MUSK'S WAR ON ESG

Elon Musk Accuses Two Influential Firms 

of Controlling the Stock Market

Tesla CEO says investor-advisory firms ISS 

and Glass Lewis have enormous power.

• LUC OLING STREETWATCH JAN 24, 2023

Elon Musk likes to attack circles of power. It's as if he's on a mission.

Nothing seems to motivate him more than slapping a revered institution or icon. He seems to be committed to challenging all forms of representations of power.

During the past few weeks, the Techno King, as he's known at Tesla  (TSLA) - Get Free Report, has lashed out at Anthony Fauci, the immunologist who was the face of America's response to the Covid-19 pandemic. 

This despite the risks that such an attack could backfire on Musk, and more specifically on some of his companies, like Tesla. The electric-vehicle leader's customer base is made up largely of progressives, who in turn are often ardent defenders of Fauci.

But none of that has stopped Musk, who has said he wants Dr. Fauci prosecuted.

Via his Twitter microblogging platform, he even promised covid files that would denounce what he considers the totalitarianism of the health authorities as they responded to the pandemic. These covid files were also supposed to expose Dr. Fauci.

Musk then attacked the World Economic Forum, the last convention of which has just concluded in Davos, Switzerland. The billionaire accused the forum of acting like an unpopular world government. He has thus taken up the discourse of the anti-elite and anti-globalists of all political stripes. 

"WEF is increasingly becoming an unelected world government that the people never asked for and don’t want," the tech tycoon blasted out on Jan. 18.

ISS, Glass Lewis Have 'Far Too Much Power': Musk

His charge against Davos has amped up criticism of the gathering of global economic and political elites and civil-society figures. 

If Musk, the second richest man in the world, strongly criticizes a circle made up of people just as rich as he is, forum critics say, his remarks serve to prove that Davos is not fulfilling the mission it set for itself.

"The World Economic Forum meeting in Davos has become largely irrelevant, little more than an exercise in self-congratulation for the world’s elites to convince themselves that they’re making a difference," blasted Patriotic Millionaires, an association of rich individuals fighting for "equal political representation, a livable minimum wage and a fair tax system."

If the billionaire does not expect his targets to immediately fall from their pedestals under his blows, he hopes to have at least permanently weaken them.

But while his attacks on Davos are still hot, the global CEO is targeting two other entities that also symbolize power. 

These are the two largest proxy-advisory firms: Institutional Shareholder Services and Glass-Lewis. For Musk, ISS and Glass Lewis are the real masters of the stock market. In his eyes, their power is disproportionate. 

The two firms provide advice to shareholders on executive compensation and the voting for board members. Their advice is both considered and ignored.

"Far too much power is concentrated in the hands of 'shareholder services' companies like ISS and Glass Lewis, because so much of the market is passive/index funds, which outsource shareholder voting decisions to them," Musk criticized on Jan. 24. 

As a result, "ISS and Glass Lewis effectively control the stock market."

As often with Musk, the first attack aims to set the stage and take the ambient temperature. In coming days or weeks he can be expected to multiply his attacks against the two firms, which encourage the implementation of ESG (environmental, social and corporate governance) norms. Musk has made ESG his No. 1 enemy.

ISS and Glass and Lewis did not respond to separate requests for comment.

'What Does ISS Think About That?'

Musk's charge against them, on the other hand, was welcomed by Twitter users.

"These 'governance solution' companies are very disconcerting," commented a Twitter user. "The words 'recommends vote against/for' is a thinly disguised threat that they are in control and you better go along with them. I would never delegate my vote to them. 97% market share voting advice = complete control."

"Ouch!" quipped another user.

"It is so important to vote as an individual investor rather than leave it up to these 'shareholder services' companies that manipulate the stock market," said one Twitter user.

There is bad blood between Musk and the two firms. ISS and Glass Lewis had, for example, recommended that shareholders vote against the generous compensation package Tesla granted to its charismatic CEO in 2018. 

A trial on Musk's pay was held last November. A Tesla holder had filed a complaint to protest his compensation, estimated at more than $50 billion but conditioned on the company’s financial and stock-market performance. The trial ended in mid-November. Chancellor Kathaleen McCormick of the Delaware Court of Chancery has not yet issued a ruling from the bench.

According to Jim Woodrum, clinical professor of executive education at the Kellogg School of Management at Northwestern University, muted criticism of ISS and Glass Lewis can be heard in the boardrooms.

"If you ask experienced directors about their biggest complaint about the changes in the boardroom over the last 20 years, I think many would grumble and then say something about Institutional Shareholder Services and Glass Lewis," Woodrum said. 

"To some, these entities have taken the fun out of being a director, as creativity has been replaced by an increased focus on compliance."

Woodrum then explained how the two consulting firms operate and how they gain power.

"Both firms have created models of what they think good governance looks like. And both use various algorithms to determine whether a given company is deserving of a 'yes' vote on Say on Pay, and whether individual board members should be supported," he continued.

"Many institutions follow their recommendations, while others subscribe to the services yet also employ their own staff to determine how they should vote their shares. 

"The most interesting thing about these firms is that their business model requires them to change their guidelines on a regular basis. After all, if they had a straightforward set of rules and all companies adopted them, there would then be no need for ISS or Glass Lewis to exist."

But boardrooms have become dependent on ISS and Glass Lewis, Woodrum warned.

The most popular boardroom conversation is, he says, "'What does ISS think about that?'

"This has also led to a homogenization of boardroom practices, as more and more companies come into compliance with the latest edict from ISS and/or Glass Lewis," the professor said.

The professor believes that there is a way for the boards of directors and the two consulting firms to coexist.

Answer Man: As Duke builds renewable energy, how long do solar panels, wind turbines last?

Andrew Jones, Asheville Citizen Times
Tue, January 24, 2023 

ASHEVILLE - Power is infinite, right? Electricity doesn’t run out unless you stop paying the bill, right?

Not right. Today’s question probes something we often forget about: How long does power-providing equipment last? Moreover, with state and nationwide moves toward renewable energy, how long do emerging energy tools last?

Got a question for Answer Man or Answer Woman? Email Interim Executive Editor Karen Chávez at KChavez@citizentimes.com and your question could appear in an upcoming column.

Question: Duke Energy in our area is increasing the amount of solar energy that they are producing. Duke also has indicated that it plans to produce wind turbine energy offshore on the North Carolina coastline. What is the life expectancy of solar panels and wind generators before they need to be replaced? What types of routine maintenance is required to maximize the amount of energy generated?

Let’s hone in specifically on Duke Energy’s answers to these questions, starting with solar power.

The company has a helpful crash course on renewable energy maintenance titled, fittingly, “Sustainable Life-Cycle Management for Renewables.”

DESS eBook Sustainable Life... by Andrew Jones

“The typical lifespan of solar PV panels is approximately 20-30 years,” Duke’s e-book explains. “The life span for solar power inverters is upwards of 10 years.”

To be clear, “PV” stands for photovoltaic and a panel is what you picture in your head when you think of solar power.

You may not be familiar with “power inverters,” so allow the U.S. Office of Energy Efficiency & Renewable Energy to explain:

“An inverter is one of the most important pieces of equipment in a solar energy system. It’s a device that converts direct current (DC) electricity, which is what a solar panel generates, to alternating current (AC) electricity, which the electrical grid uses.”

Related:Buncombe votes for expansion of NC's largest public solar cluster, zero-emission vehicles

So, inverters need to be replaced more often than panels and solar power owners are looking at a few decades before the equipment may need complete replacement.

However, that’s not the only option.

According to Duke’s e-book, there is “decommissioning,” which means removing and entirely replacing a system in some cases and there is “recommissioning” or “repowering” which is essentially maintenance.

“Recommissioning or repowering is the process of finding and replacing underperforming – and potentially non-working – components of existing solar PV and/or battery energy storage systems,” the e-book explains. “If the system is failing systemically, a full system replacement is probably the right way to go. However, most systems are in better condition than their performance might suggest.”

Duke extols the “value” of “great maintenance schedules” that include cleaning solar panels and taking advantage of equipment warranties.

Then there’s the wind turbine, a monster of a tool for generating clean energy and the star of some of Duke’s sustainability marketing.

Again, to narrow the scope here, let’s focus on Duke and one of its latest endeavors, an offshore wind energy lease in the Carolina Long Bay, just southeast of Wilmington. A Duke subsidiary in May 2022 was named a provisional winner of a $155 bid to lease turbines there.

According to a news release, the company could begin “site assessment” there in 2023 and “could support up to 1.6 gigawatts of potential offshore wind energy, enough to power nearly 375,000 homes.”

Fully assembled wind turbines undergoing tests and adjustments before being towed out to the site of the Hywind Tampen wind farm, about 85 miles off the Norwegian coast.

Construction will take at least 10 years, Duke estimates.

The turbines at this site could have roughly 15-megawatt output. It’s not immediately clear what brand of turbine this project will use, but turbines have a roughly 20-30-year lifecycle.

Page 19 of a report titled “Building North Carolina's Offshore Wind Supply Chain” references a 30-year lifespan.

The U.S. Bureau of Ocean Energy Management concurs.

In a helpful overview of offshore wind farms titled “Navigational, design, and decommissioning concerns for offshore wind facilities: Fact Sheet,” the BOEM addresses the lifespan question.

“A typical offshore wind lease is valid for approximately 30 years,” the fact sheet states. “Before facilities may be installed under an approved Construction and Operations Plan, a lessee must provide financial assurance that covers the decommissioning of all structures, cables, and obstructions.”

Andrew Jones is an investigative reporter for the Asheville Citizen Times, part of the USA TODAY Network. Reach him at @arjonesreports on Facebook and Twitter, 828-226-6203 or arjones@citizentimes.com. Please help support this type of journalism with a subscription to the Citizen Times.

This article originally appeared on Asheville Citizen Times: As Duke Energy grows, how long do solar systems, wind farms last?

Los Angeles Times Letters to the Editor: 

When will Americans admit, 'It's the guns, stupid'?

Wed, January 25, 2023 

A police officer stands in the street at the scene of a mass shooting in Monterey Park on Jan. 22. (Jason Armond / Los Angeles Times)

To the editor: Thank you for one of the best editorials I've read concerning gun violence. Your point about killers having one thing in common — they have guns — reminds me of an exchange I heard years ago: In reply to "Guns don't kill people, people kill people," someone said, "People with guns kill people."

I read some initial reporting about the Monterey Park suspect having some anger issues. Whether or not that turns out to be true, it reminds me of Homer Simpson being told he had to wait for a background check before purchasing a gun. Frustrated, he replied, "But I'm mad now!"

Reducing gun violence requires we continue to consider many issues. In the meantime, how many deaths will it take, how many years will it take, until we and the people we elect admit, "It’s the guns, stupid"?

John Saville, Corona

.
To the editor: In addition to guns, mass killers have more important things in common — desires for notoriety, and to inflict as much misery on society as they have suffered in their lives.

The Times' front-page stories on the Monterey Park shooting and your coverage of the suspect and the terror he allegedly inflicted surely fulfill these desires. Furthermore, The Times' coverage (and that of countless other newspapers and broadcasters) will assure other monsters that their future acts of horror will achieve similar outcomes.

More than 70 million Americans are gun owners, and 99.9% of them never use a firearm to take a life. Yes, America needs to stop the carnage of the 0.01% of gun owners who commit these atrocities.

Editorials would be more useful if they focused on outlawing removable magazines holding more than six shots, red-flag laws that operate quickly and cheaply, and laws creating consequences for people failing to report an atrocity they know is being planned.

David A. Walsh, Manhattan Beach

..
To the editor: This is sick. We are sick as a society to tolerate this all so folks can have their guns. Guns have become the golden calves that are worshiped and defended against any sensible laws.

Oh, we have to obey the 2nd Amendment and make sure we have guns for "2nd Amendment remedies." That part of the Constitution was written when we had muskets that had one shot and took a few moments to reload.

Our forefathers could not have imagined today's assault weapons, and the purpose of the 2nd Amendment certainly wasn't to give citizens the means to overthrow the government if they thought it was out of control.

When will this insanity stop and we say enough is enough? I would give up my right to own a gun because the safety of our communities is more important.

Anne Earhart, Corona del Mar

Newsom renews call for federal action on gun safety after 2 mass shootings in California


Lara Korte
Tue, January 24, 2023

SACRAMENTO, Calif. — Gov. Gavin Newsom angrily denounced Republicans for refusing to adopt gun safety measures as he renewed calls for federal action after two mass shootings in California left 19 people dead.

Newsom also called out fellow Californian, House Speaker Kevin McCarthy, for not making a public statement after the shootings in Monterey Park and in Half Moon Bay.

“Where’s he been on gun safety reform? Where’s the Republican Party been on gun safety reform?” the governor said, appearing visibly shaken after meeting with families of victims of the second shooting. “Shame on them. Shame on those that allow and perpetuate that to be rewarded politically.”

California has some of the most stringent gun policies in the nation, which the governor says helps explain why the state has a gun death rate 37 percent below the national average. Some of those restrictions, however, are in jeopardy following a Supreme Court decision in June on a concealed carry law in New York that invited challenges on a wide range of firearm laws.

Even with California's laws, people can just bring weapons into the state from elsewhere — which is why Congress should take actions such as restricting the size of magazines and banning assault weapons, Newsom said.

“We can’t do this alone,” Newsom said. “And with all due respect, we feel like we are.”

The governor made the trip to Half Moon Bay, south of San Francisco, after the killing of seven farmworkers Monday, apparently by another worker. It came less than 48 hours after the attack by a gunman at a dance hall during a Lunar New Year celebration in Monterey Park, a small city east of downtown Los Angeles.

Newsom had harsh words for McCarthy, who represents the Bakersfield area, for not making any public statements addressing either shooting.

“I’m still waiting for Kevin McCarthy, the leader of the House of Representatives, who purports to represent the people of the state of California,” he said. “We haven’t heard one damn word from him, not since Monterey Park, not what happened here, not one expression of prayers, condolences, nothing, and it should surprise nobody.”

The Speaker addressed the shootings at a press gaggle on Tuesday in the Capitol, around the same time Newsom was speaking in Half Moon Bay.

"Let me begin by expressing my condolences to the families in California with the recent violence over the last couple days," McCarthy told reporters.

Newsom said he was in the hospital in Southern California visiting victims and family members when he was pulled aside and informed of the second shooting in Half Moon Bay.

The governor, like others in his party, has doubled down on the need for gun restrictions in the wake of the Supreme Court’s decision. Last year the Democrat-dominated legislature passed a dozen more restrictions, and new bills are in the works for this year.

While the state does have a lower rate of gun death than the national average, it’s been impossible to insulate it from tragedies like the ones seen this week. Increasingly, California Democrats have been looking to Washington to place protections in areas that state policies simply can’t cover.

“We can figure this out — we can,” Newsom said. “We know what to do. It’s not complicated. We do. And we don’t have to do this again and again and again.”

China Formally Arrests Nine Over Covid Protests, Group Says


Bloomberg News
Tue, January 24, 2023 

(Bloomberg) -- China formally arrested nine people in connection with a wave of Covid protests that swept the country in November, a human rights group said, even as Beijing unwinds the virus curbs that prompted the demonstrations.

Municipal prosecutors in Beijing have approved the arrests of nine people suspected of participating in demonstrations in the capital, according to Weiquanwang, a website that tracks human rights cases in China. They’re accused of “picking quarrels and provoking trouble,” the site said Friday, without disclosing where it got the information.

The catch-all charge, often used against dissidents in China, carries a possible sentence of as long as five years in prison. The arrested people named by Weiquanwang include Cao Zhixin, a book editor in her mid-20s, who questioned the detentions of her friends in a video widely circulated on the internet earlier this month.

Neither the Ministry of Public Security nor the Beijing Municipal Public Security Bureau immediately responded to requests for comment Wednesday, a public holiday in China. Weiquanwang also didn’t respond to a request for comment.

The arrests are the latest sign that China is quietly pursuing people associated with the demonstrations now that international attention has faded. The historic street gatherings and vigils began at the end of November, with some participants calling for freedom of speech or even for Chinese President Xi Jinping to step down.

The government took steps in the immediate aftermath of the demonstrations to roll back most of the measures to enforce Xi’s signature policy of isolating and quashing Covid outbreaks. Still, Chinese authorities have said little about the protests, although Xi made a rare acknowledgment of divergent views in his New Year’s address to the nation.

More than 100 demonstrators may have been detained, Weiquanwang said earlier, citing “various avenues” and other civil-society groups. At least 12 people were in custody, Bloomberg News reported Jan. 15, citing people with knowledge of the matter.

Read more: Xi Faces Dilemma as China Quietly Detains Young Covid Protesters

Despite the tight censorship, news about the detentions still seep through the cracks. One internet user said on the Twitter-like Weibo that he was glad about the arrests, which received 27,000 likes, while another post said her wish for the Lunar New Year holiday was for the detainees to be released and reunited with their families.

Chinese police normally have two months after they make an arrest to investigate and refer a case back to prosecutors, who must then decide whether to pursue trial.

CRIMINAL CRYPTO CAPITALI$M 

Bankrupt crypto lender BlockFi accidentally reveals it had over $1.2 billion in assets tied up with FTX

Zahra Tayeb
Wed, January 25, 2023 

BlockFi filed for bankruptcy last November, citing heavy exposure to FTX.

Chukrut Budrul/ SOPA Images/ LightRocket/ Getty Images

Bankrupt crypto lender BlockFi's secret financials revealed linkages of over $1.2 billion to FTX.


The disclosure was accidentally revealed in unredacted financial documents, per CNBC.

BlockFi filed for bankruptcy last November, citing heavy exposure to Sam Bankman-Fried's collapsed exchange.

Bankrupt crypto lender BlockFi accidentally revealed it had over $1.2 billion in assets tied to FTX and its sister trading arm Alameda Research, according to CNBC.

The redacted sections include "trade secret[s] or confidential research, development, or commercial information," one of the filings show.

The findings show BlockFi's exposure to Sam Bankman-Fried's collapsed crypto empire was greater than previous disclosures had indicated.

As of January 14, unredacted filings show BlockFi had $415.9 million worth of assets linked to FTX and $831.3 million tied to Alameda. However, lawyers representing BlockFi previously said the firm had $355 million in digital assets stuck on FTX, and loaned $671 million to Alameda.

BlockFi did not immediately respond to Insider's request for comment.

The company has been on a rocky road in the past year. It filed for Chapter 11 bankruptcy protection last November, citing significant exposure to FTX and the now-defunct crypto hedge fund Three Arrows Capital. The crypto lender has over 100,000 creditors, with liabilities and assets ranging from $1 billion to $10 billion.

It's entanglement with FTX began last July, when the company inked a deal with Bankman-Fried's exchange to receive a $400 million revolving credit line as part of a rescue deal. But that deal crumbled after FTX suffered its own liquidity crisis and went bust.

As BlockFi undergoes bankruptcy proceedings, it has sought court approval to pay bonuses to employees. It told the court last November that holding onto key members of staff was critical to its efforts to reorganize the company.

Binance Mistakenly Mixed Crypto Exchange's Customer Funds With B-Token Collateral: Bloomberg



Lyllah Ledesma
Tue, January 24, 2023 at 5:58 AM MST·2 min read

Binance, the world’s largest crypto exchange by trading volume, mistakenly kept collateral for some of the crypto assets it issues in the same wallet as funds belonging to its customers, Bloomberg reported Tuesday, citing an unidentified Binance spokesperson.

The exchange issued 94 so-called Binance-peg tokens (B-Tokens), and reserves for almost half of those are stored in a cold wallet called Binance 8, Bloomberg said. The wallet contains more tokens than required for the number of B-Tokens issued. Since the tokens are supposed to be backed 1:1, the excess indicates the collateral is being mixed with customers’ tokens, according to Bloomberg.

“Collateral assets have previously been moved into this wallet in error and referenced accordingly on the B-Token Proof of Collateral page,” the spokesperson told Bloomberg. “Binance is aware of this mistake and is in the process of transferring these assets to dedicated collateral wallets.” Assets held with the exchange “have been and continue to be backed 1:1,” the spokesperson said.

When collateral is pooled together and used for trading, it’s locked up, and clients or holders of assets may not be able to withdraw if the pool is reduced, Laurent Kssis, a crypto trading adviser at CEC Capital, said in a note to CoinDesk.

“In essence this means that there is no segregation of assets between clients' funds and any collateral used,” Kssis said. “This could lead to the owner(s) not being able to withdraw due to lack of funds or liquidity by the exchange.

“This could resonate like what FTX and Alameda did on a daily basis. An audit would generally highlight such shortcomings and ask to remedy it immediately,” he said. “If Binance was regulated, this would be an essential part of their internal controls.”

Binance has faced scrutiny since the collapse of crypto exchange FTX and FTX's affiliated hedge fund Alameda Research. As a result, Binance sought to boost confidence in its platform by issuing a “proof-of-reserves” report from accounting firm Mazars in December. The report showed that Binance's customer bitcoin (BTC) reserves were overcollateralized.

"To be clear, Binance holds all of its clients’ assets in segregated accounts, which are identified separately from any accounts used to hold assets belonging to Binance," a Binance spokesperson said in an email. "Binance does not invest or otherwise deploy user assets without consent under the terms of specific products."

UPDATE (Jan. 24, 16:22 UTC): Adds Binance comment in last paragraph.

‘Cryptoqueen’ scammed $4 billion from investors by touting bogus Bitcoin rival—she’s still on the run from the FBI after five years


FBI Ruja Ignatova  Bulgarian fraudster

Eleanor Pringle
Mon, January 23, 2023 

In 2017 Ruja Ignatova - the self-proclaimed 'Cryptoqueen' - boarded a plane in Bulgaria bound for Athens. The fugitive, who is wanted by the FBI, hasn't been seen since.

Ignatova is on the bureau's 'Ten Most Wanted Fugitives' list for "alleged leadership of a massive fraud scheme that affected millions of investors worldwide". A co-founder of Bulgarian-based cryptocurrency company OneCoin Ltd, she is said to have defrauded investors out of more than $4 billion.

It comes after her co-founder, Karl Sebastian Greenwood, plead guilty to wire fraud and money laundering charges in Manhattan federal court last month.

As well as Greenwood, Ignatova brought in her younger brother Konstantin Ignatov to help lead the "international pyramid scheme that involved the marketing of a fraudulent cryptocurrency".

The net began closing in when Konstantin was arrested at Los Angeles International Airport following an investigation by the Manhattan U.S. Attorney in 2019.

Konstantin plead guilty to a range of charges including money laundering and fraud in 2019, according to the BBC.

'Cryptoqueen' still on the run

However, his older sister is still at large, with a federal warrant for Ignatova's arrest issued on October 12, 2017. It was later superseded by a charge in February of 2018 with counts of conspiracy to commit wire fraud, wire fraud, conspiracy to commit money laundering, conspiracy to commit securities fraud and securities fraud.

Court and public documents allege that Ignatova and her sibling held various positions at the top of the company which was founded in 2014.

As of his arrest, Konstantin Ignatov was described as the "top leader" of the company, having taken over from his sister who had occupied the position until she disappeared in October 2017.

In the course of authorities' investigations into OneCoin, records showed that between the fourth quarter of 2014 and the third quarter of 2016, OneCoin generated €3.353 billion in sales revenue and earned “profits” of €2.232 billion.
How did she do it?

A video shown on the FBI's website gives some insight into how Ignatova swindled investors into putting their hands in their pockets.

At a OneCoin event in London, speaking "one and a half years after launching [their] cryptocurrency" Ignatova said: "I strongly believe [OneCoin] will be the number one cryptocurrency worldwide."

Accepting applause from the crowd, she continues: "In the last two years I've been called a lot of things. The best thing the press called me was: 'OneCoin, who is supposed to be the BitCoin killer'. I must say I like it. You all know since we mined our first coin our growth exploded." She then claims her company had two million active users which "no other cryptocurrency has".

Speaking after Konstantin Ignatov's arrest, the FBI's assistant director-in-charge at the time, William Sweeney Jr., said: “As we allege, OneCoin was a cryptocurrency existing only in the minds of its creators and their co-conspirators. Unlike authentic cryptocurrencies, which maintain records of their investors’ transaction history, OneCoin had no real value.

"It offered investors no method of tracing their money, and it could not be used to purchase anything. In fact, the only ones who stood to benefit from its existence were its founders and co-conspirators. Whether you’re dealing with virtual currency or cold, hard cash, we urge the public to exercise due diligence with any investment.”

According to a release from the Office of the United States Attorneys, Ignatova had listed an exit strategy out of OneCoin as "take the money and run and blame someone else for this".

In emails also sent in 2014, Greenwood apparently refers to OneCoin investors as "idiots" with Ignatov replying: "As you told me, the network would not work with intelligent people."

Where is she now?

And so began an international game of cat and mouse with IRS special agent in charge, John R. Tafur, pledging to "bring cryptocurrency crooks to justice".

The FBI is offering $100,000 for information leading to the arrest of the fugitive.

Her profile on the FBI website adds that she is "believed to travel with armed guards and/or associates" and may have had plastic surgery to alter her appearance.

Able to speak German, English and Bulgarian, it is believed Ignatova may have used a German passport to fly to the United Arab Emirates, Bulgaria, Germany, Russia, Greece and/or Eastern Europe.

When approached by CNN, the bureau declined to provide additional details beyond court documents from the U.S. Department of Justice.

The FBI poster adds that Ignatova has various aliases, including Dr. Ruja Ignatova, Ruja Plamenova Ignatova, Ruja P. Ignatova and "CryptoQueen".

This story was originally featured on Fortune.com

Iranian women take center stage at Sundance film festival

Andrew MARSZAL
Sun, January 22, 2023 


Movies by and about Iranian women took center stage at the Sundance film festival this weekend, as diaspora filmmakers reflected on female-led protests and the deadly challenges of censorship and resistance in their ancestral home.

"Joonam," a documentary about a three-generation family of Iranian women now living in Vermont, and "The Persian Version," a colorful but candid dramedy which hops between Iran and New York over several decades, received world premieres on Saturday.

"Shayda," a drama directed by Noora Niasari about a Persian woman who flees her abusive husband in Australia, debuted earlier at the high-profile independent film festival in Utah.

Their inclusion in Sundance's line-up follows four months of mass demonstrations in Iran, triggered by anger over the death of 22-year-old Mahsa Amini after her arrest for violating the Islamic republic's strict dress rules.

At least 481 people have been killed in the crackdown and at least 109 others are facing execution in protest-related cases, in addition to the four already put to death, according to NGO Iran Human Rights.

The protesters "are literally putting themselves on the line... I stand in support with them 100 percent," said "Joonam" director Sierra Urich.

"You can't speak freely in Iran, they're imprisoning filmmakers and imprisoning artists," Urich told AFP.

"I can speak freely outside of Iran -- to an extent."

Iran has arrested a number of celebrities from the country's film industry in connection with the protest movement. Renowned director Jafar Panahi has been in prison six months following an earlier conviction for "propaganda against the system."

While US-born Urich cannot visit Iran for security reasons, her film chronicles her efforts to connect with and better understand the country by learning Farsi and interviewing her mother and grandmother.

She learns about the murder of an ancestor, and the story of how her grandmother was married at 14 to a man she met before reaching puberty.

While her grandmother is happy to reflect, her mother worries it is "very dangerous" to delve into the family's past on camera, at one point warning her daughter that in Iran, "the filmmaker will be the one hanged."

"Coming into Sundance, the film is on the world stage. I think Iranians are always weighing how truthful they will be, versus what they will say causing consequences for people that are back home," said Urich.

"It wasn't until my grandmother shared the story of her grandfather's martyrdom that I really understood this wall of fear that had been built by this authoritarian regime, to so many people in Iran, outside of Iran.

"My mom was trying to protect me from that reality."

- 'Resilience' -

In "The Persian Version," rebellious young Iranian-American Leila (played by Layla Mohammadi) has a fractured relationship with her immigrant mother, caused by Leila's sexuality and their seemingly different views on the role of women.

But as she uncovers the truth about her parents' experiences in Iran and their departure from the country, both generations of women gain perspective on their complicated heritage.

"I'm proud to have an Iranian film here at this moment about women," said director Maryam Keshavarz at the film's premiere, where cast members wore badges in Iranian flag colors with the protest movement's slogan "Woman Life Freedom."

"I think it speaks to the resilience through the decades, not just now. It's been forever in the making," she said.

"Even before this regime, women have always pushed against society for what they've wanted.

"They've upended the norms and they've learned to find their way of being free."

Keshavarz has not been able to return to Iran since the release of her debut film "Circumstance," about two teenage Persian girls who fall in love.

Urich still hopes to visit one day, but is watching the protests from afar, and for now hopes that her film can be "a small part of that struggle for freedom."

"I think part of why it's so moving to see what's happening in Iran right now, and to be here with these other filmmakers," she said, "is it's a real sense of community, and being able to tell our stories openly."

amz/bbk

The AP Interview: Pope Francis: Homosexuality not a crime

 

 

NICOLE WINFIELD
Wed, January 25, 2023 

VATICAN CITY (AP) — Pope Francis criticized laws that criminalize homosexuality as “unjust,” saying God loves all his children just as they are and called on Catholic bishops who support the laws to welcome LGBTQ people into the church.

“Being homosexual isn’t a crime,” Francis said during an interview Tuesday with The Associated Press.

Francis acknowledged that Catholic bishops in some parts of the world support laws that criminalize homosexuality or discriminate against the LGBTQ community, and he himself referred to the issue in terms of “sin.” But he attributed such attitudes to cultural backgrounds, and said bishops in particular need to undergo a process of change to recognize the dignity of everyone.

“These bishops have to have a process of conversion,” he said, adding that they should apply “tenderness, please, as God has for each one of us."

Some 67 countries or jurisdictions worldwide criminalize consensual same-sex sexual activity, 11 of which can or do impose the death penalty, according to The Human Dignity Trust, which works to end such laws. Experts say even where the laws are not enforced, they contribute to harassment, stigmatization and violence against LGBTQ people.

In the U.S., more than a dozen states still have anti-sodomy laws on the books, despite a 2003 Supreme Court ruling declaring them unconstitutional. Gay rights advocates say the antiquated laws are used to harass homosexuals, and point to new legislation, such as the “Don’t say gay” law in Florida, which forbids instruction on sexual orientation and gender identity in kindergarten through third grade, as evidence of continued efforts to marginalize LGBTQ people.

The United Nations has repeatedly called for an end to laws criminalizing homosexuality outright, saying they violate rights to privacy and freedom from discrimination and are a breach of countries’ obligations under international law to protect the human rights of all people, regardless of their sexual orientation or gender identity.

Declaring such laws “unjust,” Francis said the Catholic Church can and should work to put an end to them. “It must do this. It must do this,” he said.

Francis quoted the Catechism of the Catholic Church in saying gay people must be welcomed and respected, and should not be marginalized or discriminated against.

“We are all children of God, and God loves us as we are and for the strength that each of us fights for our dignity,” Francis said, speaking to the AP in the Vatican hotel where he lives.

Such laws are common in Africa and the Middle East and date from British colonial times or are inspired by Islamic law. Some Catholic bishops have strongly upheld them as consistent with Vatican teaching that considers homosexual activity “intrinsically disordered,” while others have called for them to be overturned as a violation of basic human dignity.

In 2019, Francis had been expected to issue a statement opposing criminalization of homosexuality during a meeting with human rights groups that conducted research into the effects of such laws and so-called “conversion therapies.”

In the end, the pope did not meet with the groups, which instead met with the Vatican No. 2, who reaffirmed “the dignity of every human person and against every form of violence.”

On Tuesday, Francis said there needed to be a distinction between a crime and a sin with regard to homosexuality.

“Being homosexual is not a crime," he said. "It's not a crime. Yes, but it's a sin. Fine, but first let's distinguish between a sin and a crime."

"It's also a sin to lack charity with one another," he added.

Catholic teaching holds that while gay people must be treated with respect, homosexual acts are “intrinsically disordered.” Francis has not changed that teaching, but he has made reaching out to the LGBTQ community a hallmark of his papacy.

Starting with his famous 2013 declaration, “Who am I to judge?” when he was asked about a purportedly gay priest, Francis has gone on to minister repeatedly and publicly to the gay and trans community. As archbishop of Buenos Aires, he favored granting legal protections to same-sex couples as an alternative to endorsing gay marriage, which Catholic doctrine forbids.

Despite such outreach, Francis was criticized by the Catholic LGBTQ community for a 2021 decree from the Vatican’s doctrine office that the church cannot bless same-sex unions “because God cannot bless sin.”

The Vatican in 2008 declined to sign onto a U.N. declaration that called for the decriminalization of homosexuality, complaining the text went beyond the original scope and also included language about “sexual orientation” and “gender identity” it found problematic. In a statement at the time, the Vatican urged countries to avoid “unjust discrimination” against gay people and end penalties against them.

Vatican The AP Interview Pope Francis LGBTQ

 - A rainbow shines over St.Peter's Square at the Vatican, on Jan. 31, 2021. In an interview with The Associated Press at The Vatican, Tuesday, Jan. 24, 2023, Pope Francis acknowledged that Catholic bishops in some parts of the world support laws that criminalize homosexuality or discriminate against the LGBTQ community, and he himself referred to homosexuality in terms of "sin." But he attributed attitudes to cultural backgrounds and said bishops in particular need to undergo a process of change to recognize the dignity of everyone. (AP Photo/Alessandra Tarantino, file)

Cuba begins London court battle over unpaid Castro-era debt



Mon, January 23, 2023 

By Marc Jones

LONDON (Reuters) - Cuba began a high-stakes legal battle in London's High Court on Monday over unpaid Fidel Castro-era government debt now held by one of the communist-run country's creditors.

The 8-day case will be closely watched by other creditors who between them have struggled to recoup an estimated $7 billion of defaulted loan from Havana.

CRF I Ltd, the investment firm that brought Monday's case, says it is owed 72 million euros ($78.18 million) on two loans that were originally granted to Cuba by European banks in the 1980s and denominated in German Deutschmarks.

Cuba's authorities have labelled CRF a "vulture fund" and said in their legal argument ahead of the case that the English Court had "no jurisdication" to try CRF's claims.

CRF originally launched the claim almost three years ago after Havana refused a debt relief offer made by CRF and some other bond holders back in 2018.

"We are still ready to talk to the other side - even at this late stage," CRF Chairman, David Charters, told Reuters.

The communist-run island has seen its finances deteriorate badly recent years, made worse by the coronavirus pandemic and restrictions put in place by former U.S. President Donald Trump.

In 2015, Havana reached a deal with members of the Paris Club of creditor nations that saw roughly three-quarters of that debt written off. But having not dealt with its commercial creditors in the so-called London Club the country remains shut out of international capital markets.

"The BNC and Cuba have never ignored their debts and have always maintained their interest in negotiating with their legitimate creditors," the Cuban central bank said in statement ahead of the case earlier this month.

Other Latin American nations, most notably Argentina, have also fought prolonged court and political battles for years to settle with international funds that bought up defaulted-debt cheaply and then pursued legal claims.

($1 = 0.9210 euros)

(Reporting by Marc Jones and Sam Tobin; Editing by Frank Jack Daniel)

Granholm ecstatic at red state surge in renewable energy: 'That is fantastic'

Green energy projects have spiked in Republican-led states like Texas since the passage of the Inflation Reduction Act.

David Knowles

·Senior Editor

Tue, January 24, 2023

At a White House press briefing on Monday, Energy Secretary Jennifer Granholm was asked by Yahoo News to weigh in on the sharp rise in renewable energy projects in Republican-led states like Texas since the passage of the Inflation Reduction Act.

According to data from the U.S. Energy Information Administration, Texas is poised to overtake California in terms of solar power capacity, and aggressively pursued the construction of new wind, solar and battery storage projects in the second half of 2022.

“With respect to Texas, what an opportunity for every state to be able to produce clean energy. And, in fact, a Politico story this morning suggested that there was an abundance of announcements coming out of red states. Great! That is fantastic,” Granholm said. “We want to be able to see energy, clean energy produced in every pocket of the country — blue states, red states — really, it helps to save people money, so it’s really all about green.”

In August, President Biden signed the Inflation Reduction Act into law. Since then, companies have announced tens of billions of dollars in renewable energy projects nationwide, Politico reported Monday, including a large percentage in Republican-led states where lawmakers voted against the legislation.

While many Republican lawmakers and governors have shied away from supporting laws that would start to address rising global temperatures caused by the burning of fossil fuels, they are less resistant to the boom in renewable energy jobs that has resulted from the Inflation Reduction Act.

“Just because you vote against a bill doesn’t mean the entire bill is a bad bill,” Rep. Garret Graves, R-La., told Politico. “I go out there and advocate for our district to try and get transportation funds, to try and get energy funds. That’s my job. I am not embarrassed about it. I don’t think it’s inconsistent with my vote.”

An oil derrick and wind turbines on the plains near Amarillo, Texas. (Lucas Jackson/Reuters)

The new law’s $369 billion in climate-related spending over 10 years targets five areas: consumer clean energy costs, decarbonizing various sectors of the economy, domestic clean energy manufacturing, environmental justice and land use. But it is the law’s robust tax credits that experts say have supercharged a manufacturing and jobs boom.

“I’m really excited to see, especially in the next year as companies really start to digest the IRA and determine what it means for their bottom line, to see all of the growth in the manufacturing facilities that might come as a result of the IRA,” Robbie Orvis, senior director of modeling and analysis at Energy Innovation Policy & Technology, told Morning Consult.

While the overriding goal of the new law is to spur a transition to renewable energy sources and cut greenhouse gas emissions by 40% by 2030, the creation of new green jobs has long been touted by Democrats in their proposals to address climate change.

In 2019, when Rep. Alexandria Ocasio-Cortez, D-N.Y., introduced her resolution for the Green New Deal in the House, Republicans responded by attacking it as a “jobs killer” that would result in dramatic tax increases.

But an October analysis by the BlueGreen Alliance and the Political Economy Research Institute at the University of Massachusetts Amherst found that the Inflation Reduction Act would create 9 million jobs by 2032.

On the growth of the renewable economy in the U.S., Granholm said Monday that “it’s helpful to the planet, but it’s also helpful for jobs and it’s also helpful for us to be energy-independent, which is exactly what the president would like to see — homegrown, clean energy, independent, so that we are strong and resilient.”

Big winners from Biden's climate law: Republicans who voted against it


Godofredo A. Vásquez/AP Photo

Kelsey Tamborrino and Josh Siegel

Mon, January 23, 2023

They didn't vote for it, they don't like it and they're working to undermine it — but Republicans are reaping the benefits of Democrats' climate law.

In the five months since the Inflation Reduction Act became law, companies have announced tens of billions of dollars in renewable energy, battery and electric vehicle projects that will benefit from incentives in President Joe Biden's signature law, aimed at expanding domestic manufacturing in clean energy and reducing dependence on Chinese imports.

In fact, roughly two-thirds of the major projects are in districts whose Republican lawmakers opposed the Inflation Reduction Act, according to a POLITICO analysis of major green energy manufacturing announcements made since the bill's enactment.

The dynamic has prompted a tricky balancing act for the GOP: Tout the jobs and economic benefits coming to their states and districts, but not the bill that helped create them. The results are also potentially awkward for Democrats who expended political capital and more than a year of wrangling to enact the bill, only to see Republican lawmakers and governors sharing in the jobs and positive headlines it's creating — although Democrats say they also see longer-term benefits for the nation in building GOP support for alternatives to fossil fuels.

Republicans insist their positions on the bill and the jobs are not in conflict.

"Just because you vote against a bill doesn't mean the entire bill is a bad bill," said Rep. Garret Graves (R-La.), who was the top GOP member of Democrats' Select Climate Crisis Committee in the last Congress. "I go out there and advocate for our district to try and get transportation funds, to try and get energy funds. That's my job. I am not embarrassed about it. I don't think it's inconsistent with my vote."

To Democrats, the slate of new investments stand as proof that they were correct that the Inflation Reduction Act, H.R. 5376 (117), would expand the reach of clean power to rural and conservative areas — a promise that failed to sway a single Republican vote to support the bill.

"It's hard not to point out the hypocrisy for people who fought tooth and nail against the bill, those very incentives that are now creating opportunities in their [Republican] districts they are now leading," said Sen. Tina Smith (D-Minn.). "We just have to point out, thanks for your kind words, but this didn't just happen. It happened despite your best efforts."

Smith attended an October ribbon-cutting in her state for Canadian solar panel maker Heliene's expansion of its manufacturing facility — an effort that was started prior to the Inflation Reduction Act's passage and that has drawn praise from Rep. Pete Stauber (R-Minn.), whose district is home to the plant that will be one of the largest panel makers in the country.

Energy Secretary Jennifer Granholm welcomed the news that Republican districts were drawing the investments.

"Great, that is fantastic," she told reporters at the Monday White House briefing. "We want to be able to see energy — clean energy — produced in every pocket of the country. Blue states, red states, really it helps to save people money, so it's all about green."

Democrats' climate law includes billions of dollars to spur green energy technologies and cut greenhouse gas emissions, including a new tax credit for manufacturing the components crucial for solar, wind and electric vehicles, as well as additional incentives for using domestic content in projects.

Republicans, though, have moved to slash funding of the Internal Revenue Service, the central agency charged with implementing the climate law's incentives, over concerns that Democrats have expanded its mandate. And Friday, former President Donald Trump urged GOP lawmakers to target "billions being spent on climate extremism" in their fight over the debt limit.

Supporters of the Inflation Reduction Act say its success is due in part to the way it provides long-term certainty for companies looking to place a footprint in the U.S.

The bill is a "fundamental element" of the recent spate of manufacturing announcements, said Abigail Ross Hopper, the president and CEO of the Solar Energy Industries Association. "There certainly were a number of plans being evaluated and discussed [prior to the bill]. But I think the vast majority were contingent upon the passage of the IRA."

In the three months after Biden signed the Inflation Reduction Act in August, companies announced more than $40 billion of new clean energy investments, according to a December report from the American Clean Power Association, an industry trade group. POLITICO's analysis of the law's early results includes those projects as well as separate news reports and company announcements of manufacturing expansions and plans, and additional announcements on electric vehicle plants.

Out of 33 projects examined, 21 are expected to be located in Republican-held congressional districts, compared with 12 in Democratic districts. POLITICO's analysis did not reflect every announcement made and does not include facilities where a specific congressional district could not be found.


Just this month, South Korean solar company Hanwha Q Cells announced it would invest $2.5 billion in Georgia to expand its solar panel manufacturing plant and construct another facility in the state.

That expansion is occurring partially in the district of conservative firebrand Rep. Marjorie Taylor Greene — who has described climate change as "actually healthy for us" and has blasted Democrats' bill. Greene, however, recently told POLITICO that she's "excited to have jobs" in her district that will come from the Q Cells announcement, though she gave credit to Georgia's GOP Gov. Brian Kemp, who has courted clean energy and electric vehicle manufacturing investments through state-level subsidies and tax incentives.

Federal and state incentives alike are playing a role in the companies' decisions, said J.C. Bradbury, an economics professor at Kennesaw State University in Georgia.

"They are coming to Georgia for one reason — we are paying them to come here with subsidies," Bradbury said in an interview, referring to the combination of federal and state tax credits. "These projects are being pitched as economic development projects 100 percent."

But while manufacturing proponents point to factors including geography, economic development plans and states' anti-union laws as factors drawing investment to deep-red districts, they also say the announcements are directly tied to the federal subsidies provided under Democrats' bill.

"It's not random," said Jason Walsh, executive director of the BlueGreen Alliance, which includes labor unions and environmental organizations. "It's because specific policies have been put in place and passed by the U.S. Congress to actually incentivize exactly the kind of activity that we're seeing."

And the investments are only expected to grow. Solar manufacturer and Bill Gates-backed CubicPV, for one, is planning a 10-gigawatt facility in the United States, but has not yet chosen a location, while Enel North America, a unit of an Italian energy company, is evaluating sites to build a new solar panel and cell manufacturing plant. Battery manufacturing facilities are also expected to come online in the years ahead across several states, including Michigan, Tennessee, Arizona and Georgia.

Companies aren't necessarily looking at which lawmaker represents the district when they invest, said Scott Paul, president of Alliance for American Manufacturing. They're looking instead at where the supply chains exist and where they can leverage the tax benefits and capital provided by lawmakers.

"Red state-blue state [is] not really a factor," Paul said, adding, "This isn't one of those things that looks like an electoral map at all."

Republicans express no regret about opposing the IRA despite previously supporting individual pieces of the bill, such as tax incentives for carbon capture, nuclear and hydrogen projects. GOP members argued that the bill would pump too much money into the economy and worsen inflation, and they've criticized Democrats for using the partisan reconciliation process that allowed them to pass it with a simple majority in the Senate.

"The overall process, the overall bill, particularly the spending, really frustrates Republicans — not necessarily every specific in the bill," said Rep. John Curtis (R-Utah).

But the GOP is likely to find itself in an uncomfortable position as funding from the Inflation Reduction Act plays a growing role in Republicans home states and districts.

Former Virginia Democratic Rep. Tom Perriello, who lost his reelection bid in 2010 after voting for the Affordable Care Act, said those dynamics put Republicans in a tricky spot once voters see the jobs stemming from Democrats' agenda.

"Biden has driven his agenda right down Main Street with a big 'Made in America' banner on the back of an electric truck, and people's only choices are to get on board with the parade or seem to be against making things in America again," he said. "I think of those two choices, Republican hypocrisy makes a lot more sense than standing in the way of jobs and American competitiveness."


He called it "squirrely" for lawmakers to argue to voters that they like certain parts of the bill, but not others.

"That's just not how legislating works. That's not how things pass," he said.

House Republicans have promised robust oversight of the climate law, pledging to seek out wasteful spending in search of would-be scandals such as the failed Solyndra loan guarantee of the Obama administration — even if the overall program is a success.

"I don't think it complicates the oversight," a House GOP leadership aide told POLITICO, who asked for anonymity to speak candidly. "Oversight is an important function. There could be 20 great projects [supported by IRA], but if one is bad, it's our job to understand why."

Republicans also criticized the Biden administration's rush to embrace greener energy while the country still relies on China for technology components, and they've been critical of government support that has helped companies with manufacturing in China.

Virginia Gov. Glenn Youngkin, a Republican, said he rejected Ford Motors' efforts to consider locating a battery plant in his state over concerns about China and national security.

Democrats, though, hope the trend of clean energy boosting the economic prospects of red states helps shift the rhetoric of Republicans and enables more bipartisan cooperation on narrow interests benefiting the climate.

"Over time, I anticipate their [Republican] talking points will change as their neighbors become a part of the clean energy economy," said former House climate committee Chair Kathy Castor (D-Fla.).

Humanitarian crises could worsen in Haiti, Venezuela, says aid group



Tue, January 24, 2023 
By Kylie Madry

MEXICO CITY (Reuters) - The humanitarian crises in Haiti and Venezuela that have subjected millions to hunger, violence and disease could worsen this year without more aid, the International Rescue Committee (IRC) said on Tuesday.

An estimated 4.7 million Haitians and 12.3 million Venezuelans face food insecurity.

"The crises in Haiti and Venezuela are protracted challenges that are shaking the whole region but, as conflict escalates around the world, competing priorities are draining the attention they get," the IRC's Regional Vice President Julio Rank Wright said.

Haiti ranked No. 9 on the IRC's 2023 emergency watchlist, below South Sudan and Burkina Faso and a notch above Ukraine.

The IRC estimated at least 5.2 million Haitians need humanitarian aid, with some 40% of the country having to skip meals.

Gangs have become de facto authorities in parts of Haiti's capital Port-au-Prince since the 2021 assassination of President Jovenel Moise.

The violence has displaced over 155,000 Haitians within the country alone, the IRC said.

Cholera, meanwhile, has made a resurgence, with more than 22,000 suspected cases registered in January.

The IRC said it is preparing a response with local partners to combat cholera, provide health services and support survivors of gender-based violence.

Meanwhile in Venezuela, the IRC said health services are strained and medicine inaccessible for some 9.3 million people after years of sky-high inflation and political crises.

An estimated 7 million Venezuelans have fled in recent years.

The IRC also said climate change had displaced nearly 1.3 million people across northern parts of Central America, fueling poverty and hunger.

The organization also expressed concern for Mexico, which received nearly 250,000 asylum requests over the last two years and continues to support migrants expelled from the United States.

Mexico is the only country in the region mentioned by the IRC Tuesday without a humanitarian response plan under U.N. guidelines, hampering humanitarian action and coordination.

(Reporting by Kylie Madry; Editing by Sarah Morland and Lisa Shumaker)

U.S. says it will propose new Haiti targets for U.N. sanctions

AND THAT HELPS THE PEOPLE HOW?!

US Ambassador Wood attends a session at the United Nations in Geneva

Tue, January 24, 2023 
By Michelle Nichols

UNITED NATIONS (Reuters) - The United States said on Tuesday it will propose further targets in Haiti for U.N. sanctions, a move broadly backed by China as the Caribbean country battles cholera and severe food shortages compounded by widespread violence from criminal gangs.

The 15-member U.N. Security Council agreed in October to impose an asset freeze, travel ban and arms embargo on anyone who threatens the peace or stability of Haiti, naming the country's most powerful gangster as its first target.

U.N. Secretary-General Antonio Guterres has also proposed that "a rapid action force" be sent to Haiti to help police combat gangs - a move also requested by Haiti's government.

"This has yet to materialize," the U.N. special envoy to Haiti, Helen La Lime, told the Security Council.

"Haitians overwhelmingly want this assistance so they can go about their daily lives in peace," she said. "Gang-related violence has reached levels not seen in decades. Murders and kidnappings increased for a fourth consecutive year."

The deputy U.S. ambassador to the United Nations, Robert Wood, said that Washington was encouraged that U.N. sanctions had "deterred those who would carry out and finance the violence causing Haiti's instability."

"The United States is identifying additional targets involved in the unrest in Haiti to nominate at the United Nations," he said. Such proposals are made to the council's Haiti sanctions committee, which makes decisions by consensus.

China's U.N. Ambassador Zhang Jun called for U.N. Haiti sanctions to be urgently reviewed and updated and for the full implementation of the measures "in order to create the necessary deterrent to gang violence."

Russia's Deputy U.N. Ambassador Dmitry Polyanskiy said the council's Haiti sanctions committee should intensify its work to find "the true sources of funding of the gangs in Haiti and the routes of illegal weapons supplies to the island."

(Reporting by Michelle Nichols)

IMF approves $105 million to fight food shortages in Haiti

Mon, January 23, 2023 

MEXICO CITY (Reuters) -The International Monetary Fund's (IMF) executive board approved $105 million to help Haiti address severe food insecurity, the institution said on Monday, as the Caribbean country faces widespread shortages amid a humanitarian crisis.

The payment, under the IMF's Food Shock Window program, is set to address "urgent balance of payment needs related to the global food crisis", the fund said in a statement.

"Record price inflation ... worsened Haiti's fragility and compounded the suffering of Haiti's population already affected by a severe malnutrition," said deputy managing director Antoinette Sayeh, pointing to "spillovers" from Russia's invasion of Ukraine early last year.

It said funds would be allocated to those most affected by food price increases through feeding programs, cash and in-kind transfers to vulnerable households and other measures.

Authorities should carefully control, track, record and publish all spending related to the emergency response, it added, to ensure it is used appropriately.

The $105 million - 0.5% of Haiti's gross domestic product - corresponds to an expected financing gap in 2023 as the country battles a cholera crisis and severe food shortages, compounded by widespread violence from criminal gangs in parts of the capital, Port-au-Prince.

(Reporting by Carolina Pulice; Editing by Sarah Morland)