In a chilling echo of history, reminiscent of Ronald Reagan‘s ‘Evil Empire’ speech in 1983, global attention is once again turning to Russia’s burgeoning alliance with North Korea.
The New York Times reports that North Korea’s enigmatic leader, Kim Jong-un, is set to embark on a journey to meet Russian President Vladimir V. Putin.
According to the Times, these two unconventional allies are exploring the possibility of supplying Russia with additional weaponry for its ongoing conflict in Ukraine.
A High-Stakes Expedition
Kim, known for his reclusive nature, is expected to leave Pyongyang, North Korea’s capital, possibly aboard an armored train, destined for Vladivostok on Russia’s Pacific Coast.
While there’s speculation about a potential detour to Moscow, nothing is certain. The mutual interests of Putin and Kim have led to their collaboration; Putin is keen on acquiring artillery shells and anti-tank missiles, while Kim is interested in obtaining high-tech satellite systems and nuclear submarines. Additionally, the NY Times reports that Kim is looking for food assistance to alleviate the poverty faced by his country’s citizens.
White House Warnings And Diplomatic Maneuvers
The White House released a cautionary statement last Wednesday, revealing that based on declassified intelligence, Putin and Kim have been in correspondence about a possible arms agreement. U.S. officials revealed that high-level talks on military cooperation between the two nations are “actively advancing,” according to NYT. However, specifics about their personal rapport remain undisclosed, considering they are considered adversaries of the United States.
A Historic Visit and Growing Concerns
The recent trip to North Korea by Sergei K. Shoigu, Russia’s Defense Minister, was notable as it was the first such visit from a Russian defense official since the Soviet Union fell apart in 1991. This visit underscores the seriousness of the arms negotiations, with Kim expecting discussions to possibly extend into high-level diplomatic engagement within Russia.
A Resurfacing Alliance
The NY Times reports that Kim’s message to Putin on Russia’s national day expressed his commitment to strengthening the Russia-North Korea alliance, aligning their strategic interests in the face of their shared adversary, the United States. This unexpected partnership is gaining attention and raising questions about its potential global impact.
ETFs On Defense Stocks
Exchange-traded funds investing in US-based defense companies include Invesco Aerospace & Defense ETF PPA, SPDR S&P Aerospace & Defense ETF XAR and iShares U.S. Aerospace & Defense ETF ITA.
| ETF Name | Asset Under Management ($ bn) | Expense Ratio | Top Holdings |
|---|---|---|---|
| Invesco Aerospace & Defense ETF | 2.01 | 0.58% | Boeing Co. BA 7%, Lockheed Martin Corp. LMT 6.2% |
| SPDR S&P Aerospace & Defense ETF | 1.57 | 0.35% | Curtiss-Wright Corp. CW 5% |
| iShares U.S. Aerospace & Defense ETF | 5.57 | 0.39% | Boeing Co. 18% |
Read now: Kim Jong Un Enjoys Extravagant Banquet Amid Gaudy Lighting And Nuclear Missile Display
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
