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US sanctions Iran’s central bank after Saudi attacks

US Treasury Secretary Steven Mnuchin, accompanying Trump in the Oval office, said the central bank was Tehran’s last source of funds.

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Washington, Sep 21 : The US has imposed sanctions on Iran’s central bank and its national development fund following attacks on Saudi Arabia’s oil facilities a week ago.

US President Donald Trump announced the new move at the White House on Friday before a meeting with visiting Australian Prime Minister Scott Morrison, calling the new sanctions on Tehran “the highest sanctions ever imposed on a country”, Xinhua reported.

US Treasury Secretary Steven Mnuchin, accompanying Trump in the Oval office, said the central bank was Tehran’s last source of funds.

“We’ve now cut off all source of funds to Iran,” he added.

US Treasury later announced in a statement that it has blacklisted Iran’s central bank and its national development fund, which it claimed have been used to “move Iran’s foreign currency reserves for terrorist proxies”.

Etemad Tejarate Pars, an Iran-based company, was also designated as Washington accused it of concealing financial transfers for the Iranian government’s military purchases.

Mnuchin claimed in the statement that Treasury’s action was part of the US “maximum pressure campaign against Iran”, also alleging that Iran’s attack against Saudi Arabia is “unacceptable”.

Washington has been indicating that Iran was behind Saturday’s drone attacks on oil production facilities in eastern Saudi Arabia, a claim that has been strongly denied by Tehran.

The latest punishment came two days after Trump revealed in a tweet that he had instructed Mnuchin to “substantially increase Sanctions on the country of Iran”.

Following its unilateral exit from the 2015 Iran nuclear deal last year, Washington has been piling up pressure on Tehran through a series of sanctions in an effort to force it to return to negotiations. Iran, however, maintains a tough stance and vows to retaliate against the US’ anti-Iran moves.

Health

13 Israelis suffer facial paralysis post inoculation

“For at least 28 hours, I walked around with it (facial paralysis),” one person who had the side effect told Ynet.

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Vaccine

Jerusalem, Jan 17 : At least 13 Israelis suffered mild facial paralysis as a side effect after receiving the first Covid vaccine jabs, the Health Ministry said, adding that the count could be higher.

The officials have raised questions on whether or not to administer the second dose to these individuals the Health Ministry had recommended for the second dose, reported the Jerusalem Post.

“For at least 28 hours, I walked around with it (facial paralysis),” one person who had the side effect told Ynet.

“I can’t say it was completely gone afterwards, but other than that I had no other pains, except a minor pain where the injection was, but there was nothing beyond that.”

As for receiving the second dose, he admits he is undecided, but says that “it is important to note that this is something rare, and I don’t want people to avoid getting vaccinated – it’s important”.

“I recently came across, for example, someone vaccinated who was dealing with paralysis, and decided not to give her a second dose,” Galia Rahav, Director of the Infectious Diseases Unit at Sheba Medical Centre told Ynet.

“It is true that it can be given according to the Health Ministry, but I did not feel comfortable with it.”

She added that, “No one knows if this is connected to the vaccine or not. That’s why I would refrain from giving a second dose to someone who suffered from paralysis after the first dose.”

However, the Health Ministry has assured of the second dose only when the paralysis passes, Ynet reported.

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Lifestyle

Saudi Arabia, the Largest Producer of Oil, Will Now Create a City Without Cars or Roads

A Saudi statement said construction would start in the first quarter of 2021 and that the city was expected to contribute $48 billion to the kingdom’s gross domestic product and create 380,000 jobs.

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saudi arabia

Saudi Arabia‘s Crown Prince Mohammed bin Salman has come out with his latest vision for the nation which is the largest producer of oil – an ambitious non-carbon emissions city without cars or roads.

The project named “The Line” will be home to a million people and have no cars and no streets, Crown Prince Mohammed bin Salman said, Arab News reported. “The city will be a 170 kilometer belt of “hyper-connected future communities,” and will be built around the natural environment,” he said.

Prince Mohammed said there was a need to transform the concept of a conventional city into that of a futuristic one. “By 2050, one billion people will have to relocate due to rising CO2 emissions and sea levels. 90 per cent of people breathe polluted air,” he added.

“Why should we sacrifice nature for the sake of development? Why should seven million people die every year because of pollution? Why should we lose one million people every year due to traffic accidents? And why should we accept wasting years of our lives commuting?” he said, according to the report.

The project is part of the prince’s plans to build a zero-carbon city at NEOM, the first major construction project for the $500 billion flagship business zone aimed at diversifying the nation’s economy.

The prince later told reporters in the northwestern city of Al Ula that the project was the conclusion of three years of preparation, adding that its infrastructure would cost $100 billion to $200 billion.

“The backbone of investment in ‘The Line’ will come from the $500 billion support to NEOM by the Saudi government, PIF and local and global investors over 10 years,” he added.

The kingdom’s sovereign wealth fund, the Public Investment Fund (PIF), is the cornerstone investor in NEOM, a 26,500-square-km (10,230-square-mile) high-tech development on the Red Sea with several zones, including an industrial and logistics areas, planned for completion in 2025.

There have been few announcements regarding NEOM since it was announced by de facto ruler Prince Mohammed to much fanfare in 2017 as a pillar of his Vision 2030 plan to rid Saudi Arabia of its reliance on crude oil revenues.

A Saudi statement said construction would start in the first quarter of 2021 and that the city was expected to contribute $48 billion to the kingdom’s gross domestic product and create 380,000 jobs.

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Business

OPEC allows Russia, Kazakhstan to raise output

Kazakhstan will boost its production by 10,000 bpd to 14,27,000 bpd in February and by another 10,000 bpd to 14,37,000 bpd in March.

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OPEC

Moscow, Jan 6 : The Organization of Petroleum Exporting Countries (OPEC) and non-bloc producers agreed to allow Russia and Kazakhstan to slightly raise oil output in the next two months.

In accordance with a deal published by the OPEC, Russia will increase its output by 65,000 barrels per day (bpd) from the January level to 91,84,000 bpd in February and by another 65,000 bpd to 9,249,000 bpd in March, the Xinhua news agency reported.

Kazakhstan will boost its production by 10,000 bpd to 14,27,000 bpd in February and by another 10,000 bpd to 14,37,000 bpd in March.

All the remaining participants in the OPEC+ mechanism will keep their output unchanged from January.

The OPEC+ has introduced caps on production to stabilize global oil prices.

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