Apr 7, 2021, 11:10 AM
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“The second-year filling of the Grand Ethiopian Renaissance Dam will be carried out as scheduled,” Ethiopia’s foreign ministry said in a statement on Twitter. “The positions contesting the filling of the dam ahead of the conclusion of an agreement has no basis in law and contravenes Ethiopia’s inherent right to utilize its natural resource.”
Several days of talks hosted by the African Union ended on Tuesday with no progress on ending the impasse between Ethiopia and the downstream nations of Egypt and Sudan.
Ethiopia is developing a 6,000-megawatt power plant at the GERD and is expected to begin a second filling of the reservoir when the next rainy season begins in July. Egypt, which depends on the Nile for most of its fresh-water needs, is opposed to any development it says will impact the downstream flow of the river, a position that’s echoed by mutual neighbor Sudan.
The Giant Ship Blocking the Suez Canal Is Finally Freed
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Giant Vessel Is Now Afloat, Inchcape Says: Suez Update
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Bloomberg | Jan 12, 2021
By Megan Durisin, Yuliya Fedorinova and Abdel Latif Wahba
The threat of Russia tightening wheat-export restrictions to safeguard its food supplies is spooking traders, prompting Egypt to take the rare step of canceling a tender to buy the grain.
Russia said it will this week discuss whether to adjust an export tax planned for next month amid concerns the measure hasn’t done enough to keep high domestic prices in check. Egypt, its top customer, drew offers from the fewest companies since June at high prices. That prompted the tender to be scrapped.
The dearth of participants highlights how protectionist measures in grain markets are adding to concerns about tighter global supply. Benchmark wheat, corn and soy futures are near six-year highs as adverse weather threatens crops, and major grain suppliers including Russia and Argentina are seeking to curb shipments to quell local food-price inflation.