logo
Ukraine left in lurch as Trump rushes out of G7 without meeting Zelenskyy

Ukraine left in lurch as Trump rushes out of G7 without meeting Zelenskyy

Yahoo7 hours ago

Ukrainian diplomats have been left frustrated – and in some cases embittered – at Donald Trump's refusal to make Ukraine a priority after Volodymyr Zelenskyy flew 5,000 miles to the G7 conference in Canada only for the US president to return home the night before the two leaders were due to meet. Trump said he needed to focus on the Israel-Iran conflict.
In a further blow for Kyiv the US vetoed a joint statement on Ukraine from the summit, on the grounds that the wording was too anti-Russian and could compromise negotiations with Vladimir Putin.
Instead, some of the language around the war will be included in Canadian prime minister Mark Carney's 'chair's statement'.
Some Ukrainian officials said they were not sure now if it will be worth Zelenskyy attending the Nato summit in The Hague next week since there was no guarantee that Trump would attend.
One said: 'It is an permanent hazard that Ukraine is a victim of events and Trump's short attention span. Vladimir Putin knows that, which may be why there was such a large attack in Ukraine last night. There had been all sorts of promises for this summit – including new US arms deliveries being offered.' Ukraine was proposing to buy US weapons including new air defences, so getting round the Trump complaint that Ukraine is a drain on the US budget.
Related: Trump leaves Europe in the cold in the Rocky Mountains, and Iran with a stark choice
The German chancellor, Friedrich Merz, said Trump had promised to attend the Nato summit.
With the US chair at the G7 summit removed, Zelenskyy instead sat down with the other members of the group at a special session dedicated to Ukraine, but the central purpose of the session – to try to enlist Trump's support to put pressure on Putin to agree a ceasefire – had been nullified by the US president's abrupt departure announced to fellow G7 leaders in the afternoon. Zelenskyy was also due to have a one to one meeting with Trump.
The sense of upset, impossible for Ukraine to express in public due to the need to retain Trump's support, was intensified by the fact that Zelenskyy was being relayed news of Russia's massive attack across Ukraine as he flew by plane to the meeting in Canada.
As he met the G7 host, Canada's Mark Carney, Zelenskyy made no direct reference to Trump's decision to absent himself. Looking downbeat, he said: 'We need the help of our allies to for our soldiers to stay strong until Russia is ready for peace negotiations.'
He stressed: 'We are ready for an unconditional ceasefire.'
Zelenskyy had billed that the G7 summit as one of two golden chances to apply collective western pressure on Trump, and to discuss Ukraine's plans to buy as much as $30bn to $50bn worth of air defense systems and weapons from the United States as a form of security guarantees.
There had been signals that the US was willing to sell the arms to Ukraine, but Trump – who spoke again to Putin this week – sometimes argues that providing Ukraine with arms will only prolong a war he is committed to ending.
Zelenskyy had also been seeking US agreement to a cut in the oil cap from $60 a barrel to $45 in a bid to cut Russian oil revenues. The oil price cap requiring complex enforcement was introduced by G7 nations and it would need at least tacit US support for it to be instituted effectively.
Although there has been a recent spike in the price of oil due to the Iranian crisis, the debate around lowering the price cap had become centre stage due to the slow fall in the price of oil. The European Commission president, Ursula von der Leyen, acknowledged the immediate pressure to lower the cap had been reduced.
In discussions at the summit, Trump on Monday expressed reluctance to impose any further sanctions, saying Europeans should 'do it first' and that 'sanctions cost us a lot of money, billions and billions of dollars'.
Keir Starmer meanwhile pushed for allies to tighten the oil price cap on Russia and announced sanctions on 20 Russian oil tankers as well as new measures targeting companies managing the vessels, Downing Street said on Tuesday.
Speaking to reporters on the sidelines of the G7 summit in Canada, the British prime minister said he 'strongly' believed that restrictions on the price of Russian crude oil should be strengthened to deplete its energy revenues.
Related: Russian missile and drone attack on Kyiv kills at least 15 people
On the way to the G7, Zelenskyy had visited Austria to recruit the country as another potential mediator in the conflict with Russia. Austria has strong ties with Russia, and is seen by some Ukrainian leaders as a more trustworthy intermediary than Turkey, which has much to gain commercially from a peace settlement.
Speaking in Brussels, the EU foreign affairs chief, Kaja Kallas, addressed the latest Russian attacks, saying: 'Russia remains unrelenting in its attacks, targeting civilians and prolonging its war. This is yet another sign: Russia is just not interested in peace, so we must keep up the pressure.'
The EU is close to agreeing an 18th package of sanctions that will include a ban on the importation of Russian oil refined by third-party countries and then exported to Europe. The EU plan intends to designate oil as Russian and therefore banned unless the importer has clear documentation demonstrating it has originated elsewhere. Countries will also have to publish new 'diversification plans' showing how they will end reliance on both Russian oil and gas.
Kallas is convinced that although sanctions have taken longer than expected to have an impact, a corner has been turned.
She said last week: 'Russia has lost tens of billions in oil revenues. Its economy is shrinking, and its GDP has dropped.' Sanctioning the 'shadow fleet' [of unflagged Russian tankers] has been particularly impactful: after our last sanctions package, the 17th sanctions package, the oil exports from Russia via the Black Sea and Baltic Sea routes declined by 30% in a week.
'Only in the month of May, Russia's sovereign wealth fund declined by $6bn, from $42bn to $36bn, and it could run out of money by next year. By cutting off revenue streams, we prevent them from refilling their war chest'.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Donald Trump's Old Tweet Mocking Obama On Iran Comes Back To Haunt Him
Donald Trump's Old Tweet Mocking Obama On Iran Comes Back To Haunt Him

Yahoo

time32 minutes ago

  • Yahoo

Donald Trump's Old Tweet Mocking Obama On Iran Comes Back To Haunt Him

Another old tweet from Donald Trump has gone viral again, but for the wrong reasons. As the president continued to ramp up his rhetoric against Iran, critics pointed to a November 2013 social media post where Trump accused then-President Barack Obama of planning to attack Iran. Remember that I predicted a long time ago that President Obama will attack Iran because of his inability to negotiate properly-not skilled! — Donald J. Trump (@realDonaldTrump) November 11, 2013 'Remember that I predicted a long time ago that President Obama will attack Iran because of his inability to negotiate properly—not skilled!' Trump wrote, when he was still a reality TV personality. The resurfaced tweet sparked comments about irony, given Trump's recent saber-rattling against Tehran. What is it you said again???? — Martina Navratilova (@Martina) June 17, 2025 There's always a tweet. — Ron Filipkowski (@RonFilipkowski) June 17, 2025 Remember that I predicted a long time ago that President Trump will attack Iran because of his inability to negotiate properly-not skilled! — Mario Callous, x grinder & amusements editor (@idonevenknowho) June 17, 2025 Always — Mason (@masonisonx) June 17, 2025 Guess who tweeted this back in 2013? 🤣'Remember that I predicted a long time ago that President Obama will attack Iran because of his inability to negotiate properly-not skilled!'8:55 PM • 11/10/13 — News Watcher (@testbotnews) June 17, 2025 In Trumpworld, projection isn't a defense mechanism—it's a prophecy. — MC Debris (@emceedebris) June 17, 2025 'Atrocious': Eric Trump Slammed For 'Disgusting' Use Of Offensive Slur In Interview 'Good F**king Gawd!': Trump Ripped As Putin's PR Guy After G7 Whine 'Like A Monty Python Skit': Trump's UK Trade Deal Moment Gets Super Weird In A Hurry

China Reacts to Trump Khamenei Threat
China Reacts to Trump Khamenei Threat

Newsweek

time42 minutes ago

  • Newsweek

China Reacts to Trump Khamenei Threat

Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. China urged the U.S. to use its "special influence" over Israel to ease the conflict with Iran and not to expand it further, after U.S. President Donald Trump put Tehran on notice with a demand of unconditional surrender on the nuclear issue. Trump also warned Iranian Supreme Leader Ali Khamenei that the U.S. knows where he is hiding and he is an "easy target," though safe "for now". Trump added on his Truth Social platform: "Our patience is wearing thin." At a regular press briefing, a spokesman for the Chinese Ministry of Foreign Affairs was asked for Beijing's response to Trump's remarks about Khameini and Iran. "China is deeply concerned about the developments of the current situation," Lin Jian said. "We oppose any acts that violate the purposes and principles of the UN Charter, [and] violate other countries' sovereignty, security, and territorial integrity. "The escalation of the situation in the Middle East serves no one's interest. "Countries that have special influence over Israel should take objective and just positions, shoulder their due responsibilities, and play an active and constructive role in easing the situation, and avoiding the expansion of the conflict." This is a breaking news story. Updates to follow.

What the Iran/Israel conflict means for U.S. energy prices going forward
What the Iran/Israel conflict means for U.S. energy prices going forward

Yahoo

timean hour ago

  • Yahoo

What the Iran/Israel conflict means for U.S. energy prices going forward

Crude oil prices, maybe surprisingly, dipped modestly on Monday after spiking at the end of last week, even as Iran and Israel continue firing missiles at each other with no easy end in sight. The U.S. oil benchmark hovered around $71 per barrel on June 16—about where it started the year—but up roughly 9% from a week prior. The current price tag is considered a relatively healthy value—profitable for most oil producers without creating particularly high fuel prices. So, even though Israel successfully targeted some of Iran's oil and gas infrastructure over the weekend, oil markets have stayed relatively calm, and Iran, which is not in a position of strength, is reportedly signaling its interest in returning to nuclear negotiations with the U.S. Why? Here are four takeaways: Israel struck Iran's South Pars gas field, the Shahran fuel depot, and the Shahr Rey oil refinery, but all of these targets are for domestic fuel and power consumption, and not global exports. That contributed to a run on fuel and potential shortages within Iran, but it has much less impact on global oil markets and Iran's roughly 1.5 million barrels per day of crude oil exports. 'Everybody is taking a hands-off approach to oil [exporting] infrastructure because it meaningfully complicates and escalates the situation,' said energy forecaster Dan Pickering, founder and chief and investment officer for Pickering Energy Partners consulting and research firm. 'Israel doesn't want to do that, and I don't think Iran does either.' On the other hand, Pickering told Fortune. 'You're one stray bomb away from a problem. If you get to a point where people stop acting rationally, things get crazy quickly.' That's why the range of outcomes is vast from $55 per barrel oil if things calm down—a low price that hurts the bottom lines of oil producers—up to $120 or so if war escalates and overall OPEC production is impacted, Pickering said. Iran sits next to the Strait of Hormuz, and the exports through that relatively narrow body of water account for about 20 million barrels daily, or one-fifth of global consumption. Impacting those flows changes everything. To be clear, oil at or above $120 per barrel is bad for almost everyone because skyrocketing fuel costs would trigger widespread demand destruction around the world. The so-called OPEC+ group increased their monthly quotas, essentially aiming to grow production by more than 2 million barrels daily by the end of the year, and undoing years of self-imposed curtailments. While the decision didn't necessarily anticipate a conflict in Iran, the OPEC's move did give President Trump more leverage in the U.S. nuclear negotiations with Iran. 'If anything in this situation could be called elegant, it is a relatively elegant set up when dealing with the risk of problems in the Middle East,' Pickering said of OPEC's moves. 'It looks like the return of production pretty closely mirrors Iran's exports, and so it was probably more geared toward a reduction of exports [through sanctions] as opposed to a conflict.' Kathleen Brooks, research director the the XTB brokerage house, highlighted how Trump wants to keep oil and fuel prices low, and that the White House could actually have a 'calming effect' on markets. 'Instead, we think that U.S. involvement could see the [Israeli] attacks on Iran narrow to nuclear sites, after Israel said that it gathered intelligence that Iran had enough uranium to make nine atomic bombs,' Brooks added. However, the math is changed with any prolonged war. 'With Israel and Iran trading attacks, oil prices have surged to multi-month highs—setting the stage for additional price hikes at gas pumps across the country,' said Patrick De Haan, head of petroleum analysis at GasBuddy. 'As long as tensions in the Middle East continue to escalate, the risk of further impacts on oil prices remains high.' De Haan projects fuel prices could rise by 10 to 20 cents per gallon moving forward. 'Motorists should prepare for what will likely be modest price increases—for now—but the situation has the potential to worsen at any moment.' Thus far, the national average price of gasoline has risen 1.1 cents per gallon in the last week, averaging $3.08 per gallon as of the morning of June 16, according to GasBuddy. However, the national average is down 9.5 cents from a month ago and 32.7 cents lower than a year ago. As Pickering said, '[Iran] is on the naughty list, but their sanctions haven't been particularly aggressively applied because the world is so focused on oil prices and the impact on inflation and economies. The developed world has decided that cheap gasoline prices are better than truly punishing bad actors.' U.S. oil drillers were showing restraint and capital discipline—and not the 'drill, baby, drill' mentality—last year even when prices were a bit higher than today. 'The volatility is dramatic, OPEC is adding supply, and it's not a given that Iran is going to reduce supply,' Pickering said. 'So, why step up and spend capital speculatively when we could wake up in a month and oil is back to $55?' So, how should everything in the Middle East be viewed from the energy perspective? 'This is a conflict that could have meaningful impacts, so people should be paying attention,' Pickering concluded. 'Right now, it looks like an inconvenience with a potentially temporary price spike. It could become much worse, so pay attention and cross your fingers it doesn't escalate.' This story was originally featured on Sign in to access your portfolio

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store