Ukraine raids oil refinery, Russian gasoline prices hit record high
A series of drone attacks on Russian oil refineries has severely disrupted the domestic energy supply chain. According to Russian media, retail gasoline prices in many regions have reached historic highs, raising concerns about spillover effects to the Eurasian market.
Trump puts pressure on India: Stop importing Russian oil or face tariffs
Speaking in New Jersey, former US President Donald Trump said Washington “will not tolerate” countries that continue to buy oil from Moscow. He warned that he could impose tariffs of up to $351T on goods originating from India, including pharmaceuticals and electronic components, if New Delhi does not change its stance.
News August 5: Gold prices rise, Ukraine attacks Russian oil facilities, Trump pressures India
Russia accuses Britain of “making up excuses” to attack oil tankers
The Russian Foreign Ministry today accused London of trying to “create an international incident” through the attack on the Russian tanker, thereby creating the premise for NATO to tighten sanctions. The British government has not yet commented.
Beijing and New Delhi react strongly to US oil embargo
Both China and India have voiced opposition to new US sanctions targeting intermediaries that buy oil from Russia. Analysts say rising tensions in the Asia-Europe energy supply route could put global supply chains at greater risk in the fourth quarter.
Russia announces withdrawal of commitment not to deploy medium-range missiles
Russia’s Defense Ministry has confirmed that it will resume deployment of medium- and long-range missile systems. The response from Brussels shows that the EU is increasingly concerned about the return of the arms race to Europe after more than a decade of lull.
EU postpones plan to retaliate against US tariffs
The European Commission said it would delay retaliatory tariffs to avoid escalating transatlantic trade tensions, but negotiations are continuing as many European industries come under pressure from Washington’s new tariffs.
Wall Street surges on Fed rate cut expectations
US stocks rose, with the Nasdaq and S&P 500 posting their biggest gains since May. The gains were supported by expectations that the Federal Reserve will begin its interest rate-cutting cycle later this year. Technology and consumer stocks led the recovery.
Gold prices increase for the third consecutive session, USD weakens
Spot gold prices rose to a two-week high on Tuesday, boosted by rising demand for safe-haven assets amid geopolitical uncertainty. The dollar weakened while the yuan rebounded, supported by China’s flexible exchange rate policy.
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