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START Inspections Temporarily Halted, Awaiting New Accord

RUSSIA
  • In response to travel restrictions imposed by the US, Russia will no longer support the resumption of START treaty inspections – an accord aimed at arms control and the regulation of competition in nuclear weapons, according to the WSJ. While the pause in inspections have been deemed ‘temporary’, a fresh accord will need to be reached before the treaty can be restored.
  • Kommersant reports that Russian banks increased lending to the population in July, with the mortgages and cash loans segments recovering at the fastest pace. Banks issued almost 2.8 million loans worth R856.8bln. This was 26% higher than in June, but still marked a drop of close to 27% on the year.
  • Russia’s metal-working industry remains critically dependent on foreign equipment and sanctions continue to force the industry to look for workaround, however the process of import substitution may take at least ten years, according to the Ministry of Industry and Trade.
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