A U.S. indictment is expected to be announced Wednesday in Miami, with federal sources indicating it concerns former Cuban President Raúl Castro and the 1996 downing of two civilian planes belonging to Brothers to the Rescue. The event, to be held by the Justice Department and FBI, coincides with a ceremony honoring the victims of the incident, where four Cuban Americans were killed. Evidence presented to a grand jury reportedly led to the indictment, though specific charges remain undisclosed.
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President Zelensky has approved Ukraine’s long-range plans for June, following a reported shift in battlefield dynamics that favors Ukraine. He indicated that Ukraine is now holding more positions and inflicting greater damage on Russian forces, with a particular emphasis on the impact of long-range sanctions against Russia. Discussions also covered key front lines and finalized decisions to bolster military supplies, prioritizing unmanned systems, drones, and funding for combat brigades.
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The St. Michael’s Golden-Domed Monastery in Kyiv served as a somber site for the funeral of two sisters, Liubava, 12, and Vira, 17, who were killed when a Russian missile struck their apartment building. Their father, a soldier who had died on the front lines three years prior, was also mourned at the service. This tragedy underscores the pervasive reach of the ongoing war, impacting families and communities deeply across Ukraine. The priest presiding over the service emphasized that this grief, though personal, is a shared sorrow for all of Ukraine, bound together by the conflict.
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Foreign Minister Sergey Lavrov has been largely sidelined from Russia’s core foreign policy negotiations concerning the war in Ukraine. This shift in influence is attributed to Lavrov’s consistently hardline public stance, which has at times contradicted or complicated Moscow’s broader diplomatic efforts. Instead, key strategic decisions and outreach to Washington are now primarily shaped by presidential aide Yuri Ushakov and economic negotiator Kirill Dmitriev, who acts as a direct channel to the U.S. administration. This restructuring of Russia’s foreign policy apparatus indicates a move towards more pragmatic intermediaries for diplomatic engagement.
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Foreign governments reduced their holdings of U.S. Treasurys in March, a trend driven by the Middle East war and its impact on global energy prices. Central banks, particularly in Asia, liquidated dollar reserves to defend their local currencies against a significant energy shock that caused exchange rates to fall. This sell-off, with major holders like China and Japan cutting their positions, reflects both currency intervention needs and tactical portfolio adjustments amid market volatility and rising inflation fears.
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The United States is pursuing a defense cooperation agreement with Ukraine to gain access to its advanced drone technology and intellectual property. This proposed agreement stems from the Pentagon’s interest in battle-tested Ukrainian systems, particularly their expertise in drone warfare developed during the ongoing conflict. The US seeks to test and potentially replicate these technologies domestically, with potential for direct procurement and benchmarks for future American drone programs. Ukrainian officials have emphasized the combat readiness of their systems, while the US is keen on independent evaluation.
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Iran is asserting its authority over undersea internet cables passing through the Strait of Hormuz, threatening to charge US tech companies fees for their use. These assertions, detailed by Iranian state-linked media, propose license fees for cable usage and claim Iran’s exclusive right to repair and maintain these vital digital infrastructure components. The move comes amidst ongoing regional conflicts that have already disrupted cable projects and repairs, potentially accelerating efforts by major tech firms and Gulf nations to establish alternative internet routes and bypass the Strait’s digital chokepoint.
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Ukraine’s General Staff confirmed strikes on May 18 and May 19 against key Russian oil infrastructure. These attacks targeted the Lukoil-Nizhegorodnefteorgsintez oil refinery in Nizhny Novgorod Oblast, one of Russia’s largest, and the Yaroslavl-3 oil pumping station in Yaroslavl Oblast. The refinery, a significant producer of fuel for Russian forces, experienced a fire, while damage assessments are ongoing for the pumping station. These actions align with Ukraine’s strategy to degrade Russia’s war-waging capabilities by disrupting its oil processing and distribution.
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Following a period of unusually high interest rates that bolstered savings, Russian households have begun withdrawing funds from fixed-term bank deposits for the first time since October 2022. This shift, totaling 288 billion rubles in March, is attributed to declining deposit rates, prompting savers to seek alternatives such as bonds, cash holdings, and increased consumer spending on durable goods. The Central Bank noted a broader slowdown in total bank holdings, with growth primarily driven by current accounts, while longer-term deposits saw the most significant outflows. This redirection of funds is seen by economists as a potential stimulus for economic activity.
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The World Health Organization has expressed deep concern regarding the escalating Ebola epidemic in eastern Congo and Uganda, citing over 500 suspected cases and 130 suspected deaths. The Bundibugyo virus, a rare variant with no approved treatments or vaccines, is responsible for this outbreak, which is complicated by a delayed response and spread into urban areas. An American physician is among the confirmed cases, and Germany is preparing to treat him as the outbreak, declared a public health emergency of international concern, continues to evolve rapidly.
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John Q. Hosedrinker