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Russia has been at war in Ukraine for four and a half years, and in that time it has been facing major sanctions from the U.S., the European Union, and other entities.

This has led to possible short-term trouble for the Russian economy, including a potential banking crisis, according to a new report.

The 1-148th Field Artillery Regiment is the latest unit in the Idaho Army National Guard to upgrade its combat capability as modernization efforts across the U.S. Army and Army National Guard take shape.

The Strait of Hormuz Is Emptying Again–and the Stakes Have Never Been Higher: Commercial shipping through the Strait of Hormuz (SoH), a critical chokepoint for global energy supplies, has again fallen to near-zero levels since the resumption of hostilities between the United States and the Islamic Republic of Iran. Because of those hostilities, the US has both continued its aerial bombardment of the Islamic Republic and imposed its naval counter-blockade of the SoH.

Why Ukraine Is Targeting the Sea of Azov: It is an established fact that Ukraine’s ongoing long-range strikes against Russia are intended to raise the cost of sustaining the war, but recent strikes against cargo ships and Russian-linked vessels suggest that Kyiv is also doing something more. Ukraine, it seems, is turning one of Russia’s safest logistical corridors into an enormous headache, putting pressure on the Russian economy and creating Moscow’s own Strait of Hormuz-style crisis.

Kyiv said on Thursday, July 16, that it had struck at least 11 more Russian-linked vessels.

The Strait of Hormuz handles around one-fifth of global oil trade. Understandably, the Islamic Republic views this chokepoint as an “unbreakable red line”.

In a recent interview on Joe Rogan’s podcast, Vice President JD Vance described two factions in Iran: the “crazies” and the “pragmatists,” With the breakdown of the MoU indicating the “crazies” are currently winning the internal policy battle.

A U.S. Air Force F-22 Raptor, flown by Capt.

While the United States has intensified its airstrikes against Iran, centering its attacks in the south along the coastal region, and other deep strikes, it also fired Hellfire missiles on an empty tanker that was headed for Kharg Island, after it attempted to run the US Navy’s blockade.

Iran responded on Thursday with several attacks using missiles and drones targeting Bahrain, Jordan and Kuwait, which host US bases.

B-1B Lancer Bomber in Museum in Dayton, Ohio. Image Credit: Harry J. Kazianis/National Security Journal.

A U.S.

Recently, Ukraine has expanded its long-range drone campaign to the sea. The Sea of Azov, which is a vital trade hub for Russian maritime transport, has come under attack by Ukrainian drones, hoping to disrupt traffic in the waterway.

The Sea was previously out of reach for Kyiv, but recent advances in mid-to-long-range strike capabilities have allowed it to reach the waterway with ease. Over the last couple of weeks, Ukraine has managed to hit 116 targets, the vast majority of which are tankers, some of which Kyiv claims are part of Russia’s ‘shadow fleet.

U.S. Expands Iran Strikes As Tehran Lashes Out Across Region: The United States once again expanded its military campaign against Iran overnight into Thursday, July 16, striking military sites around the Strait of Hormuz as well as other sites around Tehran. Iran responded to the attacks with missile and drone strikes targeting six American-linked bases throughout Bahrain, Jordan, and Kuwait.

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A controversial veterans benefits bill that is estimated to reduce future disability ratings by nearly $60 billion over a decade to pay for expanded compensation hit a speed bump on Thursday.
The House of Representatives postponed a planned vote on the Take Care of America’s Veterans Act, a package of more than 60 legislative proposals. The move came after an effort to send the bill back to the Veterans Affairs Committee failed by just one vote. No information was immediately available on when the bill might come up for a vote again.

The Russian Economy “Is An Illusion” Built On Debt: With the current energy crisis already wreaking havoc on Russia’s economy, a banking crisis may soon erupt as a mountain of debt weighs on consumers and businesses due to bad lending practices.

Fortune magazine wrote that the Kremlin urged banks to approve and even encouraged millions of Russians to take out three or more loans simultaneously.

But lenders are now vulnerable amid soaring indebtedness and deteriorating loan quality, while consumers buckle under high inflation.

Raytheon updated this reporter on the status of its plans to reinforce US naval radars under Project Storm.