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Chinese Foreign Minister Wang Yi is expected to end his tour of the Philippines next Monday and head to Papua New Guinea and Fiji, continuing his journey in the Asia-Pacific region. While on the other side of the world, the United States is ramping up efforts on sanctions against the Iranian government. The world's number one economy is pressing its allies to end all imports of Iranian oil within seven days. How will the oil market react? Will oil price shoot "uplike a rocket"? We will see.
US to curb Iran's vital oil exports
November 4 marks the day when the US's decision to curb Iran's vital oil exports actually comes into force. This comes as part of US's economic embargoes against the Middle Eastern country, after its withdrawal from the Iran nuclear deal, which lifted sanctions in return for limits on the country's nuclear program.
In August, the US reintroduced sanctions against Iran's currency, metals and automotive sectors. Iranian President Hassan Rouhani said on Saturday that the US was “isolated” among its traditional allies. “A year ago no one would have believed… that Europe would stand with Iran and against America,” he said.
Progress on murdered Saudi journalist
Just hours after Turkish PresidentRecep Tayyip Erdogan demanded Saudi Arabia to reveal the location of murdered journalist Jamal Khashoggi's body and hand over the suspects, the Saudi government responded that they will prosecute the suspects themselves.
Khashoggi, an outspoken critic of Saudi's de facto ruler Crown Prince Mohammed bin Salman, was killed in the Saudi consulate in Istanbul, capital of Turkey, three weeks ago.
The Saudi government initially denied all knowledge of the journalist's whereabouts, but the Saudi public prosecutor now says Khashoggi was killed in a premeditated murder.
Although Turkey and Saudi Arabia are not known to have an extradition treaty, Erdogan has insisted that those responsible should fact trial in Turkey. "If the Saudis can't make the suspects talk, then Turkey will," he said.
Modieyes closer trade ties with Japan
Indian Prime Minister Narendra Modi will embark on a two-day visit to Japan with the hope of boosting trade and investment ties and bilateral cooperation in new areas, according to an official statement from the Indian government.
Indo-Pacific issues top the agenda, and the regional security situation and defense cooperation will also be key focuses.
Prior to Modi's Japan tour, Indian Foreign Secretary Vijay Gokhale hailed the improvements in China-Japan relations, adding that the warming friendship will not “impact the India-Japan relationship.”
Day-by-day
Monday : Leaders from Asia will be busy visiting each other. Chinese Foreign MinisterWang Yiwill end his visit ofThePhilippineswith ameeting with the country's newly appointed foreign secretary, Teodoro Locsin Jr.Modi is expected to fly to Japanand meet with the east Asian country's prime minister, Shinzo Abe, while Imran Khan , prime minister of its neighboring country Pakistan, will be on a visit to Malaysia .
Tuesday : Ethiopian Prime MinisterAbiy Ahmedis expected to land in Germany and hold talks with the country's Chancellor Angela Merkel. Italian Prime MinisterGiuseppe Contewill pay an official visit to India.
Wednesday : Moldovan PresidentIgor Dodonwill embark on a two-day visit in Russia and will speak to President Vladimir Putin.
Thursday : Cuban presidentMiguel Diaz-Canelwill also pay a visit to Russia.
Saturday : Just days after his Malaysia tour, Pakistani Prime MinisterImran Khan will fly to Chinaand meet with Chinese President Xi Jinping.
Sunday : US's decision to curb Iran's vital oil exports is set to come into force.
(CGTN)
