Real-time News

July 11 - Iran's Permanent Representative to the United Nations, Illavani, warned on the 11th that if the United States continues to violate its obligations, Iran will no longer abide by the memorandum of understanding signed with the United States.

According to Axios, a regional source said that parties are discussing the possibility of issuing a potential statement on the full opening and free passage of the "middle channel" (located in international waters) in the Strait of Hormuz.

According to RIA Novosti, the Russian Ministry of Defense stated that Ukrainian President Zelenskyy has deployed almost all available Western missile defense systems to Kyiv.

Saudi Foreign Ministry: The Saudi Foreign Minister spoke with the Pakistani Foreign Minister and reaffirmed support for mediation efforts and the resumption of dialogue.

Ukrainian Foreign Minister: What we need now is firm, joint action. We must deprive Russia of its ability to intimidate Ukrainian cities.

Ukrainian Foreign Minister: Russia continues to attack Ukrainian cities with all available weapons. This is not "pressure" or "escalation."

Ukrainian Foreign Minister: This morning, Russia attacked Kyiv with ballistic missiles. Now it has attacked Sumy with guided-missile bombs. At least four people have been killed and seven injured. Rescue operations are still underway.

On July 11, Iranian Parliament Speaker Mohammad Ghalibaf announced on social media that those responsible for the killing of Ali Khamenei would be held accountable. Ghalibaf emphasized that those responsible for attacks on Iranian territory, the killing of Iranian citizens, and especially the murder of Ali Khamenei, would be punished. The funeral for the late Supreme Leader Ali Khamenei was held on July 9 in Mashhad, his birthplace in northeastern Iran.

On July 11, the Ministry of Civil Affairs issued a notice requiring local civil affairs departments to make every effort to carry out flood prevention and disaster relief work. The notice requires that social forces be guided and regulated to participate in disaster relief in a scientific and orderly manner. It calls for active cooperation with emergency management and other departments to guide social organizations in the emergency rescue field to leverage their professional advantages, connect with social resources, and coordinate flood prevention and disaster relief work in an orderly and collaborative manner. It also requires guiding charitable organizations to proactively connect with the needs of disaster areas, conduct disaster relief charitable donations in accordance with laws and regulations, promptly allocate donated funds and materials, and ensure information disclosure.

July 11 - According to data from Lighthouse Pro, as of 8:34 PM on July 11, the daily box office revenue of the domestic film market exceeded 300 million yuan, marking the first time since February 26 this year that the daily box office revenue has exceeded 300 million yuan.

July 11th - According to the official WeChat account of Hangzhou Metro, due to the impact of Typhoon Bavi (No. 9), Hangzhou City has activated a Level I typhoon emergency response. Starting at 6:00 AM on July 12th, the entire metro network will be suspended, with the resumption time to be announced separately.

On July 11, Claudio Descalzi, CEO of Eni, the Italian state-owned holding group, stated that if the Middle East conflict continues, the global oil market will break through the current range of approximately $80 to $100 per barrel by the first quarter of 2027 at the latest, pushing up inflation and reducing energy demand. In an interview published Saturday in Il Sole 24 Ore, Descalzi said that the release of strategic reserves has so far helped keep crude oil prices roughly within this range, but this strategy is facing increasing risks because global reserves are finite. “The long-term solution is to enhance energy security through the diversification of supply sources and routes,” he said. Descalzi noted that global oil inventories have fallen by an average of 3.8 million barrels per day due to disruptions related to the war with Iran that began at the end of February, accelerating to an average of 4.6 million barrels per day in May. He stated that countries should focus on producers in North Africa and sub-Saharan Africa, Latin America, and Southeast Asia, while reducing reliance on controlled maritime routes.

July 11th - Industry insiders stated that historically, during periods of high demand in the memory chip industry, manufacturers tend to simultaneously expand production capacity, leading to a concentrated release of new capacity, a price crash, and industry-wide losses. Subsequently, manufacturers collectively reduce capital expenditures, and when demand recovers, another boom occurs – this cycle constitutes the industry's unique cyclical pattern. Since reaching its peak in late June, US memory chip stocks have experienced a collective correction due to concerns about overcapacity, triggered by news such as Meta's sale of computing power. Data shows that industry leaders such as SanDisk, Micron Technology, Seagate Technology, and Western Digital have all seen their stock prices fall by more than 20% in the past few weeks. Analysts point out that the underlying logic supporting current demand for memory chips is facing a reassessment, with the core variable being whether the technological gap between various AI large-scale models will continue to narrow. Analysts also pointed out that the memory chip industry is undergoing a profound change in its business model: in the past, memory was more like a commodity, with prices fluctuating with the market, and contracts were mostly on a quarterly or annual basis; now, cloud vendors and AI data centers are increasingly signing long-term supply agreements with original equipment manufacturers for three to five years, with price ranges, minimum purchase quantities, and customer deposits, in order to ensure critical supply.

July 11 - Due to the impact of Typhoon Bavi, the ninth typhoon of this year, the Hangzhou Bay Bridge will be closed in both directions starting at 19:30 today, prohibiting all vehicles from passing through.

The CEO of Italian oil company Eni said that if the Middle East conflict continues, the oil market may break out of its current range in early 2027.

July 11th - Typhoon Bavi, the ninth typhoon of the year, is expected to impact eastern Hubei, Jiangxi, and Anhui provinces along the middle and lower reaches of the Yangtze River from July 11th to 13th. According to the Yangtze River Maritime Safety Administration, to ensure typhoon safety, following the requirements of "early assessment, early warning, early deployment, early inspection, and early evacuation," the administration raised the typhoon emergency response level for the Anhui-Sichuan section of the Yangtze River main channel to Level II at 18:00 on July 11th.

July 11 – The European Union is developing a “solidarity tool” to support businesses in shifting supplies of critical goods and to cushion the impact of trade conflicts. According to sources, this tool requires funding, and member states are currently negotiating the EU’s next multi-year budget. The exact amount needed is unclear, but given the size of the industries and trade involved, the funding requirements are likely substantial. Some member states are currently pushing for spending cuts. The tool was developed by the EU’s executive body. Sources indicate that national envoys have been briefed on the tool this week.

The China Earthquake Networks Center officially determined that a magnitude 3.3 earthquake occurred at 19:14 on July 11 in Eryuan County, Dali Prefecture, Yunnan Province (26.12 degrees north latitude, 99.86 degrees east longitude), with a focal depth of 11 kilometers.

Russian Deputy Prime Minister: We will begin importing petroleum products this month.

Russian Deputy Prime Minister: The ban on diesel exports is to meet domestic market demand, and we will expedite the repair work on the damaged refineries.