The US Congress has fast-tracked a bill granting the president authority to impose 100% tariffs on countries purchasing oil and gas from Russia, including India, China, Turkey, and Japan. Originally proposed by the late Senator Lindsey Graham, the revised legislation moved through the Senate and the House Freedom Caucus ahead of the midterm elections. Analysts note the move provides diplomatic leverage ahead of the Chinese president's visit to Washington, DC, to negotiate trade, artificial intelligence, and semiconductor issues. The measure also signals congressional intent to address ongoing conflicts in Ukraine and West Asia. Discussion highlighted concerns regarding the economic impact on India amid ongoing bilateral trade negotiations and global energy vulnerabilities. The legislation permits presidential waivers, with experts emphasizing the objective of restricting revenues funding Russia's military campaign in Ukraine.
The US Congress has fast-tracked a bill granting the president authority to impose 100% tariffs on countries purchasing oil and gas from Russia, including India, China, Turkey, and Japan. Originally proposed by the late Senator Lindsey Graham, the revised legislation moved througâŚ
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Norwayâs sovereign wealth fund reported a 15.7 percent increase in returns from its remaining Israeli holdings during the first half of 2026, amounting to $2.4 billion since the end of 2025. While the fund reduced its portfolio from 61 to 29 Israeli companies last year citing humanitarian concerns and has halted new investments, advocacy groups continue to criticize the continued allocation of public capital to these firms.
Ukrainian President Volodymyr Zelensky stated in an interview with CBC News that he believes Moscow aims for Ukraine's absorption into Russia and rejected the premise of a "win-win" outcome, prioritizing the preservation of human life. He indicated that Ukraine would be open to an unconditional ceasefire along the current line of contact to facilitate diplomatic negotiations mediated by international partners, while noting that his views differ slightly from those of U.
S. envoy Jared Kushner.
The Treasury Department announced new sanctions on Russia's VTB Bank, alleging the institution facilitated Iranian sanctions evasion through correspondent relationships with sanctioned Iranian banks. While officials described the measure as a step in isolating Iranâs financial network, some observers questioned its overall economic impact, noting that VTB is reportedly the only Russian bank with a branch in China.
The Denver Gold Group reports its members now hold an aggregate market capitalization of US$1.2 trillion, nearly double the 2025 figure, ahead of the Mining Forum Americas which anticipates record attendance. Following initial price peaks in March, gold prices have stabilized near US$4,500 per ounce after declines attributed by market observers to the outbreak of conflict with Iran and shifts in interest rates.