Macron Announces €6.5 Billion in Additional Military Spending Amid Rising European Security Threats - Jordan News
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Jordan News
13 hours ago
- Jordan News
Oil Prices Drop Following Trump's 50-Day Deadline for Russia - Jordan News
Oil prices fell on Tuesday after U.S. President Donald Trump's relatively long 50-day deadline for Russia to end the war in Ukraine and avoid sanctions eased immediate concerns over supply disruptions. اضافة اعلان Brent crude for August delivery dropped by 12 cents, or 0.2%, to $69.09 per barrel as of 06:10 GMT (Reuters), while U.S. West Texas Intermediate (WTI) for September delivery fell 16 cents, also 0.2%, to $66.82 per barrel. Both contracts closed more than a dollar lower than in the previous session. Priyanka Sachdeva, senior analyst at Phillip Nova, commented: "Trump's lenient stance on Russian oil sanctions has alleviated supply shortage fears, even as his tariff strategy continues to exert growing economic pressure." Oil prices had initially surged on expectations of sanctions, but they later gave up gains after the 50-day extension, raising hopes the sanctions might be avoided. Traders shifted focus to whether the U.S. would actually impose high tariffs on countries continuing to trade with Russia. Should Trump follow through on the proposed sanctions, 'It would drastically alter the oil market outlook,' according to analysts at ING Bank in a Tuesday note. The note also stated: 'China, India, and Turkey — the top importers of Russian crude — would need to weigh the benefits of discounted oil against the cost of their exports to the U.S.' On Monday, Trump announced new weapons for Ukraine, and on Saturday he said he would impose a 30% tariff on most imports from the EU and Mexico, effective August 1, adding to earlier threats aimed at other countries. These tariffs could slow global economic growth, potentially reducing fuel demand and pushing oil prices lower. Tuesday's data also showed a slowdown in China's economy in Q2, as markets brace for a weaker second half due to falling exports, declining prices, and waning investor confidence. Tony Sycamore, analyst at IG, noted: 'China's economic growth beat expectations largely due to strong fiscal support and front-loading of exports to the U.S. to avoid incoming tariffs.' 'Today's weak Chinese data directly affects commodities like iron ore and oil.' Meanwhile, the OPEC Secretary-General stated that oil demand will remain 'very strong' during Q3, helping maintain near-term market balance, according to Russian media (Reuters).
Ammon
15 hours ago
- Ammon
Russia's FM meets with China's President Xi
Ammon News - Russia's Foreign Minister Sergei Lavrov met with Chinese President Xi Jinping, the spokeswoman of the Russian foreign ministry said on Tuesday. Lavrov is visiting China for a foreign ministers meeting of the Shanghai Cooperation Organization (SCO). "Lavrov conveyed to the Chinese leader a friendly greeting and best wishes from the President of the Russian Federation Vladimir Putin," the Russian ministry said in a statement on its website. "The two sides discussed a number of issues concerning bilateral political contacts ... including preparations for the Russian President's upcoming visit to the People's Republic of China." The Russian president will travel to China to attend the Shanghai Cooperation Organization summit, hold talks with Xi Jinping and join ceremonies on September 3 marking the anniversary of the victory over Japan in World War II. Reuters
Ammon
15 hours ago
- Ammon
Trump says he is 'not done' with Putin
Ammon News - U.S. President Donald Trump said he was "not done" with Russian President Vladimir Putin, according to a BBC interview published on Tuesday, hours after he said he was disappointed in Putin and threatened Moscow with sanctions. Trump told the BBC he thought a Ukraine deal was on the cards with Russia four different times. Asked then by the BBC was he done with Putin, Trump said: "I'm disappointed in him , but I'm not done with him. But I'm disappointed in him". Pressed on how Trump would get Putin to "stop the bloodshed" the U.S. president said: "We're working it". "We'll have a great conversation. I'll say: 'That's good, I'll think we're close to getting it done,' and then he'll knock down a building in Kyiv," Trump told the BBC. Trump announced new weapons for Ukraine on Monday and threatened sanctions on buyers of Russian exports, with a 50-day grace period, unless Russia agreed to a peace deal, a major policy shift brought on by frustration with Moscow's ongoing attacks on its neighbor. He told reporters on Monday that billions of dollars of U.S. weapons, including the Patriot air defence missiles, will be sent to Ukraine via NATO and that NATO would pay for them. In the BBC interview, Trump expressed renewed support for the NATO alliance. "I think NATO is now becoming the opposite of that (obsolete) because the alliance was "paying their own bills", he told the BBC.
