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Russia and Ukraine traded blame on Friday over an attack on a gas metering station that lies in Russia’s Kursk region, just a few hundred meters from their shared border.

The attack on the facility in Sudzha comes just days after the US proposed both sides pause attacks on energy infrastructure.

The Russian Defense Ministry claimed Kyiv had “deliberately attacked” the station, which has been under Ukrainian control since Ukraine launched a surprise incursion into Kursk in August 2024.

Moscow claims Ukrainian forces blew up the facility while “retreating from the Kursk region” with the aim of “discrediting the US president’s peace initiatives.”

Kyiv has described those accusations as “groundless” and claimed they are aimed at discrediting Ukraine and misleading the international community.

“Indeed, the station has been repeatedly shelled by the Russians themselves,” Ukraine’s General Staff said in a Telegram post on Friday.

According to the Ukrainian military, Russia struck the same station with missiles as recently as three days ago.

“The attempts by the Russians to deceive everyone and pretend that they are adhering to the ceasefire will not work, (neither) will the fake news about the strikes on the gas station,” Ukraine’s Presidential Chief of Staff Andriy Yermak posted on X Friday.

The Sudzha gas metering station was the last route through which Russian natural gas was delivered to Europe through Ukraine. Natural gas transportation through Sudzha was terminated on the morning of January 1, 2025, after Kyiv refused to renew the contract.

The attack on the station comes more than a week after the announcement by Russian forces that they had recaptured Sudzha, the largest town that Ukraine has occupied during its incursion into Kursk. Ukraine’s occupation of parts of Kursk is seen as its sole territorial bargaining chip amid pressure to negotiate an end to the war.

Russian President Vladimir Putin agreed to temporarily halt attacks on energy targets in Ukraine after a lengthy telephone call with President Donald Trump on Tuesday, though he stopped short of signing off on a broader ceasefire to end the three-year-long conflict in Ukraine.

On Wednesday Ukrainian President Volodymyr Zelensky said he would support a pause on striking energy targets after his phone call with Trump.

This post appeared first on cnn.com

Klarna, the buy now, pay later lender that’s headed for an initial public offering, said on Thursday that it’s signed on DoorDash as a partner, another sign of momentum for public market investors.

It’s DoorDash’s first BNPL alliance and gives users of the restaurant delivery service a new way to pay for meals. Klarna said in a press release that DoorDash customers will be able to pay in full at checkout, split payments into four equal interest-free installments, or defer to dates that align conveniently with payday schedules.

Klarna, which is headquartered in Sweden, filed its prospectus last week to list on the New York Stock Exchange. Revenue last year increased 24% to $2.8 billion, and adjusted operating profit was $181 million, swinging from a loss of $49 million a year earlier. CNBC reported on Monday that Klarna will be the exclusive provider of buy now, pay later loans for Walmart, taking a coveted partnership away from rival Affirm.

“Our partnership with DoorDash marks an important milestone in Klarna’s expansion into everyday spending categories,” said David Sykes, Klarna’s chief commercial officer, in Thursday’s release.

Klarna, founded in 2005, said in its prospectus that it has 675,000 merchant partners in 26 countries. It’s among the most hotly anticipated IPOs of the year following an extended stretch of historically little activity for new offerings.

This post appeared first on NBC NEWS

Tuesday’s stock market action marked a reversal in investor sentiment, with the broader indexes closing lower. The S&P 500 ($SPX), Nasdaq Composite ($COMPQ), and Dow Jones Industrial Average ($INDU) are still below their 200-day simple moving average (SMA). Investor anxiety is elevated ahead of the Fed’s culmination of its two-day policy meeting. The risk-off sentiment is back, with gold and silver prices rallying. But it may not all be due to the risk-off mode, as lower US Treasury yields and the lower US dollar may have also played a role in the precious metal rally. The SPDR Gold Shares (GLD) hit a new all-time high and silver prices are on the rise.

Technology and consumer discretionary were Tuesday’s worst-performing sectors, while Energy and Health Care took the lead but rose modestly. Overall, it was a pretty red day for U.S. equities (see the StockCharts MarketCarpet below).

FIGURE 1. A SEA OF RED. Tuesday’s StockCharts MarketCarpet was a sea of red with specks of green in the Energy and Health Care, Real Estate, Materials, and Industrials sectors.Image source: StockCharts.com. For educational purposes.

The Mag 7 Unwind

The mega-cap, Mag 7 stocks stand out strongly in Tuesday’s MarketCarpet. The daily chart of the Roundhill Big Tech ETF (MAGS) below shows how these stocks are in a steep fall. The ETF fell below its 50-day SMA and struggled to retain its position above it. The fall from the 50-day to the 200-day SMA was like an elevator ride down. MAGS managed to find a little resistance at its 200-day SMA, but that was short-lived. 

FIGURE 2. ROUNDHILL BIG TECH ETF (MAGS) SLIDES BELOW 200-DAY MOVING AVERAGE. After sliding below its 50-day SMA, MAGS fell hard and continued sliding as it broke below the 200-day SMA.Chart source: StockCharts.com. For educational purposes.

The rise in volume after MAGS fell below its 200-day SMA suggests there’s a lot more selling than buying. The relative strength index (RSI) is hovering above 30, which implies it isn’t oversold yet. So there’s a chance MAGS could fall lower, although it could reverse before dipping into oversold territory.

International Markets

Meanwhile, the iShares China Large-Cap ETF (FXI), iShares MSCI Germany (EWG), iShares MSCI Italy ETF (EWI), and other European stock ETFs are rising. The daily chart of the iShares MSCI EAFE ETF (EFA), which has its top 10 holdings in European companies, is hitting all-time highs (see below).

FIGURE 3. DAILY CHART OF ISHARES MSCI EAFE ETF. European stocks have been rising since early 2025. The 50-day SMA has crossed above the 200-day and price is well above the 50-day SMA.Chart source: StockCharts.com. For educational purposes.

With elevated tariff uncertainty, a slowdown in the U.S. economy, and declining U.S. consumer confidence, it shouldn’t be surprising to see investors diversifying their holdings across different asset groups. This reiterates the importance of having a diversified portfolio spread across different sectors, precious metals, international stocks, and bonds. 

The Closing Bell

Tuesday’s reversal after a two-day winning streak suggests investor uncertainty remains prominent. The Federal Reserve policy meeting ends on Wednesday. Chairman Powell’s press conference is the main event to listen to on Wednesday, but really, any headline could rock the markets in either direction. The best you can do is stay diversified.


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

The government of Israel’s Prime Minister Benjamin Netanyahu has voted to dismiss Ronen Bar, the chief of Israel’s Shin Bet internal security service.

The vote in the early hours of Friday local time could still be subject to appeals by Israel’s Supreme Court.

“The government has now unanimously approved Prime Minister Benjamin Netanyahu’s proposal to terminate the term of Shin Bet head Ronen Bar,” the Prime Minister’s Office said in a statement Friday.

“Ronen Bar will end his role as Shin Bet head on April 10, 2025, or when a permanent Shin Bet head is appointed – whichever comes first,” it added.

It came after Netanyahu met with Bar last week and informed him that he would propose his removal.

In a video statement released on Sunday, Netanyahu said his “ongoing distrust” of Bar had led to the move. “At all times, but especially in such an existential war, the prime minister must have full confidence in the head of the Shin Bet,” Netanyahu said.

Netanyahu added that removing Bar would be necessary for achieving Israel’s war goals in Gaza and “preventing the next disaster.” The prime minister has frequently criticized the agency, placing blame on its leaders for the security lapses that led to the Hamas October 7, 2023, attacks that killed more than 1,200 people.

Shin Bet, which is in charge of monitoring domestic threats to Israel, conducted an internal investigation that determined that the agency had “failed in its mission” to prevent the attacks. But it also blamed policies enacted by Netanyahu’s government as contributing factors, such as politicians’ visits to the Al Aqsa compound in Jerusalem, “the treatment of prisoners, and the perception that Israeli society has been weakened due to the damage to social cohesion.”

Shin Bet is reported to have recently opened an investigation into allegations that members of Netanyahu’s office inappropriately lobbied on behalf of Qatar – something his office denies.

On Wednesday, the office of Attorney General Gali Baharav-Miara sent a letter to Netanyahu saying that the government could not fire Bar without the approval of a special committee.

Netanyahu responded with a letter on Thursday, saying Baharav-Miara was “exceeding her authority” and “giving legal opinions and instructions to the government in violation of Supreme Court rulings.”

Bar released a statement just hours before his dismissal saying the vote by Netanyahu’s cabinet “was hastily convened, contrary to every basic legal rule dealing with the right to be heard and contrary to the position of the legal adviser to the government.”

Netanyahu has previously removed both Bar and the head of the Mossad intelligence service, David Barnea, from the negotiating team engaging in indirect talks with Hamas regarding the Gaza ceasefire and hostage deal.

Opposition politicians have criticized Netanyahu’s targeting of Bar, claiming it is politically motivated.

“The dismissal of the head of the service at this time, at the initiative of the prime minister, sends a message to all those involved, a message that may jeopardize the optimal outcome of the investigation. This is a direct danger to the security of the state of Israel,” Bar said in his statement Thursday.

This post appeared first on cnn.com

A federal appeals court ruled that art created autonomously by artificial intelligence cannot be copyrighted, saying that at least initial human authorship is required for a copyright.

The ruling Tuesday upheld a decision by the U.S. Copyright Office denying computer scientist Stephen Thaler a copyright for the painting “A Recent Entrance to Paradise.”

The picture was created by Thaler’s AI platform, the “Creativity Machine.”

The “Copyright Office’s longstanding rule requiring a human author … does not prohibit copyrighting work that was made by or with the assistance of artificial intelligence,” a three-judge panel of the U.S. Circuit Court of Appeals for the District of Columbia said in its unanimous ruling.

“The rule requires only that the author of that work be a human being — the person who created, operated, or use artificial intelligence — and not the machine itself,” the panel said.

The panel noted that the Copyright Office “has allowed the registration of works made by human authors who use artificial intelligence.”

Copyright grants intellectual property protection to original works, giving their owners exclusive rights to reproduce the works, sell the works, rent them and display them.

Tuesday’s ruling hinged on the fact that Thaler listed the “Creativity Machine” as the sole “author” of “A Recent Entrance to Paradise” when he submitted a registration application to the Copyright Office in 2018.

Thaler listed himself as the picture’s owner in the application.

Thaler told CNBC in an interview that the Creativity Machine created the painting “on its own” in 2012.

The machine “learned cumulatively, and I was the parent, and I was basically tutoring it,” Thaler said.

“It actually generated [the painting] on its own as it mediated,” said Thaler.

He said his AI machines are “sentients” and “self-determining.”

Thaler’s lawyer, Ryan Abbott, told CNBC in an interview said, “We do strongly disagree with the appeals court decision and plan to appeal it.”

Abbott said he would first ask the full judicial lineup of the Circuit Court of Appeals to rehear the case. If that appeal is unsuccessful, Abbott could ask the U.S. Supreme Court to consider the issue.

The attorney said the case detailed “the first publicized rejection” by the Copyright Office “on the basis” of the claim that a work was created by AI.

That denial and the subsequent court rulings in the office’s favor, “creates a huge shadow on the creative community” he said, because “it’s not clear where the line is” delineating when a work created by or with the help of AI will be denied a copyright.

Despite the ruling, Abbott said he “was very pleased to see that the case has been successful in drawing public attention to these very important public policy issues.”

The Copyright Office first denied Thaler’s application in August 2019, saying, “We cannot register this work because it lacks the human authorship necessary to support a copyright claim.”

“According to your application this work was ’created autonomously by machine,” the office said at the time.

The office cited an 1884 ruling by the Supreme Court, which found that Congress had the right to extend copyright protection to a photograph, in that case one taken of the author Oscar Wilde.

The office later rejected two requests by Thaler for reconsideration of its decision.

After the second denial, in 2022, Thaler sued the office in U.S. District Court in Washington, D.C., seeking to reverse the decision.

District Court Judge Beryl Howell in August 2023 ruled in favor of the Copyright Office, writing, “Defendants are correct that human authorship is an essential part of a valid copyright claim.”

“Human authorship is a bedrock requirement of copyright,” Howell wrote.

Thaler then appealed Howell’s ruling to the D.C. Circuit Court of Appeals.

In its decision Tuesday, the appeals panel wrote, “This case presents a question made salient by recent advances in artificial intelligence: Can a non-human machine be an author under the Copyright Act of 1976?”

“The use of artificial intelligence to produce original work is rapidly increasing across industries and creative fields,” the decision noted.

“Who — or what — the ‘author’ of such work is a question that implicates important property rights undergirding growth and creative innovation.”

The ruling noted that Thaler had argued that the Copyright Office’s human authorship requirement “is unconstitutional and unsupported by either statute or case law.”

Thaler also “claimed that judicial opinions ‘from the Gilded Age’ could not settle the question of whether computer generated works are copyrightable today,” the ruling noted.

But the appeals panel said that “authors are at the center of the Copyright Act,” and that “traditional tools of statutory interpretation show that within the meaning of the Copyright Act, ‘author’ refers only to human beings.”

The panel said that the Copyright Office “formally adopted the human authorship requirement in 1973.”

That was six years after the office noted in its annual report to Congress that, “as computer technology develops and becomes more sophisticated, difficult questions of authorship are emerging.”

Abbott, the attorney who represented Thaler in the appeal, told CNBC that the Copyright Act “never says” that “you need a human author at all for a work … or a named author.”

Abbott noted that corporations are granted copyrights, as are authors who are anonymous or pseudonymous.

Protecting a ‘beautiful picture’

The Copyright Office, in a statement to CNBC, said it “believes the court reached the correct result, affirming the Office’s registration decision and confirming that human authorship is required for copyright.”

Thaler said that he will continue to pursue his bid for a copyright for the painting.

“My personal goal is not to preserve the feeling of machines,” Thaler said. “It’s more to preserve, how should I say, orphaned intellectual property.”

“A machine creates a beautiful picture? There should be some protection for it,” Thaler said.

This post appeared first on NBC NEWS

Last week, tariff talks, recession fears, and waning consumer sentiment sent stocks lower. This week, the narrative may have shifted, as investors prepare for a macro-filled week and NVIDIA’s annual GTC developers’ conference.

Retail sales data for February came in slightly lower than expectations but better than January’s number. This, along with Treasury Secretary Scott Bessant’s comments about the necessity of the economy undergoing a detox period, may have eased investor worries. All broader equity indexes closed higher on Monday, marking two solid up days in a row.

Next up, we have home prices and new home sales, an important measure of consumer health. The SPDR S&P Homebuilders ETF (XHB) went through a steep downturn as did the SPDR S&P Retail ETF (XRT). Consumer spending is a major contributor to GDP growth which is why these two charts should be on every inverter’s radar. While both ETFs saw an upside swing on Monday, it’s not enough to change the trend (see chart below).

FIGURE 1. SPDR S&P HOMEBUILDERS ETF AND SPDR S&P RETAIL ETF. Both saw a significant slide in value. The upside swing in the last price bar needs to see a lot more momentum and follow through and a confirmed trend reversal. Chart source: StockCharts.com. For educational purposes.

Both ETFs (XHB in the top panel and XRT in the bottom panel) are trading below their 50-day simple moving average (SMA). Monday’s upside move is significant enough to alert investors that perhaps momentum is starting to change. It could be the start of a reversal, a short-term rally that resumes its downtrend, or the beginning of a sideways move. Regardless, it’s worth monitoring the sectors and specific industry groups to get an idea of the general investor sentiment. The StockCharts MarketCarpets can go a long way in giving a big-picture view of the overall market (see below).

FIGURE 2. IT’S MOSTLY A SEA OF GREEN EXCEPT FOR THE HEAVY-WEIGHT LARGE-CAP STOCKS. There was money flowing into the market, especially in the Real Estate, Energy, and Consumer Staples sectors. Image source: StockCharts.com. For educational purposes.

Money flowed into the Real Estate, Energy, and Consumer Staples sectors, but all 11 S&P sectors closed in the green. The weakest performer was Consumer Discretionary—you can thank the slide in Tesla, Inc. (TSLA) and Amazon.com, Inc. (AMZN) for that.

All Ears on Fed

Perhaps the most important macro-event this week will be the FOMC meeting. Although an interest rate cut isn’t expected, there’s still uncertainty surrounding tariffs. When Federal Reserve Chairman Jerome Powell takes the podium on Wednesday, investors will be listening for clues about economic growth and inflation expectations.

Bond prices are showing signs of rising. The iShares 20+ Year Treasury Bond ETF (TLT), which has been trending higher this year, closed modestly higher. Gold and major cryptocurrencies such as Bitcoin and Ether also closed higher.

The Bottom Line

While it’s encouraging to see the stock market show upside momentum after sliding lower for almost a month, take things one day at a time. If you have some cash sitting on the sidelines, be patient and wait for confirming signals of a trend reversal.


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Indonesia’s parliament on Thursday passed contentious revisions to the country’s military law, which will allocate more civilian posts for military officers, and street protests against the changes are expected to take place.

The revisions have been criticized by civil society groups, who say it could take the world’s third-biggest democracy back to the draconian “New Order” era of former strongman president Suharto, when military officers dominated civilian affairs.

Speaker Puan Maharani led the unanimous vote in a plenary council and officially passed the law, saying that it was in accordance with the principle of democracy and human rights.

President Prabowo Subianto, who took office last October and was a special forces commander under Suharto, has been expanding the armed forces’ role into what were considered civilian areas, including his flagship program of free meals for children.

Rights groups have criticized the increased military involvement because they fear it may lead to abuses of power, human rights violations, and impunity from consequences for actions.

The government has said the bill requires officers to resign from the military before assuming civilian posts at departments such as the Attorney’s General Office and a lawmaker has said officers could not join state-owned companies, to counter concerns the military would be involved in business.

Protesters from several democracy groups and students have said they will stage rallies in front of the parliamentary building in Jakarta.

Some students had camped at the back gate of parliamentary building since Wednesday evening, protesting the law and demanding the government pull out all military personnel from civilian jobs.

Police officers forced them to leave the building but they refused, one protestor who declined to be named told Reuters. There were just a few dozen protesters at the time the bill was passed by parliament.

Military personnel were called in for security in the parliamentary building to assist police.

“The geopolitical changes and global military technology require the military to transform … to face conventional and non conventional conflicts,” Defense Minister Sjafrie Sjamsoeddin told parliament, while defending the revised law.

“We will never disappoint the Indonesians in keeping our sovereignty,” he added, but did not specify what geopolitical challenges he was referring to.

This post appeared first on cnn.com

The Federal Trade Commission is going after an e-commerce company that allegedly took millions of dollars from consumers as part of a “passive income” scheme, which spun up Amazon storefronts on their behalf and promised “insane returns” that were higher than the stock market.

The FTC said Tuesday it filed a lawsuit against the company, called Click Profit; its co-founders Craig Emslie and Patrick McGeoghean; and two other business associates. It also asked a judge to bar the parties from doing business temporarily.

The case is the latest example of the FTC cracking down on e-commerce “automation” services. These companies launch and manage online storefronts on behalf of clients, who pay money for the services and the promise of earning tens of thousands of dollars in “passive income.” The companies often make extravagant claims about potential earnings and the use of artificial intelligence technology to guarantee profits. Despite their assurances, consumers frequently end up losing money.

Click Profit, which also operated under the names FBALaunch, Automation Industries and PortfolioLaunch, promised investors they would “build you a massively profitable e-commerce store from the ground up” by selling products on Amazon, Walmart and TikTok, according to the FTC.

The company charged consumers between $45,000 to $75,000 for the initial investment, plus an additional $10,000 or more to pay for inventory, the FTC alleged in its complaint, which was filed in the U.S. District Court for the Southern District of Florida. Click Profit took up to 35% of any profits from their customers’ stores, the complaint states.

The company claimed the business opportunity was “safe, secure and proven to generate wealth,” according to marketing materials referenced in the FTC’s complaint. They posted screenshots of purportedly successful Amazon storefronts, including one they claimed generated product sales of over $540,000 in one month.

Emslie often appeared in TikTok videos and other online ads to pitch prospective consumers. In one ad, he said that “the stock market, real estate or precious metals will never be able to offer you” the level of security offered through investing in Click Profit, according to the FTC’s complaint. Other TikTok videos show him appearing alongside an image of Warren Buffett while “fanning himself” with wads of cash, per the complaint.

Click Profit talked up its expertise by claiming it had product sourcing partnerships with legitimate brands, including Nike, Disney, Dell, Colgate and Marvel, the complaint alleges. It also claimed to have spent $5 million to build a “super computer” and other AI technologies to locate the “most profitable products,” claiming the super computer had generated “around $100 million in sales,” per the complaint.

The company even implied that investors’ online store could be bought out by venture capital firms connected with Click Profit “at a 3-6x multiple,” the FTC alleged.

“In reality, the highly touted AI technology and brand partnerships do not exist, and the promised earnings never materialize,” the FTC said in its complaint.

Amazon suspended or terminated about 95% of Click Profit’s stores after they violated Amazon’s seller policies, the FTC alleged. After accounting for Amazon’s fees, more than one-fifth of Click Profit’s stores on the platform earned no money at all, while another third earned less than $2,500 in gross lifetime sales, the FTC stated.

As a result, most consumers were unable to recoup their investments and “some are saddled with burdensome credit card debt and unsold products,” according to the FTC, which also said that Click Profit often refused to refund victims their investments and threatened them with legal action if they posted publicly about their experience.

One unnamed consumer mentioned in the lawsuit invested “his life’s savings” in Click Profit and was later terminated as a client “with nothing to show for his payments,” the complaint states. He posted a negative review online and was allegedly approached by Emslie’s attorney, who threatened to sue the consumer and “take everything he and his wife owned,” per the complaint.

The consumer took the reviews down, then asked Emslie whether he could receive a partial refund, according to the FTC.

“The attorney told the consumer that Emslie had responded, ‘F*** off,’” the FTC alleged.

Representatives for Emslie and Click Profit didn’t immediately respond to a request for comment.

The FTC alleges Click Profit violated the FTC Act, the Consumer Review Fairness Act and the Business Opportunity Rule. It seeks to permanently prohibit Click Profit from doing business, as well as monetary relief for the victims.

This post appeared first on NBC NEWS

On Friday DP indicators logged an Upside Initiation Climax. This exhaustion events often mark the beginning of new rallies and could indicate that the market is indeed ready to rebound. However, we do question its veracity given lukewarm trading to begin Monday’s trading.

Carl started us off by looking at the DP Signal Tables which are clearly reading bearish after the big correction on stocks. But as Carl said, things get as bad as they’re going to get before it tends to start doing better.

He also walked us through the market in general, giving us a read on not only the SPY, but he covered Bitcoin, Gold, Dollar, Crude Oil, Gold Miners, Yields and Bonds.

As always Carl walked us through the short-term and intermediate-term picture for the Magnificent Seven.

Erin took over and gave us a complete overview of sector rotation, noting that defensive sectors are still looking the most bullish while aggressive sectors are struggling to reverse right now.

To end the program Erin took symbol requests from the audience to include BABA, WMT and AKAM among others.

01:11 DP Signal Tables

03:25 Market Overview

18:35 Magnificent Seven

27:03 Questions

29:43 Sector Rotation

37:36 Symbol Requests

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The US energy department put South Korea on a watchlist because visitors to its laboratories mishandled sensitive information, Joseph Yun, the acting US ambassador, said on Tuesday.

The designation, which relegated the US ally to the lowest tier of a list that includes China, Iran, Israel, Russia, Taiwan, and North Korea, sparked controversy and debate in Seoul, which said it had not been notified by Washington.

“South Korea was put on this list because there was some mishandling of sensitive information,” Yun said in remarks to the American Chamber of Commerce in Korea.

He did not elaborate on the issue, but said more than 2,000 South Korean students, researchers, and government officials visited US labs last year.

The designation was limited to the department’s facilities, Yun added, and did not have wider implications for cooperation between the allies.

“It is not a big deal,” he added. “There were some incidents because there were so many South Koreans going there.”

This week the US energy department confirmed it had designated South Korea a “sensitive” country in January, but did not explain why.

Vice ministers in Seoul were set on Tuesday to brief acting President Choi Sang-mok on their response, while Industry Minister Ahn Duk-geun is expected to ask for South Korea to be dropped from the list when he visits the United States this week, government sources have said.

In a report last year, the US energy department said it had fired a contractor who tried to board a flight to South Korea with “proprietary nuclear reactor design software” owned by the Idaho National Laboratory.

That individual, who was being investigated by US law enforcement, had been in contact with an unnamed foreign government, the report said, without identifying the country.

It was not immediately clear if that case contributed to the designation. Officials in the energy department and state department were not immediately available for comment.

The US decision to add South Korea to the list was taken by the previous Biden administration, a spokesperson for the US Department of Energy (DOE) has said.

It came as South Korean officials increasingly raised the prospect of some day pursuing their own nuclear weapons, and in the aftermath of a shock martial law declaration in December that threw the country’s leadership into crisis.

On Monday, however, Seoul’s foreign ministry said the DOE decision was understood to have stemmed from “security-related matters” linked to a research center, and not South Korea’s foreign policy.

The DOE spokesperson said the designation, due to take effect in April, set no new restrictions but mandates internal reviews before cooperation or visits to listed countries.

Meanwhile, Yun called on South Korea to help reduce the US trade deficit with Seoul, which has more than doubled since the first Trump administration. “To the new administration in Washington, that is troubling,” he said.

South Korea needs to scrap barriers in the agriculture, digital and service sectors, he added.

This post appeared first on cnn.com