The main thing in the morning: May 8

• Biden is in favor of ending the conflict in Gaza. The Axios portal, citing anonymous American officials, reports that the Biden administration is considering suspending arms supplies to Israel in the event of a major military operation in Rafah.

• Euroclear has a new head, but it also opposes the confiscation of Russian assets. Valerie Urbain stated that she opposes the G7 initiative. Confiscation, in her opinion, could undermine confidence in the European Union, as well as lead to problems for the depository itself in the form of lawsuits and potential losses.

• Simplified registration in the SAR will be extended. The Ministry of Economy proposes to extend the deadline for simplified registration of companies in special administrative regions (SAR) until the end of 2025.

• The share of alternative energy sources is increasing. Thanks to the growth of solar and wind energy, the share of renewable energy sources reached a record 30% of total global electricity production in 2023.

• The IMF warns of violations in connection with the possible use of Russian assets to help Kiev. Gita Gopinath, First Deputy Managing Director of the International Monetary Fund, reminded States of the need to comply with legal norms and ensure sufficient legal justification for all their actions.

• Russian oil exports by sea have updated the maximum of 2023. Exports of raw materials are growing – by 25 thousand b/d above the average for last year. But oil refining is under pressure due to planned and emergency repairs of refineries. Oil supplies to Turkey have increased especially noticeably.