As the war in Ukraine officially lasts now more than a year, a new player on the chess board might be involved soon; China. US officials have intelligence that confirms China is “contemplating” sending weapons to Russia. Although there are no signs it happened yet, US national security advisor Jake Sullivan mentioned it could not be ruled out soon. The US has already warned China it would face “real costs” if it were to proceed with delivering arms to Russia.
Monday was an important day for the UK, where prime minister Rishi Sunak and EC president Ursula von der Leyen met to finalise the Brexit deal. The main point of interest was overhauling Northern Ireland’s trading arrangements. The meeting ended their dispute, which has continued since the UK withdrew from the EU’s single market and customs union in 2021.
Tip: Take a look at all the Oils and Fats products Vesper offers on its’ commodity intelligence platform.
An interesting shift in Asia, according to an analysis of the Financial Times. Hong Kong, the major financial hub in Asia, has lost ground to Singapore, mainly due to the Chinese zero-covid policies. Experts say the trajectory for Singapore to become Asia’s financial centre is long, but the Singapore government could be really happy with where things are headed now.
Start a free trial to access the full bi-weekly Vesper Highlights on the Oils & Fats Market.
