The Day at a Glance | July 11 2023

*NATO meets up to discuss Ukraine and Sweden joining the organization. 

*The Kremlin accused NATO of treating Russia as its enemy and said that it will closely follow any decision made in the organization´s summit. 

*FED officials believe the end of the restrictive cycle is very near, although it´s likely that carrying out some additional increases may be necessary. 

*China gives signs of greater reforms concerning oil, gas, and energy.

*OPEC pointed out that global demand for energy will increase in 23% towards 2045. 

Economic environment

NATO leaders will meet in Vilnius, Lithuania, to discuss issues related to Ukraine and Sweden´s membership in the organization; defense plans are being carried out for the first time in decades. This is the organization´s fourth summit since the start of Russia´s invasion of Ukraine, which is evidence of how the war has led the alliance to strengthen. The summit kicked off by defining how NATO will carry out its relations with Ukraine in light of President Zelenskiy calling for Kyiv to be invited to join the organization. Secretary General Jens Stoltenberg said that Ukraine will receive greater military and security aid, in addition to a new format with the alliance in which formal cooperation stipulations are detailed for Ukraine´s entry into NATO. NATO members agreed to not accept Kyiv´s proposal as long as it’s still in war. In light of this, Ukraine´s President said that the decision is “absurd and unprecedented” as no specific date was mentioned for Ukraine to join the organization. Sweden, however, seems to have ensured its entry into NATO once Turkey accepted its request to join the organization after initially rejecting it. Lastly, the US promised to send F-16 war planes to Turkey as military support for Ukraine.