11, September 2019
Pope Francis tells U.K. to obey UN, give back Chagos Islands to Mauritius 0
Pope Francis said Tuesday that Britain should obey a U.N. resolution and return to Mauritius a disputed Indian Ocean archipelago that hosts the U.S. military base at Diego Garcia.
Francis cited Catholic doctrine in responding to a question about the Chagos Islands during an in-flight press conference as he flew home from a visit to three African countries, including Mauritius.
Francis said when countries give international organizations such as the United Nations or international tribunals the right to adjudicate disputes, those decisions must be respected.
“It’s true that not always things that seem ‘just’ for all of humanity are ‘just’ for our pockets,” he said. “But you must obey international institutions.”
Earlier this year, the U.N. General Assembly voted overwhelmingly to demand that Britain, which held onto the Chagos Islands after granting Mauritius independence in 1968, end its “colonial administration” and return the Chagos Islands to Mauritius.
The vote was taken after the International Court of Justice issued an advisory opinion in February saying that Britain illegally carved up Mauritius when it kept Chagos.
Britain, which calls the archipelago a “British Indian Ocean Territory,” has refused to abide by both non-binding decisions. It has argued that the archipelago never really belonged to Mauritius and that its continued presence there is strategically important.
Britain evicted about 2,000 people from the Chagos Islands in the 1960s and 1970s so the U.S. military could build the Diego Garcia air base. Some of the evacuees have lobbied ever since to be able to return, and a delegation attended Francis’ Mass on Tuesday in the Mauritian capital of Port Louis.
Francis is believed to be sympathetic to their plight, given that when he was archbishop of Buenos Aires, he spoke out against the British claim to the Falkland Islands, which Argentines call the Islas Malvinas.
The Chagos dispute came up during Francis’ meeting with the Mauritian president and prime minister, both of whom used their public speeches to thank Francis for the Vatican’s “moral support” in the dispute.
Francis said obeying international decisions was a sign of “fraternity” and “civility” among nations. He also noted that European powers have a history of trying to hold onto chunks of their former African colonies for continued financial gain, though he said he didn’t know if that was the case in Britain’s decision to keep Chagos.
While some liberation movements “worked out well, there is always the temptation to keep something in your pocket,” he said.
AP



















11, September 2019
Russia, China eye first bonds in yuan amid US trade war 0
Russia plans to issue its first yuan-denominated bond as the country is working with China to cut reliance on the US greenback, Russian broadcaster RT reports.
China and Russia are drawing increasingly close amid a changing global landscape marked by President Donald Trump’s “America First” policy and his trade war which involves multiple battles with US allies and others alike.
Beijing and Moscow have been planning yuan bonds since 2016, but the plan has been postponed several times. According to RT, Russia now expects to issues its first sovereign debt in the Chinese currency, officially called renminbi, by the end of the year or early next year.
Both countries are concerned about “the dollar hegemony” and see the launch as a stepping stone in their bid to break the dominion up, the network said.
“It’s a step towards de-dollarization,” investment strategist with Premier BCS Anton Bakhtin told RT. “Secondly, it’s an additional bridge between us and the Chinese investors.”
As tensions escalate with the US, world countries are becoming increasingly worried about Washington using global reliance on the dollar as a weapon.
However, it will take much more time to fully shift away from the greenback and countries are looking for additional financial instruments as protection.
Both China and Russia have been stockpiling gold. Since December, the People’s Bank of China has reportedly added about 100 tonnes of gold to its reserves. Russia has bought 106 tonnes of the precious metal this year.
Over the past decade, Russia has more than quadrupled its gold reserves to more than 2,200 tonnes and now owns the fifth-largest stockpile by country. China’s reserves reportedly stand at more than 1,950 tonnes.
Russian President Vladimir Putin has taken a special interest in breaking up America’s “exorbitant privilege” in the words of former French President Charles de Gaulle through the dollar hegemony.
In June, Putin urged five major emerging economic powers – Brazil, Russia, India, China and South Africa, known as BRICS – to accelerate developing a system that could replace the dollar.
China, on the other hand, is on a campaign to make the renminbi a global reserve currency and its rising gold reserves could add to world confidence in the currency.
China’s launch of yuan-denominated Shanghai futures in March generated a lot of enthusiasm around the world.
Experts say the new futures contract traded on the Shanghai International Energy Exchange is now on course to become an alternative international oil benchmark not priced in dollars.
Source: Presstv