Belarus has submitted an application to join the SCO and the process for accepting this submission will begin at a summit in Samarkand in September.

Iran will be admitted to the SCO later this year also at Samarkand.

Putin has extended the decree on the simplified process leading to Russian citizenship to all residents of Ukraine.

This is a hugely telling statement and demonstrates Putin has no issue with the Ukrainian people or the Ukrainian military.

Spain has imported 8,752 GWh of Russian LNG, which represents 24.4% of the total gas imported in June.

Normally, Russia supplies 2,000 and 2,500 GWh each month, effectively quadrupling exports to Spain in June.

A Russia -Turkey summit attended by senior officials of both nations is due to be announced shortly.

Putin:

They should have realised they had already lost from the very beginning of our special military operation. Because its beginning also meant the start of a fundamental breakdown of the American world order. https://t.co/Zhop6SUzoZ

BoJ:

Japan's Yen based wholesale import prices rose 46.3% in June yoy, the largest rise since records began.

There is an intentional move to try and preserve the status of the dollar by sacrificing the yen and the euro. The problem is that in doing so it is likely to collapse the entire western financial system. It is rather like sanctioning Russia, ultimately a suicide mission.

Bolivia will implement a 5G rollout in 2023 utilising Chinese technology and cooperation.

Russia has shown that abandoning dollar centric world is way forward for all of the Global South.

Defaulting on all dollar denominated debt is self-explanatory as well as abandoning its use in trade. Effectively isolating themselves from western financial system in entirety.

Appears there has been another failed coup attempt in Belarus.

There are rumours that in the coming days Russia may officially change the status of Ukraine from a special military operation to a declaration of war.

That would be devastating for Ukraine if it happens. Let's hope that is not the case.

Putin is visiting Iran next week.

We have been discussing role of Iran for years.

After having QE and ZIRP for over a decade the idea raising interest rates is a positive move for any western FIAT currency is nonsense.

Former senior U.S. official John Bolton admits to planning attempted foreign coups

https://t.co/qLirls4hyu

In H1 2022, China's foreign trade reached 19.8tn yuan, increasing 9.4% yoy, with exports up 13.2% and imports up 4.8%.

West keeps talking about supply chain issues in China.

Claims that the EU and Russia have now reached an agreement with Brussels on the transit of goods to Kaliningrad.

Will Lithuania pick up the phone and call Washington?

West is manipulating oil prices to try and dent Russian export revenues and to prevent the derivative markets imploding if oil stays over $120pb, as we have stated many times.

Despite the obvious and ongoing problems Germany is experiencing wrt energy prices it has decided in its infinite stupidity to stop buying Russian coal on August 1st and Russian oil on December 31st.

Britain’s retailers are suffering sharpest drop in spending since depths of coronavirus pandemic as hard-pressed consumers tighten their belts as a result of soaring inflation.

Third successive drop in activity as cost of living crisis continued to bite.

https://t.co/caf6kKAsE3