EXPLAINER
Why have half a million Russians gone bankrupt amid Ukraine war?
European intelligence report warns of strain on Russia’s banks, but experts say a full-blown crisis is unlikely
![The Strait of Hormuz remains a critical chokepoint for global energy supplies, with disruptions likely to influence fuel costs, trade and economic planning across Africa [Amirhosein Khorgooi/ISNA via AP]](https://www.aljazeera.com/wp-content/uploads/2026/07/AP26124419258830-1783382378.jpg?resize=770%2C513&quality=80)
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Iran’s China envoy vows ‘special’ Hormuz treatment for ‘friendly’ countries
Despite US objections, ambassador insists new fees to be charged to vessels transiting Strait of Hormuz.
US heatwave raises alarms over AI data centre energy demands
US heatwave exposes critical strain on power grids from growing energy demands of AI data centres.
$500m for Trump, access for Pakistan: How a crypto-diplomatic bet paid off
The crypto firm that brought Trump a windfall has also allowed Pakistan to gain clout with US administration.
Canada’s Carney secures deal for pipeline to expand oil exports beyond US
Ottawa says future pipeline will reduce economic dependence on the US amid Donald Trump’s trade war.
Trump administration aims to cut regulations on US commercial fishing
Scallop fishing had been banned in the New England waters since 1994 on account of overfishing.
UK’s likely next PM Andy Burnham faces defence funding gap
Defence Secretary Dan Jarvis is facing questions over the funding gap and whether Burnham was blindsided.
US job growth slows in June; hospitality sheds roles despite World Cup
Labour force participation dropped to its lowest level since March 2021, reaching 61.5 percent in June.
EXPLAINER
With Hormuz reopened, has the oil shortage turned into a glut?
As flow resumes through the strait, an oil surplus may yet again destabilise global energy markets.
![FILE PHOTO: Vessels at the Strait of Hormuz, as seen from Musandam, Oman, [Reuters]](https://www.aljazeera.com/wp-content/uploads/2026/07/reuters_6a464d29-1782992169.jpg?resize=770%2C513&quality=80)
EXPLAINER
Why has Trump refused to renew the USMCA, and what will that mean?
Trade ambassador says US will not approve trilateral agreement with Canada and Mexico ‘in its current form’.
German coalition agrees on sweeping reform package in key breakthrough
Under fire amid surge in far right, German chancellor unveils tax and pension reform package in bid to revive economy.
