Armenia’s Election Pivot: Nikol Pashinyan’s Civil Contract party is leading in parliamentary voting (about 49.8%), a result widely framed as a referendum on Armenia’s shift toward the EU despite heavy Russian pressure and export restrictions. Ukraine War Spillover: A Ukrainian drone hit a passenger train in Russia-annexed Crimea, while attacks on Ukraine’s infrastructure and energy systems continued, underscoring how the conflict is disrupting regional business and travel. Russia-Linked Energy Deals: Indonesia is set to import 150 million barrels of Russian crude through Lemigas, aiming to streamline procurement under a new regulation. India-Russia Trade Push: India is negotiating to ease export rules and expand bilateral trade toward $100B by 2030, with “Make in Russia for India” fertilizer and critical-minerals joint ventures back on the table. Sanctions and Supply Chains: Kyrgyzstan warned Cyprus that EU sanctions on Russia could hurt Kyrgyz trade and finance, highlighting how secondary routes keep getting tested. North Korea-Russia Trade Risk: Reports say North Korea is importing refined oil from China and Russia far above UN caps, tied to illegal mineral exports and military cooperation. Oil Market Watch: OPEC+ approved another July output increase despite Middle East disruption and Strait of Hormuz uncertainty, keeping price volatility in focus.