EU Pres. von der Leyan on the strike by Russian forces in Kyiv that included a hit on the EU offices:
- Putin must come to the negotiating table
- We must secure a just and lasting peace for Ukraine with firm and credible security guarantees that will turn the country into a steel porcupine.
- The EU will fully play its part.
Meanwhile, Russia’s off-line primary oil refining capacity reached a record monthly high of 6.4 million tons in August. That is +65% from prior estimates. Ukraine drone attack disrupted 70% of capacity equating to roughly 1.2 million barrels per day. According to the report, fuel production is expected decline by around 5% in July.
Yesterday the Trump administration started to talk again about additional sanctions. Tariffs on India also went up to 50% from 25% as a result of their purchases of Russian oil. Officials said that the tariff rate would come down if they stopped purchasing the Russian oil.
This article was written by Greg Michalowski at investinglive.com.