David Cameron warns of ‘danger and instability’ in the world as he defends UK strikes on Houthi targets

Published

1 year ago

January 14, 2024

admin

Not taking military action against the Houthis would have led to “more attacks” in the Red Sea, according to Foreign Secretary Lord Cameron.

The British military took part in a joint operation in Yemen alongside the US this week in retaliation for the targeting of international trade in the key shipping lane – followed up by a fresh attack by the US on Friday night.

Lord Cameron said the action by the Houthis was “effectively terrorist attacks”, adding: “If you don’t act against the Houthis in the Red Sea, you are going to see more attacks.”

And he hinted the government would be willing to join in further military action, telling Sky News’ Sunday Morning with Trevor Philips the UK had “demonstrated that we are prepared to follow words and warning with action”.

Politics live: ‘Nonsense’ for South Africa to say Israel committing genocide

Lord Cameron also warned: “It is hard to think of a time when there has been so much danger and insecurity and instability in the world.

“The lights are absolutely flashing red on the global dashboard and what we need at that time is strong leadership and a plan and that is what we have with the prime minister and the team in place.”

The foreign secretary further defended the initial response to the attacks on ships in the Red Sea, saying there had been 26 incidents since November – including an attack on HMS Diamond, that saw over 20 drones and missiles used by the Houthis.

Asked about concerns that the military operation could lead to an escalation in tensions in the Middle East, the foreign secretary said: “What are the consequences of not acting?

“We have endured almost two months of continual attacks and we gave warning after warning and frankly, ultimately that wasn’t working and the number of attacks was going up, the severity of those attacks was going up.

“So not acting is also a policy, and it was a policy that wasn’t working.”

A spokesman for the Yemeni armed forces in the Houthi-controlled north of the country said in a televised statement that the bombardment “will not go unanswered and unpunished” – saying it would not deter their support for Palestinians amid Israel’s war in Gaza.

Lord Cameron denied any link between the Red Sea attacks, saying the action was “completely separate”.

However, also speaking to Trevor Philips, the former head of MI6, Sir Richard Dearlove, said the strikes had “inevitable” connections to the Israel-Hamas conflict.

“If one’s being rational in analysis, I agree with David Cameron that freedom of navigation is a different issue from Gaza, but the Arab street doesn’t think that,” he said.

“Inevitably there’s a connection. They’re going to have an impact across the whole area.”

Cameron may need to keep unintended consequences in mind

Rob Powell

Political correspondent

@robpowellnews

If there’s a foreign policy mantra to be extracted from David Cameron’s time as prime minister, it is likely around the cost of doing nothing.

As he wrote in his memoir about the 2011 intervention in Libya to stop a massacre in Benghazi, “to do nothing in these circumstances was not a neutral act – it was to facilitate murder”.

Two years after the Libya strikes and Cameron made a similar argument to persuade MPs to back bombing in Syria. It didn’t work.

He was defeated in a Commons vote and ruled out any intervention.

The now Lord Cameron says he still believes that was a mistake, but denies he is “over-correcting” by taking a firm line against the Houthis.

It is worth looking at how events in Libya and Syria ultimately played out though.

After initial claims of a new era of freedom, Libya eventually descended into violence, with the UK intervention criticised as ill-informed and lacking in strategy.

In Syria, President Assad remains in power, while Russian involvement there has increased Moscow’s influence in the region.

Two countries. Two different approaches. One similarly undesirable outcome for the UK.

A related danger hangs over military involvement against the Houthis. Set against the wider turbulence in the Middle East, any direct Western involvement must present a risk of triggering uncontrolled escalation.

Far from the cost of doing nothing, it may be the rule of unintended consequences that the foreign secretary should keep in mind.

The government has got the support of Labour in the action, with shadow health secretary Wes Streeting telling Sky News it was an “open and shut case”.

He also said his party understood the need to act “swiftly and decisively” without recalling parliament to debate the issue.

“These strikes were targeted and focussed and absolutely necessary in Britain’s self-defence and national interest,” Mr Streeting told Trevor Philips.

But the Liberal Democrats have attacked the government for “bypassing” parliament, and called for a retrospective vote on the action in the Commons when the prime minister makes a statement on Monday.

The party’s foreign affairs spokesperson, Layla Moran, said: “We remain very concerned about the Houthi’s attacks.

“But that makes it all the more important to ensure that MPs are not silenced on the important issue of military action.”

Politics

Government claims car interventions will save £500 a year – but only if you hit a pothole

Published

2 hours ago

April 16, 2025

admin

Government claims car interventions will save £500 a year - but only if you hit a pothole

Hitting potholes is “all too common”, a minister has insisted amid scrutiny of the government’s claim that new road measures will save drivers £500 a year.

Lillian Greenwood told Sky News Breakfast with Anna Jones that people face “eyewatering” costs if a pothole causes more damage to their car than a puncture, with the average repair job setting them back by £460, according to the RAC.

Politics Live: UK in ‘discussions’ with France over migrant returns deal

This, along with the continued freeze on fuel duty, will save drivers over £500 a year, the government has said, claiming its interventions are easing the cost-of-living crisis for drivers.

It was put to Ms Greenwood that the savings only apply if you hit a pothole in the first place.

Asked if she thinks it’s a common occurrence, she said: “Unfortunately, it’s all too common. And because we’ve had more than 10 years of the Conservatives under investing in our road network, that’s left it absolutely cratered with potholes.”

She said potholes are “probably the biggest issue” when she doorsteps constituents, adding: “They’re really angry about the state of their local roads.

“Far too many people are hitting a pothole and finding they’re having to fork out to get their car fixed.”

Earlier this year, an annual industry report estimated that 17% of the local road network in England and Wales are in poor condition.

It predicted that the one-time catch-up cost to clear the backlog of maintenance issues would cost £16.81bn and take 12 years to complete.

Chancellor Rachel Reeves’s autumn budget contained a £1.6bn investment to maintain roads and fix potholes, which it said was an increase of £500m on the 2024-25 budget.

Local authorities will get the first tranche of that money this month.

It comes ahead of the local elections in May, when support for drivers could become a dividing line.

It was put to Ms Greenwood that while trumpeting its motorist-friendly credentials, Labour has also introduced a £1.7bn car tax raid and backed more 20mph low tariff neighbourhoods.

She said the government has left decisions on Low Traffic Neighbourhoods to local authorities and many people “want to see drivers going slower”.

The government’s announcement on savings today came alongside a pledge to remove 1,000 miles of roadworks over the Easter weekend in a bid to cut journey times.

The works will be reinstated after Easter Monday.

However, bank holiday engineering works on the railway lines will not be halted, meaning there will be disruption for people who don’t have a car.

No trains are running from London Euston, affecting most of the Avanti West Coast line.

Politics

China selling seized crypto to top up coffers as economy slows: Report

Published

5 hours ago

April 16, 2025

admin

China selling seized crypto to top up coffers as economy slows: Report

Local governments in China are reportedly seeking ways to offload seized crypto while facing challenges due to the country’s ban on crypto trading and exchanges.

The lack of rules around how authorities should handle seized crypto has spawned “inconsistent and opaque approaches” that some fear could foster corruption, lawyers told Reuters for an April 16 report.

Chinese local governments are using private companies to sell seized cryptocurrencies in offshore markets in exchange for cash to replenish public coffers, Reuters reported, citing transaction and court documents.

The local governments reportedly held approximately 15,000 Bitcoin (BTC) worth $1.4 billion at the end of 2023, and the sales have been a significant source of income.

China holds an estimated 194,000 BTC worth approximately $16 billion and is the second largest nation Bitcoin holder behind the US, according to Bitbo.

Zhongnan University of Economics and Law professor Chen Shi told Reuters that these sales are a “makeshift solution that, strictly speaking, is not fully in line with China’s current ban on crypto trading.”

The issue has been exacerbated by a rise in crypto-related crime in China, ranging from online fraud to money laundering to illegal gambling. Additionally, the state sued more than 3,000 people involved in crypto-related money laundering in 2024.

China crypto reserve floated as solution

Shenzhen-based lawyer Guo Zhihao opined that the central bank is better positioned to deal with seized digital assets and should either sell them overseas or build a crypto reserve.

Ru Haiyang, co-CEO at Hong Kong crypto exchange HashKey, echoed the suggestion saying that China may want to keep forfeited Bitcoin as a strategic reserve as US President Donald Trump is doing.

Creating a crypto sovereign fund in Hong Kong, where crypto trading is legal, has also been proposed.

This issue has gained attention amid rising US-China trade tensions and Trump’s plans to regulate stablecoins and foster growth and innovation in the crypto industry.

Several industry observers have suggested that China’s tariff response could result in a devaluation of the local currency, which may result in a flight to crypto.

Magazine: Illegal arcade disguised as … a fake Bitcoin mine? Soldier scams in China: Asia Express

Politics

3iQ’s Canadian Solana ETF selects Figment as staking provider

Published

13 hours ago

April 15, 2025

admin

3iQ’s Canadian Solana ETF selects Figment as staking provider

Blockchain infrastructure provider Figment has been selected as the staking provider for 3iQ’s newly approved Solana exchange-traded fund (ETF), underscoring Canada’s continued efforts toward adoption of digital asset financial products.

Figment will enable institutional staking for the 3iQ Solana (SOL) Staking ETF, which launches on the Toronto Stock Exchange on April 16 under the ticker SOLQ, the companies said in a statement. In addition to 3iQ, Figment provides staking infrastructure solutions to more than 700 clients.

The Ontario Securities Commission (OSC), a provincial regulator, green-lighted 3iQ’s SOL fund on April 14. The approval was also extended to other fund managers seeking to offer SOL ETFs, including Purpose, Evolve and CI.

As Bloomberg ETF analyst Eric Balchunas reported at the time, the funds are permitted to stake a portion of their SOL holdings through TD Bank, Canada’s second-largest financial institution by assets.

3iQ estimates that its SOL fund will provide yields of between 6% and 8%, according to its website.

3iQ leads Canadian crypto ETFs as US regulators drag their feet

As US regulators continue to consider various crypto-related fund offerings, Canada has been leading the curve in adoption going back to 2021. That was the year that 3iQ debuted its spot Bitcoin (BTC) ETF, which crossed $1 billion in net assets almost immediately.

It would take nearly three more years before spot Bitcoin ETFs were approved in the United States. Like their Canadian counterparts, the US ETFs saw overwhelming success in their first year, generating more than $38 billion in net inflows.

In October 2023, 3iQ launched an ETF tied to Ether (ETH), giving investors direct access to the smart contract platform. Unlike the Ether ETFs that US regulators approved the following year, 3iQ’s fund offers staking rewards.

As Cointelegraph recently reported, US regulators may be on the cusp of approving staking rewards after they authorized exchanges to list options contracts tied to ETH.