International News 10 July 2026
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Malaysia Still Faces RM8.9 Billion in 1MDB Debt Obligations Despite Asset Recoveries
The Malaysian government still has RM8.9 billion (approximately S$2.8 billion) in outstanding debt obligations linked to the 1Malaysia Development Berhad (1MDB) scandal. The remaining liabilities consist of principal and interest payments on government-guaranteed sukuk that will continue until the Islamic bonds mature in 2039, according to Deputy Finance Minister Liew Chin Tong. Speaking before Parliament, Liew said the government still owes RM5 billion in principal and RM3.9 billion in interest. As of the end of June 2026, Malaysia had spent RM42.5 billion to meet debt obligations related to the scandal, while recovering RM31.3 billion in assets and funds. However, he warned that if no additional assets are recovered, the government will ultimately absorb a net loss of RM20.1 billion, underscoring the long-lasting fiscal impact of one of Malaysia’s largest financial scandals.
Putin Reportedly Intensifies War Effort Despite Trump’s Push for Russia-Ukraine Peace
Efforts by U.S. President Donald Trump to promote peace between Russia and Ukraine appear to have made little progress, as Russian President Vladimir Putin is reportedly preparing to intensify military operations in the coming months. According to three sources close to the Kremlin cited by Reuters, Putin remains unwilling to enter negotiations with Kyiv and is instead focused on capturing the entirety of the Donbas region in eastern Ukraine. The sources said Ukraine’s continued drone attacks on Russian oil refineries, ports, and energy infrastructure have reinforced the Kremlin’s determination to press ahead with the war rather than pursue diplomatic talks. The reported stance suggests that prospects for a negotiated settlement remain limited, with both sides continuing to escalate military operations despite ongoing international efforts to end the conflict.
U.S. Launches Fresh Strikes on Iran After Attacks on Shipping in Strait of Hormuz
The United States launched a new round of military strikes against Iran on Wednesday in response to attacks on commercial cargo vessels transiting the Strait of Hormuz a day earlier. The latest escalation prompted retaliatory Iranian strikes against U.S.-linked targets in Kuwait and Bahrain, further complicating efforts to bring an end to the conflict that has continued since the beginning of the year. The U.S. military said the operation was intended to safeguard freedom of navigation through the Strait of Hormuz, one of the world's most critical energy shipping routes. In a statement posted on X, the United States Central Command (CENTCOM) said American forces had begun additional strikes to further degrade Iran’s ability to threaten maritime traffic in the waterway. CENTCOM also called on Iran to take responsibility for what it described as "unjustified aggression" against commercial vessels and civilian crews operating along the vital international shipping route.