ISTANBUL
Here’s a rundown of all the news you need to start your Sunday, including a halt to tribal fighting in Syria’s Suwayda province; Ukraine’s push for renewed peace talks with Russia; and high-stakes parliamentary elections underway in Japan.
TOP STORIES
The Syrian Interior Ministry announced that the city of Suwayda has been cleared of tribal fighters and clashes have been halted.
“Following intensive efforts by the Ministry of Interior to implement the ceasefire agreement — after the deployment of its forces in the northern and western areas of Suwayda province — the city of Suwayda has been cleared of all tribal fighters, and clashes within the city’s neighborhoods have been brought to a halt,” said ministry spokesperson Nour al-Din al-Baba, according to the state-run news agency, SANA.
The Syrian presidency announced a comprehensive and immediate ceasefire in Suwayda following days of unrest in the southern province.
Ukrainian President Volodymyr Zelenskyy said Kyiv proposed a new round of peace talks with Russia for next week.
“The Secretary of the National Security and Defense Council (Rustem) Umerov reported that he offered the Russian side another meeting next week,” Zelenskyy said in a video address.
Saying that the dynamics of the negotiations “must be increased,” Zelenskyy underlined the need for a meeting at the leaders’ level to ensure peace.
Voters in Japan are headed to polling stations to elect 125 lawmakers to the upper house of parliament, in a crucial test for the minority ruling coalition of Prime Minister Shigeru Ishiba.
More than 104 million Japanese are eligible to cast ballots to elect legislators in the House of Councilors from 519 candidates.
Just 75 constituency seats are contested, while the remaining 50 will be elected through proportional representation.
NEWS IN BRIEF
BUSINESS & ECONOMY
The agreement between Iraq's federal government and Kurdistan Regional Government (KRG) on oil exports has reignited expectations that crude flows through the long-idled Iraq-Türkiye pipeline may soon resume.
According to a statement from the Iraqi Prime Minister's media office, the Council of Ministers approved the new oil deal with the KRG during a July 17 meeting. Under the terms of the agreement, the KRG will transfer revenues from all oil produced in the region to Iraq's State Organization for Marketing of Oil (SOMO) and receive a $16 per barrel advance on deliveries.
The KRG is required to supply at least 230,000 barrels per day (bpd) to Baghdad, with any additional volumes contingent on output increases to be handed over to SOMO. In the event of a halt in exports, the entire production will be transferred to Iraq’s Ministry of Oil.
The oil rig count in the US decreased by two this week, according to data released by oilfield services company Baker Hughes.
The number of oil rigs, an indicator of short-term production, fell to 422 for the week ending July 18.
The number of US oil rigs dropped by 55 compared to a year ago.
The price of international benchmark Brent crude stood at $68.60 per barrel at Friday's trading close, while American benchmark West Texas Intermediate (WTI) was $66.
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