Despite initial predictions that Western sanctions on Russian energy would keep oil prices high, the market has seen a steady decline due to a significant redirection of Russian oil exports from Europe to countries like China, India, Turkey, and African nations. This shift, facilitated by a new, non-Western financial system developed by the BRICS countries, allowed Russia to maintain export volumes and revenues due to its low production costs. Similarly, Iran, also under heavy sanctions, has significantly increased oil production and revenues, demonstrating the ineffectiveness of sanctions in constraining these nations' oil trade. The overall decrease in global oil prices is beneficial for most economies, particularly those in the BRICS bloc, and is further driven down by a reduction in demand from China due to the widespread adoption of electric vehicles.

The provided text analyzes a significant shift in global military procurement, arguing that the recent aerial engagement between Pakistan and India, where Pakistani forces, utilizing Chinese-built equipment, decisively defeated Indian forces flying French planes, serves as a powerful demonstration of China's burgeoning defense capabilities. This engagement highlights that Chinese-made military hardware is not only combat-proven and effective but also significantly more cost-efficient than Western alternatives. Furthermore, the source emphasizes China's unparalleled access to critical rare earth metals and advanced manufacturing capabilities, allowing them to produce advanced weaponry rapidly and consistently, a stark contrast to Western defense contractors often reliant on Chinese supply chains. Consequently, the article posits that countries like Iran are now actively seeking to purchase advanced Chinese military aircraft, such as the J10s equipped with PL15 missiles, to modernize their forces quickly and affordably, potentially altering the balance of power in regions like the Persian Gulf and ushering in a new global arms race.

Since anti-government protests erupted in Iran last year, people around the world have taken to social media to show their support. That includes an Iranian American ballerina Tara Ghassemieh, who is tapping into her heritage and her art to express solidarity with those pushing for more rights. Julia Griffin reports.