Joshua Gallu

2 weeks ago | bloomberg.com | Joshua Gallu

The European Union proposed banning the Nord Stream pipelines and cutting the Group of Seven oil price cap to $45 as part of a new sanctions package that aims to increase pressure on Moscow to end its war against Ukraine. Lowering the oil price cap will require backing from the US. The price threshold, which bans G-7 service providers from transporting and dealing with crude sold above the cap, is currently set at $60. G-7 leaders will meet in Canada later this month.

3 weeks ago | bloomberg.com | Joshua Gallu

An electric vehicle charges in Bingen, Germany. (Bloomberg) -- Germany’s plan to spur businesses to purchase electric vehicles is unlikely to provide a noticeable boost to the transition away from combustion engines as it’s limited to company fleets, according to an auto industry lobby group. “Overall, this is a measure that does no harm, but also does not bring about a fundamental improvement,” Thomas Peckruhn, acting president of the ZDK association, said Monday in an emailed statement.

4 weeks ago | bloomberg.com | Joshua Gallu

Global trade stumbled in April as President Donald Trump’s tariffs prompted US consumers to hit the brakes on spending. The undercurrent of anxiety among many American consumers about the economy after the weakest quarter for spending in nearly two years is hitting exporters from Europe to Asia. Tensions could worsen after Trump on Friday accused China of violating an agreement with the US to ease tariffs, ratcheting up tensions between the world’s two largest economies.

1 month ago | bloomberg.com | Joshua Gallu

The European Union has approved its latest sanctions package against Russia, targeting nearly 200 shadow fleet ships as well as addressing hybrid threats and human rights, the bloc’s top diplomat Kaja Kallas announced on Tuesday. The package includes measures targeting dozens of individuals, entities and vessels behind Russia’s shadow fleet of oil tankers, which has helped Moscow skirt the bloc’s trade and energy sanctions.

1 month ago | bloomberg.com | Joshua Gallu

US President Donald Trump announced a trade framework with the UK today to bring down barriers and expand market access for American imports. Trump hailed the agreement as a “breakthrough,” though he said the final details of the pact would still be negotiated over the coming weeks. It is the first agreement Trump has made since imposing tariffs on dozens of trading partners.