International

Sinaloa cartel network dismantled in Spain following kidnapping and ransom incident

Fourteen members of the Mexican Sinaloa drug cartel were arrested in Spain following an investigation that began with the kidnapping and murder of an associate, the Spanish National Police announced on Sunday.

“The dismantled criminal network, based in Catalonia, is allegedly involved in the kidnapping and death of a man whose body was found in a wooded area of the region,” explained the National Police in a statement. The victim had traveled from Italy to meet with some of the leaders of the gang.

The criminal organization was “mainly composed of Mexican individuals” and was “linked to the Mexican Sinaloa cartel.”

The victim, a 46-year-old man, was allegedly working for the organization and had traveled to Barcelona from Italy to meet with leaders of the criminal network. The kidnapping took place between late May and June, and the victim’s family in Kosovo alerted the police after receiving a ransom demand of €240,000 (approximately $253,000). The family paid part of the ransom, $32,000 in cryptocurrency.

The victim’s body, whose nationality was not disclosed, was found in August in a forest, showing signs of violence and in an advanced state of decomposition.

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The arrested individuals are allegedly connected to drug trafficking, money laundering, kidnapping, and murder. They received packages from Mexico containing methamphetamine soaked into pieces of clothing, which were sent to Catalonia. Once in Spain, they extracted the drug in a laboratory they operated.

The Sinaloa cartel is named after the northwestern Mexican state where it was founded and remains one of the most important criminal organizations in the world, despite the incarceration of two of its historic leaders, Joaquín “El Chapo” Guzmán and Ismael “Mayo” Zambada, in the United States.

International

US panel backs Trump-themed coin amid controversy

The United States Department of the Treasury confirmed to AFP that the Commission of Fine Arts approved the design of a new collectible coin featuring Donald Trump, with members of the commission appointed by the current administration.

According to the proposal, the coin will feature an image of Trump standing with clenched fists over a desk on the obverse, while the reverse will display an eagle, a traditional symbol of the United States.

The sale price of the collectible has not yet been disclosed, although the United States Mint typically offers similar items for more than $1,000.

“There is no more iconic portrait for the front of these coins than that of our president Donald Trump,” U.S. Treasurer Brandon Beach said in a statement sent to AFP. He added that two additional coins — a $1 piece and a one-ounce gold coin — are also under consideration.

However, the Citizens Coinage Advisory Committee (CCAC), another body responsible for reviewing new coin proposals, declined to discuss the Trump design in late February.

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“Only nations governed by kings or dictators place the image of a sitting leader on their currency,” said Donald Scarinciat the time. “No country in the world has minted coins featuring a democratically elected leader during their term in office,” he added.

When contacted by AFP, the Treasury Department did not immediately respond to requests for further comment.

International

Fed’s Waller warns of rising inflation risks amid Middle East conflict

Christopher Waller, a governor at the Federal Reserve, said Friday that he is increasingly concerned about the inflationary impact of the ongoing conflict involving United States and Israel against Iran, particularly due to the prolonged closure of the Strait of Hormuz.

Waller, who had supported interest rate cuts over the past year amid concerns about the labor market, said he has shifted his stance in recent weeks due to rising inflation risks.

“Since the Strait of Hormuz was closed, it suggests this conflict could be much more prolonged and that oil prices will remain elevated for longer,” Waller said in an interview with CNBC.

“Therefore, this indicates that inflation is a greater concern than I had previously assessed,” he added.

Waller also backed the Federal Reserve’s decision earlier this week to keep interest rates unchanged, signaling a more cautious approach as global geopolitical tensions continue to affect economic outlooks.

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International

Brazil offers to mediate Colombia-Ecuador tensions, calls for restraint

The government of Brazil has offered to mediate in the ongoing tensions between Colombia and Ecuador, while calling on both nations to exercise restraint.

In a statement released Wednesday, Brazil’s Ministry of Foreign Affairs urged the parties involved to act with moderation and seek a peaceful resolution to the dispute.

“Brazil encourages all sides to act with moderation in order to find a peaceful solution to the controversy. It stands ready to support dialogue efforts aimed at preserving peace and security in the region,” the statement said.

Brazil also expressed “serious concern” over reports of deaths in the border area between Colombia and Ecuador, noting that the circumstances surrounding the incidents have not yet been clarified.

The diplomatic move comes amid rising tensions between the neighboring countries, increasing regional concern over stability and security along their shared border.