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.
US President Donald Trump has maintained a basic tariff rate of 10% for countries with a positive trade balance. For 40 countries with a trade deficit with the US, a minimum tariff of 15% has been set, and for Canada, the tariff has increased to 35%.
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.
Dmytro Medvedev responded to Donald Trump's words about "dangerous territory" and the "dead economies" of India and Russia. He ridiculed the US president and hinted at nuclear war.
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.
Donald Trump reacted to Dmitry Medvedev's threats of war with the US, urging him to watch his words. Trump also commented on US relations with India and Russia.
US President Donald Trump signed a decree introducing additional 40% tariffs on Brazil, bringing the total tariff amount to 50%. This is due to the policy of the Brazilian government, which poses a threat to US national security.
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 owners of three vessels chartered by India's Nayara Energy are asking to terminate their contracts. The decision is related to the impact of new EU sanctions targeting the Russian energy sector.
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.
On the night of July 28-29, 2022, Russia committed a terrorist act in the Olenivka colony, where about 50 Ukrainian prisoners of war were killed and about 140 were wounded. In Ukraine, July 29 is the Day of Remembrance for Fallen Soldiers of the Special Operations Forces.
US Senator Lindsey Graham stated that Russian President Vladimir Putin was mistaken in his calculations regarding Donald Trump. He emphasized that the Kremlin's inability to negotiate indicates a lack of desire to end the war, and Russia's allies must be held accountable.
More than 90% of environmental defenders and climate activists worldwide have experienced online harassment, most often on Facebook. A Global Witness study found that online attacks often escalate into real-world threats, and Meta's social networks are the primary platforms for such abuse.
Indian police arrested 47-year-old Harshvardhan Jain, who impersonated an ambassador of fictional states, creating fake diplomatic missions. He is suspected of fraud, forgery, and money laundering through fictitious companies, promising jobs abroad.
On Friday morning, a part of a state school building collapsed in India, killing at least six students and injuring 29. The incident occurred in the village of Piplod, Jhalawar district, during morning prayers.
Indian company Ideal Detonators Private Limited supplied military-grade explosive octogen to Russia in December for $1. 4 million. This happened despite US warnings of possible sanctions against organizations supporting Russia's war efforts.
Shipowners and oil traders are distancing themselves from the Indian company Nayara Energy Ltd. after its inclusion in the EU sanctions package. The tanker Talara turned around and left the port of Vadinar without loading fuel, and Nayara began demanding prepayment due to concerns about payments.
In northern Pakistan's Diamer district, three people died and more than 15 went missing due to monsoon rains. The disaster destroyed dozens of homes, infrastructure facilities, and blocked key highways.
July 22 marks Mango Day, World Brain Day, Pi Approximation Day, Summer Rest Day, Hammock Day, and the Day of Saint Mary Magdalene Equal to the Apostles. On this day in 2014, Sievierodonetsk was liberated from pro-Russian militants.
The European Union announced that a new package of measures to restrict fuel supplies from Russian oil will not come into force until January 21 next year. This decision dispelled fears of a narrowing diesel market and gave markets a respite.
In Bangladesh, an F-7 BGI military aircraft crashed on the grounds of Milestone School and College in Dhaka. At least one person was killed and four others were injured in the incident.
US Senator Lindsey Graham stated that Donald Trump plans to impose tariffs on countries that buy Russian oil, including China, India, and Brazil. These countries buy about 80% of cheap Russian oil, supporting the Russian war machine.
A study by the Barcelona Supercomputing Center found a direct link between climate extremes and sharp spikes in food prices. This highlights the growing vulnerability of food systems to environmental shocks, leading to inflation and affecting the consumption of poorer households.
The Russian state-owned company Rosneft called the European Union's sanctions against the Indian oil refinery Nayara Energy "unjustified and illegal. " The Indian Ministry of Foreign Affairs also disagrees with unilateral EU sanctions against Indian companies.
The EU has approved a new package of sanctions against Russia, which includes a revised price cap on Russian oil, disconnection of banks from SWIFT and restrictions on the shadow fleet. The sanctions also apply to Chinese banks and the export of drone technologies.
Meta apologized after its auto-translation mistakenly reported the death of Siddaramaiah, the chief minister of the Indian state of Karnataka. The minister had posted condolences regarding the death of an actress, but the algorithms translated this as his own death.
Austrian extreme athlete Felix Baumgartner died on July 17 in Italy during a paragliding flight. The 56-year-old athlete lost control and crashed into a hotel complex's swimming pool, which led to cardiac arrest.
