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Yahoo
9 minutes ago
- Yahoo
Oil Steady With Focus on India-Russia Trade Before Tariff Boost
(Bloomberg) -- Oil was steady as the market weighed the outlook for Russian crude flows to India after a Trump administration official ramped up his criticism over the trade ahead of an expected tariff increase. Brent held below $68 a barrel, on track for the biggest weekly gain since early July, while West Texas Intermediate was near $63. White House trade adviser Peter Navarro blasted India again for continuing to buy Russian oil and said he sees US import levies on the nation doubling as planned on Aug. 27. Why New York City Has a Fleet of New EVs From a Dead Carmaker Trump Takes Second Swing at Cutting Housing Assistance for Immigrants Neom's Desert Ski Resort Strains Saudi Prince's $1.5 Trillion Plan Chicago Schools Seeks $1 Billion of Short-Term Debt as Cash Gone We Need a Reality Check on Crime, Safety and Transit 'India doesn't appear to want to recognize its role in the bloodshed,' he said. 'They don't need the oil. It's a refining profit sharing scheme.' President Donald Trump has threatened to raise the duties on Indian imports to the US to 50%, half of which would be due to purchases of Russian crude. Still, oil refiners in the South Asian nation have returned to buying after a brief pause, while an official from Moscow expects flows to be maintained. Earlier this week, Navarro claimed that the surge in Russian imports since the war in Ukraine was driven by 'profiteering by India's Big Oil lobby' and not domestic needs. Oil is still lower for the year as OPEC+ ramps up production and Trump's trade policies spark concerns over demand. Foreigners Are Buying US Homes Again While Americans Get Sidelined Volkswagen EVs Outsell Tesla in Europe a Decade After Dieselgate What Declining Cardboard Box Sales Tell Us About the US Economy Survived Bankruptcy. Next Up: Cultural Relevance? Women's Earnings Never Really Recover After They Have Children ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CBS News
9 minutes ago
- CBS News
Judge blocks Trump administration from expanding Florida's "Alligator Alcatraz" over environmental concerns
A federal judge on Thursday ordered an indefinite halt to new construction at an immigration detention facility that Florida officials have dubbed "Alligator Alcatraz," and barred any new detainees from being brought to the site, siding with environmental groups who said the facility is endangering the Everglades and its wildlife. The decision is a setback for Florida's Republican-led state government and its aggressive efforts to aid the Trump administration's hardline immigration agenda, including by deputizing thousands of state police as federal immigration officers. The order by U.S. District Court Judge Kathleen Williams did not require Florida officials to completely cease operations at Alligator Alcatraz, allowing the state to continue using existing structures there to detain immigrants suspected of being in the U.S. illegally. But Williams barred any more detainees from being transferred to the site — dashing plans to expand the detention center. The makeshift detention facility — located in what was largely an abandoned airfield — is one of several locations and prisons that Republican-led states have offered the Trump administration so they can be converted into immigration detention centers. Officials in Indiana and Nebraska have also allowed facilities in their states to hold immigrants facing deportation. Thursday's ruling stems from a lawsuit filed by the Miccosukee tribe and environmental activists who challenged operations at Alligator Alcatraz on environmental grounds. They've argued environmental reviews mandated in federal law should have been completed before the site was set up. Florida officials have argued Alligator Alcatraz is not subject to those federal environmental requirements because the facility is run by the state. The Trump administration has said it will reimburse Florida for the effort using federal funds. Williams had paused further construction at Alligator Alcatraz earlier this month, but only for two weeks. A separate lawsuit over the legal rights of those held at the Everglades facility is also playing out. That case was partially dismissed by the U.S. District Court Judge Rodolfo Ruiz earlier this week, since the Trump administration had designated an immigration court to hear the claims of those detained at Alligator Alcatraz, one of the main concerns raised by the lawsuit. But Ruiz allowed another part of the case centered on detainees' right to in-person and confidential legal consultations to proceed, transferring the lawsuit to another federal judge.
The Hill
10 minutes ago
- The Hill
Pence calls for secondary sanctions on Russia
Former Vice President Pence urged the Senate on Thursday to pass a major sanctions bill against Russia, arguing that the hefty tariffs, along with continued military aid to Ukraine, provide the best 'pathway' to reaching peace in Eastern Europe. 'He's fully capable of doing the diplomatic thing and being friendly and shaking hands and at the same time saying, here's the economic consequences that are going to happen, unless you step forward,' Pence said of President Trump during his appearance on NewsNation's show 'The Hill.' 'If we pass those secondary sanctions, Vladimir Putin will understand that we could literally break their economy and by providing continued military support for Ukraine, that combination of efforts, I think, is the best pathway to peace,' the former vice president told host Blake Burman. The sanctions bill, which has been pushed by Sens. Lindsey Graham (R-S.C.) and Richard Blumenthal (D-Conn.), would impose 500 percent tariffs on countries purchasing Russian oil and gas. The measure has over 85 co-sponsors in the upper chamber, but the Senate left for recess before advancing the bill, deferring to Trump to give the green light. 'We propose in our bill 500 percent. If it's 250 percent, I could live with it. Even if it's 100 percent, possibly. But you ought to impose bone-crushing sanctions that will stop them from fueling Russia's war machine,' Blumenthal said earlier this month. Senate Majority Leader John Thune (R-S.D.) said on Monday that Trump should be 'commended' for his efforts to end the Russia-Ukraine war and signaled the Senate is 'ready' to provide the president 'any economic leverage needed to keep Russia at the table to negotiate a just and lasting peace in Ukraine.' Trump has pushed to end the three-and-a-half-year war, meeting with Russian President Vladimir Putin on Friday and Ukrainian President Volodymyr Zelensky, along with seven European leaders, on Monday at the White House. Since then, Russian officials have expressed doubt about the possibilities of a speedy peace deal with Ukraine, including agreeing on security guarantees for Kyiv and scheduling a bilateral meeting between Putin and Zelensky, for which the president has advocated for some time. Russian Foreign Minister Sergey Lavrov questioned Zelensky's legitimacy on Thursday and stated the security guarantees under ongoing talks are 'hopeless.' Lavrov claimed that Putin is ready to meet with the Ukrainian president with the 'understanding that all issues that require consideration at the highest level will be well worked out.' Trump said Thursday that 'interesting times [are] ahead' and slammed his predecessor, former President Biden, over his administration's policy of barring Ukraine from using U.S. long-range weapons to strike deep inside Russia. 'It is very hard, if not impossible, to win a war without attacking an invaders country. It's like a great team in sports that has a fantastic defense, but is not allowed to play offense. There is no chance of winning! It is like that with Ukraine and Russia,' the president said on Truth Social. Pence, in the interview with NewsNation, argued that one of the reasons why Putin did not invade Ukraine during Trump's first White House term is that the Trump-Pence administration 'had the credible threat of the use of force.' 'He saw us take action, unleashing our military to take down the ISIS caliphate,' Pence said on Thursday. 'Send cruise missiles into Syria to take down Qasem Soleimani, the Iranian Revolutionary Guard leader.'
