International

Italian mafia drug trafficker caught in Dubai

AFP

One of Italy’s most wanted international drug barons has been arrested in Dubai, police said on Thursday, following more than six years on the run.

Raffale Imperiale, considered one of Italy’s most dangerous fugitives, was a top operative from the organised crime world of Naples, who in 2016 was believed to have fled to the Gulf emirate.

He was arrested August 4 by Dubai authorities following coordination with Interpol and Europol, police in Naples said in a statement.

They described Imperiale, 47, as a “long-time top level player in international drug trafficking and money laundering” who over the years built up “an impressive network of international traffickers, in particular of cocaine.”

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Italy’s justice ministry was preparing extradition proceedings, police said.

Imperiale — part of the Amato-Pagana clan within Naples’ Camorra organised crime syndicate — left Italy for Amsterdam in the 1990s to manage a coffee shop, and began allying himself with Dutch traffickers, according to Italian daily La Repubblica.

After first dealing in ecstasy tablets, he set his sights on the more lucrative cocaine trade, moving tons of drugs into Holland for the European market with the help of South American traffickers, while at the same time operating restaurants and investment companies, the paper said.

In 2016, Italian police found two Van Gogh paintings that had been stolen from Amsterdam’s Van Gogh museum 14 years earlier inside a home outside Naples belonging to Imperiale.

The paintings — “View of the Sea at Scheveningen” and “Congregation Leaving the Reformed Church at Nuenen” — were stolen in a daring heist.

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Police on Thursday said a close cohort of Imperiale, Vincenzo Aprea — a well-known Camorra boss now in prison — had been able to buy the paintings on the black market using drug money.

International

US panel backs Trump-themed coin amid controversy

The United States Department of the Treasury confirmed to AFP that the Commission of Fine Arts approved the design of a new collectible coin featuring Donald Trump, with members of the commission appointed by the current administration.

According to the proposal, the coin will feature an image of Trump standing with clenched fists over a desk on the obverse, while the reverse will display an eagle, a traditional symbol of the United States.

The sale price of the collectible has not yet been disclosed, although the United States Mint typically offers similar items for more than $1,000.

“There is no more iconic portrait for the front of these coins than that of our president Donald Trump,” U.S. Treasurer Brandon Beach said in a statement sent to AFP. He added that two additional coins — a $1 piece and a one-ounce gold coin — are also under consideration.

However, the Citizens Coinage Advisory Committee (CCAC), another body responsible for reviewing new coin proposals, declined to discuss the Trump design in late February.

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“Only nations governed by kings or dictators place the image of a sitting leader on their currency,” said Donald Scarinciat the time. “No country in the world has minted coins featuring a democratically elected leader during their term in office,” he added.

When contacted by AFP, the Treasury Department did not immediately respond to requests for further comment.

International

Fed’s Waller warns of rising inflation risks amid Middle East conflict

Christopher Waller, a governor at the Federal Reserve, said Friday that he is increasingly concerned about the inflationary impact of the ongoing conflict involving United States and Israel against Iran, particularly due to the prolonged closure of the Strait of Hormuz.

Waller, who had supported interest rate cuts over the past year amid concerns about the labor market, said he has shifted his stance in recent weeks due to rising inflation risks.

“Since the Strait of Hormuz was closed, it suggests this conflict could be much more prolonged and that oil prices will remain elevated for longer,” Waller said in an interview with CNBC.

“Therefore, this indicates that inflation is a greater concern than I had previously assessed,” he added.

Waller also backed the Federal Reserve’s decision earlier this week to keep interest rates unchanged, signaling a more cautious approach as global geopolitical tensions continue to affect economic outlooks.

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International

Brazil offers to mediate Colombia-Ecuador tensions, calls for restraint

The government of Brazil has offered to mediate in the ongoing tensions between Colombia and Ecuador, while calling on both nations to exercise restraint.

In a statement released Wednesday, Brazil’s Ministry of Foreign Affairs urged the parties involved to act with moderation and seek a peaceful resolution to the dispute.

“Brazil encourages all sides to act with moderation in order to find a peaceful solution to the controversy. It stands ready to support dialogue efforts aimed at preserving peace and security in the region,” the statement said.

Brazil also expressed “serious concern” over reports of deaths in the border area between Colombia and Ecuador, noting that the circumstances surrounding the incidents have not yet been clarified.

The diplomatic move comes amid rising tensions between the neighboring countries, increasing regional concern over stability and security along their shared border.