Wednesday, August 05, 2026

 

Ukraine faces $3bn grain export loss as Russia's blockade empties Odesa of ships

Ukraine faces $3bn grain export loss as Russia's blockade empties Odesa of ships
No foreign cargo vessel has entered Odesa, Chornomorsk or Yuzhny in two weeks, and alternative routes can cover only half the lost capacity. / bne IntelliNewsFacebook
By Ben Aris in Berlin August 5, 2026

Ukraine's alternative grain export routes will not reach the capacity needed to compensate for Russia's blockade of Black Sea ports until the end of August at the earliest, and even then will cover only half the volume normally handled through Odesa, Agrarian Policy Minister Taras Vysotskyi told Reuters in an exclusive report on August 4.

Russia has intensified missile and drone attacks on foreign-flagged civilian vessels around Odesa, the hub that handles most of Ukraine's grain shipments, endangering exports of roughly half this year's forecast grain and oilseed crop. “A significant amount of production - specifically, just over 30 million tons - will not be exported to international markets unless this issue is resolved,” Vysotskyi said.

Ukraine recorded 35 attacks on vessels in port and 22 at sea in July, plus 67 strikes on port facilities, according to the infrastructure ministry - against just 14 vessel attacks in all of 2025. Shipowners have suspended calls at the Odesa-area ports entirely: no vessel has entered the region's ports for almost two weeks, Ukrainian MP Levan Gudadze reported on X, citing Vysotskyi, with losses to the agricultural sector potentially reaching $3bn this year - a blockade Vysotskyi called “in some aspects more difficult than it was in early 2022,” the war's first year. Since July 22, the ports of Odesa, Chornomorsk and Yuzhny have not received or dispatched a single foreign cargo ship.

Rerouting around a chokepoint

State rail operator Ukrzaliznytsia is in talks with neighbouring countries to expand transit corridors and is already diverting grain to the Danube ports, Romania's port of Constanta, and onward to Slovakia and Hungary, chief executive Oleksandr Pertsovskyi told Bloomberg. “We are currently diversifying export routes,” he said. “We believe that the situation in Odesa ports will be better, but we are still building alternative routes.”

Even combined, the railway and Danube route can carry only a third of the capacity of Ukraine's Black Sea ports, Vysotskyi said - a maximum of 1mn tonnes of grain a month working with partners, further constrained by record-low water levels on the Danube hindering navigation. Unless flows through Odesa are restored, Ukraine risks exhausting its grain storage capacity by early November, with Bloomberg warning the disruption could feed a wider cost-of-living crisis across the Middle East and North Africa, which rely heavily on Black Sea grain.

IntelliNews has tracked the deterioration of the export outlook through July, including a deadly strike on a Togo-flagged vessel at Odesa port that killed three crew members - part of a campaign that has already pushed Ukrainian producers' oilseed and grain prices down by 30% on average as buyers price in the disruption. Russia, itself the world's largest wheat exporter, has reported its own attacks on agricultural export facilities and vessels in the Black Sea in recent weeks, part of a broader pattern in which both sides are now hitting each other's commercial shipping directly rather than treating civilian cargo routes as off-limits.

Visa acquires Israeli cybersecurity company BioCatch for $2.4bn

Visa acquires Israeli cybersecurity company BioCatch for $2.4bn
Gadi Mazor, Biocatch / bne IntelliNewsFacebook
By IntelliNews Tel Aviv bureau August 4, 2026

US-headquartered Visa has agreed to acquire Israeli digital fraud prevention company BioCatch for $2.4bn in cash, the companies announced in joint press statements.

The latest tech deal out of Tel Aviv is one of the largest deals in Israeli history and the second time the company has changed hands in just over a year, and has shown that large deals are still being conducted despite regional tensions. 

BioCatch, led by CEO Gadi Mazor, a former OurCrowd partner, has developed behavioural biometrics technology that identifies users based on biological parameters including mouse movements and individual browsing patterns.

He said BioCatch would continue operating independently within Visa's value-added services division, retaining its management structure and existing banking relationships. "The company isn't going away," he said in the announcement.

“We will continue to serve the same financial institutions as we have always done: with market-leading technologies and service from a team of solution engineers, threat analysts, conflict managers and global consultants, all working in close collaboration with banking teams," Mazor added. 

“BioCatch will help our clients stop fraud before it reaches the point of payment. This acquisition is part of our strategy to help clients prevent cyber threats upstream, building trust into every transaction,” said Andrew Torre, president of value-added services at Visa. 

The company serves over 350 banks, including 100 of the world's largest, protecting 1.8bn devices and 760mn users globally. It reported 43% growth in annual recurring revenue in 2025 and crossed $100mn ARR at the end of 2023, while also reaching EBITDA profitability.

The acquisition marks a significant uplift from BioCatch's previous valuation. In March 2024, Permira acquired a 57% controlling stake at a $1.3bn valuation, with Bain Capital and Maverick Ventures selling $750mn in shares as part of that transaction.

The Visa deal values the company at $2.4bn, an increase of over $1bn in 15 months. The company has raised $115mn in total from investors including OurCrowd, Maverick Ventures, Bloomberg Capital and Elroy Capital, now controlled by BlackRock. It employs 400 people.

The deal extends Visa's push into fraud prevention infrastructure as financial crime losses continue to mount globally.

  

North Macedonia battles wildfires and water contamination as Europe’s drought intensifies

North Macedonia battles wildfires and water contamination as Europe’s drought intensifies
North Macedonia is facing a surge in wildfires following extreme heat and dry weather. / Crisis Management CenterFacebook
By Valentina Dimitrievska in Skopje August 5, 2026

Europe’s worst drought in decades is disrupting transport, energy and agriculture, with the Balkans increasingly feeling the impact of extreme heat and water shortages.

While several countries in the region are struggling with falling river levels and water supply challenges, North Macedonia is facing another major consequence of extreme heat and dry weather: a surge in wildfires.

Temperatures in Skopje reached 37°C on August 3 and 4, as the country remained under a heatwave expected to continue until the end of the week. The prolonged period of extreme heat, combined with dry vegetation and a lack of significant rainfall, has created ideal conditions for wildfires to spread.

According to the Crisis Management Center (CMC), 14 open-air fires were registered across North Macedonia by 6 pm CET on August 4. One fire remained active, four were under control, while nine had been extinguished.

The Kavadarci region was the hardest hit, after a large wildfire became one of the most difficult interventions among around 30 fires recorded across the country the previous day.

The fire near Kavadarci has been almost completely brought under control and is expected to be fully extinguished by the end of the day, according to Stojance Angelov, director of the Directorate for Protection and Rescue.

Two “air tractors”, as well as army and police helicopters, were deployed to fight the blaze on August 3, while three “air tractors” continued operations from the early morning hours on August 4. Firefighters on the ground played a key role in containing the flames.

Angelov said the intervention was particularly challenging because the fire spread across steep and inaccessible terrain covered with dense vegetation.

Kavadarci Mayor Mitko Jancev said the fire started in five separate locations located between 500 and 700 metres apart, raising suspicions that it may have been deliberately started.

Despite the scale of the fire, authorities said that high-stem forests were not affected and that nearby settlements and residents’ property were protected.

Water crisis adds to pressure

At the same time, parts of North Macedonia are dealing with another challenge: water safety.

In Gostivar, tap water remains unsuitable for drinking and cooking after tests confirmed continued contamination of the local water supply system. The pollution in Gostivar was caused by contaminated surface water entering the city’s drinking water system.

Prosecutors said that pumps installed in a polluted canal near an overflow chamber were still operating, with hoses allowing water containing coliform bacteria to flow into the chamber supplying drinking water, triggering a health crisis and an investigation into suspected environmental crimes.

The investigation comes after an epidemic was declared in Gostivar due to a surge in stomach-related illnesses, with local health authorities reporting around 250-300 new cases per day.

Following a meeting of the Main Crisis Headquarters on August 4, authorities said water from the city’s network can only be used for technical purposes until further notice.

Drinking water is being supplied to residents through canisters, Interior Minister Panche Toskovski said.

He added that chlorine levels had reached the maximum legally permitted level acceptable under the current crisis conditions and that chlorine had been detected at consumption points monitored by authorities.

However, the latest analyses confirmed that the bacteria Pseudomonas aeruginosa is still present in Gostivar’s water supply network, meaning restrictions remain in place.

The contamination has created additional pressure during an already difficult summer period marked by extreme heat and increased demand for water. Authorities have been carrying out repeated analyses, while the Main Crisis Headquarters has kept restrictive measures in place until the water is declared safe.

For the Balkans, where summer temperatures regularly exceed 35°C and water resources are already under pressure, the events in North Macedonia are another reminder that climate risks are becoming a recurring reality affecting daily life, agriculture, energy security and public safety.


Serbia races to secure fuel supplies as historic Danube drought threatens imports and agriculture

Serbia races to secure fuel supplies as historic Danube drought threatens imports and agriculture
/ bne IntelliNewsFacebook
By Valentina Dimitrievska in Skopje August 5, 2026

Serbia is facing growing pressure on its energy and agricultural sectors as record-low water levels on the Danube disrupt fuel imports and deepen concerns over the impact of a prolonged drought.

Mining and Energy Minister Dubravka Đedović Handanović said on August 5 that Serbia expects fuel supplies to remain stable in August despite difficulties with imports caused by record-low Danube water levels.

After meeting with Kiril Tjurdenjev, head of NIS, the minister said the government’s priority is to ensure regular supplies for all fuel stations and oil companies, while NIS is expected to maximize production to meet record-high August demand estimated at around 200,000 tonnes of diesel.

According to Đedović Handanović, supplies will remain stable while NIS’s OFAC licence is valid until August 28, with state reserves available if needed.

She warned that fuel imports remain challenging due to low Danube levels, which have disrupted river transport, increased costs and reduced planned deliveries. Imports were already minimized in July and a similar situation is expected in August, with NIS using its operational reserves to compensate, according to the ministry’s statement.

NIS said refinery processing is currently averaging 11,000 tonnes per day, or around 330,000 tonnes in August, with plans to increase output to 13,000 tonnes per day.

The company also confirmed that kerosene reserves are sufficient for about one and a half months, while gasoline supplies remain stable. NIS expects diesel and gasoline sales in August to reach their highest level in five years.

Danube reaches historic lows

Serbia’s fuel supply problems have been intensified by the dramatic fall in the Danube’s water level, which has reached the lowest point since measurements began.

Around 39,000 tonnes of diesel imports are planned for August, similar to July levels, but nearly 20,000 tonnes were expected to arrive by river transport. With navigation increasingly difficult due to shallow waters, these deliveries have become uncertain, RTS reported, citing Đedović Handanović.

Companies have been forced to rely more heavily on rail and tanker transport, which can deliver smaller volumes at significantly higher costs.

Despite the challenges, the government says it will prevent sudden fuel price increases and has sufficient reserves available if emergency measures become necessary.

Around 19,000 tonnes of Euro diesel have already been released from companies’ operational reserves to help stabilize the market in July. Serbia has also extended a ban on exports of oil and oil derivatives, including Euro diesel, until the end of August to keep available supplies inside the country.

The minister warned that global market conditions are adding further pressure, including problems with stock market prices, Russia’s export restrictions on oil derivatives and increased diesel purchases by Turkey, which has tightened supply in the Mediterranean market.

Farmers struggle as irrigation systems dry up

The drought is also threatening Serbia’s agricultural production, particularly in areas dependent on river-based irrigation.

In the village of Begaljica near Belgrade, strawberry producer Jovica Živanović says farmers are facing a serious crisis because irrigation systems connected to the Danube can no longer provide enough water, RTS reported on August 5.

“I currently have two hectares under strawberries that I irrigate from this closed system. We have no other way to water. If we don’t irrigate for 10 days, everything will dry up and go to waste,” Živanović said.

He estimates he has invested around €30,000 in production and fears losing both his investment and next year’s harvest.

Begaljica alone has around 30 hectares of strawberry plantations, while about 200 hectares in the area depend on irrigation systems.

Climate change increasing drought risks

Serbia’s Hydrometeorological Service (RHMZ) warned that the country is increasingly experiencing longer dry periods combined with uneven rainfall distribution, according to the article.

Although annual precipitation totals are not always significantly below long-term averages, rainfall is increasingly concentrated into fewer days, while longer dry periods and high temperatures increase evaporation and worsen drought conditions.

According to the RHMZ, summer precipitation is expected to decline by around 20% by mid-century under climate change scenarios.

The most severe moisture shortages are currently affecting Vojvodina, Pomoravlje, eastern and southeastern Serbia, as well as parts of central Serbia.

During July, some areas including northern Bačka and Banat and parts of Belgrade received less than 10 millimetres of rainfall. In contrast, southeastern and southwestern regions recorded higher precipitation levels.

With the Danube at record-low levels and drought conditions continuing, Serbia is now relying on emergency energy measures and limited water resources to protect both fuel security and agricultural production.

US has burned through half Patriot, 80% of THAAD interceptors fighting Iran – CNN

US has burned through half Patriot, 80% of THAAD interceptors fighting Iran – CNN
Pentagon officials call munitions stockpiles 'dangerously low' just as Ukraine and Gulf allies both compete for the same dwindling supply. / bne IntelliNewsFacebook
By Ben Aris in Berlin August 5, 2026

The US military has used up 50% of its Patriot interceptors and nearly 80% of those for the THAAD missile defence system fighting Iran, with senior commanders warning the Pentagon's munitions stockpile is “dangerously low,” CNN reported on August 4, citing multiple sources familiar with the matter.

The US has burned through roughly half its Patriot interceptors and nearly four-fifths of its THAAD inventory since the Iran war began, according to two sources with access to the latest inventory report - a THAAD disclosure CNN said had not been previously reported. The Center for Strategic and International Studies (CSIS) estimated the US held around 2,200-2,330 of the platform's most-modernised Patriot variants and 452 THAAD interceptors before the war started.

CBS News, citing separate sources, reported that the US has also used virtually all of its Army Tactical Missile Systems (ATACMS) and Precision Strike Missiles during the conflict. A July CSIS report put pre-war Patriot stocks at 2,330, falling to between 759 and 827 by the end of July, and pre-war THAAD stocks at 452, down to between 234 and 278 as of July 27 - with a separate CSIS estimate suggesting it could take until at least mid-2029 to rebuild both to pre-war levels.

US Secretary of War Pete Hegseth rejected the CNN figures directly, writing on X: “That banner is NOT TRUE, CNN. Shame on you,” adding “we don't hate the Fake News media enough.” Chief Pentagon spokesperson Sean Parnell struck a similarly defiant tone in a statement to CBS: “America's military is the most powerful in the world and has everything it needs to execute at the time and place of the President's choosing.”

Gulf allies who rely on US-supplied air defence systems have separately raised concerns that the shortage could hamper their own ability to intercept Iranian retaliation if President Donald Trump escalates the conflict further - concerns officials said were raised again just before Trump's decision last weekend to cancel a fresh round of strikes on Iran.

The squeeze Ukraine warned was coming

IntelliNews flagged this trade-off back in March, when the widening US-Iran war first began consuming the same American air-defence supplies Ukraine depends on. By July, the dynamic had hardened into policy reality: as IntelliNews reported Washington's offer of a Patriot production licence to Ukraine was always going to be more useful for Ukraine's next war than its current one, precisely because the US stockpile is already depleted.

Without any more interceptors for its air defence, in recent weeks Ukrainian President Volodymyr Zelenskiy has start to look desperate as Ukraine is unable to defende itself from a heavy Russian winter campaign and in the week of August 3 it appears that Ukraine has run out of ammo completely after not one Russian ballistic missile fired on Ukraine that week was brought down.

The strain compounds a wider allied rearmament problem - Europe's own rearmament drive has been faltering just as Ukraine needs it most, and a running dispute over whether European-funded weapons ultimately stay in American hands has only added friction to how quickly replacement stock can actually reach Kyiv. Meanwhile Russia's own missile arsenal continues expanding faster than Ukraine's, widening the gap the shrinking US interceptor stockpile is meant to help close.

The numbers give hard substance to what has, on the ground in Kyiv, already been visible for weeks: interceptor shortages translating directly into missiles landing unopposed on Ukrainian cities, exactly the dynamic Ukraine's Air Force has been reporting overnight after overnight.

What is Falun Gong and why does the Chinese Communist Party want to suppress it?

(The Conversation) — An anthropologist who conducted fieldwork among Falun Gong practitioners explains the movement’s beliefs and why its followers continue to resist the Chinese government.

Falun Gong practitioners march in London, calling for an end to persecution by the Chinese Communist Party. (James Willoughby/SOPA Images/LightRocket via Getty Images)

(The Conversation) — I joined members of the Falun Gong spiritual movement at Chatter Park in Hong Kong on May 13, 2000, as they celebrated World Falun Dafa Day. The annual event commemorates the anniversary of the day the group claims its leader, Li Hongzhi, first made Falun Gong practices public.

Under the hot midday sun, surrounded by police and camera-clicking journalists, we performed the five main Falun Gong body exercises.

Falun Gong, which translates as “Practice of the Law Wheel,” is also known as Falun Dafa, which means “The Great Law of the Law Wheel.” It is a spiritual movement that combines bodily exercises with lessons to help practitioners endure hardship and act ethically in what its teachings consider a spiritually polluted world.

In my conversations with the Hong Kong group’s organizers, they explained that their choice of a well-known, centrally located park for the exercises – and their invitation to journalists to cover the event – was intended to signal to Hong Kong residents and the wider world that the movement remained active despite the ban on its practice in mainland China.

As an anthropologist of Chinese religion, I conducted field research among Falun Gong practitioners in the early 2000s. My research explored why the group continued to attract and retain followers worldwide in spite of Chinese government attempts to suppress and discredit it.

Falun Gong and the qigong boom

In 1992, Li, a charismatic teacher with no known prior background in religion or health, founded Falun Gong in China’s northeast province of Jilin. Li claimed to have developed abilities and insights that put him in tune with the “law” of the universe – a principle, he said, that, when followed, could enable all people to be healthy and virtuous.

Li’s claims came at a time of heightened interest in qigong, a practice of cultivating positive bodily energies with roots in Chinese medical and martial arts traditions. In the 1960s and 1970s, during a period of radical social reform known as the Cultural Revolution, the Chinese government dismissed nearly all aspects of China’s past culture as backward and feudal, and citizens were prohibited from learning about them.

In the 1980s and 1990s, however, during a period known as Reform and Opening Up, the government reversed course. At the same time, health care costs were increasing due to the loosening of the government’s social welfare net. Curious about practices that had been previously restricted and eager to seek lower-cost forms of health care, Chinese citizens grew interested in traditional methods to maintain and prolong good health.

Literally meaning the “cultivation of vital breath,” qigong practice was most popular among older adults. It features a set of special exercises to stimulate the healthy flow of qi, or breath, throughout the body.

Li’s movement built on this interest in qigong but also added a moral and religious dimension to it. He preached that the world had become polluted by greed, corruption and “bad habits.” According to Li, homosexuality, pornography and drug abuse caused people to deviate from the “law,” leading them to greater sickness and harming their spiritual development.

He also preached that following his teachings was the only way to cure health problems at their spiritual core: Doctors, particularly those who practiced Western medicine, could only treat the physical symptoms. Li taught that disease was rooted in the negative effects of moral and spiritual decline.

He preached that people could cure themselves of physical and spiritual sickness by regularly practicing Falun Gong exercises and rising above the interests of “ordinary people,” – that is, nonpractitioners. This required following the movement’s three universal principles of truthfulness, benevolence and forbearance.

Truthfulness means not only refraining from deceit but also exposing and defending the truth. Practitioners follow benevolence by striving to overcome self-centeredness and acting with compassion toward others in their daily lives. In following the principle of forbearance, Falun Gong practitioners must be willing to accept any injury without retaliation, which could mean anything from remaining calm in the face of unfair insult to actively resisting Chinese government suppression.

As in other forms of qigong, Falun Gong practitioners practice several set exercises, generally each morning. In order to integrate the physical and moral dimensions of Falun Gong practice, many practitioners also gather in the evenings and on weekends to recite Li’s writings, watch videos of his lectures and discuss their healing journeys.

Organization and leadership

By the mid-1990s, Falun Gong had grown larger and more popular than other qigong traditions. Political scientist James Tong estimated that, at its peak, followers numbered in the tens of millions.

While physically demanding, the exercises were easy to learn and repeat. Moreover, Li’s concerns about moral decline resonated with many urban Chinese: Buddhist groups that I later studied, while denouncing the Falun Gong organization, shared many similar concerns with what they saw as lowering moral standards and spiritual pollution created through modernization.

Additionally, despite its growing size, Falun Gong maintained a high degree of organizational cohesion: Local “contact people” received direct instruction from district and regional organizers, who in turn received direction from the top leadership.

Even in the 1990s, when most Chinese citizens lacked access to the internet, the top leadership was able to communicate quickly and effectively to its many members via phone lists to inform them of protest actions and other public demonstrations.

Facing a government crackdown

Protesters wearing white caps hold photographs of people during a demonstration.

Falun Gong members hold a protest in Seoul, South Korea, in 2024 against what they said was the Chinese government’s policy of harassment and torture of its members in China.
Kim Jae-Hwan/SOPA Images/LightRocket via Getty Images)

By the end of the 1990s, Falun Gong practitioners faced increasing critiques in state-run newspapers. In April 1999, the movement drew over 10,000 practitioners in a mass protest for official legitimacy in front of Chinese government headquarters. However, while the group’s intention was to pressure the government into providing it with broader leeway, the approach backfired.

Alarmed by the group’s willingness and ability to defy Chinese government authority by organizing such a large, unregistered public gathering, the government moved swiftly to crack down on the group.

By July of that year, the Chinese government had banned all Falun Gong practice. Additionally, the government engaged in a massive propaganda campaign against the group: It denounced Falun Gong exercises as physically harmful, accused the group of instructing its adherents not to seek medical help for dangerous health conditions, and insisted that Li was engineering a plot to disrupt social order and challenge government rule.

However, far from ending the group’s activities, the ban spurred many Falun Gong practitioners into further action: Soon after the government declared its ban, Li began to write essays that depicted the battle between Falun Gong adherents and the state as part of a cosmic struggle between defenders of the Great Law and their enemies. To practitioners, the Chinese Communist Party itself came to represent the kind of spiritual pollution against which they should be fighting.

Their protests are heavily influenced by the notion of forbearance. As I found in my interviews with Falun Gong practitioners in Hong Kong, Li’s followers see the ability to forbear hardship as central to their spiritual advancement. Enduring the suffering caused by their persecution from the Chinese government, in their view, presented a particularly strong opportunity for that advancement. Similarly, when Falun Gong practitioners protest against Chinese government propaganda, it reflects their belief that they must speak out and defend the Great Law.

Resisting the Chinese government

Today, nonviolent resistance is an integral part of Falun Gong practice. Falun Gong followers gather each day to practice and protest outside Chinese embassies and consulates worldwide.

Over time, Falun Gong followers have also established their own media outlet, The Epoch Times, and a performing arts company, Shen Yun, that tours cities around the world with the aim of depicting a “pure” Chinese culture free of influence from its modern Communist government.

Chinese dancers with eyes closed hold large flowers during a performance.

Members of Shen Yun, a Falun Gong dance and music company, rehearse at the Long Beach Performing Arts Center in Los Angeles in 2016.
Rick Loomis/Los Angeles Times

In mainland China, many Falun Gong followers have accepted a range of punishments for their continued membership in the group. These include threats of job loss for those who simply refuse to give up their practice, imprisonment and even torture for participating in public protests or the spread of Falun Gong materials online. Group members also allege that the Chinese government has harvested the organs of incarcerated Falun Gong practitioners for sale on the international market, a claim that the government contests.

To suppress the movement, the government has made use of advanced surveillance technology, some of it developed by U.S. companies. The technology is used to track down Falun Gong practitioners in China who have defied the ban against the movement, particularly to locate and interrogate those who have distributed Falun Gong content online.

Recently, several Falun Gong practitioners unsuccessfully sued the U.S.-based corporation Cisco Systems, alleging that it developed sophisticated surveillance technology that the Chinese government used to find China-based Falun Gong practitioners. The case made it all the way to the U.S. Supreme Court, which ruled against the practitioners, arguing that U.S. courts were not the right forum to try human rights violations that occur abroad.

What began as an exercise movement of primarily older adults in China’s northeast has proved to provide the largest, best-organized and most-sustained resistance to Chinese government rule since the founding of the People’s Republic of China.

(Gareth Fisher, Associate Professor of Religion, Syracuse University. The views expressed in this commentary do not necessarily reflect those of Religion News Service.)

The Conversation

The Conversation religion coverage receives support through the AP’s collaboration with The Conversation US, with funding from Lilly Endowment Inc. The Conversation is solely responsible for this content.