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Article summaries

1. 1

   EU deals new blow to Russia as sanctions on aluminium and Shadow Fleet approved

   The European Union approved a fresh round of sanctions against Russia on Wednesday, aiming to sustain pressure on Moscow.

   In a unanimous decision, European foreign ministers enforced a ban on purchasing Russian aluminum and introduced further restrictions targeting Vladimir Putin's covert fleet, which facilitates the global transport and sale of Russian oil through maritime channels.

2. 2

   Asian markets sink as Trump tariffs, China curbs stunt rally

   Asian markets tumbled on Tuesday as concerns resurfaced over former U.S. President Donald Trump's trade policies, following his call for new restrictions on Chinese investments in key sectors such as technology.

   The downturn came after a broadly negative session on Wall Street, where major tech firms faced setbacks after China’s DeepSeek introduced a chatbot that disrupted the AI sector, prompting investors to rethink their recent large-scale investments.

   Trump’s announcement followed his signing of a weekend memo advocating tighter controls on Chinese investments in industries like technology and critical infrastructure, as well as an expanded role for a key committee overseeing foreign investments in the U.S.

   In response, China criticized the U.S. approach, stating " it unfairly broadens the definition of national security and is discriminatory." These tensions between the two economic powerhouses have fueled fears of a renewed trade war, adding to uncertainty about the global economic landscape.

3. 3

   Citigroup eyes US$500 billion in outbound investments from China and East Asia

   Chinese, Taiwanese, and South Korean companies are set to invest nearly $500 billion abroad over the next five years, with a strong emphasis on transformative industries amid escalating geopolitical tensions, according to senior executives at Citigroup.

   Firms from China and Taiwan alone are expected to allocate close to $300 billion in overseas capital expenditures, while South Korean companies will contribute around $200 billion. These investments will primarily target sectors such as technology, artificial intelligence, electric vehicles (EVs), and healthcare.

   Kaleem Rizvi, Citigroup’s head of corporate banking for Japan, North Asia, and Australia, emphasized the need for a global approach to navigate economic volatility and geopolitical pressures. "Despite ongoing challenges, we continue to see significant opportunities. In times of heightened uncertainty, businesses must build flexibility into their strategies," he stated.

4. 4

   Russia makes billions despite sanctions

   Despite sanctions imposed since the war began in February 2022, Moscow has generated €242 billion from oil and fossil fuel exports.

   A report by the Centre for Research on Energy and Clean Air and the B4Ukraine group reveals that Russia has accumulated a staggering €847 billion from fossil fuel sales since 2022. The findings, based on data from Kpler, a global trade intelligence firm specializing in shipping markets, were shared exclusively with Newsweek.

   Even with new sanctions in place, Russia continues to sustain high revenue levels, largely due to its shadow fleet, which operates globally to discreetly transport and sell oil.