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Category: Russian Federation

  • MIL-OSI Russia: How Nigeria Can Unleash its Economic Potential

    Source: IMF – News in Russian

    By Axel Schimmelpfennig and Christian Ebeke

    July 7, 2025

    Increasing revenues, establishing an effective budget framework, and scaling up the cash transfer system can all support Nigeria’s progress

    Over the past two years, Nigeria—Africa’s most populous country—has implemented difficult reforms to tackle long-standing obstacles weighing on the economy. While the reforms are starting to show results, poverty and food insecurity remain high, and the uncertain global environment presents additional challenges. As discussed in our latest annual economic health check of the West African nation, the right policies can help Nigeria realize its potential as an African and global economic powerhouse. 

    A difficult starting point

    Upon taking office in 2023, the new government faced low growth and rising poverty. Between 2014 and 2023, real per capita GDP declined on average by 0.7 percent annually. In 2023, the poverty rate stood at 42 percent. This difficult situation was compounded by limited access to dollars, which meant that people had to turn to the parallel currency market and thereby pay a much higher price than the official rate. In the meantime, public finances were strained by an opaque fuel subsidy system, which also caused recurrent petrol scarcity. And central bank financing of the fiscal deficit pushed up inflation.

    In response to these challenges, Nigerian policymakers have embarked on a series of bold reforms over the last two years. In 2023 the new government and the Central Bank of Nigeria liberalized the foreign exchange market, stopped central bank financing of the fiscal deficit, and reformed fuel subsidies. The government also strengthened revenue collection, which is still one of the world’s weakest.

    Since these reforms were implemented, international reserves have increased, and anyone can now access foreign exchange in the official market. Nigeria successfully returned to international capital markets last December and was recently upgraded by rating agencies. A new domestic, private refinery is positioning Nigeria up the value chain in a fully deregulated market.

    The work continues

    While progress has been encouraging, significant challenges remain. Inflation still exceeds 20 percent. Poor infrastructure, especially for electricity, inhibits economic activity. Poverty and food insecurity remain high. Nigeria lacks an effective social safety net to cushion the impact of shocks on the most vulnerable. 

    In addition, the global environment is posing new challenges with elevated uncertainty and high borrowing costs. Nigeria is especially affected by volatile international oil prices since oil revenues account for a large proportion of government revenues—a figure that stood at 30 percent in 2024.

    Policy priorities

    To address these challenges, Nigeria should focus on three key priorities:

    First, the country needs stronger and more sustained growth to lift millions of people out of poverty and food insecurity, which is what the authorities are focusing on. This does not happen overnight. In the meantime, making growth more inclusive also requires scaling up the existing cash transfer system.

    Second, as an essential ingredient for economic development, Nigeria needs an effective budget framework. Delivering effective investments in people and infrastructure requires realistic budget assumptions, strong expenditure management, and transparent implementation and reporting—which, in turn, can strengthen accountability. For its part, monetary policy should continue to decisively tackle inflation and reduce economic uncertainty.

    Third, the government should continue to increase domestic revenues. This is essential given Nigeria’s substantial funding needs in growth-enabling areas such as agriculture, infrastructure, including access to electricity, and climate adaptation. The government’s tax reforms will make it easier to pay taxes and ensure that everyone who owes taxes pays them. Over time, once the ongoing cost-of-living crisis abates and the cash transfer system is fully operational, there will be room to align tax rates with those in neighboring countries. For now, the share of revenue that goes to interest spending leaves too little for investment in people and infrastructure. It is therefore critical that the substantial financial savings from the removal of fuel subsidies flow to the government to fund priority spending.

    Nigeria’s potential is beyond doubt but achieving it will require continued reforms and an effective social safety net to carry the most vulnerable along.

    ****

    Axel Schimmelpfennig is the IMF’s mission chief to Nigeria and an assistant director in the IMF’s African Department. Christian Ebeke is the IMF’s resident representative in Nigeria.

    This article is based on the Staff Report for the 2025 Article IV Consultation with Nigeria.

    https://www.imf.org/en/News/Articles/2025/07/07/cf-how-nigeria-can-unleash-its-economic-potential

    MIL OSI

    MIL OSI Russia News –

  • Sabalenka stands tall, Norrie survives to reach Wimbledon quarter-finals

    Source: Government of India

    Source: Government of India (4)

    Women’s top seed Aryna Sabalenka and men’s defending champion Carlos Alcaraz both survived tough tests to reach the Wimbledon quarter-finals and Cameron Norrie kept alive British singles hopes after surviving a five-set thriller on Sunday.

    Sabalenka ruined home favourite Emma Raducanu’s dream in the previous round but had the Centre Court crowd cheering her on as she beat Elise Mertens 6-4 7-6(4) in a high-quality duel.

    Wimbledon’s new automated line-calling technology came under fire after an embarrassing malfunction robbed Anastasia Pavlyuchenkova of a point during her last-16 victory over Britain’s Sonay Kartal on Centre Court.

    Spaniard Alcaraz came through a ferocious firefight against Russian 14th seed Andrey Rublev 6-7(5) 6-3 6-4 6-4 to stay on course for a third successive title.

    “Andrey is one of the most powerful players we have on Tour and is so aggressive with the ball. He forces you to the limit on each point,” Alcaraz, bidding to become only the fourth man to win back-to-back French Open and Wimbledon titles multiple times, said on court.

    The 22-year-old second seed extended his current winning streak to 22 matches and will take on Norrie for a place in the semi-finals after the unseeded Briton soaked up 46 aces from towering Chilean Nicolas Jarry to win a feisty Court One battle 6-3 7-6(4) 6-7(7) 6-7(5) 6-3.

    While Alcaraz seeks a Wimbledon hat-trick, Sabalenka is eyeing her first title on the London lawns after missing last year’s tournament with injury and the 2022 edition due to the ban on Russian and Belarusian players, and the 27-year-old made a fast start against Mertens.

    Sabalenka, who claimed doubles titles at the U.S. Open and Australian Open partnering Mertens, was then put through the wringer before raising her level to prevail.

    The victory improved her win-loss record against Belgian Mertens to 11-2 and she said the growing adoration of the crowd made a big difference after fans were on the other side of the fence when she met Raducanu on Friday.

    “I definitely felt the support. It was so amazing playing and feeling the support. I didn’t have to pretend that they were cheering for me because they were really cheering for me,” said Sabalenka, who will face the 37-year-old German Laura Siegemund in the quarter-finals.

    “What can be better than that? I really enjoyed it. I hope it can stay the same all the way, and they help me energy-wise to stay strong and to face all of the challenges.”

    HEAVY SHOWERS

    Siegemund, the second-oldest player to start in the women’s draw this year, swatted aside plucky Argentine lucky loser Solana Sierra with a 6-3 6-2 victory in a Court Two match interrupted by the heavy showers that prompted organisers to shut the roofs for the day’s play on Centre Court and Court One.

    While Sierra was the first lucky loser to reach the last 16 in the professional era, Siegemund created her own slice of history by becoming the oldest woman to reach her first Wimbledon quarter-final.

    Explaining her run, Siegemund said it was simple.

    “It’s like you have an opponent. Either you find good solutions and you execute well, you go forward, or you don’t, and you don’t go forward. So it’s very simple,” she said.

    Sierra’s fellow South American, Jarry, fought back brilliantly against Norrie after saving a match point in the third-set tiebreak but fell short in a needle match.

    Jarry seemed irritated at times during the heat of battle and the players exchanged words at the end.

    “Cameron played unbelievable. Not unbelievable, played great. He did his job. He plays like that,” said qualifier Jarry, whose total ace count reached a tournament-leading 111.

    Asked what happened, Norrie said there had been no problem.

    “I think he just said I was being a little bit too vocal,” he said. “Honestly, nothing but credit to Nico for his performance. I guess we both really wanted to win.”

    Norrie, a 2022 semi-finalist, is the last British hope after the unseeded Kartal’s run ended with a 7-6(3) 6-4 defeat by experienced Russian Pavlyuchenkova.

    The big talking point in that match was the malfunction of the Electronic Line Calling system, which left the Russian former French Open runner-up seething after being robbed of a game point at 4-4 in the opening set when there was no ‘out’ call despite a Kartal shot landing over the baseline.

    Umpire Nico Helwerth sought advice from tournament organisers via telephone and then ruled that the point should be replayed, with Pavlyuchenkova going on to have her serve broken.

    “We were waiting for a decision as the system was down, but I was expecting to hear if they said the ball was in or out,” she said. “I expected a different decision. I just thought also the chair umpire could take the initiative.

    “That’s why he’s there sitting on the chair. He also saw it (was) out, he told me after the match. I thought he would do that, but he didn’t. I think it’s also difficult for him. He probably was scared to take such a big decision.”

    Organisers said it had been caused by the system being ‘deactivated in error’.

    American fifth seed Taylor Fritz marched on after his Australian opponent Jordan Thompson retired with a thigh injury at 6-1 3-0 down in their fourth-round meeting.

    Up next for Fritz is a meeting with Russian 17th seed Karen Khachanov who thumped Poland’s Kamil Majchrzak 6-4 6-2 6-3.

    Fritz is not the only American to reach the quarter-finals, after 13th seed Amanda Anisimova beat Linda Noskova 6-2 5-7 6-4 in the day’s final action.

    (Reuters)

  • Sabalenka stands tall, Norrie survives to reach Wimbledon quarter-finals

    Source: Government of India

    Source: Government of India (4)

    Women’s top seed Aryna Sabalenka and men’s defending champion Carlos Alcaraz both survived tough tests to reach the Wimbledon quarter-finals and Cameron Norrie kept alive British singles hopes after surviving a five-set thriller on Sunday.

    Sabalenka ruined home favourite Emma Raducanu’s dream in the previous round but had the Centre Court crowd cheering her on as she beat Elise Mertens 6-4 7-6(4) in a high-quality duel.

    Wimbledon’s new automated line-calling technology came under fire after an embarrassing malfunction robbed Anastasia Pavlyuchenkova of a point during her last-16 victory over Britain’s Sonay Kartal on Centre Court.

    Spaniard Alcaraz came through a ferocious firefight against Russian 14th seed Andrey Rublev 6-7(5) 6-3 6-4 6-4 to stay on course for a third successive title.

    “Andrey is one of the most powerful players we have on Tour and is so aggressive with the ball. He forces you to the limit on each point,” Alcaraz, bidding to become only the fourth man to win back-to-back French Open and Wimbledon titles multiple times, said on court.

    The 22-year-old second seed extended his current winning streak to 22 matches and will take on Norrie for a place in the semi-finals after the unseeded Briton soaked up 46 aces from towering Chilean Nicolas Jarry to win a feisty Court One battle 6-3 7-6(4) 6-7(7) 6-7(5) 6-3.

    While Alcaraz seeks a Wimbledon hat-trick, Sabalenka is eyeing her first title on the London lawns after missing last year’s tournament with injury and the 2022 edition due to the ban on Russian and Belarusian players, and the 27-year-old made a fast start against Mertens.

    Sabalenka, who claimed doubles titles at the U.S. Open and Australian Open partnering Mertens, was then put through the wringer before raising her level to prevail.

    The victory improved her win-loss record against Belgian Mertens to 11-2 and she said the growing adoration of the crowd made a big difference after fans were on the other side of the fence when she met Raducanu on Friday.

    “I definitely felt the support. It was so amazing playing and feeling the support. I didn’t have to pretend that they were cheering for me because they were really cheering for me,” said Sabalenka, who will face the 37-year-old German Laura Siegemund in the quarter-finals.

    “What can be better than that? I really enjoyed it. I hope it can stay the same all the way, and they help me energy-wise to stay strong and to face all of the challenges.”

    HEAVY SHOWERS

    Siegemund, the second-oldest player to start in the women’s draw this year, swatted aside plucky Argentine lucky loser Solana Sierra with a 6-3 6-2 victory in a Court Two match interrupted by the heavy showers that prompted organisers to shut the roofs for the day’s play on Centre Court and Court One.

    While Sierra was the first lucky loser to reach the last 16 in the professional era, Siegemund created her own slice of history by becoming the oldest woman to reach her first Wimbledon quarter-final.

    Explaining her run, Siegemund said it was simple.

    “It’s like you have an opponent. Either you find good solutions and you execute well, you go forward, or you don’t, and you don’t go forward. So it’s very simple,” she said.

    Sierra’s fellow South American, Jarry, fought back brilliantly against Norrie after saving a match point in the third-set tiebreak but fell short in a needle match.

    Jarry seemed irritated at times during the heat of battle and the players exchanged words at the end.

    “Cameron played unbelievable. Not unbelievable, played great. He did his job. He plays like that,” said qualifier Jarry, whose total ace count reached a tournament-leading 111.

    Asked what happened, Norrie said there had been no problem.

    “I think he just said I was being a little bit too vocal,” he said. “Honestly, nothing but credit to Nico for his performance. I guess we both really wanted to win.”

    Norrie, a 2022 semi-finalist, is the last British hope after the unseeded Kartal’s run ended with a 7-6(3) 6-4 defeat by experienced Russian Pavlyuchenkova.

    The big talking point in that match was the malfunction of the Electronic Line Calling system, which left the Russian former French Open runner-up seething after being robbed of a game point at 4-4 in the opening set when there was no ‘out’ call despite a Kartal shot landing over the baseline.

    Umpire Nico Helwerth sought advice from tournament organisers via telephone and then ruled that the point should be replayed, with Pavlyuchenkova going on to have her serve broken.

    “We were waiting for a decision as the system was down, but I was expecting to hear if they said the ball was in or out,” she said. “I expected a different decision. I just thought also the chair umpire could take the initiative.

    “That’s why he’s there sitting on the chair. He also saw it (was) out, he told me after the match. I thought he would do that, but he didn’t. I think it’s also difficult for him. He probably was scared to take such a big decision.”

    Organisers said it had been caused by the system being ‘deactivated in error’.

    American fifth seed Taylor Fritz marched on after his Australian opponent Jordan Thompson retired with a thigh injury at 6-1 3-0 down in their fourth-round meeting.

    Up next for Fritz is a meeting with Russian 17th seed Karen Khachanov who thumped Poland’s Kamil Majchrzak 6-4 6-2 6-3.

    Fritz is not the only American to reach the quarter-finals, after 13th seed Amanda Anisimova beat Linda Noskova 6-2 5-7 6-4 in the day’s final action.

    (Reuters)

  • Sabalenka stands tall, Norrie survives to reach Wimbledon quarter-finals

    Source: Government of India

    Source: Government of India (4)

    Women’s top seed Aryna Sabalenka and men’s defending champion Carlos Alcaraz both survived tough tests to reach the Wimbledon quarter-finals and Cameron Norrie kept alive British singles hopes after surviving a five-set thriller on Sunday.

    Sabalenka ruined home favourite Emma Raducanu’s dream in the previous round but had the Centre Court crowd cheering her on as she beat Elise Mertens 6-4 7-6(4) in a high-quality duel.

    Wimbledon’s new automated line-calling technology came under fire after an embarrassing malfunction robbed Anastasia Pavlyuchenkova of a point during her last-16 victory over Britain’s Sonay Kartal on Centre Court.

    Spaniard Alcaraz came through a ferocious firefight against Russian 14th seed Andrey Rublev 6-7(5) 6-3 6-4 6-4 to stay on course for a third successive title.

    “Andrey is one of the most powerful players we have on Tour and is so aggressive with the ball. He forces you to the limit on each point,” Alcaraz, bidding to become only the fourth man to win back-to-back French Open and Wimbledon titles multiple times, said on court.

    The 22-year-old second seed extended his current winning streak to 22 matches and will take on Norrie for a place in the semi-finals after the unseeded Briton soaked up 46 aces from towering Chilean Nicolas Jarry to win a feisty Court One battle 6-3 7-6(4) 6-7(7) 6-7(5) 6-3.

    While Alcaraz seeks a Wimbledon hat-trick, Sabalenka is eyeing her first title on the London lawns after missing last year’s tournament with injury and the 2022 edition due to the ban on Russian and Belarusian players, and the 27-year-old made a fast start against Mertens.

    Sabalenka, who claimed doubles titles at the U.S. Open and Australian Open partnering Mertens, was then put through the wringer before raising her level to prevail.

    The victory improved her win-loss record against Belgian Mertens to 11-2 and she said the growing adoration of the crowd made a big difference after fans were on the other side of the fence when she met Raducanu on Friday.

    “I definitely felt the support. It was so amazing playing and feeling the support. I didn’t have to pretend that they were cheering for me because they were really cheering for me,” said Sabalenka, who will face the 37-year-old German Laura Siegemund in the quarter-finals.

    “What can be better than that? I really enjoyed it. I hope it can stay the same all the way, and they help me energy-wise to stay strong and to face all of the challenges.”

    HEAVY SHOWERS

    Siegemund, the second-oldest player to start in the women’s draw this year, swatted aside plucky Argentine lucky loser Solana Sierra with a 6-3 6-2 victory in a Court Two match interrupted by the heavy showers that prompted organisers to shut the roofs for the day’s play on Centre Court and Court One.

    While Sierra was the first lucky loser to reach the last 16 in the professional era, Siegemund created her own slice of history by becoming the oldest woman to reach her first Wimbledon quarter-final.

    Explaining her run, Siegemund said it was simple.

    “It’s like you have an opponent. Either you find good solutions and you execute well, you go forward, or you don’t, and you don’t go forward. So it’s very simple,” she said.

    Sierra’s fellow South American, Jarry, fought back brilliantly against Norrie after saving a match point in the third-set tiebreak but fell short in a needle match.

    Jarry seemed irritated at times during the heat of battle and the players exchanged words at the end.

    “Cameron played unbelievable. Not unbelievable, played great. He did his job. He plays like that,” said qualifier Jarry, whose total ace count reached a tournament-leading 111.

    Asked what happened, Norrie said there had been no problem.

    “I think he just said I was being a little bit too vocal,” he said. “Honestly, nothing but credit to Nico for his performance. I guess we both really wanted to win.”

    Norrie, a 2022 semi-finalist, is the last British hope after the unseeded Kartal’s run ended with a 7-6(3) 6-4 defeat by experienced Russian Pavlyuchenkova.

    The big talking point in that match was the malfunction of the Electronic Line Calling system, which left the Russian former French Open runner-up seething after being robbed of a game point at 4-4 in the opening set when there was no ‘out’ call despite a Kartal shot landing over the baseline.

    Umpire Nico Helwerth sought advice from tournament organisers via telephone and then ruled that the point should be replayed, with Pavlyuchenkova going on to have her serve broken.

    “We were waiting for a decision as the system was down, but I was expecting to hear if they said the ball was in or out,” she said. “I expected a different decision. I just thought also the chair umpire could take the initiative.

    “That’s why he’s there sitting on the chair. He also saw it (was) out, he told me after the match. I thought he would do that, but he didn’t. I think it’s also difficult for him. He probably was scared to take such a big decision.”

    Organisers said it had been caused by the system being ‘deactivated in error’.

    American fifth seed Taylor Fritz marched on after his Australian opponent Jordan Thompson retired with a thigh injury at 6-1 3-0 down in their fourth-round meeting.

    Up next for Fritz is a meeting with Russian 17th seed Karen Khachanov who thumped Poland’s Kamil Majchrzak 6-4 6-2 6-3.

    Fritz is not the only American to reach the quarter-finals, after 13th seed Amanda Anisimova beat Linda Noskova 6-2 5-7 6-4 in the day’s final action.

    (Reuters)

  • MIL-OSI Russia: The Jinshanling section of the Great Wall of China in clouds and fog

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    CHENGDE, Hebei Province, July 6 (Xinhua) — The Jinshanling section of the Great Wall of China in Luanping County of Chengde City, north China’s Hebei Province, was shrouded in clouds and fog on Saturday morning.

    CHENGDE, Hebei Province, July 6 (Xinhua) — The Jinshanling section of the Great Wall of China in Luanping County of Chengde City, north China’s Hebei Province, was shrouded in clouds and fog on Saturday morning.

    CHENGDE, Hebei Province, July 6 (Xinhua) — The Jinshanling section of the Great Wall of China in Luanping County of Chengde City, north China’s Hebei Province, was shrouded in clouds and fog on Saturday morning.

    CHENGDE, Hebei Province, July 6 (Xinhua) — The Jinshanling section of the Great Wall of China in Luanping County of Chengde City, north China’s Hebei Province, was shrouded in clouds and fog on Saturday morning.

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Russian Consul General in Shenyang visited Changchun School of Foreign Languages

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    BEIJING, July 7 (Xinhua) — Consul General of the Russian Federation in Shenyang Natalia Sergeyevna Pryzhkova recently visited the Changchun School of Foreign Languages (CSFL, Jilin Province, northeast China).

    According to a message on the official WeChat account of the aforementioned educational institution, during the visit, negotiations took place between Consul General N. Pryzhkova and the school’s director Wang Hao.

    On behalf of the school, Wang Hao warmly welcomed the guests and spoke in detail about the main areas of work of the educational institution, focusing in particular on the features and achievements in teaching the Russian language.

    As the only school in Jilin Province that teaches Russian, CNIL teaches Russian from grades 7 to 12. Currently, 240 students are studying Russian.

    CSIJ attaches great importance to exchanges and cooperation with Russian educational institutions. As the relationship between China and Russia steadily strengthens, the school actively strives to further strengthen ties with Russian schools and deepen cooperation and exchanges with them.

    Consul General N. Pryzhkova highly praised the school’s educational environment, rich in international exchange events, as well as the atmosphere conducive to learning. She expressed her readiness to provide the school with all possible support in establishing close ties with Russian educational institutions, facilitating regular exchanges between Chinese and Russian students.

    After the talks, the delegation headed by the Consul General visited specialized Russian language classrooms, a student dormitory and the school history museum. The guests spoke positively about the atmosphere of studying Russian in the special classrooms and praised the cleanliness, order, and also highly appreciated the modern infrastructure of the student dormitory. -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: The Central Archives of the CPC Central Committee has opened more than 57,000 documents to the public

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    BEIJING, July 7 (Xinhua) — The Central Archives of the Communist Party of China (CPC) Central Committee on Monday opened more than 57,000 documents to the public to mark the 80th anniversary of the victory of the Chinese People’s War of Resistance Against Japanese Aggression and the World Anti-Fascist War.

    The new archives, which have been made available to the public, include more than 40,000 special materials covering the Chinese People’s War of Resistance Against Japanese Aggression from September 1931 to September 1945.

    The special archives that have been made public are said to be telegrams, communiqués, reports, papers and other documents compiled by party organizations at all levels, competent organs, military units and mass associations led by the Communist Party of China. They focus on the leadership of the CPC.

    Anyone interested may view these archival materials upon presentation of an identity card, service ID or other appropriate document. -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: BRICS represents an opportunity to create a fairer world order: Malaysian PM

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    KUALA LUMPUR, July 7 (Xinhua) — The BRICS grouping, which has proven itself to be a strong and principled force, represents an opportunity to shape a more balanced and fair international order, Malaysian Prime Minister Anwar Ibrahim said.

    The Prime Minister said in a statement that existing international institutions need to be reformed to reflect the changing global reality and take into account the aspirations of developing countries.

    “I also call for a major overhaul of global institutions such as the UN, the International Monetary Fund, the World Bank and the World Trade Organization so that they better reflect modern realities and the needs of developing countries, rather than remaining within the outdated structures that emerged after World War II,” he said.

    A. Ibrahim, who attended the 17th BRICS summit in Brazil, also noted that the association should strengthen economic cooperation both among member countries and with other regional associations such as the Association of Southeast Asian Nations (ASEAN).

    “BRICS and ASEAN members should also continue to strengthen strategic cooperation, including expanding intra-regional trade and investment for mutual benefit of developing countries,” he stressed. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Israel Strikes Yemeni Red Sea Ports

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    SANAA/JERUSALEM, July 7 (Xinhua) — Israel launched a series of airstrikes on Yemen’s Red Sea ports in the western province of Hodeida late Sunday.

    The strikes came minutes after the Israeli military issued an urgent evacuation warning on the X social media platform. Witnesses reported explosions in several locations along Yemen’s west coast, including the port of Hodeida.

    Israeli Defense Minister Israel Katz said in a statement that the strikes targeted what he described as Houthi strongholds, including the ports of Hodeida, al-Salif and Ras Isa, the Ras Katib power plant and the Galaxy Leader ship, which was captured by Houthi forces in November 2023.

    He suggested that a wider escalation could follow. “Yemen will be treated the same way as Tehran,” he said. “The Houthis will continue to pay a high price for their actions.”

    Earlier on Sunday, a rocket fired by Houthi forces triggered air raid sirens in southern Israel and was intercepted without casualties, the Israeli army said. The Houthis said it was a hypersonic missile aimed at Ben Gurion Airport near Tel Aviv.

    Israel has carried out several strikes on key ports and infrastructure in Yemen in recent months, while the Houthis continue to fire rockets into Israel while declaring solidarity with the Palestinians in Gaza. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Second direct international air route between Shanxi Province and Moscow officially launched

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    BEIJING, July 7 (Xinhua) — A direct international air route between Datong City in North China’s Shanxi Province and Moscow was officially launched on Sunday, marking the opening of a second tourist air route between the Russian capital and China’s Shanxi Province, Zhongxinshe News Agency reported.

    Flights Y7535/Y7536 on this route will be operated once a week. According to the schedule, the aircraft departs Moscow on Saturdays at 18:45 Moscow time and arrives in Datong at 08:50 the next day Beijing time. The return flight is operated on Sundays at 10:30 Beijing time from Datong, landing at Moscow airport at 15:35 local time.

    Let us recall that in April of this year, a charter flight Taiyuan-Moscow was opened. From the 17th to the beginning of the 20th century, the famous Great Tea Road connected the modern province of Shanxi and Russia. And the opening of flights Taiyuan-Moscow and Datong-Moscow will allow the two sides to deepen their friendship and intensify interactions.

    According to Li Zhiwei, CEO of Baohua Travel, Moscow and St. Petersburg are very attractive to Chinese travelers. Shanxi Province, where many attractions have been preserved, is also an interesting destination for Russian tourists. -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: A forum on entering the Russian market was held in Dongguan, southern China

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    BEIJING, July 7 (Xinhua) — The “Entering the Russian Market” forum was successfully held in Dongguan, south China’s Guangdong Province, on Thursday. The event brought together government, business, science and research leaders to discuss new opportunities in the Russian market for enterprises in the Guangdong-Hong Kong-Macao Greater Bay Area.

    According to the Phoenix news portal, Zhang Yuliang, vice-mayor of Hunchun City (Jilin Province, Northeast China), delivered a welcoming speech. He emphasized Hunchun’s advantageous geographical position as an important city bordering Russia in the area of cross-border cooperation, outlining bright prospects for Chinese-Russian trade and economic cooperation for the participants.

    Then, Chen Ping, an official from Dongguan Association for the Promotion of Trade, presented an in-depth analysis of the opportunities and ways for enterprises in the Greater Bay Area to enter the Russian market, offering practical recommendations.

    At the roundtable, participants launched an active discussion on the topic “The Russian market in 2025: advantages, risks, breakthrough strategies and integration paths.” Experts proposed multifaceted approaches to entering the Russian market, examining issues of coordinating political measures and guidelines, platform business activities, ensuring supply chains and other aspects.

    During the interactive session, participants actively asked questions, and experts gave detailed answers, creating a lively atmosphere. As the discussion deepened, participants’ understanding of the Russian market became clearer, and their vision of ways to enter the Russian market became clearer. -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI: Ellomay and Statkraft Sign Long-Term Power Purchase Agreements for Three Operating Italian Solar Plants

    Source: GlobeNewswire (MIL-OSI)

                             

    Tel-Aviv, Israel / Milan, Italy, July 07, 2025 (GLOBE NEWSWIRE) — Ellomay Capital Ltd. (NYSE American; TASE: ELLO) (“Ellomay” or the “Company”), a renewable energy and power generator and developer of renewable energy and power projects in Europe, USA and Israel, announced today that three Italian project companies in which the Company indirectly holds a 51% interest signed long-term (9-year) power purchase agreements (“PPAs”) with Statkraft, Europe’s largest generator of renewable energy. The PPAs cover 75% of the capacity (at P50) of three operating solar plants in Italy’s central-southern zone (CSUD), with a combined capacity of approximately 38 MW.

    Ran Fridrich, CEO and Board member of Ellomay, said: “This transaction reinforces Ellomay’s strategy of enhancing the value and stability of its renewable platform across key European markets. The collaboration with Statkraft—one of Europe’s most respected and experienced offtakers—strengthens the foundation of this deal. Together with Ellomay’s disciplined development strategy and high-performing asset base, these PPAs set a benchmark for quality-driven growth in utility-scale renewables. Ellomay aims to structure similar agreements for other projects, including its remaining Italian solar portfolio that currently consists of 160 MW under construction processes (51% owned), 124 MW that received construction permits and additional 140 MW that are expected to receive permits in the near future.”

    Maya Shaltiel, CEO of Maya International Strategic Alliances Ltd. (“MISA“), who led the negotiation and structuring of the transaction on behalf of Ellomay, said: “We are proud to have delivered bankable and resilient PPAs for Ellomay, in close collaboration with Statkraft. The PPAs support long-term stability for strong renewable assets in Italy and reflect a structure designed to thrive amid market complexity. In a period of high volatility and growing demand for green energy, we secured long-term certainty while preserving merchant upside — a structure that reflects strategic clarity and adaptability to evolving market conditions. We deeply appreciate Statkraft’s partnership and look forward to continuing to support energy transition efforts across Europe.”

    Gennaro D’Annucci, Head of Origination Italy at Statkraft, said: “We are pleased to collaborate with Ellomay on this important transaction, which underscores Statkraft’s role as a leading force in the European PPA market. This agreement further strengthens our substantial renewable energy portfolio in Italy and enables us to offer innovative and competitive green supply solutions tailored to the needs of Italian corporates and industrials. It reflects our enduring commitment to driving the energy transition forward and delivering value through clean energy.”

    About Ellomay Capital Ltd.

    Ellomay is an Israeli based company whose shares are registered with the NYSE American and with the Tel Aviv Stock Exchange under the trading symbol “ELLO”. Since 2009, Ellomay focuses its business in the renewable energy and power sectors in Europe, USA and Israel.

    To date, Ellomay has evaluated numerous opportunities and invested significant funds in the renewable, clean energy and natural resources industries in Israel, Italy, Spain, the Netherlands and Texas, USA, including:

    • Approximately 335.9 MW of operating solar power plants in Spain (including a 300 MW solar plant in owned by Talasol, which is 51% owned by the Company) and 51% of approximately 38 MW of operating solar power plants in Italy;
    • 9.375% indirect interest in Dorad Energy Ltd., which owns and operates one of Israel’s largest private power plants with production capacity of approximately 850 MW, representing about 6%-8% of Israel’s total current electricity consumption;
    • Groen Gas Goor B.V., Groen Gas Oude-Tonge B.V. and Groen Gas Gelderland B.V., project companies operating anaerobic digestion plants in the Netherlands, with a green gas production capacity of approximately 3 million, 3.8 million and 9.5 million Nm3 per year, respectively;
    • 83.333% of Ellomay Pumped Storage (2014) Ltd., which is involved in a project to construct a 156 MW pumped storage hydro power plant in the Manara Cliff, Israel;
    • 51% of solar projects in Italy with an aggregate capacity of 160 MW that commenced construction processes;
    • Solar projects in Italy with an aggregate capacity of 134 MW that have reached “ready to build” status; and
    • Solar projects in the Dallas Metropolitan area, Texas, USA with an aggregate capacity of approximately 27 MW that are connected to the grid and an additional 22 MW that are awaiting connection to the grid.

    For more information about Ellomay, visit http://www.ellomay.com.

    About Statkraft

    Statkraft – Europe’s largest renewable energy producer – is a company with 7,000 employees in over 20 countries that develops and manages hydropower, wind, solar and storage system assets, also offering PPA (Power Purchase Agreement) solutions for energy buying and selling. With a history and experience of 130 years, Statkraft operates in Italy since 2020, inspired by the group’s core values: We act responsibly, We grow together, We make an impact. Principles that have always guided us towards sustainable and socially responsible action. Indeed, the management of stakeholder relations is respectful of the highest standards of corporate compliance, thus ensuring an ethical approach to business and excellent feedback from the communities that welcome our green investments.

    For more information about Statkraft, visit http://www.statkraft.com

    About Maya International Strategic Alliances Ltd.

    MISA specializes in structuring and negotiating strategic transactions in the energy and infrastructure space. With deep expertise in European and Asian energy markets, MISA supports sponsors and investors in delivering commercially sound, bankable solutions tailored to local and global dynamics.

    Information Relating to Forward-Looking Statements

    This press release contains forward-looking statements that involve substantial risks and uncertainties, including statements that are based on the current expectations and assumptions of the Company’s management. All statements, other than statements of historical facts, included in this press release regarding the Company’s plans and objectives, expectations and assumptions of management are forward-looking statements. The use of certain words, including the words “estimate,” “project,” “intend,” “expect,” “believe” and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company may not actually achieve the plans, intentions or expectations disclosed in the forward-looking statements and you should not place undue reliance on the Company’s forward-looking statements. Various important factors could cause actual results or events to differ materially from those that may be expressed or implied by the Company’s forward-looking statements, including changes in electricity prices and demand, regulatory changes, increases in interest rates and inflation, changes in the supply and prices of resources required for the operation of the Company’s facilities (such as waste and natural gas) and in the price of oil, the impact of the war and hostilities in Israel and Gaza and between Israel and Iran, the impact of the continued military conflict between Russia and Ukraine, technical and other disruptions in the operations or construction of the power plants owned by the Company, inability to obtain the financing required for the development and construction of projects, inability to advance the expansion of Dorad, increases in interest rates and inflation, changes in exchange rates, delays in development, construction, or commencement of operation of the projects under development, failure to obtain permits – whether within the set time frame or at all, climate change, and general market, political and economic conditions in the countries in which the Company operates, including Israel, Spain, Italy and the United States. and general market, political and economic conditions in the countries in which the Company operates, including Israel, Spain, Italy and the United States. These and other risks and uncertainties associated with the Company’s business are described in greater detail in the filings the Company makes from time to time with Securities and Exchange Commission, including its Annual Report on Form 20-F. The forward-looking statements are made as of this date and the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact:
    Kalia Rubenbach (Weintraub)
    CFO
    Tel: +972 (3) 797-1111
    Email: hilai@ellomay.com

    The MIL Network –

  • MIL-OSI: Ellomay and Statkraft Sign Long-Term Power Purchase Agreements for Three Operating Italian Solar Plants

    Source: GlobeNewswire (MIL-OSI)

                             

    Tel-Aviv, Israel / Milan, Italy, July 07, 2025 (GLOBE NEWSWIRE) — Ellomay Capital Ltd. (NYSE American; TASE: ELLO) (“Ellomay” or the “Company”), a renewable energy and power generator and developer of renewable energy and power projects in Europe, USA and Israel, announced today that three Italian project companies in which the Company indirectly holds a 51% interest signed long-term (9-year) power purchase agreements (“PPAs”) with Statkraft, Europe’s largest generator of renewable energy. The PPAs cover 75% of the capacity (at P50) of three operating solar plants in Italy’s central-southern zone (CSUD), with a combined capacity of approximately 38 MW.

    Ran Fridrich, CEO and Board member of Ellomay, said: “This transaction reinforces Ellomay’s strategy of enhancing the value and stability of its renewable platform across key European markets. The collaboration with Statkraft—one of Europe’s most respected and experienced offtakers—strengthens the foundation of this deal. Together with Ellomay’s disciplined development strategy and high-performing asset base, these PPAs set a benchmark for quality-driven growth in utility-scale renewables. Ellomay aims to structure similar agreements for other projects, including its remaining Italian solar portfolio that currently consists of 160 MW under construction processes (51% owned), 124 MW that received construction permits and additional 140 MW that are expected to receive permits in the near future.”

    Maya Shaltiel, CEO of Maya International Strategic Alliances Ltd. (“MISA“), who led the negotiation and structuring of the transaction on behalf of Ellomay, said: “We are proud to have delivered bankable and resilient PPAs for Ellomay, in close collaboration with Statkraft. The PPAs support long-term stability for strong renewable assets in Italy and reflect a structure designed to thrive amid market complexity. In a period of high volatility and growing demand for green energy, we secured long-term certainty while preserving merchant upside — a structure that reflects strategic clarity and adaptability to evolving market conditions. We deeply appreciate Statkraft’s partnership and look forward to continuing to support energy transition efforts across Europe.”

    Gennaro D’Annucci, Head of Origination Italy at Statkraft, said: “We are pleased to collaborate with Ellomay on this important transaction, which underscores Statkraft’s role as a leading force in the European PPA market. This agreement further strengthens our substantial renewable energy portfolio in Italy and enables us to offer innovative and competitive green supply solutions tailored to the needs of Italian corporates and industrials. It reflects our enduring commitment to driving the energy transition forward and delivering value through clean energy.”

    About Ellomay Capital Ltd.

    Ellomay is an Israeli based company whose shares are registered with the NYSE American and with the Tel Aviv Stock Exchange under the trading symbol “ELLO”. Since 2009, Ellomay focuses its business in the renewable energy and power sectors in Europe, USA and Israel.

    To date, Ellomay has evaluated numerous opportunities and invested significant funds in the renewable, clean energy and natural resources industries in Israel, Italy, Spain, the Netherlands and Texas, USA, including:

    • Approximately 335.9 MW of operating solar power plants in Spain (including a 300 MW solar plant in owned by Talasol, which is 51% owned by the Company) and 51% of approximately 38 MW of operating solar power plants in Italy;
    • 9.375% indirect interest in Dorad Energy Ltd., which owns and operates one of Israel’s largest private power plants with production capacity of approximately 850 MW, representing about 6%-8% of Israel’s total current electricity consumption;
    • Groen Gas Goor B.V., Groen Gas Oude-Tonge B.V. and Groen Gas Gelderland B.V., project companies operating anaerobic digestion plants in the Netherlands, with a green gas production capacity of approximately 3 million, 3.8 million and 9.5 million Nm3 per year, respectively;
    • 83.333% of Ellomay Pumped Storage (2014) Ltd., which is involved in a project to construct a 156 MW pumped storage hydro power plant in the Manara Cliff, Israel;
    • 51% of solar projects in Italy with an aggregate capacity of 160 MW that commenced construction processes;
    • Solar projects in Italy with an aggregate capacity of 134 MW that have reached “ready to build” status; and
    • Solar projects in the Dallas Metropolitan area, Texas, USA with an aggregate capacity of approximately 27 MW that are connected to the grid and an additional 22 MW that are awaiting connection to the grid.

    For more information about Ellomay, visit http://www.ellomay.com.

    About Statkraft

    Statkraft – Europe’s largest renewable energy producer – is a company with 7,000 employees in over 20 countries that develops and manages hydropower, wind, solar and storage system assets, also offering PPA (Power Purchase Agreement) solutions for energy buying and selling. With a history and experience of 130 years, Statkraft operates in Italy since 2020, inspired by the group’s core values: We act responsibly, We grow together, We make an impact. Principles that have always guided us towards sustainable and socially responsible action. Indeed, the management of stakeholder relations is respectful of the highest standards of corporate compliance, thus ensuring an ethical approach to business and excellent feedback from the communities that welcome our green investments.

    For more information about Statkraft, visit http://www.statkraft.com

    About Maya International Strategic Alliances Ltd.

    MISA specializes in structuring and negotiating strategic transactions in the energy and infrastructure space. With deep expertise in European and Asian energy markets, MISA supports sponsors and investors in delivering commercially sound, bankable solutions tailored to local and global dynamics.

    Information Relating to Forward-Looking Statements

    This press release contains forward-looking statements that involve substantial risks and uncertainties, including statements that are based on the current expectations and assumptions of the Company’s management. All statements, other than statements of historical facts, included in this press release regarding the Company’s plans and objectives, expectations and assumptions of management are forward-looking statements. The use of certain words, including the words “estimate,” “project,” “intend,” “expect,” “believe” and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company may not actually achieve the plans, intentions or expectations disclosed in the forward-looking statements and you should not place undue reliance on the Company’s forward-looking statements. Various important factors could cause actual results or events to differ materially from those that may be expressed or implied by the Company’s forward-looking statements, including changes in electricity prices and demand, regulatory changes, increases in interest rates and inflation, changes in the supply and prices of resources required for the operation of the Company’s facilities (such as waste and natural gas) and in the price of oil, the impact of the war and hostilities in Israel and Gaza and between Israel and Iran, the impact of the continued military conflict between Russia and Ukraine, technical and other disruptions in the operations or construction of the power plants owned by the Company, inability to obtain the financing required for the development and construction of projects, inability to advance the expansion of Dorad, increases in interest rates and inflation, changes in exchange rates, delays in development, construction, or commencement of operation of the projects under development, failure to obtain permits – whether within the set time frame or at all, climate change, and general market, political and economic conditions in the countries in which the Company operates, including Israel, Spain, Italy and the United States. and general market, political and economic conditions in the countries in which the Company operates, including Israel, Spain, Italy and the United States. These and other risks and uncertainties associated with the Company’s business are described in greater detail in the filings the Company makes from time to time with Securities and Exchange Commission, including its Annual Report on Form 20-F. The forward-looking statements are made as of this date and the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact:
    Kalia Rubenbach (Weintraub)
    CFO
    Tel: +972 (3) 797-1111
    Email: hilai@ellomay.com

    The MIL Network –

  • MIL-OSI: Shell second quarter 2025 update note

    Source: GlobeNewswire (MIL-OSI)

    The following is an update to the second quarter 2025 outlook and gives an overview of our current expectations for the second quarter. Outlooks presented may vary from the actual second quarter 2025 results and are subject to finalisation of those results, which are scheduled to be published on July 31, 2025. Unless otherwise indicated, all outlook statements exclude identified items. 

    See appendix for the definition of the non-GAAP measure used and the most comparable GAAP measure.

       Integrated Gas

    $ billions Q1’25 Q2’25 Outlook Comment
    Adjusted EBITDA:
    Production (kboe/d) 927 900 – 940  
    LNG liquefaction volumes (MT) 6.6 6.4 – 6.8  
    Underlying opex 1.0 1.0 – 1.2  
    Adjusted Earnings:
    Pre-tax depreciation 1.4 1.4 – 1.8  
    Taxation charge 0.8 0.3 – 0.6  
    Other Considerations:
    Trading & Optimisation is expected to be significantly lower than Q1’25.

     Upstream

    $ billions Q1’25 Q2’25 Outlook Comment
    Adjusted EBITDA:
    Production (kboe/d) 1,855 1,660 – 1,760 Reflects scheduled maintenance and the completed sale of SPDC in Nigeria.
    Underlying opex 2.2 1.9 – 2.5  
    Adjusted Earnings:
    Pre-tax depreciation 2.2 2.0 – 2.6  
    Taxation charge 2.6 1.6 – 2.4  
    Other Considerations:
    The share of profit / (loss) of joint ventures and associates in Q2’25 is expected to be ~$0.2 billion. Q2’25 exploration well write-offs are expected to be ~$0.2 billion.

     Marketing

    $ billions Q1’25 Q2’25 Outlook Comment
    Adjusted EBITDA:
    Sales volumes (kb/d) 2,674 2,600 – 3,000  
    Underlying opex 2.4 2.3 – 2.7  
    Adjusted Earnings:
    Pre-tax depreciation 0.6 0.5 – 0.7  
    Taxation charge 0.4 0.2 – 0.6  
    Other Considerations:
    Marketing adjusted earnings are expected to be higher than Q1’25.

      Chemicals and Products

    $ billions Q1’25 Q2’25 Outlook Comment
    Adjusted EBITDA:
    Indicative refining margin* $6.2/bbl $8.9/bbl  
    Indicative chemicals margin* $126/tonne $166/tonne The Chemicals sub-segment adjusted earnings are expected to be a loss.
    Refinery utilisation 85% 92% – 96%  
    Chemicals utilisation 81% 68% – 72% Chemicals utilisation impacted by unplanned maintenance at Monaca.
    Underlying opex 2.0 1.7 – 2.1  
    Adjusted Earnings:
    Pre-tax depreciation 0.9 0.8 – 1.0  
    Taxation charge / (credit) 0.1 (0.3) – 0.2  
    Other Considerations:
    Trading & Optimisation is expected to be significantly lower than Q1’25. The Chemicals & Products segment adjusted earnings is expected to be below break-even in Q2’25.

    *See appendix

     Renewables and Energy Solutions

    $ billions Q1’25 Q2’25 Outlook Comment
    Adjusted Earnings — (0.4) – 0.2 Trading & Optimisation is expected to be lower than Q1’25.

    Corporate

    $ billions Q1’25 Q2’25 Outlook Comment
    Adjusted Earnings (0.5) (0.6) – (0.4)  

    Shell Group

    $ billions Q1’25 Q2’25 Outlook Comment
    CFFO:
    Tax paid 2.9 2.8 – 3.6  
    Derivative movements — (1) – 3  
    Working capital (2.7) (1) – 4  
    Other Shell Group Considerations:
    – 

    Guidance

    The ‘Quarterly Databook’ contains guidance on Indicative Refining Margin, Indicative Chemicals Margin and full-year price and margin sensitivities.

    Consensus

    The company compiled consensus, managed by Vara Research, is expected to be published on July 23, 2025.

    Appendix

    Indicative Margins

    Chemicals & Products Q1’25 Q2’25 Updated Outlook
    Indicative refining margin $6.2/bbl $8.9/bbl
    Indicative chemicals margin $126/tonne $166/tonne

    The formulas for Indicative refining margin (IRM) and Indicative chemicals margin (ICM) have been updated following the completion of the Singapore divestment. Applying the previous formula for Q2’25 the IRM would have been: $7.5/bbl and the ICM $143/tonne. 

    Volume Data

    Operational Metrics Q1’25 Q2’25 QPR Outlook Q2’25 Updated Outlook
    Integrated Gas      
    Production (kboe/d) 927 890 – 950 900 – 940
    LNG liquefaction volumes (MT) 6.6 6.3 – 6.9 6.4 – 6.8
    Upstream      
    Production (kboe/d) 1,855 1,560 – 1,760 1,660 – 1,760
    Marketing      
    Sales volumes (kb/d) 2,674 2,600 – 3,100 2,600 – 3,000
    Chemicals & Products      
    Refinery utilisation 85% 87% – 95% 92% – 96%
    Chemicals utilisation 81% 74% – 82% 68% – 72%

    Underlying Opex

    Underlying operating expenses is a measure aimed at facilitating a comparative understanding of performance from period to period by removing the effects of identified items, which, either individually or collectively, can cause volatility, in some cases driven by external factors. For further details see the 1st Quarter 2025 unaudited results.

    $ billions Q1’25 Q1’25 Adjusted Q2’25 Updated Outlook
    Production and manufacturing expenses 5.5    
    Selling, distribution and administrative expenses 2.8    
    Research and development 0.2    
    Operating Expenses (Opex) 8.6 8.6  
    Less: Identified Items   0.1  
    Underlying Opex   8.5  
        of which:      
        Integrated Gas 1.0 1.0 1.0 – 1.2
        Upstream 2.2 2.2 1.9 – 2.5
        Marketing 2.4 2.4 2.3 – 2.7
        Chemicals and Products 2.1 2.0 1.7 – 2.1
        Renewables and Energy Solutions 0.7 0.7  

    Depreciation, depletion and amortisation

    $ billions Q1’25 Q1’25 Adjusted Q2’25 Updated Outlook
    Depreciation, Depletion & Amortisation 5.4 5.4  
    Less: Identified Items   0.3  
    Pre-tax depreciation (as Adjusted)   5.1  
        of which:      
        Integrated Gas 1.4 1.4 1.4 – 1.8
        Upstream 2.2 2.2 2.0 – 2.6
        Marketing 0.5 0.6 0.5 – 0.7
        Chemicals and Products 1.1 0.9 0.8 – 1.0
        Renewables and Energy Solutions 0.1 0.1  

    Taxation Charge

    $ billions Q1’25 Q1’25 Adjusted Q2’25 Updated Outlook
    Taxation Charge 4.1 4.1  
    Less: Identified Items and Cost of supplies adjustment   0.3  
    Taxation Charge (as Adjusted)   3.8  
        of which:      
        Integrated Gas 0.8 0.8 0.3 – 0.6
        Upstream 3.0 2.6 1.6 – 2.4
        Marketing 0.4 0.4 0.2 – 0.6
        Chemicals and Products — 0.1 (0.3) – 0.2
        Renewables and Energy Solutions — 0.1  

    Adjusted Earnings

    The “Adjusted Earnings” measure aims to facilitate a comparative understanding of Shell’s financial performance from period to period by removing the effects of oil price changes on inventory carrying amounts and removing the effects of identified items. These items are in some cases driven by external factors and may, either individually or collectively, hinder the comparative understanding of Shell’s financial results from period to period. This measure excludes earnings attributable to non-controlling interest. For further details see the 1st Quarter 2025 unaudited results.

    $ billions Q1’25 Q1’25 Adjusted Q2’25 Updated Outlook
    Income/(loss) attributable to Shell plc shareholders 4.8 4.8  
    Add: Current cost of supplies adjustment attributable to Shell plc shareholders   —  
    Less: Identified items attributable to Shell plc shareholders   (0.8)  
    Adjusted Earnings   5.6  
        of which:      
        Renewables and Energy Solutions (0.2) — (0.4) – 0.2
        Corporate (0.5) (0.5) (0.6) – (0.4)

    Enquiries

    Media International: +44 (0) 207 934 5550

    Media U.S. and Canada: Contact form

    Cautionary Note

    The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this announcement “Shell”, “Shell Group” and “Group” are sometimes used for convenience to reference Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this announcement refer to entities over which Shell plc either directly or indirectly has control. The terms “joint venture”, “joint operations”, “joint arrangements”, and “associates” may also be used to refer to a commercial arrangement in which Shell has a direct or indirect ownership interest with one or more parties.  The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.

    The numbers presented in this announcement may not sum precisely to the totals provided and percentages may not precisely reflect the absolute figures due to rounding.

    Forward-Looking statements
    This announcement contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as “aim”; “ambition”; ‘‘anticipate’’; “aspire”; “aspiration”; ‘‘believe’’; “commit”; “commitment”; ‘‘could’’; “desire”; ‘‘estimate’’; ‘‘expect’’; ‘‘goals’’; ‘‘intend’’; ‘‘may’’; “milestones”; ‘‘objectives’’; ‘‘outlook’’; ‘‘plan’’; ‘‘probably’’; ‘‘project’’; ‘‘risks’’; “schedule”; ‘‘seek’’; ‘‘should’’; ‘‘target’’; “vision”; ‘‘will’’; “would” and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this announcement, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks, including climate change; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including tariffs and regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, regional conflicts, such as the Russia-Ukraine war and the conflict in the Middle East, and a significant cyber security, data privacy or IT incident; (n) the pace of the energy transition; and (o) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this announcement are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc’s Form 20-F and amendment thereto for the year ended December 31, 2024 (available at www.shell.com/investors/news-and-filings/sec-filings.html and www.sec.gov). These risk factors also expressly qualify all forward-looking statements contained in this announcement and should be considered by the reader. Each forward-looking statement speaks only as of the date of this announcement, July 7, 2025. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this announcement.

    Shell’s net carbon intensity
    Also, in this announcement we may refer to Shell’s “net carbon intensity” (NCI), which includes Shell’s carbon emissions from the production of our energy products, our suppliers’ carbon emissions in supplying energy for that production and our customers’ carbon emissions associated with their use of the energy products we sell. Shell’s NCI also includes the emissions associated with the production and use of energy products produced by others which Shell purchases for resale. Shell only controls its own emissions. The use of the terms Shell’s “net carbon intensity” or NCI is for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries.

    Shell’s net-zero emissions target
    Shell’s operating plan and outlook are forecasted for a three-year period and ten-year period, respectively, and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next three and ten years. Accordingly, the outlook reflects our Scope 1, Scope 2 and NCI targets over the next ten years.  However, Shell’s operating plan and outlook cannot reflect our 2050 net-zero emissions target, as this target is outside our planning period. Such future operating plans and outlooks could include changes to our portfolio, efficiency improvements and the use of carbon capture and storage and carbon credits. In the future, as society moves towards net-zero emissions, we expect Shell’s operating plans and outlooks to reflect this movement. However, if society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target.

    Forward-Looking Non-GAAP measures

    This announcement may contain certain forward-looking non-GAAP measures such as Adjusted Earnings, Adjusted EBITDA, Cash flow from operating activities excluding working capital movements, Cash capital expenditure, Net debt and Underlying operating expense.

    Adjusted Earnings and Adjusted EBITDA are measures used to evaluate Shell’s performance in the period and over time.
    The “Adjusted Earnings” and Adjusted EBITDA are measures which aim to facilitate a comparative understanding of Shell’s financial performance from period to period by removing the effects of oil price changes on inventory carrying amounts and removing the effects of identified items.
    Adjusted Earnings is defined as income/(loss) attributable to shareholders adjusted for the current cost of supplies and excluding identified items. “Adjusted EBITDA (CCS basis)” is defined as “Income/(loss) for the period” adjusted for current cost of supplies; identified items; tax charge/(credit); depreciation, amortisation and depletion; exploration well write-offs and net interest expense. All items include the non-controlling interest component.
    Cash flow from operating activities excluding working capital movements is a measure used by Shell to analyse its operating cash generation over time excluding the timing effects of changes in inventories and operating receivables and payables from period to period. Working capital movements are defined as the sum of the following items in the Consolidated Statement of Cash Flows: (i) (increase)/decrease in inventories, (ii) (increase)/decrease in current receivables, and (iii) increase/(decrease) in current payables. Cash capital expenditure is the sum of the following lines from the Consolidated Statement of Cash flows: Capital expenditure, Investments in joint ventures and associates and Investments in equity securities. Net debt is defined as the sum of current and non-current debt, less cash and cash equivalents, adjusted for the fair value of derivative financial instruments used to hedge foreign exchange and interest rate risks relating to debt, and associated collateral balances. Underlying operating expenses is a measure of Shell’s cost management performance and aimed at facilitating a comparative understanding of performance from period to period by removing the effects of identified items, which, either individually or collectively, can cause volatility, in some cases driven by external factors. Underlying operating expenses comprises the following items from the Consolidated statement of Income: production and manufacturing expenses; selling, distribution and administrative expenses; and research and development expenses and removes the effects of identified items such as redundancy and restructuring charges or reversals, provisions or reversals and others.

    We are unable to provide a reconciliation of these forward-looking non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile those non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of Shell, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Shell plc’s consolidated financial statements.
    The contents of websites referred to in this announcement do not form part of this announcement.

    We may have used certain terms, such as resources, in this announcement that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC.  Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov.

    LEI number of Shell plc: 21380068P1DRHMJ8KU70

    The MIL Network –

  • Trump says US nears trade deals as tariff deadline delayed

    Source: Government of India

    Source: Government of India (4)

    The United States is close to finalizing several trade pacts in coming days and will notify other countries of higher tariff rates by July 9, President Donald Trump said on Sunday, with the higher rates set to take effect on August 1.

    Since taking office, Trump has set off a global trade war that has roiled financial markets and sent policymakers scrambling to protect their economies, through efforts such as deals with the United States and other countries.

    In April Trump unveiled a base tariff rate of 10% on most countries and additional duties of up to 50%, but later gave a three-week reprieve until Wednesday for all but 10% of them.

    Trump, whose remarks to reporters on Sunday came just before his return to Washington from a weekend golfing in New Jersey, had flagged the August 1 date earlier, but it was unclear if all tariffs would increase then.

    Asked to clarify, Commerce Secretary Howard Lutnick told reporters the higher tariffs would take effect on August 1, but Trump was “setting the rates and the deals right now.”

    In a posting on his Truth Social website, Trump later said the U.S. would start delivering tariff letters from 12:00 pm ET (1600 GMT) on Monday.

    In a separate post, he rolled out a wholly new tariff policy, calling for countries “aligning themselves with the Anti-American policies” of the BRICS developing nations to be charged an extra 10% tariff, with no exceptions to be granted.

    The first BRICS summit in 2009 was attended by leaders from Brazil, China, India and Russia, with South Africa joining later while Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the United Arab Emirates were included last year.

    Trump has close ties to leaders of some of those countries, such as Saudi Arabia and UAE, and has been touting the prospect of a trade deal with India for weeks.

    On Sunday, BRICS leaders condemned attacks on Gaza and Iran, called for reforms to global institutions and warned that the rise in tariffs threatened global trade.

    It was not immediately clear if Trump’s tariff threat would derail trade talks with India, Indonesia and other BRICS nations, however.

    Earlier on Sunday, U.S. Treasury Secretary Scott Bessent told CNN’s “State of the Union” that several big trade agreements would be announced in the next days, adding that European Union talks had made good progress.

    Trump would also send letters to 100 smaller countries with which the United States does not have much trade, notifying them of higher tariff rates, he added.

    “President Trump’s going to be sending letters to some of our trading partners saying that if you don’t move things along, then on August 1 you will boomerang back to your April 2 tariff level,” Bessent said.

    “So I think we’re going to see a lot of deals very quickly.”

    Kevin Hassett, who heads the White House National Economic Council, told CBS’s “Face the Nation” program there might be wiggle room for countries engaged in earnest negotiations.

    “There are deadlines, and there are things that are close, and so maybe things will push back past the deadline,” Hassett said, adding that Trump would decide.

    ‘I HEAR GOOD THINGS’

    Stephen Miran, chairman of the White House Council of Economic Advisers, told ABC News’ “This Week” program that countries needed to make concessions to get lower tariff rates.

    “I hear good things about the talks with Europe. I hear good things about the talks with India,” Miran said. “And so I would expect that a number of countries that are in the process of making those concessions … might see their date rolled.”

    Bessent told CNN the Trump administration was focused on 18 important trading partners that account for 95% of the U.S. trade deficit. But he said there had been “a lot of foot-dragging” among countries in finalizing trade deals.

    Thailand, keen to avert a 36% tariff, is now offering greater market access for U.S. farm and industrial goods and more purchases of U.S. energy and Boeing BA.N jets, Finance Minister Pichai Chunhavajira told Bloomberg News on Sunday.

    India and the United States are likely to make a final decision on a mini trade deal in the next 24 to 48 hours, local Indian news channel CNBC-TV18 reported on Sunday, with average tariffs of 10% on Indian goods shipped to the U.S., it said.

    Hassett told CBS News that framework agreements already reached with Britain and Vietnam offered guidelines for other countries. He said Trump’s pressure was prompting countries to move production to the United States.

    The Vietnam deal was “fantastic,” Miran said.

    “It’s extremely one-sided. We get to apply a significant tariff to Vietnamese exports. They’re opening their markets to ours, applying zero tariff to our exports.”

    (Reuters)

  • MIL-OSI Russia: New molecular engineering laboratory created at NSU

    Translation. Region: Russian Federal

    Source: Novosibirsk State University –

    An important disclaimer is at the bottom of this article.

    In the structure Institute of Medicine and Medical Technologies (IMMT) NSU A new laboratory of molecular engineering has been created; it will become the first specialized laboratory beyond the Urals that will comprehensively deal with such promising areas of modern medicine as the cultivation of microorganism cells, the study of virome and metagenomic analysis, and the prediction of protein structure based on the analysis of the data obtained.

    In early 2026, after the delivery of the new building of the NSU IMMT, which is part of the second stage of the NSU campus, built within the framework of the national project “Youth and Children”, the laboratory will be located on the premises of the new campus. The creation of the laboratory is part of the strategic project “Center for the Integration of Personalized Biomedicine, Pharmacy and Synchrotron, Binary Technologies”, financed within the framework of Priority 2030 programs.

    Currently, the laboratory employs 5 people, including representatives of leading research centers in Novosibirsk and Tomsk. Also, students, postgraduates and graduate students of the Institute of Medicine and Medical Technologies, the Faculty of Natural Sciences and other faculties of NSU will be involved in the work in the laboratory, who, as part of the preparation of their diploma and scientific papers, will participate in the implementation of the laboratory’s projects. The laboratory is headed by Elena Prokopyeva, PhD in Biology, research fellow at the IMMT NSU.

    The laboratory is fully focused on solving applied problems facing the modern pharmaceutical industry and biomedicine. First of all, we are talking about the rapid implementation of new methods of pharmaceutical development, expansion of interdisciplinary research, integration of artificial intelligence and big data analysis in biology and medicine; as well as the formation of a modern educational environment for training new generation specialists, including students from different countries.

    The main areas of work of the laboratory:

    creation and improvement of biotechnological protocols for cultivating prokaryotic and eukaryotic microorganisms in laboratory and industrial bioreactors; creation of innovative methods for identifying and quantitatively analyzing viral particles using accelerator mass spectrometry; study of the diversity, structure and dynamics of viral communities (virosphere) in various ecological niches using modern methods of metagenomics and bioinformatics.

    — One of the promising areas for the laboratory is the analysis of viromes (a set of viruses) using metagenomic and bioinformatics analysis in partnership with research institutes of the Siberian Branch of the Russian Academy of Sciences. This is an advanced area in science. Metagenomic analysis is based on next-generation sequencing methods, which can be used to “read” several sections of different genomes in different samples at the same time. However, today the problem is the analysis of billions of available sequences, the number of which increases exponentially every year. Thus, advanced technologies will speed up the process of identifying new viruses, even based on already available and published metagenomic data, — said Elena Prokopyeva.

    The lab plans to use machine learning models to analyze biomedical data, such as genomic, transcriptomic, and proteomic data, as these methods can effectively identify complex patterns and relationships in large and multidimensional data sets. The use of machine learning in biomedical research opens up new opportunities for deep understanding of biological processes and improving clinical practice.

    Another area of the laboratory’s work is education. By the end of 2025, an interactive educational web application will be finalized. HTTP: //histology. HSU.ru, which includes a collection of digital microscope slides on histology, embryology and cytology.

    — Thus, this project will create a comprehensive scientific and technical platform that will unite disparate areas (bioreactors, metagenomics, molecular diagnostics, digitalization of education and biomedical developments) into a single ecosystem, increase the efficiency of research and accelerate the introduction of innovations in industry and medicine, — Elena Prokopyeva emphasized.

    The industrial and scientific partners of the laboratory are industry leaders — Technoprom LLC, research institutes of the SB RAS (G.I. Budker Institute of Nuclear Physics SB RAS, G.K. Boreskov Institute of Catalysis SB RAS, Federal Research Center Institute of Cytology and Genetics SB RAS), FBSI SRC VB Vector of Rospotrebnadzor, Federal Research Center for Fundamental and Translational Medicine (FRC FTM). The laboratory also cooperates with foreign partners, such as Qinghai University and East China Normal University (China), RSE Institute of Genetics and Physiology (Kazakhstan).

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • BRICS: Indonesia joins as full member, 10 countries welcomed as partners

    Source: Government of India

    Source: Government of India (4)

    Leaders of the BRICS nations on Sunday welcomed Indonesia as a full member of the group, along with the inclusion of 10 countries — Belarus, Bolivia, Kazakhstan, Nigeria, Malaysia, Thailand, Cuba, Vietnam, Uganda, and Uzbekistan — as partner countries.

    In a joint declaration issued at the 17th BRICS Summit in Rio de Janeiro, the leaders said, “We welcome the Republic of Indonesia as a BRICS member, as well as the Republic of Belarus, the Plurinational State of Bolivia, the Republic of Kazakhstan, the Republic of Cuba, the Federal Republic of Nigeria, Malaysia, the Kingdom of Thailand, the Socialist Republic of Vietnam, the Republic of Uganda, and the Republic of Uzbekistan as BRICS partner countries.”

    The declaration also highlighted key initiatives adopted during the summit, including the BRICS Leaders’ Framework Declaration on Climate Finance, the BRICS Leaders’ Statement on the Global Governance of Artificial Intelligence, and the launch of the BRICS Partnership for the Elimination of Socially Determined Diseases. 

    During the BRICS session on ‘Peace and Security and Reform of Global Governance,’ Prime Minister Narendra Modi emphasised that the expansion demonstrates BRICS’ ability to evolve with changing times. He called for urgent reforms in global institutions such as the United Nations Security Council, the World Trade Organisation (WTO), and Multilateral Development Banks.

    “The expansion of BRICS and the inclusion of new partners reflect its ability to evolve with the times. Now, we must demonstrate the same determination to reform institutions like the UN Security Council, the WTO, and Multilateral Development Banks. In the age of AI, where technology evolves every week, it’s unacceptable for global institutions to go eighty years without reform. You can’t run 21st-century software on 20th-century typewriters,” the Prime Minister said.

    BRICS was originally established as BRIC after the leaders of Russia, India, China, and Brazil met during the G8 Outreach Summit in 2006. The grouping formalised its cooperation with the first BRIC Summit in Russia in 2009. South Africa joined in 2010, expanding the group to BRICS.

    A further expansion took place in 2024 with Egypt, Ethiopia, Iran, and the UAE becoming full members from January 1. Indonesia became a full member in January 2025, while Belarus, Bolivia, Kazakhstan, Cuba, Malaysia, Nigeria, Thailand, Uganda, and Uzbekistan were inducted as BRICS partner countries.

    (ANI)

     

  • BRICS leaders back India, Brazil for bigger UN Security Council role

    Source: Government of India

    Source: Government of India (4)

    Leaders of BRICS nations have reiterated their support for “comprehensive” reform of the United Nations, including its Security Council, to make it more democratic, representative, effective and efficient.

    In a joint declaration at the 17th BRICS Summit in Rio de Janeiro, China and Russia — as permanent members of the UN Security Council — reaffirmed their support for the aspirations of Brazil and India to play a greater role in the UN, including the Security Council.

    “We reiterate our support for a comprehensive reform of the United Nations, including its Security Council, with a view to making it more democratic, representative, effective and efficient, and to increase the representation of developing countries in the Council’s membership so that it can adequately respond to prevailing global challenges and support the legitimate aspirations of emerging and developing countries from Africa, Asia and Latin America, including BRICS countries, to play a greater role in international affairs, in particular in the United Nations, including its Security Council. We recognise the legitimate aspirations of African countries, as reflected in the Ezulwini Consensus and Sirte Declaration,” the declaration said.

    “We stress that United Nations Security Council reform must lead to an amplified voice for the Global South. China and Russia, as permanent members of the UN Security Council, reiterate their support for the aspirations of Brazil and India to play a greater role in the United Nations, including its Security Council,” it added.

    India has long sought a permanent seat in the Security Council to better represent the interests of the developing world. The UNSC comprises 15 member states, including five permanent members with veto power and ten non-permanent members elected for two-year terms.

    BRICS leaders also expressed serious concerns over the rise of unilateral tariffs and non-tariff measures that distort trade and violate World Trade Organization (WTO) rules. They reiterated their support for a rules-based, open, transparent, fair, inclusive, equitable, non-discriminatory, consensus-based multilateral trading system with the WTO at its core, with special and differential treatment (S&D T) for its developing members.

    The bloc recalled commitments made at the 12th WTO Ministerial Conference and reaffirmed at the 13th to work towards the necessary reform of the organisation to ensure its relevance and restore the credibility of the multilateral trading system.

    They expressed commitment to restoring an accessible, effective, fully functioning, two-tier binding WTO dispute settlement system and extended support for Ethiopia and Iran’s bids to join the WTO. The group also welcomed the BRICS Declaration on WTO Reform and Strengthening of the Multilateral Trading System, adopted by trade ministers.

    The leaders condemned the imposition of unilateral coercive measures that violate international law and reiterated that such measures — including unilateral economic sanctions and secondary sanctions — have far-reaching negative impacts on human rights, including the rights to development, health and food security.

    “We call for the elimination of such unlawful measures, which undermine international law and the principles and purposes of the UN Charter. We reaffirm that BRICS member states do not impose or support non-UN Security Council authorised sanctions that are contrary to international law,” the declaration said.

    BRICS leaders also voiced concern over ongoing conflicts in various regions and the current state of polarisation and fragmentation in the global order. They expressed alarm at the increasing global military spending, which they said comes at the cost of financing development in the Global South.

    The BRICS Summit, hosted by Brazil, has brought together leaders from Brazil, Russia, India, China and South Africa, along with new members Egypt, Ethiopia, Iran, the UAE and Indonesia.

    ANI

  • MIL-OSI Russia: To employees and veterans of JSC “Kurgan Machine-Building Plant”

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – Government of the Russian Federation –

    An important disclaimer is at the bottom of this article.

    July 6 marks the 75th anniversary of the foundation of Kurganmashzavod.

    Dear friends!

    I congratulate you on this significant date – the 75th anniversary of the foundation of the Kurgan Machine-Building Plant.

    Your enterprise has made a great contribution to the development of domestic mechanical engineering and strengthening the country’s defense capability. Over the years, the labor of many generations of engineers, designers, and skilled workers has created the only enterprise in the country for the production of infantry and airborne combat vehicles.

    Today, the unique technical potential of the plant allows it to fulfill state defense orders in a high-quality and timely manner, and to produce the latest models of military equipment that confirm their reliability and combat characteristics during a special military operation.

    It is important that you use progressive design solutions and modern materials. You pay special attention to the implementation of innovations, increasing labor productivity. This allows you to increase the volume of high-tech products for civilian and dual purposes.

    I am confident that love for their profession and a responsible attitude to work will allow the team of the Kurgan Machine-Building Plant to continue to ensure the protection of national interests and the defense capability of our state.

    I wish you and your families success in your work, health, happiness and prosperity.

    M. Mishustin

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: The government approved a resolution on the establishment of the Donetsk Steppe Nature Reserve

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – Government of the Russian Federation –

    An important disclaimer is at the bottom of this article.

    Resolution of July 1, 2025 No. 992

    Document

    Resolution of July 1, 2025 No. 992

    The state nature reserve “Donetsk Steppe” has been created in a number of territories of the Donetsk People’s Republic and Zaporizhia Oblast. The decree on this was signed by the Chairman of the Government Mikhail Mishustin.

    The new specially protected natural area includes 4 clusters – “Kalmiussky”, “Stone Graves”, “Chalk Flora” and “Khomutovskaya Steppe”, which were previously parts of the steppe reserve created in 1961. Their total area is more than 3 thousand hectares.

    The clusters represent different types of steppe landscapes, each with its own species of flora and fauna. Many of them are listed in the Red Book of Russia, including the Schrenk tulip, golden eagle, osprey, white-tailed eagle, demoiselle crane and others.

    The creation of the reserve will ensure a special protection regime for a significant number of rare and endangered species of plants, birds and animals, and will contribute to an increase in their numbers and natural migration.

    The work is being carried out within the framework of the implementation of the state program “Environmental Protection” and the program of socio-economic development of the Donetsk People’s Republic, Lugansk People’s Republic, Zaporizhia and Kherson regions.

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Mikhail Mishustin congratulated workers and veterans of the sea and river fleet on their professional holiday

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – Government of the Russian Federation –

    An important disclaimer is at the bottom of this article.

    July 6, 2025 marks the professional holiday – Day of Workers of the Sea and River Fleet.

    Dear friends!

    I congratulate you on the Day of the Sea and River Fleet.

    The professions of a sailor and a riverman are respected in society. They require high professionalism, responsibility and discipline. It is largely due to your work that the Northern Sea Route, the capacity of sea ports, the system of inland waterways are developing, and both foreign trade and transportation within the country are carried out.

    Today, the industry is successfully solving new problems. Active work is underway to develop the Arctic and Far Eastern seas, and to develop waterways within international transport corridors. Much is being done to digitalize shipping, which allows for increasing export and transit opportunities, improving the quality and safety of passenger and freight transportation.

    I would like to express special gratitude to all fleet veterans. In the year of the 80th anniversary of the Victory in the Great Patriotic War, we remember with deep respect those who participated in the defense of Leningrad and Moscow, Sevastopol and Stalingrad, fought at the walls of Novorossiysk and in Kerch. Their fortitude and courage are an example for the new generation of specialists.

    On this festive day, I wish you all success, health, and prosperity.

    M. Mishustin

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • PM Modi meets Malaysian PM Anwar Ibrahim, Cuba’s President Diaz-Canel on sidelines of BRICS

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Sunday held a bilateral meeting with his Malaysian counterpart, Anwar Ibrahim, on the sidelines of the 17th BRICS summit in Rio de Janeiro, Brazil.

    PM Modi also met Cuba’s President Miguel Diaz-Canel on the sidelines of the summit. External Affairs Minister S. Jaishankar, Foreign Secretary Vikram Misri and other officials were present at the meeting.

    The BRICS Summit, hosted by Brazil, has brought together leaders from Brazil, Russia, India, China and South Africa, along with new members Egypt, Ethiopia, Iran, the UAE and Indonesia.

    Brazil assumed the BRICS Chairship on January 1, 2025, with the theme ‘Strengthening Global South Cooperation for More Inclusive and Sustainable Governance’.

    India will host the 18th BRICS Summit in 2026.

    -ANI

  • You cannot be serious! Wimbledon line-calling system under fire after glitch

    Source: Government of India

    Source: Government of India (4)

    Wimbledon‘s automated line-calling technology came under fire on Sunday after an embarrassing malfunction robbed Anastasia Pavlyuchenkova of a point during her last-16 victory over Britain’s Sonay Kartal on Centre Court.

    Russian Pavlyuchenkova had reached game point at 4-4 in the opening set and Kartal hit a shot that looked clearly long but there was no call and Pavlyuchenkova stopped play.

    An automated voice call of “STOP STOP” rang out and confusion reigned as umpire Nico Helwerth sought advice from tournament organisers via telephone.

    Television replays showed that Kartal’s shot was clearly out, yet Helwerth ruled that because the Hawk-Eye technology had not tracked the ball, the point must be replayed.

    Pavlyuchenkova went on to have her serve broken and was clearly fuming at the changeover, telling the umpire: “Because she is local, they can say whatever. You took the game away from me. They stole the game from me. You stole the game from me”.

    The 34-year-old quickly regrouped and showed the resilience that has marked her long career by reaching the quarter-finals with a 7-6(3) 6-4 win.

    But the main talking point was the first big glitch of Wimbledon‘s automated line-calling system that has replaced human line judges this year.

    OPERATOR ERROR

    Tournament officials later said the problem had been caused by operator error and that the umpire had followed the correct protocols, although Pavlyuchenkova felt that he should have intervened to correct an obvious mistake.

    “We were waiting for a decision as the system was down, but I was expecting to hear if they said the ball was in or out,” Pavlyuchenkova told reporters.

    “Instead they just said, replay the point. It was tricky especially as it was a very crucial moment in the match.

    “I expected a different decision. I just thought also the chair umpire could take the initiative. That’s why he’s there sitting on the chair. He also saw it (was) out, he told me after the match. I thought he would do that, but he didn’t.

    “I think it’s also difficult for him. He probably was scared to take such a big decision.”

    Asked how she would have felt if the point had cost her the match, Pavlyuchenkova raised a smile: “I would just say that I hate Wimbledon and never come back here.”

    KARTAL UNSIGHTED

    Kartal said she had been unsighted as to whether her shot was out and was equally confused at the time.

    “That situation is a rarity. I don’t think it’s really ever happened,” she said. “It’s tough luck. What can you do? The umpire is trying his best. I think he handled it fine.”

    Pavlyuchenkova, who felt a back-up system should be in place, is not the first person this week to question the automated line-calling system.

    Britain’s Emma Raducanu claimed there were wrong calls during her loss to Aryna Sabalenka.

    “No, I don’t (trust the system) — I think the other players would say the same thing, there were some pretty dodgy ones but what can you do?,” she said after her defeat.

    Britain’s Jack Draper also believed it was not 100% accurate while Swiss player Belinda Bencic said this week that it was a hot topic in the locker rooms.

    Pavlyuchenkova said it was something that needed to be addressed.

    “I think since we have already automatic line-calling and so much invested into this, we should probably look into something else to have better decisions on it,” she said.

    -Reuters

  • You cannot be serious! Wimbledon line-calling system under fire after glitch

    Source: Government of India

    Source: Government of India (4)

    Wimbledon‘s automated line-calling technology came under fire on Sunday after an embarrassing malfunction robbed Anastasia Pavlyuchenkova of a point during her last-16 victory over Britain’s Sonay Kartal on Centre Court.

    Russian Pavlyuchenkova had reached game point at 4-4 in the opening set and Kartal hit a shot that looked clearly long but there was no call and Pavlyuchenkova stopped play.

    An automated voice call of “STOP STOP” rang out and confusion reigned as umpire Nico Helwerth sought advice from tournament organisers via telephone.

    Television replays showed that Kartal’s shot was clearly out, yet Helwerth ruled that because the Hawk-Eye technology had not tracked the ball, the point must be replayed.

    Pavlyuchenkova went on to have her serve broken and was clearly fuming at the changeover, telling the umpire: “Because she is local, they can say whatever. You took the game away from me. They stole the game from me. You stole the game from me”.

    The 34-year-old quickly regrouped and showed the resilience that has marked her long career by reaching the quarter-finals with a 7-6(3) 6-4 win.

    But the main talking point was the first big glitch of Wimbledon‘s automated line-calling system that has replaced human line judges this year.

    OPERATOR ERROR

    Tournament officials later said the problem had been caused by operator error and that the umpire had followed the correct protocols, although Pavlyuchenkova felt that he should have intervened to correct an obvious mistake.

    “We were waiting for a decision as the system was down, but I was expecting to hear if they said the ball was in or out,” Pavlyuchenkova told reporters.

    “Instead they just said, replay the point. It was tricky especially as it was a very crucial moment in the match.

    “I expected a different decision. I just thought also the chair umpire could take the initiative. That’s why he’s there sitting on the chair. He also saw it (was) out, he told me after the match. I thought he would do that, but he didn’t.

    “I think it’s also difficult for him. He probably was scared to take such a big decision.”

    Asked how she would have felt if the point had cost her the match, Pavlyuchenkova raised a smile: “I would just say that I hate Wimbledon and never come back here.”

    KARTAL UNSIGHTED

    Kartal said she had been unsighted as to whether her shot was out and was equally confused at the time.

    “That situation is a rarity. I don’t think it’s really ever happened,” she said. “It’s tough luck. What can you do? The umpire is trying his best. I think he handled it fine.”

    Pavlyuchenkova, who felt a back-up system should be in place, is not the first person this week to question the automated line-calling system.

    Britain’s Emma Raducanu claimed there were wrong calls during her loss to Aryna Sabalenka.

    “No, I don’t (trust the system) — I think the other players would say the same thing, there were some pretty dodgy ones but what can you do?,” she said after her defeat.

    Britain’s Jack Draper also believed it was not 100% accurate while Swiss player Belinda Bencic said this week that it was a hot topic in the locker rooms.

    Pavlyuchenkova said it was something that needed to be addressed.

    “I think since we have already automatic line-calling and so much invested into this, we should probably look into something else to have better decisions on it,” she said.

    -Reuters

  • You cannot be serious! Wimbledon line-calling system under fire after glitch

    Source: Government of India

    Source: Government of India (4)

    Wimbledon‘s automated line-calling technology came under fire on Sunday after an embarrassing malfunction robbed Anastasia Pavlyuchenkova of a point during her last-16 victory over Britain’s Sonay Kartal on Centre Court.

    Russian Pavlyuchenkova had reached game point at 4-4 in the opening set and Kartal hit a shot that looked clearly long but there was no call and Pavlyuchenkova stopped play.

    An automated voice call of “STOP STOP” rang out and confusion reigned as umpire Nico Helwerth sought advice from tournament organisers via telephone.

    Television replays showed that Kartal’s shot was clearly out, yet Helwerth ruled that because the Hawk-Eye technology had not tracked the ball, the point must be replayed.

    Pavlyuchenkova went on to have her serve broken and was clearly fuming at the changeover, telling the umpire: “Because she is local, they can say whatever. You took the game away from me. They stole the game from me. You stole the game from me”.

    The 34-year-old quickly regrouped and showed the resilience that has marked her long career by reaching the quarter-finals with a 7-6(3) 6-4 win.

    But the main talking point was the first big glitch of Wimbledon‘s automated line-calling system that has replaced human line judges this year.

    OPERATOR ERROR

    Tournament officials later said the problem had been caused by operator error and that the umpire had followed the correct protocols, although Pavlyuchenkova felt that he should have intervened to correct an obvious mistake.

    “We were waiting for a decision as the system was down, but I was expecting to hear if they said the ball was in or out,” Pavlyuchenkova told reporters.

    “Instead they just said, replay the point. It was tricky especially as it was a very crucial moment in the match.

    “I expected a different decision. I just thought also the chair umpire could take the initiative. That’s why he’s there sitting on the chair. He also saw it (was) out, he told me after the match. I thought he would do that, but he didn’t.

    “I think it’s also difficult for him. He probably was scared to take such a big decision.”

    Asked how she would have felt if the point had cost her the match, Pavlyuchenkova raised a smile: “I would just say that I hate Wimbledon and never come back here.”

    KARTAL UNSIGHTED

    Kartal said she had been unsighted as to whether her shot was out and was equally confused at the time.

    “That situation is a rarity. I don’t think it’s really ever happened,” she said. “It’s tough luck. What can you do? The umpire is trying his best. I think he handled it fine.”

    Pavlyuchenkova, who felt a back-up system should be in place, is not the first person this week to question the automated line-calling system.

    Britain’s Emma Raducanu claimed there were wrong calls during her loss to Aryna Sabalenka.

    “No, I don’t (trust the system) — I think the other players would say the same thing, there were some pretty dodgy ones but what can you do?,” she said after her defeat.

    Britain’s Jack Draper also believed it was not 100% accurate while Swiss player Belinda Bencic said this week that it was a hot topic in the locker rooms.

    Pavlyuchenkova said it was something that needed to be addressed.

    “I think since we have already automatic line-calling and so much invested into this, we should probably look into something else to have better decisions on it,” she said.

    -Reuters

  • You cannot be serious! Wimbledon line-calling system under fire after glitch

    Source: Government of India

    Source: Government of India (4)

    Wimbledon‘s automated line-calling technology came under fire on Sunday after an embarrassing malfunction robbed Anastasia Pavlyuchenkova of a point during her last-16 victory over Britain’s Sonay Kartal on Centre Court.

    Russian Pavlyuchenkova had reached game point at 4-4 in the opening set and Kartal hit a shot that looked clearly long but there was no call and Pavlyuchenkova stopped play.

    An automated voice call of “STOP STOP” rang out and confusion reigned as umpire Nico Helwerth sought advice from tournament organisers via telephone.

    Television replays showed that Kartal’s shot was clearly out, yet Helwerth ruled that because the Hawk-Eye technology had not tracked the ball, the point must be replayed.

    Pavlyuchenkova went on to have her serve broken and was clearly fuming at the changeover, telling the umpire: “Because she is local, they can say whatever. You took the game away from me. They stole the game from me. You stole the game from me”.

    The 34-year-old quickly regrouped and showed the resilience that has marked her long career by reaching the quarter-finals with a 7-6(3) 6-4 win.

    But the main talking point was the first big glitch of Wimbledon‘s automated line-calling system that has replaced human line judges this year.

    OPERATOR ERROR

    Tournament officials later said the problem had been caused by operator error and that the umpire had followed the correct protocols, although Pavlyuchenkova felt that he should have intervened to correct an obvious mistake.

    “We were waiting for a decision as the system was down, but I was expecting to hear if they said the ball was in or out,” Pavlyuchenkova told reporters.

    “Instead they just said, replay the point. It was tricky especially as it was a very crucial moment in the match.

    “I expected a different decision. I just thought also the chair umpire could take the initiative. That’s why he’s there sitting on the chair. He also saw it (was) out, he told me after the match. I thought he would do that, but he didn’t.

    “I think it’s also difficult for him. He probably was scared to take such a big decision.”

    Asked how she would have felt if the point had cost her the match, Pavlyuchenkova raised a smile: “I would just say that I hate Wimbledon and never come back here.”

    KARTAL UNSIGHTED

    Kartal said she had been unsighted as to whether her shot was out and was equally confused at the time.

    “That situation is a rarity. I don’t think it’s really ever happened,” she said. “It’s tough luck. What can you do? The umpire is trying his best. I think he handled it fine.”

    Pavlyuchenkova, who felt a back-up system should be in place, is not the first person this week to question the automated line-calling system.

    Britain’s Emma Raducanu claimed there were wrong calls during her loss to Aryna Sabalenka.

    “No, I don’t (trust the system) — I think the other players would say the same thing, there were some pretty dodgy ones but what can you do?,” she said after her defeat.

    Britain’s Jack Draper also believed it was not 100% accurate while Swiss player Belinda Bencic said this week that it was a hot topic in the locker rooms.

    Pavlyuchenkova said it was something that needed to be addressed.

    “I think since we have already automatic line-calling and so much invested into this, we should probably look into something else to have better decisions on it,” she said.

    -Reuters

  • Alcaraz resists red-hot Rublev to reach Wimbledon quarter-finals

    Source: Government of India

    Source: Government of India (4)

    Carlos Alcaraz came through a ferocious fourth-round firefight against a red-hot Andrey Rublev to win 6-7(5) 6-3 6-4 6-4 on Centre Court and keep his bid for a third successive Wimbledon title on track on Sunday.

    The Spanish second seed stuttered in his opening three rounds but found his best form to eventually subdue an inspired opponent who once again came up short against the very best.

    Rublev rocked Alcaraz by roaring into a 4-1 lead only to be pegged back but the Russian produced some astonishing tennis to snatch the tiebreak and move ahead.

    Alcaraz never looked ruffled though and levelled the match after Rublev double-faulted on a break point. Rublev continued throwing everything in his arsenal at the champion in the third set but paid for not taking some early break points as Alcaraz found another gear.

    Alcaraz looked impregnable in the fourth set and a single break of serve was enough to seal a 22nd successive match win and set up a last-eight clash with Britain’s Cameron Norrie.

    “Andrey is one of the most powerful players we have on Tour and is so aggressive with the ball. It’s really difficult to face him, he forces you to the limit on each point,” Alcaraz, bidding to become only the fourth man to win back-to-back French Open and Wimbledon titles multiple times, said on court.

    “Really happy with the way I moved and played intelligent and smart tactically. A really good match all round.”

    With so many seeds having fallen early, this was the first match between top-20 players in the men’s singles this year and it did not disappoint as the quality scaled rare heights.

    Rublev, 27, has barely been outside of the top 10 since 2022 but has never got close to winning a Grand Slam, losing all 10 quarter-finals that he has contested.

    The 14th seed must have sighed when he saw Alcaraz in his way in the fourth round, but he came out in positive fashion, off-loading rockets at the five-time Grand Slam champion.

    With the roof closed after earlier thunderstorms the noise of the ball striking strings sounded like rifle shots.

    Rublev hit harder, then harder still and at 5-5 in the opening set launched an outrageous backhand winner off a full-blooded Alcaraz forehand and then followed with a powerful forehand of his own to the baseline to move a set ahead.

    He barely did anything wrong after that but Alcaraz, finally clicking into gear after three scratchy wins, showed why taking the title off him will be such a tough task.

    The turning point came at 3-3 in the third set when Rublev, attempting to save a break point, sent Alcaraz sliding from side to side with a barrage of power only for the Spaniard to whip a forehand cross court winner, before cupping his ear to the crowd who rose as one to salute the moment of genius.

    Rublev stuck manfully to his task but he was powerless to prevent an 11th loss from 11 matches against top-five opponents at a Grand Slam.

    -REUTERS

  • EAM Jaishankar meets Russian Foreign Minister Lavrov, discusses bilateral cooperation

    Source: Government of India

    Source: Government of India (4)

    External Affairs Minister (EAM) S. Jaishankar on Sunday met Russian Foreign Minister Sergey Lavrov on the sidelines of the 2025 BRICS summit, during which the two leaders discussed bilateral cooperation among other key issues.

    “Good to meet with FM Sergey Lavrov of Russia on the sidelines of #BRICS2025. Discussed bilateral cooperation, West Asia, BRICS and SCO”, the EAM said in a post on X.

    Russia’s Ministry of Foreign Affairs said on X, “Russia’s Foreign Minister Sergey Lavrov and Minister of External Affairs of India @DrSJaishankar hold a meeting on the sidelines of the XVII #BRICS Summit. Rio de Janeiro, July 6.”

    Jaishankar also shared a photo with the Russian Foreign Minister.

    The meeting took place as BRICS leaders condemned the April 22 terrorist attack in Pahalgam, where 26 people were killed. In response, India’s armed forces carried out Operation Sindoor, targeting terror infrastructure in Pakistan and Pakistan-occupied Kashmir.

    Notably, Russia, besides condemning the terrorist attack in Pahalgam, maintained that it stands in solidarity with India in eliminating terrorism in all its forms and manifestations.

    Moscow’s stand was conveyed in May this year when an all-party delegation from India, led by DMK MP Kanimozhi Karunanidhi, met senior members of the Russian Federation Council, including Andrey Denisov, First Deputy Chair of the Committee on International Affairs, in Moscow to reaffirm the united stand against terrorism.

    During that meeting, the Russian side strongly condemned the Pahalgam attack and reiterated its solidarity with India in the global fight against terrorism in all its forms.

    The visit was part of India’s unprecedented diplomatic campaign to expose Pakistan’s sustained role in cross-border terrorism following the April 22 Pahalgam attack.

    —IANS

     

  • MIL-OSI Russia: All of Russia is a united and united people’s front – Russian President V. Putin

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    Moscow, July 6 /Xinhua/ — Today, all of Russia is a united, cohesive people’s front. The main goal of Russians is to create a safe and peaceful future for Russia. This was stated on Sunday by Russian President Vladimir Putin at the forum “Everything for Victory!” organized by the All-Russian public movement “People’s Front “For Russia” /All-Russian People’s Front, ONF/.

    “The ONF has become a truly mass public movement thanks to the support of the overwhelming majority of Russian citizens, their desire to jointly defend the life principles and values that our ancestors passed on to us, to fight and work for a common result, national success, peace and the safety of our children,” noted V. Putin, pointing out that the ONF has become an effective institution of civil society, civil solidarity, consolidation, public participation and control for Russia.

    According to the Russian president, “Everything for Victory” is a historical call known and understood by every Russian, which was heard in the first days of the Great Patriotic War. “It has become a symbol of our time, the struggle for freedom and justice, the security of our native borders, for the right of the people of Russia to independently determine their own path of development. We will achieve this. And so it will be. Because together we are a colossal, indestructible force in our rightness and internal unity,” V. Putin emphasized.

    “Today, the entire country is a united, cohesive people’s front. And your initiatives, concern, energy, daily work should be aimed at giving millions of people the opportunity to contribute to the Victory, subordinated to our main goal – a safe and peaceful future for Russia,” added the head of the Russian state. -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Economics: New Development Bank’s Board of Governors Convened its 10th Annual Meeting in Rio de Janeiro

    Source: New Development Bank

    On July 5, 2025, the Board of Governors (Board, BoG) of the New Development Bank (NDB) convened the Business Session of its Tenth Annual Meeting in Rio de Janeiro, Brazil, under the theme of “Driving Development: Fostering Innovation, Cooperation, and Impact through a Multilateral Development Bank for the Global South”.

    The BoG Meeting was chaired by H.E. Mr. Fernando Haddad, the Minister of Finance of the Federative Republic of Brazil and the NDB Governor for Brazil.

    The Board welcomed the achievements of NDB in the past year and provided guidance in steering the New Development Bank towards a path of sustainable growth in the future at the juncture of its Ten-year Anniversary.

    The Board of Governors officially admitted Colombia and Uzbekistan as borrowing members of the New Development Bank.

    The Board of Governors discussed the General Strategy of the Bank and its implementation and provided guidance thereon.

    The Board of Governors adopted its resolution on appointment of incoming Vice-President of the New Development Bank. Mr. Roman Serov was appointed as Vice-President of NDB from September 7, 2025, to September 6, 2030.

    The Board elected H.E. Mr. Anton Siluanov, the Minister of Finance of the Russian Federation and the NDB Governor for Russia as the next Chairperson of the Board of Governors. H.E. Mrs. Nirmala Sitharaman, the Minister of Finance of the Republic of India and the NDB Governor for India was elected as the next Vice-Chairperson of the Board of Governors. It was agreed that they would hold their respective offices until the end of the Eleventh Annual Meeting of the Board of Governors in 2026.

    The Board of Governors decided that Russia will host the Eleventh Annual Meeting of the New Development Bank in 2026.

    H.E. Mr. Anton Siluanov, the Minister of Finance of the Russian Federation and the NDB Governor for Russia; H.E. Mrs. Nirmala Sitharaman, the Minister of Finance of the Republic of India and the NDB Governor for India; H.E. Mr. LAN Fo’an, the Minister of Finance of the People’s Republic of China and the NDB Governor for China; Dr. David Masondo, Deputy Minister of Finance of the Republic of South Africa and the NDB Alternate Governor for South Africa; Mr. Md. Shahriar Kader Siddiky, Secretary, Economic Relations Division, Ministry of Finance of the People’s Republic of Bangladesh and the NDB Alternate Governor for Bangladesh; Mr. Mr. Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs and the NDB Governor for the United Arab Emirates; Mr. Atter Hannoura, Director of the PPP Central Unit, Ministry of Finance of Egypt of the Arab Republic of Egypt and the NDB Temporary Alternate Governor for Egypt, participated in the Meeting.

    Background Information

    New Development Bank was established by Brazil, Russia, India, China and South Africa to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging market economies and developing countries, complementing the existing efforts of multilateral and regional financial institutions for global growth and development.

    For more information on NDB, please visit www.ndb.int.

    MIL OSI Economics –