On June 13, the United States announced a new package of sanctions against Russia, this time new restrictions affected the financial infrastructure. The restrictions included the Moscow Exchange, the National Clearing Center (NCC) and the National Settlement Depository (NSD).
The current restrictions have led to the immediate suspension of trading in dollars and euros on the country’s leading financial platform, the Moscow Exchange. Thus, banks and companies will no longer be able to trade any currency through the central exchange. Most Russian citizens keep their savings in dollars or euros, as they do not trust the ruble due to the likelihood of it falling. The head of the central bank assured that the new restrictions will not affect people's deposits in any way. By the evening, after the announcement of new sanctions, many banks immediately raised their dollar rates. For example, Norvik Bank offers to buy dollars for 50 rubles and sell for 200 rubles. In May, the Chinese yuan again supplanted the dollar and became the most traded currency on the Moscow Exchange.
Hunter Biden, the son of President Joe Biden, was recently found guilty by a jury of purchasing a gun while under the influence of drugs, marking the first instance of an immediate family member of a sitting president being accused of a crime. The case, which dates back to a time before Joe Biden assumed office, reveals that Hunter, who has publicly struggled with drug addiction, omitted this crucial information during the purchase of the weapon in 2018. If the court issues a final ruling, Hunter could potentially face a daunting penalty of up to 25 years in prison and a fine of up to $750,000.
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However, legal experts suggest that due to this being his first offense, he may ultimately receive a lesser sentence of up to 5 years. President Biden has maintained that he will not intervene in the legal process on behalf of his son, affirming his commitment to upholding the rule of law. Hunter is also set to face charges of tax evasion in September, with allegations that he failed to pay taxes totaling over $1.4 million between 2016 and 2019. If convicted, he could face up to 17 years in prison for this offense as well.
The Prosecutor General's Office of the Russian Federation has forwarded the case of Wall Street Journal journalist Evan Gershkovich to court. The indictment alleges that Gershkovich, allegedly acting on behalf of the CIA, gathered classified information on the Uralvagonzavod defense enterprise.
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Gershkovich was apprehended in Yekaterinburg on March 30, 2023, sparking controversy as American authorities deemed his arrest unjust and argued that he was simply performing his journalistic duties. Colleagues and associates have also expressed disbelief at the allegations, with Gershkovich himself refuting any involvement in espionage. His detention marks the first instance of a Western journalist being held in Russia since Soviet era. American officials are currently engaged in negotiations with Russian authorities in an effort to secure the release of both Gershkovich and another detained citizen, Paul Whelan. Whelan, a former Marine, has been in custody since 2018 on suspicions of espionage.
Mass protests have been taking place in Buenos Aires for several days against the adoption of a controversial bill regarding economic reforms in the country. On the first day, the protest was entirely peaceful, but later the protests turned into clashes with the police, with protesters throwing stones and Molotov cocktails.
The new package of reforms proposed by the country's President Javier Milei includes radical economic reforms. The President plans to declare an economic emergency, significantly reduce pensions and government costs, and reduce energy and transportation subsidies. Such drastic changes were opposed by leftist parties, representatives of trade unions and public organizations. Opposition representatives claimed that such reforms would only worsen the general situation of the population.
President Milei remains steadfast in his commitment to implementing the reforms, dismissing protesters as terrorists seeking to destabilize the country.
The recent peace summit, which gathered representatives from 90 countries and international organizations in Switzerland, concluded with a final communiqué that saw the majority of countries backing the call for a full exchange of prisoners, the repatriation of deported Ukrainian children, and the return of control over the Zaporozhye nuclear power plant to Kyiv. However, a number of countries, including Saudi Arabia, India, South Africa, Thailand, Indonesia, Mexico, and the United Arab Emirates, chose to abstain from endorsing the document.
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Ukrainian President Zelensky expressed optimism about the prospects for peace between the two nations following the summit. While the Russian delegation was not present at this meeting, there are plans to include them in the upcoming second world summit. Foreign leaders believe that progress can only be made with the participation of both parties. Although specific details regarding the timing and location of the second peace summit have yet to be confirmed, the outcomes of the recent summit have instilled hope and positivity for a swift resolution to the conflict.
Israeli President Benjamin Netanyahu has recently announced the dissolution of the country's military cabinet, which was formed in response to the ongoing conflict between Israel and Hamas. This decision was anticipated following the departure of Benny Gantz and his partner Gadi Eisenkot.
Benny Gantz, a prominent political figure, cited Netanyahu's lack of an effective strategy for resolving the conflict in Gaza as the reason for his resignation. Gantz also accused Netanyahu of failing to prioritize the release of hostages. Netanyahu is set to convene with ministers on Monday to discuss important military decisions. Analysts predict that, leading up to the fall, Netanyahu will focus on resolving the hostage situation rather than making drastic military moves. The outcome of the upcoming US elections in November will also influence Netanyahu's stance, with a potential win for President Donald Trump likely leading to a more aggressive military approach.
Russian President Vladimir Putin is set to embark on a significant two-day visit to North Korea, marking his first official visit to the country since 2000, when he met with the leader Kim Jong Il. During this upcoming visit, an agreement on strategic partnership between Russia and the Democratic People's Republic of Korea (DPRK) is expected to be signed. The strengthening relations between Russia and North Korea have raised concerns within the Biden administration. Prior to his trip, President Putin expressed gratitude to the North Korean leader for the country's support in the war against Ukraine, highlighting North Korea's role as an important partner in the supply of shells and missiles. Additionally, discussions during the visit are expected to focus on expanding economic cooperation, particularly in light of the sanctions imposed on both nations.
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Putin's visit to North Korea signifies a deepening of diplomatic ties and strategic partnerships between the two nations, with potential implications for regional geopolitics and international relations.
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