Massive declines in the agricultural, transport and retail sectors have dragged the South African economy into recession after nearly a decade of growth. It is a huge blow to President Ramaphosa’s controversial reforms. GDP in the second quarter contracted by 0.7 percent compared to the first three months of the current year. South African national currency, the rand, extended declines against the US dollar to more than two percent as government bonds fell after the released data. Source RT
OPEC+ headed for a clash with the U.S. as more members rejected President Joe Biden’s call for the group to raise oil production faster and help reduce gasoline prices. On Monday, Kuwait said the cartel should stick with its plan to increase output gradually because oil markets were well-balanced. That followed similar statements from other key members in recent days, including Iraq, Algeria, Angola and Nigeria. Source Al Jazeera
“If a state buys (weaponry) from us, it’s no longer a Turkish product. It might be manufactured in Turkey, but it belongs to Ukraine,” Cavusoglu told reporters after meeting his Russian counterpart, Sergei Lavrov, on the margins of the G20 summit in Rome. “Turkey cannot be blamed for this,” he said. Source The Defence Post
Bulgaria has sent 350 additional military personnel to its border with Turkey amid rising migration levels. Defense Minister Georgi Panayotov told Bulgarian media that the troops were arriving to “support the border police”. Source EuroNews
