North Korea Is Growing Its Navy with Submarines and Nuclear Drones. But Why?
Over the past year North Korea has moved to boost its navy with new nuclear weapons, including an underwater drone, warships, and its first operational missile submarine, unveiled on Friday.North Korea's navy has historically been dwarfed by the country's land forces, and overshadowed by its rapidly advancing ballistic missile program.Now, leader Kim Jong Un has said the navy will play a key role in the country's nuclear deterrence, and analysts say it may also assure support among naval commanders and boost national pride."Until quite recently…
North Korea Tests New Nuclear-capable Underwater Drone
North Korea has tested a new nuclear-capable underwater attack drone, state media reported on Friday, as leader Kim Jong Un warned joint military drills by South Korea and the U.S. should stop.During the test, the new North Korean drone cruised underwater at a depth of 80 to 150 metres (260-500 feet) for over 59 hours and detonated a non-nuclear payload in waters off its east coast on Thursday, North Korean state news agency KCNA said.Analysts say North Korea is showing off its increasingly diverse nuclear threats to Washington and Seoul…
Oil Shipping and Refining Firms Benefit from Western Sanctions on Russia
Western sanctions on Russia have significantly reduced state oil revenues and diverted tens of billions of dollars towards shipping and refining firms, some with Russian connections.Most of the winners from the sanctions are based in China, India, Greece and the United Arab Emirates, at least 20 trading and banking sources said. A handful are partly owned by Russian companies.None of the firms is breaching sanctions, the sources told Reuters, but they have benefited from measures…
Iran Vessels Make 'High Speed Intercept' of US Ship
Four of Iran's Islamic Revolutionary Guard Corps (IRGC) vessels "harassed" a U.S. warship on Tuesday near the Strait of Hormuz, a U.S. defense official said, amid Washington's concerns about Iran's posture in the Gulf and in the Syrian civil war. The vessels harassed the destroyer by "conducting a high speed intercept and closing within a short distance of Nitze, despite repeated warnings," the official said. IRGC, the Islamic Republic's praetorian guard, is suspicious of U.S.
China Says Wants Peace after Paper Warns on South China Sea Clash
China's government sought to downplay fears of conflict in the South China Sea after an influential state-run newspaper said on Tuesday that Beijing should prepare for military confrontation. Editorials in the Global Times newspaper ahead of a July 12 international court ruling on competing claims in the South China Sea by China and the Philippines said the dispute had already been complicated by U.S. intervention. It faced further escalation due to the threat posed by The Hague-based tribunal to China's sovereignty, the paper said. "Washington has deployed two carrier battle groups around the South China Sea, and it wants to send a signal by flexing its muscles: As the biggest powerhouse in the region, it awaits China's obedience," the Global Times said.
Obama, Modi Aim High on India Trip
In a fresh bid to make India an enduring strategic partner, U.S. President Barack Obama lands in New Delhi on Sunday for a highly symbolic parade and to nurture friendship with a prime minister who until last year was persona non grata in Washington. Obama will be the first U.S. president to attend India's Republic Day parade, a show of military might long associated with the anti-Americanism of the Cold War, and will host a radio show with Prime Minister Narendra Modi. His presence at Monday's procession at Modi's personal invitation is the latest revival in a roller-coaster relationship between the two largest democracies that just a year ago was in tatters.
Easing US Oil Export Ban Unlikey to Raise Gasoline Prices
A government study on Thursday essentially supported the notion that easing the decades-old restriction on exporting U.S. crude was more likely to lower than raise gasoline prices for American motorists, a conclusion that could ease concerns among lawmakers about changing the policy. U.S. gasoline prices are mainly set by global oil prices, the Energy Information Administration said in a highly anticipated analysis. "The effect that a relaxation of current limitations on U.S. crude oil exports would have on U.S. gasoline prices would likely depend on its effect on international crude oil prices, such as Brent, rather than its effect on domestic crude prices," said the EIA.
US Warns of Sanctions on Buyers of Islamic State Oil
The Obama administration on Thursday threatened to slap sanctions on anyone buying oil from Islamic State militants in an effort to disrupt what it said was a $1-million-a-day funding source. Islamic State has seized large swaths of Iraq and Syria in a brutal campaign, and could pose a threat to the United States and its allies if it is not stopped, U.S. Treasury Undersecretary David Cohen said. "With the important exception of some state-sponsored terrorist organizations, ISIL is probably the best-funded terrorist organization we have confronted," Cohen said, referring to another name for Islamic State. He spoke at the Carnegie Endowment for International Peace.
Key Arctic Bills Introduced by Alaska Senator
New bills introduced by US Senator Mark Begich are aimed to strengthen Arctic science, health and diplomacy. "As we face an Arctic Ocean which is increasingly ice-free, our country has both an historic opportunity and enormous challenges,” U.S. Sen. Mark Begich said. Strengthening America’s understanding of changes underway in the Arctic, the impacts of Arctic warming on the health of northern residents and strengthening the nation’s international presence in the Arctic are the subjects of three bills recently introduced in the Senate by Begich .
