India says its purchases of Russian oil have helped stabilize global prices by preventing shortages. The country is the third largest oil importer and buys more than a third of its oil from Russia.
Russian dictator Vladimir Putin does not accept Donald Trump's ultimatum to end the war, as his entourage is interested in continuing the aggression. At the same time, the Center for Countering Disinformation believes that the dictator was again "deceived" by people from his own entourage, who told him about "Ukraine falling in 2-3 months."
Donald Trump said the US is close to a trade deal with China. He will meet with Xi Jinping by the end of the year if a deal is reached.
The European Union is preparing to impose sanctions against China due to its support for Russia in the war against Ukraine. This decision is related to the supply of Chinese drone engines to Russia through shell companies.
On August 5, Hong Kong recorded over 350 mm of precipitation, which is the largest daily amount in August since 1884. This led to the closure of schools, courts, clinics, and the cancellation of 20% of flights in the region.
Two barges caught fire at a fireworks festival in Yokohama, causing chaos. Five workers were rescued, one sustained minor injuries.
Rosneft's Ryazan oil refinery halted about half of its capacities due to UAV attacks. This led to an increase in gasoline prices on the Russian wholesale market, with AI-95 reaching a new historical record.
From January to July 2025, Gazprom exported 9. 93 billion cubic meters of gas to Europe, which is the lowest figure since the early 1970s. This happened after the loss of transit through Ukraine, which led to an almost twofold decrease in supply volumes.
Lithuanian President Gitanas Nausėda accepted the resignation of Gintautas Paluckas's government. Finance Minister Šadžius has been appointed as interim prime minister.
Oil prices fell after OPEC+'s decision to increase production by 547,000 barrels per day in September. However, fears of disruptions to Russian oil supplies to India due to possible US sanctions limited losses.
China stated that it would not change its energy policy under external pressure, responding to US calls to stop purchasing oil from Russia and Iran. The Chinese Ministry of Foreign Affairs emphasized that it would ensure energy supply in accordance with national interests.
The naval forces of Russia and China have begun joint exercises in the Sea of Japan, practicing anti-submarine and anti-aircraft tasks. The maneuvers will last until August 5, including artillery firing and search and rescue operations.
Stephen Miller, advisor to the President of the United States of America, accused India of funding Russia's war against Ukraine through oil purchases. He noted that India is effectively linked with China in purchasing Russian oil.
In eastern Australia, cities found themselves under the thickest layer of snow in decades, leading to floods, stranded vehicles, and power outages for thousands of homes. The cold front brought up to 40 cm of snow, causing over 1455 incidents.
US Presidential Envoy Stephen Witkoff announced the development of a plan to end the war in the Gaza Strip and rebuild the enclave. This plan is being developed jointly with the Israeli government, but Hamas is not ready to lay down arms without the creation of an independent Palestinian state.
UN Secretary-General António Guterres presented a report indicating that the organization's documents are hardly read. Last year, the UN held 27,000 meetings and prepared 1,100 reports, many of which are not widely popular.
Cambodia plans to nominate Donald Trump for the Nobel Peace Prize. This is due to his role in ending the conflict between Thailand and Cambodia, which led to a ceasefire.
Kia America is recalling over 200,000 Telluride vehicles in the US. The reason is a possible detachment of the door handle trim.
The US Federal Court of Appeals reinstated part of the lawsuit against Elon Musk's X platform. The accusations concern the untimely response to a child pornography video that garnered over 167,000 views.
The US and European NATO countries are creating a new mechanism for supplying military aid to Ukraine using funds from European members of the Alliance. Ukraine will form lists of needs for $500 million, and NATO allies will decide who will pay for or donate items from the list.
Average daily supplies of Russian gas to Europe increased by 37% in July. This happened due to recovery after maintenance work and the use of "TurkStream" as the only transit route.
Germany will provide Ukraine with two Patriot air defense systems. The US will replace these systems for Germany with new ones.
Ukraine is carrying out the largest construction of defensive fortifications since the beginning of the full-scale war, allocating over 46 billion hryvnias. These fortifications, which include anti-tank ditches and barbed wire, are designed to deter a possible Russian summer offensive in the east.
Indian state-owned oil refining companies have suspended the purchase of Russian oil due to reduced discounts and warnings from the US president. The companies have turned to the spot market, preferring Middle Eastern and African grades.
The US Senate Appropriations Committee approved the 2026 defense spending bill, which provides for the allocation of approximately $1 billion to support Ukraine. This funding is included despite its absence from the Donald Trump administration's budget request.
The US administration will send official notifications by midnight to all countries without a current trade agreement or prior letters regarding tariffs. This concerns trade terms, a White House spokeswoman said.
The US expects the war in Ukraine to end by August 8. This information was confirmed by the leading US diplomat at the UN Security Council.
Ukraine will face a significant increase in its funding deficit next year due to intense Russian attacks and failure to meet foreign creditors' reform demands. The country needs between $39 billion and $58 billion in external financing for next year alone.
Global gold demand, including over-the-counter trading, increased by 3% year-on-year to 1248. 8 tonnes in the second quarter of 2025. Gold investments increased by 78%, and spot prices reached a record $3500 per troy ounce.
Oil prices stabilized as investors assessed the risk of supply shortages amid Trump's push for a resolution to the war in Ukraine. An unexpected increase in US oil inventories is putting pressure on prices.
