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On August 25th, local time, Iranian Parliament Speaker Ghalibaf posted on social media regarding the US sanctions threat, stating that the US knows no one will believe their nonsense and that the US is economically powerless to further restrict relations with other countries. Irans trading partners have made it clear through the media and messages that they do not take these statements seriously. On the afternoon of the 24th local time, US Treasury Secretary Bessenter held a press conference, announcing several economic sanctions against Iran to further increase pressure on the country.Saudi Aramco announced the signing of an agreement and memorandum of understanding with a French company, with a potential total value of over $3.7 billion.On August 25th, local time, U.S. Vice President Vance, speaking about trade negotiations between the U.S. and Canada on the 24th, stated, "Canada made a bunch of unreasonable demands at the last minute." He continued, "I think a deal should be reached, but we need to send a loud and clear message to the Canadian Prime Minister: Stop taking advantage of the people of Maine. Stop taking advantage of the United States. Its all over. We want fair and just trade policy." Vance added that negotiations are ongoing, and "the United States will strive for fairness in trade."Note: U.S. Treasury Secretary Bessenter concludes his remarks.U.S. Treasury Secretary Bessenter: The UAE has been a very good partner and has withstood the main impact of the Iranian attacks.

Plastic Consumption Is Projected to Nearly Double by 2050, According to Studies

Haiden Holmes

Feb 27, 2023 14:08

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According to research published on Monday, plastic consumption in G20 nations is on track to nearly double by the middle of the 21st century unless a comprehensive and legally binding global treaty to reduce consumption is drafted.


According to Back to Blue, a research group operated by the Economist Impact think-tank and the Nippon Foundation, existing initiatives to increase recycling or reduce single-use plastic consumption have "barely scratched the surface" and a more comprehensive global plan is required.


In Uruguay, the United Nations began negotiations on an agreement to combat plastic pollution in November, with the goal of drafting a legally binding treaty by the end of the following year. 175 countries have joined up for the negotiations.


Nonetheless, if negotiations fail, annual plastic production in G20 nations could reach 451 million tonnes by 2050 based on current development rates, according to Back to Blue - an increase of nearly 75 percent from 2019.


The research group stated, "There should be no illusions that the treaty negotiations will be anything but difficult and treacherous." "The likelihood of failure is high, both in terms of no treaty emerging and a treaty that is insufficient to reverse the plastic tide."


It called for a stricter ban on single-use plastic, as well as increased production taxes and mandatory programs to hold companies accountable for the entire lifecycle of their products, including recycling and disposal.


Back to Blue stated that the combined measures could limit annual consumption to 325 million tonnes by 2050, but that would still be a 25 percent increase from 2019 and the equivalent of 238 million garbage vehicles.


Brazil, the United States, Indonesia, and Turkey are among the G20 countries that have yet to introduce national prohibitions on single-use plastic products, according to the report.