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Russia Limits Enriched Uranium Exports To US

The restriction raises supply concerns for US nuclear power plants, which relied on Russia for a quarter of their enriched uranium last year.

Russia has imposed temporary restrictions on exporting enriched uranium to the United States, the government said.

The restrictions apply to exports to the United States and those under foreign trade agreements with entities registered in US jurisdictions, with waivers allowing deliveries under one-time licenses issued by the Federal Service for Technical and Export Control, reports Xinhua news agency.

The restriction raises supply concerns for US nuclear power plants, which relied on Russia for a quarter of their enriched uranium last year.

The move follows a US law signed in May by US President Joe Biden banning Russian uranium imports until 2040, with exceptions allowed until 2028.

US purchases of Russian uranium totalled $574 million this year, down by nearly 32 per cent from a year ago, according to US statistics.

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IAEA Chief Visits Iran’s Nuclear Facilities

As part of his two-day visit to Iran, Director General Rafael Grossi visited the enrichment facilities at Natanz and Fordow on Friday.

Director General of the International Atomic Energy Agency (IAEA) Rafael Grossi visited two Iranian nuclear sites in Natanz and Fordow for the first time.

During his visit, Grossi was accompanied by Massimo Aparo, IAEA deputy director general and head of the IAEA Department of Safeguards, Behrouz Kamalvandi, spokesman of the Atomic Energy Organization of Iran (AEOI), and Kazem Gharibabadi, Iranian deputy foreign minister for legal and international affairs, reports Xinhua quoting the semi-official Fars news agency on Friday.

On Thursday, Grossi told reporters after his meeting with Iranian Foreign Minister Seyed Abbas Araghchi that his scheduled visit to the two facilities is an important part of his trip to Iran, noting that “it will help me gain a complete image of the development of Iran’s nuclear program.”

IAEA chief meets with Iranian President

On Thursday, Grossi also met Iranian President Masoud Pezeshkian and Mohammad Eslami, president of the AEOI, on the country’s nuclear activities.

Grossi’s visit to Iran came as a number of outstanding issues remain unresolved between Tehran and the IAEA, including the agency’s claims to have found “traces of uranium” at a number of “undeclared” Iranian sites, which the country has repeatedly rejected.

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New India-IEA pact to bolster mineral sector

This collaboration will enable India to streamline its policies, regulations, and investment strategies in the critical mineral sector, aligning them with global standards and best practices…reports Asian Lite News

The Ministry of Mines on Wednesday signed a Memorandum of Understanding (MoU) with the International Energy Agency (IEA) on cooperation in the area of Critical Minerals used in the manufacture of electronic goods, electric cars and military hardware.

The collaboration will provide India with access to reliable data, analysis, and policy recommendations in the critical mineral sector, thereby enhancing its decision-making capabilities and ensuring strategic resource management.

The International Energy Agency (IEA) is an international organisation within the framework of the Organisation for Economic Co-operation and Development (OECD).

This collaboration will enable India to streamline its policies, regulations, and investment strategies in the critical mineral sector, aligning them with global standards and best practices.

“By learning from the experiences of other IEA member states and associated countries, India can accelerate its progress towards sustainable and resilient energy systems,” the Ministry of Mines said in a statement.

“The MoU with the IEA will also facilitate capacity building and knowledge exchange between India and the IEA member states. Collaboration on data collection, modelling, and analysis would enhance India’s technical capabilities and institutional capacity in the critical mineral sector. Furthermore, the joint research projects, workshops, and training programmes carried out under this MoU will help in fostering collaboration and innovation in technology development, extraction techniques, and recycling methods for critical minerals,” the ministry added.

Approval for the proposal of signing the MoU between IEA and Govt. of India, Ministry of Mines was accorded by the Union Cabinet on October 3, 2024. The MoU has been signed by the Secretary, the Ministry of Mines, V. L. Kantha Rao, and IEA Executive Director Fatih Birol.

The MoU has been exchanged between Joint Secretary, Ministry of Mines, Vivek Kumar Bajpai, and Head of Energy Minerals Analysis, Tae-Yoon Kim. Union Minister of Mines, G. Kishan Reddy was also present at the signing ceremony at Shastri Bhawan in the national capital.

This collaboration marks a significant step towards securing India’s critical mineral resources while aligning with global best practices in the critical mineral sector, the statement said.

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‘Brazil’s G20 priorities align well with India’s 2024 goals’ 

Prime Minister Narendra Modi will attend the G20 Summit in Brazil and will also visit Nigeria and Guyana during his three-nation tour beginning on November 16. ..reports Asian Lite News

African Union, which was inducted as a G20 member during India’s presidency, will attend the Brazil meeting of the grouping for the first time as a member, Foreign Secretary Vikram Misri said on Wednesday, noting that India will join two of the three pillars of Brazil’s flagship initiative at the G20 Summit, a global alliance against hunger and poverty. 

Prime Minister Narendra Modi will attend the G20 Summit in Brazil and will also visit Nigeria and Guyana during his three-nation tour beginning on November 16. 

“The visit to Brazil is for the 19th G20 Summit, which is being held on November 18,19. This is PM Modi’s third official visit to Brazil. He visited there in 2014 and then in 2019. Both occasions were for the BRICS Summit, which was being hosted by Brazil in those years. This particular G20 Summit is also going to be a special summit as it will be the first time that the African Union will be taking its place in the G20 grouping as a member. It was at the Delhi Summit last year that the African Union was inducted as a full member of the G20,” he said. 

The Foreign Secretary said that the priorities of the Brazilian presidency, align very well with the priorities that India had championed and voiced during its presidency of the G20. 

Apart from the G20 member countries, Brazil has also invited 18 guest countries- five each from Africa, Latin America and Asia, and three countries from Europe. Fifteen international organisations will be attending the summit, he said. 

Misri said that the G20 summit is important for India as major developing economies of the world would be a part of the summit to discuss ideas for development. 

“For India, the summit will be important as we look to the continuity of our priorities from the New Delhi summit, where several issues of interest, especially to emerging markets and developing economies were also discussed. The G20 has emerged as the primary forum for international economic cooperation and issues of global significance,” he said. 

“It provides an opportunity for leaders of the 21 largest economies in the world, representing about 88 per cent of the global GDP, 78 per cent of international trade and three-quarters of the world’s population to come together and discuss key issues impacting the world, such as progress on sustainable development goals, multilateral reforms tackling environmental and climate challenges, debt sustainability, bridging the global digital divide, energy transition and emerging technologies,” he added. 

Talking about the priorities of Brazilian presidency, Misri said that they are similar to India’s policies that it adopted during its presidency last year. 

“The theme of this G20 is building a just world and a sustainable planet. And the three key priorities of the Brazilian Presidency are social inclusion and the fight against hunger and poverty, energy transitions and the promotion of sustainable development in its economic, social and environmental dimensions, and finally, reform of global governance institutions,” he said. 

“The flagship deliverable of the Brazilian presidency is the Global Alliance Against Hunger and Poverty, which will be launched during the inaugural session of the Rio Summit. This will be an initiative that is open to non-G20 countries as well as also national, regional, and international organizations, regional and multilateral development banks, civil society organizations, and philanthropic institutions,” he added. 

Misri said that there are three pillars of the alliance, and India would be joining two of them. 

“There are three pillars under this alliance and India will be joining the national and knowledge pillars of this alliance. This will be the main sessions will be followed by a closing ceremony where the chairmanship of, or the presidency of the G20 will be handed over by President Luiz Inacio Lula da Silva of Brazil to President Cyril Ramaphosa of South Africa. And this will also, in a sense, cap a run of four emerging markets holding the presidency in succession of the G20, starting with Indonesia, India, Brazil now, and South Africa the next year,” he said. 

Misri added that the key priorities of Brazilian presidency are hunger and poverty, the same as India’s concerns during its presidency. 

He said the target of tripling renewable energy capacity and doubling the rate of energy efficiency by 2030 are again being reaffirmed at the G20 this year. 

“As regards energy transition, the ambition set in Delhi on tripling renewable energy capacity and doubling the rate of energy efficiency by 2030 are again being reaffirmed at the G20 this year. Another point of interest, which is the empowerment of women working group, which was envisioned during India’s presidency, was convened for the first time this year during the Brazilian presidency, and it cemented the narrative of women-led development in the G20,” he said. 

“So the ambitious language that was reflected in the New Delhi leaders’ delegation has provided the basis for many of the G20 outcome documents that have been adopted this year. Some of our flagship priorities such as digital public infrastructure, mission life, women-led development, etc., have all found resonance. We look forward to a very successful and productive G20 summit in Rio,” he added. 

PM Modi will visit Nigeria on November 16,17 and will travel to Rio De Janeiro during November 18-19 to attend the G20 Summit. He will undertake a state visit to Guyana from November 19 to 21. (ANI) 

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South Africa Eyes G20 Summit to Boost Multilateralism

South Africa will assume the G20 Presidency on December 1 and will host the summit in 2025….reports Asian Lite News

South Africa expects the upcoming G20 summit to strengthen multilateralism and reform the global institutions of governance, South Africa’s top diplomat said.

Minister of International Relations and Cooperation Ronald Lamola made the remarks while briefing the media in Pretoria, South African administrative capital, about the implementation of his country’s foreign policy and upcoming engagements, Xinhua news agency reported.

He explained that the G20 Leaders’ Summit, scheduled from November 18 to 19 in Rio de Janeiro, Brazil, is the moment when heads of state and government approve the agreements negotiated throughout the year and point out ways of dealing with global challenges.

“South Africa is already playing an enhanced role as a member of the G20 Troika, together with Brazil and India, in support of one of Brazil’s foremost priorities on the reform of the global governance institutions wherein G20 leaders are expected to advance efforts for a reinvigorated and strengthened multilateral system, rooted in the purposes and principles of the UN Charter and international law, with renewed institutions and a reformed governance that is more representative, effective, transparent, and accountable, reflecting the social, economic, and political realities of the 21st century,” said Lamola.

He pointed out that in terms of promoting the interests of the Global South, South Africa considers the G20 to be an important vehicle for advancing the aspirations of developing countries and Africa’s development priorities in particular.

It is expected that the G20 will continue to support emerging and developing economies to achieve sustainable development, added Lamola.

South Africa will assume the G20 Presidency on December 1 and will host the summit in 2025.

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UK, Cambodia hold 2nd Joint Trade and Investment Forum 

The forum succeeded in its aims to assess progress, through measuring advancements in trade policy, investment for development…reports Asian Lite News

The Embassy of the United Kingdom and the Ministry of Commerce of the Kingdom of Cambodia hosted the 2nd UK-Cambodia Joint Trade Investment Forum (JTIF) on at the Rosewood Hotel in Phnom Penh, presided over by His Excellency Dominic Williams MBE, British Ambassador to Cambodia, and Her Excellency CHAM Nimul, Minister of Commerce of Cambodia. 

The forum succeeded in its aims to assess progress, through measuring advancements in trade policy, investment for development, and business successes between the UK and Cambodia.  

It will also enhance partnerships by raising awareness of the UK-Cambodia economic relationship by positioning the private sector as our key partner in delivering growth.  

Represent industry by highlighting the role of the British Chamber of Commerce in Cambodia as our first partner in advocating for UK commercial interests in Cambodia, whereby the Cambodia Chamber of Commerce plays important role in spearheading Cambodian private sector’s interest vis-à-vis UK partners.  

Plan for the future, by exploring possibilities and prospects for the year 2030 and beyond, setting the direction for our partnership, offering necessary development assistances, and preparing for upcoming challenges and opportunities.  

Align strategically, with a focus on key areas for economic growth, utilising tools such as Investment Partnerships, Trade Missions, and the UK-ASEAN Economic Integration Programme.  

Resolve challenges, through candid discussion and addressing trade barriers from both UK and Cambodian perspectives. 

The 2nd JTIF attracted key UK businesses and investors to Cambodia from the region, including Singapore and Vietnam. The forum served as a platform to showcase a joint commitment to boost trade between the two countries and highlight a number of initiatives designed for that purpose. These include UK development programmes supporting Cambodia’s economic diversification and green transition, driving growth in both countries; partnering with Cambodian exporters get their goods to the UK market, and to take advantage of the Developing Countries Trading Scheme; promoting Cambodia as a investment destination; and the both sides’ intention to establish a double taxation agreement and other necessary trade-related agreements.  

Dominic Williams MBE, British Ambassador to Cambodia said, “I firmly believe that the UK-Cambodia trade and investment relationship brings huge benefits to both sides and plays a significant role in supporting Cambodia’s development goals. The UK is a top ten export market for Cambodian goods, and we are keen to help even more Cambodian producers to sell their amazing products to UK consumers. This will support key sectors of Cambodia’s economy to grow, and support jobs for hard-working Cambodians.  I am also keen to help UK businesses expand their presence in Cambodia, especially in education, infrastructure and financial services. The UK has firms with exceptional experience in these sectors, which they can deploy both to generate revenue for the UK and to enhance Cambodia’s global competitiveness.” 

The focus on 2030 aligns with several critical milestones. It coincides with the target date for the UN Sustainable Development Goals, which guide both nations’ economic planning. Cambodia’s Vision 2030 aims to achieve Upper-Middle Income Status, potentially diversifying opportunities for UK businesses. 2030 marks a crucial deadline for global climate action, with implications for sustainable practices in Cambodia’s key sectors. 

H.E. Mrs. CHAM Nimul, Minister of Commerce said, “Today’s forum is both timely and essential, serving as a crucial platform to deepen our practical, resilient, and forward-looking partnerships, not only by creating opportunities for frank and open discussion but also by facilitating strategic business partnerships that drive sustainable and inclusive growth. I wish to underscore the significance of Cambodia’s trade integration into the region and the world. Cambodia has benefited greatly from regional and bilateral relations that have shaped and reinforced Cambodia’s commitment to inclusive multilateralism. Looking ahead, the path to sustainable prosperity requires steadfast commitment from all stakeholders, including sound public- private partnership mechanisms, the development of tailored regulations and policies, and support for the private sector to fully capitalize on existing advantages, particularly preferential and incentivized benefits.” 

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India not attending World Leaders Climate Action Summit 

Responding to India not attending the WLCAS, an India-origin observer at the climate talks said on condition of anonymity, “These are not talks, just the country statements…reports Asian Lite News

India is not attending the two-day World Leaders Climate Action Summit (WLCAS) beginning Tuesday with country statements at the 2024 UN climate conference (COP29) in Baku, Azerbaijan that is focussed heavily on securing a new climate finance target for countries most vulnerable to climate impacts. 

Ilham Aliyev, President of host Azerbaijan, has invited heads of state and governments to participate in the WLCAS when the first part of the high-level segment will also take place. Eighty-two national leaders, vice-presidents and senior envoys are lined up to speak on Tuesday and Wednesday. 

Barbados Prime Minister Mia Mottley is the pick of the bunch, but there’s a host of leaders including Spain’s Pedro Sanchez, Nepal’s Ram Chandra Paudel and Congo’s Judith Suminwa Tuluka whose countries have been battered this year. Britain’s Prime Minister Keir Starmer will offer the rare prospect of praise as he lands the UK’s new 2035 target. UK climate advisors recommended 81 per cent greenhouse gas cuts on 1990 levels last month. 

Climate boss Ed Miliband says London is committed to “accelerating” climate action, but don’t expect a hike on climate finance from a cash-strapped nation, pointed out a climate negotiator from a developing country. 

The invitation to the WLCAS signifies the importance for world leaders to engage and enhance ambition and enable action to reduce emissions, adapt to climate change, and address loss and damage, to implement and transform key climate-related decisions into concrete actions and credible plans to tackle climate change, says the host. 

Responding to India not attending the WLCAS, an India-origin observer at the climate talks said on condition of anonymity, “These are not talks, just the country statements. Not all countries are supposed to make it. Another high-level segment is towards the end of the summit. India is very much part of it.” 

Explaining further, the observer said, “Since leaders started coming, so a stage was created for them to make speeches, only a recent phenomenon, post-Glasgow (in 2021). So nothing normal about it.” 

The second part of the high-level segment will take place on November 19 and 20. This will be for parties whose heads of state and governments did not deliver a national statement during the first part. 

India’s Minister of State for Environment, Forest and Climate Change Kirti Vardhan Singh will be leading a 19-member delegation and deliver India’s national statement at the high-level segment in the second segment. 

Prime Minister Narendra Modi and Minister of Environment, Forest and Climate Change Bhupender Yadav had attended COP28 last year in Dubai. PM Modi delivered the national statement at the opening ceremony of the high-level segment. 

India has so far played a key role in shaping global climate finance frameworks to address the urgent funding needed for both mitigation and adaptation efforts. 

At Baku, India will seek the New Collective Quantified Goal (NCQG), a framework that aims to replace the annual commitment of $100 billion by 2020 made by developed countries in 2009 — a target met only once, in 2022. 

Just ahead of the onset of WLCAS, COP29 President Mukhtar Babayev held a bilateral meeting with John Podesta, Senior Advisor to the U.S. President for International Climate Policy, to discuss the urgent need for enhanced global collaboration and partnerships to drive inclusive climate action solutions and build on the outcomes of the first day of COP. 

UN Climate Change Executive Secretary Simon Stiell addressed the official opening of COP29 on Monday, making a passionate plea for urgent, global cooperation on climate change. 

“We mustn’t let 1.5 slip out of reach. Even as temperatures rise, the implementation of our agreements must claw them back,” said Stiell. 

“Clean energy and infrastructure investment will reach two trillion dollars in 2024. Almost twice that of fossil fuels. The shift to clean-energy and climate-resilience will not be stopped. Our job is to accelerate this and make sure its huge benefits are shared by all countries and all people,” he said. 

As part of its plan to enhance ambition and enable action, the COP29 presidency, in partnership with the International Energy Agency (IEA), on Monday shared five key opportunities for COP29 to demonstrate positive progress on energy goals identified at COP28. 

The five opportunities identified are: Scale up energy storage and electricity grids as a key enabler to achieving the global goal of tripling renewable energy capacity this decade and ensuring that the full benefits are realised; ensure countries accelerate policy implementation to achieve the goal of doubling energy efficiency progress by 2030; maintain a focus on cutting emissions from methane and fossil fuels; implement solutions to boost clean energy investment in developing economies to support their transitions; and the next round of Nationally Determined Contributions should be informed by the Global Stocktake (GST) outcomes. 

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Russia rejects news about turning down Lanka’s BRICS bid 

The Russian Embassy further informed that Sri Lanka’s application would be considered by BRICS in due course of time, along with full consultation and consensus…reports Asian Lite News

The Russian embassy in Sri Lanka rejected the fake news being circulated claiming that Sri Lanka’s bid to join the BRICS grouping has been rejected. 

Sharing the clarification on the social media platform, X, the Russian Embassy in Colombo released a press statement regarding the issue, and said the Russian BRICS Chairship welcomed Sri Lanka’s interest. 

“The Embassy noticed the misleading article regarding the Sri Lanka’s bid for BRICS membership which was published in the “Sunday Island” on November 09, 2024″. 

“The Embassy would like to highlight that Sri Lanka has applied to join BRICS. The Russian BRICS Chairship welcomed Sri Lanka’s interest”, the press statement noted. 

The Russian Embassy further informed that Sri Lanka’s application would be considered by BRICS in due course of time, along with full consultation and consensus. The application would be considered along with the bids of numerous other countries who have also applied. 

Notably, various countries have expressed interest in joining the BRICS grouping in recent times. These include nations like Malaysia and Thailand amongst others. 

“The local media reports that Sri Lanka’s application has been rejected are wrong,” the Russian Embassy added. 

The 16th BRICS Summit took place in Kazan, Russia from October 22 to October 24. 

BRIC, as a formal grouping, started after the meeting of the Leaders of Russia, India and China in St Petersburg on the margins of the G8 Outreach Summit in 2006. 

The grouping was formalized during the first meeting of BRIC Foreign Ministers on the margins of UNGA in New York in 2006. The first BRIC Summit was held in Russia’s Yekaterinburg in 2009. 

It was agreed to expand BRIC into BRICS with the inclusion of South Africa at the BRIC Foreign Ministers’ meeting in New York in 2010. South Africa attended the 3rd BRICS Summit in Sanya in 2011. 

A further expansion of BRICS took place in 2024 with five new members – Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. 

In a statement issued by the Prime Minister’s Office, it was expressed that the expansion of BRICS with the addition of new members last year has added to its inclusivity and agenda for the global good. 

India has routinely expressed great faith in multilateral institutions such as BRICS. 

“India values the close cooperation within BRICS which has emerged as an important platform for dialogue and discussion on issues concerning the global developmental agenda, reformed multilateralism, climate change, economic cooperation, building resilient supply chains, promoting cultural and people to people connect, among others,” PM Modi had earlier noted. (ANI) 

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‘India’s approach aimed at building long-term partnerships’ 

Jaishankar highlighted that as the world is moving towards greater multi-polarity, it becomes essential to devise appropriate methods of cooperation to keep up with the times….reports Asian Lite News

External Affairs Minister S Jaishankar, elaborated on India’s global approach on Monday, and said that it is not ‘transactional’ but is rather aimed at developing long-term partnerships with other countries. 

The Foreign Minister was delivering remarks at the India-Russia Business Forum where he highlighted 10 points of convergence for taking the relationship of the two countries forward. 

During his speech, Jaishankar reminded that the Business Forum commences barely 3 months after the Annual Summit between President Putin and PM Modi in Moscow and another cordial interaction during the BRICS summit in Kazan last month. 

“Those occasions have provided a strategic direction, whose economic dimension we seek to realize through this gathering”, EAM noted. 

He highlighted that as the world is moving towards greater multi-polarity, it becomes essential to devise appropriate methods of cooperation to keep up with the times. 

Jaishankar said, “We have a long history of strong convergence and deep friendship allows us to make the best of both factors. That the two economies are so complementary is also a key consideration. A partnership between an India that has an 8 per cent growth rate for multiple decades ahead, and a Russia that is a key natural resources provider and a major technology leader, will serve both of them and the world well”. 

Earlier, Russian President Vladimir Putin had referred to India as “a natural ally of Russia” at the Valdai Discussion Club. 

Jaishankar said that there are 10 key developments the two countries must focus on. 

The EAM gave a call to take up the trade between India and Russia to 100 billion dollars by 2030, and along with it, vigorously taking forward the India-Eurasian Economic Union trade. 

Increasing cooperation in the Russian Far East was emphasised by the Foreign Minister, which was also discussed during the Annual Summit in Moscow this year. 

He further highlighted another critical aspect of the relationship, which is to ultimately create a better trade balance with national currency settlements. 

Jaishankar also gave a call for continued attention to the three important connectivity projects the two countries are working on. These were also highlighted by the First Deputy PM of Russia in his speech. These include the INSTC, Chennai-Vladivostok Corridor and the Northern Maritime Route. 

“A growing Russian appreciation of Make In India as a program to deepen business will certainly help to take forward our cooperation in many many domains,” he told the gathering. 

Speaking about the longstanding economic partnership between the two countries, he added, “We are all aware of the complementary nature of our respective economies. If we recognize that fully, then it also follows that our approach is not transactional but aimed at building long-term partnerships”. 

“In energy domains such as oil, gas, coal or uranium, India will always be a major player in the international markets. This applies as well to the demand for fertilizers of various kinds. Constructing a mutually beneficial arrangement will help us both address the volatility and the uncertainty of our times,” Jaishankar further said. 

He gave a call to the leaders gathered to come up with mutually workable solutions for the benefit of both partner countries. 

The bilateral relationship between India and Russia has remained strong and stable over more than 75 years. The India-Russia partnership has been among the steadiest of the major relationships in the world in the contemporary era with a shared commitment to a multipolar world and continues to expand beyond the traditional areas of military, nuclear and space cooperation. (ANI) 

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Putin Okays Strategic Treaty with North Korea

The preamble to the treaty said that the document aligns with the core interests of the two peoples, aiming to ensure regional and global peace, security and stability….reports Asian Lite News

Russian President Vladimir Putin has signed into law a treaty on comprehensive strategic partnership with the Democratic People’s Republic of Korea (DPRK)

This development happened on Saturday, as per Xinhua news agency.

The treaty, originally signed by the top leaders of the two countries in Pyongyang on June 19, was ratified by the State Duma, or the lower house of parliament, on October 24. Russia’s upper house of parliament, the Federation Council, approved the bill on November 6.

The preamble to the treaty said that the document aligns with the core interests of the two peoples, aiming to ensure regional and global peace, security and stability.

Under the terms of the agreement, Russia and the DPRK are committed to developing a sustained partnership based on mutual respect for sovereignty, territorial integrity, non-interference in internal affairs, equality, and other principles of international law that support friendly relations and cooperation among nations.

The treaty also includes provisions for immediate military and other forms of assistance if either nation faces an armed attack, as stipulated by Article 51 of the United Nations Charter.

The treaty will come into effect upon the exchange of ratification instruments.

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