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France, Germany and UK to trade with Iran without Dollars

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France, Germany and UK to trade with Iran without Dollars

Sergei Lavrov, the Russian foreign minister has said that three major European countries: France, Germany and the UK, have agreed to maintain trade with Iran independent from the US dollar, Reuters reported on Monday.

The European countries are under increasing pressure from Washington to cut business ties with Tehran since US President Donald Trump has unilaterally withdrew from the nuclear deal also known as Joint Comprehensive Plan of Action (JCPOA) on May 8 this year.

Trump also announced to reinstate US nuclear sanctions on Iran and impose “the highest level” of economic bans.

Read More:Iran ask EU to stand up against US for Nuclear deal

According to RT, a Russian international television network, Lavrov said that the decision particularly concerns small and medium-sized companies. He explained that the participants in the Iranian nuclear deal have agreed to work out measures to protect the countries’ business from US sanctions.

He has reportedly said, “Everyone agrees that this is an absolutely illegal and unacceptable policy, but, of course, this can hardly be changed and there will be enough struggle in trade, economic and political spheres.” 

France, Germany and UK to trade with Iran without DollarsThe top Russian diplomat added that the remaining parties to the Iran nuclear deal have agreed to work out measures to protect the countries’ business from US sanctions.

Read More: Russia, China to Continue Support Iran Nuclear Deal

Last week, EU lawmakers gave approval for the European Investment Bank (EIB) to do business in Iran in an attempt to save the 2015 nuclear deal.

Siegfried Muresan, a lawmaker from the centre-right European People’s Party, while talking to Reuters, said, “We are granting the EIB the capacity to invest in Iran if suitable projects are found. The Iran deal is good for Europe’s security.”

US sanctions will be re-imposed in two phases, with a first round returning in August, and with the harshest sanctions returning in early November. The Iran nuclear deal was signed by five Security Council members: US, Russia, Britain, France and China plus Germany, also known as P5+1, in July 2015 and was implemented in January 2016.

Read More: Iran Receives G-77 Support against US Tirade on Nuclear Deal

Under the deal Iran undertook to put limits on its nuclear program in exchange for the removal of nuclear-related sanctions imposed against Tehran.

After US President Donald Trump’s announcement of withdrawing from the multilateral deal European countries have been scrambling to ensure that Iran gets enough benefits to persuade it to stay in the deal.

However, Tehran has conditioned its stay with deal to practical European strides to make sure Iran’s dividends from the deal would not be affected when US sanctions are re-imposed in August which would affect Iran’s automotive sector, gold trade and other industries.

Second set of sanctions on oil and transactions with the central bank of Iran are scheduled to come into effect in early November. European companies engaged  in business with Iran face potential US penalties as most of the transactions are currently conducted in US dollars.

On Friday, Iranian foreign minister Javad Zarif said that all the remaining signatories to the 2015 nuclear deal have political will to stand up to the US move to withdraw from the deal.

However, Zarif warned that if European side fails to properly fulfil their commitments, Tehran would take its own measures to counter the US move of withdrawing from the deal.

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ChatGPT outage affects thousands of users globally, OpenAI reacts

OpenAI swiftly acknowledged the outage, publishing updates on their dedicated status page. This transparency, while offering little in the way of immediate solutions, served to reassure users that the company was actively addressing the situation.

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On January 23, OpenAI’s popular AI chatbot, ChatGPT, suffered a significant global outage, leaving millions of users unable to access the service. The disruption affected multiple access points, including the web interface, the mobile application, and even integrations on social media platforms like X (formerly Twitter). This widespread failure quickly drew significant attention, with reports flooding in from users worldwide.

The outage tracking website, Downdetector, registered a surge in user reports, exceeding a thousand complaints within a short period. This volume underscored the scale of the disruption and the significant impact on ChatGPT’s user base.

The majority of these reports indicated a complete inability to use the chatbot, highlighting the severity of the problem. A smaller percentage of users reported encountering difficulties with the website or API, suggesting a less comprehensive but still noticeable impact.

OpenAI swiftly acknowledged the outage, publishing updates on their dedicated status page. This transparency, while offering little in the way of immediate solutions, served to reassure users that the company was actively addressing the situation.

The official statements consistently described the problem as “degraded performance” and “elevated error rates” within the API, hinting at underlying technical issues that required investigation. However, specific details regarding the root cause remained undisclosed, pending a more thorough examination.

According to reports, the outage commenced around 5 PM IST and persisted for several hours. The lack of a definitive timeline and the ongoing nature of the disruption underlined the complexity of the problem and the challenges faced by OpenAI’s engineering teams in resolving the issue.

As of the latest updates, the exact cause of the outage remains under investigation by OpenAI. The company is actively working to restore full functionality and provide a more comprehensive explanation once the underlying problem has been identified and rectified.

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Prince Harry, Rupert Murdoch’s UK group reach settlement in surveillance case

The relentless media attention, he has claimed, also contributed to the intense pressure that led him and his wife, Meghan Markle, to step back from royal duties and relocate to the United States in 2020.

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Prince Harry has reached a settlement with Rupert Murdoch’s News Group Newspapers (NGN), bringing an abrupt end to a high-profile lawsuit alleging widespread phone hacking and unlawful surveillance.

The settlement, announced just as the trial was about to commence, includes substantial financial compensation for the Duke of Sussex and a formal, unequivocal apology from NGN. This marks a significant victory for Harry, who had accused the media giant of years of intrusive and illegal activities targeting his private life.

The apology, issued directly to Harry’s legal team, explicitly acknowledged the serious breach of privacy inflicted by both The Sun and the defunct News of the World. It detailed unlawful actions perpetrated between 1996 and 2011, including phone hacking, surveillance, and the use of private investigators to obtain sensitive information.

The statement specifically addressed the intrusive activities carried out by private investigators employed by The Sun, emphasizing the severity of the intrusion into Harry’s private life during his formative years. The apology extended to the distress caused to his late mother, Princess Diana, highlighting the impact of the media’s actions on the young prince.

This settlement represents one of three lawsuits filed by Harry against British media outlets, all stemming from accusations of privacy violations. He has consistently blamed the media for the relentless pursuit of his mother, Princess Diana, ultimately leading to her tragic death in a car crash in Paris while being chased by paparazzi.

The relentless media attention, he has claimed, also contributed to the intense pressure that led him and his wife, Meghan Markle, to step back from royal duties and relocate to the United States in 2020.

The case underscores the wider issue of phone hacking and media intrusion, exemplified by the notorious scandal that forced the closure of News of the World in 2011. The hacking of murdered schoolgirl Milly Dowler’s phone, during the police investigation into her disappearance, remains a particularly egregious example of the unethical practices employed by some sections of the British press.

Harry’s legal battle has brought renewed focus to this issue and the need for greater accountability within the media industry. The settlement, while ending this particular legal chapter, leaves a lasting legacy concerning media responsibility and the rights of public figures to privacy.

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China reacts to Donald Trump’s 10% tariff remarks, says it would protect its national interest

While acknowledging a willingness to maintain open communication channels and collaborative efforts with the U.S., China firmly rejected the notion of a trade war, emphasizing that such conflicts ultimately yield no winners.

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China has issued a firm response to US President Donald Trump’s renewed threat to impose a 10% tariff on Chinese imports, beginning February 1. The statement, released by the Chinese foreign ministry, underscores Beijing’s unwavering commitment to safeguarding its national interests amidst escalating trade tensions with the United States.

While acknowledging a willingness to maintain open communication channels and collaborative efforts with the U.S., China firmly rejected the notion of a trade war, emphasizing that such conflicts ultimately yield no winners.

The statement directly addresses Trump’s justification for the proposed tariffs, citing the flow of fentanyl from China through Mexico and Canada into the United States. This latest escalation marks a significant development in the long-standing trade dispute between the two economic giants.

The proposed tariffs, scheduled for implementation on February 1st, echo a similar threat made by Trump earlier, targeting Canada and Mexico with 25% tariffs over concerns about illegal immigration and fentanyl trafficking.

This consistent pattern of utilizing tariffs as a tool to address broader geopolitical concerns highlights the complex and multifaceted nature of the relationship between the United States and its major trading partners.

China’s economy, heavily reliant on exports to sustain its economic growth, faces significant vulnerability to such protectionist measures. Despite ongoing efforts to diversify its economy and boost domestic consumption, exports remain a crucial pillar of China’s economic engine. The potential impact of a 10% tariff on Chinese goods entering the U.S. market could trigger substantial ripple effects throughout the global economy.

The current trade tensions represent a continuation of a protracted struggle dating back to the Trump administration’s first term, marked by the imposition of substantial tariffs on Chinese imports over alleged unfair trade practices.

These actions were further reinforced by the subsequent Biden administration, which implemented sweeping measures aimed at restricting Chinese access to critical high-tech components.

Trump’s recent pronouncements signal a potential further escalation of these long-standing trade disputes. China’s response clearly indicates its readiness to defend its economic interests and navigate the complex landscape of international trade relations.

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