
EU and Japan agree on closer cooperation
Closer cooperation has become even more important against the backdrop of a "complex global geopolitical environment, in particular Russia's war of aggression against Ukraine, the serious challenges to a free and open Indo-Pacific, and other regional and international issues", the declaration continued. The EU and Japan are determined "to work with like-minded international partners to address these challenges". This article was translated to English using an AI tool.
FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@fashionunited.com
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Reuters
10 minutes ago
- Reuters
Exclusive: Shippers ask to end contracts with Russian-backed refiner Nayara, sources say
NEW DELHI, July 29 (Reuters) - The owners of three vessels chartered by India's Nayara Energy have asked to end their contracts with company, six sources familiar with the matter said on Tuesday, under pressure from EU sanctions imposed on the Russian-owned refiner. Nayara, majority-owned by Russian entities including oil major Rosneft ( opens new tab, runs India's third-biggest refinery and exports refined products and also supplies them domestically. Fresh European Union sanctions unveiled on July 18 that target Russia and its energy sector over Moscow's war in Ukraine, have been increasingly disruptive to Nayara. Reuters earlier reported it has been forced to reduce operations at its 400,000-barrels-per-day refinery due to fuel storage constraints. India-based Seven Islands Shipping Ltd ( opens new tab and Great Eastern Shipping Co ( opens new tab (GESCO) have asked Nayara to release the three clean products tankers from their contracts, citing concerns over the sanctions, five of the sources told Reuters. Seven Islands is seeking the release of its medium-range vessels Bourbon and Courage, while GESCO has sought the return of the Jag Pooja, the sources said. The sources declined to be named as they were not authorised to speak to the media. Mumbai-based Nayara did not immediately respond to a Reuters request for comment. It has previously criticised the EU sanctions, calling them "unjust and unilateral". Seven Islands and GESCO did not immediately respond to requests for comment. Bourbon is anchored near Vadinar port in western India, where Nayara's refinery is based, while Courage and Jag Pooja are floating off Kochi and Ennore ports, respectively, data from analytics firm Kpler showed. Another tanker, Sanmar Songbird, chartered by Indian state refiner Hindustan Petroleum Corp ( opens new tab, was scheduled to load gasoline from Nayara on Tuesday, according to three sources and LSEG data. But it has since been diverted to load from Mangalore Refinery and Petrochemicals Ltd ( opens new tab, sources said. The diversion was due to the sanctions and the lack of available insurance cover for the voyage, they said. HPCL and Sanmar did not immediately respond to requests for comment. India has become the biggest importer of Russian seaborne crude since Moscow launched its full-scale invasion of Ukraine in early 2022. Last week, Reuters reported that a tanker carrying Russian Urals crude was diverted from Nayara's Vadinar port following the EU sanctions announcement, while two other tankers skipped loading refined products there. Nayara's CEO resigned in the wake of the new sanctions, and the company filed a court case in India against Microsoft (MSFT.O), opens new tab after the U.S. software giant suspended services to the firm.


Economist
13 minutes ago
- Economist
Blighty: Why Corbyn's comeback matters
Summer fetes show there is still hope for the English village Crime has become more complex. The police have not kept up Our survey finds that Britons are pessimistic about the country's cohesion The police are better; the politicians are worse The LIBOR saga reflects badly on the courts Compromise rarely leads to contentment. But it nearly always leads to costs


Reuters
13 minutes ago
- Reuters
Oil prices rise 1% on trade war relief, US pressure on Russia
NEW YORK, July 29 (Reuters) - Oil prices rose on Tuesday, extending the previous day's rally, on optimism that a trade war between the United States and its major trading partners was abating and as President Donald Trump ramped up pressure on Russia over its war in Ukraine. Brent crude futures were up 95 cents, or 1.36%, at $70.99 a barrel at 12 p.m. EDT (1600 GMT), having touched their highest since June 23, while U.S. West Texas Intermediate crude was at $67.70, up 99 cents, or 1.48%. Both contracts settled more than 2% higher in the previous session. The trade agreement between the United States and the European Union, while imposing a 15% import tariff on most EU goods, sidestepped a full-blown trade war between the two major allies that would have rippled across nearly a third of global trade and dimmed the outlook for fuel demand. "There is definitely some optimism around the trade deals," said Bob Yawger, director of energy futures at Mizuho. "It's not perfect, especially for the Europeans, but it is better than it could have been by a long shot." The agreement also calls for $750 billion of EU purchases of U.S. energy over the next three years, which analysts say the bloc has virtually no chance of meeting, while European companies are to invest $600 billion in the U.S. over Trump's second term. Top economic officials from the U.S. and China finished meetings in Stockholm that were aimed at resolving longstanding economic disputes and stepping back from an escalating trade war between the world's two biggest economies. Trump set a new deadline on Monday of "10 or 12 days" for Russia to make progress toward ending the war in Ukraine. Trump has threatened sanctions on both Russia and buyers of its exports unless progress is made. "Oil prices rallied after President Trump said he would shorten the deadline for Russia to come to a deal with Ukraine to end the war, raising supply concerns," ING analysts said in a note. Market participants are also waiting to hear the outcome of the U.S. Federal Open Market Committee meeting on Tuesday and Wednesday. The Fed is widely expected to hold rates but could signal a dovish tilt amid signs of cooling inflation, said Priyanka Sachdeva, senior market analyst at brokerage Phillip Nova.