China’s central bank extended hundreds of billions of yuan in emergency loans to financial firms and ordered some of the country’s biggest lenders to extend credit as well, as it moved to ease a liquidity crunch and continuing debt sell-off. Source The Australian
Russia’s sophisticated S-400 anti-ballistic missile defense systems will be delivered to Turkey in 2019, state arms exporter Rosoboronexport has announced, amid the latter’s feud with NATO allies over the deployment of these multibillion non-NATO systems on its soils, which have raised concern over the security of allied weaponry and radar systems. Source Hurriyet Daily News
The German government said Tuesday it wanted a new alternative pipelines network constructed to transport Caspian natural gas supplies via Turkey to Europe on Tuesday. “We have a significant interest in further developing the South corridor,” (as opposed to the Norther corridor for gas deliveries between Russia and Europe, note), a government spokesperson told press ahead of an upcoming visit of German Chancellor Angela Merkel to the Caucasus republics of Azerbaijan, Georgia and Armenia. Source Xinhuanet
China is coming to Turkey’s aid during its economic crisis with $3.6 billion in funding for infrastructure projects, leveraging Ankara’s conflict with Washington to expand its Belt and Road Initiative in the key country that links Asia with Europe. Turkish President Recep Tayyip Erdogan said Aug. 11 that his country was preparing to trade through national currencies with partners like China, bypassing the U.S. dollar. Source Asian Review
