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European Council President Costa: The US unilateral decision to lift sanctions on Russian oil exports is deeply worrying because it affects European security. Applying greater economic pressure on Russia is crucial to getting it to accept serious negotiations for a just and lasting peace. Easing sanctions would increase Russias resources for its aggressive war against Ukraine.On March 13, the Party Committee of the General Administration of Customs held an enlarged meeting to study and implement the spirit of General Secretary Xi Jinpings important speech and the spirit of the National Peoples Congress and the Chinese Peoples Political Consultative Conference. The meeting emphasized the need to earnestly implement the important deployments of the Government Work Report and the 15th Five-Year Plan, to formulate and implement the 15th Five-Year Plan for Customs Development and the Port Modernization Plan with high quality, and to promote the implementation of various tasks. It stressed the importance of promoting the development of new productive forces tailored to local conditions, improving the level of intelligent supervision, credit supervision, and trend-based supervision, enhancing the competitiveness of the industrial chain and supply chain, and contributing to the construction of a modern industrial system. The meeting also emphasized the need to vigorously promote the stabilization and optimization of foreign trade, to carry out a new round of special actions to facilitate cross-border trade, and to support the development of new business forms and models such as intermediate goods trade, cross-border e-commerce, and overseas warehouses. Finally, the meeting stressed the need to expand independent opening-up, to deeply align with high-standard international economic and trade rules, to solidly advance the construction of the Hainan Free Trade Port, to accelerate the transformation and upgrading of comprehensive bonded zones, and to create more high-level platforms for opening-up.A spokesperson for the European Commission stated that the Commission fully supports Polands plan and looks forward to its implementation.On March 13, the Environmental Resources and Food and Drug Crime Investigation Bureau of the Ministry of Public Security deployed a campaign to severely crack down on crimes involving the illegal manufacture, sale, and use of prohibited and restricted pesticides. The bureau required local public security organs environmental, food, and drug crime investigation departments to adhere to the people-centered development philosophy, strengthen their sense of responsibility, focus on key tasks, and severely crack down on all types of pesticide-related crimes during the spring plowing and planting season, given the concentrated agricultural input production and storage activities. This is to effectively safeguard agricultural safety and build a solid food safety defense line "from farm to table."European Commission spokesperson: European security cannot be achieved without Polands participation.

Oil Prices Continue to Decline As Large COVID Testing Has Commenced in China

Haiden Holmes

Apr 28, 2022 09:38

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Oil prices fell slightly in early Asian trade on Thursday, driven down by fears over growing coronavirus cases in China, the world's largest oil importer.


Beijing's capital recorded 48 new symptomatic and two new asymptomatic COVID-19 cases for April 27, according to state broadcaster CCTV.


The city had previously reported 31 symptomatic cases and three asymptomatic cases as part of a mass testing program aimed at controlling a new outbreak.


By 0006 GMT, Brent crude futures had fallen 37 cents, or 0.4 percent, to $104.95 a barrel. West Texas Intermediate crude futures in the United States lost 27 cents, or 0.3%, to $101.75 a barrel.


Beijing authorities are stepping up their efforts to contain COVID-19 infections and avert the city-wide shutdown that has engulfed Shanghai for a month.


Hangzhou, China's 12.2 million-person city and headquarters of e-commerce giant Alibaba (NYSE:BABA), will begin broad COVID testing on April 28, official media said Wednesday.


Concerns about a global energy supply shortage following Russia's invasion of Ukraine and subsequent sanctions imposed on Moscow by the US and its allies underpin the market.


Gazprom (MCX:GAZP), the Russian energy behemoth, announced on Wednesday that it has interrupted gas deliveries to Bulgaria and Poland.


According to trading records, Shell (LON:RDSa) announced that it would no longer take refined oil blended with Russian products, while Exxon Mobil (NYSE:XOM) declared force majeure on its Sakhalin-1 facilities in Russia's far east.