BCPR

World in Focus
01 July, 2025

Key Developments

Oil Shifts and Saudi Market Boom: Oil prices Iran's Nuclear Shadow: The IAEA has issued a
have seen a decline amidst easing geopolitical risks stark warning regarding Iran's persistent capability
and anticipated OPEC+ supply increases, though to resume uranium enrichment within months. This
they are still on track for a second consecutive assessment confirms that recent international efforts
monthly gain. Concurrently, Saudi Arabia's equity have not fully dismantled Iran's nuclear
capital market experienced robust activity in the infrastructure, maintaining a critical point of tension
first half of 2025, with six IPOs raising a combined and raising renewed concerns about global nuclear
$2.8 billion, solidifying Tadawul's position in the proliferation.
region. These developments highlight dynamic
shifts in global commodity markets and strong Pakistan's Water Victory: IWT Position
capital market performance in key regional Vindicated. Pakistan is welcoming a statement
economies. from the Court of Arbitration, which it sees as a
vindication of its stance on the Indus Waters Treaty.
Canada's Digital Tax Retreat: Canada has This development carries significant implications
rescinded its controversial digital services tax, a for long-standing water-sharing disputes in the
direct consequence of President Trump's abrupt region and could influence future diplomatic
suspension of trade talks. This move highlights the engagements concerning shared resources.
immediate leverage of U.S. economic pressure and
suggests a potential recalibration of trade relations Moscow's Advance: Moscow's forces have
within North America, prioritizing broader captured the village of Dachnoye in the east-central
agreements over specific digital taxation policies. Ukrainian region of Dnipropetrovsk. This claim
follows Russia's assertion of taking 950 square
Gaza Conflict Escalation: Israeli attacks resulted kilometers of territory in two months, though
in at least 72 deaths in Gaza, escalating the total immediate confirmation from Ukrainian sources or
death toll and pushing the healthcare system to an the Russian Defence Ministry is pending. This
"obliterated" state according to the Red Cross. This development highlights the ongoing territorial shifts
ongoing conflict, marked by strikes on shelters, and the challenges in verifying battlefield claims
underscores a severe humanitarian crisis despite amidst the conflict.
diplomatic efforts to achieve a ceasefire and aid
passage.
Upcoming Developments

 2025 HLPF: The High-level Political Forum on Sustainable Development (HLPF) will convene next
month at UN Headquarters, focusing on "Advancing sustainable, inclusive, science- and evidence-based
solutions for the 2030 Agenda." This critical event will review key SDGs, including health, gender
equality, and economic growth, with 37 countries presenting progress.
 Pak-China Eye New Regional Bloc: Pakistan and China are actively pursuing a proposal to establish a
new regional organization, potentially replacing SAARC, to foster greater integration and connectivity
in South Asia due to SAARC's perceived dormancy.
 Russia and Central Asia's Nuclear Shift: Russia's Rosatom plans to build nuclear power plants in
Kazakhstan, Uzbekistan, and Kyrgyzstan, signaling Central Asia's strategic turn to nuclear energy to
meet surging demand.
 In Kazakhstan, Rosatom's proposal for the country's first NPP, featuring two 1,000 MW
units, has been selected, with a roadmap approved for development near Lake Balkhash.
 Uzbekistan has also secured agreements for a large-capacity NPP near Tuzkan Lake,
addressing its critical need for increased electricity generation.
 Kyrgyzstan's project timeline is yet to be set. Rosatom is considered the primary candidate to
tackle the nation's significant power deficit.