In Geopolitics Today: Friday, October 7th
In Geopolitics Today: Friday, October 7th
The US and the UK Study Captured Russian T-90M Tank, Rising Risk of a Wave of Sovereign Debt Defaults, and other stories.
The US and the UK Study Captured Russian T-90M Tank
NATO member intelligence officials are able to examine systems on Russia’s most advanced operational tank captured in Ukraine. Reports will likely include the inspection of the tank’s active protection system, which can intercept missiles at short range.
The T-90M is the latest variant of the T-90 series of main battle tank that first entered into service in 1994. The upgraded version has been vastly improved in terms of protection, mobility, and firepower. In the hands of NATO engineers, the captured T90M will become the subject of a thorough examination of its internal systems. It is unlikely the capture of the T-90M will provide any significant new insights into the capabilities of the tank, but it may allow Ukraine’s backers to identify key parts in the system and subject them to sanctions.
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Pakistan and the United States Reaffirm Positive Ties
Pakistan's Chief of Army Staff General Qamar Javed Bajwa's is visiting the United States as part of Pakistan's efforts to repair strained relations with Washington. Coming weeks before his retirement, General Bajwa's visit is likely intended to reassure Washington that efforts to improve ties will continue.
Bilateral ties between the United States and Pakistan have seen many ups and downs over the course of years. Recently, Ties have been strained of late with former Prime Minister Imran Khan aligning with Beijing and and condemned Washington for its involvement in ousting his own government. Yet with a new government, a financial crisis, and devastating floods all threatening state collapse, Islamabad now needs the cooperation of international financial institutions, something not possible without US support.
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Rising Risk of a Wave of Sovereign Debt Defaults
An increasing number of developing economies are experiencing financial distress, increasing the risk of a wave of sovereign debt defaults. This financial distress is occurring within the context of higher food, energy and import prices. High levels of debt make many developing economies vulnerable to economic and financial distress.
A few countries, including Sri Lanka and Zambia, have already defaulted on their external debt obligations. Others are struggle to repay their debts, among them Bangladesh, Ghana, Pakistan and Serbia, all of which have approached the International Monetary Fund to request financing for what will likely be sovereign debt restructurings. Financial distress in developing economies is set to worsen in the months ahead, threatening a wave of sovereign defaults over the next 24-36 months.
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US to Discourage Companies from Joining Israel Boycott
The United States Department of Commerce has announced plans to bolster the enforcement mechanisms of anti-boycott laws, seeking to deter US companies from boycotting Israel. The new policy, announced by the department on Thursday, would increase fines against those US companies and their subsidiaries that choose to boycott Israel.
The policy changes come two years after four Arab states broke a long-standing regional consensus by normalizing relations with Israel. Now efforts are underway to push back against threats to boycott Israel in an attempt to pressure more members of the Arab League to normalize relations with Israel. More than 30 US states already have passed their own legislation that effectively forces individuals and companies in state contracts to sign a pledge not to boycott Israel, and US lawmakers are working to push forward laws that criminalise the Palestinian-led Boycott, Divestment and Sanctions movement.