The end of the New START?
New START, the last nuclear arms control treaty between the US and Russia, expires today. Signed in 2010, it limited each side to 1,550 warheads and required inspections and data sharing. Its absence removes the final binding constraint on the world’s two largest nuclear arsenals. Russian President Vladimir Putin suspended negotiations back in 2023 because of the US and NATO’s support for Ukraine, and US President Donald Trump says he is letting it lapse with the goal of creating a new one. With other treaties already gone, there will be no inspections, no transparency, and no formal limits as both sides modernize their forces – the first time since 1972 that there are no limits on these two superpowers' arsenals. There is still some hope in the near term: the two sides are reportedly nearing a deal to observe the treaty past today’s deadline, but it still needs approval from Trump and Putin.
Syria looks to revive its oil sector with new Chevron deal
Chevron has penned a deal with Syria’s state-owned oil company to explore development of the country’s first offshore oil and gas field, as President Ahmed al-Sharaa attempts to revive the energy sector destroyed by 14 years of civil war. It comes after the government seized control of crucial oil and gas fields from a Kurdish-led militia last month. Before the war, oil was a major pillar of Syria’s economy, accounting for around 25% of state revenues and producing enough to cover all its energy needs. Currently, the country experiences frequent blackouts, and the sector’s infrastructure has been decimated. Chevron hopes the deal will help it expand its foothold in the Mediterranean and eventually become a major supplier to Europe.
The lights go off in parts of Cuba
Eastern Cuba suffered a major blackout on Wednesday night, with power outages across three provinces, including the island’s second-largest city, Santiago de Cuba. The communist-run island was already in dire straits, amid economic turmoil and mass emigration following the COVID-19 pandemic. Power outages have been common, but the de facto US oil blockade – it has halted shipments from Venezuela and pressured Mexico into reducing its crude exports – has made the situation worse. Last week, a data firm estimated that Cuba only had enough oil to last 15 to 20 days. It’s unclear when the power will be restored.
