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World Trade Organization member countries have approved the Bali package of agreements. The decision was traditionally taken by a consensus. The countries officially adopted the agreement on trade procedures, five agrarian documents, including a food security agreement and a declaration on export competition, and four documents to support least developed countries. The Bali package forms a basis to conclude the Doha round of WTO talks, deadlocked since 2008, to liberalize world trade. The talks are aimed at lowering tariffs on trade in agricultural products and industrial goods.

Today, WikiLeaks released the secret draft text for the Trade in Services Agreement (TISA) Financial Services Annex, which covers 50 countries and 68.2%1 of world trade in services. The US and the EU are the main proponents of the agreement, and the authors of most joint changes, which also covers cross-border data flow. In a significant anti-transparency manoeuvre by the parties, the draft has been classified to keep it secret not just during the negotiations but for five years after the TISA enters into force. Despite the failures in financial regulation evident during the 2007-2008 Global Financial Crisis and calls for improvement of relevant regulatory structures2, proponents of TISA aim to further deregulate global financial services markets. The draft Financial Services Annex sets rules which would assist the expansion of financial multi-nationals – mainly headquartered in New York, London, Paris and Frankfurt – into other nations by preventing regulatory barriers. The leaked draft also shows that the US is particularly keen on boosting cross-border data flow, which would allow uninhibited exchange of personal and financial data. TISA negotiations are currently taking place outside of the General Agreement on Trade in Services (GATS) and the World Trade Organization (WTO) framework. However, the Agreement is being crafted to be compatible with GATS so that a critical mass of participants will be able to pressure remaining WTO members to sign on in the future. Conspicuously absent from the 50 countries covered by the negotiations are the BRICS countries of Brazil, Russia, India and China. The exclusive nature of TISA will weaken their position in future services negotiations. The draft text comes from the April 2014 negotiation round - the sixth round since the first held in April 2013. The next round of negotiations will take place on 23-27 June in Geneva, Switzerland.

Fars News published the full text of the deal. It’s provisions are as follows:

“It was the best of times, it was the worst of times.” These are the words used by the English writer Charles Dickens to describe the world after the Industrial Revolution. Today, we also live in a world of contradictions. On the one hand, with growing material wealth and advances in science and technology, human civilization has developed as never before. On the other hand, frequent regional conflicts, global challenges like terrorism and refugees, as well as poverty, unemployment and widening income gap have all added to the uncertainties of the world. Many people feel bewildered and wonder: What has gone wrong with the world? To answer this question, one must first track the source of the problem. Some blame economic globalization for the chaos in the world. Economic globalization was once viewed as the treasure cave found by Ali Baba in The Arabian Nights, but it has now become the Pandora’s box in the eyes of many. The international community finds itself in a heated debate on economic globalization.

Today, I wish to address the global economy in the context of economic globalization. The point I want to make is that many of the problems troubling the world are not caused by economic globalization. For instance, the refugee waves from the Middle East and North Africa in recent years have become a global concern. Several million people have been displaced, and some small children lost their lives while crossing the rough sea. This is indeed heartbreaking. It is war, conflict and regional turbulence that have created this problem, and its solution lies in making peace, promoting reconciliation and restoring stability. The international financial crisis is another example. It is not an inevitable outcome of economic globalization; rather, it is the consequence of excessive chase of profit by financial capital and grave failure of financial regulation. Just blaming economic globalization for the world’s problems is inconsistent with reality, and it will not help solve the problems.

But we should also recognize that economic globalization is a double-edged sword. When the global economy is under downward pressure, it is hard to make the cake of global economy bigger. It may even shrink, which will strain the relations between growth and distribution, between capital and labor, and between efficiency and equity. Both developed and developing countries have felt the punch. Voices against globalization have laid bare pitfalls in the process of economic globalization that we need to take seriously. As a line in an old Chinese poem goes, “Honey melons hang on bitter vines; sweet dates grow on thistles and thorns.” In a philosophical sense, nothing is perfect in the world. One would fail to see the full picture if he claims something is perfect because of its merits, or if he views something as useless just because of its defects. It is true that economic globalization has created new problems, but this is no justification to write economic globalization off completely. Rather, we should adapt to and guide economic globalization, cushion its negative impact, and deliver its benefits to all countries and all nations.

While many Americans have been led to believe the war in Afghanistan will soon be over, a draft of a key U.S.-Afghan security deal obtained by NBC News shows the United States is prepared to maintain military outposts in Afghanistan for many years to come, and pay to support hundreds of thousands of Afghan security forces.The wide-ranging document, still unsigned by the United States and Afghanistan, has the potential to commit thousands of American troops to Afghanistan and spend billions of U.S. taxpayer dollars.The document outlines what appears to be the start of a new, open-ended military commitment in Afghanistan in the name of training and continuing to fight al-Qaeda. The war in Afghanistan doesn’t seem to be ending, but renewed under new, scaled-down U.S.-Afghan terms. Advertise | AdChoices “The Parties acknowledge that continued U.S. military operations to defeat al-Qaeda and its affiliates may be appropriate and agree to continue their close cooperation and coordination toward that end,” the draft states.

The 25-page “Security and Defense Cooperation Agreement Between the United States of America and the Islamic Republic of Afghanistan” is a sweeping document, vague in places, highly specific in others, defining everything from the types of future missions U.S. troops would be allowed to conduct in Afghanistan, to the use of radios and the taxation of American soldiers and contractors.The bilateral security agreement will be debated this week in Kabul by around 2,500 village elders, academics and officials in a traditional Loya Jirga. While the Loya Jirga is strictly consultative, Afghan President Hamid Karzai has said he won’t sign it without the Jirga’s approval.

The copy of the draft -- the full text is available here --  is dated July 25, 2013. As a working draft, it is particularly revealing because it shows the back and forth negotiations, as U.S. and Afghan officials added words and struck out paragraphs. The changes are marked by annotations still revealed in the text. The document is a work in progress. US officials say there have been more changes since July. The draft, however, does indicate the scope of this possible agreement with major implications for Washington, Kabul, U.S. troops and the continuation of America’s longest war.Taken as a whole, the document describes a basic U.S.-Afghan exchange. Afghanistan would allow Washington to operate military bases to train Afghan forces and conduct counter-terrorism operations against al-Qaeda after the current mission ends in 2014. For that foothold in this volatile mountain region wedged between Pakistan and Iran, the United States would agree to sustain and equip Afghanistan's large security force, which the government in Kabul currently cannot afford. The deal, according to the text, would take effect on Jan. 1, 2015 and “shall remain in force until the end of 2024 and beyond.” It could be terminated by either Washington or Kabul with two years advance written notice.

The decree, published on the Russian Cabinet’s website, states that: “In connection with the imposition of restrictions on cooperation with the Russian Federation in nuclear energy by the United States of America … to suspend the agreement between the government of the Russian Federation and the government of the United States of America on cooperation in research and development in the nuclear and energy sectors of September 16, 2013″. The Russian Foreign Ministry has been instructed to send a written notification of the suspension of the agreement to the United States. An explanatory note in the decree explains that “the actions taken by the US in connection with imposing sanctions against Russia have directly affected the areas of cooperation envisaged by the agreement. … The regular extension of anti-Russian sanctions by the US, which include the suspension of the Russian-US cooperation in nuclear energy, requires countermeasures against the American side”.

The decree also announces the termination of an agreement between the Rosatom State Corporation and the US Department of Energy. “To accept the proposal of the Rosatom State Nuclear Energy Corporation and the Russian Foreign Ministry agreed with the Russian Defense Ministry, the Russian Federal Security Service and the Russian Foreign Intelligence Service on terminating the executive agreement between the Rosatom State Nuclear Energy Corporation and the US Department of Energy on cooperation in conducting research of the possible conversion of Russian research reactors for the use of the low enriched uranium fuel of December 7, 2010,” the decree reads. The agreement was signed on June 14, 2013. The bilateral framework on threat reduction aimed at long-standing US – Russian partnership on nonproliferation. This framework of the agreement was built on the 1992 Agreement between the United States of America and the Russian Federation Concerning the Safe and Secure Transportation, Storage and Destruction of Weapons and the Prevention of Weapons Proliferation, commonly known as the Nunn-Lugar Cooperative Threat Reduction (CTR) Umbrella Agreement, which expired on June 17, 2013.

The, now suspended, agreement also stipulates future joint nuclear security activities in the Russian Federation that will be conducted under the 2003 Framework Agreement on a Multilateral Nuclear Environmental Programme in the Russian Federation (MNEPR) and a related bilateral Protocol signed on June 14, 2013 in Washington, D.C.

A Senate security officer stepped out of the December chill last year and delivered envelopes marked “Top Secret” to the Pentagon, the C.I.A., the State Department and the Justice Department. Inside each packet was a disc containing a 6,700-page classified report on the C.I.A.’s secret prison program and a letter from Senator Dianne Feinstein, urging officials to read the report to ensure that the lessons were not lost to time. Today, those discs sit untouched in vaults across Washington, still in their original envelopes. The F.B.I. has not retrieved a copy held for it in the Justice Department’s safe. State Department officials, who locked up their copy and marked it “Congressional Record — Do Not Open, Do Not Access” as soon as it arrived, have not read it either. Continue reading the main story Related Coverage document The Senate Committee’s Report on the C.I.A.’s Use of TortureDEC. 9, 2014 Panel Faults C.I.A. Over Brutality and Deceit in Terrorism InterrogationsDEC. 9, 2014 Senate Votes to Turn Presidential Ban on Torture Into LawJUNE 16, 2015 Outside Psychologists Shielded U.S. Torture Program, Report FindsJULY 10, 2015 Nearly a year after the Senate released a declassified 500-page summary of the report, the fate of the entire document remains in limbo, the subject of battles in the courts and in Congress. Until those disputes are resolved, the Justice Department has prohibited officials from the government agencies that possess it from even opening the report, effectively keeping the people in charge of America’s counterterrorism future from reading about its past. There is also the possibility that the documents could remain locked in a Senate vault for good.

In a letter to Attorney General Loretta E. Lynch last week, Ms. Feinstein, a California Democrat, said the Justice Department was preventing the government from “learning from the mistakes of the past to ensure that they are not repeated.”Although Ms. Feinstein is eager to see the document circulated, the Senate is now under Republican control. Her successor as head of the Intelligence Committee, Senator Richard M. Burr of North Carolina, has demanded that the Obama administration return every copy of the report. Mr. Burr has declared the report to be nothing more than “a footnote in history.”It was always clear that the full report would remain shielded from public view for years, if not decades. But Mr. Burr’s demand, which means that even officials with top security clearances might never read it, has reminded some officials of the final scene of “Raiders of the Lost Ark,” when the Ark of the Covenant is put into a wooden crate alongside thousands of others in a government warehouse of secrets.

The full report is not expected to offer evidence of previously undisclosed interrogation techniques, but the interrogation sessions are said to be described in great detail. The report explains the origins of the program and names the officials involved. The full report also offers details on the role of each agency in the secret prison program.The Justice Department, which played a central role in approving the interrogation methods, has even prohibited its own officials from reading the full report.“The Department of Justice was among those parts of the executive branch that were misled about the program, and D.O.J. officials’ understanding of this history is critical to its institutional role going forward,” Ms. Feinstein wrote to the Justice Department last week in a letter she signed with Senator Patrick J. Leahy of Vermont, the top Democrat on the Judiciary Committee.In court, Justice Department lawyers have agreed with Mr. Burr’s contention that the document belongs to Congress. As evidence, they point to an agreement between the C.I.A. and the Senate as the Intelligence Committee began its lengthy investigation. The Senate was under Democratic control at the time.

But now that Mr. Netanyahu has won after aggressively campaigning against a Palestinian state and Mr. Obama’s potential nuclear deal with Iran, the question is whether the president and prime minister can ever repair their relationship — and whether Mr. Obama will even try.On Wednesday, part of the answer seemed to be that the president would not make the effort. Continue reading the main story Related Coverage Win in Israel Sets Netanyahu on Path to Rebuild and Redefine GovernmentMARCH 18, 2015 Palestinian Leaders See Validation of Their Statehood EffortMARCH 18, 2015 Netanyahu Soundly Defeats Chief Rival in Israeli ElectionsMARCH 17, 2015 News Analysis: Deep Wounds and Lingering Questions After Israel’s Bitter RaceMARCH 17, 2015 In strikingly strong criticism, the White House called Mr. Netanyahu’s campaign rhetoric, in which he railed against Israeli Arabs because they went out to vote, an attempt to “marginalize Arab-Israeli citizens” and inconsistent with the values that bind Israel and the United States. The White House press secretary, Josh Earnest, told reporters traveling with Mr. Obama on Air Force One on Wednesday that Mr. Netanyahu’s statement was “deeply concerning and it is divisive and I can tell you that these are views the administration intends to communicate directly to the Israelis.”

And with Mr. Netanyahu’s last-minute turnaround against a Palestinian state alongside Israel, several administration officials said that the Obama administration may now agree to passage of a United Nations Security Council resolution embodying principles of a two-state solution that would be based on the pre-1967 lines between Israel and the West Bank and Gaza Strip and mutually agreed swaps.Most foreign policy experts say that Israel would have to cede territory to the Palestinians in exchange for holding on to major Jewish settlement blocks in the West Bank.

Such a Security Council resolution would be anathema to Mr. Netanyahu. Although the principles are United States policy, until now officials would never have endorsed them in the United Nations because the action would have been seen as too antagonistic to Israel.Continue reading the main story “The premise of our position internationally has been to support direct negotiations between the Israelis and the Palestinians,” a senior White House official said. “We are now in a reality where the Israeli government no longer supports direct negotiations. Therefore we clearly have to factor that into our decisions going forward.”

An October 7, 2015 hearing before the US Senate Committee on Armed Forces (SASC) titled, “Iranian Influence in Iraq and the Case of Camp Liberty,” served as a reaffirmation of America’s commitment to back the terrorist organization Mujahedeen e-Khalq (MEK) and specifically 2,400 members of the organization being harbored on a former US military base in Iraq.

Providing testimony was former US Senator Joseph I. Lieberman, former US Marine Corps Commandant and former Supreme Allied Commander Europe General James Jones, USMC (Ret.), and Colonel Wesley Martin, US Army (Ret.). All three witnesses made passionate pleas before a room full of nodding senators for America to continue backing not only MEK terrorists currently harbored on a former US military base in Iraq, but to back groups like MEK inside of Iran itself to threaten the very survival of the government in Tehran. In the opening remarks by Lieberman, he stated: It was not only right and just that we took them off the foreign terrorist organization list, but the truth is now that we ought to be supportive of them and others in opposition to the government in Iran more than we have been.

Lieberman would also state (emphasis added): Here’s my point Mr. Chairman, we ought to compartmentalize that agreement also, that nuclear agreement. We ought to put it over there, and not let it stop us from confronting what they’re doing in Syria. Continuing the sanctions for human rights violations in Iran in support of terrorism. And here’s the point I want to make about the National Council of Resistance of Iran and other democratic opposition groups that are Iranian – we ought to be supporting them.  This regime in Tehran is hopeless. It’s not going to change. There’s no evidence … every piece of evidence says the contrary. So I hope we can find a way, we used to do this not so long ago, supporting opposition groups in Iran. They deserve our support, and actually they would constitute a form of pressure on the government in Tehran that would unsettle them as much as anything else we could do because it would threaten the survival of the regime which from every objective indicator I can see is a very unpopular regime in Iran.  The United States, unrepentant regarding the arc of chaos, mass murder, terrorism, civilizational destruction it has created stretching from Libya to Syria, now seeks openly to extend it further into Iran using precisely the same tactics – the use of terrorist proxies – to dismantle and destroy Iranian society.

Europe’s highest court on Tuesday struck down an international agreement that allowed companies to move digital information like people’s web search histories and social media updates between the European Union and the United States. The decision left the international operations of companies like Google and Facebook in a sort of legal limbo even as their services continued working as usual.The ruling, by the European Court of Justice, said the so-called safe harbor agreement was flawed because it allowed American government authorities to gain routine access to Europeans’ online information. The court said leaks from Edward J. Snowden, the former contractor for the National Security Agency, made it clear that American intelligence agencies had almost unfettered access to the data, infringing on Europeans’ rights to privacy. The court said data protection regulators in each of the European Union’s 28 countries should have oversight over how companies collect and use online information of their countries’ citizens. European countries have widely varying stances towards privacy.

Data protection advocates hailed the ruling. Industry executives and trade groups, though, said the decision left a huge amount of uncertainty for big companies, many of which rely on the easy flow of data for lucrative businesses like online advertising. They called on the European Commission to complete a new safe harbor agreement with the United States, a deal that has been negotiated for more than two years and could limit the fallout from the court’s decision.

Some European officials and many of the big technology companies, including Facebook and Microsoft, tried to play down the impact of the ruling. The companies kept their services running, saying that other agreements with the European Union should provide an adequate legal foundation.But those other agreements are now expected to be examined and questioned by some of Europe’s national privacy watchdogs. The potential inquiries could make it hard for companies to transfer Europeans’ information overseas under the current data arrangements. And the ruling appeared to leave smaller companies with fewer legal resources vulnerable to potential privacy violations.

After almost two decades of discussion, the ASEAN Economic Community (AEC) will be proclaimed on 31st December. The AEC is a potentially significant and competitive economic region, should it be allowed to develop according to the aspiration of being a “single market and production base, with free flow of services, investments, and labour, by the year 2020”.

The ASEAN region as a composite trading block has the third highest population at 634 million, after China and India. GDP per capita is rapidly rising. The AEC would be the 4th largest exporter after China, the EU, and the United States, with still very much scope for growth from Cambodia, Myanmar, the Philippines, and Vietnam from a diverse range of activities ranging from agriculture, food, minerals and commodities, electronics, and services. The coming AEC is already the 4th largest importer of goods after the United States, EU, and China, making it one of the biggest markets in the world. Unlike the other trade regions, the AEC still has so much potential for growth with rising population, rising incomes, growing consumer sophistication, and improving infrastructure. Perhaps the biggest benefit of the upcoming AEC is the expected boost this will give to intra-ASEAN trade. Most ASEAN nations have previously put their efforts into developing external relationships with the major trading nations like the EU, Japan and the US through bilateral and free trade agreements. To some extent, the potential of intra-ASEAN trade was neglected, perhaps with the exception of the entrepot of Singapore. The AEC is an opportunity to refocus trade efforts within the region, especially when Vietnam, Cambodia, Indonesia are rapidly developing, and Myanmar is opening up for business with the rest of the region.

There are no integrated banking structures, no agreement on common and acceptable currencies (some ASEAN currencies are not interchangeable), no double taxation agreements, and no formal agreements on immigration. There is not even any such thing as a common ASEAN business visa. These issues are going to hinder market access for regional SMEs. Any local market operations will have to fulfil local laws and regulations which may not be easy for non-citizens to meet and adhere to. Even though there are some preferential tariffs for a number of classes of ASEAN originating goods, non-tariff barriers are still in existence, which are insurmountable in some cases like the need for import licenses (APs) in Malaysia, and the need to have a registered company which can only be formed by Thai nationals within Thailand. Some of these problems are occurring because of the very nature of ASEAN itself. ASEAN was founded on the basis of consultation, consensus, and non-interference in the internal affairs of other members. This means that no formal problem solving mechanism exists, and the ASEAN Secretariat is a facilitator rather than implementer of policy. Illegal workers, human trafficking, money laundering, and haze issues between member states have no formal mechanisms through which these issues can be solved from an ASEAN perspective. This weakens the force for regional integration.

Reports, including photographic evidence reveal that Israel is using an energy weapon to attack targets in Gaza. The destructive beam, thought to be a high energy laser, is emitted from a plane identified as a Boeing KC707 “Re’em,” originally configured for Electronic Warfare. Those observing the attacks cite a beam from a 4 engine jet hitting a target which immediately turns “white hot.” After these attacks, the target area is then hit with either bombs or artillery to destroy evidence of the use of an American designed and built energy weapon illegally given to Israel. BACKGROUND The weapon used is identified as part of the YAL 1 system, a COIL laser (chemical, oxygen/iodine laser), originally intended as an aircraft mounted system to shoot down ICBMs. Boeing approached the Department of Defense in 2002 and by 2004 had mounted its first system on a 747/400 previously flown by Air India. Boeing had convinced Secretary of Defense Donald Rumsfeld that this system, mounted on as many as 7 aircraft, could fly 24 hours a day around Iran and defend “the free world” against nuclear tipped ICBMs that Rumsfeld believed Iran was planning to use. Please note that it was Rumsfeld that told television audiences that Afghanistan was “peppered” with underground cities serviced by rail links that supported division sized Al Qaeda units that, after ten years, no one was able to locate.

Boeing tested the system in 2007. The Department of Defense claimed the system could shoot down low earth orbit satellites and that in tests conducted in 2010, destroyed multiple test missiles. There is no reliable confirmation of this other than a press release from then Secretary of Defense Robert Gates. CANCELLATION AND MYSTERIOUS DISAPPEARANCE The Center for Strategic Studies, in an interview with then Defense Secretary Gates published the following: “I don’t know anybody at the Department of Defense who thinks that this program should, or would, ever be operationally deployed. The reality is that you would need a laser something like 20 to 30 times more powerful than the chemical laser in the plane right now to be able to get any distance from the launch site to fire.” So, right now the ABL would have to orbit inside the borders of Iran in order to be able to try and use its laser to shoot down that missile in the boost phase. And if you were to operationalize this you would be looking at 10 to 20 747s, at a billion and a half dollars apiece, and $100 million a year to operate. And there’s nobody in uniform that I know who believes that this is a workable concept.”

After $5 billion was spent, the functioning prototype only capable of being fired directly at nearby targets, a system very capable of acquisition and destruction of ground targets with no air defense protection only, was said to have been flown to a scrap yard. The plane itself is still there, at Davis Monthan Air Force Base, with other failed dreams and nightmares. However, the weapons system disappeared, only to reappear in Israel as a “missile defense” project, an adjunct to the “Iron Dome” system. Israel’s Rafael Defense had been trying to develop laser weapons on its own to intercept rockets being fired from Gaza. It was never able to neither deploy a laser powerful enough nor develop a radar system able to be effective.

The Justice Department is preparing to announce that Barclays, JPMorgan Chase, Citigroup and the Royal Bank of Scotland will collectively pay several billion dollars and plead guilty to criminal antitrust violations for rigging the price of foreign currencies, according to people briefed on the matter who spoke on the condition of anonymity. Most if not all of the pleas are expected to come from the banks’ holding companies, the people said — a first for Wall Street giants that until now have had only subsidiaries or their biggest banking units plead guilty.

The Justice Department is also preparing to resolve accusations of foreign currency misconduct at UBS. As part of that deal, prosecutors are taking the rare step of tearing up a 2012 nonprosecution agreement with the bank over the manipulation of benchmark interest rates, the people said, citing the bank’s foreign currency misconduct as a violation of the earlier agreement. UBS A.G., the banking unit that signed the 2012 nonprosecution agreement, is expected to plead guilty to the earlier charges and pay a fine that could be as high as $500 million rather than go to trial, the people said.

Holding companies, while appearing to be the most important entities at the banks, are in less jeopardy of suffering the consequences of guilty pleas. Some banks worried that a guilty plea by their biggest banking units, which hold licenses that enable them to operate branches and make loans, would be riskier, two of the people briefed on the matter said. The fear, they said, centered on whether state or federal regulators might revoke those licenses in response to the pleas. Advertisement Continue reading the main story Behind the scenes in Washington, the banks’ lawyers are also seeking assurances from federal regulators — including the Securities and Exchange Commission and the Labor Department — that the banks will not be barred from certain business practices after the guilty pleas, the people said. While the S.E.C.’s five commissioners have not yet voted on the requests for waivers, which would allow the banks to conduct business as usual despite being felons, the people briefed on the matter expected a majority of commissioners to grant them.In reality, those accommodations render the plea deals, at least in part, an exercise in stagecraft. And while banks might prefer a deferred-prosecution agreement that suspends charges in exchange for fines and other concessions — or a nonprosecution deal like the one that UBS is on the verge of losing — the reputational blow of being a felon does not spell disaster.

A group of global banks will pay more than $5 billion U.S. in penalties and plead guilty to rigging the world’s currency market, the first time in more than two decades that major players in the financial industry have admitted to criminal wrongdoing. JPMorgan Chase, Citigroup, Barclays and The Royal Bank of Scotland conspired with one another to fix rates on U.S. dollars and euros traded in the huge global market for currencies, according to a resolution announced Wednesday between the banks and the U.S. Department of Justice. A group of currency traders, who called themselves “The Cartel,” allegedly shared customer orders through chat rooms and used that information to profit at the expense of their clients. The resolution is complex and involves multiple regulators in the U.S. and overseas.

The four banks will pay a combined $2.5 billion in criminal penalties to the DOJ for criminal manipulation of currency rates between December 2007 and January 2013, according to the agreement. The Federal Reserve is slapping them with an additional $1.6 billion in fines, as the banks’ chief regulator. Finally, British bank Barclays is paying an additional $1.3 billion to British and U.S. regulators for its role in the scheme. Another bank, Switzerland’s UBS, has agreed to plead guilty to manipulating key interest rates and will pay a separate criminal penalty of $203 million.

It is rare to see a bank plead guilty to wrongdoing. Even in the aftermath of the financial crisis, most financial companies reached “non-prosecution agreements” or “deferred prosecution agreements” with regulators, agreeing to pay billions in fines but not admitting any guilt. If any guilt were found, it was usually one of the bank’s subsidiaries or divisions — not the bank holding company.

Three leading figures of the Venezuelan opposition have released a statement amounting to a demand for regime change and the establishment of a transitional government in the country. Entitled “The Call for a National Transition Agreement,” the statement was circulated this Wednesday and appeals to Venezuelans to unite behind a national plan aimed at supplanting the current socialist administration of President Nicolas Maduro, elected on April 14th 2013 with approximately 51% of the vote.

Its signatories include currently jailed leader of the Popular Will Party, Leopoldo Lopez, former National Assembly Legislator, Maria Corina Machado and current Mayor of the Metropolitan Capital District of Caracas, Antonio Ledezma. All of the signatories are linked to the violent guarimbas or barricades which began in February 2014, when violent protestors and paramilitaries blocked the streets for several months in response to calls by Lopez and Machado to force the “exit” of the Maduro government.

“Our call is to construct an agreement to take the lead in the transition to peace. It is the obligation of all democrats to help resolve the current crisis, defend the cause of liberty, and prevent the unavoidable fall of the regime from disrupting the peace and constitutionality of the country, to make the transition, that’s to say, the change from one failed system to another which is full of hope,” reads the text. The publication of the statement comes just a day before the first anniversary of the barricades and represents a clear violation of the country’s Bolivarian Constitution, which only allows for the removal of the elected President of the Republic via a national referendum or indictment by the Supreme Court of Justice. In the text, the current government is described as a “failed” “corrupt” and “inefficient” regime, made up of an “elite of no more 100 people” who have pilfered public funds “which could have been used for the benefit of all”. It also states that Venezuela is on the brink of a “humanitarian crisis” whilst the Maduro government is “delegitimised” and in its “terminal phase”. The move comes amidst a mounting economic war against the country’s socialist revolution which has seen private businesses hoarding essential goods in order to cause public unrest, as well as a fresh round of US sanctions imposed on Venezuelan officials earlier in February.

The chairman of the Senate Foreign Relations Committee urged President Obama on Thursday not to seek a United Nations endorsement of the emerging nuclear agreement with Iran without first giving Congress a chance to vote on it.The warning was the latest twist in an increasingly tense standoff between the White House and congressional Republicans over the potential deal, which would impose limits on Iran’s nuclear program in return for lifting economic sanctions.“There are now reports that your administration is contemplating taking an agreement, or aspects of it, to the United Nations Security Council for a vote,” Senator Bob Corker, Republican of Tennessee, wrote in a letter to Mr. Obama, which was made public by his office.

“Enabling the United Nations to consider an agreement or portions of it” without allowing Congress to vote on the agreement would be “a direct affront to the American people and seeks to undermine Congress’s appropriate role,” Mr. Corker added.

The Obama administration does not plan to seek congressional approval for the potential accord, which is expected to last about 15 years.Secretary of State John Kerry acknowledged in testimony to Mr. Corker’s committee on Wednesday that without a congressional vote, the deal would not be “legally binding” on the succession of United States presidents who would be charged with carrying it out. But he said he was confident that future presidents would uphold an agreement as long as Iran fulfilled its obligations under the accord.

Nov 15 2013 (IPS) - Russian Foreign Minister Sergey Lavrov revealed a crucial detail Thursday about last week’s nuclear talks with Iran in Geneva that explains much more clearly than previous reports why the meeting broke up without agreement. Lavrov said the United States circulated a draft that had been amended in response to French demands to other members of the six-power P5+1 for approval “literally at the last moment, when we were about to leave Geneva.” Lavrov’s revelation, which has thus far been ignored by major news outlets, came in a news conference in Cairo Thursday that was largely devoted to Egypt and Syria. Lavrov provided the first real details about the circumstances under which Iran left Geneva without agreeing to the draft presented by the P5+1.

The full quote from Lavrov’s press conference is available thanks to the report from Voice of Russia correspondent Ksenya Melnikova. Lavrov noted that unlike previous meetings involving the P5+1 and Iran, “This time, the P5+1 group did not formulate any joint document.” Instead, he said, “There was an American-proposed draft, which eventually received Iran’s consent.” Lavrov thus confirmed the fact that the United States and Iran had reached informal agreement on a negotiating text. He further confirmed that Russia had been consulted, along with the four other powers in the negotiations with Iran (China, France, Germany and the UK), about that draft earlier in the talks –- apparently Thursday night, from other published information. “We vigorously supported this draft,” Lavrov said. “If this document had been supported by all [members of the P5+1], it would have already been adopted. We would probably already be in the initial stages of implementing the agreements that were offered by it.”

Then Lavrov revealed for the first time that the U.S. delegation had made changes in the negotiating text that had already been worked out with Iran at the insistence of France without having consulted Russia. “But amendments to [the negotiating draft] suddenly surfaced,” Lavrov said. “We did not see them. And the amended version was circulated literally at the last moment, when we were about to leave Geneva.” Lavrov implies that the Russian delegation, forced to make a quick up or down decision on the amended draft, did not realise the degree to which it was likely to cause the talks to fail. “At first sight, the Russian delegation did not notice any significant problems in the proposed amendments,” Lavrov said. He made it clear, however, that he now considers the U.S. maneuvre in getting the six powers on board a draft that had been amended with tougher language – even if softened by U.S. drafters — without any prior consultation with Iran to have been a diplomatic blunder.

A Free Trade Agreement (FTA) has been signed in Beijing by Mr. Össur Skarphéðinsson, Minister for Foreign Affairs and External Trade of Iceland, and Mr. Gao Hucheng, Minister of Commerce of the People’s Republic of China, in the presence of the Prime Minister of Iceland and the Premier of China. The agreement, signed on September 15, made Iceland the first European nation to sign and FTA with China. 

The central aim of the Iceland-China Free Trade Agreement is to promote trade by abolishing tariffs on imports and to further enhance economic ties between the two countries, reports the Ministry of Foreign Affairs (MoFA) of Iceland, adding that it is in essence similar to other FTAs that Iceland, as a member of European Free Trade Association (EFTA), has already concluded. The new bilateral FTA covers trade in goods and services, rules of origin, trade facilitation, intellectual property rights, competition and investment. Furthermore, the FTA entails that the two states should enhance their co-operation in a number of areas, including on labor matters and the environment, reports the MoFA of Iceland. A Joint Free Trade Commission will supervise the functioning of the FTA and establishes a framework for resolving trade issues that may arise in the future. The Iceland-China Free Trade Agreement will enter into force when legal procedures of acceptance in both countries have been concluded.

Following the meeting between Russian Foreign Minister Sergey Lavrov and U.S. Secretary of State John Kerry in the German city of Hamburg on Wednesday, the Russian Foreign Ministry confirmed that “an intense exchange of documents” had taken place and that c a compromise could possibly be reached. The statement comes amidst latest reports about Al-Nusra possibly agreeing to an evacuation from Aleppo and the possible deployment of special forces from Chechnya for anti-terrorism operations in Syria.

Russian Deputy Foreign Minister Sergei Ryabkov told the press that Russia and the United States are close to reaching an understanding on Aleppo. Rybakov said: “In the past several days an intensive document exchange on the situation in Aleppo has taken place…We are close to reaching an understanding, but I want to warn against high expectations.”

Ryabkov noted that the meeting between Lavrov and Kerry on Wednesday was an indicator of the intensive communications between the two sides, particularly because it was the second of its kind within the past few days. Ryabkov expressed hope that eventual new agreements between Moscow and Washington on Syria would be firmer compared to the previous agreement that collapsed last September. The previous agreements collapsed when Washington insisted that Russia stops targeting “moderate opposition fighters”, while Moscow blamed Washington for not assuring that the “moderate rebels” disengage and separate from Jabhat Al-Nusra (a.k.a. Jabhat Fatah Al-Sham). Both parties agree that Al-Nusra’s re-branding as Al-Sham hasn’t changed its status as a terrorist organization.

The Kiev ultra rightwing regime that Washington and Brussels railroaded into power in February this year, in an illegal coup d’état, has compounded fiscal bankruptcy with a seventh-month criminal war on the ethnic Russian population of the eastern Donbass regions, prompting up to a million refugees to stream across the border with Russia. Earlier this month, the International Monetary Fund (IMF) warned that Ukraine will need to find an additional $19 billion to avoid bankruptcy if the Kiev regime continues with its military operations in the east of the country. That is on top of the $17 billion that the IMF has already committed to Kiev following the CIA-backed coup against the elected government of President Victor Yanukovych. The legality and delivery of those IMF funds are questionable given the Washington-based institute’s own prohibition on funding states that are engaged in war.

This is the context for why Russia was obliged to put Ukraine on a prepayment basis over gas purchases back in June. At a trilateral negotiation in Brussels on September 26, the parties appeared to reach an agreement on a winter package of gas supply to Ukraine from Russia to cover the months of October to March inclusively, which would be based on a prepayment scheme. The payment rate agreed to was $385 per 1,000 cubic metres of natural gas. Granted, that payment rate is a lot more than what Moscow was previously supplying the Yanukovych government. But that was on a preferential basis to an ally. Given that the Kiev regime ousted this ally of Moscow and has shown unprecedented hostility towards Russia ever since the coup in February it is not unreasonable that Russian state-owned Gazprom has raised the price of its gas to $385, and especially because that figure is the average price paid by all European countries for Russian gas.

The fact is that Ukraine owes Russia $5.3 billion in unpaid gas bills going back several years. As Western consumer societies might just appreciate, if a customer does not make good on outstanding credit for a service or goods, then the supplier of that service is entitled by law to with-hold further delivery.