
China and Russia vetoed a UN Security Council draft resolution aimed at ensuring the secure use of the Strait of Hormuz for commercial maritime routes. The resolution, backed by Gulf States and tabled by Bahrain, was voted on April 7, 2026. Of the 15 Security Council members, 11 voted in favor, with Colombia and Pakistan abstaining. Bahrain's Foreign Minister Abdullatif bin Rashid Al Zayani stated the draft was not adopted due to a permanent member's negative vote. The resolution encouraged states to coordinate defensive efforts for navigation safety in the Strait of Hormuz, including escorting vessels. It also demanded Iran cease attacks on commercial vessels and civilian infrastructure. The proposal by Bahrain, in coordination with other Gulf Cooperation Council members, followed multiple negotiation rounds and regional escalation. Earlier drafts included invoking Chapter VII of the UN Charter and authorizing the use of force, which China and Russia opposed, arguing it could legitimize force without clear limits and failed to address the crisis's root causes. While explicit reference to Chapter VII was removed, the determination of Iran's actions as a threat to international peace and security remained. The current draft expresses the Council's readiness to consider further measures against those undermining navigation freedom in the Strait of Hormuz and Bab al-Mandab Strait.
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This summary was AI-generated from a story originally published by The Reporter Ethiopia.
Must ReadThe Council of the European Union has expanded its sanctions against Sudan, banning the import of Sudanese gold and restricting the export of key mining chemicals like mercury and cyanide. These measures aim to cut off revenue streams financing the country's civil war, which erupted on April 15, 2023, between the Sudanese Armed Forces and the paramilitary Rapid Support Forces. Gold has become a major funding source for the conflict, and limiting its trade, along with access to mining chemicals, is intended to reduce financial resources for those driving the violence. The sanctions include exemptions for humanitarian operations, public health emergencies, or disaster response. This action follows the EU's establishment of a sanctions framework for Sudan in October 2023, which has been expanded several times, most recently in January 2026. The conflict has displaced over 14 million people and led to widespread violations of international humanitarian and human rights law. EU foreign policy chief Kaja Kallas reiterated the bloc's call for an immediate ceasefire and warned against external actors fueling the conflict, stating the EU would use all available tools, including additional sanctions, to pressure those sustaining the war.
Must ReadTewolde Gebremariam, former CEO of Ethiopian Airlines, has been appointed chief executive of Pakistan International Airlines PIA. This appointment follows PIA's recent privatization, with ownership transferred from the Pakistani government to a consortium led by the Arif Habib Group, a local business conglomerate. Gebremariam's career at Ethiopian Airlines spanned nearly four decades, during which he served as CEO for 11 years, overseeing significant growth including quadrupling annual revenue to USD 4.5 billion and expanding the fleet to over 130 aircraft. He retired from Ethiopian Airlines in March 2022 due to personal health reasons. At PIA, Gebremariam is tasked with overseeing growth to a fleet of 65 aircraft and a return to profitability, as the airline has faced major losses, mismanagement, and regulatory issues, including a fatal crash in May 2020 and revelations of pilots with fake licenses.
Must ReadThe National Bank of Ethiopia NBE has removed the credit growth cap for commercial banks, nearly three years after its introduction in August 2023. This decision follows a Monetary Policy Committee meeting, where regulators noted a successful transition to an interest-based policy framework. The cap, initially set at 14 percent to curb inflation, was later adjusted to 18 percent in December 2024 and 24 percent in September 2025. Although inflation has eased due to economic reforms and forex market liberalization from mid-2024, the NBE anticipates continued double-digit headline inflation for the next six months, partly due to the Middle East conflict. In response, the NBE is increasing its policy rate by one percentage point to 16 percent as a counter-tightening measure. Additionally, the central bank is reducing the forex surrender requirement for goods exports from 50 percent to 30 percent to boost export competitiveness and market confidence. The NBE's forex commission rate has also been lowered by one percentage point to 1.5 percent.