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On March 30, Atsushi Mimura, Japans top foreign exchange official, issued his strongest warning to speculators to date, stating that if current market conditions persist, authorities may need to take decisive intervention measures in the foreign exchange market. "We are increasingly aware that speculative activity is not only heating up in the crude oil futures market, but is also rapidly spreading in the foreign exchange market," Mimura said at a press conference on Monday. He emphasized, "If this trend continues, we believe that swift and decisive action may be imminent." Mimuras remarks came after the yen fell below the 160-dollar mark last week—the critical level at which the Japanese government plans to implement foreign exchange intervention in 2024. He added, "We are fully prepared to respond, with a broad and comprehensive monitoring scope," implying that the Japanese government is not only closely monitoring foreign exchange market movements but also simultaneously paying attention to related markets such as crude oil futures.A chart summarizing the overnight price movements of international spot platinum and palladium.US President Trump: (Regarding Russian oil tankers heading to Cuba) Theres no problem with that, whether theyre Russian or from another country.US President Trump: (Regarding the Russian oil tanker bound for Cuba) We dont mind if someone loads a cargo onto it.Bank of Japan Governor Kazuo Ueda: If short-term interest rates are not adjusted appropriately, leading to excessive inflation, there is also a risk of excessive adjustment in long-term interest rates.

Tunisia, Others Try to Reduce Damage After Fuel Ship Sinks

Haiden Holmes

Apr 18, 2022 09:49

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The ship was on its way from Equatorial Guinea to Malta when it sank on Friday seven miles off the coast of Gabes in southern Gabon. Following a distress call, the Tunisian navy rescued all seven crew members.


Officials stated it was carrying between 750 and 1,000 tonnes of gasoline.


The defense ministry did not specify which nations had offered assistance, but local media said that Italy was set to deploy a navy vessel specialized in dealing with maritime catastrophes.


A specialized marine diving crew has begun searching the area surrounding the ship for signs of oil leaking.


"The situation is comforting and under control, and no leaking of gas oil has been detected from the sinking ship's tank," transport minister Rabie Majidi said.


He described the next step as "delicate and sensitive," since the ship must be removed from the sea without leaking.


Tunisian officials launched an inquiry into the sinking on Saturday, which the environment ministry blamed on severe weather.


"Tunisia will calculate the damages later and will seek compensation," environment minister Laila Chikaoui said.


The government said that obstacles will be erected to prevent the fuel's spread.


For years, the Gabes shoreline has been severely polluted, with environmental organizations alleging that industrial companies in the vicinity have dumped garbage straight into the sea.