FT : Russian gas set to stop flowing through Ukraine

Xi Jinping signals growth is ‘top priority’ in speech acknowledging China’s strains
President uses new year address to stress support for country’s vulnerable people and reiterate Taiwan stance

Chinese President Xi Jinping has stressed support for the country’s vulnerable elderly and youth in a new year address that acknowledged the strains on some of the 1.4bn-strong population.

Xi’s speech comes after his economic planners have for much of the past four years struggled to restore consumer confidence or address rising youth unemployment and slow wage growth.

In the televised speech on Tuesday evening the 71-year-old leader, speaking in front of a large motif of the Great Wall, said that issues of employment, income growth, elderly care, childcare, education and healthcare “are always on my mind”. 

Xi said that a July meeting of the Chinese Communist party leadership had sounded a “clarion call for further comprehensive deepening of reform”.

“Enabling people to live happy lives is the top priority,” he said. “Every household hopes that children can receive good education, the elderly can have good care services, and young people can have more development opportunities.”

China’s economy, which is the world’s second biggest behind the US, recorded growth of 4.8 per cent in the first nine months of the year, trailing Beijing’s official target of about 5 per cent.

Weak sentiment and deflationary pressures follow a series of blows, from the pandemic and a years-long property market slump, to Xi’s reassertion of Communist party control over large swaths of China’s business landscape. 

Xi on Tuesday also repeated a thinly veiled warning over international support for Taiwan. China claims sovereignty over Taiwan and has not ruled out using force if Taipei refuses unification indefinitely.

“Compatriots on both sides of the Strait are one family. No one can sever our blood ties and kinship, and no one can stop the historical trend of national reunification,” Xi said.

Xi has increasingly steered state support for high-tech manufacturing and industry, lifting investment in electric vehicles, batteries, semiconductors and artificial intelligence, while pursuing China-made production of critical technologies. 

On Tuesday he highlighted China’s progress in technological self-reliance and breakthroughs in areas including computer chips, AI and space exploration. 

A series of policy-easing measures announced by Beijing since September, including some property and stock market support, has been viewed as a sign that the Xi administration is shifting focus to stoking domestic demand. 

Reflecting those changes, the World Bank last week revised its forecast for China’s GDP growth next year upwards by 0.4 percentage points to 4.5 per cent.

However, China has this year been rocked by a series of mass killings and stabbings that some experts have blamed on rising social strains. Fan Weiqiu, a 62-year-old man, was last week sentenced to death after being found guilty of driving his car into a crowd in Zhuhai, southern China, in November, leaving at least 35 people dead, the country’s worst mass killing in a decade.

Ahead of a series of national holidays Beijing has started to urge local governments to expand the delivery of seasonal cash handouts to people facing economic hardship, including unemployed youth. 

Kelvin Lam, an economist at Pantheon Macroeconomics, said while the handouts would not have a significant impact on the broader economy they might shore up social stability and consumption in poorer rural areas. 

China’s economic outlook has been further weakened by strained relations with the US.

Under President Joe Biden the US has restricted China’s access to computer chips, clamped down on Chinese investment into the US and ramped up sanctions on Chinese companies for trading with Russia in the wake of the full-scale invasion of Ukraine.

Earlier on Tuesday Xi told Russian leader Vladimir Putin that “strategic co-ordination” between China and Russia continued to reach higher levels under their leadership, according to a new year message reported by Xinhua, the state news agency.

FT : Russian gas set to stop flowing through Ukraine

Russian gas set to stop flowing through Ukraine
Transit deal due to expire with no follow-up agreement on flows to central Europe

Russian gas flows through Ukraine are set to stop on Wednesday when a transit deal between the two countries expires in the wake of Moscow’s full-scale invasion.

The pipeline was one of the last two routes still carrying Russian gas to Europe nearly three years into the full-scale war. EU countries will lose about 5 per cent of gas imports in the middle of winter.

While traders had long expected flows to stop, the end of the pipeline route through Ukraine will affect Europe’s gas balance at a time when demand for heating is high. Slovakia is the country most affected.

“While one would assume that losing those volumes [is] priced in, a strong upward price response initially isn’t out of the question,” said Aldo Spanjer, senior commodities strategist at BNP Paribas.

The deal to allow Russian gas to pass through Ukraine was agreed at the end of 2019, signed a day before the previous 10-year contract between the national gas companies was set to expire. At the time, the European Commission strongly promoted the deal.

After Russia’s 2022 full-scale invasion of Ukraine, however, the commission encouraged member states to seek alternative supplies as the bloc moved to wean itself off Russian fossil fuel imports. The Moscow-friendly governments of Hungary and Slovakia have resisted that shift and have sought to extend the deal beyond January 1.

The Ukrainian government had telegraphed months in advance that it was unwilling to negotiate an extension to the deal, as it wanted to deprive the Kremlin of its income from gas exports. Ending the flows would result in a $6.5bn loss for Russia, unless it could redirect them, according to the Brussels-based think-tank, Bruegel.

But it would also be a financial blow to Ukraine, which earned about $1bn a year in gas transit fees, though only about a fifth of that was gross profits. Analysts have suggested that Ukraine’s vast gas pipeline infrastructure could face increasing Russian attack, if there was no Russian gas flowing through it.

Slovak Prime Minister Robert Fico visited Moscow on December 22 to discuss the gas transit contract. He blasted Ukraine’s intransigence on the deal, asking whether the country had “the right to damage the economic national interests of an [EU] member state”.

Fico said on Facebook shortly before the deal’s expiry that “other gas transit options than Russian gas were presented to Ukrainian partners, but these were also rejected by the Ukrainian president”. The Slovak prime minister has also threatened to cut off back-up electricity supplies from Slovakia to Ukraine as retaliation.

Hungary’s Prime Minister Viktor Orbán has likewise sought to find a workaround to allow Russian gas imports via Ukraine. His government has also turned to the last remaining pipeline shipping Russian gas via Turkey and to neighbouring Romania to complement supplies.

Austria, which still imported Russian gas throughout 2024, has shifted to alternative sources such as liquid natural gas imports. Its energy company OMV in mid-December terminated its long-term contract with Russia’s Gazprom because of a legal dispute.

The cut-off of gas will also have a significant impact on neighbouring Moldova, which in mid-December introduced a state of emergency in the energy sector because of the uncertainty around Russian gas transit.

The halt to Russian gas flows through Ukraine is likely to increase European demand for pricier LNG, for which Asia is also competing.

EU officials have been adamant that the bloc can live without Russian pipeline supplies, even if it means accepting more expensive shipped gas from elsewhere.

The European Commission said on Tuesday it did not expect disruption. “European gas infrastructure is flexible enough to provide gas of non-Russian origin to central and eastern Europe via alternative routes,” it said. “It has been reinforced with significant new LNG import capacities since 2022.”

The Turkey pipeline still transporting Russian gas to Europe contributes about 5 per cent of the EU’s imports. The US recently imposed sanctions on Gazprombank, the main conduit for Russian energy payments.

But to mitigate the impact of sanctions, Russian President Vladimir Putin in early December dropped a requirement for foreign buyers of Russian gas to pay through the bank. Countries such as Turkey and Hungary also said they have received US exemptions from sanctions.

“The sanctions had previously added an extra layer of uncertainty over the fate of Europe’s remaining Russian gas supply as we enter the new year, helping to keep gas prices volatile,” said Natasha Fielding, head of European gas pricing at Argus Media, a pricing agency. The US waiver meant that “buyers of Russian gas delivered through the Turkish Stream pipeline could breathe a sigh of relief”, she said.

Traders are not ruling out an increase in Russian gas flows into Europe in the future. European companies that are reeling from high gas and energy prices, forcing them to cut back production, would return to buying Russian gas, which was inherently cheaper than LNG, one senior trader said.

“At some stage there will be a peace agreement . . . People will want to end the war, therefore they have to sign a peace agreement. One of the things Russia will get is its ability to resupply” Europe with gas, the trader said.

While European governments may impose restrictions to prevent the continent from once again becoming over-reliant on Russian gas, the trader said, “you would expect to see some Russian gas back in Europe, because fundamentally, geography has not changed”.

TechCrunch : Blue Origin looks to take on SpaceXt shareholder of Rainbow Robotic

Blue Origin looks to take on SpaceX dominance with New Glenn launch days away

Nearly a quarter century after its founding, Jeff Bezos’ Blue Origin is gearing up to launch an orbital rocket for the first time — and finally enter the competitive launch industry that is currently dominated by SpaceX.
Company executives have maintained that they are planning to launch the towering rocket, called New Glenn, before the year is out. However, an air traffic advisory posted last week suggests that Blue Origin may conduct the launch no earlier than January 6.

Regardless, there is little left for the company to do in terms of pre-launch tests or paperwork: Blue Origin received its launch license for New Glenn from federal regulators last week, which authorizes launches for five years. That same day, the company successfully conducted a launch dress rehearsal called a hot fire test. All that’s left on the checklist, Blue Origin CEO David Limp confirmed, is connecting the fairing, which carries the rocket’s payload.
When the rocket does finally launch, seven of the Blue Origin-made BE-4 engines will fire up to generate over 3.8 million pounds of thrust and propel the rocket away from its launch pad at Cape Canaveral, Florida. The 320-foot-tall rocket will carry demonstrator technology for Blue Origin’s Blue Ring spacecraft, an orbital transfer vehicle that’s designed to provide transportation, logistics, and satellite servicing.
New Glenn and Blue Ring are just two of several products Blue Origin has been developing to compete in multiple areas of the space industry. The company is ultimately looking to go up against several competitors — not just up against SpaceX’s Falcon 9, which currently launches the lion’s share of national security and commercial satellite payloads — that are developing lunar landers, private space stations, and more.
Up until this point, Blue Origin has mostly been known for its New Shepard suborbital rocket, which carries space tourists and some cargo up to suborbital space and back in brief flights.
If all goes to plan, New Glenn’s booster will return to Earth and land vertically on a floating barge, to be refurbished and reused up to 25 times. NASA also tapped Blue Origin to launch twin spacecraft to Mars — those satellites were supposed to fly on this inaugural mission, but after the launch was delayed from October, the space agency decided to remanifest them on a later New Glenn launch. Blue Origin also has signed launch deals with the Space Force, Amazon’s Project Kuiper, and other commercial companies.

TechCrunch : Samsung pays $181M to become largest shareholder of Rainbow Robotic

Samsung pays $181M to become largest shareholder of Rainbow Robotics

Samsung Electronics said on Tuesday that it has become the largest shareholder of South Korea-based robotics maker Rainbow Robotics, increasing its stake from 14.7% to 35% for KRW 267 billion (about $181 billion).

The electronics giant, which paid KRW 86.8 billion for the 14.7% stake in 2023, said it is acquiring the stake to bolster its robotics department and speed up development of humanoid robots. Rainbow Robotics will be integrated as a Samsung subsidiary, and the deal is expected to be completed in February 2025.

The company also said it would establish a Future Robotics Office directly reporting to the chief executive officer. The deal also enables Rainbow Robotics to expand to overseas markets by leveraging Samsung’s reach.

Rainbow, founded in 2011 by researchers at the Korea Advanced Institute of Science & Technology (KAIST) Center, has developed dual-arm mobile manipulators and autonomous mobile robots for applications in manufacturing and logistics. It has 86 employees.

The founding member of Rainbow, Dr. Jun-ho Oh, the former largest shareholder of the robotics company before the deal and an honorary professor at KAIST, will stay on board to lead a new effort called the Future Robotics Office at Samsung, and serve as an advisor.

Samsung is only the latest to enter the race to develop humanoid robots that can do more autonomously. Microsoft and OpenAI are planning to use their tech for a humanoid robot, and Tesla earlier this year showed off its own take on robots, Optimus. Nvidia, too, has plans to release a new line of compact computers for humanoid robots, called Jetson Thor, next year.

In 2022, Samsung said that robotics, along with AI, 5G, and automotive electronics, would be a key part of its future initiatives, suggesting that potential acquisitions in these fields may be on the horizon.

WSJ : Hong Kong Sees Flurry of Year-End Listing Plans

Hong Kong Sees Flurry of Year-End Listing Plans
The offerings come as the appetite for new listings in the city grows

Chinese companies ranging from a toy maker and a chemical material supplier to a simulation specialist commenced public offerings in Hong Kong, part of a flurry of end-year activity with investor demand for listings picking up in the Asian financial hub.

Chinese toy maker Bloks Group on Tuesday said it will market shares at a range of 55.65 Hong Kong dollars to HK$60.35 to raise net proceeds of about HK$1.29 billion, equivalent to US$166.1 million, ahead of a Jan. 10 debut, while fine chemical materials supplier Anhui Conch Material Technology set a price range of HK$3.00 to HK$3.30 for its Jan. 9 listing, seeking net proceeds of around HK$417.6 million.

Beijing Saimo Technology, which focuses on simulation technology, said it will market shares at between HK$12.00 and HK$18.00, raising net proceeds of about HK$427.9 million ahead of a Jan. 15 debut. Recreational vehicle maker New Gonow, targeting a Jan. 13 debut, set a HK$1.24-HK$1.64 target range to raise net proceeds of around HK$292.6 million. And Chinese environmental solution provider ContiOcean Environment Tech said it will market shares at HK$31.80-HK$39.80, raising net proceeds of around HK$312 million and beginning trade on Jan. 9.

Other companies, including health technology platform We Doctor and traditional Chinese medicine specialist Beijing Tong Ren Tang Healthcare Investment filed preliminary listing documents on Tuesday, a day after four other companies did the same.

The offerings come as the appetite for new listings in Hong Kong is growing.

The local exchange’s benchmark index rose 18% in 2024, making it one of Asia’s best-performing markets. Hong Kong is expected to have recorded 69 IPOs raising approximately HK$87.6 billion this year, according to a report by Deloitte earlier this month. That would mark an 89% increase in proceeds from HK$46.3 billion in 2023, it said.

This year’s biggest Hong Kong listing was Chinese appliance maker Midea, whose offering in September raised the equivalent of more than US$4 billion.

>>> What to look at today - 31st of December 2024

Asian shares struggled for direction on the last trading day of 2024, on course for their first quarterly loss this year after a weak showing on Wall Street. Equities fell in Australia and mainland China, with those in Hong Kong flat. US futures were steady, following declines for both the S&P 500 and the Nasdaq 100 overnight.  A gauge of regional stocks looks poised to finish the fourth quarter in the red, snapping a four-quarter winning streak. Despite the latest weakness, it remains on track to gain for a second consecutive year.  The cautious tone Tuesday partly reflects lingering concerns about the stamina of Wall Street’s rally this year that was predominantly driven by the so-called Magnificent Seven cohort of US tech giants. It’s also an indication of uncertainties facing investors in 2025, ranging from President-elect Donald Trump’s protectionist policies to the Federal Reserve’s outlook and the health of China’s economy. The Bloomberg Dollar Spot Index was steady and on course for its best year since 2015 in a rally fueled by Trump’s reelection in November and the Fed’s less dovish policy pivot. An index of US Treasuries looks set to eke out a small gain for the year. Tuesday’s trading is also thin because markets including South Korea, Indonesia, Thailand, and the Philippines are shut for a public holiday. Stock exchanges in Hong Kong and Singapore are open for half day, while Japanese markets are closed through Jan. 6. There’s also no cash trading in Treasuries in Asia. On the economic front, China’s factory activity expanded for a third straight month in December, bolstering expectations the economy will reach its annual growth target after Beijing’s stimulus blitz. In the latest sign of simmering tensions between Beijing and Washington, the US Treasury Department said it was hacked by a Chinese state-sponsored actor through a third-party software service provider. The flip side of a strong dollar has been a selloff in Asian currencies, with a Bloomberg index for the latter on track for a fourth consecutive annual loss. The yen and Korean won have registered the biggest declines in the region this year, with the former under additional pressure in recent weeks amid the country’s political turmoil.  In the latest development in Korea, a local court on Tuesday issued an arrest warrant for embattled President Yoon Suk Yeol, who has been suspended from power over his short-lived martial law declaration, according to investigators. As for commodities, gold was flat and set for one of its biggest annual gains this century. Oil pushed higher on the latest sign of economic recovery in China, the world’s top crude importer. US After Hours Quiet session; ACAD +9.5% jumps on S&P SmallCap 600 inclusion; DAVE -6.8% down on FTC referring its case to DOJ

Nikkei Closed Hang Seng +0.09% CSI -0.95% Shanghai -1.00% Shenzen -1.75%

Eur$ 1.0407 CNH 7.3162 CNY 7.2983 JPY 156.21 GBP 1.2553 CHF 0.9029 RUB 110.50 TRY 35.3360 WTI$ 71.59 +0.70% Gold 2,606 BTC 92,577 ETH 3,340

S&P -0.12% Nasdaq -0.16% EuroStoxx Close FTSE -0.25% Dax Close SMI Closed

Macro :
- LNG Exports Grow at Slowest Pace Since 2015, Kpler Data Shows
- NYC Congestion Pricing Set to Start on Sunday, MTA Says: NBC
- US Natural Gas Surges 16% as Forecasters Warn of Arctic Blast

Keep an eye on :
- ACAD US : Acadia Pharma Shares Gain on Plan to Join S&P SmallCap 600 (1)
- BA/ LN : UK government lobbied Libya for arms deal with BAE Systems
- BA US : KLM Airlines Boeing plane skids off runway in Norway after hydraulic failure forces emergency landing
- CO FP : Casino Group to Sell Property Portfolio to Icade for EU50m
- Chery IPO : Chery Is Said to Add JPMorgan for $1 Billion Hong Kong Listing (Chinese Auto Comp.)
- FNMAE US : Fannie, Freddie Shares Soar With Bill Ackman’s Trump Optimism +36%
- FMCC US : Fannie, Freddie Shares Soar With Bill Ackman’s Trump Optimism +34%
- GALP PL : Galp Says It Has Drilled and Logged Mopane-2A Well in Namibia
- ICAD FP : Casino Group to Sell Property Portfolio to Icade for EU50m
- IFX GY : Beijing Pushes to Use China-Made Chips in Its EVs - WSJ
- LHA GY : Lufthansa Fined for Using United Air Code in Prohibited Airspace
- PFE US : Pfizer Ends Sangamo Partnership for Hemophilia Therapy
- RECSI NO : REC Silicon to End Production at Site in Moses Lake, Washington
- SGMO US : Sangamo Falls After Pfizer Ends Pact -56% in After Hours
- TSLA US : Tesla’s Shanghai Megafactory Kicks Off Trial Production: Xinhua
- SEAT US : Vivid Seats Shares Jump on Bloomberg Report It’s Exploring Sale
- TIT IM : Telecom Italia May Look to Move Up Sparkle Deal: Messaggero

WSJ : Africa Has Entered a New Era of War

Africa Has Entered a New Era of War
A surge in conflicts has gone largely unnoticed amid higher-profile wars in Ukraine and the Middle East

An unprecedented explosion of conflicts has carved a trail of death and destruction across the breadth of Africa—from Mali near the continent’s western edge all the way to Somalia on its eastern Horn.

Older wars, such as the Islamist uprisings in northern Nigeria and Somalia and the militia warfare in eastern Congo, have intensified dramatically. New power contests between militarized elites in Ethiopia and Sudan are convulsing two of Africa’s largest and most populous nations. The countries of the western Sahel are now the heart of global jihadism, where regional offshoots of al Qaeda and Islamic State are battling both each other and a group of wobbly military governments.

This corridor of conflict stretches across approximately 4,000 miles and encompasses about 10% of the total land mass of sub-Saharan Africa, an area that has doubled in just three years and today is about 10 times the size of the U.K., according to an analysis by political risk consulting firm Verisk Maplecroft. In its wake lies incalculable human suffering—mass displacement, atrocities against civilians and extreme hunger—on a continent that is already by far the poorest on the planet.

Yet, these extraordinary geopolitical shifts in sub-Saharan Africa have been overshadowed by higher-profile conflicts in Ukraine and the Middle East. That has led to less attention from global policymakers—especially in the West—grossly underfunded humanitarian-aid programs and fundamental questions over the futures of hundreds of millions of people.

Africa is now experiencing more conflicts than at any point since at least 1946, according to data collected by Uppsala University in Sweden and analyzed by Norway’s Peace Research Institute Oslo. This year alone, experts at the two institutes have identified 28 state-based conflicts across 16 of the continent’s 54 countries, more than in any other region in the world and double the count just a decade and a half ago. That tally doesn’t include conflicts that don’t involve government forces, for instance between different communities, and whose number has also doubled since 2010.

There is no single driver for the emergence and escalation of so many different conflicts across a huge and diverse geography. But, experts say, many of the most-affected states were left vulnerable after failing to settle on a strong mode of governance after independence—whether as functioning democracies or established authoritarian systems—or were destabilized during moments of once-in-a-generation political transitions.

The former French colonies in the Sahel—Mali, Burkina Faso and Niger—for decades were democracies in name only, regularly disrupted by military coups. Congo’s central government in Kinshasa, like Nigeria’s in Abuja, never managed to exert control over vast territories, opening the door for local and foreign leaders to compete for resources and power, often through violence.

In Ethiopia, Prime Minister Abiy Ahmed’s efforts to centralize power after ending decades of dominance by the Tigray People’s Liberation Front in 2018 have sparked a series of rebellions and clashes between regional militias. In Sudan, two powerful generals turned into rivals after ousting longtime strongman Omar al-Bashir in 2019 and, two years later, a civilian government that was supposed to move the country to democracy.

One inflection point was the year 2011, when, amid the pro-democracy uprisings of the Arab Spring, militaries from the North Atlantic Treaty Organization intervened in Libya to support rebel forces fighting the country’s dictator Moammar Gadhafi. With Gadhafi’s death and Libya’s descent into chaos, thousands of armed men moved south into Mali, reigniting a Tuareg rebellion against the government in Bamako that coincided with the global expansion of extremist ideologies promoted by al Qaeda and Islamic State.

“With the Sahel, it’s clearly a problem of Libya’s collapse and the highway of arms and ideology that that creates,” says Ken Opalo, a Kenyan academic and associate professor at Georgetown University’s School of Foreign Service. “So you get weak states, lots of guns and young men leaving Libya and ideologies coming all the way from Pakistan. Then everything is on fire.”

From Mali, the jihadist insurgency spread across porous borders into Burkina Faso and Niger, where new military juntas frustrated with the failure to defeat the militants have kicked out French and other Western troops. It now threatens coastal West African states such as Benin and Ghana. Today, 86% of the territory of Burkina Faso is affected by fighting between jihadists and state forces, according to Verisk Maplecroft’s analysis of incidents collected by the U.S.-based nonprofit monitoring service Armed Conflict Location and Event Data. For Nigeria, that number is 44%.

Counting the dead in African conflicts is notoriously difficult. Access to the front lines for journalists and aid groups is often restricted. Phone-service and internet shutdowns that accompanied the wars in Sudan and Ethiopia’s Tigray region complicate efforts to track specific events and their death tolls. Many people don’t die in the fighting itself but from hunger and the breakdown of medical services.

For Ethiopia, for instance, experts at the University of Ghent in Belgium have estimated that the two-year war between the government and the TPLF caused the deaths of between 162,000 and 378,000 civilians. Acled, whose analysts scour local news sources and contacts for real-time conflict data, counted fewer than 20,000 war fatalities from the fighting itself.

What is clear from the data is that civilians are much more likely to be deliberately targeted in conflicts in Africa than in many wars elsewhere. In Ukraine, for instance, fewer than 7% of violent events Acled has recorded since February 2024 targeted civilians—compared with more than a third for African conflicts.

“More people are living with violence than ever before, and more people are continuously exposed to armed groups than ever before,” says Clionadh Raleigh, the founder of Acled and a professor of Political Violence and Geography at the University of Sussex in the U.K.

The consequences go beyond the immediate loss of life. Stalled development, delayed elections and a broader sense of impunity are all reinforced by protracted conflict, Raleigh says.
The intensifying conflicts have displaced a record number of Africans—most of them inside their own countries. The continent is now home to nearly half of the world’s internally displaced people, some 32.5 million at the end of 2023. That figure has tripled in just 15 years.

Displacement makes civilians, especially women and children, more vulnerable to the collateral effects of war. In the east of the Democratic Republic of Congo, local officials and health workers estimate that 80% of the women in displacement camps around Goma have been raped—many of them multiple times. In Sudan, home to the world’s first confirmed famine since 2017, the most hungry are people who have been ripped from their home communities and the jobs or fields that sustained their livelihoods.

Africa’s current conflicts haven’t prompted the outpouring of sympathy in the West that accompanied Russia’s invasion of Ukraine or the outrage ignited by Israel’s war in Gaza. There has been no equivalent to the Live Aid concerts motivated by the Ethiopian famine in the 1980s, the protest marches over the genocide in Darfur in the early 2000s or even the #BringBackOurGirls campaign linked to the abduction of 276 schoolgirls from the Nigerian town of Chibok 10 years ago.

That lack of popular attention has translated into a dearth of political action to resolve wars in Africa or alleviate the suffering. Africa’s share of official development aid from rich, mostly Western countries in the Organization for Economic Cooperation and Development is at its lowest level since at least 2000, according to an analysis by the nonprofit One Campaign.

And while funding for humanitarian aid, which makes up just a small slice of overall development aid, has increased, it hasn’t kept pace with expanding needs. The United Nations received just half of the $2.6 billion it said it needed in 2024 to provide humanitarian aid in Congo. Its appeals for Sudan were 64% funded, while Nigeria has received just 57% of its target.

It has also meant that diplomatic pressure on the United Arab Emirates, which, according to Wall Street Journal reporting, is supplying weapons and fighters to one of Sudan’s rival generals, has consistently taken a back seat to America’s desire to maintain the country’s support in the Middle East. U.S. Secretary of State Antony Blinken has visited Africa just four times since 2021—compared with 43 trips to Europe and 22 to the Middle East.

In the absence of the U.S. and other Western governments, other powers have doubled down—and often to the detriment of local populations.

Russia has sent mercenaries to fight in Mali and the Central African Republic, deployments that, according to rights groups, have resulted in more violence against civilians. While the U.A.E. is supporting Sudan’s Rapid Support Forces, the country’s military is backed by Egypt, Iran and, most recently, Russia, allowing each side to keep on fighting. In Congo, Rwanda’s military is fighting alongside the insurgent March 23 Movement in a campaign that has displaced more than two million people.

Data from Uppsala University shows a sharp surge in internationalized civil wars in Africa and that those wars with foreign meddling are deadlier than civil conflicts without outside interference.

The U.S. remains the leading funder of humanitarian aid in Africa despite the distractions in Europe and the Middle East. Washington contributed 47% to the U.N.’s Sudan emergency response plan in 2024 and nearly 70% of that for Congo.

Other traditionally large donors, including Germany and the U.K., have already cut their aid budgets amid the crisis in Ukraine and economic problems at home. And many experts expect substantial changes to U.S. foreign and aid policy under the incoming Trump administration, especially toward U.N. agencies—and a further waning of American influence.

The U.S. and the U.N. “were able to hold a line about what would be considered beyond acceptable for some cases,” says Acled’s Raleigh. “With the Trump administration coming in, that line will disappear. And so the self-interested conflicts that we’re seeing and the people creating violence across the continent will not be checked.”