7 h. ago Ending the war in Ukraine has more support than ever. So why is peace still not in sight? | Gwendolyn Sasse

The Paris declaration by the ‘coalition of the willing’ supports a nonexistent ceasefire that remains at the mercy of Russian intransigenceGwendolyn Sasse is director of the Centre for East European and International StudiesAn end to Russia’s war against Ukraine is still not in sight. The frequency of high-level meetings of Ukrainian, US and European representatives in recent weeks, as well as the intermittent US-Russia exchanges, have not changed this fundamental reality. There is no ceasefire in place, European and US military support is not confirmed and, most importantly, Russia does not want the war to end.The latest talks in Paris managed to bring 35 countries of the “coalition of the willing” together. The core objective was to advance the principle, and implementation, of security guarantees for a future ceasefire. The participation of the US alongside European leaders and a wider coalition of partners was noteworthy. However, the actual result remains vague.Gwendolyn Sasse ...

Events

28 h. ago Why Russia’s economy is unlikely to collapse even if oil prices fall

Hopes that tougher sanctions and lower oil prices could derail Putin’s war effort underestimate how far the Kremlin has rewired its economyPacing inside the Kremlin last weekend, as news feeds churned out minute-by-minute reports of Donald’s Trump’s Venezuelan coup, Vladimir Putin may have been wondering what it would mean for the price of oil.Crude oil has lubricated the Russian economy for decades – far more than gas exports to Europe – and so the threat of falling oil prices, prompted by US plans for control of Venezuela’s rigs, will have been a source of concern. Continue reading...

Economics

28 h. ago Why Russia’s economy is unlikely to collapse even if oil prices fall | Phillip Inman

Hopes that tougher sanctions and lower oil prices could derail Putin’s war effort underestimate how far the Kremlin has rewired its economyPacing inside the Kremlin last weekend, as news feeds churned out minute-by-minute reports of Donald’s Trump’s Venezuelan coup, Vladimir Putin may have been wondering what it would mean for the price of oil.Crude oil has lubricated the Russian economy for decades – far more than gas exports to Europe – and so the threat of falling oil prices, prompted by US plans for control of Venezuela’s rigs, will have been a source of concern. Continue reading...

Economics

47 h. ago Drivers kick off 2026 with lowest gas prices in nearly five years

“Crude oil prices remain relatively unchanged from the end of 2025 and unaffected amid questions about Venezuela’s impact on the oil market,” AAA said

Politics

58 h. ago Trump claims prices are ‘way down’ in rant on economy: ‘We’ve done a great job on the word affordability’

Donald Trump’s claims about bringing down prices comes just weeks after he told families to limit the number of presents that they buy for their children

Politics

3 d. ago FTSE 100 Live 08 January: Primark owner slides on guidance cut, M&S and BAE Systems rally

Retail giants Primark, Tesco and Marks & Spencer today revealed mixed fortunes on Christmas trading.

Politics

3 d. ago FTSE 100 Live 08 January: Primark warning, Tesco shares fall despite festive upgrade

Retail giants Primark, Tesco and Marks & Spencer today revealed mixed fortunes on Christmas trading.

Events

3 d. ago FTSE 100 Live 08 January: Primark warning, Tesco and M&S issue festive updates

Retail giants Primark, Tesco and Marks & Spencer today revealed mixed fortunes on Christmas trading.

Events

4 d. ago Oil prices drop as Trump vows to seize up to 50 million barrels of Venezuelan crude

Brent crude dropped below $60 a barrel after the US leader said Venezuela would turn over oil worth close to £1.5bn

Politics

4 d. ago Oil prices fall after Trump says Venezuela will send up to 50m barrels to US

Deal would give US president power to sell up to $3bn-worth of crude stranded in tankers and storage facilitiesBusiness live – latest updatesGlobal oil prices have fallen by more than 1% after Donald Trump said Venezuela would hand over 30m to 50m barrels of the country’s blockaded crude to the US.The deal would give the US president the power to sell up to $3bn (£2.2bn) worth of Venezuelan crude stranded in tankers and storage facilities into an already oversupplied global market. Continue reading...

Politics

4 d. ago Oil prices drop as Trump vows to seize up to 50m barrels of Venezuelan crude

Brent crude dropped below 60 US dollars a barrel after the US leader said Venezuela would turn over oil worth close to £1.5 billion.

Politics

4 d. ago Oil price falls after Trump says Venezuela will send supply to US – business live

Rolling coverage of the latest economic and financial news, as Brent crude drops back to $60 a barrelVenezuela ‘turning over’ $2bn in oil to US, Trump says, in move that could cut supply to ChinaDonald Trump’s “gunboat diplomacy” in Venezuela shows that securing access to critical natural resources such as oil is now a key priority for Washington, say analysts at Unicredit.They point out, in a note to clients, that the toppling of Venezuelan President Nicolás Maduro marked a decisive break with the rules‑based international order, ushering in a more assertive, America‑First form of hegemony across the western hemisphere.Given that China was the main buyer of smuggled Venezuelan oil and is Caracas’s principal creditor, the move is clearly intended to send a strong signal to Beijing, which has ambitious plans in South America, particularly in resource‑rich countries such as Peru.In 2023, China and Venezuela formalised an “all‑weather strategic partnership”. Beijing also used oil trade...

Politics

4 d. ago FTSE 100 Live 07 January: Index record run on hold, oil price under pressure

The new year rally of the FTSE 100 index has softened following last night’s latest record close.

Events

4 d. ago Asian shares trade mixed after Wall Street hits records on tech gains

Asian shares are trading mixed, calming down somewhat from the buzz set off by recent record rallies on Wall Street, while investors' attention turned to global interest rates and the political uncertainty caused by developments in Venezuela

Events

4 d. ago Venezuela ‘turning over’ $2bn in oil to US, Trump says, in move that could cut supply to China

Deal indicates Venezuelan government is responding to Trump’s demand that they open up to US oil companies or risk more military interventionDonald Trump has said Venezuela will be “turning over” $2bn worth of Venezuelan crude to the United States, a flagship negotiation that would divert supplies from China while helping Venezuela avoid deeper oil production cuts.“This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States!” Trump said in a post online. Continue reading...

Politics

4 d. ago Donald Trump says Venezuela to turn over '50 million barrels' of oil to US as he takes control

Trump said the 30 and 50 million barrels of oil will be sold at its market price and that he will control the money, which he said will be used to benefit the people of both countries

Politics

4 d. ago Venezuela ‘turning over’ up to 50m barrels of oil to the US, Trump says

The president’s announcement comes as Venezuela seeks to avoid deep cuts in output amid an ongoing blockade on exports imposed by the USDonald Trump has said Venezuela will be “turning over” 30 to 50m barrels of sanctioned oil to the US, as the South American country seeks to avoid deep cuts in output amid an ongoing blockade on exports imposed by Washington since mid-December.“This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States!” Trump said in a post online. Continue reading...

Politics

5 d. ago The Guardian view on Trump’s raid in Caracas: oil matters, but it’s not the whole story | Editorial

The seizure of Venezuelan leader was induced by the prize of petroleum, but driven by spectacle, geopolitics and domestic politicsIt’s all about oil. That was the reason Nicolás Maduro, the Venezuelan leader illegally abducted by US forces at the weekend, had given for Donald Trump’s fixation with his country. A better way to think about Venezuela is that oil was necessary but not sufficient. The presence of vast reserves made Mr Trump’s interest understandable – if Venezuela’s main export was bananas this would not have happened. But oil alone cannot explain the timing or scale of the move.Venezuelan crude is extra-heavy as well as expensive and slow to bring online; it will not immediately transform US energy systems, nor rescue refineries that have already adapted to years without it. Instead, oil is the “prize” around which other agendas cohere. These include future profits for US firms; modest downward pressure on oil prices; depriving China of a meaningful ally in Am...

Politics

5 d. ago Mystery trader earns huge payout after betting on removal of Nicolas Maduro

The news also prompted a rise in major stock indexes and oil prices

Politics

5 d. ago Asian shares and US futures advance and oil prices fall back

Asian shares and U.S. futures have advanced after stocks closed higher on Wall Street

Politics