EU Investigates after 3 Countries Ban Ukraine Grain Imports

Commercial vessels including vessels which are part of Black Sea grain deal wait to pass the Bosphorus strait off the shores of Yenikapi during a misty morning in Istanbul, Türkiye, October 31, 2022. (Reuters)
Commercial vessels including vessels which are part of Black Sea grain deal wait to pass the Bosphorus strait off the shores of Yenikapi during a misty morning in Istanbul, Türkiye, October 31, 2022. (Reuters)
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EU Investigates after 3 Countries Ban Ukraine Grain Imports

Commercial vessels including vessels which are part of Black Sea grain deal wait to pass the Bosphorus strait off the shores of Yenikapi during a misty morning in Istanbul, Türkiye, October 31, 2022. (Reuters)
Commercial vessels including vessels which are part of Black Sea grain deal wait to pass the Bosphorus strait off the shores of Yenikapi during a misty morning in Istanbul, Türkiye, October 31, 2022. (Reuters)

Slovakia became the third European Union country to ban food imports from Ukraine on Monday, deepening the challenge for the bloc as it works to help Ukraine transport its grain to world markets.

Slovakia followed Poland and Hungary, both of which announced bans Saturday on Ukrainian food imports through June 30. They did so in response to rising anger from farmers who say that a glut of grain in their countries is causing them economic hardship.

The EU’s executive branch, the European Commission, manages trade on behalf of the 27 member countries and objects to them taking unilateral or uncoordinated measures.

At a briefing in Brussels, two spokespeople stressed gratitude to Poland and other Central European countries for supporting Ukraine, but said a solution must be found that respects the EU legal framework.

"We are dealing with a war, right? And this war has consequences, obviously, on farmers and more generally, the population in Ukraine and the European Union and its member states," said Eric Mamer, chief spokesperson.

He acknowledged that Poland and other countries "have been doing their utmost in order to help Ukraine," adding: "So this is not about sanctioning. This is about finding solutions based on EU law in the interests at the same time of the Ukrainians and of the EU."

Five EU countries that neighbor Ukraine have asked the EU to treat the matter of Ukrainian food with urgency. Poland, Bulgaria, the Czech Republic, Hungary and Slovakia argue that they can’t allow their own farmers to bear the cost of disruption that Ukrainian grain and other agriculture products are causing to their markets.

"The Hungarian government will always stand by Hungarian farmers and will protect Hungarian agriculture," the agriculture minister, Istvan Nagy, said. He said the surge in Ukrainian products on European markets had made it "impossible" for Hungarian farmers to remain competitive.

Bulgaria is reportedly mulling a similar ban. Meanwhile, a delegation of Ukrainian officials visited Warsaw on Monday for government consultations on the issue.

Nagy also said that low production costs in Ukraine, owing to practices being used that are not permitted in EU countries, had allowed Ukraine to export large quantities of poultry, eggs and honey to the European market, driving costs down to unsustainable levels.

The Slovak Agriculture Ministry announced last week that tests of 1,500 tons of grain from Ukraine in one mill in Slovakia revealed it contained a pesticide banned in the EU. As a result, the Slovak authorities decided to test all Ukrainian grain in the country and temporarily banned its processing.

Ukraine and Russia are both major global suppliers of wheat, barley, sunflower oil and other affordable food products that developing nations depend on. The war upended those supplies to Africa, the Middle East and parts of Asia where people were already going hungry and helped push millions more people into poverty or food insecurity.

After Russia's full-scale invasion of Ukraine, it became too dangerous for ships to sail in the Black Sea, disrupting the flow of large ships carrying food to distant markets. Shipments resumed under a deal brokered by the United Nations and Turkey.

The EU reacted to the crisis by lifting tariffs and other trade duties on Ukraine to help keep its economy afloat. That helped to divert Ukraine’s grain flows destined for Africa and the Middle East through Europe — but much of this food has instead remained in the bordering countries, creating a glut that has caused high losses for local farmers.

The EU measures expire in June, but the EU is expected to renew them.

Ukraine's EU neighbors are, with the exception of Hungary, allies of Ukraine who favor their neighbor’s future membership in the EU.

Yet already the EU’s decision to banish tariffs for Ukrainian goods as a result of Russia’s invasion of its neighbor underlines the challenges that would come with integrating a huge food producer with the rest of the bloc.

Their bans come as Russia threatens to pull out of the Black Sea deal. Moscow is complaining that a separate agreement to facilitate exports of Russian food and fertilizers amid Western sanctions hasn’t worked.

Global food commodity prices surged to record levels after the invasion of Ukraine and have been falling steadily since, but food is still expensive for people in many places because of factors like droughts, trade restrictions and the high cost of buying imported food priced in dollars as some emerging economies’ currencies weaken.



China Passes Revised Foreign Trade Law to Bolster Trade War Capabilities

Containers are seen at the port in Shanghai, China, Oct. 13, 2025. (AFP)
Containers are seen at the port in Shanghai, China, Oct. 13, 2025. (AFP)
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China Passes Revised Foreign Trade Law to Bolster Trade War Capabilities

Containers are seen at the port in Shanghai, China, Oct. 13, 2025. (AFP)
Containers are seen at the port in Shanghai, China, Oct. 13, 2025. (AFP)

China on Saturday passed revisions to a key piece of legislation aimed at strengthening Beijing's ability to wage trade war, curb outbound shipments from strategic minerals, and further open its $19 trillion economy.

The latest revision to the Foreign Trade Law, approved by China's top legislative body, will take effect on March 1, 2026, state news agency Xinhua reported on Saturday.

The world's second-largest economy is overhauling its trade-related legal frameworks partly to convince members of a major trans-Pacific trade bloc created to counter China's growing influence that the manufacturing powerhouse ‌deserves a seat at ‌the table, as Beijing seeks to reduce ‌its ⁠reliance on the US.

Adopted ‌in 1994 and revised three times since China joined the World Trade Organization in 2001, most recently in 2022, the Foreign Trade Law empowers policymakers to hit back against trading partners that seek to curb its exports and to adopt mechanisms such as "negative lists" to open restricted sectors to foreign firms.

The revision also adds a provision that foreign trade should "serve national economic and social development" and help build China ⁠into a "strong trading nation", Xinhua said.

It further "expands and improves" the legal toolkit for countering external challenges, according ‌to the report.

The revision focuses on areas such ‍as digital and green trade, along ‍with intellectual property provisions, key improvements China needs to make to meet the ‍standards of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, rather than the trade defense tools the 2020 revamp honed in on following four years of tariff war with the first Trump administration.

Beijing is also sharpening the wording of its powers in anticipation of potential lawsuits from private firms, which are becoming increasingly prominent in China, according to trade diplomats.

"Ministries have become more concerned about private sector criticism," ⁠said one Western trade diplomat with decades' of experience working with China. "China is a rule-of-law country, so the government can stop a company's shipment, but it needs a reason."

"It's not totally lawless here. Better to have everything written out in black and white," they added, requesting anonymity, as they were not authorized to speak with media.

China's private exporting firms attracted global attention in November after the French government moved to suspend the Chinese e-commerce platform Shein.

The Chinese government increasingly could also find itself at odds with private enterprise when seeking to carry out sweeping bans, ‌such as Beijing's prohibition of all Japanese seafood imports, as Asia's top two economies continue to feud over Taiwan, trade diplomats say.


Lebanese Cabinet Approves Draft Law on Financial Crisis Losses

A photograph released by the Lebanese Government Press Office on December 26, 2025, show Prime Minister Nawaf Salam speaking during a press conference after a cabinet session in Beirut on December 26, 2025. (Photo by Handout / Lebanese Government Press Office / AFP)
A photograph released by the Lebanese Government Press Office on December 26, 2025, show Prime Minister Nawaf Salam speaking during a press conference after a cabinet session in Beirut on December 26, 2025. (Photo by Handout / Lebanese Government Press Office / AFP)
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Lebanese Cabinet Approves Draft Law on Financial Crisis Losses

A photograph released by the Lebanese Government Press Office on December 26, 2025, show Prime Minister Nawaf Salam speaking during a press conference after a cabinet session in Beirut on December 26, 2025. (Photo by Handout / Lebanese Government Press Office / AFP)
A photograph released by the Lebanese Government Press Office on December 26, 2025, show Prime Minister Nawaf Salam speaking during a press conference after a cabinet session in Beirut on December 26, 2025. (Photo by Handout / Lebanese Government Press Office / AFP)

Lebanon's government on Friday approved a draft law to distribute financial losses from the 2019 economic crisis that deprived many Lebanese of their deposits despite strong opposition to the legislation from political parties, depositors and banking officials.

The draft law will be submitted to the country's divided parliament for approval before it can become effective.

The legislation, known as the "financial gap" law, is part of a series of reform measures required by the International Monetary Fund (IMF) in order to access funding from the lender.

The cabinet passed the draft bill with 13 ministers in favor and nine against. It stipulates that each of the state, the central bank, commercial banks and depositors will share the losses accrued as a result of the financial crisis.

Prime Minister Nawaf Salam defended the bill, saying it "is not ideal... and may not meet everyone's aspirations" but is "a realistic and fair step on the path to restoring rights, stopping the collapse... and healing the banking sector.”

According to government estimates, the losses resulting from the financial crisis amounted to about $70 billion, a figure that is expected to have increased over the six years that the crisis was left unaddressed.

Depositors who have less than $100,000 in the banks, and who constitute 85 percent of total accounts, will be able to recover them in full over a period of four years, Salam said.

Larger depositors will be able to obtain $100,000 while the remaining part of their funds will be compensated through tradable bonds, which will be backed by the assets of the central bank.

The central bank's portfolio includes approximately $50 billion, according to Salam.

The premier told journalists that the bill includes "accountability and oversight for the first time.”

"Everyone who transferred their money before the financial collapse in 2019 by exploiting their position or influence... and everyone who benefited from excessive profits or bonuses will be held accountable and required to pay compensation of up to 30 percent of these amounts," he said.

Responding to objections from banking officials, who claim components of the bill place a major burden on the banks, Salam said the law "also aims to revive the banking sector by assessing bank assets and recapitalizing them.”

The IMF, which closely monitored the drafting of the bill, previously insisted on the need to "restore the viability of the banking sector consistent with international standards" and protect small depositors.

Parliament passed a banking secrecy reform law in April, followed by a banking sector restructuring law in June, one of several key pieces of legislation aimed at reforming the financial system.

However, observers believe it is unlikely that parliament will pass the current bill before the next legislative elections in May.

Financial reforms in Lebanon have been repeatedly derailed by political and private interests over the last six years, but Salam and Lebanese President Joseph Aoun have pledged to prioritize them.


Türkiye Says Russia Gave It $9 Billion in New Financing for Akkuyu Nuclear Plant

Türkiye’s Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Reuters)
Türkiye’s Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Reuters)
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Türkiye Says Russia Gave It $9 Billion in New Financing for Akkuyu Nuclear Plant

Türkiye’s Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Reuters)
Türkiye’s Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Reuters)

Türkiye's energy minister said Russia had provided new financing worth $9 billion for the Akkuyu nuclear power plant being built by ​Moscow's state nuclear energy company Rosatom, adding Ankara expected the power plant to be operational in 2026.

Rosatom is building Türkiye's first nuclear power station at Akkuyu in the Mediterranean province of Mersin per a 2010 accord worth $20 billion. The plant was expected ‌to be operational ‌this year, but has been ‌delayed.

"This (financing) ⁠will ​most ‌likely be used in 2026-2027. There will be at least $4-5 billion from there for 2026 in terms of foreign financing," Alparslan Bayraktar told some local reporters at a briefing in Istanbul, according to a readout from his ministry.

He said ⁠Türkiye was in talks with South Korea, China, Russia, and ‌the United States on ‍nuclear projects in ‍the Sinop province and Thrace region, and added ‍Ankara wanted to receive "the most competitive offer".

Bayraktar said Türkiye wanted to generate nuclear power at home and aimed to provide clear figures on targets.