South Asia
Pakistan’s Finance Division rejected rumours about the government’s plans to impose an “economic emergency” on Tuesday, saying that individuals who do not want the country to prosper were spreading the false news. It further clarified that, unlike the Sri Lankan foreign reserve crisis, Pakistan’s economic situation was brought on by external factors like the Russia-Ukraine war, global recession, and devastating floods. [Geo TV]
Nepal presented India with a formal diplomatic note against constructing an embankment in Darchula near their shared border. The construction resulted in a tiff between Indian and Nepali locals. Nepalese citizens eventually closed the suspension bridge that connects the two countries. [The Kathmandu Post]
Central Asia and the Caucasus
Turkey has blocked 20 oil tankers, of which 19 carry almost 18 million barrels of Kazakh crude oil, from passing through the Bosphorus Strait in the Black Sea for several days, demanding that the crew produce proof of insurance. [Bloomberg]
The deputy prime ministers of Armenia, Azerbaijan, and Russia met in Moscow to discuss settling the Nagorno-Karabakh dispute through the continuation of peace talks. They discussed the possibility of unblocking transportation and communication links in the region. [Public Radio of Armenia]
East and Southeast Asia
Chinese President Xi Jinping is visiting Saudi Arabia today to participate in the China-Arab Countries summit and the China-Gulf Cooperation Council. He will also witness the signing of dozens of energy and investment agreements. [South China Morning Post]
Japanese Prime Minister Fumio Kishida has instructed his defence and finance ministers to increase the country’s defence spending by more than 50% over the next five years to $315 billion. [Japan Times]
The United States (US) State Department approved a $425 million sale of spare aircraft parts to Taiwan. The sale will allow the self-governing island to maintain its fleet of F-16 fighters, C-130 transport planes, and other US-supplied weapons systems. [Associated Press]
Europe
Turkish Foreign Minister Mevlüt Çavuşoğlu said Finland must remove its arms embargo on Ankara before it decides to approve Helsinki’s bid to join the North Atlantic Treaty Organization. The statement comes ahead of Finnish Defence Minister Antii Kaikkonen’s visit to Ankara to meet Turkish Defence Minister Hulusi Akar, wherein he is likely to reassert the call for lifting the arms embargo in adherence to the memorandum signed by Finland to join the security alliance. [Hürriyet Daily News]
The European Parliament passed a law on Tuesday to block the European Union’s access to imported products like coffee, beef, and soy if their activities are linked to deforestation. Companies trying to access such markets will be asked to conduct due diligence to satisfy the requirement or face fines of up to 4% of their turnover. [AFP]
An anonymous European official revealed on Tuesday that the European Union has drafted a new proposal for the normalisation of relations between Kosovo and Serbia, “with a clear calendar of actions - when and how things have to happen.” “There are a lot of things that make it a big step forward with respect to the current situation. [...] It’s not full recognition, but it is a full normalisation of relations,” the diplomat noted, calling on both parties “to continue in their constructive engagement, and focus on making irreversible progress in normalisation.” [Reuters]
Latin America and the Caribbean
Shortly after the United States allowed Chevron to once again pump oil in the country, Venezuelan President Nicolás Maduro on Tuesday invited companies around the world to produce and export oil from the country. “Venezuela belongs to the world’s energy equation and we are ready and prepared to produce, to export and to enter into contracts and agreements with all the energy companies of the entire world, from the United States and Europe,” he said. [teleSUR]
The lower house of Mexico’s parliament rejected President Andrés Manuel López Obrador’s bid to reform the country's electoral system 269-225, with one abstention. The president had proposed transforming the National Electoral Institute into a smaller and more powerful institution of elected officials. [Reuters]
Middle East and North Africa (MENA)
According to Israeli news outlet i24 News, Saudi Arabia intends to normalise ties with Israel on the condition that the United States supports Crown Prince Mohammed bin Salman and the monarchy. In a recent meeting between an American Jewish delegation and Saudi Minister of State for Foreign Affairs Adel Al Jubeir, the minister said the Saudi-Israel normalisation is only “a question of timing” but before that the US government and NGOs should treat Riyadh fairly and work towards stabilising ties. [i24 News]
Qatari state-owned media Al Jazeera on Tuesday submitted a formal request to the International Criminal Court (ICC) to investigate the fatal shooting of Palestinian journalist Shireen Abu Akleh, which took place in May, and prosecute those responsible. Israeli forces reportedly shot Abu Akleh dead while covering an Israeli operation in the West Bank. Israeli Prime Minister Yair Lapid has vowed that Israel will not allow anyone to investigate its soldiers. [Al Jazeera, Israel Prime Minister’s Office]
North America
Days after launching Canada’s Indo-Pacific Strategy, Canadian Minister of Foreign Affairs Mélanie Joly on Tuesday stated that Canada is “looking to have more frigates going through” the Taiwan Strait in order to ensure that “the question of the Taiwan Strait is clear and that it remains an international strait.” “We will continue to enforce the international rules-based order when it comes to the Taiwan Strait,” she affirmed, adding that Ottawa was “committing to new military assets” in the Indo-Pacific in an effort to promote peace and stability in the region. [Financial Times]
On Tuesday, a New York court jury convicted two corporations of the Trump Organization on all 17 counts of tax fraud, including on conspiracy and fabricating business records charges. Former United States President Donald Trump condemned the verdict as “unprecedented” and part of a Democrat-led “MANHATTAN WITCH HUNT!” “New York City is a hard place to be ‘Trump,’” he remarked. The company faces a potential fine of $1.6 million; the sentencing will be next week, which the defence is set to appeal. [Associated Press]
Oceania
Australian Foreign Minister Penny Wong and Defence Minister Richard Marles met with their American counterparts in Washington DC for the Australia-US Ministerial (AUSMIN) talks. Marles reiterated that “the most important capability that Australia is seeking to pursue right now” is nuclear-powered submarine capability. [ABC News]
Australian Prime Minister Anthony Albanese tested positive for COVID-19 again and announced that he “will be isolating and will continue to work from home.” [ABC News]
Sub-Saharan Africa
M23 spokesperson Lawrence Kanyuka on Tuesday offered its backing to efforts by the East African Community to “bring long-lasting peace” to the Democratic Republic of Congo (DRC), and said it will abide by a ceasefire reached between the DRC and Rwanda at a recent conference in Nairobi, despite the rebel group not being invited. Kanyuka said, “The M23 reiterates its readiness to the direct dialogue with the DRC Government in order to find a lasting solution to the root causes of the conflict in the Eastern DRC.” [The New Times]
Opposition lawmakers have criticised the newly-passed budget for 2023 for raising consumption taxes but failing to adequately reduce spending. That being said, the government has suspended hiring new public and civil servants and prolonged a moratorium on government car purchases and non-essential travel. Ghana’s debt stands at over 100% of its GDP, and its debt service payments constitute 70-100% of government revenue. Against this backdrop, it has approached the International Monetary Fund for a bailout package. [Al Jazeera]