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Sources: RPT-Iran explores oil sales to Japan; buyers want longer sanctions waivers
Iran has started talks with Japanese firms under a U.S. sanction waiver that allows?it resume oil sales. However, prospective buyers are?seeking longer waivers and reassurances regarding ship safety. The waiver was part of the 60-day talks between Washington and Tehran, and it expires on August 21. Two Iranian sources declined to identify themselves due to the sensitive nature of the matter. They said that three Japanese buyers are considering possible crude oil purchases in Iran. This would be their first purchase since 2019. A Western industry source with knowledge of the situation said that Japanese and Iranian officials were initially in talks about oil sales. Unknown to him was any such issue. An official from Japan's Ministry of Economy, Trade and Industry, which oversees the fuel supply infrastructure, confirmed that he had no knowledge of it. The U.S. Treasury and Japan's Foreign Ministry did not respond immediately to comments. Japan, South Korea and European countries stopped purchasing Iranian oil after U.S. sanctions were tightened in 2018 following President Donald Trump’s withdrawal from the Iran nuclear agreement. China is Iran's largest buyer in recent times. HORMUZ RISKS A separate METI official said in June that any Japanese purchases would be the responsibility of private companies. However, it was not clear whether such deals could proceed due to shipping times and current contracts. Officials added that the safety of all tanker trips would have to be guaranteed. According to a senior Iranian official, any agreement would require that the U.S. extend its current waiver due to the time it takes for shipping between Japan and Iran. Officials added that cargos will be loaded on Iran's Kharg Island using?Japanese operated tankers. An Iranian senior oil ministry official said that Iran's national company NIOC has approached its traditional customers, including Japan, and asked them to resume purchasing if a deal is concluded and sanctions are lifted. The Iranian oil ministry has not responded to a?request for comment. It is far from certain that the Strait of Hormuz will be safe for ships to pass through once a permanent peace agreement between Washington and Tehran is signed. Last week, Iranian forces attacked a container ship in the Strait of Hormuz. The?elite Revolutionary Guards of Iran have stated that all transits of the strait must be cleared first with them. According to the U.N. shipping agency, there are an estimated 80 floating mines in the central part the waterway. A senior official with a major Japanese oil refining company said that securing insurance would be the greatest challenge. Trade sources and analysts said that the current temporary U.S. sanction waiver is unlikely to attract orders from Asian refiners with large inventories, which leaves independent Chinese refineries, as the primary buyer.
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EasyJet's journey from launch to takeover:
The announcement?on Sunday of a PS5,50 billion ($7.34billion) deal by U.S. investment company Castlelake to acquire British budget airline easyJet would be a new chapter for the carrier's 31-year history. Here's an overview of the?major milestones in?easyJet history: Stelios Ioannou, founder of the company, launches low-cost flights from London Luton Airport in Scotland to Glasgow and Edinburgh. 2002 Acquisition of rival Go Fly. Acquisition of rival GB Airways. 2011 - 2013 Modernising fleet with 135 Airbus aircraft. 2020 COVID-19? Forces 4,500 job reductions and fleet shrinkage. Rejects Wizz Air's takeover offer and raises $1.7 Billion from existing shareholders February - March 2020 EasyJet warns that fuel shortages and higher fares are caused by the Iran conflict. May 29, 2026 Castlelake, a Minneapolis-based aviation investment firm, has revealed that it is "considering" an offer to buy EasyJet. June 12, 2026 Castlelake?privately?submits a takeover proposal of PS5.60 per share. June 16, 2026 EasyJet rejects Castlelake’s bid June 17, 2026 Castlelake is back with a PS6.00 per share private bid. June 20, 2026 EasyJet's board rejects Castlelake’s second proposal. This prompts it to raise its private offer to PS6.25 per share. June 21, 2026 EasyJet's third proposal is rejected by Castlelake, which EasyJet calls "cheap". June 22, 2026 Castlelake makes its PS6.25 per share offer public and claims that the structure will satisfy EU?majority ownership regulations. June 23, 2026 Castlelake submits a private fourth offer of PS6.50 per share, easyJet revealed later. June 25, 2026 EasyJet has said that it rejected the bid, but is willing to share some internal data with Castlelake if they can get a better bid. The deadline is July 5. July 5, 2026 EasyJet, Castlelake and Castlelake announced a deal in principle for PS6.90 per share. This would value the airline at PS5.5 Billion on a fully-diluted basis. $1 = 0.7490 pounds (reporting by Neeshita B. and Nithyashree B. in Bengaluru; additional reporting by Bipasha D.; editing by Rashmi. Aich. and Cynthia Osterman.)
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Wall St Week Ahead: Investors watch for Fed clues and earnings signs, as tech wobbles
Investors will be looking for clues this week about the?likelihood of imminent interest-rate increases and the early signs of an important earnings season to gauge the strength of U.S. stocks'?rally. This week, the second half of the year 2026 began'much like the first half did' with the rocky performance of "heavyweight" technology shares affecting major indexes. The minutes of the Federal Reserve's last month's meeting as well as earnings reports from Delta Air Lines, PepsiCo and other companies could be new indicators for a market that has been shaky in recent weeks due to its tech-fueled rally. The market has seen gains over the last few months thanks to tech shares, and in particular semiconductors. The benchmark S&P 500 rose 14.9% during the second quarter, which ended on Tuesday. This was its best quarter since 2019. In recent months, this group has seen a dramatic swing, with steep drops to end the week. Over the last month, other sectors such as financial, industrial, and healthcare stocks have done well, giving investors hope of a healthy market rotation that will lead to broader gains. Joe Mazzola is the head trading and derivatives strategist at Charles Schwab. He said, "I'll be watching that over the next few weeks to see if or not this broadening continues." If you start to see a prolonged pullback of some technology winners, will that mean the market is going backwards? INVESTORS SEEK RATES CLUES FROM FED MINUTES. The outlook for interest rate?has changed from expectations of equity-friendly rates cuts at the beginning of the year to projections for hikes in the next months. These expectations of rate hikes were slightly reduced on Thursday after a less-than-expected job report. Following the Federal Reserve's meeting last month, which was led for the first time by Kevin Warsh as chairperson, hawkish bets were on the rise. He said the Fed would be focused on price stability and inflation that is above its 2% target. The minutes of that meeting are expected to be released on Wednesday. Warsh warned that the Fed would not be able to control the markets and had ceased providing any guidance as to what it might do in the short term. This could make the minutes of future Fed meetings more significant. Matthew Miskin is the co-chief investment strategy at Manulife John Hancock Investments. Investors and markets will be asking: what is the new Fed Chairman and the updated (Fed Policymaking Body) looking for in order to determine where rates are headed from here? Investors said that a key issue was how Fed policymakers viewed the inflationary impact energy prices. Energy prices had been declining since the spikes caused by the Iran war. The extent of the divisions among Fed officials is another important topic. Bonds can be more attractive to investors than stocks if interest rates rise. This is because higher interest rates increase borrowing costs for both consumers and businesses. LSEG data showed that Fed fund futures at the end of Thursday indicated roughly equal odds that?the Central Bank would raise rates before its September meeting. The Labor Department's data on Thursday showed that U.S. employment growth was slowed dramatically in June. This helped to calm some fears of a rate hike. "If the Fed becomes more restrictive and begins a tightening process, this is a risk for the market and valuations", said James Ragan. He is co-CIO at D.A. Davidson. "I think it's important to get more information about what the Fed is thinking." SEASONAL PIVOTAL EARNINGS The release of services and manufacturing activity could clarify the inflation trend in a week with relatively few economic data releases. In recent months, stocks have recovered from the declines caused by the U.S./Israeli conflict over Iran. The S&P 500 has risen more than 9% since 2026 while the Nasdaq Composite, which is heavily tech-oriented, has risen 11%. The market's rise was fueled by the surprising strength of first-quarter corporate earnings. This has raised the bar as the second-quarter report season heats up this month. Next week, two early reports will be released: Delta and the snack and beverage manufacturer PepsiCo. Both offer different perspectives regarding consumer spending trends. According to LSEG, IBES, the S&P 500 is expected to grow earnings in the second quarter by over 24%. Keith Lerner is the chief investment officer of Truist Advisory Services. He said that if the north star is earnings, then the most important thing to do for earnings season is to confirm the earnings trajectory this year, and ensure the upward momentum will continue into next year. (Reporting and editing by Michelle Price, David Gregorio and Lewis Krauskopf)
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As the far-right AfD aims for power, thousands of protesters in Germany are taking to the streets.
On Saturday, thousands of protesters blocked the roads leading to the annual conference of Germany's far right AfD in the eastern city?Erfurt. The party was re-electing the two leaders who had overseen the rise of the party as a national force. AfD’s two-day AfD conference was preceded by a large number of protesters, including unionists, civil societies and left-wing groups. AfD is Alternative for Germany. Protesters, surrounded by riot police wearing riot gear and seated in rows, blocked highways and roads that led to the convention center where the meeting was being held. Around 15,000 demonstrators were estimated by police to have taken part in the demonstrations around and within the eastern city. AfD re-elected Alice Weidel, Tino Chrupalla as party leaders. Under their leadership the AfD is now leading the national opinion polls over the conservatives of Chancellor Friedrich Merz. Opening speeches ridiculed and lambasted protesters as antidemocratic. The opening speeches mocked and lambasted the protesters as anti-democratic. Weidel stated, "This is our last chance to save this country." "More people want to join us in our fight against Germany's declining, the?fight for fatherland and our identity." Minutes before the AfD convention began, the AfD social media stream played a song entitled "Send them Back" to highlight the party's hardline on immigration. Vintage-style cards with slogans like "YOU WILL BE DEPORTED" were sold inside the convention centre. Bjoern Höecke, a controversial and radical leader of the SPD, offered a mixture of nostalgia and invective. He even pointed to the state of Germany’s motorway restrooms as an indication of societal malaise. "A great Germany would be a country where you don't have to worry about taking an evening stroll through the park. "A great Germany is one where apartment keys are left on the door of the building," he said. Leading in the Polls The conference comes ?ahead of elections in the eastern states of Saxony-Anhalt and Mecklenburg-Vorpommern that the AfD hopes will help pave the way for success at national level, a prospect that has alarmed its opponents. "We simply will not tolerate this, that fascism in Germany is on the increase," Georg Becker said, a spokeswoman for Widersetzen (Resist), an umbrella anti-AfD group that was behind?the Erfurt demonstrations. The AfD was formed more than a decade ago. It has used a mixture of nationalist language, called for stricter immigration policies, and appealed to voters who are frustrated by successive governments, and years of economic stagnation. Weidel stated that criminals and illegal immigrants have no place in Germany anymore. "We will deport these people firmly, because Germany deserves better." The AfD is accused by its opponents of promoting "racist policies" and attitudes that are incompatible with Germany’s democratic values. They also claim it threatens the constitutional order of the country. The mainstream parties have refused to work together, as part of a "firewall" policy designed to keep the AfD out of coalition government. AfD leaders have denied?opposing Germany’s democratic foundations. Earlier this year, they won a court order?ordering that the domestic intelligence service suspend its previous classification as an "extremist" party. Recent polls show that AfD supporters are as high as 29 percent, compared to Merz's conservative CDU/CSU. The former communist east is where the strongest support for the party system comes from. Surveys show that voters are most disillusioned with it. (Writing and reporting by James Mackenzie, Matthias Williams and Susanne Neumayer Remter; editing by Mark Potter).
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Authorities say that a major drone attack on the St Petersburg oil terminal and port was carried out by Ukraine.
Authorities in St Petersburg, Russia's second largest city and the surrounding Leningrad area said on Saturday that a major Ukrainian drone strike overnight had hit a local oil pipeline and port. Alexander Beglov, the Governor of St Petersburg, said that the city with a population of 6,000,000 had been subjected to a "large scale" drone attack. The city's oil storage terminal was also hit. He stated that there were no injuries and the aftermath had been handled. Alexander Drozdenko, Governor of the Leningrad Region, said that drones struck the port of Vysotsk on the Gulf of Finland. The port is located about 170 kilometers (105 miles), northwest of St Petersburg. The port is used to handle oil, grain and coal, as well as liquefied gas. Drozdenko stated that 72 drones were shot down in the Leningrad area. Ukraine has intensified its strikes against Russian energy infrastructure this year, leading to fuel shortages across parts of Russia. St Petersburg is about 900km (560miles) from Ukrainian-held territory.?Kyiv drones have occasionally attacked St Petersburg. The city's oil-terminal and a moored ship were among the targets during the St?Petersburg International Economic Forum held in June. The governor of Pskov Region, south?of St Petersburg said that more than 30 'drones were shot down overnight. He reported minor injuries and damage, including to the factory in Velikiye-Luki. Reporting by. Felix Light is the author. Mark Potter (editing by Felix Light)
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Yemen's Houthis warn Saudi Arabia of their targets in response to Iran's flight to Sanaa
Yemen's Houthis claimed on Friday that their forces had engaged Saudi "warplanes", which they claimed 'attempted to stop an Iranian civilian aircraft from landing at Sanaa International Airport', according to the military spokesperson for the group Yahya Saarea. Sarea, an Iran-aligned group, warned they would "target Saudi airports and vital interest on land and sea" if Saudi Arabia continued to violate Yemeni airspace. He added that flights between Sanaa, Iran and Tehran would continue despite "possible consequences". Al Masirah TV, a Houthi-run channel, reported on Friday that an Iranian plane landed in Sanaa to fly the group's delegation to Tehran for the funeral of Iran’s late Supreme leader Ayatollah Ali Khamenei. Other passengers included more than 200 patients. Saudi Arabia led the military coalition which intervened in Yemen after the Iran-aligned Houthis took over the capital Sanaa in 2015. The Saudi-led coalition claimed early on Saturday that the Houthis' statements against the Kingdom were an attempt to "divert the attention" away from the group's "violations". It warned it would react firmly with "unprecedented force" against any attempts to attack the kingdom or violate Yemen's sovereignty. The Houthis demonstrated their missile and drone capabilities in Yemen's?war by attacking Saudi Arabia, targeting oil installations and critical infrastructure. Reporting by Eman Abohassira, Menna Alaa el-Din and Editing by Louise Heavens Philippa Fletcher David Gregorio
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Heatwave disrupts Fourth of Jule events in eastern US
The Fourth of July festivities were disrupted by a 'dangerous heatwave' that swept across large swathes of the central and eastern U.S. The Great American State Fair, which was a major event in President Donald Trump's celebration of the 250th anniversary of the United States, was also affected by the heat. The Great American State Fair was temporarily closed Friday afternoon as temperatures reached 101° Fahrenheit (38° Celsius). The organizers said that they expect the fair to reopen by?5 pm, with modifications such as cooling tents and spritzing stations. The emergence of the "heat dome," a system of high pressure that traps hot air over a large area, caused record-breaking temperatures to spread from the Midwest to the east of the U.S. earlier this week. More than 185 million people, or more than half of the U.S. population, were under heat alerts on Friday. National Weather Service reported that on Friday there were heat alerts for over 185 million people, more than half of the?U.S. In some parts of the nation, heat indexes can reach up to 115 F (46 C). Forecasters and government officials warned that this heat wave could be deadly. The government urged Americans to be hydrated and seek shade when attending public events and gatherings during the Fourth of Independence weekend. There were cancellations of events along the Eastern Seaboard during the Fourth of July weekend. This is when Americans usually 'gather to barbecues, parades, and fireworks displays in celebration of the 1776 Declaration?of?Independence. The Salute to Independence Parade in?Philadelphia was canceled due to extreme heat. The decision was made after temperatures reached 103 F in Philadelphia on Thursday. This tied a record set back in 1901. Heat-related disruptions were also felt in other parts of the region. Haddon Township in New Jersey canceled its annual Fourth of July parade. Watertown, upstate New York, cancelled its Independence Day concert. Boston officials have delayed the entrance to an annual riverside celebration of fireworks by four hours. The event was originally scheduled to begin at noon, but now it will start at 4 p.m. Reporting by Ahmed Aboulenein, Washington; Nathan Layne, New York. Editing by Mark Porter and David Gregorio.
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Heatwave disrupts Fourth of Jule events in eastern US
The Fourth of July celebrations were ruined by a 'dangerous heatwave' that swept through much of central and eastern U.S. On Friday, the heat wave forced officials to cancel or postpone dozens parades, concerts, and fireworks displays in celebration of the 250th anniversary of America. The Great American State Fair, a centerpiece event of President Donald Trump's efforts to celebrate the 250th anniversary of the United States of America on the National Mall of Washington was temporarily closed on Friday afternoon due to temperatures of 101 degrees Fahrenheit. Organisers have said that it is expected to reopen, weather permitting, at?5 pm, with modifications such as cooling tents and misting station. The National Weather Service reported that record-breaking temperatures reached the east coast of the United States from the Midwest this week. Over 185 million people received heat alerts for Friday. In many areas, peak heat indexes could reach?up to 115 degrees Fahrenheit. Forecasters and government officials warned that the heat wave was potentially deadly. They urged Americans to celebrate the Fourth of July outdoors, stay hydrated and seek shade, and be on guard for signs of heat illness. At least seven states have reported event cancellations, including a "major Independence Day Parade" in Philadelphia, as well as "events" in Maryland's Takoma Park, and Loudoun County in Virginia. Ahmed Aboulenein reported from Washington, Nathan Layne from New York and Mark Porter edited the story.
Welcome to the 'New Russia:' How the Kremlin remade occupied Ukraine
Black smoke, burning tracks and blazing trains
The footage posted by Ukrainian fighters online documents their repeated sabotage attack on a vast rail system being constructed by Russia in the occupied territory of Ukraine. Their efforts aren't enough to stop the rapid industrial expansion of Moscow.
Orest, a Ukrainian fighter operating behind enemy lines, in the Donetsk Region, uses his military call sign for reasons of security. He said that the railroad was hundreds of kilometers long. "We're not all-powerful, unfortunately."
According to the Kremlin these occupied areas represent "Novorossiya", New Russia. It's a hive of activity.
A new investigation found that while Moscow is waging a brutal war against Ukrainian forces in the west, the country has been pouring hundreds and millions of dollars in a years-long aggressive buildup of transport and trading infrastructure in areas it?has captured to the east and south.
Reporting shows that the spending spree dwarfs other Russian regions' development funds and facilitates transport of troops, military equipment, grain, and mineral resources. Moscow also has a long-term objective in mind with the construction projects: to weave the seized territory into Russia. This includes the Donbas region, whose fate is at the center of the U.S.-backed peace talks.
Reporting provides the first detailed picture of how Russia-held Ukraine is changing under occupation. This analysis is based on the analysis of thousands satellite images, official Russian documents, public statements, freight and export data, and interviews with over three dozen Ukrainian officials.
Volodymyr Zelenskiy, Ukrainian president, used Crimea to illustrate the Russian infrastructure building in occupied territories. He said that the Russian investments in Crimea are only a "facade", and don't actually benefit the residents of the Ukrainian Peninsula, which Moscow annexed in 2014. In an interview, he stated that "it doesn't seem like a modern resort." "It is all militarized." Zelenskiy’s office did not respond to an inquiry for comments on the findings of the investigation.
Officials at the White House said that President Donald Trump wants to stop the senseless killing and is doing everything he can to bring an end to the war.
Dmitry Peskov, Kremlin spokesperson, said that the four territories were an integral part and "subjects" of Russia. He added: "It's written in the Constitution of the Country."
The construction of the Novorossiya Railways System is already underway. This system includes a 525 km (326 mile) planned line that will be completed in 2023, one year after Russia invaded Ukraine. The route will span the regions Donetsk, Luhansk (which comprise the Donbas), Zaporizhzhia, and Kherson.
In the meantime, the Novorossiya highway is carving its way through those seized territory as part of an 1,400 km superhighway "Azov Circle" loop which will connect these regions with Russia and strategic Crimea.
Under the Russian flag, occupied Ukrainian ports on the Sea of Azov (which connects the Black Sea to the inland Sea of Azov) that were mostly inactive during the early years of the conflict have been reopened and renovated. Satellite images from last August show that a new facility, about the size of a football field, has been built on the docks of Mariupol city in Donetsk during the Russian occupation. A mountain of coal-looking material is also visible in the area.
Satellite analysis conducted by used a machine learning model to scan through thousands of radar and optical images in order to identify major construction. The analysis found that between 2022-2025, more than 2,500 km worth of roads, highways, and railroads were built, upgraded, or repaired in the four occupied territory and nearby Russian regions.
According to Karolina HIRD, a Washington-based national security fellow with the Institute for the Study of War, the Kremlin's investment in infrastructure and its long-term nature show that it has no intention of returning the territories as part of a future peace agreement.
She said that "the way Russia invests heavily in the industry and economy of occupied Ukraine so it can reap profit off the occupation also financially entangles Ukraine with Russia."
This is a bad news for Ukraine, and its European allies. They insisted on Moscow returning the captured land, and rejected U.S. demands that Kyiv cede the entire Donbas to the United States as part of a deal to end this four-year conflict.
Russian auction documents reveal that Moscow also has put up for sale dozens of valuable commodity assets located in occupied areas. Documents from the Russian state auction show that Moscow has also put dozens of prized commodity assets in the occupied?areas up for sale.
The Russian Transport Ministry and Novorossiya Railways - a Russian state enterprise established in 2023 for the purpose of overseeing rail construction and maintenance on occupied territory - did not respond to questions about the status of infrastructure projects.
Moscow is not shy about its claim on eastern Ukraine and the southeastern part of the country, or its desire to combine the two regions into what it calls the motherland. Vladimir Putin also has big plans for the "Novorossiya", a term that refers to Russia's imperial past, which modern nationalists have adopted.
According to an online analysis of data from the government, Russia has allotted about $11.8 billion in federal cash between 2024-2026 to develop four occupied territories of Ukraine as part of its program of priority national development projects. The data show that this is nearly three times more than the money allotted to 20 other federal regions for similar projects.
Putin's vision for the territories was outlined in a speech he gave on the 30th of September to mark the third anniversary since their "reunification". The president claimed that the regions suffered from decades of neglect and the effects of war. He said that Russia has built 6,350 km worth of roads in the region over the past three years.
"A large-scale socio-economic program has been launched. It is essentially a programme of revitalizing our ancestral and historical Russian lands," declared?Putin.
Moscow controls about one fifth of Ukraine. This includes the majority of four regions, Donetsk Luhansk Zaporizhzhia, and Kherson. It has also formally claimed that all four regions are part of Russia.
Ukraine and its Western partners have condemned Russia's move towards annexing the territories as an illegal land grab.
According to the local and Moscow authorities, vehicles and trains transporting people and goods into and out of Ukraine can already circumvent the Crimean Bridge. The bridge was Russia's sole road and rail connection to Crimea. It allowed the transportation of troops, fuel, and equipment via the peninsula. The bridge has been a major chokepoint in the Russian military and commercial flows. Ukrainian strikes have caused delays and disruptions.
Vadym Skibiskyi, deputy head of Ukraine's HUR Military Intelligence Agency, which has been tracking enemy activity, said that the Russians were focusing on building up supply chains to support the war effort.
Infrastructure is the most important issue for Russians. "It is the transport infrastructure," said he.
SATELLITE IMAGERY REVEALS NEW RAILWAY
According to online statements made by Novorossiya Railways in August of last year and the Russian Rail Watchdog, since 2023 Russia has spent $425 million for the construction and maintenance the railway network within the occupied territory.
According to the official Russian media outlet, the centrepiece project is a main line connecting southern Russia with Crimea via occupied territories. The full cost was not specified.
Satellite images taken between July 2023 to November 2025 show the gradual process of a new section of line being laid. This 60-km link between the towns Novoselivka, Kolosky, and Donetsk Region, north of Mariupol.
An official of the Ukrainian intelligence service who monitors Russian activities said that this connection was an example of Russia building new rail connections further away from the front lines, at a safe distance from potential Ukrainian strikes, in order to deliver ammunition and military vehicle to its troops. Couldn't determine whether the line was in operation.
State tender documents reveal that the Russian roads program also absorbs hundreds of millions of dollar, with the Novorossiya Highway Project leading this charge.
According to Russia's official procurement website, 20 tenders totaling more than $214 millions have been awarded contractors. These projects are diverse, ranging from engineering studies to bridge maintenance. The Russian Transport Ministry announced late last year an additional $123 million will be spent on roads in 2026.
UKRAINE OFFICIAL : IT'S LIKE CRIMEA BUT FASTER
It is a mixture of upgraded and new roads that connects existing highway stretches. According to the Russian federal road agency and ministry of transport, it will cover 630 km when finished. The date of completion has not been announced.
Satellite imagery shows the construction of new bridges and interchanges as well as the enlargement of roads.
According to an analysis, road crews have finished the majority of a 100-km section between Taganrog (in southwestern Russia) and Manhush (in occupied Donetsk). The analysis also shows that Russia is building a new major bypass road around Mariupol which was levelled by early war fighting.
The Novorossiya Highway is the leg of the Azov Ring that connects the occupied territories. Officials in Russia say that they intend to finish the highway by 2030. It will connect Rostov on Don in Russia to Mariupol, Donetsk as well as cities in Zaporizhzhia or Crimea.
Olha Kuryshko, Ukraine's representative to Crimea is responsible for monitoring the rights and welfare of Ukrainians who live there. Kuryshko says that Russia is accelerating its efforts to build economic infrastructure across eastern and southern Ukraine, just as it did with Crimea.
After annexing Crimea in 2014, Moscow embarked upon a number of ambitious projects, including a 19-km road span and two power plants to ensure stable electricity for the peninsula.
Kuryshko said that, based on his analysis, "the?Russians" have achieved as much in the three years they've occupied these new territories as in the 10 years they occupied Crimea. She added, "They have done it so quickly, spent so many dollars, and taken everything to the next level from what they did before in Crimea." "Crimea served as their training ground."
KREMLIN COMMANDERS UKRAINE'S PORKS
Russia is also moving to reclaim the occupied Ukrainian ports on the Sea of Azov. The Sea of Azov is a shallow inland waterway that borders Russia and Ukraine, connecting to the Black Sea via the Kerch Strait. Since centuries, the Sea of Azov is a major trading route.
Kyiv has condemned the addition of Mariupol and Berdiansk in the Azov Sea to a list of Russian ports that are open to international ships. The canals that lead to both hubs have been widened and deepened, allowing larger ships to pass through them again. These projects are part of the construction tenders worth over $13 million for the two Russian ports that have been listed on the Russian government procurement website since 2023.
The port, according to two dock workers who requested anonymity and spoke about the port's recent growth, has been significantly busy in recent months. They said that vessels are arriving and departing loaded with grain or coal. However, activity is still below the pre-war level.
According to an analysis of LSEG vessel tracking data, between July and November last, 18 cargo ships operated by Russian and other companies were recorded leaving Mariupol and Berdiansk ports. The majority headed for Turkish ports. We couldn't tell what the vessels were transporting. The Turkish authorities have not responded to our request for comments on these journeys.
LSEG data shows that in 2024, there were no ships entering or leaving the two ports.
The Russians extract valuable natural resources in the occupied territories.
Russian customs data provided by an export data provider shows that, between March 2022 to March 2025 at least 508,500 tons of coal and coke, worth $13.2million, were exported from occupied areas. According to data, the main buyers of Ukrainian coke during this period were trading firms from Turkey and United Arab Emirates. According to the data, coal was also sold to companies in India and Indonesia as well as Egypt and Algeria.
Indonesia's Foreign Ministry said that the country's trading relations are transparent and it imports coal, among others, from Russia, Australia, and China. The other countries that are the destination of coal imports did not respond to any requests for comment.
GOLD MINING IN EASTERN UKRAINE
Moscow also expanded its control over natural resources in the seized Ukrainian territory via state auctions.
According to documents reviewed by the public auctions, state online auctions are selling dozens of assets, including mines, quarries, farmland, and more. The rights to extract sandstone from Luhansk's four mines, as well as crushed stone, chalk, and granite, have been sold.
The rights to develop the Bobrykivske Gold Mine in Luhansk has been one of the largest sales so far. According to the documents of sale, it was purchased for $9.7million by Alchevskpromgroup which is owned by Russian mining company Polyanka. Polyanka mainly develops mines at the far east of Russia.
Bobrykivske’s reserves consist of about 1.64 tonnes of gold. This would be worth nearly $260 million at current spot prices based on the documents.
Korab Resources, an Australian mining company, had been developing the site. Korab Resources had been developing the site in the past. But the Australian mining company stopped its work when the area became seized by Russian-backed rebels. This made it impossible for Korab to gain access to the region which was under Western sanctions.
Satellite images taken in September of the deposit showed tire tracks around the site. Karpinski said that the site had been in operation since June 2024 when asked to compare images taken then with those from September. He pointed out an excavator that appeared in the main pit, and shipping containers at the base of the stockpile.
Alchevskpromgroup and Polyanka did not respond to any questions regarding the sale of Bobrykivske and whether or not work has begun on the site.
Hird of the Institute for the Study of War said that occupying a large area of land comes with significant costs. She added that Russia's ability harness the natural resources and industrial potential of these regions could be important for its finances. These have been severely affected by the war effort as well as international sanctions.
Hird stated that "that can start tipping scales to the point where occupation becomes profitable for Russia." Reporting by Anastasiia Melenko, FilippLebedev, GlebStolyarov and Mari Saito. Additional reporting by PolinaNikolskayaDevitt, Marian PrysiazhniukMarine Delrue, Dan Flynn and PravinChar.
(source: Reuters)