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China court sentences Canadian Michael Spavor to 11 years in prison for spying

A court in Dandong, China, has announced it sentenced Canadian businessman Michael Spavor to 11 years in prison after finding him guilty of espionage.

Why it matters: U.S. and Canadian experts have viewed the 2018 arrest and later charges of Spavor, along with and former diplomat Michael Kovrig as "direct retaliation" by the Chinese government for Canada's detention of Huawei executive Meng Wanzhou, who's accused of violating U.S. sanctions on Iran.

  • The sentencing suggests that a Beijing court is set to find Kovrig guilty in his spying case.
  • It's also likely to increase already strained tensions between the governments of China and Canada.

Editor's note: This a breaking news story. Please check back for updates.

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The oil industry faces dual threats of uncertainty from the pandemic and 2020 election

The oil industry is facing an immense amount of uncertainty, even for a sector that bobs along in the currents of global markets and geopolitics despite its enormous power.

The big picture: As Democrats hold their convention this week, seeking a boost for Joe Biden heading into the heart of the 2020 campaign, the election is unfolding against another huge source of uncertainty for the industry: the coronavirus pandemic.

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Biden signs executive order ending new contracts with private prisons

President Joe Biden on Wednesday signed executive orders on housing and ending the federal government's use of private prisons as part of what the White House is calling his “racial equity agenda.”

The big picture: Biden needs the support of Congress to push through police reform or new voting rights legislation. The executive orders serve as his down payment to immediately address systemic racism while he focuses on the pandemic.

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Putin signs law that would let him stay in power until 2036

Vladimir Putin has signed a law that would let him seek additional presidential terms in 2024 and 2030, Reuters reports.

Why it matters: Putin was running up against term limits until proposed constitutional changes were approved via referendum last year. Now he could potentially remain in power until 2036, when he'll be 83.

Go deeper:20 Years of Putin — from KGB to Kremlin.

U.S. sends delegation to Haiti after president's assassination

A U.S. delegation traveled to Haiti on Sunday to meet with the country's acting prime minister and national police force amid unrest following the assassination of President Jovenel Moïse on July 7, the White House announced Monday.

Why it matters: The visit came after Haitian authorities requested troops from the U.S. to help stabilize the country and protect its critical infrastructure. The Pentagon has not yet made a decision, but spokesperson John Kirby said Sunday the U.S. is "analyzing" the request.

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