40-day operation from Ukraine & attack in Hormuz
Ukraine's launch of a new military operation against Russia and the ship attack in the Strait of Hormuz could affect regional security and energy prices. Additionally, major earthquakes in Venezuela and the heatwave hitting Europe are complicating transportation and safety.
The new 40-day operation plan approved by Ukraine against Russia could influence the course of the conflict to Turkey's north and Black Sea security. Simultaneously with this move approved by President Zelenskyy, France announced that it intervened in a tanker belonging to the "shadow fleet" (unregistered vessels used to bypass sanctions) used by Russia to evade sanctions.
Ship attacks and increased traffic in the Strait of Hormuz (a critical waterway for oil shipments) carry the risk of affecting global energy costs and fuel prices. While it is alleged that Iran attacked a Singapore-flagged cargo ship, the highest transit traffic of recent months was recorded in the region yesterday with 70 ships.
Natural disasters and climate conditions continue to make daily life difficult; at least 188 people lost their lives in earthquakes of magnitude 7.2 and 7.5 that occurred in Venezuela. In Europe, education has been suspended in thousands of schools due to extreme heat hitting France, and train services are facing cancellations.
Turkey's defense industry capacity was defined as a strategic source of power by NATO ahead of the defense summit to be held in Ankara. NATO Secretary General Mark Rutte stated that Turkey's production power provides a significant contribution to the alliance.
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