ZeroFox Physical Security Intelligence Daily Brief - July 23, 2024

ZeroFox Physical Security Intelligence Daily Brief - July 23, 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

• Ukraine Reaches Deal to Restructure Debt
• Houthis Vow Significant Retaliation Against Israeli Following Yemeni Port Attack
• EU and Armenia to Begin Discussions on Visa Liberalization

Ukraine Reaches Deal to Restructure Debt

On July 22, Ukraine reached an agreement in principle with bond holders to restructure its foreign-owned debt, thereby avoiding a potential default. Bondholders agreed to forgo USD 8.67 billion in claims on the USD 23.4 billion loans, accepting nominal losses of 37 percent. Under the agreement, Ukraine will save about USD 11.4 billion over the next three years.

Houthis Vow Significant Retaliation Against Israeli Following Yemeni Port Attack

Houthi Movement forces have promised large-scale retaliation after Israeli fighter jets struck Yemen’s Hodeidah Port on July 20 sparking a major fire and killing at least 6 people. The Israeli attack, the first of its kind on Yemen, was in response to a Houthi-launched drone that killed one person in Tel Aviv on July 21, 2024. The Houthis will likely increase drone and missile strikes towards Israel. However, the effectiveness of these attacks has been limited throughout the war in the Gaza Strip due to the crudeness of the projectiles and Israel’s air defense systems, meaning it remains unlikely that the conflict will significantly escalate in the region.

EU and Armenia to Begin Discussions on Visa Liberalization

On July 22, the European Union announced it will open talks on visa liberalization with Armenia. Visa liberalization would allow Armenian citizens to make short trips - up to 90 days - to the European Union without requiring a visa. In a statement, the European Council said a visa-free regime would only begin if Armenia met several benchmarks. Discussions on visa-free travel typically take years to complete; however, beginning the process marks another Western overture to Armenia as the country has distanced itself from longtime ally Russia.