Executive Summary: Terrorist groups in Pakistan frequently use high-denomination currency to finance their operations. Permitting a large number of high-value notes to be in circulation makes it easy for bad actors to transfer considerable amounts of money without a digital footprint, making illicit activities easier... MORE

Executive Summary: Islamist groups, including al-Qaeda in the Indian Subcontinent (AQIS), Islamic State in Khorasan Province (ISKP), and Islamic State in Hind Province (ISHP), attempted to destabilize India during the legislative elections from April to June with threats, anti-Hindu/anti-democratic propaganda, and terrorist attacks. Most of... MORE

Executive Summary: Iran is supplying the Sudan Armed Forces (SAF) of General Abd al-Fatah al-Burhan with drones and other weaponry in its struggle against the rebel Rapid Support Forces (RSF) led by General Hamdan Daglo “Hemedti.” This has given rise to concerns that Tehran desires... MORE

Executive Summary: Smuggling, a critical tool of the Chinese Communist Party (CCP) to acquire technology to enhance its defense industrial base, is reemerging in the wake of the US Government’s technology controls. Diversion—falsifying the end-user—is another common tactic that the Party has successfully used to... MORE

Executive Summary: The Kremlin announced that it will more than double the budget for the All-Russian Cossack Society in 2025 at the beginning of November, indicating plans to expand their roles in Russian society, including activities in occupied Ukrainian territories. Cossacks are being integrated into... MORE

Executive Summary: A joint meeting of the Foreign Ministry Collegiums of Russia and Belarus occurred on November 22, emphasizing deepening Belarus-Russia cooperation under the Union State framework, with new agreements on joint security and coordinated foreign policy. Russia extended its nuclear doctrine to cover Belarus,... MORE

Executive Summary: Russia faces a severe economic crisis, with inflation rates significantly exceeding official figures. Efforts to combat inflation through high interest rates have slowed economic growth and investment, leading to risks of an economic downturn. The Kremlin is prioritizing war funding at the expense... MORE

Executive Summary: Russia has expanded its ties with groups such as Hezbollah, Hamas, and the Houthis, leveraging its relationship with Iran’s so-called “Axis of Resistance” to increase geopolitical influence through military and security cooperation, including supplying weapons and conducting diplomatic engagements. Moscow is not pursuing... MORE

(Part One) Executive Summary: The Kremlin formally approved a new nuclear doctrine on November 19, following the West’s authorization for Ukraine to utilize its deep strike capabilities on Russian territory. The revised document is directed at Western powers and aims to address the potential escalation... MORE

Executive Summary: As Russia’s war in Ukraine passes the 1,000-day mark, Russian President Vladimir Putin’s strategy has turned to escalatory steps aimed at undermining Ukraine’s will to resist and weakening Western resolve to confront Russian aggression. The change in Russia’s nuclear doctrine, deployment of North... MORE