As anticipated, the United States vetoed a draft resolution proposed by Egypt to counter President Donald Trump’s move to recognize Jerusalem as the capital of Israel. The draft document, which was reportedly seen by Reuters didn’t specifically mention the United States or President Donald Trump but says, “any decisions and actions which purport to have altered the character, status or demographic composition of the Holy City of Jerusalem have no legal effect, are null and void and must be rescinded in compliance with relevant resolutions of the Security Council.” The text added, “deep regret at recent decisions concerning the status of Jerusalem”, though it doesn’t mention the decision taken by the United States. The document also “demands that all states comply with Security Council resolutions regarding the Holy City of Jerusalem, and not to recognize any actions or measures contrary to those resolutions.”
According to United States’ UN ambassador Nikki Haley, the US exercised its veto right to defend its sovereignty as well as its role in the Middle East, who stated that US President Donald Trump’s decision to officially recognize Jerusalem as the Israeli capital is fully consistent and in line with the previous UN resolutions.
However, the United States was isolated at the United Nations’ Security Council (UNSC) meeting as all other 14 members voted in favor of the resolution, with some members being critical of the U.S. decision. The French envoy to the UN said that the US should explain compatibility of its decision [on Jerusalem] with the international consensus and later added that France regrets the outcome of the vote.
The US has been repeatedly warned that its decision would negatively affect the situation in the Middle East. Palestine and the Arab League told Washington that its recognition of Jerusalem as the Israeli capital would destroy the Israeli-Palestinian peace process, while Turkey said that such a move would be a major catastrophe and threatened to cut diplomatic ties with Israel if the US still decided to proceed with it.


Best Gold Stocks to Buy Now: AABB, GOLD, GDX
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed
FxWirePro: Daily Commodity Tracker - 21st March, 2022 



