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SnapshotsJan 14, 2021 | 21:50 GMT
Targeting China’s third-largest oil company highlights the South China Sea’s importance to U.S. strategy, which is unlikely to change under Biden.
The U.S. Adds Chinese Oil Giant CNOOC to Its Export Blacklist
The U.S. Commerce Department added the Chinese National Offshore Oil Corporation (CNOOC) to its entity list on Jan. 14, effectively cutting off China’s third-largest oil company from U.S. exports. The move highlights the South China Sea’s importance to U.S. strategy, which will likely continue -- though not necessarily expand -- under U.S. President-elect Joe Biden. The Trump administration has significantly increased pressure on CNOOC in recent months, beginning in December when it added CNOOC to a separate U.S. Pentagon list of companies that are either owned by or controlled by the Chinese military, which will force certain U.S. investors to divest from CNOOC’s shares by mid-November. Just hours before the Commerce Department’s announcement, the S&P Dow Jones announced it was removing CNOOC from impacted indices to comply with a Jan. 13 presidential order banning U.S. investment into designated Chinese military-linked companies. As a result, major U.S. exchanges will likely delist
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SITUATION REPORTJan 14, 2021 | 19:03 GMT
Azerbaijan, Turkey and Pakistan: Countries Issue Joint Declaration of Cooperation
Following their second out of trilateral talks in Islamabad, the foreign ministers of Azerbaijan, Turkey and Pakistan declared their intent to cooperate on combatting global issues such as terrorism, drug trafficking, Islamophobia and the discrimination of Muslim minorities, Dawn reported Jan. 14. 
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SITUATION REPORTJan 14, 2021 | 16:59 GMT
China, U.S.: Washington Adds Major Chinese Energy Company CNOOC to Entities List
The U.S. Commerce Department's Bureau of Industry and Security has added the state-owned Chinese National Overseas Oil Corporation (CNOOC) to its entities list, citing the company's involvement in China's moves to enforce its sweeping territorial claims in the South China Sea by harassing Vietnam and other countries’ offshore energy exploration activities in the region, according to a Jan. 14 press release.
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SnapshotsJan 14, 2021 | 16:39 GMT
Italy’s former prime minister and current leader of the Italy Alive party, Matteo Renzi (center), holds a press conference with outgoing ministers Elena Bonetti (left) and Teresa Bellanova (right) on Jan. 13, 2021.
Italy’s Government Is in Crisis. What’s Next?
Italy is in a political crisis after a junior member of Prime Minister Giuseppe Conte’s coalition exited the government, effectively leaving it without a majority in Parliament. The most disruptive (but least likely) scenario would be an early general election, which would undermine Rome’s efforts to handle the health and economic repercussions of the COVID-19 pandemic. On Jan. 13,  the small Italy Alive political party withdrew its ministers from Conte’s cabinet to protest his handling of the COVID-19 pandemic. This has left the senior members of the coalition -- the anti-establishment Five Star Movement and the center-left Democratic Party -- without a majority in Parliament. 
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SnapshotsJan 13, 2021 | 18:46 GMT
German journalist Tanja Samrotzki (right) moderates a panel with the candidates vying for the leadership post of Chancellor Angela Merkel’s Christian Democratic Union (CDU) party -- Friedrich Merz, Norbert Roettgen and Armin Laschet (from left to right) -- on Dec. 14, 2020, in Berlin, Germany.
Germany: What to Expect as Merkel’s Party Elects a New Leader
German Chancellor Angela Merkel’s conservative Christian Democratic Union (CDU) party will elect a new leader on Jan. 15-16. The ideological orientation of the new CDU leader could influence Germany’s domestic politics, as well as its relations with the European Union. The CDU is Germany’s most popular party and its leader stands a strong chance of becoming the country’s next chancellor after the Sept. 26 general election. In 2018, Merkel resigned as CDU leader and announced she would not seek another term as chancellor in 2021. During a virtual congress, the CDU’s 1,001 party delegates will elect a new leader. According to CDU tradition, the next party leader should also be the candidate for chancellor, though some members of the party are questioning this principle. 
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AssessmentsJan 12, 2021 | 21:55 GMT
Destroyed homes are seen in the village of Aldeia da Paz outside Macomia, Mozambique, after a militant attack on Aug. 24, 2019.
In Mozambique, Militants Will Gain Ground Until They Threaten the Government
Militants in Mozambique will continue to gain ground near the liquified natural gas (LNG) park under construction in the country’s north until the government deems the economic and political threat large enough to warrant foreign support. On Jan. 1, the French supermajor Total evacuated some of its personnel from its $20 billion LNG project being built on the Afungi Peninsula in Mozambique’s northernmost province of Cabo Delgado, effectively freezing work at the site. The decision came after the Islamic State affiliate in Mozambique, Ahlu Sunnah Wa-Jama (ASWJ) -- which is also a part of Islamic State’s Central African Province -- attacked a village less than one kilometer from the facility’s airstrip.
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SITUATION REPORTJan 12, 2021 | 19:45 GMT
Cuba: Country Designated as U.S. State Sponsor of Terrorism
The administration of U.S. President Donald Trump declared Cuba a state sponsor of terrorism, citing the country’s refusal to extradite 10 guerilla leaders of Colombia’s National Liberation Army (ELN), as well as an American who fled to Cuba after being convicted of killing a New Jersey State Trooper, Reuters reported Jan. 11.
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AssessmentsJan 6, 2021 | 19:01 GMT
Peruvians wearing masks to protect themselves from COVID-19 wait outside a bank to collect government aid bonuses in Iquitos, Peru, on June 15, 2020.
Peru's Economy Gets a Wake-Up Call. Will Its Leaders Listen?
Peru is a rare emerging market country that has time to address long-term issues without putting immediate growth at risk -- but only if it takes advantage of that grace period to act. Peru’s primary economic headwinds include reduced growth momentum, with concerns about the country’s long-term financial prospects and political stalemates delaying crucial economic reforms. Such headwinds could hamper fiscal deficit reduction if Peru cannot legislate tax increases or resist spending pressure. In addition, global GDP growth will determine the demand for commodities and metals prices.
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