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Maricarmen Abascal has died. She was the evicted Spanish 80-year-old who was at the heart of Spain’s housing protests.
The tenants' union in Madrid announced on Wednesday that Maricarmen Abacal, the 87-year old woman whose eviction had sparked protests over housing conditions in Spain, was dead. Abascal’s?eviction has sparked protests in Spain over the last couple of weeks. This included activists camping out on one of Madrid’s main squares and calls for action to tackle a growing housing crisis. These protests, along with the rejection by parliament of last week's decrees intended to?limit evictions?and limit rent pressures?, led Prime Minister Pedro Sanchez?to call for an early election on?November 29, Sanchez wants to change the narrative of the political debate from the handling of the migrant crisis by his government in Spain's North African Enclave Ceuta, and the corruption cases involving the Socialist Party of Spain and his family. He is now focusing on the housing crisis. Angel Victor Torres is Spain's Minister of Territorial Policy. He lamented this news. He said that Maricarmen was a symbol for what many families were going through, both elderly and young, who struggled to get their own home or stay there.
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US ends review of data privacy for US Airlines without Penalties
According to a memo seen on Monday, the US 'Transportation Department' has concluded a review conducted during Biden's tenure of?airlines? data privacy practices without imposing any penalties. This is despite complaints from lawmakers that carriers had failed to safeguard or misuse information. USDOT did not comment on Monday but in a memo dated 4 September, it said that they had evaluated the privacy of data for the 10 largest airlines and found "no violation" of the applicable laws or policies. In?March 2024, the then-Transportation Secretary Pete Buttigieg opened a review on how US Airlines collect and use passengers' information. Senator Ron 'Wyden has urged USDOT addressing privacy concerns. "DOT claims that merely having a policy and training on privacy is enough, despite evidence of privacy violations." Wyden and Shontel brown said in August that the Drug Enforcement Administration was paying airline employees Millions of dollars were spent to get some data on 'Americans. They alleged that a database owned jointly by major US airlines sold passenger records without warrants and court oversight to government agencies such as the IRS. In a memo, the department said that US airlines shouldn't set pricing based on personal data. It reminded airlines that they have a responsibility to "protect?passenger?data, adhere?to published privacy policies and prevent unlawful discrimination when it comes to dynamic pricing practices." Sean Duffy, Transportation Secretary, said last year that he would investigate any personalized pricing. Delta Air Lines denied using AI to set individual prices.
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Manishi Raymondchaudhuri: The thaw in the Sino-Indian relationship will be a major test for economic growth
India wants to move out of China's shadow and improve diplomatic relations. But the more it pushes the more its dependency on China, its wealthier neighbor, becomes apparent. Xi Jinping, the Chinese president, and Indian prime minister Narendra Modi met in New Delhi in December. It was Xi's very first trip to India in seven years. Both leaders agreed to repair the damage caused by the deadly hand-to -hand clashes that occurred in 2020 along their shared, but poorly defined Himalayan border. Since the two Asian giants agreed last year to end their military standoff, there are other signs of warming relations. Since the COVID-19 epidemic in 2020, direct flights between Indian cities and Chinese 'cities' have been resumed. Visa services in China are also expanding. These measures are only a first step. Handshakes and plane rides will not solve the problem of long-standing trade dependency and strategic distrust. The economic relationship between the two Asian giants remains profoundly asymmetric. According to the World Bank, China's share in global manufacturing value added was 28% by 2025. This is far greater than India's 3%. India's export situation is also lopsided. China's 16.3% of global merchandise exports by 2025 will be a massively greater share than India's 1.7%. India will import goods from China worth $116 billion dollars more than it exports in 2025. In August of this year, India's deficit was already at $91 billion. It was on course to surpass the record set last year. CAPTIVE SUPPLY CHAINS It's not just that India imports from China more. Many of these imports are essential to Indian industry. The three largest import categories are electrical and electronic equipment (EEE), machinery and chemicals. These goods are used as intermediates by Indian manufacturers. India imports more from China the more it exports. The dilemma is illustrated by smartphones and generic drugs. India has made great progress in expanding pharmaceutical production and assembling electronic devices, but many of the inputs and components needed by both sectors are still sourced from China. This dependence has broad strategic implications. Beijing's introduction of export licensing requirements for seven heavy rare Earths in April 2025, exposed India's automotive manufacturing and defense sectors to vulnerabilities. India's manufacturing problems are not all due to foreign competition. According to the latest Economic Survey, India's R&D spending in 2024 was just 0.64%, which is significantly lower than its?Asian counterparts, partly due to private sector underinvestment. The problem is compounded by the shortage of skilled workers. Foxconn's decision to withdraw Chinese staff from their Indian iPhone factories by 2025 showed how advanced manufacturing is dependent on foreign expertise. INDIA'S FIXES New Delhi is trying to correct the imbalance. India has recently eased restrictions on Chinese foreign direct investments (FDI), allowing them to own up to 10% of Indian companies. The government announced simultaneously that it would expedite the clearance of investment proposals within 60 days in five high-tech areas, provided they were structured as joint ventures and had majority Indian ownership. India's exports to China increased by 40% from April to August. The increase in exports is largely due to industrial machinery, automotive components and printed circuit boards as well as smartphones and other electronic products. The export boom should not be misinterpreted as a fundamental change in the relationship. India's electronic growth is still heavily dependent on Chinese imports. Smartphone manufacturing, India's largest export success story, is still only 18-20% local. The AI boom in Northeast Asia is generating positive spillovers to the subcontinent. Indian firms are picking up sub-components from Chinese tech giants who are facing a surge in hardware demand. This dynamic, however, reinforces the importance of Chinese supply chains. TRUST DEFICIT IS PERSISENT In order for China-bound FDI to reach India and for technology transfer to take place, it is important to answer the question: What does India have to offer? China is not taking up the bait. The obvious answer to this question is 'access to a large, young market with a low-cost labor pool'. Also, New Delhi has various incentives for industrial growth, including tax breaks, payouts linked to production, and capital subsidies. China's pressure to its leading companies, which includes EVs, batteries and solar energy equipment as well as electronic equipment, shows how Beijing protects its most sophisticated capabilities. The 3,800 km (2,400 miles) of disputed border in Himalayas continue to cast a cloud over the relationship. The two countries have agreed to a gradual, multi-year stabilisation plan. Diplomats met in Beijing last August and pledged a "fair settlement that is reasonable for both parties". However, there does not appear to be a resolution imminent. Both governments seem willing to expand economic cooperation for the time being. India's challenge does not just lie in reducing its imports from China. The challenge for India is to use a renewed engagement with China to develop its own domestic capabilities. The relationship between Asia's largest economies until then will be a one-sided affair. You like this column? Open Interest (ROI) is your new essential source of global financial commentary. Follow ROI on LinkedIn and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets seven days a weeks.
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Alaska LNG savings justify billions of investment, developer claims
Alaska LNG's developer claimed that the project would be competitive with US Gulf Coast competitors because it will have access to stranded natural gas and shorter shipping routes into Asia. This is despite some analysts' concerns about the massive infrastructure costs of 'the project. Tim Fitzpatrick said in an email sent to the project developer Glenfarne on Sunday that the cost to ship gas from Alaska's North Slope to Asia would be at least 60% cheaper than the Gulf Coast. The project would transport gas from Alaska's north slope through an 800-mile pipeline, to a plant that exports liquefied gas in southern Alaska. The question is whether the lower shipping costs are worth the billions needed to build infrastructure. The estimated cost for the project is $44,5 billion to $54,5 billion. This translates into?roughly $2 billion to $2.7 million per million tons of LNG capacity (MTPA). This is significantly more than other Gulf Coast projects that have recently been approved. The developer Glenfarne claims that this comparison is inaccurate because it does not include the costs of the pipelines and treatment infrastructure required to bring the North Slope gas stranded to the market. Fitzpatrick stated that the delivery costs for the?Alaska Liquefied Natural Gas project are about $1.4 billion each MTPA. Since the Russian invasion of Ukraine, US LNG projects have been approved at an average price of $1 billion or less per mtpa. Glenfarne says that the project's competitiveness is best measured in terms of delivered LNG costs, rather than upfront expenditure. Fitzpatrick stated that the company has so far identified customers for 13 millions tons of LNG per year and needs 16,000,000 tons per annum to support project finance. Trump said on Friday that South Korea would help finance the LNG project in Alaska as part of an investment package worth $200 billion for US projects. Seoul, however, quickly indicated that the role of South Korea in the Alaska LNG project was not yet determined.
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US FAA: Boeing 737 MAX software bug poses no safety concern
Federal Aviation Administration'said Friday that a panel of experts determined that a'software glitch in certain Boeing 737 MAX Flight Computers pose no safety concerns, clearing the?way for approval of a broader version?of a bestselling narrow body jet. This decision will remove a long-delayed obstacle to the certification of the MAX 10 – the largest variant in the 737 MAX Family – which had been delayed by years. This should ease the concerns of airlines who fly the MAX 7 which also uses the same software and was certified by FAA in august. The FAA stated that the decision by the Corrective action Review Board?that?met in Seattle on?Friday was based on "pilots retaining full control of?aircraft, and the indications given to the flight crew were clear and unambiguous." The FAA announced earlier this week that it would delay?certification for the MAX 10 until an analysis was completed of the software problem, which could prevent pilots?from?accessing automated guidance during a landing scenario. Aviation officials believe that the MAX 10 could now be certified by the end of this month. Southwest Airlines could have also been affected by the issue, as the MAX 7 aircraft that was just certified uses the same software. The MAX 10 was also ordered by Alaska Airlines, United Airlines, and other large airlines. Jefferies stated in a research report that the MAX '10 can be certified by the end of this year. Boeing has estimated nearly 1,500 MAX 10s are on order. The FAA stated that one software version could increase pilot workload when a pilot "aborts" a landing, then applies power and climbs for another 'landing attempt. A FAA official stated that Boeing would issue a bulletin on how to recognize the situation and what to do in it. The FAA will then issue a Special Information Bulletin about Airworthiness to US airlines and foreign regulators so they are aware of Boeing’s bulletin. While the analysis was in progress, major US airlines chose not to use this version of the software.
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Zimbabwean businessman Chivayo who was close to the ruling elite killed in helicopter crash
Wicknell 'Chivayo', his wife, and other victims were killed in a helicopter crash on Wednesday, according to Emmerson Mnangagwa. Mnangagwa said in a statement to X on Thursday he is "in deep grief and shock", and Kenyan President William Ruto, who posted a different post on the same day, called Chivayo a friend and expressed his sadness at his death. Chivayo, who has cultivated close relationships with Mnangagwa, and other African leaders by posting pictures on social media, also displayed luxury vehicles, designer clothes and lavish gifts. Zimbabwe's The Herald reported that investigations?into this crash are currently underway and a statement detailing the findings will be made in due course. The police did not comment on the cause of the accident, but Paul Nyathi, the spokesperson for the authorities said that DNA tests were being conducted because the bodies had been severely damaged. Chivayo was often cited by critics as an example for a small, elite class who benefited from contracts with the government under Zimbabwe's ZANUPF party. He denied accusations of corruption. Chivayo spent several years in prison after being convicted of money laundering in 2005. He was arrested for?the alleged misuse of a $5.6million advance payment linked to a solar energy project in 2018. But a magistrate struck off the 'case in 2023 citing delays by the prosecutors. Mnangagwa again attracted scrutiny in 2024 after describing his company as Starlink’s exclusive partner in Zimbabwe. This prompted the telecommunications regulator, to clarify that it was only one of many approved resellers.
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Israel's Netanyahu: Flydubai co-pilot underwent radical Islamist endoctrination
Israel's Prime Minister said that the co-pilot who attempted to crash a plane by stabbing the captain had been radicalized and clearly suicidal. The flydubai flight FZ1073, which flew from Dubai to Tel Aviv on Wednesday, was spared disaster after the injured captain managed to open the cockpit door and allow passengers to subdue their attacker. The plane with more than 170 passengers on board was landed at Tabuk Airport in Saudi Arabia by a reserve crew. We know that he was radicalized by islamists. In an interview with Fox News, Israeli Prime Minister Benjamin Netanyahu stated that this appears to be what we gather from his personal data. According to two Israeli security officials, Israel's initial assessment is that the copilot, who Israel identified as an Omani, likely acted alone. However, the investigation is still ongoing. Flightradar24, a flight tracking website, reports that the plane plunged more than 14,000 feet during the incident while it was flying from the United Arab Emirates towards Israel. Netanyahu said, "It was obvious that the copilot was suicidal." Netanyahu stated that it appeared likely that the man was planning to bring down the aircraft. He said that "the Islamist traits, the radicalization found in his past, is a pretty good clue." But again, I haven't made any final conclusions. "But that's what we know now," he said. The United Arab Emirates have begun investigations to determine the circumstances and motives, and to determine "whether or not the incident was linked to terrorist activities or purposes or involved any prior planning or directions", according to the UAE's state news agency. ATTACKER IDENTIFIED AN OMANI NATIONAL Yossi Shelley told the Israeli envoy in the UAE that it was still too early to make any conclusions and that no motive had yet been established. A second Israeli official stated that Israel did not receive all of the information requested from Saudi Arabia and that Israeli intelligence services Mossad, and Shin Bet were also investigating the incident. Saudi Arabia's media office has not responded to requests for comment immediately, nor have they made any statements about their investigations. Netanyahu identified the attacker's nationality as Omani. Omani authorities are yet to comment. We have restrictions that state that you cannot have pilots who are from countries without diplomatic relations with Israel. Netanyahu said that it was clear that he had been able to do so. In an interview with Fox News Netanyahu stated that the attacker is being investigated in Saudi Arabia, and that he believes he will be sent to the UAE. When asked if there were any signs of Iranian involvement in the conflict, Netanyahu replied that it was still too early to tell. Israel has not made any official statements about Iranian involvement. Two Israeli security officials claimed that Israel has not yet identified any Iranian involvement. Israel Defence Minister Israel Katz stated on Wednesday that Israel’s preliminary information indicated the co-pilot intended to crash the aircraft, describing him?as a terrorist. Netanyahu, however, only described it as "a serious incident". The permanent Iranian mission at Geneva has not responded to the request for comment. SECURITY FEARS AHEAD OF ISRAELI ELSTION Israel's security was a major issue in the campaigning for the first elections since the Hamas attacks of October 7, 2023. In February, the US and Israel launched attacks against Iran, in a conflict which quickly spread to the Gulf of Aden and Lebanon where Israel is fighting Iran-backed militant Hezbollah. Both Netanyahu and Indian PM Narendra Modi have described the captain of flight FZ1073, an Indian, Smit Machchhar, as a hero. The Indian Embassy in the UAE reported on X that the pilot was doing well. Israel also praised passengers who subdued the attacker. Yaniv Haun, one of those who incapacitated an attacker, described running to the cockpit when the plane nosedived. "We pulled out the assailant, I pulled out. "We took control after I got him out. I lifted the yoke, steering control, and straightened out the plane a little," he told reporters on his return to Israel.
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Canada fast tracks oil pipeline to diversify economy and divert away from US
Canada will speed up the approval process of a new proposed crude oil export pipeline that would run along its west coast. The project could generate over C$20 billion in GDP annually, according to Prime Minister Mark 'Carney. The pipeline announced in July is an important part of Carney’s plan to diversify the US economy and lessen the impact of President Donald Trump’s tariffs. Carney stated that Ottawa will officially list the Pacific Link Pipeline as a?project of national interest', allowing it to proceed through a single regulatory review process at the federal level. Ottawa, he said, aimed to finish the process by September 1, 2020. He told reporters at Fort McMurray in Alberta, the hub of the oil sands sector, that a pipeline to the West Coast was part of his mission to transform the economy and double non-U.S. imports within the next decade. Ottawa claims that the 1 million barrels a day project will create 140.000 jobs, generate more than C$20 billion per year in GDP and C$100 Billion in government revenues by 2060. Canada currently has just one east-west oil export pipeline in Canada, the 890,000-barrel-per-day Trans Mountain pipeline. The pipeline expansion was completed in 2024. However, it is already operating at full capacity. Since years, Canada exports more than 90% its crude oil to the United States through pipelines. A new oil export pipe could make Canada the world's largest energy supplier, as Asia’s top importing countries look for oil outside of the Middle East following the Iran conflict. Trans Mountain Corp, a government-owned company, will build the pipeline in conjunction with Pembina Pipeline Corp. Alberta estimates that it will cost between C$35,2 billion and C$43.7billion. The federal government will own the majority of the shares, followed by the government of Alberta. The federal government and the government?of Alberta will own a majority of the shares. Environmentalists and Indigenous groups have opposed previous oil pipeline projects across Canada. This has led to the cancellation of certain projects, and cost overruns or construction delays in others.
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)