World News in Brief: May 16

Wednesday, 2018-05-16 07:04:07
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UN Special Coordinator for the Middle East Peace Process Nickolay Mladenov on May 15 condemned the latest round of violence in Gaza, referring to the bloody clashes near the border fence with Israel.

At least 60 Palestinians were reportedly killed and over 1,300 others were reportedly injured by live ammunition and rubber bullets, making Monday (May 15) the bloodiest day in Gaza since the conflict of 2014.

* The United States on May 15 imposed sanctions on Iran's central bank governor and an Iraq-based bank for "moving millions of dollars" for Iran's elite Revolutionary Guard, as Washington seeks to cut off funding it says Tehran is using to fund militant activities overseas.

* Mexico's economy minister said that he saw diminishing chances for a new North American Free Trade Agreement ahead of a Thursday (May 17) deadline to present a deal that could be signed by the current US Congress.

* Oil prices settled higher on May 15 as uncertainties remain due to US sanctions on Iran. The WTI for June delivery was up 35 US cents to settle at US$71.31 a barrel on the New York Mercantile Exchange, while Brent crude for July delivery rose 20 cents to close at US$78.43 a barrel on the London ICE Futures Exchange.

* Nigeria on May 15 signed an agreement of US$6.68 billion with China Civil Engineering Construction Corporation (CCECC) for a major segment of rail line linking the economic capital Lagos with Kano, northern Nigeria's commercial hub.

* European top diplomats on May 15 agreed to follow through the landmark Iran nuclear deal despite US President Donald Trump's decision to withdraw last week, EU foreign policy chief Federica Mogherini told reporters on May 14.

* As part of its effort to become the world's first fossil-free welfare nation, Sweden is investing 200 million SEK (US$23 million) in creating an innovation cluster for liquid biogas in order to speed up the transition to fossil-free heavy transports.