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Peter Krauth, editor of Silver Stock Investor and Silver Advisor, outlines the factors driving silver’s recent price run, which has pushed the white metal to levels not seen in over a decade.

In his view, the current macroeconomic environment is combining with short supply and strong demand dynamics to create a ‘perfect storm.’

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Energy sector innovators took center stage on Wednesday (June 11), with Eclipse Automation securing major deals in nuclear infrastructure, and Oklo (NYSE:OKLO) snagging a key US clean energy contract.

Eclipse Automation, part of Accenture (NYSE:ACN), has secured multiple contracts to design, manufacture and supply advanced automated tooling and equipment for upcoming CANDU nuclear reactor refurbishment projects.

The projects are at the Cernavoda plant in Romania and the Qinshan facility in China, and the agreements include automated inspection units, radioactive-handling systems, reactor-assembly tools and a remote-control center.

Based in Cambridge, Ontario, and backed by Accenture’s global footprint, Eclipse Automation is working to bolster nuclear safety and efficiency with cutting-edge technology.

“In the last decade, Eclipse has delivered automated solutions and equipment to support nuclear refurbishment work at the Embalse reactor in Argentina, and at the Darlington and Bruce nuclear generating stations in Canada,” said Steve Mai, CEO of Eclipse Automation, in the company’s press release.

Putting the ‘Can’ in CANDU

Canada’s CANDU (Canada deuterium uranium) reactors trace their origins back to the 1950s, with the first commercial unit, NPD, launching in 1962 using heavy water moderation and natural uranium fuel. Featuring pressure tubes and online refueling, CANDUs allow continuous operation, unlike light-water reactors that require shutdowns.

Today, 19 CANDU reactors operate in Canada, primarily in Ontario and New Brunswick, and over a dozen more are deployed abroad in South Korea, Romania, China, Argentina and India.

The design is prized for high reliability, clean power and the ability to burn natural uranium and alternative fuels.

Canada and other countries are now investing in life extensions and advancing next-generation designs like the Enhanced CANDU-6, the Advanced CANDU reactor and small modular reactors, supported by federal funding to sustain a domestic supply chain and global competitiveness.

Defense department eyes microreactors

Elsewhere, advanced nuclear company Oklo received a notice of intent to award from the US Department of Defense to deploy its Aurora microreactor at Eielson Air Force Base in Alaska.

The project, which will be led by the Defense Logistics Agency Energy, will serve as the Air Force’s pilot for enhancing energy resilience at remote sites. Under a long-term power purchase agreement, Oklo will design, build, own and operate the reactor, supplying both electricity and heat. The Aurora system uses fast reactor technology to deliver continuous, off-grid power — ideal for mission-critical infrastructure.

‘This Notice of Intent to Award reflects continued confidence in Oklo’s ability to deliver clean and secure energy solutions for mission-critical infrastructure,’ said Jacob DeWitte, co-founder and CEO of Oklo. ‘We are honored to support national defense resilience objectives while demonstrating the value of US-pioneered fast reactor technology.’

These contracts reflect a global resurgence in nuclear energy as countries look for ways to power their expanding grids with clean energy.

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

FireFly Metals (ASX:FFM,TSX:FFM,OTC Pink:MNXMF) has attained firm commitments to raise up to about AU$95 million, giving it a total of AU$135 million for its multi-pronged growth strategy.

The company highlighted on Tuesday (June 10) that the equity financing will be completed via the issuance of approximately 94.7 million fully paid ordinary shares; it will receive around AU$1 per new share.

The funds will be raised via three transactions, with the first being an AU$11.2 million charity flow-through placement to Canadian investors. This will be followed by a AU$54.9 million two-tranche institutional placement, as well as a AU$28.8 million fully underwritten Canadian bought-deal offering with BMO Capital Markets.

Alongside the equity raising, FireFly is inviting shareholders to participate in a non-underwritten share purchase plan (SPP) that can potentially raise up to AU$5 million before costs.

Proceeds of the equity raising and the SPP will collectively be allotted to advance the Green Bay copper-gold project in Canada, including transaction costs and working capital.

Located in the Baie Verte district of Northeast Newfoundland on Canada’s east coast, Green Bay was acquired by FireFly in August 2023. Green Bay includes Ming underground mine, which was mined between 1972 and 1982, with activity restarting in 2012. Historic production totaled 6.7 million metric tons (MT) at 2 percent for 134,000 MT of copper.

Measured and indicated resources at Ming are at 21.5 million MT at 1.8 percent for 307,000 MT of copper equivalent, while inferred resources are at 28.4 million MT at 2 percent for 576,000 MT of copper equivalent.

FireFly began drilling at Ming in October 2023, completing 79 drill holes across 37,110 meters within a year.

“The overwhelming demand for the raising reflects the quality and growth outlook at Green Bay, our commitment to a multi-rig exploration campaign and the demand among global investors for top-shelf copper-gold projects,” said FireFly Managing Director Steve Parsons in the company’s press release.

He called the asset, alongside FireFly’s exploration team and AU$135 million in funding, “the ideal recipe for growth.”

FireFly states on its website that it will continue with its low-cost rapid resource growth strategy, with the underground exploration drill drive at the Ming deposit to be extended during this year.

The company debuted on the Toronto Stock Exchange in December 2024.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Here’s a quick recap of the crypto landscape for Wednesday (June 11) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$108,710, a slight decrease of 0.8 percent in 24 hours. The day’s range for the cryptocurrency brought a low of US$108,574 and a high of US$110,269.

Bitcoin price performance, June 11, 2025.

Chart via TradingView.

Bitcoin has surged over 10 percent since June 5, briefly reaching US$110,000 on Wednesday.

If Bitcoin breaks its US$112,000 all-time high, analysts believe it could make a rapid rise to US$114,000, with further gains predicted if momentum continues. Experts’ targets range from US$120,000 to US$150,000 in the short term, while long-term forecasts sit between US$1 million and US$2.4 million.

This week’s on-chain analysis from Glassnode shows a deviation from past bull markets, with long-term holders continuing to buy instead of selling. This points to growing institutional interest and a shift toward long-term thinking. Price swings are unusually low, suggesting a stable market, but moves could be sharp if demand shifts.

Ethereum (ETH) ended the day at US$2,810.96, a 1.6 percent increase over the past 24 hours. The cryptocurrency reached an intraday low of US$2,796.60 and saw a daily high of US$2,870.74

Altcoin price update

  • Solana (SOL) closed at US$162.72, down 0.5 percent over 24 hours. SOL experienced a low of US$163.05 and reached a high of US$167.80 on Wednesday.
  • XRP was trading at US$2.29, down by 0.3 percent to its lowest valuation in 24 hours. The cryptocurrency reached a high of US$2.33 for the day.
  • Sui (SUI) was trading at US$3.42, showing a decreaseof 0.7 percent over the past 24 hours and its lowest valuation of the day. It peaked at US$3.51.
  • Cardano (ADA) closed at its lowest price of the day at US$0.7041, down 0.5 percent over the past 24 hours. Its highest valuation was US$0.7285.

Today’s crypto news to know

Experts make ETF approval calls

Bloomberg exchange-traded fund (ETF) analysts Eric Balchunas and James Seyffart are calling for a ‘potential Alt Coin ETF Summer,’ according to a note released on Wednesday.

“Get ready for a potential Alt Coin ETF Summer with Solana likely leading the way (as well as some basket products) via @JSeyff note this morning which includes fresh odds for all the spot ETFs,” an X post from Balchunas states.

They predict that the US Securities and Exchange Commission (SEC) could approve exchange-traded funds (ETFs) tracking broad crypto indexes by July. The SEC could also “act early on spot Solana and staking ETF filings” after REX-Osprey filed for Solana and Ethereum ETFs with staking components using a C-Corp structure on May 30.

Seyffart and Balchunas now place the approval odds of SOL and Litecoin ETFs at 90 percent. Spot Solana ETF approval odds also jumped to 91 percent on Wednesday on Polymarket.

Stripe to acquire Privy

Stripe has announced plans to acquire Privy, a specialized cryptocurrency wallet infrastructure developer, for an undisclosed amount in a deal signaling Stripe’s deepening involvement in the digital asset space.

Under the terms of the purchase, Privy will operate as a subsidiary within Stripe, focusing on providing infrastructure for developers engaged in building solutions on cryptocurrency rails. According to Privy’s announcement, this transition to Stripe’s umbrella will empower the company with “more resources, flexibility, and firepower.”

Privy’s core expertise lies in offering comprehensive infrastructure for companies involved in the development and management of digital asset wallets. Its tech enables millions of secure crypto wallets on a global scale.

This acquisition aligns with the broader trend of established financial institutions and tech giants integrating blockchain and cryptocurrency technologies into their portfolios.

Ukraine considers adding crypto to national reserves

The Verkhovna Rada, Ukraine’s parliament, received a draft bill on Tuesday (June 10) that proposes modifications to banking laws. These changes would permit the National Bank of Ukraine to incorporate cryptocurrencies into its reserves, standing alongside gold and foreign currencies. According to Yaroslav Zhelezniak, a member of parliament who confirmed the introduction of the bill via Telegram, bill 13356 would allow crypto to be included, but the central bank would retain full discretion over how much of its reserves to allocate to crypto and would not be required to add it.

Zhelezniak clarified in a video interview with Kyrylo Khomiakov, Binance’s regional head for Central and Eastern European countries and Central Asia, that while the draft bill has been introduced, the Ukrainian government isn’t pushing for cryptocurrency, but wants to keep pace with its increasing global usage.

“This story has the right to life, and, as we see, many countries are implementing it,” he said.

Bullish confidentially files for US IPO amid pro-crypto climate

Crypto exchange Bullish has confidentially filed for a US initial public offering (IPO), signaling renewed optimism in digital assets as Donald Trump’s administration ushers in a more crypto-friendly regulatory landscape.

Backed by billionaire Peter Thiel and led by former NYSE President Tom Farley, Bullish’s IPO plans mark a major comeback after its failed SPAC merger in 2021. The company’s move follows Circle’s (NYSE:CRCL) blockbuster US$1.1 billion IPO and coincides with a wave of new filings, including Gemini’s confidential application last week.

Jefferies is slated to lead underwriting for Bullish, though the bank has declined to comment.

Ondo brings tokenized US treasuries to XRP ledger

Ondo Finance has launched its tokenized short-term US Treasury product, OUSG, on the XRP Ledger (XRPL), using Ripple’s new RLUSD stablecoin for settlement. This marks the first time tokenized Treasuries are accessible on XRPL, allowing institutional investors to mint and redeem around the clock with instant settlement.

OUSG provides exposure to low-risk, short-term Treasuries and is already live on Ethereum and Solana, with a combined US$670 million in assets across chains. With US$30 million in total value locked already on XRPL, this expansion could significantly scale institutional DeFi on public ledgers.

Strategy hit with lawsuit over alleged misleading Bitcoin strategy

Strategy (NASDAQ:MSTR) is facing a class-action lawsuit alleging that the Michael Saylor-led firm misled shareholders about the risks of its Bitcoin-heavy investment approach.

Law firm Levi & Korsinsky filed the suit on Tuesday, calling on investors who bought shares between April 2024 and April 2025 to join the case, with a lead plaintiff deadline set for July 15.

The complaint cites the company’s recent US$5.91 billion unrealized loss due to Bitcoin’s volatility and claims executives downplayed risk while hyping upside potential. On April 7, the company dropped nearly 9 percent after disclosing a Q1 loss; by May 1, Strategy had formally admitted to the nearly US$6 billion hit.

A second lawsuit, filed by Anas Hamza, is also underway for alleged violations of the Securities Exchange Act.

Saylor has defended the firm’s strategy, arguing that its capital structure is resilient even in the face of a 90 percent Bitcoin crash. Strategy has not issued an official comment on the lawsuits.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Nintendo sold more than 3.5 million units of its flagship Switch 2 gaming system in the four days following its launch, with online stores of major U.S. retailers putting up “out of stock” signs.

The record-breaking start for the company’s first new console in eight years, puts Nintendo on the path to realizing its aim of selling 15 million units of the Switch 2 console in the fiscal year ending March 2026.

However, analysts continue to believe that those expectations are modest, and forecast the strong initial demand to sustain.

“The market expected a record from Nintendo, and as it turns out, Nintendo delivered,” Serkan Toto, CEO and founder of gaming industry consultancy Kantan Games, told CNBC.

“All signals prior to launch pointed to significant demand, and I believe we will see further records broken over the next weeks or months,” he added.

Toto has maintains that the Switch 2 will sell over 20 million units in its first 12 months. David Gibson, senior research analyst at MST Financial told CNBC that he expects 20 million sales for the year ending March 2026.

The Switch 2, which was released on June 5, has been met with much fanfare, with people lining up for hours ahead of midnight releases at Nintendo stores.

“Fans around the world are showing their enthusiasm for Nintendo Switch 2 as an upgraded way to play at home and on the go,” Nintendo of America President and Chief Operating Officer Doug Bowser said in a statement, adding the company was thankful for the response.

Tokyo-listed shares of Nintendo, which have gained nearly 30% so far this year, were down 3.5% on Wednesday, LSEG data showed. The company has seen its shares rise nearly fivefold since the original Switch debuted in early March 2017.

It remains to be seen if the Switch 2 can recapture the magic of its predecessor, which had set the bar with 15 million unit sales in its first year. It went on to sell more than 152 million units to become the second-highest selling Nintendo device ever, behind the Nintendo DS.

The record initial sales of the Switch are in line with the strong demand analysts had predicted. However, the rush has put into question Nintendo’s ability to meet demand.

Retailers including Walmart, GameStop, Target and Best Buy were out of stock of the consoles, their online stores showed Wednesday.

In April, Nintendo’s Bowser told CNBC that the company had been working with “retail partners to ensure there’s ample supply for not only the launch weekend, but well beyond.”

However, Nintendo President Shuntaro Furukawa stated the same month that 2.2 million people in Japan had entered the lottery to purchase the Switch 2 on launch day, exceeding expectations and what the company had initially planned to deliver to stores.

Kantan Games’ Toto said shortages in Japan were expected to persist, but would be less impactful elsewhere.

“Except for Japan where demand for Switch 2 is extraordinarily high, it looks like fans who really want the console and invest time in trying to secure one actually can get one,” he said. “It might take a while, but as far as can be monitored, supply seems to be more robust than around the launch of the original Switch in 2017.”

President Donald Trump’s “reciprocal tariffs” on most countries around the world also present headwinds for the Switch 2.

In April, the company announced that it would delay preorders of the Switch 2 in the U.S. while it considers the impact of tariffs.

The Switch 2 retails for $449 in the U.S., which makes it Nintendo’s priciest console to date.

Nintendo’s Bowser said in April the company was going to “monitor where tariffs are going” before making any further decisions on price hikes.

MST Financial’s Gibson said that a resolution to Trump’s tariffs and lower duty rates could see the Switch 2 prices drop in the U.S.

The Switch 2 builds on the success of the original Switch, featuring a larger screen and improved performance. The system also introduces the new GameChat2 feature, which allows players to voice or video chat with friends online and share game screens.

This post appeared first on NBC NEWS

Nintendo sold more than 3.5 million units of its flagship Switch 2 gaming system in the four days following its launch, with online stores of major U.S. retailers putting up “out of stock” signs.

The record-breaking start for the company’s first new console in eight years, puts Nintendo on the path to realizing its aim of selling 15 million units of the Switch 2 console in the fiscal year ending March 2026.

However, analysts continue to believe that those expectations are modest, and forecast the strong initial demand to sustain.

“The market expected a record from Nintendo, and as it turns out, Nintendo delivered,” Serkan Toto, CEO and founder of gaming industry consultancy Kantan Games, told CNBC.

“All signals prior to launch pointed to significant demand, and I believe we will see further records broken over the next weeks or months,” he added.

Toto has maintains that the Switch 2 will sell over 20 million units in its first 12 months. David Gibson, senior research analyst at MST Financial told CNBC that he expects 20 million sales for the year ending March 2026.

The Switch 2, which was released on June 5, has been met with much fanfare, with people lining up for hours ahead of midnight releases at Nintendo stores.

“Fans around the world are showing their enthusiasm for Nintendo Switch 2 as an upgraded way to play at home and on the go,” Nintendo of America President and Chief Operating Officer Doug Bowser said in a statement, adding the company was thankful for the response.

Tokyo-listed shares of Nintendo, which have gained nearly 30% so far this year, were down 3.5% on Wednesday, LSEG data showed. The company has seen its shares rise nearly fivefold since the original Switch debuted in early March 2017.

It remains to be seen if the Switch 2 can recapture the magic of its predecessor, which had set the bar with 15 million unit sales in its first year. It went on to sell more than 152 million units to become the second-highest selling Nintendo device ever, behind the Nintendo DS.

The record initial sales of the Switch are in line with the strong demand analysts had predicted. However, the rush has put into question Nintendo’s ability to meet demand.

Retailers including Walmart, GameStop, Target and Best Buy were out of stock of the consoles, their online stores showed Wednesday.

In April, Nintendo’s Bowser told CNBC that the company had been working with “retail partners to ensure there’s ample supply for not only the launch weekend, but well beyond.”

However, Nintendo President Shuntaro Furukawa stated the same month that 2.2 million people in Japan had entered the lottery to purchase the Switch 2 on launch day, exceeding expectations and what the company had initially planned to deliver to stores.

Kantan Games’ Toto said shortages in Japan were expected to persist, but would be less impactful elsewhere.

“Except for Japan where demand for Switch 2 is extraordinarily high, it looks like fans who really want the console and invest time in trying to secure one actually can get one,” he said. “It might take a while, but as far as can be monitored, supply seems to be more robust than around the launch of the original Switch in 2017.”

President Donald Trump’s “reciprocal tariffs” on most countries around the world also present headwinds for the Switch 2.

In April, the company announced that it would delay preorders of the Switch 2 in the U.S. while it considers the impact of tariffs.

The Switch 2 retails for $449 in the U.S., which makes it Nintendo’s priciest console to date.

Nintendo’s Bowser said in April the company was going to “monitor where tariffs are going” before making any further decisions on price hikes.

MST Financial’s Gibson said that a resolution to Trump’s tariffs and lower duty rates could see the Switch 2 prices drop in the U.S.

The Switch 2 builds on the success of the original Switch, featuring a larger screen and improved performance. The system also introduces the new GameChat2 feature, which allows players to voice or video chat with friends online and share game screens.

This post appeared first on NBC NEWS

The United Kingdom and other Western allies have imposed sanctions on two hardline Israeli government ministers for “repeated incitements of violence against Palestinian communities” in the West Bank, Britain’s foreign office announced Tuesday.

National Security Minister Itamar Ben Gvir and Finance Minister Bezalel Smotrich will face a travel ban and an asset freeze in the UK, the government said.

Ben Gvir and Smotrich both lead far-right political parties that help keep Prime Minister Benjamin Netanyahu’s fragile government coalition afloat. Both men have faced criticism for their inflammatory comments about the occupied West Bank as well as their positions on the war in Gaza.

The sanctions are being jointly implemented by the UK, Australia, Canada, New Zealand and Norway, according to a joint statement by the countries’ foreign ministers.

“We are steadfastly committed to the two-state solution which is the only way to guarantee security and dignity for Israelis and Palestinians and ensure long term stability in the region, but it is imperilled by extremist settler violence and settlement expansion,” the joint statement said.

“Itamar Ben-Gvir and Bezalel Smotrich have incited extremist violence and serious abuses of Palestinian human rights. Extremist rhetoric advocating the forced displacement of Palestinians and the creation of new Israeli settlements is appalling and dangerous,” the statement added. “We have engaged the Israeli Government on this issue extensively, yet violent perpetrators continue to act with encouragement and impunity.”

While the sanctions are in relation to the West Bank, the Western allies’ statement added that “of course this cannot be seen in isolation from the catastrophe in Gaza. We continue to be appalled by the immense suffering of civilians, including the denial of essential aid.”

Smotrich and Ben Gvir both live in settlements in the West Bank, which Palestinians and the vast majority of the international community hold as part of a future Palestinian state.

Ben Gvir, the leader of the Jewish Power party, reacted to the move Tuesday afternoon, saying that “the sanctions do not scare me.” He added: “I will continue to act for our country, for our people, I will continue to act and make sure that they do not let humanitarian aid into Hamas.”

Smotrich said Tuesday that he “heard that Britain has decided to impose sanctions on me because I’m thwarting the establishment of a Palestinian state.”

“Britain already tried once to prevent us from settling the cradle of our homeland, and we will not let it happen again. With God’s help, we are determined to continue building,” said Smotrich, who leads the National Religious Party–Religious Zionism.

This is a developing story and will be updated.

This post appeared first on cnn.com

The European Union announced a new package of sanctions against Russia on Tuesday, saying that Moscow’s daily deadly attacks against Ukraine show that it is not interested in peace – despite recent diplomatic efforts.

The new package – the 18th since Russia launched its full-scale unprovoked invasion against its neighbor in 2022 – is designed to further target the Kremlin’s ability to make money from its oil and gas production.

The proposal includes lowering the price cap on Russian oil exports from $60 to $45 per barrel and introducing a full transaction ban on Russian banks and financial institutions in third countries that help Russia circumvent existing sanctions.

The EU said it is also proposing a ban on the use of Russian energy infrastructure, forbidding any EU operator from engaging directly or indirectly in any transactions that involve the Nord Stream pipelines.

The new package will need to be approved by the EU’s 27 member states. That could be complicated given previous concerns raised by some more pro-Kremlin governments, such as Hungary and Slovakia, about further sanctions targeting Russia.

While both those countries have previously threatened to block new rounds of sanctions, so far they have ultimately voted in favor of them.

The President of the European Commission Ursula von der Leyen said the sanctions were necessary “because strength is the only language that Russia will understand.”

“We want peace for Ukraine. Despite weeks of diplomatic attempts, despite (Ukraine’s) President (Volodymyr) Zelensky’s offer of an unconditional ceasefire, Russia continues to bring death and destruction to Ukraine. Russia’s goal is not peace, it is to impose the rule of might. Therefore, we are ramping up pressure on Russia,” von der Leyen said at a news conference in Brussels.

The leaders of Germany, France, the United Kingdom and Poland last month told Russian leader Vladimir Putin to agree to a 30-day ceasefire or face possible “massive” sanctions. Putin ignored the ultimatum, proposing instead “direct talks” between Moscow and Kyiv.

But two rounds of talks in Istanbul, Turkey, have made it clear Russia is sticking to its maximalist demands that would essentially equate to Ukraine’s capitulation.

Targeting Russian energy

Explaining why the EU has targeted Russia’s energy sector, the Commission chief said oil exports still represent one third of Russian government revenues.

“We need to cut this source of revenue,” she said.

The oil price cap was introduced by the EU and G7 countries in December 2022.

The cap, which applies to Russia’s seaborne oil exports, prohibits Western companies from providing shipping, insurance and other services needed to export the fuel unless it is priced below the threshold.

By enforcing a price cap, the EU and its allies have tried to diminish a key source of revenue for the Kremlin while still allowing its oil to flow to the global energy market – because cutting Russia’s supplies completely could destabilize the market and cause prices to shoot up.

Von der Leyen said on Tuesday that the price cap needs lowering because global oil prices had fallen since the cap was first introduced and now trade “very close” to the $60 level.

The price of a barrel of Brent crude, the global oil benchmark, has dropped 18% since the price cap on Russian crude took effect on December 5, 2022. It was trading at almost $68 a barrel late morning Eastern Time (ET) on Tuesday.

The bloc also wants to harden sanctions on Russia’s banking sector. Shortly after the invasion, the United States, EU, Britain and Canada jointly banned some Russian banks from the SWIFT messaging service – a high-security network connecting thousands of financial institutions around the world. That has made it far more difficult for those banks to send and receive money from abroad.

Now, the Commission wants to go a step further and prevent any EU operator, such a a business, from conducting a transaction with a list of sanctioned Russian banks. It also plans to add another 22 of Moscow’s banks to that list. Additionally, the bloc wants to extend the transaction ban to financial institutions in third countries that help Russia circumvent existing sanctions.

Von der Leyen said the latest package of sanctions will also broaden the current ban on materials and technologies that can be exported to Russia, adding: “We want to make sure that Russia does not find ways to modernize its weapons with European technologies.”

The sanctions will also include new measures against 22 Russian and foreign companies providing direct or indirect support to Russia’s military and industrial complex.

This post appeared first on cnn.com

France said it has received a letter from the Palestinian Authority that contains “concrete and unprecedented commitments” to reform as Paris prepares to co-chair a conference on Palestinian statehood in New York.

“Hamas will no longer rule Gaza and must hand over its weapons and military capabilities to the Palestinian Security Forces, which will oversee their removal outside the occupied Palestinian territory, with Arab and international support,” the Élysée Palace cited Abbas as writing.

The letter France says it received comes as anticipation builds around whether President Emmanuel Macron might recognize the State of Palestine at a summit next week aimed at building support for Palestinian statehood at the United Nations. France is co-chairing the summit with Saudi Arabia.

France said Abbas pledged to organize presidential and general elections within a year in order to “rejuvenate the Palestinian governance.”

Abbas, 89, is deeply unpopular among Palestinians. He has led the PA since the death of Palestinian leader Yasser Arafat in 2004 and has clung to power despite being seen by critics as lacking democratic legitimacy. Proposals put forth by Arab states for a post-war Gaza have excluded Hamas from governance and called for the reformation of the PA.

The Guardian reported on Saturday that France may be retreating from its plan. The conference “has weakened its ambition and will instead hope to agree on steps towards recognition,” The Guardian said, citing diplomats, adding that “French officials briefing their Israeli counterparts this week reassured them the conference will not be the moment for recognition.”

“We can clearly see that some have an interest in suggesting that we are not moving in the direction of recognition. That is false,” the source said Tuesday, adding that “we are determined to recognize a Palestinian state in order to create the conditions for the state’s existence.”

The source highlighted the importance of the upcoming conference at the UN.

“Recognizing Palestinian statehood is consistent with France’s position in support of the legitimate aspirations of the Palestinian people,” the source said. “As part of the June 18 conference, it must contribute meaningfully to the momentum behind implementing the two-state solution, based on the principles reaffirmed by the President of the Republic.”

France would be the most prominent Western country to recognize Palestinian statehood. Last year, Spain, Ireland and Norway formally recognized the State of Palestine in a move that provoked backlash from Israel.

This post appeared first on cnn.com

A series of explosions were reported in the Colombian city of Cali on Tuesday morning.

The city’s mayor, Alejandro Eder, said authorities were “responding to two explosive devices in our city: one at the Meléndez police station and another at the Manuela Beltrán CAI.”

“Our law enforcement officers are already on site, and health teams are on standby for any eventuality,” the mayor stated on social media.

Several people were injured in the explosions, the sources said.

This is a developing story and will be updated.

This post appeared first on cnn.com