Indian Prime Minister Narendra Modi called on the country to buy local goods in response to US threats to impose tariffs. The Modi administration has not instructed Indian refineries to stop buying Russian oil, considering it a commercial decision.
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.
President of Ukraine Volodymyr Zelenskyy announced the application of sanctions against 94 captains and five companies of Russia's "shadow fleet. " These individuals and organizations transported Russian oil circumventing the price cap.
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.
Today, August 3, the military personnel of the Air Force of the Armed Forces of Ukraine celebrate their professional holiday. Since the beginning of the full-scale invasion, 363 enemy aircraft and 326 helicopters have been destroyed.
New Zealand is introducing a fee of up to 40 New Zealand dollars for foreign tourists to visit popular sites. This is expected to generate 62 million New Zealand dollars annually, which will be invested in these facilities.
Tropical storm "Wipha" caused large-scale floods and landslides in Thailand, killing at least six people and affecting over 230,000. Since July 21, heavy rains have flooded 12 provinces, mainly in the north and center of the country.
Indian officials have stated their intention to continue purchasing Russian oil, despite threats of sanctions from US President Donald Trump. India and Russia have a stable and time-tested partnership.
Chinese authorities have accused US intelligence agencies of cyber espionage against Chinese military companies. The attacks allegedly exploited Microsoft Exchange vulnerabilities to access secret information.
From August 1, the US maintains a 10% universal tariff but introduces a 15% minimum tariff for countries with a trade deficit. Trump fragmented negotiations, successfully reaching agreements with Europe while continuing pressure on China.
Oil prices barely changed as fears of tariffs' impact on demand balanced the threat of supply disruption from Russia. Brent and WTI futures rose slightly, but are expected to increase by 4.9% and 6.4% respectively by the end of the week.
Tariffs imposed by US President Donald Trump cost Apple $800 million in the June quarter. The company's projected costs for the September quarter are $1.1 billion.
French swimmer Leon Marchand became world champion for the third time in the 200-meter individual medley, clocking 1:53. 68. This happened the day after he set a world record in the same event.
China's capital suffered from extremely heavy rainfall, which caused the death of 44 people in the city, as well as the disappearance of 9. The Beijing authorities admitted gaps in their readiness for extreme weather conditions. In total, according to media reports, about 60 people died in northern China.
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 rose after Donald Trump's statement about introducing measures against Russia and tariff threats to countries trading Russian oil. Brent futures rose to $72.09, and WTI to $69.97.
Donald Trump plans to introduce import duties for countries that buy Russian oil. This will be a new tool to pressure Moscow, which is circumventing sanctions.
US President Donald Trump announced the imposition of 25% tariffs on goods from India, accusing the country of buying Russian weapons and energy. This decision, which will take effect on August 1, also includes an additional penalty.
The US Treasury Secretary warned China about high tariffs on Russian oil, but Beijing declared the protection of energy sovereignty. China remains the largest buyer of Russian oil, despite the threat of sanctions.
Chinese leader Xi Jinping insists on a meeting with US President Donald Trump. The meeting could take place this year in China or at the White House.
Taiwanese President Lai Ching-te canceled his trip to Latin America after the US opposed his stopover in New York. The Trump administration denied permission for the stopover after objections from China, intensifying concerns about the US position.
US President Donald Trump expressed hope for a meeting with Chinese leader Xi Jinping by the end of the current year. Earlier, Trump stated that he was not seeking a special meeting, but had received an invitation to visit China.
The US negotiating team is returning to Washington for a meeting with President Donald Trump regarding the extension of tariffs for China. Trade representative Jamison Greer stated that a decision on suspending tariff changes after August 12 has not yet been made.
In northern China, including Beijing, 543. 4 mm of precipitation fell from July 23 to 28, almost equal to the annual norm, causing floods and landslides. As a result of the bad weather, at least 38 people died, more than 80,000 were evacuated, and the infrastructure suffered significant damage.
On July 29, Bitcoin broke the $119,000 mark, trading sideways for most of July. Markets are awaiting the results of US trade negotiations with the EU and China by August 1.
Donald Trump said he was not seeking a meeting with Xi Jinping, but was ready to visit China only at his invitation. Earlier, the Trump administration denied the Taiwanese president a stopover in New York after objections from China.
Spot gold was at $3311. 33 an ounce, hitting its lowest level since July 9. This comes amid easing concerns about a global trade war and a strengthening dollar, which reduced gold's appeal as a safe-haven asset.
Brent and WTI crude futures fell after the US-EU trade deal, which averted a full-scale trade war. The market awaits the US Federal Reserve's decision on interest rates and negotiations between the US and China.
