O projeto “Almoço Mineiro Subterrâneo”, que propõe uma experiência gastronómica na Mina de Sal-Gema de Loulé, venceu a categoria “Turismo & Recursos Geológicos” do concurso INOVA ALGARVE + DIVERSIFICAR, promovido pelo NERA. A iniciativa, apresentada pela Tech Salt, S.A., foi distinguida a 20 de outubro, em Loulé, com um prémio monetário de 2.500 euros.
Desenvolvido em parceria com a Associação das Terras e das Gentes da Dieta Mediterrânea, o projeto combina uma visita guiada ao património geológico e mineiro com uma refeição inspirada na Dieta Mediterrânica, a cerca de 230 metros de profundidade.
A experiência pretende recriar os momentos de convívio dos antigos mineiros, aliando a gastronomia à valorização da história, das tradições e dos recursos locais. A proposta procura, assim, diversificar a oferta turística algarvia através de uma experiência que cruza património industrial, geologia e cultura gastronómica.
A distinção foi anunciada durante uma conferência dedicada à fileira dos recursos geológicos, realizada nas instalações do NERA, em Loulé. O encontro reuniu representantes de entidades regionais, académicas e empresariais para debater o contexto económico do setor e as oportunidades de inovação.
O primeiro painel contou com a participação de representantes da Região de Turismo do Algarve, da Universidade do Algarve e da Assimagra – Associação Portuguesa da Indústria dos Recursos Minerais. O programa incluiu ainda uma apresentação do designer Miguel Soeiro sobre a inovação na ligação da pedra natural a outros materiais.
O segundo painel, centrado nas boas práticas de inovação empresarial, reuniu representantes do Geoparque Algarvensis, da TECH SALT, da Geowalks and Talks, da Pedramoca e da EDM – Empresa de Desenvolvimento Mineiro, proporcionando a partilha de experiências e abordagens inovadoras no setor.
O ciclo de conferências INOVA ALGARVE + DIVERSIFICAR prossegue a 5 de novembro, com uma sessão dedicada à fileira dos citrinos. Ao longo do mês, estão ainda previstas conferências centradas na Economia do Mar e nas Plantas e Flores.
A iniciativa é organizada pelo NERA, em parceria com a Algarve Evolution, a Associação KIPT, a CCDR Algarve, a Região de Turismo do Algarve, a Tertúlia Algarvia e a Universidade do Algarve, no âmbito do projeto INOVA ALGARVE 3.0, cofinanciado pelo programa regional Algarve 2030, integrado no Portugal 2030.
Amid stiff competition from Silicon Valley-based, AI-focused defense companies, Northrop Grumman, part of the US defense market’s ‘Big Five,’ has posted better-than-expected sales and a record order backlog of US$ 109.6 billion.
Notably, at nearly $110 billion, the company’s order backlog is nearly 1.4 times its US$78 billion market cap and equals about two and a half years of sales.
Northrop Grumman’s record backlog suggests that traditional prime contractors in the US defense-industrial complex continue to win substantial new orders even as their leadership faces increasing pressure from AI-focused defense firms such as Palantir and Anduril.
For instance, Anduril, founded in 2017, is already worth US$ 90 billion, more than Northrop Grumman’s and General Dynamics’ market caps.
Meanwhile, Palantir, founded in 2003, is already worth nearly US$480 billion, more than any of the Big Five.
Northrop Grumman’s steady sales and record US$109.6 billion backlog should reassure investors that traditional defense primes can continue to thrive alongside the rapid growth of AI-focused defense companies.
The Virginia-based defense contractor reported third-quarter revenue of US$11.12 billion, up 7% from US$10.42 billion a year earlier.
Net income rose to US$1.12 billion from US$1.10 billion a year earlier.
However, the biggest surprise came in the company’s backlog order book. The company received US$16.4 billion in net contract awards during the third quarter (Q3) of 2026, pushing its net outstanding backlog to US$109.6 billion.
A year ago, at the end of Q3 2025, the company’s backlog stood at US$91.4 billion. Since then, it has received new contracts worth US$18.2 billion.
“In a complex world with the growing need for solutions that scale and perform, our customers continue to turn to Northrop Grumman,” Chair, Chief Executive and President Kathy Warden said in the earnings announcement.
According to company filings, the company’s third-quarter contracts totaled US$16.4 billion, which included US$4.6 billion for classified programs, US$2 billion for the Sentinel intercontinental ballistic missile program, and US$1.4 billion for Virginia-class submarines.
The company also received US$1.3 billion in awards related to the F-35 fighter jet and US$1 billion for the E-2 Hawkeye airborne early warning aircraft.
The Q3 contracts show strong demand for the company’s products in fighter jets, AWACS, missiles, submarines, and space programs.
Overall, Defense Systems accounted for the largest portion of the company’s backlog at US$36.5 billion, followed by Aeronautics Systems at US$26.8 billion and Space Systems at US$26.3 billion.
Strong Demand for Northrop Grumman’s Aeronautics Systems
In Q3, Northrop Grumman reported aeronautics systems revenue of US$3.58 billion, up 14% year-on-year, and won new contracts worth over US$3 billion.
Strong aeronautics systems performance is driven by demand for the F-35 fighter jet, progress on the B-21 Raider program, maintenance work on the B-2 Spirit bomber, and work on Army helicopters such as the AH-64 Apache, CH-47 Chinook, UH-60 Black Hawk, and others.
Northrop Grumman is a principal contractor on the F-35 Lightning II program, with Lockheed Martin as the prime contractor. The company contributes roughly 25% of the aircraft and produces or supports several major structural and mission systems for all three variants – F-35A, F-35B, and F-35C.
Northrop Grumman designs and produces critical F-35 components, including the center fuselage, AN/APG-81 AESA radar, communications subsystems such as the AN/ASQ-242 Integrated Communications, Navigation, and Identification (CNI) system, and the EO/IR Distributed Aperture System.
It also leads mission systems development, pilot and maintenance training courseware, and low-observable technology support to ensure readiness and modernization across all three F-35 variants.
A F-35 picture highlighting parts manufactured by Northrop Grumman. Credit: Northrop Grumman.
The company also received new contracts worth US$1.3 billion for F-35 fighter jets.
It also won contracts worth US$1 billion for the E-2 Hawkeye airborne early warning aircraft.
Northrop Grumman is the prime contractor, Original Equipment Manufacturer (OEM), and sole designer, developer, and manufacturer of the E-2 Hawkeye family, including the current E-2D Advanced Hawkeye.
Northrop Grumman is also the prime contractor for both the B-2 Spirit and the B-21 Raider.
In 2024, Northrop won a US$7 billion award for the B-2 Spirit modernization and sustainment program, including programmed depot maintenance of the fleet, sustaining engineering, software maintenance, support equipment, logistics elements, and interim contractor support.
This B-2 Spirit modernization and sustainment work continues at Palmdale, California; Whiteman Air Force Base (AFB), Missouri; Tinker AFB, Oklahoma; Wright-Patterson AFB, Ohio; Edwards AFB, California; and Hill AFB, Utah, and is expected to be completed by May 2029.
In 2015, Northrop Grumman won the Long Range Strike Bomber (LRS-B) program, also known as the B-21 Raider.
However, the US Air Force has deliberately withheld detailed pricing for the program.
Earlier this year, the USAF and Northrop agreed to expand B-21 Raider production capacity by about 25% with roughly US$4.5 billion in government funding.
B-21 RAIDER
A 2021 Pentagon Cost Assessment and Program Evaluation (CAPE) study estimated that developing, procuring, and operating a fleet of 100 B-21 Raider aircraft could cost about US$203 billion over the next 30 years.
In September, Northrop Grumman also won a US$4.84 billion Army contract for CIRCM (Common Infrared Countermeasure) laser-based missile defense systems to protect Army helicopters, such as the AH-64 Apache, CH-47 Chinook, UH-60 Black Hawk, and others, from infrared-guided missiles. The program will run through 2035.
Another critical program is Northrop’s role in the Sentinel missile program, a key part of the US Nuclear triad.
In the third quarter, the company won a US$2 billion contract for the Sentinel intercontinental ballistic missile program.
Northrop Grumman is the prime contractor for the LGM-35A Sentinel program, also known as the Ground Based Strategic Deterrent (GBSD).
Under the program, Northrop will design and produce a new three-stage solid-propellant ICBM with improved range, accuracy, reliability, and modularity compared with Minuteman III.
It will also construct hundreds of new or heavily modernized hardened launch silos and related facilities across multiple states, and new nuclear command-and-control networks. Sentinel will provide the US with on-alert nuclear deterrence through 2075.
Northrop Grumman is also a major supplier and Original Equipment Manufacturer (OEM) for key components on Virginia-class submarines. It won a US$1.4 billion contract in Q3 for the Virginia-class submarines.
Northrop also plays an important role in the Patriot missile defense system. It supplies the solid rocket motors, ignition safety devices, and related propulsion elements for PAC-3 MSE missiles.
Patriot interceptors are in global demand due to the two ongoing wars in Ukraine and the Middle East.
In August, the Department of War (DoW) signed framework agreements worth US$3 billion for expanding Patriot interceptor missile production.
The contract allocates nearly US$2 billion for solid rocket motors and ignition safety devices, in which Northrop will play a key role.
Northrop is also the prime contractor for the Integrated Battle Command System (IBCS), which integrates Patriot with other air- and missile-defense assets.
The company is also executing many of the USAF’s classified space-segment programs.
Many of these contracts, such as the B-21 Raider, F-35, Sentinel, and Patriot PAC-3 MSE interceptors, will run for decades, providing Northrop with a steady source of income. However, execution risk remains.
Demand for many of the company’s products, such as aircraft, missiles, and space systems, remains strong; however, investors’ key question is whether Northrop can turn its record US$109.6 billion backlog order book into improved margins and earnings.
Sumit Ahlawat has over a decade of experience in news media. He has worked with Press Trust of India, Times Now, Zee News, Economic Times, and Microsoft News. He holds a Master’s Degree in International Media and Modern History from The University of Sheffield, UK.
He can be reached at ahlawat.sumit85 (at) gmail.com
Russia launched 21 ballistic missiles against Kyiv in three successive waves overnight on 21–22 October, striking residential buildings, energy facilities and transport infrastructure just hours after President Vladimir Putin held peace negotiations with US presidential envoy Steve Witkoff in St Petersburg.
Ukrainian President Volodymyr Zelenskyy confirmed on Thursday morning that at least two people had been killed and 34 injured, including five children, in Russian attacks affecting 12 Ukrainian regions. The capital sustained extensive damage, with strikes reported against railway and metro infrastructure, shopping centres, industrial premises and a monastery.
The bombardment followed a three-hour meeting between Witkoff and Putin on Wednesday, during which the Russian president indicated his willingness to resume trilateral negotiations involving Moscow, Washington and Kyiv. The Russian attacks continued despite the diplomatic initiative, prompting Zelenskyy to call for renewed international pressure on the Kremlin.
Kyiv Under Three Waves of Ballistic Missiles
In a statement published on Telegram, Zelenskyy said Russian forces had launched three waves of ballistic missiles against the Ukrainian capital, causing numerous direct hits and widespread destruction.
The Ukrainian president referred sarcastically to Russia’s supposed humanitarian intentions, an apparent reference to Witkoff’s description of Putin as a humanitarian during their meeting the previous day.
Emergency services were deployed across several districts of Kyiv, where residential and commercial buildings suffered damage. Part of the capital’s metro infrastructure on the Southern Bridge was affected, disrupting traffic, while a strike on an ambulance station in the Pecherskyi district damaged six emergency vehicles. No medical personnel were injured at that location.
According to Ukrainian military and emergency service reports, the overnight assault also involved 210 attack drones and several types of missiles, including Iskander-M, S-400, Zircon and Oniks weapons.
By Thursday morning, Ukrainian air defences had intercepted or suppressed 181 drones. Russian weapons struck 32 locations, while debris from intercepted drones fell at eight others.
The assault followed several consecutive days of Russian attacks against Kyiv, including earlier strikes on hospitals, residential buildings and the capital’s transport network.
Witkoff’s Meeting with Putin
The timing of the latest bombardment placed renewed scrutiny on Washington’s diplomatic engagement with Moscow.
On 21 October, Witkoff met Putin at the Konstantin Palace in St Petersburg, accompanied by Russian officials, including Kirill Dmitriev, the Kremlin’s representative for international economic cooperation. The discussions lasted approximately three hours.
Following the St Petersburg meeting, Witkoff described the discussions as constructive and indicated that negotiations would continue at the technical level between representatives of the United States, Russia and Ukraine.
Putin reportedly expressed agreement in principle to restarting trilateral negotiations, potentially during the first half of November. However, no agreement on a ceasefire or suspension of Russian attacks was announced.
The meeting also attracted controversy after Witkoff praised Putin as a humanitarian following the release of Stephen Hubbard, a 74-year-old American citizen who had been detained in Russia for more than four years.
The remarks prompted criticism from Republican lawmakers in Washington, who questioned the characterisation of the Russian president while Moscow continued its military campaign against Ukraine.
Zelenskyy Calls for Pressure Rather Than Diplomatic Concessions
Zelenskyy characterised the overnight missile attack as evidence that Russia’s participation in negotiations had not produced any substantive change in its conduct.
He argued that diplomatic efforts to end the war should continue but must be accompanied by measures capable of altering Moscow’s military calculations.
Those measures, according to the Ukrainian president, include stronger air defence capabilities, faster deliveries of interceptor missiles, the ability to destroy Russian ballistic missile launchers and continued economic sanctions.
The latest attacks also place Ukraine’s air defence requirements firmly within the ongoing negotiations with Washington. Kyiv has repeatedly sought additional Patriot missiles and more reliable advance warning of Russian ballistic launches, particularly as repeated strikes place increasing demands on its interception capabilities.
For the Trump administration, the immediate question is whether Russia’s stated willingness to negotiate can produce verifiable commitments to reduce hostilities.
The Kremlin has offered the prospect of further talks without announcing a halt to its offensive operations. Kyiv, meanwhile, continues to face missile and drone attacks against civilian infrastructure even as discussions concerning a possible settlement proceed.
The events of 21–22 October leave Washington’s diplomatic initiative moving forward against the background of an expanding Russian aerial campaign, with no indication that Moscow intends to suspend its attacks while negotiations continue.
A CCDR Algarve, em parceria com o Município de Loulé, promove no dia 13 de novembro a conferência «Resíduos: Um Futuro Urgente», no Auditório Teresa Gamito da Universidade do Algarve, Campus de Gambelas.
A iniciativa reúne representantes da administração pública, dos municípios, das universidades, de entidades gestoras e de empresas e especialistas do setor com o objetivo de refletir sobre os desafios da gestão de resíduos e identificar abordagens e estratégias que contribuam para a sustentabilidade ambiental e para a promoção da economia circular.
O programa organiza-se em torno de dois eixos temáticos. O primeiro, dedicado aos resíduos urbanos, destaca a apresentação de boas práticas nacionais e os desafios específicos no Algarve. O segundo, centrado nos resíduos não urbanos, aborda experiências inovadoras no domínio da economia circular, da valorização de resíduos e da promoção de práticas sustentáveis.
A participação é gratuita, mediante inscrição prévia aqui.
O programa completo pode ser consultado na imagem abaixo.
Olhão recebeu, a 19 e 20 de outubro, o 3.º Encontro Transfronteiriço do projeto INNOVASOCIAL AAA, que juntou entidades portuguesas e espanholas para promover a cooperação, a partilha de experiências e a inovação no setor da economia social.
A iniciativa foi promovida pela Tertúlia Algarvia e pela Associação In Loco, com a colaboração do Município de Olhão, no âmbito de um projeto europeu que pretende reforçar a economia social e contribuir para a inclusão, a igualdade de oportunidades e o desenvolvimento sustentável nos territórios do Alentejo, Algarve e Andaluzia.
O projeto é cofinanciado pela União Europeia, através do Programa Interreg VI-A Espanha–Portugal (POCTEP) 2021-2027.
European Union negotiators have reached a provisional agreement to revise the rules governing the bloc’s carbon market, increasing the number of emissions allowances that can remain in reserve before being permanently cancelled.
The agreement, reached by the Council and European Parliament on 20th October and announced the following day, raises the invalidation threshold of the EU Emissions Trading System’s market stability reserve from 400 million to 700 million allowances.
The compromise reached by EU negotiators follows months of pressure from energy-intensive industries concerned about carbon prices, electricity costs and competition from manufacturers operating under less restrictive environmental regimes.
The measure requires formal approval before entering into force and forms part of a wider review of the EU’s principal carbon-pricing mechanism.
A larger reserve for future market disruptions
Established in 2019, the market stability reserve was designed to address the accumulation of surplus emissions allowances that had weakened the effectiveness of Europe’s carbon market.
Under the Emissions Trading System, companies in covered sectors must surrender allowances corresponding to their greenhouse gas emissions. The total quantity available is progressively reduced, creating a financial incentive to cut emissions.
The reserve adjusts the supply of allowances entering the market, withdrawing them when there is a substantial surplus and releasing them under specified conditions when supply becomes scarce.
Existing rules also provide for the permanent cancellation of allowances held above a threshold of 400 million.
Under the new agreement, that threshold would increase to 700 million, allowing a larger stock to remain available for potential future release.
The change does not automatically introduce 300 million additional allowances into circulation. Releases would continue to depend on the reserve’s operating rules and market conditions.
According to the Council, more than three billion allowances have been invalidated since the mechanism began operating in 2023.
The Commission initially proposed ending automatic invalidation indefinitely, while the Council’s September negotiating position envisaged a temporary suspension followed by a higher threshold.
The compromise retains invalidation but increases the amount protected from cancellation.
Industry competitiveness enters climate negotiations
The agreement follows growing concern about the cumulative cost of European climate regulation, particularly for steelmaking, chemicals, cement and other energy-intensive sectors. Manufacturers have warned that carbon costs, combined with relatively expensive electricity and industrial gas, complicate investment decisions and weaken their ability to compete internationally.
The latest reserve agreement does not directly change the allocation of free allowances, the emissions cap or the obligations imposed on individual industrial installations. Its principal effect would be to preserve a larger buffer that could become available if future market conditions trigger the release mechanism.
For manufacturers planning investments extending into the 2030s, the availability of allowances and the future trajectory of carbon prices influence production costs and the commercial case for decarbonisation technologies.
Carbon market figures reveal changing conditions
The European Commission reported in May that the total number of allowances in circulation during 2025 stood at approximately 1.023 billion.
These withdrawals reflect the existing mechanism for reducing market surpluses. The proposed higher invalidation threshold concerns how many allowances can subsequently remain in reserve rather than being cancelled.
The overall emissions cap will continue to decline under the legislation already governing the ETS.
Consequently, preserving a larger reserve does not remove the long-term constraint on emissions or guarantee lower carbon prices for European industry.
The agreement also concerns the established ETS covering power generation, industry and certain other sectors, rather than the separate ETS2 regime for emissions associated with road transport and buildings.
The Council and Parliament have agreed that the question of gradually reducing the invalidation threshold should be considered during the broader ETS review.
That exercise will address the carbon market’s operation over a longer period, when the declining supply of allowances could create tighter conditions.
The present agreement therefore provides an adjustment to the reserve mechanism without reopening the entire emissions trading framework. Following legal and technical finalisation, the provisional deal must be endorsed by both institutions and formally adopted.
The new 700 million threshold would apply after the legislation takes effect, while the larger review of the ETS continues through the EU legislative process.
The European Union has reached a provisional agreement on reforms to its securitisation framework, potentially allowing banks to release more capital for lending to businesses, households and infrastructure projects.
The agreement, announced on Wednesday, 21st October, follows negotiations between the Council and European Parliament over changes to prudential requirements and the regulation governing securitised financial products.
The reform package agreed by EU negotiators would reduce capital requirements for lower-risk transactions, introduce a new category of resilient securitisations and simplify administrative procedures for financial institutions and investors.
It forms part of the EU’s Savings and Investments Union initiative, which aims to channel more private capital into the European economy.
Banks offered greater flexibility
Securitisation allows banks and other lenders to combine financial assets, including mortgages, consumer credit and corporate loans, into securities that can be purchased by investors.
By transferring some of the financial risks associated with these assets, banks can reduce the amount of regulatory capital they are required to maintain against particular exposures.
This can increase their capacity to extend new loans, although it does not guarantee that additional lending will follow.
The provisional agreement would recalibrate capital requirements according to the risk of individual transactions.
Lower-risk securitisations would receive more favourable treatment, while higher capital requirements would continue to apply to riskier structures.
A new category of resilient securitisations would be introduced alongside the existing framework for simple, transparent and standardised transactions, commonly known as STS securitisations.
The agreement would also strengthen supervision of independent organisations responsible for verifying compliance with the STS criteria.
The Council said that third-party verifiers would become subject to EU-level supervision, with the aim of improving consistency across national markets.
European financial markets remain fragmented
The reforms address a long-standing concern that European banks face higher administrative and capital costs for securitisation than competitors operating under other regulatory systems.
Following the financial crisis of 2008, European authorities introduced tighter rules governing structured financial products, including restrictions intended to improve transparency and ensure that lenders retained appropriate exposure to credit risks.
The resulting framework, which began applying in 2019, strengthened investor protection but also increased compliance costs.
The European Commission proposed the latest review in June 2025, arguing that the existing arrangements had constrained the development of securitisation as a financing tool.
According to the Association for Financial Markets in Europe, approximately €252.3 billion in securitised products was issued across Europe in 2025, with €156.3 billion placed with investors.
Those figures cover the wider European market, including activity outside the EU.
Brussels regards the development of deeper financial markets as necessary to finance infrastructure, technological investment and industrial development.
As EU Today previously reported, the EU’s largest economies have also been examining proposals to strengthen supervision and reduce fragmentation across European capital markets.
Will banks lend more to businesses?
The potential benefits of securitisation are not automatic.
Research published by economists on the European Central Bank’s website in September 2026 found that banks using synthetic securitisation increased corporate lending only modestly, while also distributing more capital to shareholders.
Synthetic securitisation allows banks to transfer credit risk to investors without necessarily removing the underlying loans from their balance sheets.
The researchers found that a one per cent increase in synthetic securitisation issuance was associated with an increase of approximately 0.02 per cent in corporate loan growth.
Their findings also indicated that banks participating in the synthetic securitisation market made greater use of capital released through these transactions to increase dividend payments.
The study suggests that easing capital requirements alone may not generate the substantial expansion in business lending envisaged by European policymakers.
Credit demand, economic conditions and banks’ commercial decisions will also influence whether the reforms produce measurable increases in investment financing.
Broader investment rules to change
The provisional agreement includes additional measures intended to encourage participation by institutional investors.
Investment limits for certain regulated funds, known as UCITS, would be increased, while targeted changes would allow insurers and reinsurers greater participation in specified synthetic securitisation transactions.
The package also seeks to facilitate securitisation arrangements used to finance infrastructure projects before they become operational.
Together, these provisions could widen the investor base and make financing structures available to a broader range of businesses and projects.
However, transferring credit exposure between banks and investors does not eliminate the underlying risk.
If borrowers default or the financial institutions providing protection encounter difficulties, losses may still emerge within the wider financial system.
European regulators will therefore have to assess whether the new classification and supervisory arrangements adequately reflect the risks of different securitisation products.
The political agreement now requires legal finalisation and formal approval by the Council and European Parliament.
The new arrangements would then form part of the EU’s wider programme to strengthen financial markets and reduce barriers to investment across the single market.
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Last March, the US justice system reopened a case regarding the alleged responsibility of former Cuban President Raúl Castro in the shooting down of small planes belonging to the organization Brothers to the Rescue in 1996.
Cuba has categorically rejected the US accusations. The Caribbean nation argues that the accusation is a distortion of the truth, given that Brothers to the Rescue is considered an organization linked to acts of terrorism and provocation against the country’s government.
According to Havana, the aircraft were conducting illegal flights over Cuban airspace. They were reportedly asked repeatedly to refrain from entering Cuban airspace, but these requests were ignored, according to the Cuban justice system. Furthermore, according to the Cuban Foreign Ministry, Havana asked Washington on 25 occasions to prevent these illegal flights. Subsequently, with no response from Washington or Brothers to the Rescue, Cuba proceeded to fire upon the aircraft flying over its territory.
However, the US justice system denies Cuba’s version of events and has sought a conviction for these acts. That is how, on October 19, Florida Attorney General James Uthmeier succeeded in having his state issue an arrest warrant for Raúl Castro, then Cuba’s Minister of Defense.
“Raúl Castro ordered the cold-blooded murder of four Florida residents, and the state will never stop pursuing accountability for that communist conspiracy,” Uthmeier said regarding the arrest warrant.
But the Cuban government maintains that Brothers to the Rescue had a different mission than the one it claimed. Cuban Deputy Gerardo Hernández stated: “Although [Brothers to the Rescue] was founded to spot and report the location of rafters to the US Coast Guard in the 1990s, its role shifted toward provocations following the change in immigration policies agreed upon between Washington and Havana in 1995, with the intention of hindering any diplomatic rapprochement and normalization of relations between the two countries.”
For his part, Cuban President Miguel Díaz-Canel condemned the Florida court’s decision: “The reprehensible action taken against the Army General this morning in a pathetic Miami circus, with an electoral agenda, has no legal basis whatsoever – nor will it ever have one – much less a practical one… In the face of every affront, [Raúl Castro] will always find the determination of a people to defend the Revolution.”
He added: “That maneuver, cloaked in legal pretense and orchestrated by anti-Cuban politicians against Raúl and against Cuba, deserves our firm condemnation. It is part of their aggressive agenda and a response to their failures in attempting to justify the Embargo and the collective punishment against our people.”
For its part, the Mexican government characterized the arrest warrant issued against one of the historic leaders of the 1959 Cuban Revolution as an “electoral maneuver.” This was explained by President Claudia Sheinbaum, who linked the judicial decision to the upcoming midterm elections: “The arrest warrant against Army General Raúl Castro, attributed to the Florida prosecutor’s office, seeks to win the support of segments of the US electorate.”
Russia also condemned the arrest warrant against Raúl Castro, calling it “baseless and false,” and linked it to a powerful political group in Florida: “[It is] revenge by the anti-Cuban lobby in Miami,” said the Russian Ministry of Foreign Affairs.
The decision is part of a series of measures by the Trump administration against the revolutionary government in Havana, which the US president himself has said he would like to see fall and has on some occasions suggested he might launch a military attack on Cuba.
Trump has imposed economic and trade sanctions that add to the historic economic and trade embargo the United States has imposed on the island for more than 60 years – an embargo that has caused losses amounting to tens of billions of dollars for a country with a population of just 10 million.
Added to this is the recent oil embargo imposed by the United States on the Caribbean island. As a result, throughout 2026, only one oil tanker entered Cuba, which has brought much of the country’s production, transportation, and electricity generation to a standstill. This has led to an increase in mortality rates and reduced access to basic services for the civilian population.
European prosecutors have searched offices in Brussels and Strasbourg as an investigation into alleged misuse of parliamentary funds by the former Identity and Democracy group raises questions over financial liabilities inherited by Patriots for Europe.
European prosecutors carried out searches at the European Parliament’s offices in Brussels and Strasbourg on Wednesday, 21 October, as part of an investigation into alleged financial irregularities involving the former Identity and Democracy (ID) parliamentary group.
The investigation concerns approximately €4.33 million in European Union funds that were allegedly improperly spent during the 2019–2024 parliamentary term. The European Public Prosecutor’s Office (EPPO) confirmed that searches had taken place in connection with an ongoing inquiry into the use of EU funds by a former parliamentary group.
The premises searched are now occupied by Patriots for Europe, the European Parliament’s third-largest political group, which includes France’s National Rally, Hungary’s Fidesz, Italy’s Lega and Spain’s Vox. Patriots for Europe insists that it has no legal continuity with Identity and Democracy and denies being involved in the investigation.
Investigation into parliamentary expenditure
The European Public Prosecutor’s Office opened its investigation in July 2025 following concerns identified by the European Parliament’s financial administration about expenditure incurred by Identity and Democracy.
The former group, which dissolved following the 2024 European elections, included representatives of France’s National Rally, Italy’s Lega and Germany’s Alternative for Germany.
According to details of the parliamentary financial examination subsequently reported in France, investigators are examining approximately €3.6 million in contracts awarded to external service providers, including businesses with political connections to parties represented within the former group.
The financial examination also identified more than €700,000 in donations to organisations whose activities were allegedly unrelated to the parliamentary group’s official functions.
The authorities are examining whether parliamentary resources were used in accordance with EU financial rules, including restrictions on using public money for national party-political activities.
These are allegations under investigation, not criminal findings. The EPPO has not announced convictions arising from the current inquiry, and the individuals and organisations concerned retain the presumption of innocence.
Earlier investigative measures were conducted in France, Belgium, Spain and Italy in June 2026. Wednesday’s searches mark a further stage in the proceedings.
Can Patriots for Europe inherit the liabilities?
The investigation has opened a separate dispute over whether Patriots for Europe could be required to repay money allegedly misspent by its predecessor.
Identity and Democracy ceased to exist after the 2024 elections. Several parties previously represented in the group subsequently joined Patriots for Europe, a new parliamentary formation that also brought together Viktor Orbán’s Fidesz and Spain’s Vox.
Patriots for Europe maintains that the two groups are legally separate. Its representatives argue that the dissolution of Identity and Democracy ended that group’s institutional existence and that the present parliamentary organisation is not responsible for its predecessor’s financial affairs.
However, the European Parliament’s budgetary authorities have examined whether responsibility for outstanding liabilities can pass to a successor group.
An opinion approved by the Parliament’s Budgetary Control Committee in September considered the circumstances in which continuity between parliamentary groups might establish financial responsibility.
Such an assessment may consider whether members, administrative personnel, operational resources and other assets were transferred from one organisation to another.
The outcome could determine whether the current group is exposed to potential repayment demands, irrespective of whether its present members were personally involved in the expenditure under investigation.
No final determination of such liability has been established through Wednesday’s searches.
Political consequences in Strasbourg
The searches come at a time when Patriots for Europe has become a major political force within the European Parliament.
Its member parties have challenged EU policy on immigration, economic regulation and the distribution of powers between Brussels and national governments. National Rally and Fidesz are also influential actors in the domestic politics of France and Hungary respectively.
An investigation involving their parliamentary organisation is therefore likely to attract scrutiny beyond the immediate financial questions.
Nevertheless, the political influence of the group and the criminal investigation must be considered separately. The presence of prosecutors at parliamentary premises does not establish wrongdoing by the current group’s MEPs.
The case also raises broader questions about financial accountability within the Parliament, particularly when a political group dissolves following an election and its members establish a new organisation.
Unlike national political parties, European parliamentary groups receive funding specifically to support their legislative, administrative and political work inside the institution.
Those resources are subject to financial controls intended to prevent their diversion into activities that should be funded by national parties or other organisations.
Further proceedings
The EPPO is responsible for investigating and prosecuting offences affecting the European Union’s financial interests. It operates independently of national governments and EU political institutions.
The European Parliament has confirmed its cooperation with the authorities but has declined to comment on the substance of the continuing investigation.
Prosecutors must now assess the evidence obtained during the searches alongside financial records and material collected during previous investigative measures.
Any decision to bring criminal proceedings would depend on the evidence available and the relevant national and European legal requirements.
Separately, the Parliament will have to establish whether any recoverable funds are owed by the former group and, if so, which organisation is legally responsible for repayment.
For Patriots for Europe, the immediate issue is not only the progress of the criminal inquiry but whether the financial arrangements of a dissolved parliamentary group can create obligations for its successor.
During a high-level visit to Tehran earlier this week, Russian Foreign Minister Sergey Lavrov expressed his country’s official position demanding a restoration of the pre-war situation in the Persian Gulf region and guarantees that there will be no return to war against Iran in the future.
Lavrov also claimed that his country was ready to assist in “searching for mutually acceptable solutions to resolve” the “artificial” crisis created by “unprovoked US-Israeli aggression” against Iran.
Later on Wednesday, Russian President Vladimir Putin repeated the offer of mediation during the visit of Steve Witkoff, the White House’s special envoy to the Middle East, to Moscow.
Lavrov, who visited Iran on Monday, October 18, also reiterated the Russian position that Iran’s responses to US aggression was justified and legitimate and claimed his country has provided whatever political and economic assistance it could to help it face the repercussions of the unlawful US-Israeli war.
Lavrov’s statement could be seen as a rebuttal to US President Donald Trump, who appreciated Russia’s supposed neutral role in Iran during the eight-month-long war.
Trump claimed it was a “positive” development that Russia did nothing to help and was even “laying off Iran” as the US is hitting Iranians economically and militarily.
Trump was forced to withdraw some of its sanctions on Russian energy exports, imposed from 2024, in his bid to secure an energy deal earlier this month.
Trump’s move is largely seen as an attempt to lower the impact of the rising gas prices on the prospects of Republican candidates before the upcoming midterm elections.
Lavrov, however, cited the Russian veto in the UN against the US attempts to justify its military aggression against Iran, providing humanitarian aid including medicine, other medical supplies and food during the war also claiming that such aid is continued to be “delivered regularly.”
Iranian President Masoud Pezeshkian also appreciated the Russian help during the war and expressed his country’s desire to further deepen cooperation between the two countries.
Iran and Russia signed and implemented a 20-year Comprehensive Strategic Partnership Treaty last year. The treaty has provisions of close coordination on issues related to economy, geo-politics, and security.
Lavrov pointed out the growing bilateral trade between the two countries in the last two years, despite the war and sanctions they are both facing. According to him, in the first eight months of the present year, the bilateral trade between Russia and Iran grew 10% in comparison to the same period last year.
Lavrov also informed that Russian scientists who were withdrawn from Iran’s Bushehr nuclear power plant during the war have started returning gradually.
Russia and Iran are closer than ever
Iranian Foreign Minister Abbas Araghchi claimed that bilateral relations and cooperation between Russia and Iran has never been as good as it was today.
While addressing a joint press conference with Lavrov in Tehran on Monday, Araghchi reiterated that both the countries maintain close cooperation and consultation on all regional issues, including Iranian relations with the US.
He claimed that the two countries agree that the instability and disruption in the Persian Gulf and the Strait of Hormuz is a result of unprovoked US-Israeli aggression and that they share the vision of a diplomatic solution to all outstanding conflicts.
Talking about their mutual understanding about regional issues, such as Lebanon and Palestine, Araghchi claimed that both Russia and Iran agree the “genocide of the Palestinian people and the Israeli regime’s dangerous expansionism in the region must stop.”
Lavrov alleged that some countries are trying to push the Palestinian issue to the background, which should not be allowed. He stated that both Iran and Russia would push for the implementation of all relevant UN resolutions because it is “crucial to intensify efforts to resolve the Palestinian issue.”
Lavrov also demanded an end to all Israeli hostilities in Lebanon and peace in Yemen, demanding the full implementation of all relevant UN resolutions and previous understandings.
Lavrov rejected US threats of secondary sanctions over its relationship with Iran, claiming “despite the challenging situation … Russia has no intention to abandon the implementation of economic and investment agreements with Iran.”
As a part of its ongoing war, the Trump administration had announced the complete economic isolation of Iran in August, threatening secondary sanctions against all the countries who still maintained economic relations with it.
Only a handful of countries, such as the UAE, have announced compliance with the US attempts to economically isolate Iran so far.
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