Africa
South Africa and Germany Discuss Economy, Energy and G20 Tensions
Germany's foreign minister met South Africa's foreign minister in Pretoria during a continental tour that also included Nigeria.
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Africa
Brazil
Brazil Says 2,000 Products Are Exempt From Latest US Tariffs
Brazil said about 2,000 products exported to the United States will be exempt from the latest US tariffs, including coffee and orange juice.
Latin America
Mexico Says New U.S. Tariffs Will Not Change Its Effective Trade Treatment
Mexico's economy minister said the country's effective tariff exposure to the United States will remain unchanged, arguing that USMCA-compliant exports will continue to move duty-free while new U.S. measures replace expiring duties on a limited share of goods.
Middle East
Saudi Arabia tells UN that Houthi blockade claims are false and ship attacks amount to piracy
Saudi Arabia used a UN Security Council session to reject Houthi claims of a blockade on Yemeni ports and airports, calling the narrative misinformation and warning that attacks on commercial shipping threaten freedom of navigation in the Red Sea.
Europe
EU expands sanctions on Russian energy, finance and crypto networks
The European Union adopted a 21st sanctions package against Russia, widening restrictions across banking, crypto services, oil revenues, the shadow fleet, military supply chains and trade channels linked to Moscow's war economy.
Russia
US Sets 12.5 Percent Tariff Rate on Russian Imports
The United States has set a 12.5 percent tariff rate on Russian goods under a new trade action that covers 60 trade partners and replaces a temporary global tariff framework introduced in February.
United States
Trump Moves to Replace Temporary Tariffs With New Duties on 60 Trading Partners
The United States plans to impose new 10% to 12.5% tariffs on imports from 60 countries, shifting from temporary worldwide levies to a trade-law framework tied to enforcement of forced-labor restrictions.
China
China Warns Philippines as Maritime Tensions Put Ties at a Crossroads
Chinese Foreign Minister Wang Yi said relations with the Philippines have reached a crossroads, urging Manila to make what Beijing described as rational choices after a new confrontation near Ren'ai Jiao.
Asia
Japan's Russian Oil Purchases Highlight a Narrow Energy Exception
Japan imported about 1.53 million barrels of Russian oil in May and June at an average price near $103 per barrel, underscoring how limited Sakhalin-linked shipments remain part of Tokyo's energy balance despite sanctions pressure.
India
India Presses China on Fair Trade and Supply Chain Reliability
India's foreign minister used a meeting with Wang Yi in Manila to place trade balance, market access and supply chain predictability at the center of a cautious effort to normalize ties with China.
Russia
EU Moves Forward With New Russia Sanctions and Extended Oil Price Cap
European Union governments reached a political agreement on a new sanctions package against Russia, extending the oil price cap for 12 months and adding restrictions aimed at banks, crypto platforms, oil trading channels and supply networks linked to Moscow's war effort.
Middle East
Fincantieri Expands Qatar Role With Navy Training Center Contract
Fincantieri will operate the Qatar Emiri Naval Forces' Training and Simulation Centre under a three-year agreement, extending its presence in the Gulf country from shipbuilding into long-term naval training and knowledge transfer.