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Iran-Venezuela relations
Iran and Venezuela want to increase bilateral trade to 20 billion dollars. That’s nearly a seven-fold increase from the current level of three billion dollars. Iranian President Ebrahim Raeisi set the target in a statement with Venezuelan President Nicolas Maduro in Caracas. He’s heading a high-ranking delegation, including ministers of foreign affairs, oil, defense, health and culture. The two sides signed 19 documents of cooperation and memorandums of understanding. Those were in areas of information and communication technology, energy, petrochemicals, maritime transportation, agriculture, medicine, mining and culture. Following his trip to Venezuela, the Iranian president will head to Nicaragua and Cuba as part of his Latin American tour. All four countries are under US sanctions.
Russia-Ukraine war
Russian forces have repelled Ukrainian attacks in the southeastern part of the country, rejecting Kiev's earlier claims about recapturing the region. The Russian Defense Ministry said its forces fought back three Ukrainian assaults in eastern Donetsk region. Moscow added that Russian forces have also repelled attacks in southeast Ukraine. This is in contradiction with Ukraine's claims on advancing deeper into Russian-controlled territory over the weekend. Kiev says its troops have begun attacks as part of its anticipated counteroffensive to regain lost territories. Later on Sunday, Ukraine made announcements on capturing seven villages showing unverified videos of its forces posing their flags in the recaptured areas.
Push for de-dollarization
Pakistan pays for its first import of discounted Russian crude in Chinese Yuan, amid attempts worldwide to ditch the U-S dollar in trade. The cargo, containing 45,000 metric tons of crude oil, arrived in the southern city of Karachi on Sunday. The shipment was arranged under a deal struck between Islamabad and Moscow in April. This is the first Russian oil cargo to the South Asian country and marks a significant shift in Pakistan's dollar-dominated payments policy. Pakistan has been reeling from a severe economic crisis, resulting in a shortage of foreign currency to pay for fuel imports.
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