分类: politics

  • Jimmy Lai severely sentenced despite Trump calling for his release

    Jimmy Lai severely sentenced despite Trump calling for his release

    Hong Kong’s High Court has delivered a landmark 20-year prison sentence to media entrepreneur and pro-democracy activist Jimmy Lai Chee-ying, marking one of the most significant applications of the territory’s National Security Law since its implementation in 2020. The 78-year-old founder of the defunct Apple Daily was convicted on charges of conspiring with foreign forces and publishing seditious materials, primarily stemming from his 2019 appeals to Washington for support of Hong Kong protesters and pressure on Beijing during trade negotiations.

    The sentencing decision, handed down by three judges on Monday, concludes a lengthy legal process that began with Lai’s initial detention in December 2020. In addition to Lai’s substantial term, six former Apple Daily executives and two activists received prison sentences ranging from six years and three months to ten years for related national security violations.

    The case has drawn significant international attention, with former U.S. President Donald Trump reportedly raising Lai’s situation directly with Chinese President Xi Jinping during an October meeting in South Korea. Trump suggested that Lai’s release could potentially stabilize Sino-American relations and improve China’s global standing. The former president has previously vowed to secure Lai’s freedom if re-elected.

    Chinese authorities have maintained a firm stance regarding the judicial proceedings. Foreign Ministry spokesperson Lin Jian emphasized that Lai’s case represents an internal matter for Hong Kong, describing the activist as “the principal mastermind and perpetrator behind the series of riots that shook Hong Kong.” Lin further urged foreign nations to respect China’s sovereignty and refrain from interfering in Hong Kong’s judicial independence.

    The prosecution built its case around Lai’s alleged coordination with foreign officials, including meetings with former U.S. Secretary of State Mike Pompeo, and his newspaper’s coverage of the 2019 protests. Controversially, pro-Beijing media outlets reported that Lai had encouraged the United States to deploy “nuclear weapons” against China, though contextual evidence indicates the businessman was employing metaphorical language regarding America’s “moral authority” in international relations.

    Complicating the diplomatic dimension, British officials have explored potential transfer arrangements under the still-active Transfer of Sentenced Persons Agreement between the UK and Hong Kong. However, Hong Kong’s Security Bureau has clarified that such mechanisms do not apply to Chinese nationals, noting that China does not recognize dual citizenship despite Lai’s British naturalization in 1994.

    The sentencing occurs against a backdrop of ongoing geopolitical tensions, with Trump scheduled to meet Xi in Beijing this April and critical midterm elections approaching in the United States. The outcome of these diplomatic engagements may influence the future of Sino-American relations, including the expiration of a current trade truce between the nations in November.

  • Survey says democracies’ anti-corruption efforts are slipping and raises concern about the US

    Survey says democracies’ anti-corruption efforts are slipping and raises concern about the US

    A comprehensive global assessment of public-sector corruption reveals troubling regression among established democracies, with the United States exhibiting particularly concerning trends. Transparency International’s 2025 Corruption Perceptions Index, released Tuesday, demonstrates a widespread failure in governance accountability worldwide.

    The report positions Denmark at the pinnacle with 89 out of 100 points, closely followed by Finland and Singapore. Conversely, South Sudan and Somalia languish at the bottom with merely 9 points each, trailed by Venezuela. Most alarmingly, 122 of the 182 surveyed nations scored below 50 points, while the global average dipped to 42—the lowest recorded in over a decade.

    Democratic nations show disturbing deterioration, with even high-performing countries like New Zealand (down to 81 points) and Sweden (static at 80) experiencing declines. The United States recorded its worst performance since the current methodology began in 2012, dropping to 64 points and 29th place globally. Canada (75), United Kingdom (70), and France (66) likewise demonstrated concerning trajectories.

    The report identifies multiple factors eroding America’s anti-corruption standing, including the weaponization of public office against independent voices, transactional politics, compromised prosecutorial independence, and judicial interference. Particularly damaging was the Trump administration’s decision to freeze enforcement of the Foreign Corrupt Practices Act—a move characterized as signaling acceptance of bribery practices.

    Additionally, U.S. aid reductions to overseas civil society organizations have undermined global anti-corruption efforts, emboldening authoritarian leaders to restrict NGOs and journalists.

    Regional variations reveal significant developments: Hungary (40), Turkey (31), and Nicaragua (14) represent the most dramatic decliners since 2012. Conversely, Estonia (76), Seychelles (68), and South Korea (63) demonstrate notable improvement. Russia remains entrenched near the bottom with 22 points, reflecting its centralized, opaque governance. Ukraine, despite ongoing conflict, improved to 36 points through strengthened anti-corruption institutions and investigations, though concerns persist regarding defense fund management.

  • Saudi Arabia in talks with US company for AI-powered drones, sources say

    Saudi Arabia in talks with US company for AI-powered drones, sources say

    Saudi Arabia is currently engaged in advanced negotiations with American artificial intelligence defense contractor Shield AI for the potential procurement of advanced drone systems, according to sources briefed on the matter. The discussions emerge as the Trump administration actively promotes arms sales throughout the resource-abundant Gulf region.

    The San Diego-based technology startup specializes in AI-powered autonomous systems, particularly its innovative ‘hivemind’ software that enables drone operations without GPS, human pilots, or external communications. The primary model under consideration, the V-Bat, is designed for extended intelligence, surveillance, and reconnaissance missions, capable of launching from naval vessels and maintaining flight for up to thirteen hours.

    This potential acquisition aligns with Saudi Arabia’s intensified security focus across multiple regional hotspots, including Yemen and Sudan, and particularly in the strategically vital Red Sea and Arabian Sea corridors. Recent regional tensions were highlighted in December when Saudi forces targeted an Emirati weapons shipment at Yemen’s Mukalla port.

    The kingdom has simultaneously pursued broader security partnerships, finalizing a military cooperation agreement with Somalia and exploring enhanced security ties with Eritrea, facilitated by Egyptian support.

    While the V-Bat system has already demonstrated operational capability in Ukraine’s conflict zones, Shield AI’s more advanced X-Bat model represents a technological leap. This vertical take-off and landing capable fighter drone, unveiled in October 2025 but not yet operational, offers compact deployment advantages with three units occupying the space of a single traditional fighter aircraft.

    The prospective deal, though modest compared to Saudi Arabia’s potential acquisition of F-35 warplanes, would constitute a significant achievement for the startup, whose investors include prominent entities like Palantir, Airbus, and venture capitalist Steven Cohen.

    This development follows the substantial acceleration of US-Saudi military sales ties during Crown Prince Mohammed bin Salman’s November visit to the White House, which established a defense partnership framework to fast-track arms transfers. Recent briefings to US lawmakers have addressed concerns regarding how such sales might affect Israel’s qualitative military edge in the region.

    The negotiations coincide with Saudi Arabia’s renewed emphasis on defense co-production and content localization, as articulated by Saudi defense analyst Hesham Alghannam, reflecting the kingdom’s strategic shift toward technological sovereignty in its military capabilities.

  • In their words: Bangladeshis talk about the election that could redefine the nation’s future

    In their words: Bangladeshis talk about the election that could redefine the nation’s future

    Bangladesh stands at a critical democratic crossroads as the nation prepares for its most consequential election on Thursday, marking the culmination of an 18-month transitional period. This electoral process follows the youth-led uprising that toppled former Prime Minister Sheikh Hasina’s 15-year administration, subsequently establishing an interim government headed by Nobel laureate Muhammad Yunus.

    The voting coincides with a constitutional referendum addressing comprehensive political reforms, collectively representing a fundamental examination of democratic resilience in this South Asian nation. While many citizens anticipate that restored elections will reestablish legal order, safeguard civil liberties, and institute accountable governance, significant apprehensions persist regarding potential political instability, religious minority marginalization, and the escalating influence of Islamist factions within historically secular Bangladesh.

    Central to voter demands remains the insistence on impartial elections and robust legal frameworks. Yunus’s commitment to conducting equitable voting procedures addresses widespread skepticism toward previous electoral processes under Hasina’s regime, which many perceived as systematically manipulated. These grievances, compounded by severe suppression of opposition voices, ultimately catalyzed the student-led revolution that forced Hasina into Indian exile.

    Arefin Labib, referencing the 2024 uprising that witnessed lethal security force crackdowns resulting in hundreds casualties, articulated a widespread sentiment: “I don’t want any more bad incidents in Bangladesh.” Like numerous compatriots, Labib envisions that democratically elected leadership could stabilize the nation and steer it toward prosperity.

    This aspiration resonates particularly amid deteriorating conditions following Hasina’s ouster, characterized by escalating political violence, targeted attacks against Hindu minorities, and pervasive breakdowns in public order. Sixty-two-year-old street vendor Zainul Abedeen echoed concerns shared across socioeconomic strata: “I want the government to prevent riots, killings, and any other trouble.”

    Although acknowledging the interim government’s success in stabilizing Bangladesh’s free-falling economy, critics highlight its failure to ensure security, protect human rights, and safeguard religious minorities. Dhaka resident Rajit Hasan observed that despite genuine efforts, the profoundly fragmented political landscape prevented meaningful reform implementation.

    Hasan emphasized the necessity for strengthened judicial accessibility, authentic civil liberty protections, religious freedom, and accountable leadership embedded within independent institutions. “We want democracy. We want our rights. We want the rule of law,” he asserted, capturing the collective yearning for political cultures that respect rather than suppress dissent.

    Simultaneously, women express deepening concerns regarding political representation. Despite Bangladesh’s distinguished history of female leadership under Khaleda Zia and Sheikh Hasina, current electoral dynamics threaten this legacy. With Hasina’s party disqualified from participation and reduced female candidacy despite women’s instrumental role in the revolution, gender inclusivity appears increasingly compromised.

    Economics student Wasima Binte Hussain, who participated in the uprising, expressed disappointment that anticipated opportunities for female leadership and gender-focused policymaking failed to materialize during the transition. Her experience reflects broader frustrations regarding the persistent scarcity of women in decision-making roles.

    Compounding these anxieties, the resurgence of Jamaat-e-Islami—an Islamist group banned under Hasina but regaining influence since her departure—has intensified fears among women and religious minorities. The party’s advocacy for restricting women’s activities based on traditional gender roles has alarmed many, despite its assurances of moderate governance if elected.

    For 22-year-old Sayma Nowshin Suha, the prospect of Islamist ascendancy represents profound trepidation. “In Bangladesh, conservatism is the scariest thing,” she confessed, envisioning a nation where citizens may pursue self-determined lives without fear or constraint.

  • Oil exports have been a cash cow for Russia. But revenues are dwindling, thanks to sanctions

    Oil exports have been a cash cow for Russia. But revenues are dwindling, thanks to sanctions

    As the fourth anniversary of Russia’s full-scale invasion of Ukraine approaches, Western sanctions have successfully constricted the nation’s vital energy revenue streams to their lowest levels in years. January witnessed a dramatic plunge in Russian oil and gas tax revenues to 393 billion rubles ($5.1 billion), a stark decline from 587 billion rubles in December and the lowest figure recorded since the COVID-19 pandemic, according to Janis Kluge of the German Institute for International and Security Affairs.

    This financial pressure stems from a coordinated multi-front offensive by Western powers. The Trump administration implemented stringent sanctions against Russian energy giants Rosneft and Lukoil in November, threatening to cut off any entity conducting business with them from the U.S. banking system. Concurrently, the European Union enacted a comprehensive ban on refined Russian petroleum products effective January 21, preventing third-party processing and export to European markets. EU Commission President Ursula von der Leyen has further proposed a complete prohibition on shipping services for Russian oil, emphasizing that economic pressure remains essential to compel Moscow toward genuine peace negotiations.

    The effectiveness of these measures extends beyond direct sanctions. The Trump administration’s tariff negotiations with India have yielded commitments to reduce Russian crude imports, resulting in a significant drop from 2 million barrels per day in October to 1.3 million by December. Meanwhile, international efforts have targeted Russia’s ‘shadow fleet’ of sanction-evading tankers, with approximately 640 vessels now facing sanctions across the U.S., U.K., and EU.

    These actions have created a cascading economic impact: Russian Urals crude now trades at a substantial discount of approximately $25 per barrel compared to international benchmarks, reducing tax revenues directly tied to oil prices. The resulting financial shortfall has forced the Kremlin to implement austerity measures including increased value-added taxes, higher levies on imported goods, and substantial borrowing from domestic banks. While these measures maintain short-term budget stability, they exacerbate existing economic challenges including slowing growth (projected at 0.6-0.9% for 2025), persistent inflation at 5.6%, and severe labor shortages.

    Analysts suggest that while these economic pressures are unlikely to force immediate peace negotiations, they may influence Russia’s military strategy. As S&P Global Energy analyst Mark Esposito notes, the sanctions package creates a ‘domino effect’ that impacts both crude flows and refined products. Economic experts predict that sustained financial strain could lead Russia to reduce military operational intensity and focus on specific frontlines within the next six to twelve months.

  • Wes Streeting privately said Israel committing war crimes, backed sanctions on ‘rogue state’

    Wes Streeting privately said Israel committing war crimes, backed sanctions on ‘rogue state’

    Private text messages from UK Health Secretary Wes Streeting, disclosed in July 2025, reveal a significant divergence from the official government stance on Israel. In correspondence with former British ambassador to the US Peter Mandelson, Streeting asserted that Israel was “committing war crimes before our eyes” and advocated for comprehensive sanctions against the state.

    The messages, made public on Monday, were initially released by Streeting to counter speculation regarding his association with Mandelson, who recently resigned from the Labour Party following revelations about his connections to convicted sex offender Jeffrey Epstein.

    These private communications present considerable embarrassment for Prime Minister Keir Starmer’s administration, which has consistently declined to formally accuse Israel of war crimes. Streeting, widely regarded as a potential successor to Starmer, sought Mandelson’s perspective on British recognition of Palestinian statehood—a policy eventually implemented in September 2025.

    Streeting justified his position as “morally and politically right,” citing meetings with medical personnel who described “chilling and distressing scenes of calculated brutality against women and children.” He characterized Israeli government rhetoric as promoting “ethnic cleansing” and endorsed treating Israel as a “rogue state” that should face sanctions as “pariahs.”

    Despite these private assertions, the Labour government has maintained military collaboration with Israel throughout the Gaza conflict, implementing only limited measures including a partial arms embargo and sanctions against far-right ministers Itamar Ben Gvir and Bezalel Smotrich in June 2025.

    The disclosure also reveals Streeting’s political concerns about his electoral vulnerability in Ilford North, where he narrowly defeated British Palestinian candidate Leanne Mohammed in 2024. Analysts interpret the message release as both a strategic move to bolster Streeting’s leadership credentials and increase pressure on Starmer, who faces internal party criticism over his appointment of Mandelson as ambassador.

  • Trump threatens to block opening of US-Canada bridge

    Trump threatens to block opening of US-Canada bridge

    Former President Donald Trump has issued a stark warning that he would prevent the inauguration of the Gordie Howe International Bridge linking the United States and Canada unless Washington receives “full compensation” for perceived historical inequities. The infrastructure project, which spans the Detroit River between Windsor, Ontario and Detroit, Michigan, has become the latest flashpoint in cross-border relations.

    In a social media post on his Truth Social platform, Trump declared the nearly completed bridge would remain closed until Canada demonstrates “Fairness and Respect” toward the United States. He specifically demanded that the U.S. possess “at least one half of this asset,” suggesting incorrect ownership of both sides by Canada.

    The $6.4 billion CAD project, primarily funded by the Canadian government through the Windsor-Detroit Bridge Authority, represents one of the most significant bilateral infrastructure initiatives in recent history. Despite construction commencing in 2018 with anticipated operational status by early 2026, Trump’s intervention introduces substantial uncertainty regarding its timely opening.

    The former president connected his bridge position to broader trade grievances, particularly highlighting Canadian dairy tariffs he deemed “unacceptable” and criticizing a recent trade agreement between Canada and China that he claimed would “eat Canada alive.” In characteristically hyperbolic language, Trump even suggested China would “terminate ALL Ice Hockey being played in Canada” as consequence.

    This stance marks a notable reversal from Trump’s previous administration, where he jointly affirmed with Prime Minister Justin Trudeau the bridge’s importance as a “vital economic link” between the nations. The current threat aligns with concerns raised during his first term by the Moroun family, owners of the competing Ambassador Bridge, who argued the new structure threatened their toll revenue exclusivity.

    Key governmental offices, including Canada’s bridge authority, the Ontario premier’s office, and Detroit mayor’s office, have not yet responded to requests for commentary regarding Trump’s statements. The mechanism through which Trump could actually impede the bridge’s operation remains unclear, though he indicated negotiations would commence immediately.

  • Epstein accomplice Maxwell seeks Trump clemency before testimony

    Epstein accomplice Maxwell seeks Trump clemency before testimony

    In a dramatic congressional deposition on Monday, convicted sex trafficker Ghislaine Maxwell invoked her Fifth Amendment rights while simultaneously proposing a controversial bargain: full testimony in exchange for presidential clemency. The 64-year-old British socialite, currently serving a 20-year sentence for supplying underage girls to Jeffrey Epstein, appeared virtually from her Texas prison facility before the House Oversight Committee.

    Committee Chairman James Comer expressed profound disappointment as Maxwell systematically declined to answer questions regarding her activities with Epstein and potential co-conspirators. ‘We had many questions to ask about the crimes she and Epstein committed,’ Comer told reporters following the closed-door session.

    The proceeding took an unexpected turn when Maxwell’s attorney, David Markus, issued a statement outlining conditions for her cooperation. ‘If this Committee and the American public truly want to hear the unfiltered truth about what happened, there is a straightforward path,’ Markus declared. ‘Ms. Maxwell is prepared to speak fully and honestly if granted clemency by President Trump.’

    Markus further asserted the innocence of both former President Trump and former President Bill Clinton regarding any Epstein-related wrongdoing, claiming Maxwell alone possesses exculpatory explanations for their associations with the convicted sex offender.

    The deposition occurs against the backdrop of recently released Justice Department documents comprising millions of evidentiary items from the Epstein investigation. While officials indicate no new prosecutions are anticipated, the revelations have already triggered resignations and reputational damage among various political and business figures identified in the files.

    Democratic Representative Suhas Subramanyam, who attended the deposition, characterized Maxwell as ‘unrepentant’ and ‘robotic,’ suggesting her silence constituted strategic positioning for a potential Trump pardon.

    The Oversight Committee has concurrently summoned both Clintons to testify publicly about their Epstein connections, a move the Clintons support to avoid partisan manipulation of their testimony. Notably, Trump himself has not been called to testify before the Republican-led committee, despite his documented friendship with Epstein and previous resistance to document disclosure that was ultimately overridden by congressional pressure.

  • Netanyahu heads to Washington to lobby amid ‘very good’ US talks with Iran

    Netanyahu heads to Washington to lobby amid ‘very good’ US talks with Iran

    Israeli Prime Minister Benjamin Netanyahu has accelerated his diplomatic travel schedule to convene with US President Donald Trump in Washington this week, marking their seventh high-level engagement within a twelve-month period. The meeting occurs against a complex backdrop of renewed US-Iran dialogue and escalating regional violence.

    Originally slated to coincide with the February 19th inauguration of Trump’s ‘Board of Peace’ initiative—established following the Gaza ceasefire agreement—Netanyahu’s expedited arrival suggests urgent diplomatic priorities. Expert analysis indicates the Prime Minister’s paramount objective involves persuading the Trump administration to intensify pressure on Iran, potentially including military strikes to precipitate regime change.

    This sense of urgency follows last week’s direct negotiations between US and Iranian officials in Oman, which Trump characterized as ‘very good’ despite previous hostilities. Dr. Guy Ziv, Israeli politics specialist and associate professor at American University, notes that Netanyahu perceives Iranian ambitions as substantially more threatening than Palestinian matters, having previously influenced Trump’s 2018 withdrawal from the Joint Comprehensive Plan of Action (JCPOA).

    The Prime Minister now seeks to expand any potential nuclear agreement to include restrictions on Iranian ballistic missile development, which Israel considers an existential threat. Recent diplomatic engagements have featured unconventional participation, including Iran’s Foreign Minister Abbas Araghchi meeting with US special envoy Steve Witkoff alongside presidential advisor Jared Kushner. Notably, Trump deployed the top US military commander in the Middle East to these talks, signaling continued readiness for military action.

    Trita Parsi of the Quincy Institute observes that Israeli demands for zero uranium enrichment previously sabotaged diplomatic progress, with missile restrictions constituting another potential ‘poison pill’ in negotiations. This occurs alongside devastating military conflicts, including a 12-day war in June that concluded with unprecedented US airstrikes against Iranian nuclear facilities.

    Domestic political considerations similarly influence Netanyahu’s diplomatic maneuvers. With Israeli elections potentially occurring sooner than the scheduled October date, the Prime Minister benefits from visible alignment with the popular US president. Additionally, Netanyahu aims to avoid photographic association with regional adversaries like Turkey’s Erdogan or Qatar’s al-Thani during the upcoming Board of Peace assembly.

    Meanwhile, Gaza continues experiencing severe violence, with 581 Palestinians killed since October’s ceasefire announcement and over 72,000 casualties recorded since Hamas’ initial attacks. Despite Trump’s public optimism regarding peace process progress, reality demonstrates minimal improvement in regional stability.

    Analysts suggest Netanyahu may accept concessions regarding West Bank settlements or Gaza policy if unable to secure stronger anti-Iran commitments. Khaled Elgindy, former Palestinian negotiation adviser, notes the Trump administration predominantly views Palestinians as having ‘no strategic value,’ making territorial compromises likely in exchange for Israeli cooperation. The president’s decision-making process remains unpredictable, often prioritizing donor preferences and personal instincts over established diplomatic frameworks.

  • Trump’s world order hangs over Europe on eve of key defence conference

    Trump’s world order hangs over Europe on eve of key defence conference

    The Munich Security Conference convenes this week under the shadow of profound transatlantic tensions that have escalated dramatically since Vice President JD Vance’s explosive address at last year’s gathering. His condemnation of European migration and free speech policies, coupled with assertions that Europe’s greatest threats emanate from within, left attendees visibly stunned and signaled a fundamental shift in U.S. foreign policy approach.

    The subsequent year has witnessed the Trump administration systematically overturn long-standing international norms through punitive tariffs against allies and adversaries alike, an audacious military incursion into Venezuela, and conspicuously imbalanced peace efforts in Ukraine that disproportionately favor Moscow. Most remarkably, the administration has floated the concept of Canada becoming the “51st state”—rhetoric that would have been unthinkable in previous administrations.

    Central to the current crisis has been the Greenland territorial dispute, wherein President Trump repeatedly expressed his “need to own” the autonomous Danish territory, initially refusing to rule out military action. This stance prompted Denmark’s Prime Minister to declare that such hostile acquisition would effectively terminate the NATO alliance that has underpinned European security for 77 years.

    While the immediate Greenland crisis has subsided, it exposes the fragile state of transatlantic relations. The recently published U.S. National Security Strategy explicitly calls for Europe to “stand on its own feet” regarding defense matters, formalizing the administration’s resistance to continuing America’s decades-long subsidization of European security.

    Sir Alex Younger, former head of Britain’s MI6, acknowledges the permanent transformation of the alliance while asserting its continued functionality: “We still benefit enormously from our security and military and intelligence relationship with America.” He concurs with the administration’s position that Europe must assume greater defense responsibility, noting the demographic imbalance that sees “a continent of 500 million [Europe] asking a continent of 300 million [U.S.] to deal with a continent of 140 million [Russia].”

    Beyond defense spending disagreements—where numerous NATO members, including Spain, fail to meet the minimum 2% GDP commitment—significant rifts have emerged regarding trade, migration, and fundamental democratic principles. European leaders remain alarmed by Trump’s relationship with Vladimir Putin and his tendency to blame Ukraine for its own invasion.

    Research director Tobias Bunde identifies a definitive break with post-WW2 strategy, noting the administration’s rejection of three foundational pillars: multilateral institutions, economic integration, and the strategic value of democracy and human rights. The Center for Strategic and International Studies describes the National Security Strategy as “a real, painful, shocking wake-up call for Europe” that reveals “cavernous divergence” between European self-perception and Trump’s vision for the continent.

    The conference occurs as Russia’s full-scale invasion of Ukraine approaches its fifth year, raising the paramount question: Does NATO’s Article 5 collective defense guarantee remain credible? The “Narva Test”—hypothetical Russian aggression against the majority Russian-speaking Estonian border town—now represents the ultimate measure of alliance integrity. Similar concerns apply to the Suwałki Gap and even Norway’s Svalbard archipelago, where Russia maintains a settlement.

    With President Trump’s demonstrated territorial ambitions toward NATO ally Denmark’s Greenland, no certainty exists regarding U.S. response to Russian aggression against NATO members. This uncertainty creates potentially dangerous miscalculation risks during active European warfare. This week’s conference may provide clarity regarding the alliance’s future trajectory, though the answers may prove uncomfortable for European participants.