Monday, November 30, 2015

Erdogan says would resign if Putin IS oil trade claims proven

Erdogan says would resign if Putin IS oil trade claims proven

[ANKARA] Turkish President Recep Tayyip Erdogan on Monday said he would be ready to quit office if allegations by Russian counterpart Vladimir Putin that Turkey traded oil with Islamic State (IS) jihadists were proven.
"I will say something very strong here. If such a thing is proven, the nobility of our nation would require that I would not stay in office," Mr Erdogan was quoted by the state-run Anatolia news agency as saying on the sidelines of the UN climate talks near Paris, which Mr Putin is also attending.
Challenging Mr Putin, who has refused to meet the Turkish leader after the shooting down of a Russian military jet, Mr Erdogan added: "And I tell Mr Putin 'would you stay in that office?' I say this clearly."
Mr Putin earlier Monday accused Ankara of shooting down the Russian Su-24 warplane last week to protect supplies of oil from the Islamic State group to Turkey, charges Turkey vehemently denies.
"Let's remain patient and let's not act emotionally," said Mr Erdogan.
Mr Erdogan said that Turkey obtained all its oil and gas imports "though the legal path".
"We are not dishonest so as to do this kind of exchange with terrorist groups. Everyone needs to know this."
After the Su-24 bomber was downed on the Syrian border last week, Mr Putin accused the Turks of being "accomplices of terrorists" and said oil from IS territory was being exported through Turkey.
AFP

Putin's latest message to Turkey could 'spin any future incident beyond control'

Putin's latest message to Turkey could 'spin any future incident beyond control'

Russia has reportedly equipped its warplanes flying in Syria with air-to-air missiles for self-defense for the first time, Reuters reported on Monday citing Russian news agencies.
The move comes one week after aRussian Su-24 fighter bomber was shot down by Turkish F-16 jets in an incident that has heightened tensions between Russian President Vladimir Putin and Turkish President Tayyip Recep Erdogan.
The missiles, reportedly capable of hitting targets at a distance of up to 37 miles, will supplement the state-of-the-art S-400 missile systems Russia says it has deployed to the Russian Hemeimeem air base near Latakia, Syria — about 30 miles south of the Turkish border.
The air-to-air missiles and the S-400 surface-to-air missile systems, if deployed, are evidently meant as a message to deter Turkish jets from shooting down Russian planes in the future.
"They are following through on Putin's orders from last week that all sorties will be escorted with air-to-air capable jets," said Boris Zilberman, a Russia expert at the Foundation for Defense of Democracies, a Washington, DC-based think tank.
"The message remains as it was last week from Putin: We won't let it happen again," Zilberman told Business Insider.
A Russian Su-24 jetReuters/Shamil ZhumatovA Russian Su-24 jet
Turkey has defended its decision to down the plane, contending it was in Turkish airspace and had been warned repeatedly before it was shot down by Turkish F-16 jets. But Putin said the plane was destroyed by a Turkish missile while flying in Syrian airspace, roughly a mile from the Turkish border — and he has wasted no time in retaliating.
Russian Foreign Minister Sergei Lavrov announced on Friday that Russia would be suspending its visa-free-travel agreement with Turkey. On Saturday, Putin approved a decree that would place wide-ranging sanctions on Turkish imports and services in Russia, Reuters reported.
The sanctions — which also ban charter flights from Russia to Turkey and halt certain business activities of Turkish firms in Russia — could bite into more than $30 billion in trade ties between the two countries.

'High-risk players'

On Saturday, Erdogan said he was "saddened" over the incident, which some experts perceived as an olive branch. But the Turkish leader has maintained that his country was within its rights to shoot down a plane that had violated its airspace.
"I think if there is a party that needs to apologize, it is not us," he told CNN in an interview from Ankara on Friday.
Putin's aides say he is furious over the incident and Erdogan's unwillingness to apologize,Reuters reported. But as experts point out, Putin's options for retaliation are limited if he wishes to avoid a larger confrontation with NATO.
putin erdoganOsman Orsal/ReutersPutin and Erdogan with Foreign Ministers Sergei Lavrov of Russia and Ahmet Davutoglu of Turkey.
"Putin's options are limited ... [which is why he is] taking action on the margins/asymmetrically," Zilberman said in an email.
"That being said ... the Russian-Turkish relationship is a tinderbox. The deterioration in the relationship is a loss for both Moscow and Ankara," he added.
Indeed, the countries share important bilateral economic ties. Turkey is the second largest buyer of Russian gas, and Russians account for about 12% of Turkey's annual tourists.
"There's a very significant economic relationship between the two sides — tourism, trade, and most importantly energy — that neither Putin nor Erdogan want to interfere with," geopolitical expert Ian Bremmer, president of the Eurasia Group, told Business Insider last week.
Moreover, Putin has important geopolitical considerations to keep in mind.
"Putin doesn't want to create more antagonism with NATO just as he's making progress with the Europeans — France in particular — in turning back the US-led Western 'isolation' of the Russians," Bremmer added.
Obama and PutinREUTERS/Kevin LamarquePutin with British Prime Minister David Cameron and US President Barack Obama.
On Saturday, Putin said that Russia was "ready to cooperate" with the US-led anti-ISIS coalition. "But of course incidents like the destruction of our aircraft and the deaths of our servicemen," he added, "are absolutely unacceptable."
As experts have pointed out, Putin and Erdogan are strongmen leaders with big egos and a desire to please their nationalist supporters at home.
"The problem is that you have two presidents who are both highly status conscious and both high-risk players," political scientist Ivan Krastev, chairman of the Center for Liberal Strategies in Sofia, Bulgaria, told The New York Times on Monday.
He added: "Not looking weak is something very important for both Putin and Erdogan. Neither knows how to retreat, nor apologize. In that way they are like twins."
And with that in mind, Putin has made his latest move in retaliation. By adding surface-to-air and air-to-air missiles into the mix, he avoids looking weak — and appeases his supporters — but he also significantly increases the stakes of any future incident.
Zilberman added, "The egos of Putin and Erdogan may spin any future incident beyond control."
Russian Airstrikes 9 19 NOV fixed 01Institute for the Study of War

Putin didn't think Turkey would make good on its threats — and now it's having big consequences

Putin didn't think Turkey would make good on its threats — and now it's having big consequences

The anger was written on Vladimir Putin’s face as he confirmed the news Tuesday that a Russian Su-24 warplane had indeed been shot down by a Turkish F-16—and not, as Russia’s defense ministry initially indicated, by ground fire from Syrian fighters.
The Russian jet was inside Syria, one kilometer from the Turkish border, when it was hit, the Russian president said in televised remarks from Sochi.
“In any case, our pilots—our plane—in no way threatened the Turkish Republic,” Putin said.
The warplane was carrying out a mission to hunt down Russian volunteers fighting with ISIS, which was the primary goal of Russia’s nearly two-month air campaign in Syria, according to the Russian president. He warned of “serious consequences” for Turkey’s “stab in the back.”
If anything is clear, it’s that Putin was genuinely surprised by Turkish President Recep Tayyip Erdogan’s temerity to make good on threats made after Russian warplanes violated Turkey’s airspace twice in early October. Erdogan insists the Su-24 repeatedly flew over Turkish territory and ignored 10 warnings before it was shot down. Just on Friday, the Turkish government protested that Russian airstrikes in the area were killing ethnic Turkmens, not terrorists.
For Putin, the Russian jet is the third downed plane to warn of the unintended consequences of armed intervention in a little more than a year.
The first shock came in July 2014, when Malaysian Airlines Flight MH17 was shot down over Ukrainian territory held by Russian-backed rebels, killing all 298 people on board and turning Putin into an international pariah. The next disaster occurred earlier this month, when a Russian charter plane carrying 224 people broke up over Egypt. Putin didn’t admit that a bomb had caused the crash until after the Paris attacks, defusing any domestic unhappiness about his Syria campaign by turning it into a fight against international terrorism—from a transparent attempt to prop up Syrian President Bashar al-Assad.
Russian planeReuters
Grisly pictures allegedly showing the dead body of one of the Russian pilots are circulating on social media. If the images prove to be authentic, they could force the Kremlin into even deeper involvement in Syria. By evening, state media were reporting that Syrian fighters had shot down a helicopter, killing one Russian soldier involved in a search-and-rescue mission for the pilots.
The trauma of the Soviet Union’s fateful invasion of Afghanistan still haunts Russia. If Ukraine was supposed to be a “hybrid war” with no public acknowledgment of Russian victims, Syria was going to be Putin’s version of Desert Storm, fought with television footage of smart bombs and cruise missiles.
The reason for Putin’s surprise is that Russia has come to see Erdogan as a valued partner. Turkey is the second-largest market for Siberian natural gas after Germany and was slated to be rewarded with a new pipeline, Turkish Stream, after relations soured with the European Union over Ukraine. Russia has also supplied Turkey with more than 10 percent of its tourists.
Putin acknowledged Turkey’s “regional interests,” a nod to Erdogan’s underground war against ethnic Kurds and even some illegal oil purchases from ISIS on the side. In his rage, the Russian president estimated ISIS oil sales via Turkey in the tens and hundreds of millions of dollars, if not billions.
“We always considered Turkey not just as a close neighbor but a friendly state,” Putin said. But instead of getting in touch with the Kremlin after shooting down the Su-24, Erdogan ran to his Western allies. “Turkey turned to its NATO partners to discuss this incident—as if we had shot down their plane and not the other way around,” Putin fumed. “What do they want: to put NATO at the service of ISIS?”
The Kremlin propaganda machine picked up the new narrative without a hiccup. On Tuesday Russians learned for the first time that their favorite foreign tourist destination actually aids and abets terrorists. A red banner on the studio monitor read “stab in the back” on the Channel One evening news. Two weekends ago, Erdogan welcomed Putin at the G20 summit in Antalya with a smile, the state-run broadcaster recalled.
Turkish President Tayyip Erdogan makes a speech during his meeting with mukhtars at the Presidential Palace in Ankara, Turkey, November 26, 2015.  REUTERS/Umit Bektas Thomson ReutersTurkish President Erdogan.
The main reason for Erdogan’s deceit was, for once, not blamed on the Americans. Turkey’s motive for shooting down the Russian warplane, Channel One explained, was to scuttle French President François Hollande’s effort to build a broad international coalition to fight ISIS including Britain, the United States, and Russia. Hollande plans to visit Putin on Thursday, following meetings with British Prime Minister David Cameron and President Barack Obama.
“The Turks are saving ISIS,” one expert told Channel One. Another talking head posited that Turkey was getting revenge for the Russian air force’s bombing of 15 ISIS oil facilities and 525 tanker trucks. Viewers were reminded that Turkey had supported Chechen rebels in their unsuccessful war of independence from Moscow two decades ago.
Bashing Turkey is an old tradition in Russia. Long before the United States was even founded, Russian czars dreamed of liberating Istanbul—formerly the Eastern Orthodox capital of Constantinople—and taking control of the Turkish Straits, which connect the Black Sea to the world’s oceans. The Crimean peninsula was only one of many territories that Russian armies conquered from the shrinking Ottoman Empire. 
For now the Kremlin is taking a wait-and-see stance. Dmitry Peskov, the Kremlin spokesman, ruled out the possibility of a military response. But he echoed Putin’s words that negative consequences were unavoidable.
A first step may be Russian Foreign Minister Sergei Lavrov’s advice to Russians to stop visiting Turkey “for touristic or any other reasons.” The next response may come from Gazprom. The day after Turkey complained about Russian air incursions in October, the state energy company halved the volumes it plans to ship through the Turkish Stream pipeline. 
Read the original article on Slate. Copyright 2015. Follow Slate on Twitter.

SGX reprimands Sunvic for breaking rules on 1.6b yuan of IPTs over 3 years

SGX reprimands Sunvic for breaking rules on 1.6b yuan of IPTs over 3 years

THE Singapore Exchange (SGX) has reprimanded Sunvic Chemical Holdings for breaching listing rules related to 1.6 billion yuan (S$353 million) of interested-person transactions (IPTs) over the three latest financial years.
SGX said that Sunvic, a maker of intermediate chemical products, failed to make immediate announcements of and seek shareholders approval for IPTs that had been undertaken with associates of Sunvic executive director and chief executive Sun Xiao in the 2013, 2014 and 2015 financial years.
The company also failed to ensure that the IPTS were properly disclosed in the company's annual reports for the 2013 and 2014 fiscal years.
Sunvic's auditor, Foo Kon Tan grant Thornton, in April 2014 had highlighted a breach of SGX listing rules related to IPTs between Sunvic and Taixing Jinyan Chemical Technology Co, a company controlled by Mr Sun and his associates. A number of other previously undisclosed IPTs were subsequently revealed by the company.
Although the company announced over the course of five quarterly financial reports that it planned to seek shareholders' approval for the IPTs, a shareholders' vote on those IPTs has yet to be called. In the meantime, the company has continued to enter into new IPTs.
SGX said Sunvic's directors have said that the IPTs were necessary for the business operations of the company, and stopping them abruptly would have a "material adverse impact" on the company. Sunvic's board has also expressed a view that the IPTs "did not result in any prejudice to the interests of the company and its minority shareholders", according to SGX.
Listing rules require companies to immediately announce IPTs when they account for at least 3 per cent of the company's latest audited net tangible assets. Issuers must also obtain shareholder approval for any IPTs with the interest person if the IPTs in total account for at least 5 per cent of net tangible assets.
The IPTs accounted for almost 30 per cent of Sunvic's net tangible assets in year-to-date fiscal 2015.
Sunvic shares closed unchanged at 22 Singapore cents on Monday before the reprimand was announced.

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