Oil Prices Hit 5-Month Highs
In the oil market, the upward trend continues at the beginning of the new week, with prices rising to nearly 5-month highs due to increasing geopolitical risks related to supply disruptions
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Sweden on Friday called off its search for a suspected foreign submarine in the sea south of Stockholm.
The week-long operation reminiscent of the days of the Cold War had been investigating what the Swedish military called "foreign underwater activities". According to Swedish media reports, the country’s Navy vessels and patrol aircraft had been searching the Stockholm archipelago for a suspected damaged Russian submarine.
Sweden’s Armed Forces said in a statement Navy vessels and amphibious forces have been ordered to end their search and have returned to base but some ground forces will remain in the area.
Russia has denied any of its Navy vessels was involved after Swedish media last week carried allegations emergency radio calls in Russian were intercepted.
A Russian Defence Ministry spokesman on Friday said Sweden's naval mobilisation raised tensions in the Baltic and may result in “undermining the foundations of marine economic activity in the region”.
“The chances to find Russian trace in this area are slim to none,” according to the spokesman.
The Swedish naval mobilisation was the largest since the 1980s when the country frequently conducted hunts for suspected Russian submarines along its Baltic Sea coast.
Sweden started dismantling its anti-submarine force after the end of the Cold War as part of cuts in the country’s defence spending and shift in focus from territorial defence to international peacekeeping operations.
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US Senator Lindsey Graham expressed confidence that Congress will soon approve an aid package for Ukraine, albeit likely in the form of a low-interest loan rather than grants.
The Israeli military conducted a large-scale operation at the Al-Shifa hospital complex in the Gaza Strip, resulting in the deaths of dozens of Palestinian fighters and the arrest of over 200 individuals
US Vice President Kamala Harris has denounced former President Donald Trump as a "threat" to democracy and fundamental freedoms, vowing to address key issues such as reproductive rights, voting rights, and gun violence
Turkish President Recep Erdogan has joined a chorus of world leaders in congratulating Vladimir Putin on his landslide victory in Russia's presidential election
Amidst growing pressure from farmers and member states, the European Union is poised to reverse tariffs on grain imports from Russia and Belarus
The Belgian Presidency of the EU is spearheading efforts to fully integrate Bulgaria and Romania into the Schengen area
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Nexo Is Suing Bulgaria For Over $3 Billion