Crimea Fuel Squeeze: Ukraine’s drone campaign is forcing Russia-installed authorities to halt civilian fuel sales across occupied Crimea, with rolling power limits and emergency restrictions after strikes hit energy and transport arteries. Black Sea Shipping Risk: Russian drones hit foreign-flagged cargo vessels, including the Turkish-owned Panama-flagged bulker Victress, killing an Egyptian crew member and damaging other ships under Belize and Palau flags. Moscow Drone Pressure: Russian air defenses reported dozens of drone interceptions toward the capital, with airports briefly restricting flights as Ukraine steps up long-range pressure. Ukraine’s “TrophyLab” Tech Sharing: Kyiv launched an access-controlled platform to catalog captured Russian hardware and share technical studies with vetted allies and researchers. Energy Trade Ripples: Saudi Arabia remained a top buyer of Russian seaborne fuel oil and VGO in May, but shipments fell as drone strikes disrupted output. Defense Industry Move: Germany plans to take a 40% stake in KNDS, aiming to scale European tank production alongside France. Sanctions/Markets Watch: US-Iran talks and Hormuz uncertainty continue to steer global oil shipping and India’s crude buying mix, with refiners stocking ahead of potential disruptions.