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Russia's Gazprom and China's CNPC have signed a memorandum to build the Power of Siberia 2 pipeline, which will carry 50 bcm of gas annually from Siberia via Mongolia to China. The deal aims to diversify Russia's markets and deepen energy ties amid Western sanctions, though key details like pricing and funding remain unresolved.
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Leaders of China, India, and Russia gathered at the Shanghai Cooperation Organization summit in Tianjin, signaling a shift towards a more multipolar world. The summit emphasized regional stability, opposition to US dominance, and cooperation on security and economic issues amid ongoing tensions with Western nations.
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Poland and Ukraine are formalizing military cooperation to enhance drone defense capabilities amid ongoing tensions in Eastern Europe. The agreement includes joint testing, training, and sharing of drone tracking systems, following recent drone incursions and increased regional instability caused by Russia's actions in Ukraine.
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Ukrainian forces targeted key Russian energy infrastructure, including the Orenburg gas processing plant and Novokuybyshevsk oil refinery, causing fires and damage. Russia reports shooting down numerous Ukrainian drones amid ongoing strikes. The attacks follow increased Ukrainian efforts to disrupt Moscow’s war effort.
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Recent comments from Trump suggest he favors a freeze of current front lines in Ukraine, endorsing Russia's control over parts of Donbas. He also indicated that Russia might retain territory occupied since 2022, while meeting Zelenskyy and Putin to discuss potential peace pathways amid ongoing conflict.
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Serbia's government has given Russian-owned NIS 50 days to sell its stake or face nationalization, as US sanctions threaten oil supplies. Bulgaria's largest refinery also faces shutdown risks due to sanctions on Russian companies, prompting government intervention and negotiations with potential buyers. The situation highlights regional energy security concerns.