International

Argentina complains to Russia over vaccine delivery

AFP

Argentina has complained to Russia about delays in delivering second doses of its Sputnik V coronavirus vaccine in a letter warning of breach of contract repercussions, the government in Buenos Aires said Thursday.

The letter, dated July 7, was sent to Russia’s Direct Investment Fund (RDIF), which financially backed Sputnik V, presidential adviser Cecilia Nicolini told reporters, confirming a report by La Nacion newspaper.

In December, Argentina became the first Latin American country to approve the Sputnik vaccine, with the president and his deputy among the first to receive it in a public show of confidence.

The letter said Argentina “urgently” needed delivery of second doses and warned that “the entire contract is at risk of being publicly cancelled.”

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Inoculation with Sputnik V, produced by Russian institute Gamaleya, requires two doses that differ from one another and cannot be swapped or mixed with other vaccines.

The letter said Argentina understood there had been “production difficulties”.

“But now, seven months later, we are still far behind, while we are starting to receive doses from other providers on a regular basis, with schedules that are met.”

The country of 45 million people had signed a deal with Russia for 30 million Sputnik V doses, of which it has received fewer than 12 million, according to Nicolini.

It has received 9.37 million doses of the first shot, but only 2.49 million of the second.

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At the start of its vaccine campaign, Argentina sought to give a first dose to the largest number of people, to be followed three months later by the second.

Most people who received their first Sputnik V shot are still awaiting the second one more than three months later.

The government has in recent weeks sought to accelerate its vaccination driven in a bid to preempt a rise in infections driven by the highly-contagious Delta virus variant, not yet circulating in Argentina.

Argentina is also using the AstraZeneca and Sinopharm vaccines, and recently received a donation of Moderna shots from the United States.

Just over 17 million Argentines have received a first shot of one of the vaccines, and fewer than six million have received two jabs.

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The country has registered some 4.79 million coronavirus cases and nearly 103,000 deaths.

Russia registered Sputnik V last August ahead of large-scale clinical trials, prompting concern among experts over the fast-tracked process.

It has since been declared safe and over 90 percent effective in a report published by leading medical journal The Lancet, restoring confidence in Russia’s jab.

The RDIF has signed production agreements with several countries, including India, which is expected to produce several hundred million doses per year.

The RDIF says its two-dose vaccine has been approved in 68 countries and that it has applied for registration in the European Union.

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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.