Moscow celebrates Victory Day. Russia’s premier holiday occurs annually on May 9, when the former USSR’s victory over Nazi Germany is marked with a military parade on Red Square. Kremlin prestige is measured by the foreign leaders who join Vladimir Putin on the tribune, while the public participates with local events honoring their victorious ancestors. This year, 29 Russia-friendly world leaders are attending, including Chinese leader Xi Jinping, whose presence underscores a growing alliance between the two nations. The message is that Russia remains strong and not isolated despite three years of sanctions. The one dark cloud is the threat, however remote, of a Ukrainian drone attack on the event. – Staff
U.S. and Britain strike trade deal. The agreement will scrap 25% tariffs on British steel and aluminum and lower tariffs on 100,000 cars from 27.5% to 10% each year. The first since President Donald Trump’s “Liberation Day” tariffs, the deal sets an example for other nations wanting to negotiate with the U.S. While the nations’ leaders hailed the deal as historic, others have questioned how much has changed. Most goods from the UK continue to face a 10% duty. – Staff
India-Pakistan conflict escalates with drone attack. India’s military claims a Pakistani drone and missile attack struck the city of Jammu in Indian Kashmir late on Thursday. The assault came on the second day of clashes between the two countries, their worst confrontation in over two decades. India said it hit nine “terrorist infrastructure” sites in Pakistan on Wednesday in retaliation for what it says was an Islamabad-backed attack in Indian Kashmir on April 22. World powers from the United States to China have called for calm in the nuclear flash point region. – Reuters
Ukraine finalizes minerals deal. Ukraine’s parliament voted on Thursday to ratify a minerals deal with the U.S., an agreement Kyiv hopes will secure future military assistance from Washington in its fight to repel Russian troops. The deal, signed last month, hands the U.S. preferential access to new Ukrainian minerals deals and sets up the investment fund, which could be used for the reconstruction of Ukraine for the first 10 years. Ukrainian President Volodymyr Zelenskyy hopes the deal will bolster Ukraine’s position in ceasefire talks. – Reuters
Related Monitor coverage: Chinese restrictions on exports of rare earth minerals – which have critical military and commercial uses – are spurring calls for increased U.S. production.
Bill Gates plans to donate almost all his wealth. Mr. Gates pledged on Thursday to give away $200 billion via his charitable foundation by 2045 and lashed out against huge cuts to U.S. foreign aid. The billionaire co-founder of Microsoft said he was speeding up his plans to divest almost all of his fortune and would close the foundation Dec. 31, 2045, earlier than planned. Mr. Gates said he hoped the money would help eradicate diseases like malaria, end preventable deaths among women and children, and reduce global poverty. – Reuters
Related Monitor coverage: The Trump administration froze foreign aid in February, leaving one of global health care’s great success stories – the campaign to contain AIDS – fighting to survive.