Tag Archives: guarantees

China seeks South Korean security guarantees after warning shots fired at ship

BEIJING China mentioned on Wednesday it had asked South Korea to make certain the safety of Chinese ships soon after South Korea’s navy fired warning shots at a Chinese vessel which crossed into waters disputed by North and South Korea.

The South Korean navy told Yonhap news agency it had fired 10 warning shots at a Chinese boat which it stated crossed the Northern Limit Line – a disputed inter-Korean maritime border on the west coast.

The ship was initially believed to be North Korean, but was later identified as Chinese, according to Yonhap.

“We are concerned about the relevant situation,” Chinese Foreign Ministry spokeswoman Hua Chunying told a daily news briefing.

The Chinese embassy in South Korea has asked for a clarification of what happened, she mentioned, adding that it had not heard of any harm or injuries.

“We will continue to pay close interest to how the scenario develops and preserve in communication with South Korea, asking they make certain the safety of Chinese personnel and ships,” Hua stated, without giving other specifics.

The Northern Limit Ling is a disputed border exactly where a number of artillery and naval clashes have occurred in recent years.

Final year, a Chinese fisherman was killed in a South Korean coastguard operation to apprehend his vessel which was operating illegally off South Korea’s west coast.

South Korea’s coastguard regularly chases Chinese fishing boats out of its western seas and violence does occasionally take place.

A South Korean coastguard officer was stabbed to death by a Chinese fisherman in 2011 and the following year a Chinese fisherman died from injuries in a confrontation with the coastguard. That led to a Chinese government complaint.

(Reporting by Ben Blanchard Editing by Nick Macfie)

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Russia says U.S. refused guarantees for Ukraine’s liabilities

MOSCOW Russia has received an official refusal from the U.S. government to give guarantees for Ukraine’s liabilities, Russian news agencies reported on Saturday, citing Russia’s Finance Ministry.

Russia and Ukraine are at loggerheads over a $ 3 billion Ukrainian Eurobond held by Russia and maturing on Dec. 20.

Russia has presented to restructure the debt in equal installments over the next 3 years if the West supplies guarantees. But Ukraine has included it amongst the sovereign and sovereign-guaranteed bonds to be restructured in a deal with a group of its largest creditors.

“This week we received an official refusal from the U.S. government to give guarantees on Ukraine’s liabilities. In this regard, there is practically nothing left but for us to file a legal case against Ukraine if the debtor does not fulfill its liabilities totally on Dec. 20,” RIA news agency cited the Finance Ministry as saying in a statement.

The ministry added that Russia had offered Ukraine better terms than these the International Monetary Fund had asked for.

Ukraine is restructuring its debts in order to plug a $ 15 billion funding gap below an IMF-led $ 40 billion bailout system.

The Eurobond is particularly contentious as it was issued by the government of former president Viktor Yanukovich in late 2013 as public protests took off against his swing away from association with the European Union towards deeper ties with Russia.

Unrest and bloodshed ultimately forced Yanukovich to flee.

(Reporting by Alexander Winning Editing by Toby Chopra)

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