State Agency Envisions Cannabis Cultivation Boosting Job Growth in Alaska
by Bethan Rose
WNBA star Brittney Griner got a trial date, medical cannabis was deemed “recession-proof,” and the SAFE Banking Act stumbled once again.
Let’s dive into this week’s cannanews.
WNBA star Brittney Griner’s trial in Russian court is officially set to start this Friday. Griner has been under custody for the last four months following an arrest for alleged cannabis possession at a Moscow airport.
As part of the announcement, Russian officials also ordered Griner to remain under custody for the remainder of the trial. If convicted, Griner could be sentenced to up to 10 years in prison. Given Russia’s historically tough criminal justice system in which fewer than 1% of defendants are acquitted, however, Griner’s outlook is not so positive.
Experts familiar with Griner’s case said the trial and subsequent conviction are expected as part of a larger move to pressure the U.S. into a prisoner exchange. According to Russian news outlets, arms trader Viktor “The Merchant of Death” Bout could be the prisoner on the U.S. side of the deal. Bout is currently serving a 25-year sentence for conspiracy to kill a U.S. citizen and aiding a terrorist organization.
Others have proposed a joint deal that frees former U.S. Marine and security director Paul Whelan as well as Griner. Whelan is serving a 16-year sentence in Russia over espionage charges. When asked about the package deal, however, U.S. Secretary of State Antony Blinken said he could not comment “in any detail on what we’re doing, except to say this is an absolute priority.”
What do you think of the developments in Griner’s case? Do you think the U.S. is doing enough to free her? Let us know in the comments!
With fears of an oncoming recession running rampant, investors in Europe’s young cannabis market have become more cautious about where they’re putting their money. The report comes from Bloomberg, which reached out to various European investment firms to get their take on the short-term future of the cannabis market.
The overwhelming expectation is that a recession will force many start-up cannabis businesses to go under. Some, like Hanway Associates’ Alastair Moore, however, say this is not an entirely bad thing: “This period will be really good for clearing out those who were just trying to make a quick buck,” said Moore. “That’s a good thing for the sector.”
In spite of the dark outlook for the market, experts have expressed their belief that medical cannabis will be able to weather the storm. One of these medical cannabis believers is Enxis AB’s David Bonnier, who said the industry is not as sensitive to recessions because “most patients still need their medications, and they’re still gonna go see their doctors—no matter if we’re in a recession or not.”
Bonnier’s confidence in the medical market is shared by cannabis industry research firm Prohibition Partners. According to the firm, the UK’s cannabis industry is projected to be worth around $1.2 billion (even with a recession) if the country decides to legalize medical-use cannabis this year.
What do you think of experts’ take that the medical market is “recession-proof”? Let us know in the comments!
In a major setback for cannabis advocates in the U.S., Congress has announced that the SAFE Banking Act will not be included in the forthcoming China Competition Bill. The SAFE Banking Act would’ve allowed legally operating businesses to access banking services that have become crucial in the wake of increasing dispensary-targeted robberies.
According to Punch Bowl, the decision came after Republican negotiators made it known that they would not vote for the China Competition Bill if the Safe Banking Act was included. In the GOP’s mind, it made no sense to include anything cannabis-related in the bill.
Colorado Representative Ed Perlmutter, the SAFE Banking Act’s lead sponsor, voiced his discontent at the GOP’s decision to exclude the measure: “In the wake of the Senate’s inaction, people continue to be killed, businesses continue to be robbed, and employees and business owners in the cannabis industry continue to be excluded from the financial system.”
The pressure is now on Democrats to get cannabis reform across the finish line. Failing to do so could lead to devastating consequences ahead of the midterm elections.
In 2018, former President Donald Trump signed the Farm Bill into law. The Farm Bill is the federal government’s primary agricultural and food policy instrument. Every five years, Congress deals with renewing and revising the comprehensive bill. Before 2018, cannabis was not part of the conversation around farm subsidies or crop insurance. With the passing…
Four U.S. states—Minnesota, Ohio, Oklahoma, and Pennsylvania—stand a good chance at legalizing recreational cannabis this year. There’s also a slim chance of efforts being successfully voted on in the Carolinas, Indiana, and New Hampshire. Advocates are pushing harder for cannabis reform after achieving mixed results during last year’s midterm elections, which saw two victories (Missouri…
Thursday, Jan. 26, 2023, will be a date to remember for cannabis lobbyists in Greece because, on this day, the first-ever medicinal cannabis production plant was inaugurated at Examilia in Corinth. Drizzled in seaside charm, Corinth is renowned for its ancient Roman remains and now claims the limelight as a medical marijuana production hub. Tikun…
Nobody wants to spend time with paranoid Pete, but if you don’t choose your cannabis strains wisely, you could get flung into a portal of paranoia yourself. Funnily enough, a recent Marist poll found that almost a third of cannabis users in the U.S. use marijuana to ease anxiety or stress. A separate Marist poll…
Oklahomans’ cannabis vote ended on a sour note, a Canadian dispensary is facing backlash over cocaine sales, and Arizona law students are offering free expungement services. Let’s dive into this week’s cannanews. Oklahomans Vote on Cannabis Legalization Earlier this week, Oklahoma voters had a big decision to make on the ballot. Question 820 asked Oklahomans…
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Adam Steinberg says:
July 1, 2022 at 11:05 am
As the U$ Govt continues to felonize everyday citizens for non violent cannabis possession, I find it hard to believe they would trade anyone charged with a cannabis crime. Timothy Leary served nine years for a single joint in the U$
John Alexander says:
July 3, 2022 at 9:48 am
I have lung cancer. I live in Georgia. How will a cannabis card help me?