ZeroFox Physical Security Intelligence Daily Brief - July 16, 2024

ZeroFox Physical Security Intelligence Daily Brief - July 16, 2024

ZeroFox physical security experts collect, curate, and analyze information derived from open and proprietary sources for comprehensive context of the circumstances surrounding global events. Here is today’s daily roundup of major developments.

Brief Highlights

• India Considering Ways to Boost Exports to Russia
• Georgian President Challenges Foreign Agent Law in Court
• Russian Central Bank to Halt Publication of Foreign Exchange Information

India Considering Ways to Boost Exports to Russia

The Indian government said it was exploring new ways to increase exports to Russia after Prime Minister Narendra Modi's visit to Moscow last week. India is reportedly encouraging rupee-rouble trade and lobbying Russia to lift non-tariff trade barriers. Trade between the two countries has increased significantly since Russia began its full-scale invasion of Ukraine in 2022. However, this boom has been mostly one way, with Russian exports to India accounting for USD 61.43 billion of the USD 65.7 billion in trade between the two countries.

Georgian President Challenges Foreign Agent Law in Court

Georgian President Salome Zurabishvili filed a lawsuit with the Constitutional Court against the recently introduced "foreign agent" law. Zurabishvili's suit argues the law violates Article 78 of the Georgian constitution, according to which all Georgian officials must advance Georgia's accession into the European Union (EU). Zurabishvili will argue that the foreign agent law harmed Georgia's chances of joining the EU, after the EU announced last week it was halting Georgia's accession process as a result of the legislation. Other opposition politicians and many non-governmental organizations are also reportedly planning to introduce similar suits in the near future.

Bank of Russia to Halt Publication of Foreign Exchange Information

Bank of Russia announced it will halt publishing information on the over-the-counter foreign exchange market. Under the new policy, the Bank of Russia will no longer publish daily reports on trading volumes in the dollar, euro, or yuan against the ruble. This announcement comes after the United States introduced sanctions on the Moscow Exchange in June, which forced the exchange to immediately halt trading in dollars and euros.