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Why does the Trump administration put pressure on Venezuelan?
Secretaries of State Marco Rubio, and Defense Pete Hegseth are holding closed briefings on Tuesday for all U.S. Senators and Representatives about the Trump Administration's Venezuela strategy. Many lawmakers are still unsure of President Donald Trump's goals, even three-and-a half months after more than 20 deadly U.S. attacks on boats near Venezuela and a massive military buildup in the Caribbean. Below, we'll take a look at a variety of issues that seem to be contributing to this pressure campaign. In October, the Trump administration told Congress that it was in an "armed conflict" against drug cartels. Maduro, who denies this, is a key player in the supply of illegal drugs to Americans. The administration has also designated Cartel de los Soles and Tren de Aragua as foreign terrorist organisations. In 2020, when Trump was still a first-term president, the U.S. Justice Department charged Maduro with narcoterrorism. Venezuela, according to U.S. statistics, is a transit country for cocaine bound for Europe or the U.S., and a haven of criminal groups who traffic drugs. However, it is not the source for fentanyl - the drug that is linked to the majority of U.S. fatal overdoses. TRUMP?MONROE DOCUMENTATION Trump released his National Security Strategy this month, arguing the U.S. must revive the Monroe Doctrine of the 19th century, which declared that the Western Hemisphere was Washington's influence zone. The strategy places the hemisphere as the number one priority of Trump's foreign policies, and uses U.S. influence to deny Beijing the access to resources like military installations and vital minerals. Maduro, who has been under U.S. strict sanctions, has signed energy and mining agreements with China as well as Iran and Russia. A pressure campaign that led to a more U.S. friendly government would boost American influence in the region. Maria Corina Machado - the Nobel Peace Prize-winning leader of Venezuela's opposition - said that she "absolutely supports" Trump's policy. Machado claimed that Trump has placed Venezuela at the top of his list for national security in the United States. She said, "We've been asking for this for years so it's finally here," on CBS's "Face the Nation". OIL Maduro said that Washington wanted Venezuela's oil. Venezuela currently sells its oil mainly to China. Venezuela has the largest oil reserves in the world. Analysts say that access to oil, which is a powerful bargaining chip when dealing with Trump who supports the fossil fuel industry, could be an important tool for Maduro. Several Western companies remain active in Venezuela, including Chevron, a U.S. company with a special licence. The country's industrial sector has lagged behind. Production is low compared to the size of the reserves. Venezuela has also been unable to attract investment or obtain the equipment and parts that it needs due to years of sanctions. Analysts predicted that Trump would be interested in Venezuela's oil reserve, but the bigger issue is the country with oil and other natural resources located in the hemisphere and closely aligned to U.S. competitors like China and Russia. "The idea that this country has?oil and minerals and rare earths, in our hemisphere, and that its main allies are China and Russia is something that doesn’t really fit Trump's world view," said David Smilde. A Venezuela expert at Tulane University. Rubio, Trump's Cuban-American Secretary of State, and other close allies have advocated tough measures against Cuban Communist government for years. They view Maduro and his government as essential to Cuban leaders Miguel Diaz-Canel, and they hope that a change in Venezuela will weaken Cuba. IMMIGRATION The Trump administration is moving to end the legal status for hundreds of thousands of Venezuelans in the United States. They are pursuing the "mass deportations" policy that propelled him to victory during his successful re-election campaign last year. According to Pew Research Center's analysis of U.S. Census Bureau statistics, the Venezuelan population in America grew from 95,000 people to 640,000 between 2000 and 2021. This was during a time when the South American nation faced political, economic, and social turmoil. Venezuelans would be less inclined to leave their homeland if the instability was reduced.
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Azerbaijan’s current account surplus for January-September falls to $3 billion
The central bank reported that Azerbaijan, a country heavily dependent on oil, saw its current-account surplus drop to $3.0 Billion, or 5.4% of gross domestic product (GDP), from $4.0 Billion in the same period last year. The bank stated that the fall in oil prices was the main reason for the decline in current account surplus. The oil and gas sector surplus decreased by 3.7% on an annual basis to $10.7 billion. Meanwhile, the non-oil & gas sector deficit increased by 7.5% to $7.7 Billion. The southern Caucasus' exports are largely based on oil and gas, which accounts for around 90% of the country's total revenue. Azerbaijan’s?foreign exchange turnover? declined to $30.8 billion from $31.5 billion one year ago in the first nine-month period of 2025. Exports dropped to $18.2 Billion from $19.3 Billion, while imports increased to $12.6 Billion from $12.3. The central bank's forecast for Azerbaijan’s current account surplus for 2026 has been reduced to $1.9 billion, from $3.7 billion that was expected at the end of this year. According to projections, based on an average oil price per barrel of $65 in 2026-2029 the surplus will decline to $1.56 billion by 2027, and $1.23 billion in 2028. The Shah Deniz Compression Project, which is the third phase in the development of Azerbaijan’s largest gasfield, will stabilize gas production and bring the surplus to $1.84 billion by 2029. (Reporting and editing by Hugh Lawson; Nailia Bagirova)
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Euro stocks drop as traders await US jobs data; dollar steady
Early trading Tuesday saw European stocks fall as traders remained cautious ahead of important U.S. employment data. The dollar also remained near its lowest level in the past two months. Investors waited for the U.S. Employment Reports for October and November due later in session. Data collection was delayed during the U.S. Government Shutdown. After the Fed's comments when it reduced rates last week were interpreted as being less hawkish that anticipated, this could affect expectations for the U.S. Federal Reserve monetary policy in the coming year. This would strengthen expectations for further rate cuts by 2026. The stock markets dropped during Asian trading. MSCI's broadest Asia-Pacific share index outside Japan fell to its lowest level in three weeks. Data showed that growth in China's manufacturing output stagnated to a low of 15 months in November. European indexes opened lower before slightly edging higher. STOXX 600, London's FTSE 100, and Germany's DAX were all down on the day at 0956 GMT. The progress in the Russia-Ukraine talks has contributed to a drop in European defence stocks. The pullback is still in context with stock markets reaching record highs by 2025. STOXX 600 is on track to gain 14.8% in 2025. The MSCI world index fell?by 0.3% for the day, but was up 19.8% over the course of the year. The U.S. jobs report is expected to show that federal cost-cutting has led to a decrease in nonfarm payrolls for October. This will be followed by an increase in job growth for November. "Either the economy accelerates or you get good numbers." You may not have a good number, and therefore expect the Federal Reserve to cut rates further," said Kevin Thozet. CENTRAL BANK METINGS, MORE DATA Investors will also be watching for U.S. Inflation data on Thursday. However, a few key details may not be available. Also, central bank meetings, including the rate decisions of the Bank of England?, the European Central Bank?, and the Bank of Japan. The U.S. Dollar Index was barely changed at 98.204. It fell by less than 0.1% for the day, and is close to multi-week highs against the euro or yen. The euro remained steady at $1.1754 after European PMI data revealed that the growth of business activity in the Euro zone was slower than expected by 2025. Lower energy prices have pushed the euro zone terms of trade (export relative to import prices) closer to the highest levels in the past four years. In a letter to clients, ING's global head of markets Chris Turner wrote: "This is a clean positive for the euro." The German 10-year bond yield was 2.8458, a slight decrease from the previous month. Data showed that the unemployment rate in Britain reached its highest level?since 2021, and the pay growth in Britain's private sector was at its lowest in five years. The UK's five-year and ten-year gilt yields rose after stronger-than-expected ?UK flash PMI data. Bitcoin was trading at $86,341.41, close to its two-week low from the previous session. Gold was near its highest level in seven weeks, boosted by the dollar's weakness and expectations of a rate cut from the United States. Oil prices dropped, falling below $60 per barrel for the very first time since months. Traders believed that a Russia-Ukraine deal was more likely. This raised expectations of sanctions being eased and more oil becoming available, which would lead to lower prices. (Reporting and editing by Sharon Singleton in Paris)
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Copper trades cautiously ahead of US data
Copper prices fell on Tuesday as traders remained cautious ahead of the U.S. employment data and year-end liquidity. The benchmark three-month 'copper price on the London Metal Exchange dropped 0.6% to?$11,592 per?metric ton at 0943 GMT. On Friday, it reached a new record high of $11,952 due to concerns about tight supply. Analysts at Sucden Financial say that with thin liquidity and no new fundamental direction, the price swings of base metals have become increasingly exaggerated. This leaves the complex vulnerable to sudden moves towards year-end. Metals used in construction and power are up 33% this year. This is the largest annual growth since 2009. The reason for this is several mine disruptions and a?outflow to U.S. stocks, as well as expectations of future demand from AI data centres and?energy transformation. Nitesh Nitesh, WisdomTree commodities analyst: "It is the supply-side issue that we see this year. We expect the surplus of this year to turn into a deficit in the market next year." He added that "demand may be muted at the moment, but the expectation is that copper will benefit from the electrification of the world." The Yangshan premium This week, the price of copper, which is a good indicator of Chinese demand for copper, has stabilised at $42, its highest level in two months. Aluminium, among other LME metals rose by 0.4%, to $2,876.50 per ton. LME daily data revealed that on-warrant aluminum stocks in LME registered warehouses dropped to 452,600 tonnes after a fresh cancellation of 32,025 metric tons in Malaysia. South32, an Australian company, said that it would take the Mozambique?Mozal aluminum smelter under maintenance and care by the end of March after failing to reach a power agreement with the government. LME lead rose 0.2% to $1944 from $1937.5, its lowest level since May. Zinc dropped 1.5% to $ 3,048.50. Both metals were delivered in large quantities to LME stock, mostly from Singapore. Nickel fell 0.2% to $14,310, after reaching a low of $14.235, which was the lowest in eight months, on Monday. Tin lost 0.6%, falling to $40,720. (Reporting and editing by Tasim Zaid; reporting by Polina Devitt)
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Europe's electric vehicle leaders and laggards
Sales of EVs on the continent have been uneven. They are skewed towards the northern?and _western countries while the nations to the south and east tend to lag. The EU has now eased its emissions targets for the year 2035, despite strong opposition from the industry. It claims that EV demand is?slower than expected? and the transition to EVs will take more time. In Norway, where government subsidies and investments in charging infrastructure have been made to encourage the use of electric vehicles, the data shows that EV sales reached 94% of the 'total car sales' in the first 7 months of 2025. The Nordic countries and other nations in Northern and Western Europe have also invested in infrastructure and provided subsidies to boost sales. In southern and Eastern Europe, EV adoption has been slower. Electric cars are more expensive for most buyers, and the charging infrastructure in certain regions is nonexistent. Inovev data indicates that Croatia has a?1% adoption rate. In the first seven month of this year, the overall take-up rate of EVs in much of the continent was?in low-to-mid-single-digits. The?EU allocated funds to support charging infrastructure, and EV subsidies in the entire bloc. In markets such as Spain, where programmes have been launched to encourage the purchase of electric cars, Chinese automakers have seen a greater benefit than their European competitors.
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Rare protests in Russia over plan to build a church for war dead at a city park
Locals in the southern city Krasnodar, which is home to a riverside park, have made a rare protest against plans to build a memorial church to Russia's war-dead. They publicly appealed for President Vladimir Putin to stop it. A video posted online shows a resident reading out the appeal in front of a large group, which chanted its approval. The message called on Putin to protect the park located in the Yubileiny District, near the Kuban River, as a green area for his children and grandchildren. "We do not oppose religion." "We are for the law", it stated. "The authorities do not listen to us." We have to shout. "Yubileiny is against the development." The date of the public meeting was unclear. In 'Russia, protests are very rare. Since the invasion of Ukraine by Russia in February 2022, virtually all forms dissent have been suppressed. The Kremlin has said that the church is dedicated to the "heroes of the special military operations", which is how they refer to the war. The war connection was not the main focus of the people's opposition. Alexander Safronov is a Communist Member of the Local Parliament. He said that residents are not against the church in principle but do not want to see the embankment developed. Spas, an evangelical religious television channel, said that Krasnodar needed more churches, and called the opponents to the project "raving Communists". Safronov claimed that the channel had "lied?and filth?" on the protesters but that this had only led to their increase in number. In a Krasnodar VK chatroom, the issue was discussed in a lively manner. Some residents complained that there are already too many churches in the city. One person wrote: "Prayers won't solve what is going on in this country." Reporting by Mark Trevelyan, Editing by Gareth Jones
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Drafts reveal that the EU will extend the carbon border tax to new products.
Draft documents from the European Commission, seen by, show that the European Union intends to 'extend its upcoming border tax on carbon to include imported products such as car parts, washing machines and refrigerators. This is to close any loophole that foreign firms could use to avoid paying this levy. The EU will publish a set of measures related to the world's first carbon border tariff on Wednesday. This is before the CO2 emissions cost on imported steel, cement, and other goods begins in January. The draft Commission proposal stated that "the proposal will expand the scope of Carbon Border Adjustment to address the risk of carbon leakage in products further down the value chain of the steel and aluminium products which are currently within CBAM scope." Un spokesperson for the Commission declined to comment on this draft which may still be revised before publication. The new tax would be applied to all products Based on an assessment of their exposure to “carbon leakage” - the risk industries will relocate outside Europe to avoid the strict climate policies in the region. The Commission wants to close an existing loophole that allows foreign producers of steel and aluminum to reduce their metal exports to the EU to avoid paying the CO2 fee, and instead ship?assembled products that are heavy in either aluminium or steel, as these products do not currently pay the EU fee. According to the draft, the Commission will "consider" extending the carbon border tax in the future in order to cover additional downstream products from the cement, fertilizer and hydrogen sectors. (Reporting and Editing by Charlotte Van Campenhout, Louise Heavens and Kate Abnett)
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Indonesia auctions 629, 000 metric tons bauxite stocks
An official from the energy ministry said that Indonesia will auction?629,000 tons of bauxite taken over by the government on Tuesday. The auction is expected to earn it about 200 billion Rupiah (12 million dollars). A miners' association warned that the move could harm the industry as the available processing capacity is still limited. Jeffri Huwae said in a?statement that the auction is intended to increase state revenues, and provide legal certainty for assets under government control. Huwae explained that the'stockpile' was the remnants of mining operations conducted by companies with mining permits. These permits are now expired, and the material is still not sold. According to the law, the management of mining operations, and any output produced by the previous operator reverts?to the government upon expiry of the permit. The ministry did not identify the holders of the permits. The auction will begin on Tuesday, and finish on December 22. $1 = 16,690 rupiah (Reporting and editing by David Stanway, Clarence Fernandez).
International shares march greater on Fed rate cut bets
European shares struck a 2-1/2 week high up on Tuesday, tracking a. Wall Street rally driven by expectations that the Federal. Reserve might offer more tips of impending rate cuts later. today.
With the data calendar relatively light throughout major. economies this week, all eyes are on Wednesday's release of the. Fed's July meeting minutes and Chair Jerome Powell's speech at. Jackson Hole on Friday for hints on the outlook for U.S. rates.
Fed policymakers have in current days signified a potential. rate relieving in September, priming markets for a similar tone. from Powell and other speakers at the yearly conference of global. central bankers and other policymakers in Jackson Hole, Wyoming.
Ought to they acknowledge the U.S. economy's disinflation. course, it will verify a September rate cut, said Thierry. Wizman, international FX and rates strategist at Macquarie.
Markets will likely turn on the extent to which Powell. unlocks for the possibility of a 50 basis point (bps) cut. at one of the next three FOMC conferences.
In Europe, the STOXX 600 index increased 0.2% to its. highest level considering that August 1, having actually recovered all the losses. seen after the weak U.S. labour market report prompted concerns. about the state of the economy.
Given that the report, we have actually had number after number after. number recommending that a recession in the U.S. economy is not. around the corner, said Josephine Cetti, chief financial investment. strategist at Nordea, pointing out strong U.S.
retail sales
, positive
organization surveys
, enhancing jobless claims numbers and a
benign inflation
reading.
The economic downturn fears have actually been moistened over the last. couple of weeks and the marketplace has rebounded a lot.
MSCI's broadest index of Asia-Pacific shares outside. Japan hit a one-month high before giving up some. gains to trade 0.3% higher.
Japan's Nikkei 225 struck its greatest level in. over 2 weeks, closing up 1.8%, but Chinese blue-chips. fell 0.7% on continued concerns over the country's. bleak economic outlook. Hong Kong's Hang Seng Index. edged down 0.5%.
U.S. stock futures rose, with S&P 500 futures. last up 0.1% while Nasdaq futures advanced 0.3%.
That left global stocks 0.1% greater, at. their greatest level in over a month.
Expectations of a dovish Fed result this week left the. dollar struggling at an over seven-month low versus the euro. , which peaked at $1.108775 on Tuesday. Sterling. touched a one-month high and last purchased $1.2995.
The dollar index was last at 101.84, having. been up to its lowest because early January of 101.76 earlier in. the session.
Against the yen, the dollar was flat at 146.50,. with traders likewise aiming to Bank of Japan (BOJ) Governor Kazuo. Ueda's look in parliament on Friday, where he is set to. discuss the reserve bank's choice last month to raise interest. rates.
The BOJ's hawkish tilt had actually injected substantial volatility into. markets as investors aggressively relax yen-funded bring. trades, rocking stocks internationally.
The market chaos has considering that eased off after BOJ Deputy. Governor Shinichi Uchida earlier this month played down the. possibility of more rate walkings in the near term.
With markets calming, Ueda may change tack and go back to. speaking about normalising interest rates, said Joseph Capurso,. head of worldwide and sustainable economics at Commonwealth. Bank of Australia.
Down Under, the Reserve Bank of Australia evaluated a near-term. rate cut was not likely and policy may need to remain limiting. for an prolonged period to guarantee inflation can be tamed,. minutes of the reserve bank's August meeting out on Tuesday. showed.
That buoyed the Australian dollar slightly,. though it was last 0.1% lower after hitting a one-month high. previously in the session.
In commodities, oil rates fell on easing fret about. supply disruptions in the Middle East, with Brent crude. last down 1% at $76.91 a barrel. U.S. crude reduced 1.2% to. $ 73.50 per barrel.
Area gold touched another record high of $2521.36 an. ounce, drawing assistance from a broadly weaker dollar and on. expectations of impending U.S. rate cuts.
(source: Reuters)