US President Donald Trump is considering whether to punish Russia. Instead, he announced a summit with Putin. Trump also informed European leaders about a possible meeting with Putin and Zelensky, for which Moscow, it seems, has not provided sufficient assurances.
Oil prices were little changed on Friday but are heading for their biggest weekly losses since late June due to new US tariffs. Investors are concerned about the impact of the tariffs on the global economy and oil demand.
China is deliberately prolonging the war in Ukraine, strengthening military and economic cooperation with Russia. Beijing considers the conflict beneficial for weakening the United States. This position nullifies Western peace initiatives.
The US-sanctioned tanker Contract II, currently at a scrapyard in India, is being sold under unusual payment terms and with the seller's identity concealed. This indicates increasing pressure on "dark fleet" vessels amid tightening sanctions.
The US is doubling tariffs on Indian goods as punishment for purchases of Russian oil. This creates a dilemma for India, which has long-standing relations with Moscow.
Gold prices are rising amid hopes for a Fed interest rate cut and Trump's statements about new tariffs. Spot gold and gold futures are showing growth in Asian trading.
New tariffs introduced by US President Donald Trump have come into force, raising the average US tariff rate to 15. 2%. This is the highest figure since World War II, posing a new challenge for the global economy.
Oil prices rose 1% after US inventories fell and exports increased. Macroeconomic uncertainty due to US tariffs on Indian goods limits growth.
US President Donald Trump announced that a decision on additional tariffs on Chinese goods is close to being made. This is related to Beijing's trade with Russia, but the exact date of the restrictions' introduction is unknown.
US President Donald Trump stated that the imposition of sanctions against India is only the first step. A significant expansion of the list of secondary restrictions is expected.
The Trump administration plans new measures to pressure Russia, including sanctions against the shadow fleet of oil tankers. This comes after the introduction of 25% tariffs for India for buying Russian oil.
India's Ministry of External Affairs states that US tariffs on Russian oil imports are "unfair. " Trump's decision is called "unfortunate," and India promises to protect its interests.
The US President signed a decree introducing an additional 25% tariff on India. This decision is related to India's import of oil from Russia.
Gold prices slightly decreased due to the strengthening dollar and investors' expectations of Trump's decisions regarding appointments to the Fed. Spot gold fell by 0.2%, futures by 0.1%.
Brent and WTI crude futures rose 0. 6% after falling to a five-week low. This happened amid fears of supply disruptions due to US threats to impose tariffs on India for buying Russian oil.
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.
In the Indian Himalayas, at least four people have died and dozens are missing due to a sudden avalanche caused by a "cloudburst. " The downpour devastated the village of Dharali, but most residents were in a neighboring town for a fair.
Donald Trump believes that falling energy prices will force Putin to stop killing people. He also threatens India with increased tariffs over purchases of Russian oil.
Donald Trump announced a significant increase in tariffs on India within 24 hours. The reason cited was India's purchase of Russian oil, which, according to Trump, fuels Russia's war machine.
India's National Security Advisor Ajit Doval and Foreign Minister S. Jaishankar will visit Russia for annual consultations. This comes amid growing tensions in India-US relations and Russia's ongoing war against Ukraine.
In India, heavy rain caused a sudden flood in Dharali village, Uttarkashi district. Five people died, dozens are missing, and houses were washed away by the water.
The global rise in gold prices is driven by the protectionist policies of the US, which have undermined confidence in the dollar. Investors and countries are seeking alternatives, reorienting towards gold and the euro.
Brent and WTI crude futures fell amid concerns about OPEC+'s oversupply and a weak demand outlook. This is the fourth consecutive decline for both contracts, which reached their lowest level in a week.
US Ambassador to NATO Matthew Whitaker stated that Trump's policy is pushing Russia towards negotiations with Ukraine. The next step will be secondary sanctions and tariffs against countries buying Russian oil.
The Indian Ministry of Foreign Affairs stated that the country imports Russian oil due to the redirection of traditional supplies to Europe. India claims that the US and EU themselves continue trade with Russia, including energy and other goods.
Donald Trump announced a significant increase in tariffs on imports from India. The reason is Delhi's active trade with Russia and the resale of Russian oil.
The price of gold at the beginning of August 2025 reached 134,480 hryvnias per troy ounce, which is more than 20% higher than in December 2024. Global demand for gold increased by 3%, with investment demand rising by 78%, and demand for jewelry decreasing.
Indian Oil Corp purchased 7 million barrels of crude oil from the US, Canada, and Abu Dhabi for September delivery. This happened after a suspension of Russian oil purchases, partially replacing its volumes.
Citi raised its gold price forecast to $3500 per ounce, anticipating a worsening US economy and inflation. This is due to new tariffs, a weakening dollar, and expectations of a Fed rate cut.
China refused to stop purchasing oil from Iran and Russia, citing national energy interests. Beijing stated that coercion and pressure would not succeed.
