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European countries voice concern over Israeli airstrikes in Syria, urge de-escalation

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Norway, Germany, France and the EU on Wednesday voiced concern over Israel’s current airstrikes in southern Syria, warning the escalation may threaten regional stability and undermine efforts for a peaceable transition.

“The EU is alarmed by the continued clashes in Sweida (Suwayda), which have resulted in many casualties, and strongly condemns the reported violence against civilians,” EU spokesperson Anouar El Anouni stated in a press release.

“The transitional authorities have the responsibility to de-escalate and restore calm, to ensure accountability for all crimes and to take forward an inclusive transition,” he stated.

“In light of Israel’s escalating strikes on Syrian territory, we urge all external actors to fully respect Syria’s sovereignty and territorial integrity,” he added.

Germany additionally criticized the Israeli airstrikes and known as on all sides to keep away from additional destabilizing the nation.

“We are calling on all sides to refrain from taking steps that could destabilize Syria,” German Foreign Ministry spokesman Christian Wagner instructed reporters in Berlin.

“It’s clear that Syria must not become a plaything of foreign powers, that Syria’s sovereignty must be safeguarded,” he careworn.

Wagner added: “Israel must have an interest in a stable Syria” and in “an effective Syrian government that ensures security for all population groups across the country.”

“The main priority must be that the government in Damascus is able to act and can also ensure security in all parts of Syria,” he stated.

“And to achieve this, it must, of course, involve all population groups in the process. Syria’s sovereignty and territorial integrity must be preserved.”

France, for its half, expressed “deep concern” over the “serious developments” in Syria’s southern Suwayda area and known as for a right away cessation of hostilities.

“France supports the efforts of the Syrian transitional authorities and the leaders of the Suwayda region to return to dialogue, and calls for a lasting agreement to strengthen Syria’s unity, stability, and sovereignty, as well as the security of all Syrians,” stated a Foreign Ministry assertion.

“The abuses targeting civilians, which France firmly condemns, must stop. The ceasefire announced yesterday morning by the Defense Minister of the Syrian transitional authorities must be respected by all parties,” it added.

“Deeply concerned about recent Israeli airstrikes and rising domestic tensions. The escalation risks undermining efforts towards a peaceful, Syrian-owned transition,” Norwegian Foreign Minister Espen Barth Eide wrote on X.

He added that he was “alarmed” by the “escalating violence” in Syria and urged all actors to train “maximum restraint.”

Israel renewed its airstrikes in Suwayda, southern Syria, on Wednesday, within the newest violation of the nation’s sovereignty. Tel Aviv claims that the assaults purpose to guard the Druze group in Syria.

The assaults got here because the Syrian military deployed forces within the province to revive safety and defend civilians and their property, following clashes between armed Druze and Bedouin teams that left at the very least 30 folks lifeless.

Source: www.anews.com.tr

US sanctions violate immunity that protects UN envoys: Albanese

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U.N. envoy on Palestinian rights Francesca Albanese mentioned Tuesday that U.S. sanctions towards her, imposed after her criticism of Washington’s Gaza coverage, violate her diplomatic immunity.

The United Nations’ Special Rapporteur on the occupied Palestinian territories made the feedback whereas visiting Bogota, almost every week after U.S. Secretary of State Marco Rubio introduced the sanctions, calling her work “biased and malicious.”

“It’s a very serious measure. It’s unprecedented. And I take it very seriously,” Albanese advised an viewers within the Colombian capital.

Albanese was in Bogota to attend a world summit initiated by leftist President Gustavo Petro to seek out options to the Gaza battle.

The Italian authorized scholar and human rights knowledgeable has confronted harsh criticism for her long-standing accusations that Israel is committing “genocide” in Gaza.

“It’s clear violation of the U.N. Convention on Privileges and Immunities that protect U.N. officials, including independent experts, from words and actions taken in the exercise of their functions,” Albanese mentioned.

Rubio on July 9, introduced that Washington was sanctioning Albanese “for her illegitimate and shameful efforts to prompt (ICC) action against U.S. and Israeli officials, companies, and executives.”

The sanctions are “a warning to anyone who dares to defend international law and human rights, justice and freedom,” Albanese mentioned.

On Thursday, the U.N. urged the United States to reverse the sanctions towards Albanese, together with sanctions towards judges of the International Criminal Court, with U.N. chief Antonio Guterres’s spokesman calling the transfer “a dangerous precedent.”

On Friday, the European Union additionally spoke out towards the sanctions dealing with Albanese, including that it “strongly supports the United Nations human rights system.”

Albanese, who assumed her mandate in 2022, launched a damning report this month denouncing firms – a lot of them American – that she mentioned “profited from the Israeli economy of illegal occupation, apartheid, and now genocide” within the occupied Palestinian territories.

The report provoked a livid Israeli response, whereas a few of the firms additionally raised objections.

Washington final month slapped sanctions on 4 ICC judges, partially over the courtroom’s arrest warrant for Israeli Prime Minister Benjamin Netanyahu, barring them from the United States.

U.N. particular rapporteurs like Albanese are unbiased specialists, who’re appointed by the U.N. human rights council, however don’t converse on behalf of the United Nations.

Hamas’ Oct. 7, 2023, incursion triggered the conflict, inflicting 1,219 deaths and taking 251 hostages, largely civilians, in line with Israeli official figures.

Israel’s genocidal conflict, compared, has killed over 57,800 folks in Gaza, largely ladies and kids, in line with the Health Ministry, displaced virtually the complete inhabitants of greater than 2 million folks, sparked a humanitarian disaster within the enclave and left a lot of the territory in ruins.

Israel has occupied the West Bank since 1967 and violence has surged within the territory since October 2023.

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Türkiye’s budget deficit nears $24.5 billion in H1

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Türkiye’s central authorities funds recorded a deficit of TL 330.2 billion ($8.2 billion) in June, bringing the cumulative shortfall for the primary half of 2025 to TL 980.5 billion, official information confirmed on Wednesday.

According to figures launched by the Treasury and Finance Ministry, funds revenues in June rose by 53.8% year-over-year to TL 909.4 billion, whereas expenditures elevated by 43.1% to TL 1.24 trillion.

Over the January-June interval, funds revenues climbed 46.1% yearly to succeed in TL 5.6 trillion, whereas expenditures rose 43.7% to TL 6.58 trillion.

This signifies that 44.7% of the TL 14.73 trillion whole spending allowance projected within the 2025 central authorities funds has already been used within the first six months of the 12 months.

Interest funds in June elevated by 177.7% in comparison with the identical month final 12 months, reaching nearly TL 275.7 billion. For the primary half of the 12 months, curiosity bills rose by 93.5%, totaling TL 1.1 trillion.

The main deficit, which excludes curiosity funds, stood at TL 54.5 billion in June, considerably decrease than the TL 176 billion shortfall recorded in the identical month final 12 months.

For the primary half of the 12 months, Türkiye registered a main surplus of TL 131 billion.

Primary expenditures for June rose 25.6% year-over-year to TL 963.9 billion, whereas they grew 36.5% to just about TL 5.47 billion within the first six months.

The funds deficit surged to a report TL 2.11 trillion in 2024, pushed by excessive inflation and will increase in spending as a consequence of election-related expenditures and the aftermath of the devastating February 2023 earthquakes.

The authorities tasks a discount within the hole to round 3% of gross home product (GDP) for 2025 from about 4.9% in 2024, citing anticipated decreases in quake-related spending.

Türkiye maintained a funds hole to GDP ratio of round 1% from 2013 to 2016, supported by low public debt. However, the shortfall steadily expanded, reaching 3.5% of GDP in 2020 and ending 2021 at 2.8%. It got here in under 1% in 2022, in comparison with the three.5% goal.

In 2023, escalating quake-related expenditures pushed the deficit to roughly 5.4% of GDP.

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Türkiye’s budget deficit nears $25 billion in H1

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Türkiye’s central authorities finances recorded a deficit of TL 330.2 billion ($8.2 billion) in June, bringing the cumulative shortfall for the primary half of 2025 to TL 980.5 billion, official knowledge confirmed on Wednesday.

According to figures launched by the Treasury and Finance Ministry, finances revenues in June rose by 53.8% year-over-year to TL 909.4 billion, whereas expenditures elevated by 43.1% to TL 1.24 trillion.

Over the January-June interval, finances revenues climbed 46.1% yearly to succeed in TL 5.6 trillion, whereas expenditures rose 43.7% to TL 6.58 trillion.

This signifies that 44.7% of the TL 14.73 trillion whole spending allowance projected within the 2025 central authorities finances has already been used within the first six months of the 12 months.

Interest funds in June elevated by 177.7% in comparison with the identical month final 12 months, reaching nearly TL 275.7 billion. For the primary half of the 12 months, curiosity bills rose by 93.5%, totaling TL 1.1 trillion.

The major deficit, which excludes curiosity funds, stood at TL 54.5 billion in June, considerably decrease than the TL 176 billion shortfall recorded in the identical month final 12 months.

For the primary half of the 12 months, Türkiye registered a major surplus of TL 131 billion.

Primary expenditures for June rose 25.6% year-over-year to TL 963.9 billion, whereas they grew 36.5% to almost TL 5.47 billion within the first six months.

The finances deficit surged to a document TL 2.11 trillion in 2024, pushed by excessive inflation and will increase in spending as a consequence of election-related expenditures and the aftermath of the devastating February 2023 earthquakes.

The authorities tasks a discount within the hole to round 3% of gross home product (GDP) for 2025 from about 4.9% in 2024, citing anticipated decreases in quake-related spending.

Türkiye maintained a finances hole to GDP ratio of round 1% from 2013 to 2016, supported by low public debt. However, the shortfall steadily expanded, reaching 3.5% of GDP in 2020 and ending 2021 at 2.8%. It got here in under 1% in 2022, in comparison with the three.5% goal.

In 2023, escalating quake-related expenditures pushed the deficit to roughly 5.4% of GDP.

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Ukraines parliament votes to dismiss prime minister in wartime reshuffle

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The Ukrainian parliament voted to dismiss Prime Minister Denys Shmyhal on Wednesday, lawmakers mentioned, a part of a authorities overhaul geared toward strengthening wartime financial and army administration.

The transfer successfully dissolves the cupboard, and lawmakers are anticipated to approve new members on Thursday. First Deputy Prime Minister Yulia Svyrydenko, tapped by President Volodymyr Zelenskiy this week, is the one candidate to chair the brand new authorities.

Source: www.anews.com.tr

Türkiye-UK Islamic finance co-op gathers pace with new MoU signed

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In a world grappling with financial volatility and uncertainty, lingering inflation and the rising value of capital, another monetary system grounded in ethics and risk-sharing is attracting renewed consideration.

Islamic finance – a system that prohibits curiosity, discourages hypothesis and calls for actual asset backing – is seeing a worldwide resurgence. Two international locations, Türkiye and the U.Okay., consider they’re ideally positioned to guide the cost, in response to a report launched on Wednesday.

Treasury and Finance Minister Mehmet Şimşek just lately described Islamic finance as “structurally better equipped to address uncertainty and ambiguity,” noting that its core ideas make it extra steady in occasions of world monetary stress.

“Islamic finance tends to be, relative to its conventional peers, more resilient,” Şimşek mentioned. “It provides you with more stability and liquidity as a part of risk sharing. This is the essence in terms of your profit and loss arrangements.”

Şimşek was a part of a high-level Turkish delegation visiting London final week to attend the U.Okay.-Türkiye Islamic Finance Forum. The discussion board was hosted by the U.Okay. Department for Business and Trade in cooperation with the Participation Banks Association of Türkiye (TKBB).

On this event, TKBB and the U.Okay. Export Finance (UKEF) signed a Memorandum of Understanding (MoU) aimed toward strengthening cooperation in Islamic finance.

‘Deeper collaboration’

Speaking to Anadolu Agency (AA), Mehmet Ali Akben, chairperson of TKBB and normal supervisor of Vakif Katılım Bank, highlighted the potential advantages of the deal for each international locations.

“The share of participation finance in Türkiye’s banking sector is currently around 8%. Our initial goal is to increase this to 15%,” he mentioned to AA final week.

Akben famous that London stays a significant world monetary hub and identified that Türkiye has developed its personal monetary heart in Istanbul.

“We attach great importance to mutual cooperation in this context. We believe that this MoU will enable deeper collaboration between the two countries in trade and export finance, education and alignment with international standards. We also believe that Islamic finance will become more accessible to a broader audience in Türkiye as a result,” he added.

While the sector nonetheless represents a modest share of world finance – round 1% of whole belongings – Şimşek identified that Islamic finance has expanded elevenfold because the yr 2000.

In Türkiye, its footprint is bigger than the worldwide common, making up 8% of banking belongings and over 12% of the capital markets, he additionally famous.

London sees long-term function

Across the Channel, U.Okay. commerce officers say the moral foundation of Islamic finance is interesting not simply to Muslims, however to a broader group of buyers in search of to align their cash with their values.

“There are lots of people from around the world who are taking great interest in the values that are underlying their investments,” mentioned Ben Aldred, deputy commissioner of Trade for Eastern Europe and Central Asia on the U.Okay.’s Department for Business and Trade.

“This is not just a new thing for the U.K.. This is something that we’ve been doing for at least a decade,” he instructed AA, in response to remarks revealed on Wednesday.

London, one of many world’s most vital monetary facilities, has hosted a number of Turkish authorities Sukuk (Islamic bond) issuances.

Aldred mentioned he hopes to see much more Turkish establishments utilizing London as a base to faucet world capital in a Shariah-compliant means.

“We’re hoping that there will be more issuances from Turkish financial institutions out of London,” he added. “It makes economic sense to do so and we’re really seeing that momentum now,” he famous.

For Islamic finance to go mainstream, nevertheless, markets want liquidity, mentioned Hugh de Lusignan, head of economic companies on the U.Okay. Department for Business and Trade.

“We think it’s important to create what’s called the yield curve,” he mentioned, referring to the necessity for normal bond issuance that makes pricing extra clear and predictable. “That makes it easier for people to invest.”

He pointed to a current Sukuk issuance by the Türkiye Wealth Fund (TWF) as an indication of sturdy worldwide urge for food.

“The proven fact that it was so oversubscribed proves that there is a massive worldwide marketplace for all these points, despite the fact that the circumstances would possibly look tough.”

TWF, the asset-backed growth fund of Türkiye, marked its landmark $750 million Sukuk issuance in October 2024 throughout a Market Open Ceremony on the London Stock Exchange (LSE).

The Sukuk issuance, with a return fee of 6.95%, was oversubscribed by 14 occasions, setting a report within the historical past of Sukuk issuances.

Following the success, TWF executed a re-tap Sukuk issuance in January 2025, growing the entire dimension to $1 billion.

Türkiye’s gateway function

For the U.Okay., Türkiye is greater than only a companion – it is a bridge. Positioned between Europe, the Middle East and Central Asia, Ankara is seen as a strategic hub for the unfold of Islamic finance.

“Türkiye is in exactly the right position,” de Lusignan mentioned. “There’s a lot of growth in that area from countries that are interested in expanding Islamic finance opportunities … and the banks are thinking internationally.”

The world Sukuk market is on track to exceed $1 trillion in excellent volumes in 2025, in response to Fitch Ratings.

Sukuk are anticipated to stay a key part of the debt capital markets (DCM) throughout quite a few Organization of Islamic Cooperation (OIC) international locations and can proceed to play a major function in rising markets (EM).

In 2024, Sukuk accounted for 12% of all EM U.S. greenback debt issuance, excluding China, underlining their growing world relevance.

Sukuk have been 25% of whole greenback DCM issuance within the core markets of the Gulf Cooperation Council (GCC) international locations, Malaysia, Indonesia, Türkiye and Pakistan.

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Galatasaray, Napoli hit boiling point in Osimhen transfer talks

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The way forward for Victor Osimhen hangs within the stability as Galatasaray and Napoli head into what might be the decisive spherical of talks to safe the Nigerian striker’s everlasting transfer to Istanbul.

The Super Eagle, who grew to become a cult hero throughout his mortgage spell final season, has made his intentions clear: he desires to remain.

But Napoli’s monetary calls for and hardline stance are pushing the deal to the brink.

Osimhen, 26, fired Galatasaray to a home double final season, netting 37 objectives and offering eight assists in 41 matches.

He has advised Napoli he has little interest in becoming a member of one other membership and is livid at what he calls deliberate obstruction. “Enough is enough. I want Galatasaray,” he reportedly advised the Italian facet. “What’s your problem with me?”

Despite Galatasaray’s 70 million euros ($81.4 million) bid, Napoli president Aurelio De Laurentiis has held agency, refusing to budge from the 75 million euros launch clause.

Napoli desires 50 million euros paid upfront and the remaining 25 million euros by 2026.

Galatasaray, constrained by Financial Fair Play guidelines, prefers an extended installment plan – 40 million euros upfront and 35 million euros unfold till 2027.

Napoli has additionally demanded a 20% sell-on clause and a three-year ban on promoting Osimhen to a different Serie A membership – circumstances Galatasaray is reportedly prepared to satisfy.

‘Let Osimhen go’

Osimhen, annoyed by the impasse, has skipped Napoli’s pre-season camp, citing a medical exemption.

His shut pal Buchi Laba publicly accused Napoli of “deliberately frustrating and wearing him down,” echoing issues that the membership is stalling the switch out of spite moderately than technique.

Tensions flared additional when Football Italia claimed that Napoli Vice President Edoardo De Laurentiis acquired threats from people allegedly linked to the Turkish Mafia.

A Turkish journalist allegedly printed WhatsApp messages saying, “Let Osimhen go or you are finished.” While Galatasaray has distanced itself from the incident, the episode has added volatility to an already fiery negotiation.

A key impediment stays monetary assurances.

Galatasaray declare to have secured funds from a 500 million euro deal involving the sale of their coaching floor to the City of Istanbul, however Napoli have denied receiving any financial institution assure.

A membership official talking to SABAH Spor stated no monetary proof has been offered, regardless of ongoing talks.

Meanwhile, Saudi membership Al-Hilal stays within the wings with a 75 million euros supply structured over two funds.

However, Osimhen has rejected their advances a number of instances, unwilling to commerce Champions League soccer for the Saudi Pro League.

Premier League giants, together with Liverpool, Manchester United, and Arsenal, have additionally been linked however stay on the sidelines with out formal bids.

Napoli’s resolve is rooted in long-term planning.

With Romelu Lukaku already signed and Darwin Nunez on their radar, Osimhen now not matches into Antonio Conte’s imaginative and prescient.

But along with his contract prolonged till 2026 – plus an choice for 2027 – Napoli holds leverage and desires to extract most worth.

Today’s assembly is being described as pivotal. Galatasaray is predicted to submit a revised supply nearer to Napoli’s 75 million euro demand. The Italian membership has set a agency deadline of July 19 to obtain a full monetary assure, or shift focus to Al-Hilal’s supply.

Osimhen has already agreed to private phrases with Galatasaray: a three-year deal price 16 million euros yearly.

But except the 2 golf equipment discover widespread floor inside days, the summer time’s most dramatic switch saga may take yet one more sudden flip.

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Japan discards $1.6 billion worth of COVID-19 medicine: Report

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Japan’s well being ministry on Wednesday revealed that it discarded roughly 240 billion yen (round $1.6 billion) value of COVID-19 oral medicines within the fiscal 12 months ending March, after the medicine handed their expiration dates, in accordance with Kyodo News Agency.

The medicines — sufficient to deal with roughly 2.5 million folks — have been bought on the top of the pandemic and distributed freed from cost to hospitals and clinics throughout the nation.

However, many doses remained unused following the federal government’s determination in May 2023 to downgrade COVID-19 to the identical class as seasonal influenza, shifting the price burden to sufferers.

According to the Ministry of Health, Labor and Welfare, the discarded inventory included 1.75 million doses of Pfizer’s nirmatrelvir and 780,000 doses of Merck’s molnupiravir.

The authorities additionally bought 2 million doses of Shionogi & Co.’s ensitrelvir, however about 1.77 million stay unused. The report mentioned these are additionally anticipated to be discarded as soon as they expire.

More than 70 million folks in Japan are estimated to have contracted COVID-19 as of March 2024, whereas the nation reported round 132,000 deaths as of final August.

Source: www.anews.com.tr

Experts warn Russia may use 50-day ultimatum to weaken Ukraine

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President Donald Trump’s 50-day ultimatum for Russia to just accept a Ukraine peace deal or face harsh power sanctions has successfully given Moscow extra time to press forward with its summer time offensive.

The dogged Ukrainian resistance, nonetheless, makes it unlikely that the Russian navy will make any fast features.

President Vladimir Putin has declared repeatedly that any peace deal ought to see Ukraine withdraw from the 4 areas that Russia illegally annexed in September 2022 however by no means absolutely captured. He additionally desires Ukraine to resign its bid to affix NATO and settle for strict limits on its armed forces – calls for Kyiv and its Western allies have rejected.

A persistent scarcity of manpower and ammunition has pressured Ukrainian forces to concentrate on holding floor slightly than launching counteroffensives.

But regardless of a renewed Russian push – and an onslaught of aerial assaults on Kyiv and different cities in latest weeks – Ukrainian officers and analysts say it stays unlikely that Moscow can obtain any territorial breakthrough vital sufficient in 50 days to power Ukraine into accepting the Kremlin’s phrases anytime quickly.

Since spring, Russian troops have accelerated their land features, capturing probably the most territory in japanese Ukraine for the reason that opening phases of Moscow’s full-scale invasion in 2022.

Russian forces are closing in on the japanese strongholds of Pokrovsk and Kostyantynivka within the Donetsk area, methodically capturing villages close to each cities to attempt to lower key provide routes and envelop their defenders – a gradual offensive that has unfolded for months.

Capturing these strongholds would enable Russia to push towards Slovyansk and Kramatorsk, setting the stage for the seizure of your complete Donetsk area.

If Russian troops seize these final strongholds, it could open the way in which for them to forge westward to the Dnipropetrovsk area. The regional capital of Dnipro, a significant industrial hub of almost 1 million, is about 150 kilometers (simply over 90 miles) west of Russian positions.

A Ukrainian artilleryman fires a M109 Paladin self-propelled howitzer towards Russian troops, close to Kostiantynivka in Donetsk area, Ukraine, July 5, 2025. (Reuters Photo)

The unfold of combating to Dnipropetrovsk may injury Ukrainian morale and provides the Kremlin extra leverage in any negotiations.

In the neighboring Luhansk area, Ukrainian troops management a small sliver of land, however Moscow has not appeared to prioritize its seize.

The different two Moscow-annexed areas – Kherson and Zaporizhzhia – appear removed from being completely overtaken by Russia.

Early within the warfare, Russia rapidly overran the Kherson area however was pushed again by Ukrainian forces from massive swaths of it in November 2022 and retreated to the japanese financial institution of the Dnieper River.

A brand new try to cross the waterway to grab the remainder of the area would contain large challenges, and Moscow doesn’t appear to have the aptitude to mount such an operation.

Fully capturing the Zaporizhzhia area seems equally difficult.

Moscow’s forces captured a number of villages in northeastern Ukraine’s Sumy area after reclaiming chunks of Russia’s Kursk area from Ukrainian troops who staged a shock incursion in August 2024.

Ukraine says its forces have stopped Russia’s offensive and keep a presence on the perimeter of the Kursk area, the place they’re nonetheless tying down as many as 10,000 Russian troops.

Putin just lately described the offensive into the Sumy area as a part of efforts to carve a “buffer zone” to guard Russian territory from Ukrainian assaults.

The regional capital of Sumy, a metropolis of 268,000, is about 30 kilometers from the border. Putin stated Moscow doesn’t plan to seize town for now, however doesn’t exclude it.

Military analysts, nonetheless, say Russian forces within the space clearly lack the power to seize it.

Russian forces even have pushed an offensive within the neighboring Kharkiv area, however they have not made a lot progress in opposition to fierce Ukrainian resistance.

Some commentators say Russia could hope to make use of its features within the Sumy and Kharkiv areas as bargaining chips in negotiations, buying and selling them for components of the Donetsk area beneath Ukrainian management.

“A scenario of territorial swaps as part of the talks is quite realistic,” stated Mikhail Karyagin, a Kremlin-friendly political skilled, in a commentary.

Ukrainian commanders say the size and tempo of Russian operations recommend that any game-changing features are out of attain, with Moscow’s troops advancing slowly at an amazing value to its personal forces.

While exhausted Ukrainian forces are feeling outnumbered and outgunned, they’re counting on drones to stymie Moscow’s gradual offensive.

Ukrainian soldiers take part in a training exercise operated by Britain's armed forces as part of the Interflex programme, in eastern England, June 17, 2025. (AFP Photo)

Ukrainian troopers participate in a coaching train operated by Britain’s armed forces as a part of the Interflex programme, in japanese England, June 17, 2025. (AFP Photo)

Significant actions of troops and weapons are simply noticed by drones which are so prolific that either side use them to trace and assault even particular person troopers inside minutes.

Russian navy commentators acknowledge that Ukraine’s drone proficiency makes any fast features by Moscow unlikely. They say Russia goals to bleed Ukraine dry with a technique of “a thousand cuts,” utilizing relentless strain on many sectors of the entrance and steadily growing long-range aerial assaults in opposition to key infrastructure.

“The Russian army aims to exhaust the enemy to such an extent that it will not be able to hold the defense, and make multiple advances merge into one or several successes on a strategic scale that will determine the outcome of the war,” Moscow-based navy analyst Sergei Poletayev wrote in an evaluation. “It’s not that important where and at what speed to advance: the target is not the capture of this or that line; the target is the enemy army as such.”

Ukrainian troops on the entrance categorical exasperation and anger about delays and uncertainty about U.S. weapons shipments.

Delays in U.S. navy help have pressured Kyiv’s troops to ration ammunition and cut back operations as Russia intensifies its assaults, Ukrainian troopers in japanese Ukraine instructed The Associated Press.

The United States will promote weapons to its NATO allies in Europe to allow them to present them to Ukraine, based on Trump and U.S. Secretary of State Marco Rubio. Included are Patriot air protection methods, a prime precedence for Ukraine.

Speeded-up weapons shipments from European allies are essential to permitting Ukraine to stem the Russian assaults, based on analysts.

“The rate of Russian advance is accelerating, and Russia’s summer offensive is likely to put the armed forces of Ukraine under intense pressure,” Jack Watling of the Royal United Services Institute in London stated in a commentary.

But many of the capabilities that Ukraine wants – from drones to artillery methods – might be offered by NATO allies in Europe, he stated.

“In the short term, Europe can cover most of Ukraine’s needs so long as it can purchase some critical weapons types from the U.S.,” Watling stated.

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Fed’s fears start to be realized as tariff costs begin to hit consumers

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A broad rise in costs, from espresso and audio gear to dwelling furnishings, pushed U.S. inflation larger in June, which economists view as an indication that the Trump administration’s escalating import tariffs are being handed on to customers.

Overall shopper costs rose 0.3% in June, a roughly 3.5% annual charge, after a 0.1% improve in May, official knowledge confirmed on Tuesday.

Economists – and Federal Reserve (Fed) officers – say they have been anticipating inflation to assemble tempo this summer season because the lagged influence of tariffs will get handed alongside by companies, and the June knowledge recommend central financial institution policymakers specifically might stay reluctant to chop rates of interest till extra data is at hand.

The tariff worth shock may finally show a short lived, one-time adjustment. But with the ultimate tariff ranges nonetheless being thought of by President Donald Trump, and steeper levies threatened as of Aug. 1, the inflation outlook stays unsettled.

The newest knowledge “showed that tariffs are beginning to bite,” mentioned Omair Sharif, head of Inflation Insights, “apparel prices rose, household furnishing prices jumped … and recreation commodities increased.”

Those are closely imported objects and the will increase have been substantial.

Prices for audio-video gear rose 1.1% over the month and have risen 11.1% on a year-over-year foundation, the biggest bounce ever in a class the place globalization had usually meant regular or falling costs.

It will probably strike a word of warning for the Fed, which has been dealing with virtually every day criticism from Trump for not reducing rates of interest, a step central bankers have been reluctant to take till it’s clear the place the tariffs will go away the U.S. economic system.

Yields on U.S. Treasury securities rose to their highest in a couple of month, and rate of interest futures mirrored rising uncertainty that the Fed would resume charge cuts in September, with a mannequin from CME Group displaying that call was seen as a close to toss-up after being the baseline expectation for the previous month or so.

In a speech in Washington on Tuesday, Federal Reserve Bank of Boston President Susan Collins warned that she continues to count on the rise in import taxes to push up inflation whereas pushing down development and employment. But she added that sturdy stability sheets on each the business and family sides might assist take in the hit and reduce its influence.

“The impact of tariffs may be lessened somewhat by an ability for firms to decrease profit margins and for consumers to continue spending, despite higher prices. As a result, the adverse impact of tariffs on labor market conditions and economic growth may be more limited,” Collins mentioned.

Trump on social media mentioned that shopper costs have been “LOW” and repeated his name for the Fed to chop charges. The shopper worth degree was about 1.2% larger in June in comparison with December, the final full month earlier than Trump began his second time period.

White House Press Secretary Karoline Leavitt mentioned the truth that core inflation, which excludes meals and power costs, elevated lower than anticipated, “proves that President Trump is stabilizing inflation.”

Core inflation elevated at a 2.9% annual charge in June, barely beneath the three% consensus forecast, however barely sooner than in May. Food and power prices each elevated, pushing headline inflation as much as 2.7% from 2.4% the month earlier than.

“With increases in categories like household furnishings, recreation, and apparel, import levies are slowly filtering through,” wrote Seema Shah, Chief Global Strategist at Principal Asset Management. “It would be wise for the Fed to remain on the sidelines for a few more months at least.”

Investors nonetheless count on the Fed in September to chop 1 / 4 of a proportion level from the present 4.25% to 4.5% benchmark rate of interest maintained since December, however odds of a minimize on the upcoming July 29-30 assembly are actually beneath 5%.

Powell had earlier pinpointed this summer season because the time when the U.S. central financial institution will study if inflation is responding to the tariffs utilized on buying and selling companions and varied industrial sectors.

So far, the levies have had solely a restricted influence on inflation, however economists broadly have anticipated to see them finally filter into retail costs.

“We know there is a lag between implementation and the inflationary effect,” mentioned Gregory Daco, chief economist at EY-Parthenon. “Businesses manage imports using different processes … We have not seen the full-blown effects of tariffs on CPI data … I would expect to start to see more.”

Clawing again tariff prices

The June CPI knowledge will probably go away the Personal Consumption Expenditures Price Index the Fed makes use of for its 2% inflation goal nicely above that purpose, with elevated uncertainty now that Trump has threatened tariff ranges of 30% or extra on Mexico, Canada and the European Union, and extra actions are all the time doable.

The PCE index outdoors meals and power rose at a 2.7% annual charge in May; latest Fed policymaker projections see it hitting 3.1% by the tip of 2025; and the newest spherical of tariffs threatened by Trump for Aug. 1 may push it even larger.

The new tariff charges, “if fully passed through, would add about 0.4 percentage points to the PCE price level,” Michael Feroli, chief U.S. economist at JPMorgan, estimated. “Given imperfect pass-through, margin compression, a more likely estimate is 0.2-0.3 points. We think this bolsters the case for the Fed to take a very cautious approach to rate cuts.”

Daco mentioned there was already “divergence” starting throughout a large swath of products the place costs are rising sooner than they did earlier than Trump’s preliminary rounds of tariffs.

The worth of family furnishings, for instance, jumped a full proportion level in June. Prices of these merchandise had been dropping, however reversed course within the spring.

Other economists have pinpointed totally different objects that might present the place the brand new import taxes are beginning to hit shopper costs.

Sharif, the top of Inflation Insights, mentioned the broad class known as “recreational commodities,” which incorporates issues like toys and audio and visible gear which are usually imported from China, bears watching – and rose 0.8% in June, twice as quick as within the previous two months.

Outdoor gear and instruments are additionally objects which are closely imported, and whereas the tempo of worth will increase had picked up within the spring, it fell again in June to 0.2% versus 0.6% in May.

Still, “tariff costs are strikingly visible in June’s CPI data,” wrote Samuel Tombs, chief U.S. economist for Pantheon Macroeconomics. Excluding autos, costs for different non-food or power items rose on the quickest tempo since June 2022, when the Fed was nonetheless in a battle to decrease pandemic-era inflation.

“Prices rose especially sharply for goods which are primarily imported,” with costs for home equipment, sports activities gear and toys all rising practically 2% on the month, he mentioned.

Source: www.dailysabah.com