Russia-Ukraine war: List of key events, day 1,262
Fighting
A Russian drone attack on Ukraine's southern Odesa region damaged an oil depot owned by Azerbaijan's state oil company SOCAR, two industry sources told the Reuters news agency on Friday. Four people were wounded in the attack, one of the sources said.
Ukrainian journalist Viktoria Roshchyna, who died in Russian captivity last year, was buried in Kyiv, while her colleagues called for international pressure to secure the release of other Ukrainian reporters held prisoner by Moscow.
Ceasefire
United States President Donald Trump will meet with Russian President Vladimir Putin to negotiate an end to the war in Ukraine on August 15 in Alaska. Trump made the announcement on social media after he said that the parties, including Ukrainian President Volodymyr Zelenskyy, were close to a ceasefire deal that could resolve the three-year conflict.
Addressing reporters at the White House earlier on Friday, Trump suggested an agreement would involve some exchange of land. 'There'll be some swapping of territories to the betterment of both,' Trump said.
Putin has presented the Trump administration with a ceasefire proposal that demands major territorial concessions by Kyiv and a push for global recognition of Moscow's claims on Ukrainian territory in exchange for a halt to fighting, The Wall Street Journal reported, citing European and Ukrainian officials.
Putin spoke to the leaders of China, India and three ex-Soviet states in a flurry of calls to brief them on his contacts with the US about the war in Ukraine.
In his evening address to the nation, President Zelenskyy said it was possible to achieve a ceasefire as long as adequate pressure was applied to Russia. He said he had held more than a dozen conversations with leaders of different countries, and his team was in constant contact with the US.
Economy and finance
Canada, the European Union and the United Kingdom will lower the price cap paid for seaborne Russian-origin crude oil to $47.60 from $60 per barrel over Moscow's war in Ukraine, Ottawa's Finance Department said in a statement.
Ukraine is set to receive over 3.2 billion euros ($3.73bn) in funding after the European Council adopted a decision on the fourth regular disbursement of support under the EU's Ukraine Facility.
The funding aims primarily to bolster Ukraine's macro-financial stability and support the functioning of its public administration, the council said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Qatar Tribune
2 hours ago
- Qatar Tribune
Trump nominates financial policy aide Stephen Miran for vacant Federal seat
Agencies U.S. President Donald Trump said Thursday he will nominate a top economic adviser to the Federal Reserve's Board of Governors, temporarily filling a vacancy as he seeks to boost his sway over the independent central bank. Trump said he has named Stephen Miran, the chair of the White House's Council of Economic Advisers, to fill a seat vacated by Governor Adriana Kugler, a former President Joe Biden appointee who is stepping down Friday. Kugler announced a surprise resignation last week, as she returns to her tenured professorship at Georgetown University. Miran, if approved by the Senate, will serve until Jan. 31, said the White House continues to search for a permanent replacement to serve in the 14-year Fed Board seat that opens Feb. 1. The appointment is Trump's first opportunity to exert more control over the Fed, one of the few remaining independent federal agencies. Trump has relentlessly criticized the current chair, Jerome Powell, for keeping short-term interest rates unchanged, calling him 'a stubborn MORON' last week on social media. Miran has advocated for a far-reaching overhaul of Fed governance that would include shortening Board member terms, putting them under the clear control of the president, and ending the 'revolving door' between the executive branch and the Fed. He has also been a major defender of Trump's income tax cuts and tariff hikes, arguing that the combination will generate enough economic growth to reduce budget who obtained a PhD in economics from Harvard, also has played down the risk of Trump's tariffs generating higher inflation, a major source of concern for Powell. His 41-page essay titled 'A User's Guide to Restructuring the Global Trading System' has been seen as providing rationale for Trump's aggressive trade policies. The choice of Miran may heighten concerns about political influence over the Fed, which has traditionally been insulated from day-to-day independence is generally seen as key to ensuring that it can take difficult steps to combat inflation, such as raising interest rates, that politicians might be unwilling to take. Federal Reserve governors vote on all the central bank's interest-rate decisions, as well as its financial regulatory policies. Miran's nomination, if approved, would add a near-certain vote in support of lower interest rates. At its most recent meeting last week, Fed officials kept their key rate unchanged at 4.3%, where it has stood after three rate cuts late last year. But two Fed governors – Christopher Waller and Michelle Bowman – dissented from that decision. Both were appointed by Trump in his first term. Still, even with Miran on the board, 12 Fed officials vote on rate policy and many remain concerned that Trump's sweeping tariffs could push inflation higher in the coming months. After the July jobs report was released last Friday, Miran criticized Powell for not cutting rates, saying that Trump had been proven correct on inflation during his first term and would be again. The president has pressured Powell to cut rates under the belief that his tariffs will not fuel higher inflationary pressures.'What we're seeing now in real time is a repetition once again of this pattern where the president will end up having been proven right,' Miran said on MSNBC. 'And the Fed will, with a lag and probably quite too late, eventually catch up to the president's view.' Trump said Miran would do an 'outstanding' job in his new post. 'Has been with me from the beginning of my Second Term, and his expertise in the World of Economics is unparalleled,' Trump wrote on Truth Social. 'Congratulations Stephen!'
Qatar Tribune
2 hours ago
- Qatar Tribune
Global food prices reach highest level in over two years: FAO
QNA Paris The United Nations Food and Agriculture Organization (FAO) announced that global prices of essential food commodities rose in July to their highest level in more thantwo years. In its report released Friday, FAO stated that its Food Price Index, the global benchmark for tracking food commodity prices, reached 130.1 points in July 2025, marking a 1.6 percent increasefrom June. This is the highest reading since February 2023, although still 18.8 percent below its peak in March 2022 following the outbreak of the Russia-Ukraine war. The organization noted that the gains in meat and vegetable oil prices in July offset notable declines in grain, dairy, and sugar prices. Grain prices fell by 3 percent month-on-month, attributed to improved production forecasts in key exporting countries such as Kazakhstan and Ukraine. Corn export prices also dropped amid expectations of increased output in Argentina and Brazil. Meanwhile, dairy prices rose by 1.2 percent, and the sugar index increased by 1.9 percent, partly due to weaker-than-expected harvest results in Brazil during May, according to FAO. The organisation confirmed that the strong increase in meat and vegetable oil prices in July outweighed the declines in grain, dairy, and sugar prices, leading global food prices to record a noticeable upward trend that may continue in the coming months.
Qatar Tribune
2 hours ago
- Qatar Tribune
Oil steadies on reports of US-Russia deal, ends week about 5% lower
Oil held steady on Friday as markets awaited a meeting in coming days between Russian president Vladimir Putin and his U.S. counterpart Donald Trump, but prices marked their steepest weekly losses since late June on a tariff-hit economic outlook. Brent crude futures settled 16 cents higher at $66.59 a barrel, while U.S. West Texas Intermediate crude futures were unchanged at $63.88. Brent fell 4.4% over the week, while WTI finished 5.1% lower than last Friday's close. U.S. crude fell over 1% earlier in the session after Bloomberg News reported that Washington and Moscow were aiming to reach a deal to halt the war in Ukraine that would lock in Russia's occupation of territory seized during war. U.S. and Russian officials are working towards an agreement on territories for a planned summit meeting between Trump and Putin as early as this week. The potential meeting raises expectations of a diplomatic end to the war in Ukraine, which could lead to eased sanctions on Russia, and comes as trade tensions have been on the rise between Trump and buyers of Russian oil. Trump threatened to increase tariffs on India if it kept purchasing Russian oil. Trump also said China, the largest buyer of Russian crude, could be hit with tariffs similar to those levied against Indian imports. Higher U.S. tariffs on imports from a host of trade partners went into effect on Thursday, raising concern over economic activity and demand for oil. Asian Spot LNG Prices Down on Weak Demand; Eyes on Sanctions Asian spot liquefied natural gas prices declined last week due to weak demand and as markets awaited further clarity on U.S. Russian energy sanctions or secondary tariffs. The average LNG price for September delivery into north-east Asia was at $11.90 per million British thermal units, down from $12.10 per mmBtu previous week, industry sources estimated. Spot global gas prices have been relatively rangebound since the start of summer gas season in April.. Analysts expect this trend to continue during the remaining months of the summer season. The market will be paying close attention to the latest news on tariffs and peace talks between Russia, the U.S. and Ukraine. Increased tariffs on countries like India could slow global trade, cutting energy demand. In Europe, prices remained relatively stable as Friday marks the deadline for Russia to respond to the U.S. ceasefire ultimatum. Looking ahead, anticipated Norwegian maintenance later this month, coupled with the need for further injections into Europe's storage, could provide upward price support in the second half of August.
