Oil prices held steady after rising as the US considers selling confiscated Venezuelan oil, and attacks on Russian vessels and terminals heighten fears of supply disruptions. Brent futures fell to $62.01, and WTI to $57.92.
Economists say Russia's position is weaker than ever, as the Kremlin has spent most of its cash reserves and borrowed funds. Tough new sanctions against Russia's oil sector could lead to an economic crisis next year.
Panama's Foreign Minister said that a tanker intercepted by the US off Venezuela did not comply with the country's maritime rules and had its transponder switched off. Panama will take appropriate action against the vessel, which sailed under its flag.
The US has suspended the lease of five major offshore wind farms along the US East Coast. The reason cited was classified risks identified by the Pentagon related to radar interference.
Mercedes-Benz has reached a $149. 6 million settlement in the US over the use of illegal software that concealed the true level of pollution from diesel engines. Almost 40,000 cars in the US were equipped with devices that understated emissions during inspections.
The price of Russian Urals oil has fallen to $34 per barrel, while Brent remains at $61. This drop may indicate the impact of US sanctions and negatively affect the Kremlin's revenues.
Russian natural gas exports to China via pipeline are expected to grow by a quarter this year, reaching 38. 6-38.7 billion cubic meters. However, this will not compensate for the drop in revenues from the loss of the European gas market.
Vice Prime Minister Oleksiy Kuleba is lobbying for the appointment of Ihor Zelinsky to the post of head of the State Aviation Service, despite his involvement in decisions that could have harmed Ukrainian aviation and effectively played into the hands of the Russian Federation. Zelinsky's appointment could become a strategic mistake for the state and obviously carries risks for national security in wartime.
Gold and silver prices soared to all-time highs, surpassing previous records. This surge is driven by escalating geopolitical tensions and expectations of interest rate cuts in the US.
China's exports of permanent magnets to the EU rose by 59. 5% year-on-year in November, reaching 2,568.8 tonnes, after Beijing began issuing general licenses for their supply. At the same time, exports to the US decreased by 8.84%, while total global exports increased by 28.29%.
The Miami talks between the US, Ukraine, and Russia on ending the war were productive but without clear breakthroughs. The gap between the parties remains huge, and Zelenskyy calls for increased pressure on Moscow.
By the end of the year, Ukraine is preparing a number of sanction decisions against Russian entities and those who assist in the aggression, including individuals from China. It is also planned to synchronize sanctions with partners, in particular regarding the 20th package of EU sanctions and a new package from Canada.
The European Union has extended economic sanctions against Russia for another six months, until July 31, 2026. These measures, introduced in 2014 and expanded since February 2022, cover trade, finance, energy, and other sectors.
Alexander Stubb stated that Russia occupied less than 1% of Ukraine's territory in a thousand days of full-scale war. He noted that the Russian economy is in a bad state due to sanctions, which are a strong blow to the aggressor country.
The Italian antitrust authority has fined Apple 98 million euros for antitrust violations over its app tracking transparency policy. This policy violates European antitrust rules by abusing Apple's dominant position in the app store market.
The Swedish Customs Service released the Russian cargo ship Adler, which is under EU and US sanctions. The prosecutor did not initiate an investigation into a sanctions violation, and the vessel was allowed to continue its journey.
Shipments of liquefied natural gas from Russia to China more than doubled compared to last year, reaching 1. 6 million metric tons in November. This allowed Russia to overtake Australia and become the largest supplier after Qatar, offering the cheapest LNG among 12 suppliers.
Oil prices rose after the US tightened its naval blockade of Venezuela and Ukrainian drones attacked a Russian tanker. Brent rose to $61, WTI to $57.
Silver prices surged to a record $67. 55 per ounce, marking its largest annual gain since 1979. Gold neared its peak, hovering around $4363, driven by geopolitical chaos and expectations of Fed rate cuts.
ASEAN foreign ministers are meeting in Malaysia to stop the fighting between Thailand and Cambodia, which has claimed 40 lives and displaced more than 500,000 people. Malaysia and the Donald Trump administration are trying to restore the July truce using US satellite monitoring.
The Russian "shadow fleet" tanker, which was attacked by drones on December 18, is slowly sinking. New photos that have appeared online show the vessel partially submerged.
Senator Graham suggested that Donald Trump forcibly seize vessels of Russia's "shadow fleet" if Moscow refuses peace talks on Ukraine. He also proposed imposing "crippling" tariffs on countries that finance the Russian war machine.
Iraq has signed a multi-billion dollar deal with Turkey, exchanging crude oil for the construction of dams and land reclamation systems. This is intended to provide the country with water due to the critical shallowing of the Tigris and Euphrates rivers.
President Zelenskyy stated that the allocation of a 90 billion euro interest-free loan to Ukraine for two years is a real financial security guarantee. The funds will be disbursed at 45 billion euros annually for two years and will be repaid from Russian assets.
The United States has detained the Panamanian-flagged tanker Bella 1 near Venezuela. This happened amid an intensified oil blockade of the Nicolás Maduro regime. The vessel was en route to Venezuela for loading.
Swedish customs officers detained the Russian cargo ship Adler, whose owner exports weapons to Russia. The vessel anchored on December 20 due to an engine malfunction, and on December 21, an inspection of the cargo began. M Leasing LLC, the company that owns Adler, is under US and EU sanctions for transporting North Korean ammunition to the Russian Federation.
Over the week, Russia launched about 1,300 attack drones, almost 1,200 guided aerial bombs, and nine missiles of various types at Ukraine, with the Odesa region being particularly affected. Ukraine is countering this Russian terror by receiving financial and security assistance from international partners.
US Secretary of Defense Pete Hegseth commented on the seizure of an oil tanker off the coast of Venezuela. The US will continue maritime interdictions as part of Operation "Southern Spear" to eliminate illegal criminal networks.
The Russian economy is facing growing difficulties, including inflation and declining revenues, but this will not bring Putin to the negotiating table. Experts believe that the Kremlin can sustain the current pace of hostilities for many more years, as the Russian economy is not a critical factor for ending the war.
The goal of Ukraine's attacks on Russia's "shadow fleet" tankers is to increase the risks and costs of transportation, as well as to pressure Russia's partners. Ukraine will pursue a "decisive policy" regarding attacks on tankers heading to Russian ports for oil.
