
Kremlin vows to ‘increase force' of attacks on Ukraine despite EU sanctions
In a post on his official Telegram channel, Mr Medvedev said the new sanctions would do little to alter Russia's stance on the conflict, just as previous rounds of sanctions had failed to make an impact.
Mr Medvedev, who has emerged as one of the Kremlin's top hawks, said Russia planned to intensify its strikes on Ukraine. 'Strikes against targets in so-called Ukraine, including Kyiv, will be carried out with increasing force', Mr Medvedev said.
US president Donald Trump announced a toughened stance against Russia on Monday, promising a fresh wave of missiles and other weaponry, including Patriot missile defence systems capable of destroying Russian ballistic missiles.
He also gave Russia 50 days to sign up to a ceasefire or face new sanctions.
The EU yesterday agreed an 18th package of sanctions against Russia, including measures aimed at dealing further blows to the Russian oil and energy industry.
The bloc will set a moving price cap on Russian crude oil at 15pc below its average market price, EU diplomats said.
This aims to improve on a largely ineffective $60 (€52) per barrel cap that the G7 economies have tried to impose since December 2022.
'The EU just approved one of its strongest sanctions packages against Russia to date,' EU foreign policy chief Kaja Kallas said on X.
'We will keep raising the costs, so stopping the aggression becomes the only path forward for Moscow.'
The UK also announced it would join the price cap move, saying it would deal a blow to Moscow's oil revenues used to finance the ongoing conflict.
Earlier yesterday, Russian spokesman Dmitry Peskov said that the Kremlin did not believe that the tougher stance Mr Trump has adopted towards Russia means the end of US-Russia talks aimed at improving the relationship between the two countries.
Asked if Mr Trump's statements meant that negotiations aimed at reviving battered ties between Moscow and Washington would now end, Mr Peskov said: 'We assume that this is not what it means. Of course, these are different issues. One issue is the question of the Ukrainian [peace] settlement. The other issue is our bilateral relations.'
Mr Peskov said many 'irritants' and problems still needed to be resolved in order to improve ties with Washington, which he said were 'in a deplorable state'. He called efforts to change the situation time-consuming and difficult.
Moscow's dialogue with Washington appeared to improve after Mr Trump retook office in January, but Mr Trump has grown increasingly frustrated with Vladimir Putin over conditions the Russian president has attached to any potential ceasefire.
Russia and Ukraine held two rounds of peace talks in Turkey earlier this year, which yielded an agreement to exchange prisoners and soldiers' remains.
But no date has yet been set for a third round of talks, and the warring sides remain far apart on the terms of any ceasefire or eventual peace settlement.
Ms Svyrydenko negotiated a high-level deal offering the US preferential access to Ukraine's mineral wealth
Ukraine and the US, meanwhile, have been holding detailed talks on a deal involving US investment in Kyiv's domestic drone production, new Ukrainian prime minister Yulia Svyrydenko said yesterday.
Her announcement came a day after President Volodymyr Zelensky tasked a new, reshuffled government with scaling up Ukraine's arms industry and strengthening ties with its strategic partners.
Ms Svyrydenko, speaking alongside several other new ministers in Kyiv, said the deal would also lead to the US – Ukraine's biggest military backer – purchasing Ukrainian drones.
'We plan to sign a drone deal with the United States. We are discussing investments in the expansion of production of Ukrainian drones by the US,' she said. 'That is, we are talking about the purchase of a large batch of Ukrainian drones.'
Ms Svyrydenko added that a political decision on the deal had been made by Mr Zelensky and Mr Trump, and that officials were hashing out the details.
Mr Zelensky told the New York Post this week that he and Mr Trump were considering a deal for Washington to buy battlefield-tested Ukrainian drones in exchange for Kyiv purchasing weapons from the US.
The Ukrainian government under Ms Svyrydenko is expected to shore up ties with the Trump administration.
Ms Svyrydenko is well-known in Washington, having negotiated a high-level deal offering the US preferential access to Ukraine's mineral wealth. The deal will feed a reconstruction fund.

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RTÉ News
11 minutes ago
- RTÉ News
Europe 'capitulated' on US tariff deal, says Ibec CEO
CEO of Ibec Danny McCoy has described the deal reached by the European Union and the United States on trade tariffs as a capitulation by Europe. The agreement will see EU exports taxed at 15% in a bid to resolve a transatlantic tariff stand-off that threatened to explode into a full-blown trade war. The deal was announced following a meeting between European Commission President Ursula von der Leyen and US President Donald Trump. Speaking on RTÉ's Morning Ireland, Mr McCoy said: "The good news, if there is good news on this, is that uncertainty may be dissipating and that's going to be important for people in business to make decisions." However, he said the deal was "fairly punishing" for the EU and added "Europe has capitulated". "It's quite tragic that we are in this situation. If Europe had equal strength, it could have confronted the United States," he said. Mr McCoy said that while the EU is a "strong economic zone", its weakness is that "we cannot defend the European Union". Under the deal, the EU pledged to buy US military equipment and European companies are to invest $600 billion in the US over President Trump's second term. "US businesses are now favoured coming into Europe without tariffs and our European businesses are facing 15%. "In time, this will lead to a lot of changes in terms of businesses having to look at different markets than the United States or suffer significant losses trading with the United States," Mr McCoy said. He also raised concerns for Ireland that goods from the UK entering the US will have a smaller tariff rate of 10%. The US and UK agreed to a trade deal in early May, which included a baseline 10% tariff on most goods exported to the US, with certain exemptions. The agreement includes goods being exported from Northern Ireland. EU-US tariffs deal gives clarity, says minister Minister for Enterprise Peter Burke said that the deal brings clarity and avoids a trade war that could have resulted in 30% tariffs on EU goods. Speaking on the same programme, he said: "It gives certainty which is key, but there's three key areas I think we have to focus on. "We are about four days away, which would have been a 30% tariff for the US and that would have been very significant for all our companies right across the country. "Secondly, I think it avoids a direct trade war because we're very much aware that there was about €100 billion of countermeasures that were ready to be deployed, which would have a very significant effect on Ireland and as well on the north-south economy." Mr Burke added that "the devil is in the detail and we do need to see those key areas, those carve-outs that have been specifically called out by the President of the Commission yesterday". He said that the Irish Government "is very, very clear and has been that tariffs are bad" and said 15% is a "very significant tariff". In relation to pharmaceuticals, Mr Burke said that the understanding is that the 15% tariff "will be a ceiling" subsequent to the US investigation. "Pharmaceuticals are very complex, a lot of the product that is exported over to the US is not a complete product. Almost 70% of it is components of the final product that will come together. "And that's why we do need to ensure that we have a very keen rate to ensure we incentivise innovation in that sector because that's so important for the global economy. "We've about 100,000 employees in Ireland, 130 billion exports in the life science sector and the Government will be bringing forward a separate life science strategy later on this year, which will be key in continuing the investment and offering a very competitive proposition from Ireland's perspective," Mr Burke added.


Irish Times
41 minutes ago
- Irish Times
How the EU succumbed to Trump's tariff steamroller
The path to the EU's capitulation to Donald Trump's trade blitz was set on April 10th. The sweeping 'liberation day' tariffs that the US president had inflicted on most of the world earlier that month had sent financial markets into a tailspin as investors dumped US assets over recession fears. With the sell-off intensifying, Trump blinked and on April 9th dropped the tariffs to 10 per cent. But Brussels blinked too. On April 10th it suspended its retaliatory tariffs and accepted the US offer of talks with a knife at its throat: 10 per cent tariffs on most of its trade, along with higher levies on steel, aluminium and vehicles. Rather than join Canada and China with instant retaliation and inflict pain on US consumers and businesses, the EU – hamstrung by divergent views among its member states – chose to take the pain in the hope of securing a better deal. READ MORE Under the framework deal struck by European Commission president Ursula von der Leyen and Trump at his Turnberry golf resort on Sunday, the EU has swallowed a broad-based 'baseline' US tariff of 15 per cent, including crucially for cars, but not for steel, which will be subject to a quota system. Relief among policymakers about avoiding an immediate transatlantic trade war was tinged with regret: could the EU, the world's largest trading bloc and supposedly an economic heavyweight, have extracted better terms had it not pulled its punches early on? 'He's the bully in the schoolyard and we didn't join others in standing up to him,' said one diplomat. 'Those who don't hang together get hanged separately.' Georg Riekeles, a former commission official who helped negotiate the UK's exit from the bloc, said the EU's most recent threat to apply €93 billion of retaliatory tariffs against US goods came far too late. 'With the benefit of hindsight, the EU would have been better off answering the US vigorously in April in a one-two combo with China's retaliation against the US tariff hikes, which left markets and Trump reeling,' said Riekeles, now at the European Policy Centre think-tank. Trump views the EU as a parasite, feeding off the lucrative US market while closing its own through regulation and standards. The US president has said the union was 'formed to screw the US' and 'nastier than China'. The EU's response to his return to power in January was flat-footed. Months of planning beforehand by a dedicated team, which included senior trade officials led by another Brexit talks veteran Sabine Weyand and von der Leyen's trade adviser Tomas Baert, went up in smoke. They had drawn up a three-point plan modelled on the approach taken in Trump's first term: offer to reduce the near €200 billion goods trade deficit by buying more liquefied natural gas, weapons and agricultural products. Second, offer mutual tariff reductions on each other's goods. If that failed, they would prepare retaliation and rely on a market response to a possible trade war, or increasing inflation in the US, to force Trump to back down. But Trump moved faster than expected and by March had levied 25 per cent tariffs on steel, aluminium and cars. At a meeting in Luxembourg that month, many trade ministers were on the war path. Germany, France and a few others pushed for the commission to consult on using its new 'trade bazooka', the anti-coercion instrument. Designed after Trump's first term to counter trade policy being used to pressure governments over other matters, it would allow Brussels to bar US companies from public tenders, revoke intellectual property protection and restrict imports and exports. However, it was not clear a majority of member states agreed with the threatening move, diplomats said. Weyand told EU ambassadors, who met at least weekly to discuss progress, to show 'strategic patience'. When the UK struck a trade deal with Washington in May, accepting Trump's 10 per cent baseline tariff, it encouraged those EU member states seeking a settlement, especially Berlin. Meanwhile, a severe tit-for-tat escalation between the US and China ended in partial détente, easing investor fears of global trade turmoil. Stock markets reached record highs, despite the large tariff increases and continued uncertainty unleashed by Trump. Italy's prime minister Giorgia Meloni and German chancellor Friedrich Merz for months held on to the EU's early offer to drop all industrial tariffs if the US did the same, even though Washington had long made clear it wanted unilateral concessions. Berlin was preoccupied with obtaining a complicated 'offset' scheme to provide tariff relief for European – in practice German – car companies that manufactured and exported from the US. While EU technocrats were boxing under Queensberry rules, Trump was in a New York street fight. Maroš Šefčovič, the EU's avuncular trade commissioner, was dispatched to Washington seven times to propose areas of agreement, deliver homilies on the importance of the transatlantic relationship and promote Germany's car offset scheme. In total, Šefčovič held more than 100 hours of frustrating talks with his US counterparts. A deal for a permanent 10 per cent 'reciprocal' tariff, hatched in July with US trade representative Jamieson Greer and commerce secretary Howard Lutnick, was flatly rejected by Trump, who instead threatened to raise levies on the EU to 30 per cent, rather than 20 per cent, from August. And his threats had worked before. The retaliatory package the EU paused in April had been reduced from €26 billion to €21 billion after lobbying by France, Ireland and Italy to ensure bourbon was removed from the list, after Trump threatened to hit European distillers in return. If everything member states requested had been removed, only €9 billion of goods would have been left on the list, officials told the Financial Times. Over the months of talks, Šefčovič's phone rang regularly with ministers urging caution. Minister for Trade Simon Harris was a frequent caller. He wanted to save Ireland's pharmaceutical, spirits and beef industry from any US counterpunch and let the world – not least the Americans – know with frequent social media posts. Business leaders also called loudly for restraint, preferring to accept a cut to profit margins than risk punitive tariffs that would hit sales. A second package of retaliatory tariffs on the US was also cut to €72 billion before finally being approved on July 24th to be used if talks collapsed, bringing the total to €93 billion. The months-long uncertainty over the direction of negotiations has also exposed divisions inside the commission itself. Weyand, the steely expert whose hardball approach to Brexit often outfoxed her UK counterparts, has consistently argued for a stronger stance towards Trump and the use of the EU's retaliation tools, in opposition to the more dovish von der Leyen, multiple diplomats and officials told the FT. The French government, notwithstanding its attempts to shield French business from retaliation, has also repeatedly called for a more muscular commission approach to Trump's tariffs. But the commission president and her close aides argued that the potential damage from additional Trump measures – including threats to impose specific tariffs on critical sectors such as EU pharmaceuticals – meant the risk of a spiralling trade war was too great. There was also concern that a more confrontational stance towards Washington could spill over into other areas. Europe's dependency on America's security guarantee was a further argument against trade confrontation, especially for the bloc's eastern and northern members. Fears that Trump would cut off weapons supplies to Ukraine, pull troops out of Europe or even quit Nato overshadowed the talks, diplomats said. A further priority for the commission president was to preserve the EU's right to regulate. The US tech industry has pushed hard for Trump to pressure the EU to weaken laws regulating online speech and data management. They also opposed national digital taxes. So far von der Leyen has refused to compromise on those issues. 'Some in the commission's trade directorate viewed this as a classical trade dispute and were pushing for retaliation, but von der Leyen had to consider the bigger picture which drove her caution and risk aversion,' said Mujtaba Rahman, Europe managing director at Eurasia Group, the risk consultancy. After Trump rebuffed the deal hatched by his own officials, the commission's negotiating team concluded they had no option but to accept a US tariff of 15 per cent. They pitched the number to member state ambassadors this week. Officials will try to present it as a status quo deal, since the 15 per cent theoretically includes the pre-existing average US tariff of 4.8 per cent. In fact, on a trade weighted basis, the pre-existing US tariff on imports from the EU was only 1.6 per cent. There is no hiding the fact the EU was rolled over by the Trump juggernaut, said one ambassador. 'Trump worked out exactly where our pain threshold is.' – Copyright The Financial Times Limited 2025

Irish Times
42 minutes ago
- Irish Times
EU-US tariffs deal dominates news front pages
The front pages of European and US newspapers are this morning dominated by the deal reached between the EU and United States on tariffs on Sunday. The two blocs have agreed a deal that will lock in tariffs of 15 per cent on most EU imports to the US, but prevent the prospect of an economically devastating trade war. The final terms of the deal were worked out during a meeting between European Commission president Ursula von der Leyen and US president Donald Trump at his Turnberry golf resort in Scotland. The headline on the front page of the New York Times states: 'US and Europe find agreement on a 15 per cent tariff'. READ MORE 'Altogether, while it was clear that major details still needed to be hammered out, the framework seemed likely to permanently reshape the trading relationship between two of the world's largest and most interconnected economies,' the front page piece says. The Washington Post's lead story explains how both leaders 'sought to paint the accord as the 'biggest deal ever made' but it was unclear if they were on the same page about how steel and other critical products would be affected'. The New York Post features a large picture of EU president von der Leyen and US president Trump shaking hands with the headline 'EU got a deal!'. The picture of the two leaders shaking hands dominates the front of the Financial Times also, with its headline 'Brussels accepts 15 per cent US tariffs to fix 'unfair' trade relations, says Trump'. Spanish newspaper El País leads with the headline 'The European Union gives in to Trump and accepts tariffs of 15 per cent'. French newspaper Le Figaro goes with: 'Europe reaches agreement with Trump at the last minute'. Belgian newspaper De Morgen states that 'an all-out trade war between the EU and the US has been averted'. The Times UK and Scotsman focus instead on Mr Trump's meeting with UK prime Keir Starmer later on Monday. 'Starmer to press Trump on Gaza', the front page of the Times states, while the Scotsman says 'Starmer heads to Turnberry talks as Trump holds court'. Back home, the deal features across the front pages of The Irish Times, the Irish Independent, the Irish Examiner and the Irish Daily Mail. The Irish Sun's front page is taken up with a picture of Ms von der Leyen and Mr Trump shaking hands with the headline 'Putt it there!' accompanied by a smaller image of Mr Trump golfing on Sunday.