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Day: April 24, 2024

Cost of doing business with Iran? US warns Pakistan of sanctions risk

Cost of doing business with Iran? US warns Pakistan of sanctions risk

Islamabad, Pakistan – The United States has warned Pakistan of the risk of sanctions after it promised greater security and economic cooperation with Iran during a visit by President Ebrahim Raisi. The first Iranian president to visit the South Asian country in eight years, Raisi concluded his three-day trip on Wednesday as the neighbouring countries said they would increase bilateral trade to $10bn a year over the next five years, from the current $2bn. Pakistan’s foreign office said the two sides additionally agreed to cooperate in the energy sector including trade in electricity, power transmission lines and the Iran-Pakistan gas pipeline project. The gas pipeline project has languished for more than a decade because of political turmoil and international sanctions. The US Department of State on Tuesday cautioned the Pakistani government of engaging in business deals with Iran. “We advise anyone considering business deals with Iran to be aware of the potential risk of sanctions. But ultimately, the government of Pakistan can speak to their own foreign policy pursuits,” spokesperson Vedant Patel said during a news briefing. Foreign policy expert Muhammad Faisal said the United States threats of sanctions are merely meant to dissuade Pakistan and “increase the cost of doing business with Iran”. “Any expansion of formal trade and banking activity between the two nations will be slow, as Pakistani banks are reluctant to do direct business with Iranian banks,” he told Al Jazeera. A wide-ranging list of business-related activities with Iran can trigger US sanctions, and the regulations also bar business dealings with Iranian financial institutions. The pipeline was to stretch more than 1,900km (1,180 miles) from Iran’s South Pars gas field to Pakistan to meet Pakistan’s rising energy needs. Iran said it has already invested $2bn to construct the pipeline on its side of the border, making it ready to export. However, the project is yet to take off from the Pakistani side due to fears of US sanctions. Pakistan indicated last month that it will try and seek a waiver from the US to construct the pipeline on its territory. Washington’s efforts to restrict Iran’s income from oil and petroleum products go back decades. It has additionally sanctioned hundreds of entities and people in Iran – from the central bank to government officials – accused of materially supporting Iran’s Islamic Revolutionary Guard Corps and armed groups such as Palestine’s Hamas, Lebanon’s Hezbollah and Yemen’s Houthis. The US and the United Kingdom this month imposed a new round of sanctions on Iran after its unprecedented attack on Israel, but the punitive measures were limited in scope and there have been questions over how effective the sanctions regime has been overall. “Islamabad is cognisant of these constraints and both sides have been exploring ‘out-of-the-box’ solutions for expanding bilateral trade through barter system and border markets with the involvement of local chambers of commerce,” Faisal said. Pakistan has little leverage During his visit, Raisi met the country’s top leadership, including Prime Minister Shehbaz Sharif and army chief General Asim Munir. The visit came as the two countries try to repair their frayed relationship following heightened tensions in January when Iran launched attacks on Pakistani territory on what it said were bases of armed group Jaish al-Adl. In less than 48 hours, the Pakistani military carried out strikes in Iran on what it said were “hideouts used by terrorist organisations”. Yet, the implied threat of sanctions comes at a challenging time for Pakistan, which is mired in economic woes and is seeking financial help from its allies, including key partners such as Saudi Arabia, the United Arab Emirates and the US, three countries that are considered rivals of Iran. Sharif was in Saudi Arabia this month to meet Crown Prince Mohammed bin Salman and is expected to travel to the kingdom again next week. Kamran Bokhari, a senior director at the Washington, DC-based New Lines Institute for Strategy and Policy, said Pakistan cannot afford to get caught in the middle of a conflict between the US and Iran. “Those two countries are engaged in their own rivalry and Iran sees itself in ascendancy at the moment due to situation in the Middle East,” Bokhari told Al Jazeera, referring to Israel’s war on Gaza. “The US wants to contain Iran and the tools it has are sanctions. Now Pakistan needs the US and Western goodwill to help it deal with its economic crisis,” he said, adding that it should “steer clear of any move that risks it”. Pakistan must identify what’s best for its national interest if it is to successfully juggle its relationships with Iran and the US and “maintain engagement with both”, Faisal said, but it should focus on expanding trade and energy cooperation with Iran. The future of the Pakistan-Iran relationship depends on Pakistan’s ability to use its limited leverage, said Bokhari. “If the US tells Pakistan ‘You cannot do business with Iran’, then they should ask Washington ‘Could you instead help us in what we need?’” Bokhari said. Adblock test (Why?)

Mississippi Senate and House haggle over Medicaid expansion as session nears end

Mississippi Senate and House haggle over Medicaid expansion as session nears end

Top Mississippi lawmakers started negotiating Tuesday on what could become a landmark plan to expand Medicaid coverage to tens of thousands of people in one of the poorest states in the U.S. But even with Republicans controlling both the state House and Senate, it’s far from clear that they will reach a compromise during the final days of their four-month session that is scheduled to end by early May. Mississippi is among the 10 states that have not expanded Medicaid coverage to people who work low-wage jobs that don’t provide private health insurance. Expansion is an option under the federal health care overhaul signed into law in 2010 by then-President Barack Obama. MEDICAID OFFICES SUE FOR DEAD PEOPLE’S HOMES TO COVER HEALTH CARE COSTS WITHOUT WARNING, CRITICS SAY Republican Gov. Tate Reeves has said for years that he opposes putting more people on government programs. Expansion is getting its first serious discussion in the Mississippi Capitol this year because the new House speaker, Republican Jason White, says it is one of his priorities. The House voted by a wide bipartisan margin in late February to expand Medicaid coverage to about 200,000 people who earn up to 138% of the federal poverty level, or $20,120 annually for one person. Mississippi has about 3 million residents, and its Medicaid program covered 374,823 people in March. In late March, the Senate passed its own pared-down version that would extend eligibility to people earning up to 100% of the federal poverty level, just over $15,000 for one person. Senate Medicaid Committee Chairman Kevin Blackwell, a Republican from Southaven, said about 80,000 people would become eligible for coverage but he thought about half that number would enroll. House Medicaid Committee Chairwoman Missy McGee, a Republican from Hattiesburg, offered a compromise Tuesday. It would allow Mississippi to receive the full amount of federal money possible for Medicaid expansion. People earning up to 100% of the federal poverty level would be covered by Medicaid, while those earning between 100% and 138% of the federal poverty level would receive subsidies to buy insurance through a federal health insurance exchange. Senators offered no new proposals Tuesday and did not immediately respond to the one from the House. Blackwell said it’s significant that the two chambers are discussing expansion, but he cautioned against moving fast. “In the House’s case, I think you guys want to jump in the sports car and zoom right to expansion — damn the roadblocks and let’s get there,” Blackwell said. “Those of us in the Senate want to take sort of a more slower approach to that.” McGee responded: “I don’t feel like we have been in a Ferrari very long. I think we have been waiting 10 years. … We don’t need to push this off any longer for our low-income yet hardworking Mississippians.” Mississippi legislators usually meet in private to negotiate final versions of bills, but they agreed this year to hold open meetings on Medicaid expansion. Tuesday’s meeting ended up as standing-room only, with some spectators arriving hours early.

George Santos ends congressional run less than 2 months into independent campaign

George Santos ends congressional run less than 2 months into independent campaign

Former U.S. Rep. George Santos has announced the end of his independent campaign to re-enter the House less than two months into his run. Santos was running to unseat Rep. Nick LaLota — a Republican who represents New York’s 1st Congressional District — after being expelled from Congress earlier this year. “I have decided to withdraw from my independent run for NY-1,” Santos announced via social media on Tuesday. “I don’t want my run to be portrayed as a reprisal against Nick Lalota” EXPELLED GEORGE SANTOS ANNOUNCES BID FOR RETURN TO CONGRESS AS INDEPENDENT “Although Nick and I don’t have the same voting record and I remain critical of his abysmal record, I don’t want to split the ticket and be responsible for handing the house to Dems,” Santos continued, citing r. “It is clear that with the rise of antisemitism in our country we cannot afford to hand the house to Dems as they have a very large issue with antisemitism in their ranks.” The freshman lawmaker was expelled a year into his first term in the House in the wake of a damning House Ethics Committee report that found he misused campaign funds on luxury items and OnlyFans, among other things. He has not been convicted of a crime, but he has been indicted on multiple counts related to wire fraud, identity theft, falsification of records, credit card fraud and other charges. He has pleaded not guilty. MEET THE FORMER DEM CONGRESSMAN FACING MORE FEDERAL CHARGES THAN GEORGE SANTOS Santos launched his independent campaign for NY-1 in March, despite having previously represented a different New York district. His campaign committee reported zero expenditures and zero fundraising income in a filing to the Federal Elections Commission. “The future holds countless possibilities and I am ready willing and able to step up to the plate and go fight for my country at anytime,” Santos said on Tuesday. “I will continue to participate in the public policy discussions and will do my part.” He concluded, “I will always strive to stand on the right side of history. It’s only goodbye for now, I’ll be back.”