GERMANY AND AUSTRIA TO TAP OIL RESERVES AFTER 400 MILLION BARRELS REQUESTED. (PHOTO).

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 Germany and Austria to tap oil reserves after 400 million barrels requested  Germany and Austria announced they are releasing portions of their oil reserves in response to an International Energy Agency request for member nations to collectively release 400 million barrels to help ease rising energy prices linked to the Iran conflict. Japan also said it will begin releasing part of its reserves starting Monday. The move marks one of the largest coordinated releases of emergency oil stocks in history. The previous record came in 2022, when IEA members released 182.7 million barrels following the energy disruptions caused by Russia’s invasion of Ukraine. Member countries currently hold over 1.2 billion barrels of public emergency oil stocks, along with an additional 600 million barrels of industry stocks maintained under government requirements. The release comes amid heightened tensions in the Persian Gulf, where Iran has targeted commercial ships and disrupted shipping throug...
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GUINEA-BISSAU DISSOLVES PARLIAMENT AFTER COUP ATTEMPT.(PHOTO).

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Guinea-Bissau dissolves parliament after coup attempt

The President of Guinea-Bissau, Umaro Embalo, issued a decree on Monday dissolving the parliament after an attempted coup in the West African nation.

Violence had erupted between members of the national guard and special forces of the presidential guard on Thursday night in the capital, Bissau, leaving two people dead before the army ordered its forces back to barracks.

Embalo, who was in Dubai attending the COP28 climate conference, arrived back in Bissau on Saturday and announced that an “attempted coup d’etat” had prevented him from returning earlier.

On Monday, he said there had been “complicity” between the national guard and “certain political interests within the state apparatus.”

That meant “the normal functioning of the institutions of the Republic has become impossible,” he added.

“The date of forthcoming legislative elections will be set at the opportune moment, in line with the constitution,” Embalo said in a communique.

Since gaining independence from Portugal in 1974, the country has seen a series of coups and coup attempts.
Elected to a five-year term in December 2019, Embalo survived a bid to overthrow him in February 2022.


 

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