Zelenskiy moves Klymenko from Interior ministry to Ukraine’s national security council

Ukrainian President Volodymyr Zelenskiy is set to appoint former interior minister Ihor Klymenko as secretary of the National Security and Defence Council, completing another stage of a contentious wartime government reshuffle.

Iran Friday prayer cleric says nuclear 'memorandum with US is dead'

Tehran's interim Friday prayer leader has declared the US memorandum finished and said the Strait of Hormuz will stay under Iranian management indefinitely, calling it Iran's best instrument of retaliation against Washington.

Turkey’s opposition leader Ozel says under-attack CHP may set up new party

The 103-year-old party founded by Ataturk is struggling to counter court moves and other tactics that could see it crushed by the Erdogan administration, say analysts.

Iran claims strikes on US aircraft in Jordan, radar sites in Oman, as Chabahar tower destroyed

Iran's Revolutionary Guard says it destroyed US aircraft at bases in Jordan and radar sites in Oman, as a US strike levelled the control tower at Chabahar port. The claims on US losses remain unverified.

EIB approves €800mn loan for refurbishment of Romania's Cernavodă nuclear unit

EU's development bank gives a major financing boost for one of Romania's largest strategic energy projects, with an estimated cost of approximately €1.9bn.

Pakistan targets fully digital remittances to accelerate cashless economy

Prime Minister Shehbaz Sharif has directed officials to ensure that all remittance inflows are processed through digital channels, saying the move would improve transparency, efficiency and economic activity.

Azerbaijan's parliament approves sweeping tax breaks for tech and crowdfunding sector

Baku aims to diversify its hydrocarbon-dependent economy by building a domestic technology and startup sector, following earlier moves to create technology parks and free economic zones.

Strong demand emerges for Romanian telco Digi Spain IPO ahead of market debut

The Spanish subsidiary of Romanian telecom group Digi Communications has attracted nearly €1.3bn of demand from investment funds and family offices.

Trinidad bets on AI infrastructure despite mounting resource concerns

Trinidad and Tobago is pursuing AI-driven investment through major US-backed data centre projects, but concerns over water scarcity, electricity demand and environmental sustainability are emerging alongside promises of jobs and diversification.

Turkish Black Sea villager takes washed-up Russian drone home after “AI safety check”

Reassured UAV contains no explosives, scrap hunter, wife and grandchild grab it by the wings.

Ukraine war exposes widening missile defence gap as strikes reshape energy markets

Ukrainian strikes on Russian energy infrastructure are reshaping fuel markets without significantly reducing Moscow's oil export revenues, analyst argues.

BEYOND THE BOSPORUS: Imamoglu, jailed challenger to Erdogan, given 3 minutes per criminal charge to defend himself

From prison cell, launches blistering attack on collapse of judiciary that will silence political dissent ahead of all elections.

BOFIT: Russia faces increasing challenges in balancing its economic policies

The rising costs of the Ukraine war have forced the Russian government to increase spending, causing the federal budget deficit to expand further. High spending growth is making it hard for the CBR to cut rates and revive the economy.

COMMENT: Why Iran's central bank is starving banks of liquidity

Iran’s central bank is squeezing liquidity to defend the rial, meeting under a fifth of banks’ funding demand as inflation hits 57.7% and money supply growth tops 53% after the war with the US and Israel.

Trump's four-part strategy for a post-American world: retreat, rebel, replace and reform international institutions

Trump has broken with the paradigm of the rules based international order and is causing chaos with his “America first” approach. But actually he has four approaches to reforming international bodies: retreat, rebel, replace and reform.

Russia’s reserves edge up to $722.4bn after June decline

Russia’s international reserves edged up to $722.4bn in the week ending 10 July, according to the Central Bank of Russia, extending a recovery after a sharp fall in late June.

Russia's inflation shock complicates rate cut hopes as central bank braces for slowdown

Russia's central bank has warned that the recent surge in inflation is spreading beyond a temporary fuel price shock, while economists have sharply raised their forecasts for inflation and interest rates, complicating Kremlin hopes for rate cuts,

Israeli inflation falls to five-year low as monthly CPI holds steady

Israel's annual inflation rate fell to 1.6% in the 12 months to June, its lowest in five years, down from 1.9% in May. Monthly CPI came in flat against forecasts of a 0.1%-0.2% decline, leaving inflation inside the Bank of Israel's 1%-3% target band

Romania’s real net wages stay low since mid-2025

Accelerating inflation pushed real wages down by 6.9% y/y in May, the sharpest annual decline in purchasing power in the past decade.

Azerbaijan's H1 oil and gas exports fall in value despite volume gains

Azerbaijan exported oil, gas and related products worth a combined $10.8bn in the first half of 2026, according to State Customs Committee data.

Ukraine turns to police veteran as new Defence Minister to tackle mobilisation challenge

President Volodymyr Zelenskiy's nomination of Interior Minister Ihor Klymenko to replace the popular and effective Mykhailo Fedorov has come as a great disappointment to Ukraine’s allies and the new minister faces formidable challenges.

Lebanon pursues dual-track diplomacy with Syria and Israel to reduce regional exposure

Beirut is engaging Damascus and Israel directly under a "zero problems" policy, signing a framework agreement with Israel and agreeing a joint committee with Syria. The Israeli track stays fragile.

China's 'impossible' gas price risks killing off Power of Siberia-2

China has effectively priced Russia's flagship Power of Siberia-2 gas pipeline out of existence, demanding a price for gas that analysts say would make the project uneconomic.

Kremlin promoting the Far East as major investment frontier in Russia’s pivot to Asia

The Kremlin is pushing the Far East as a major investment opportunity thanks to a sanctions-driven surge in trade with China and a broader wave of investment from across the continent and the Global South.

US LNG exports to Latin America unlikely to stay at three-year high as regional supply pressures ease

KYIV BLOG: What is Ukraine’s future: Afghanistan or Finland?

What is in store for Ukraine? There are two starkly different possibilities. It can become Finland — a country that lost a war, lost a tenth of its territory, swallowed neutrality, and then got rich. Or it can become Afghanistan.

BALKAN BLOG: A Le Pen presidency could slam the brakes on EU enlargement

The European Union's renewed drive to expand eastwards could face its biggest political obstacle yet if French far-right leader Marine Le Pen wins the 2027 presidential election.

KYIV BLOG: Government reshuffle and Ukraine’s Battle of Britain moment

Ukraine is likely to get a new Prime Minister today and a much more pragmatic government as a result of the surprise reshuffle that Ukrainian President Volodymyr Zelenskiy triggered by asking the current Prime Minister Yuliia Svyrydenko to quit.

BALKAN BLOG: Albania's bird symbolism takes flight in political battle

‘Flamingo revolution’ protesters take to the streets of Tirana nightly, but government officials dismiss them as ‘crows’ and ‘ravens’.

CAUCASUS BLOG: EU bets on Armenia and Azerbaijan

Brussels’ South Caucasus policy has shifted as it seeks to secure regional stability, expand transport corridors and reduce Russian influence.

Poland builds EU coalition to push ETS reform

Poland has assembled a 10-country coalition to press Brussels to slow the tightening of the bloc’s emissions trading system and reconsider a carbon market for buildings and road transport.

Cambodia clears over $1bn in renewable energy investments

Cambodia approved more than $1bn worth of renewable energy projects in the first half of 2026, strengthening its clean energy capacity and supporting broader investment growth.

Strong El Niño threatens Latin American inflation and rate cuts, UBS warns

Latin American economies face renewed inflationary pressure and possible delays to interest rate cuts if a strong El Niño weather pattern disrupts food production, electricity generation and infrastructure this year, Swiss bank UBS said in a note.

Poland records third-warmest June since 1951 as scientists urge climate action

Polish scientists have urged lawmakers to hold an urgent parliamentary debate on the climate crisis and accelerate both emissions reductions and adaptation measures.

The super El Nino is here

The planet’s seas are on their way to being as warm as bath water as the predicted super El Niño arrives. It is already clear that this year’s oceanic heating event will be the most powerful on record.