a pipeline, and the seizure of tankers. (Reporting and editing by Cynthia Osterman in Bengaluru)
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Charity groups say that ships near Italy have rescued 32 migrants and 71 others who were lost at sea.
Rescue charities reported that two merchant ships near the Italian coast recovered the bodies?of?two migrants?and rescued 32 survivors?from a boat attempting to?cross?to europe from Libya at Easter weekend. The survivors claimed 71 other people were lost at sea. Mediterranea Save Humans and Sea-Watch, two groups that work together to save lives in the Mediterranean, have confirmed the victims' transfer to a patrol boat of the Italian coast guard and their arrival on the Italian island of Lampedusa. The Italian?interior minister said that it did not have any comment to make on the report. The Italian?Coast Guard didn't immediately respond to a request for a comment. Sunday is Easter in Italy. The rescue charities reported that survivors said 105 people were on board the ship, but 71 of them drowned at sea. A video released by Sea-Watch showed a dozen people holding on to a capsized, orange boat when the merchant ship approached it. The 'Mediterranean has been ravaged by bad weather this year. This has limited the number of departures out of North Africa, and caused serious problems for those who have managed to set sail. IOM estimates that at least 683 people have died in the central Mediterranean this year. This is the highest death toll since 2014. (Reporting and Editing by William Maclean, Joshua McElwee and Matteo Negri)
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Trump says he will strike Iran's infrastructure on Tuesday, if the Strait is blocked
In a sarcastic social media post published on Sunday, U.S. President Donald Trump said that the United States would target Iran's bridges and power plants on Tuesday if the Strait of Hormuz was not reopened. In Iran, Tuesday will be "Power Plant Day" and "Bridge Day", all rolled into one. It will be a first !!!" Trump stated in a "Truth Social" post that Tehran had effectively closed the main shipping lane since the U.S. launched its attacks against Iran over a month ago. Trump concluded his?Easter Morning post by saying: "Praise to Allah." Separately, the president said that he would hold a news conference in the Oval Office on Monday after?the U.S. The?pilots of the?downed aircraft in Iran. (Reporting and editing by Susan Heavey; Dan Burns, Ros Russel)
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Shipping data shows that a tanker loaded with Iraqi crude oil passes through Hormuz.
Data from LSEG/Kpler showed that an oil 'tanker' loaded with Iraqi crude was seen transiting the Strait of Hormuz near the Iranian coast a few days after Iran announced Iraq was exempted from any restrictions on transiting this vital -sea route. Kpler data shows that the Ocean Thunder loaded approximately 1 million barrels of Basrah heavy crude on March 2. It is expected to "discharge" its cargo in Pengerang, Malaysia by mid-April. Iran closed the Strait after U.S. airstrikes and Israeli strikes on Iran in late February escalated a conflict. Later, it said that vessels without U.S. and Israeli connections would be allowed to pass through the strait. In recent days, three Omani tankers, as well as a French-owned container vessel?and a Japanese owned?gas carrier?have crossed.
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Leaders say that explosives were found near a gas pipeline in Serbia that supplies Hungary.
Leaders from Serbia and Hungary said that explosives of "devastating power" were discovered near the Turkstream pipeline in Serbia, which carries Russian gas to Hungary. Hungarian Prime Minster Viktor Orban claimed that Serbian President Aleksandar Vucic had told him explosives were found near the pipeline transporting Russian gas from the Balkans into Central and Eastern Europe. Vucic, an ally close to Orban, wrote on Instagram that "our units found explosives of devastating power." "I told Orban, the?PM that we would keep you updated on this investigation." Orban, after a phone call with Vucic on Sunday, announced in a post on Facebook that he called an "extraordinary defence council meeting". The incident occurs a week ahead of the pivotal election on April 12, where Orban, a nationalist, is fighting to maintain his 16-year hold on power. His party trails in polls the opposition Tisza Party. Orban had increased security around the energy infrastructure of?the nation in February. He raised the stakes for?the elections by saying that it was a matter of choosing between war and peace. Budapest is also embroiled in a dispute with Ukraine due to a halt in oil deliveries via the Druzhba Pipeline. Orban's Fidesz has tried to link?opposition leader Peter Magyar with Brussels and Ukraine by suggesting that voting for his Tisza Party means voting for war and tanks. (Reporting and writing by Krisztina than; editing by Hugh Lawson, Helen Popper, and Edward McAllister)
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After drone attacks, a fuel reservoir was hit in Primorsk. The NORSI refinery is on fire.
Russian authorities reported that a drone attack caused fuel to leak at the port of Primorsk in Russia's Baltic Sea, and an oil refinery called?NORSI? caught fire after a drone strike. Ukraine intensified its attacks against Russian energy infrastructure over the last month to damage Russia's main source of revenue, and undermine its military power. Alexander Drozdenko, the governor of Leningrad's north-western?region, initially claimed that a pipeline had been damaged in Primorsk. Primorsk is one of Russia’s major oil exporting ports. Later, he said on Telegram that the pipeline wasn't damaged but the fuel reservoir near the port was leaking when it was struck by shrapnel. U.S. commercial images of satellites taken by on Thursday showed that the drone attack in Ukraine last month destroyed at least 40% of Primorsk's storage facilities, which are capable of handling 1 million barrels of oil per day. Around 40% of Russia's ability to export oil was shut down last month due to the attacks and the closing of the Druzhba Pipeline in Ukraine. Also, tankers with a Russian connection were seized. OIL REFINERY ON FIRE Gleb Nikitin (the Governor of Nizhny Novgorod Region) said on Telegram on Sunday that a fire broke out at Russia's NORSI Oil Refinery, the fourth largest in the country, after a drone strike. He added that two facilities were also?hit. According to initial information, a "power station" and "several houses" were damaged in the attack. However, no one was injured. NORSI can process up to 16 million metric tons of oil a year or 320,000 barrels a day. Andrey Kravchenko is the mayor of Novorossiysk, Russia's biggest?port along the Black Sea. He said that an air alert had been triggered due to the drone attack threat. During such alerts, oil loadings are typically suspended, including at the Caspian Pipeline Consortium terminal that handles Kazakhstan's oil exports. Kevin Buckland, Hugh Lawson and Kevin Buckland edited the report.
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Sheriff's Office: Vehicle crashes into Louisiana crowd injuring 15 at least
Law enforcement officials reported that a car slammed into crowd in New Iberia (Louisiana) on Saturday. Some of the injuries were critical. Rebecca Melancon, spokesperson for the Iberia Parish Sheriff's Office, said that a suspect was arrested and an investigation is?ongoing' following the incident. The incident occurred near a celebration of 'Lao New Year'. She said it was not clear whether the incident in the car was intentional. Acadian Ambulance announced on social media that it transported 13 people to hospital. The ambulance service posted on X that two of the 13 people were airlifted. The Louisiana Lao New Year Festival organizers announced on Facebook that they were canceling Saturday night's concerts as well as the alcohol sales. The organizers posted on Facebook: "We're?deeply saddened" by the news about the?incident that occurred near the festival grounds. "We are pleading for the?victims and their families in this difficult time." This three-day festival, held every Easter weekend, includes live music and a parade as well as other activities celebrating the Lao new year. Noel Randewich reported from San Francisco, Sergio Non edited by Matthew Lewis and Matthew Lewis.
Trump dislikes Biden's climate law. His allies are generating income from it
Donald Trump has actually guaranteed to gut U.S. President Joe Biden's. environment aids if elected. However much of Trump's allies are. taking advantage of them thanks to huge investments in solar power,. electrical lorries, carbon sequestration, hydrogen and other. clean energy technologies.
Reuters found at least 7 of Trump's close allies and. charity events, or the companies they run, hold hundreds of countless. dollars-worth of stakes in companies that are significant. beneficiaries of the tax breaks embedded in the Inflation. Reduction Act, Biden's signature climate law.
They include Trump's son-in-law Jared Kushner; his former. ambassador to China and continued ally Terry Branstad; and. companies run by informal energy advisor and oil magnate Harold. Hamm and powerful booster Howard Lutnick.
Big oil companies like Occidental Petroleum and. Energy Transfer, whose CEOs hosted a May fundraising event in. Houston for Trump's campaign with Hamm, likewise hold major. investments in projects that may just be feasible if Biden's tidy. energy tax credits make it through.
And Tesla, whose creator and CEO Elon Musk has actually been. improving Trump's campaign, is likewise benefiting massively from the. IRA's EV and solar credits.
Together, these individuals and business hold billions of. dollars in investments that receive the individual retirement account's financially rewarding tax. credits and stand to lose big if Trump is able to follow through. on his promise to gut Biden's climate law, according to Reuters. reporting.
The financial investments are very important due to the fact that they raise the. likelihood some of Trump's allies may ask him to maintain. elements of Biden's climate law if he wins the November election. against Democratic Vice President Kamala Harris. That would include. influential voices to some of the trade groups and legislators. that have actually currently stood up in favor of specific IRA subsidies.
None of individuals or business recognized were. willing to comment for this story on whether they would. intervene to preserve parts of the individual retirement account.
For the time being, Trump's intentions are clear.
My plan will end the Green New Offer, which I call the. Green New Rip-off, and rescind all unspent funds under the misnamed. Inflation Reduction Act, Trump stated when he unveiled elements. of his economic policy platform in a speech in September.
Trump Campaign Senior Advisor Brian Hughes told Reuters a. broad rollback of the IRA stays a leading concern if he wins the. Nov. 5 election, arguing the package has actually contributed to. inflation and broadened the deficit.
Rescinding any part of the individual retirement account would require an act of. Congress.
A group of 18 Republican legislators representing districts. that have drawn IRA-linked financial investments sent a letter to Home. Speaker Mike Johnson in August prompting him against withdrawing all. of the IRA if the party wins control of your home and Senate.
The White Home stated the individual retirement account produced more than 330,000 tasks. and that gutting it would hurt financial investments made in Republican. states.
By some price quotes, more of this investment is taking place in. red and purple states, White Home representative Angelo. Hernandez stated.
The Biden administration has actually currently worked to provide the. large bulk of IRA grants, however the law's tax credits are set. to continue for many years.
Other financiers and business involved in tidy energy. tasks are hopeful that Trump's campaign rhetoric gives way to. usefulness, must he win in November.
Innovators and energy companies we deal with want policy. predictability. They are making numerous millions in. investments due to the fact that of the individual retirement account, said Jeremy Harrell, CEO of. Washington-based conservative clean energy organization. ClearPath.
Frank Wolak, president of the Fuel Cell & & Hydrogen Energy. Association, stated it will be necessary for Congress to safeguard. the tax credits if Trump wins the election.
We're going to simply do some hard informing on the individual retirement account to. our congressional allies, he stated.
ALLIES WITH IRA ADVANTAGES
- MOSAIC
Trump's son-in-law and previous governmental advisor. Kushner's private equity fund Affinity Partners in 2022 invested. $ 200 million in Mosaic, a California-based supplier of financing. for solar energy and home performance enhancements, according to. financial investment information supplier PitchBook.
Established in 2011 as a crowdfunding startup, the business got a. increase from the individual retirement account's 30% tax credit for property solar, as. well as its customer rewards for photovoltaic panels, electrical heat. pumps and other efficiencies by raising consumer interest for. its clean energy loans.
- TOP CARBON SOLUTIONS
Oil tycoon Harold Hamm has actually long been an energy adviser and. political financier for Republican political leaders, consisting of Trump,. and in May hosted a Houston fundraiser for Trump's third. presidential project.
His company Continental Resources in 2022 made a $250. million strategic investment into Top Carbon Solutions, a. carbon capture and sequestration (CCS) project that will capture. CO2 from ethanol plants and other commercial sources in the. Midwest.
That project relies on the 45Q tax credit for numerous types. of CCS, which the individual retirement account increased greatly across the board.
Though the project was proposed before the individual retirement account was checked in. 2022, the enhanced tax credits could yield a $2.9 billion. windfall for Summit's financiers, according to Jake Schwitzer,. director of policy group North Star Policy Action.
Previous Iowa Governor Terry Branstad, who acted as Trump's. ambassador to China and stays a staunch ally, is Top's. primary policy consultant.
- TESLA
Tesla is a huge recipient of IRA tax credits. The. electrical lorry and solar business called the plan a. substantial increase towards accelerating our objective soon. after it passed into law in 2022, in spite of CEO Musk's public. hostility toward aids.
- OCCIDENTAL PETROLEUM
In addition to co-hosting the Texas fundraising event for Trump in. May, Occidental CEO Vicki Hollub went to a separate charity event. comprised of energy executives at Trump's Mar-a-Lago estate in. April. These events generated tens of millions for Trump's. campaign.
Occidental is a recipient of the 45Q carbon capture tax. credit and is a recipient of an Energy Department grant of. nearly $1 billion to construct a direct air capture (DAC) hub to. show that nascent innovation at scale. The company has. touted its technique to market so-called net-zero barrels of. oil.
In May, Hollub stated in a statement to Reuters: I have actually been. speaking with policymakers on both sides of the aisle, and will. continue to talk with them, to express our support for 45Q,. because it will help establish innovations like direct air. capture which eliminate carbon dioxide emissions from the. atmosphere and safeguard America's energy security.
- ENERGY TRANSFER
Energy Transfer's CEO Kelcy Warren is a long-time supporter. of Trump. The pipeline operator also takes part in projects. supported by IRA tax credits, including two organized Louisiana. CCS hubs, and a hydrogen hub in Texas that just recently won just. over $1 billion in Energy Department funding.
- CANTOR FITZGERALD
Trump's transition team co-chair Howard Lutnick is the. CEO of Cantor Fitzgerald, a major monetary services company that. has actually made substantial investments in business that benefit from. the individual retirement account.
As shift co-chair, Lutnick is playing an essential role in the. search for top-level appointees to staff a possible Trump. administration, and he has actually likewise functioned as a high-dollar. charity event for Trump.
Amongst the companies that Cantor Fitzgerald has invested in. that have benefited considerably from the individual retirement account are Invenergy, a. renewable energy company that is the top constituent of the Cantor. Fitzgerald Facilities Fund.
The infrastructure fund has over $150 million in total web. possessions, according to a July news release, and its financial investment in. Invenergy consists of 14.65% of that fund's overall investments.
The fund is likewise heavily invested in NextEra Energy,. the biggest U.S. renewable resource designer.
Both companies have praised the IRA as practical to their. businesses.
Cantor Fitzgerald has over $13 billion in possessions under. management and offers a broad selection of financial services.
(source: Reuters)