Originally published on Tue April 2, 2013 11:48 am
By Steve Mullis
Credit Timothy A. Clary / AFP/Getty Images
The United Nations General Assembly overwhelmingly approved the first U.N. treaty to regulate the estimated $60 billion global arms trade on Tuesday.
The goal of the Arms Trade Treaty, which the U.N. has sought for over a decade, according to The Associated Press, is to keep illicit weapons out of the hands of terrorists, insurgent fighters and organized crime.
The vote on the treaty was 154-3, with 23 abstentions.
Russia is urging the U.S. and North Korea to end an escalating cycle of dangerous provocations after Pyongyang put its missile forces on high alert and American stealth bombers flew practice bomb runs over the Korean Peninsula.
Foreign Minister Sergei Lavrov, speaking Friday in Moscow, said the tit-for-tat moves were becoming a "vicious cycle" that could "simply get out of control," Reuters reports.
Originally published on Thu March 28, 2013 10:53 am
Credit Sabelo Mngoma / AP
The leaders of Brazil, Russia, India, China and South Africa – emerging economies that collectively are referred to as BRICS – announced Wednesday the creation of a development bank to fund infrastructure projects in developing nations.