EU export ban would delay UK Covid vaccine drive by two months
March 22, 2021, 12:24 pm

EU export ban would delay UK Covid vaccine drive by two months

The comparatively small number of doses that a ban would keep within the EU would advance the full vaccination of every adult by just over a week.

Exclusive: Halting distribution would hit Britain badly but not significantly help EU, analysis finds

Britain’s Covid vaccine programme faces a two-month delay in the event of an EU export ban, derailing the government’s plans to reopen the economy this summer, an analysis for the Guardian reveals.

A ban, due to be debated by leaders of the 27 EU member states on Thursday, would badly stall the UK vaccination effort, and would be likely to force the government to extend restrictions on people’s lives.

It would not, however, provide a significant boost to EU member states’ troubled programmes, according to a report by the data analytics company Airfinity.

The comparatively small number of doses that would be kept within the bloc would speed up the full vaccination of every adult in the EU by “just over a week”, the research suggests.The prime minister, Boris Johnson, is expected to speak to his European counterparts ahead of Thursday’s meeting. Government sources told Press Association Johnson spoke to the European commission president, Ursula von der Leyen, along with Dutch and Belgian prime ministers Mark Rutte and Alexander De Croo last week. He may speak to other EU leaders over the coming days, the government source said.

On Sunday, the defence secretary, Ben Wallace, said the EU’s reputation was at stake as the 27 heads of state and government prepare to make their decision, warning that “the world is watching”.

“If contracts get broken, and undertakings, that is a very damaging thing to happen for a trading bloc that prides itself on the rule of law,” he told Sky News. “It is counterproductive because the one thing we know about vaccine production and manufacture is that it is collaborative.

“They would undermine not only their own citizens’ chances of having a proper vaccine programme, but also many other countries around the world, with the reputational damage for the EU which they would find very hard to change over the short term.”

Von der Leyen said last week that the EU was considering “all options” and ready to introduce emergency controls on vaccine production and distribution to deal with the “crisis of the century”.

The 27 heads of state and government will discuss the next steps on Thursday via video conference, amid growing concerns over a third wave of coronavirus infections on the continent. Plans to meet in person were cancelled on Sunday in light of a rise in infections.

France and Germany have privately spoken in support of activating article 122 of the EU’s treaty, last used in the 1970s oil crisis, allowing the bloc to take emergency measures to control the distribution of essential goods.

The EU commissioner for financial services, Mairead McGuinness, said on Sunday: “European citizens are growing angry and upset at the fact that the vaccine rollout has not happened as rapidly as we had anticipated.”

The EU member states had administered 10.4 vaccine doses per 100 people as of Saturday, compared with the 42.7 jabs administered per 100 in the UK.

About 10m vaccine doses have been exported from plants in EU member states to the UK, largely by Pfizer/BioNTech. The UK is waiting on around 30m more Pfizer doses and 30m from Johnson & Johnson – although only some of those had been expected to be delivered by the end of the summer.

The UK government was until the last fortnight on course to beat its target of delivering a first vaccine dose to every adult in the UK by the end of July by over six weeks, according to Airfinity.

A recent supply problem with AstraZeneca’s facility in India is expected to set back the pace of vaccination by two weeks, from 10 June to 23 June.

But the imposition of an export ban on doses of the Pfizer/BioNTech vaccine produced in Belgium and Germany, by far the largest export to the UK, would delay every adult receiving a first jab until 5 August, according to Airfinity.

A ban on all exports of vaccines due for distribution, including those from Moderna and Johnson & Johnson, would delay reaching that target to 27 August, the analysis commissioned by the Guardian further suggests.

Rasmus Bech Hansen, the chief executive of Airfinity, said: “Export bans are a lose-lose situation and threaten the global production scale-up.

“The imposition of a ban would mean the EU has marginally more doses short-term, but it won’t fundamentally change its vaccine availability, and the EU could soon be dependent on vaccine imports.

“A ban poses a significant risk for the UK and any potential UK retaliation on sub-ingredients would harm not only the EU and UK but the world, as it will significantly slow overall production.”

Airfinity’s estimate is based on how long it would take the UK to give at least one dose to 75% of its population, equivalent to an uptake of more than 95% of adults.

The EU has set itself the goal of fully vaccinating 70% of the population by the end of the summer.

According to Airfinity, the EU is on target for full vaccination of 75% of the population by 31 August despite its current difficulties, including the lack of supply from AstraZeneca.

Their analysis suggests that should the EU “keep and use the doses meant for the UK it would only bring them forward by just over a week <19 August>, as their collective population is much greater”.

The commission and its member state governments have been enraged by the failure of AstraZeneca to deliver the promised 120m doses of its vaccine this quarter while it has continued to fulfil its contractual obligations with the UK government.

The company has pointed to the upfront funding provided for its collaboration with Oxford University by the UK government, and its company policy of creating bespoke supply chains for the EU and the UK.

AstraZeneca exports very few doses from EU plants to the UK but the commission is taking a keen interest in jabs and components made in the company’s Dutch facility. Sources have suggested that the commission could, in the first instance, act to block exports from there if a request is made.

source: Daniel Boffey

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.