Tom Sowanick, a three-decade veteran of the investment business, returned from a trip to Greece this week with a "very sobering view" of its debt crisis: he now expects the country to default on its obligations and leave the euro zone.

• June 17, 2015

President Vladimir Putin said on Tuesday Russia would add more than 40 new intercontinental ballistic missiles (ICBM) to its nuclear arsenal this year, prompting NATO's chief to accuse Moscow of dangerous "saber-rattling".

• June 16, 2015

China will soon complete some of its land reclamation on the Spratly islands in the disputed South China Sea, the Foreign Ministry said on Tuesday, indicating that Beijing is close to setting up new outposts in the maritime heart of Southeast Asia.

• June 16, 2015

Imports of energy and life-saving medicines top the list of products in jeopardy if Greece defaults on its debt and moves closer to exiting the euro zone.

• June 16, 2015

A plan by Washington to station tanks and heavy weapons in NATO states on Russia's border would be the most aggressive U.S. act since the Cold War, and Moscow would retaliate by beefing up its own forces, a Russian defense official said on Monday.

• June 15, 2015

German politicians from across the political spectrum backed Chancellor Angela Merkel's firm line in aid talks with Athens on Monday despite the growing risk of a Greek default that could push it out of the euro zone.

• June 15, 2015

China will pledge a multi-billion dollar investment in Europe's new infrastructure fund at a summit on June 29 in Brussels, according to a draft communique seen by Reuters - Beijing's latest round of chequebook diplomacy to win greater influence.

• June 15, 2015

A Snapshot of Key Developments in the External Relations of the Russian Gas Sector
By Dr Jack Sharples, EGF Associate Researcher on the external dimensions of Russian gas and Lecturer in Energy Politics at the European University of St Petersburg

• Gazprom and the EU: PGNiG files a lawsuit in Stockholm arbitration court, seeks renegotiation of gas price formula; British energy company, Centrica, increases gas imports from Gazprom and Statoil
• Turkish Stream: Gazprom claims that Turkish Stream offshore construction will begin in first half of June 2015, and first gas supplies will be delivered by end of 2016; Greek government expresses support for all aspects of ‘Turkish Stream’ – except for the name, of course
• Ukraine: A curious mixture of threats and promises in the Gazprom-Naftogaz relationship:
  o Gazprom continues to provide gas to Naftogaz under pre-payment conditions, in line with extension of the ‘Winter Package’;
  o Naftogaz increases imports of Russian gas, benefits from continuation of discount and oil-indexed prices;
  o Gazprom agrees not to implement financial penalties for Naftogaz’s failure to meet its take-or-pay commitments during the winter package;
  o Naftogaz submits its Statement of Claim in its gas transit arbitration case against Gazprom – seeks $10bn in addition to its $6bn claim relating to ‘overpayment’ for gas supplies;
  o Gazprom CEO claims that company is seeking $29bn in its arbitration case with Naftogaz;
  o The Antimonopoly Committee of Ukraine launches its own investigation into Gazprom
  o Naftogaz begins stockpiling gas for the winter, but Gazprom express concerns that it is not storing enough to ensure a winter of risk-free gas transit
• Belarus: Gazprom Transgaz Belarus promotes development of natural gas powered vehicles at Belarusian Industrial Forum, supported by the Belarusian President
• China: Russian President ratifies Intergovernmental Agreement with China on gas supplies via the eastern route, as Gazprom and CNPC sign Heads of Agreement of gas supplies via the western (Altai) route

• June 15, 2015