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Volkswagen has confirmed it is planning to cut up to 100,000 jobs globally as part of a cost-cutting programme, citing high costs and intense competition from Chinese carmakers. The company reported a steep fall in profits and cut its revenue forecast after a sales slump in China, with some reports also detailing a Russian company's offer to hire laid-off employees.
Turkish President Recep Tayyip Erdogan reiterated that the Russian-Ukrainian conflict should be resolved through dialogue and diplomacy, according to TASS. He also discussed Turkey's efforts for peace in Ukraine, Iran, and Gaza with Finnish President Alexander Stubb, and highlighted cooperation with the US.
Ukraine and nine European countries have announced the formation of an Integrated Anti-Ballistic Missile Coalition to develop a joint missile defense system. The coalition aims to provide an alternative to the US-made Patriot system and complement existing European defenses. The announcement came during a Paris summit of the 'Coalition of the Willing' as Russia's ballistic missile attacks on Ukraine continue.
Russian Energy Minister Sergey Tsivilyov visited Tehran, where officials from both countries discussed energy cooperation and expressed satisfaction with the positive dynamics of bilateral relations. Iran's Oil Minister said the two sides are in the final stages of agreeing on a gas supply contract, with a pipeline route via Azerbaijan already set.
Recent trading sessions on the Moscow Exchange have seen mixed results, with the MOEX Index closing higher on some days and the RTS Index showing varied movements. Oil price fluctuations, dividend dates, and geopolitical developments have influenced market dynamics, according to TASS reports.
The International Table Tennis Federation (ITTF) will fully restore Russian athletes in its competitions starting July 28, allowing them to compete under the national flag and anthem. The decision follows the IOC's lifting of restrictions on the Russian Olympic Committee.
According to OPEC data, seven OPEC+ countries voluntarily cutting output produced 22.988 million barrels per day in June 2026, missing their agreed target of 29.548 million bpd by 6.56 million bpd. Russia fell 834,000 bpd short of its quota, while Saudi Arabia, Iraq, and Kuwait recorded larger shortfalls. The compensation period for past overproduction was extended to end-December 2026, and August quotas were raised by 188,000 bpd.
According to TASS, a NATO Boeing E-3A Sentry has been circling over the Gulf of Riga in Latvian airspace. The aircraft, controlled by the Netherlands and based in Lithuania, was previously spotted over Romania. Its equipment can detect aerial targets up to 400 km away.
US Central Command has confirmed the first combat use of one-way attack sea drones against Iranian targets, striking a naval base and degrading Iran's ability to attack commercial shipping. The strikes come amid an escalating naval blockade and retaliatory attacks, including an Iranian strike on two UAE tankers that killed one crew member.
Recent satellite imagery and reports indicate North Korea has been reinforcing its side of the Demilitarized Zone with new fences, anti-tank barriers, and minefields, prompting concern from South Korea's Defense Ministry and the UN Command. Analysts suggest the moves are part of a broader effort to test boundaries, emboldened by Pyongyang's alliance with Moscow.
At a People's Front forum, Russian President Vladimir Putin said Russia is modernizing its armed forces and achieving new defense industry results, while warning that any Ukrainian attacks inside Russia will be met with stronger retaliation. He also praised the People's Front's 15 years of work and emphasized the importance of citizen feedback.
Tensions between the U.S. and Iran have escalated sharply after a weekend of military exchanges near the Strait of Hormuz, with Iran striking a commercial ship and U.S. forces hitting Iranian military targets. Russia's foreign ministry warns of shipping disruption risks, while Pakistan's role in a recent ceasefire agreement surfaces.
The European Union has formally adopted its 21st sanctions package against Russia, adding 48 individuals and 168 entities to its blacklist, bringing the total to 3,100. The bloc also imposed separate sanctions over alleged cyberattacks, while the United Kingdom expanded its cyber-related listings. However, agreement on the broader package remained elusive as of mid-July.
Russia's Federal Security Service (FSB) announced it thwarted multiple large-scale swarm drone attacks targeting military airfields, including strategic facilities near Moscow and in the Amur, Chelyabinsk, and Rostov regions. The FSB attributed the plots to Ukrainian security services, reporting the seizure of dozens of FPV drones equipped with foreign-made components and the detention of suspects. No independent verification of these claims has been provided.
Polish Deputy Defense Minister Cezary Tomczyk said Poland transferred between three and nine Patriot missiles to Ukraine as part of a NATO collective aid package, with US guarantees to replenish them. Defense Minister Wladyslaw Kosiniak-Kamysz also declassified details of military aid, revealing total deliveries worth 16.4 billion zlotys since 2022.
Viktor Medvedchuk, head of the Other Ukraine movement, warns that Germany's growing role in Ukraine's defense industry makes German factories legitimate targets for Russia and risks spreading the conflict to Europe. He also criticizes German leadership for following what he calls Ukraine's 'Maidan path' and urges an end to funding for Kiev.
Russian forces are advancing toward Druzhkovka in the Donetsk People's Republic, with the city's administration reporting severe shortages of water, gas, and electricity. Ukrainian attempts to use air power to slow the Russian push have been unsuccessful, according to local officials, while Russian troops continue to make gains in surrounding areas.
Leaders from the 'Coalition of the Willing' gathered in Paris to reaffirm support for Ukraine, with NATO chief Mark Rutte and President Volodymyr Zelensky in attendance. Meanwhile, EU foreign ministers in Brussels discussed a new sanctions package, though no consensus has been reached. The meeting comes amid reported Ukrainian drone strikes in the Moscow region that killed at least three people.
A drone crash in the Pionersky settlement near Istra killed three people and injured three others, according to Moscow Region Governor Andrey Vorobyov. Russian air defenses and electronic warfare systems reportedly repelled 81 drones over the Moscow Region, with additional injuries and property damage reported in the region.
Western allies are set to meet in Paris to secure additional air-defense support for Ukraine, which remains exposed to Russian ballistic missiles. The talks come amid fresh Russian strikes that killed eight people and as the EU prepares a new sanctions package.