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Trump declares that further strikes are possible if Venezuela's Maduro appears in US court
The interim Venezuelan government, led by Nicolas Maduro, was to appear before a U.S. Court on Monday following his capture over the weekend by American forces. U.S. president Donald Trump left open the possibility of a second incursion in the event that the United States did not get what it wanted from Venezuela. Trump said to reporters on Sunday that he would order another strike against Venezuela if it did not cooperate with U.S. efforts in opening up its oil industry and stopping drug trafficking. He also threatened to take military action against Colombia and Mexico, and said that Cuba's communist government "looks as if it is ready to fall." The Colombian Embassy in Washington and the Mexican Embassy in Washington have not responded to requests for comments. Trump's remarks came just before Maduro was scheduled to appear in New York on Monday, before a federal court judge. Maduro has been detained in a Caracas military raid that took place on Saturday. The incident has thrown Venezuela into turmoil. Trump administration officials have described the seizure of Maduro as a law enforcement action to hold him accountable for criminal accusations filed in '2020 accusing him of narcoterrorism conspiracy. Trump has denied that other factors are at play. He said the raid was in part triggered by the influx of Venezuelans to the United States, and Venezuela's decision decades ago to nationalize U.S. Oil interests. He said, "We are taking back what they took" as he returned to Washington on Sunday from Florida aboard Air Force One. Trump stated that oil companies will return to Venezuela to rebuild the country's petrol industry. He said that oil companies would spend billions and extract the oil from the ground. Maduro is still in charge in Caracas and his top officials have been defiant. Delcy Rodriguez has been appointed interim leader and she has stated that Maduro is still president. She has also contradicted Trumps claim that Rodriguez was 'willing to cooperate with the United States. Rodriguez, who is also the oil minister, was long considered to be the most pragmatic of Maduro’s inner circle. Maduro is accused of supporting major drug trafficking groups such as the Sinaloa Cartel, and the Tren de Aragua Gang. Prosecutors claim he used his presidential properties to transport drugs, protected violent trafficking groups, and directed routes for cocaine. On Saturday, the charges were updated to include Cilia Flores who is accused by the prosecution of ordering murders and kidnappings. The first charges were filed in 2020. Maduro denies any wrongdoing and a trial could take several months. Since Maduro declared victory in an election that was marred with allegations of massive irregularities, the United States has labeled him a 'illegitimate leader. Trump, however, has rejected the idea that Nobel Peace Prize-winning opposition leader Maria Corina Machado could take over. He said she lacked support. Machado has been banned from running in the 2024 elections, but she has said that her ally Edmundo Gonzales has the mandate to become president. Some international observers believe he won the vote overwhelmingly. Trump stated on Sunday that his administration would work with Venezuela's government to crack down on drug trafficking, and to open its oil industry rather than push for elections in order to install new leaders. Maduro may have few allies in the world, but many countries question the legality of seizing a head of state from another country and call on the U.S. respect international law. The U.N. Security Council is scheduled to meet on Monday to discuss this U.S. assault, which Secretary General Antonio Guterres called a dangerous precedent. The attack also raised questions about the Venezuela policy in Washington where opposition Democrats claim that they were misled by administration officials. Marco Rubio, the Secretary of State, was to brief Capitol Hill's top lawmakers later Monday. Venezuela, once one of Latin America's most prosperous countries, has seen its economy collapse over the last 20 years. This has led to one-fifth of Venezuelans moving abroad, in what is one of world's largest exodus. Maduro was a former Venezuelan bus driver and leader for over 12 years following the death of Hugo Chavez. His removal could cause further destabilization of the 28 million-person nation. Reporting by bureaux around the world; Writing by Andy Sullivan, Editing by Sergio Non & Lincoln Feast.
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Ukraine: First civilians killed in Russian attack on Kyiv
Two people were killed in an overnight Russian air strike on Kyiv and the surrounding region, Ukraine's authorities announced on Monday. This appears to be the first death reported in Russian attacks on the Ukrainian capital in this year. The State Emergency Service of Ukraine said that the strike ignited a medical facility located in Obolonskyi District?in the northern sector of Kyiv, where a inpatient ward operated. The service said that after the fire was put out, a dead body was discovered inside. The service reported that 25 people had been evacuated and a?woman also suffered injuries. It released a?photo of emergency responders carrying an?unconscious body on a stretcher, past an ambulance outside of a building with snow on the floor. Mykola Kashnyk, the governor of the region, said on Telegram that Russia had also struck towns and villages in the Kyiv area, destroying homes and critical infrastructure and killing one civilian?in the Fastiv District, southwest of the capital. Kalashnyk? added that only a few areas of the region remained without electricity. Russia has not yet responded. Both sides deny that they targeted civilians during their attacks. Russia says it has attacked Kyiv, and other Ukrainian cities, with drones and missiles over the past four years, claiming to be 'hitting military targets.' Ukraine claims that civilians, and civil infrastructure, are frequently targeted. Reporting by Gleb Garanich and Lidia Kelly, both in Kyiv; editing by Tom Hogue and Stephen Coates.
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Trump warns India of increased tariffs over Russian oil purchases
Donald Trump told reporters on Air Force One that the United States may raise tariffs against India if New Delhi does not comply with Washington's request to curb its purchases of Russian crude oil. "Modi is a good guy." Trump said that he knew I wasn't happy and wanted to make me happier. Trump replied to a question about India's Russian oil purchase by saying, "They trade and we can increase tariffs very quickly." The Indian commerce ministry didn't immediately respond to an inquiry for comment. Last year, the U.S. doubled its import tariffs on Indian goods from 25% to 50% as punishment for India's heavy purchases of Russian oil. India's exports to America grew in November despite the high tariffs. Indian officials, encouraged by 'improved data on trade,' have maintained a firm position against U.S. demands for trade, signaling limited flexibility in areas like agricultural imports. Data shows India has decreased its oil purchases from Russia. People familiar with the situation said last week that India wants refiners to provide weekly reports?of Russian oil purchases and U.S. oil imports. They also added that they expect Russian crude imports will drop below 1 million barrels each day as New Delhi tries to reach a deal with Washington. Modi and Trump have spoken at least three times on the phone since Trump imposed tariffs. However, the conversations are still inconclusive. Last month, India's Commerce Minister Rajesh Agrawal and U.S. Deputy Trade Representative Rick Switzer met in Delhi to discuss economic and trade ties.
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PMI data shows that Saudi Arabia's private non-oil sector growth slowed in December.
Saudi Arabia's private non-oil business sector was still growing in December, even though the pace of growth slowed to its lowest level in four months and new orders continued to slacken, according to a Monday survey. The Riyad Bank Saudi Arabia Purchasing Managers' Index fell from 58.5 to 57.4 (seasonally adjusted) in December, indicating a second consecutive month of a slowdown in growth. Despite the slowdown in growth, the headline PMI was still slightly higher than its long-term average of 56.9. The PMI readings that are above 50.0 show growth, while those that are below indicate contraction. The output levels of non-oil companies rose dramatically, mainly due to increased new business, on-going projects and increased investment spending. The rate of growth, however, was the lowest since August. The subindex of new orders fell to 61.8 from 64.6 in November, but the rate of growth was the lowest in four months. The firms cited improved economic conditions and successful campaigns as the key drivers, but expressed concern over market saturation. Naif Al Ghaith is the chief economist at Riyad Bank. He said that the export demand has increased marginally for five consecutive months, but this latest increase was the smallest in the sequence. This suggests the external demand remains positive but uneven. He added that "overall, the demand conditions indicate resilience rather than acceleration" as firms navigate through a'more competitive environment. The employment growth rate remained high, with companies expanding their workforces. Inflationary pressures increased, as input prices rose sharply because of higher purchase costs. This led to an increase in output prices. The business confidence for the coming year was low, dampened by worries about rising competition and only moderate expectations of future growth.
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Gold prices surge as demand for safe-havens increases due to the US arrest of Venezuela's president
Gold prices rose Monday. Other precious metals also surged after the United States captured Venezuelan president Nicolas Maduro on 'the weekend,' escalating global tensions and boosting safe-haven demands. Gold spot rose 1.9% at 0312 GMT to $4,411.14 an ounce. This is a new weekly high. U.S. Gold Futures for February Delivery gained 2.1%, to $4419.90. Tim Waterer is the chief market analyst at KCM Trade. He said that Venezuela's events have reignited demand for safe-haven assets, including gold and silver, as investors seek to protect themselves against geopolitical risk. In an operation that caused civilian deaths, the U.S. captured Maduro?Saturday. Vice President Delcy Rodriguez is now acting as interim leader and has said that Maduro will remain president. Geopolitical tensions combined with central bank purchases, interest rate reductions and inflows to exchange-traded fund?contributed towards bullion's gains of 64% last year. This was its largest annual gain since 1979. It reached a record high of $4,549.71 in December 2025. Anna Paulson, President of the Federal Reserve Bank of Philadelphia, said on Saturday it could take some time before there are further rate cuts by central banks after a campaign of active easing in 2013. Investors still expect the U.S. Federal Reserve to cut rates at least twice this year. Waterer said that investors will be looking at the non-farm payroll figures due on Friday to get more clues about potential Fed rate reductions. In a low interest rate environment, and in times of geopolitical uncertainty or economic instability, non-yielding investments tend to perform well. Silver spot increased 4.4%, to $75.82 an ounce after reaching an all-time peak of $83.62 per?ounce on December 29. Silver surged 147% in the last year, outpacing gold. It was its best year ever. Silver's price has risen to new highs due to its classification as a vital mineral in the United States last year, as well as tight supply because of a growing industrial and investment demand. After reaching an all-time record of $2,478.50 on Monday, spot platinum rose 2.2% to $2,190.55. In early Asia, it rose 5% to an all-time high. Palladium rose 1.8% to $1,667.45 an ounce. Ishaan arora reported; Sherry Jacob Phillips and Ronojoy Mazumdar edited.
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Demand for iron ore is high and supplies are tight, resulting in a rise of iron ore prices at the start of the New Year.
Iron ore futures rose on Monday as the New Year began on a positive note. This was aided by?strong Chinese demand and ongoing supply restrictions. After the Chinese New Year holidays, the Shanghai Futures Exchange and the Dalian Commodity Exchange resumed trading after the New Year. As of 0243 GMT, the most-traded contract for May iron ore on?the DCE was trading 0.76% higher. It was 795.5 Yuan ($113.94). The benchmark iron ore contract for February?on Singapore Exchange increased 0.29% to $100.65 a ton. Steelmakers are restocking iron ore ahead of the Lunar New Year holiday in February. Tight domestic supplies also support prices. According to a Shanghai Metals Market note, China's iron ore supply is still constrained. Several mines have limited production due to environmental measures. Mysteel, a consultancy, reported that the stocks of five major carbon steel products held by Chinese steelmills dropped 1.1% on a week-to-week basis to 3.81 million tonnes between December 26 and 31. Coking coal and coke, which are used to make steel, also fell in price. The steel benchmarks were mixed on the?SHFE. Hot-rolled coils fell 0.49%, while rebar dropped 0.38%. Wire rod grew by 4.93%, while stainless steel rose 0.65%.
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Market analysts react to Trump’s Venezuela gamble
The global investors face a new surge in geopolitical risks after the U.S. captured Venezuelan President Nicolas Maduro. However, initial market reactions have been relatively calm with oil volatile and safe haven flows lifting gold. On Monday, stocks rose on the back of tech and defence sectors. The dollar also advanced. Here are some comments from market analysts. VISHNU VARATHAN HEAD OF MACRO RESEARCH ASIA EXJAPAN MIZUHO SINGAPORE "We're reminded that?geopolitical risk is much greater than a number cast on imported goods. "The sanctions against Venezuela and its exceptional dependence on oil exports... means that the Venezuelan regime change impact through trade channels and investment channels is quite naturally limited and ringfenced. This is why there hasn't been a big selloff. The question and case in mind are: Is the stability of LatAm at risk? The effects could be far greater. "Trump has clearly warned Colombia and Mexico, but he also mentioned Cuba. Part of the population is happy that Maduro has left. I think it is less clear that the U.S. would be viewed negatively if Venezuela was not involved, especially without the significant benefits from the oil "endowments", even if other minerals were used. KYLE RODDA, SENIOR MARKET ANALYST, CAPITAL.COM, MELBOURNE The short-term implications are relatively limited and confined to the energy sector. The market is definitely responding?in precious-metals, and this is the government's increasing their exposure to alternatives that are not dollar-based (and non fiat). Other than that, I believe the markets are more interested in what lies ahead. TAI HUI, CHIEF MARKET STRATEGIST FOR ASIA-PACIFIC, J.P. MORGAN ASSET MANAGEMENT, HONG KONG The lack of response is due to two factors. Venezuela's oil output in relation to the global production is very small (around 1%) It's not likely to be able increase production or add to the global supply anytime soon due to years of underinvestment. "It is still unclear what will become of the new regime, as President Trump has announced that the U.S. will be 'running Venezuela' in the short-term. The energy market would have the most impact on global markets. There will be geopolitical repercussions, but I don't think the financial markets can accurately price such risks." VASU MENON - MANAGING DIRECTOR FOR INVESTMENT STRATEGY, OCBC SINGAPORE While President Trump pledged U.S. support for the industry to revitalise the oil production in Venezuela, restoring operations would require "significant time" and substantial capital investment. Oil prices could rise modestly in the short-term due to supply disruptions and ongoing political turmoil. "However the impact may be limited given that Venezuela is currently not a major producer of oil. OPEC's production decisions could?also stabilize prices. The Trump administration's appetite for regime change remains to be seen. Strategic calculations are being made against a backdrop of an upcoming midterm election year. The outcome is unpredictable. This uncertainty may keep oil prices high. The geopolitical situation may be more volatile, which could boost haven assets such as precious metals. Overall, the markets are less susceptible to geopolitical risk today. They have survived an eventful year in 2025. As last year showed, there could be a skittish response to short-term shocks, but the effect might be temporary. Rae Wee, Gregor Stuart Hunter and Shri Navaratnam in Singapore reported the story; Ankur Banerjee compiled it; Shri Navaratnam edited it.
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Trump uses intimidation to get Venezuelan leaders in line
The Trump administration, after removing Nicolas Maduro as Venezuela's president from power in 2017, is betting that it can intimidate Venezuelan leader Nicolas Maduro's inner circle to follow the US. Sources familiar with the situation claim that Trump administration officials have threatened to take further military action, which could result in a similar fate for them. Donald Trump, the U.S. president, said that the United States might consider a second'military operation' in Venezuela if Venezuelan interim government did not cooperate. Trump told reporters on board 'Air Force One', which was traveling from Florida back to Washington, that he would consider a second military operation in Venezuela if the interim government did not cooperate. He said that if they didn't behave we would do a second attack. When asked if that meant U.S. soldiers would be deployed to the ground for peacekeeping, Trump replied it would depend upon the actions of Interim President Delcy Rodriguez's government. Trump's advisors believe that they can also work behind the scenes to help Rodriguez. Despite her public defiance she is seen as a technologist who could be willing to work with the U.S. to facilitate a political change and to address key oil issues. Trump wants Rodriguez to allow the U.S. to have "total" access to Venezuela's oil infrastructure and to roads and bridges in disrepair. Trump warned reporters that if she and the interim administration do not cooperate they may face a harsh response. He said that Maduro "had given up instantly" and that Trump would be able to use military force against her. The uncertainty?about Trump's administration's use?of military force raises questions about his abilities to bend the post Maduro Venezuelan Government to his will. According to a source, the sweeteners that Maduro could offer his aides are offers of amnesty and safe exile. These were the types of offers Maduro refused in his last days before being captured by U.S. Special Forces on Saturday. He is currently being held in a New York jail awaiting his Monday court date on drug charges. The Venezuelan Defense Minister Vladimir Padrino, and Interior Minister Diosdado Cabello, both powerful members of Maduro’s inner circle, who have each received multi-million dollar U.S. bountys on their heads, remain spoilers for any agreement with the U.S. due to their control over the country’s military and intelligence apparatus. Trump's efforts could be undermined if Democrats are able to convince enough Republicans that they should restrict funding for "further Venezuelan military operations". The U.S. President's promise on Saturday to "run?"?post Maduro Venezuela seems to be a desire to exert control - or, at least, heavy influence – over the OPEC country without deploying U.S. forces that would not have much support in their home country. Officials in the United States believe that they can still get Venezuelan cooperation by maintaining a massive buildup of military forces off its coast, and by threatening further airstrikes, targeting Maduro's loyalists, and as a final resort, sending a contingent U.S. soldiers. The source said, "This sword is hanging over Trump's head." According to a source with knowledge of the situation, Venezuela's leaders may feel particularly vulnerable due to the damage caused by U.S. strikes on Venezuela's air defence systems. Rubio stressed on Sunday news shows that another major way to exert pressure is by maintaining a "quarantine", which would prevent Venezuelan oil from being shipped out, the main source of income for the government. VENEZUELAN OPERATORS DEFY Top Venezuelan officials who called the capture Maduro's and his wife Cilia Flores as a kidnapping, and accused the U.S. trying to steal Venezuela's vast oil reserve, insistent that they remain united. Rodriguez, who is also Venezuela's oil minister, has been appointed interim leader by Venezuela's highest court. She has stated that Maduro will remain president. Rodriguez, who has a strong connection with the private sector, and possesses a deep understanding of oil, which is the main source of income for the country, has been considered to be the most pragmatic of Maduro's inner group. However, she has publicly contradicted Trump's claims that she was willing to work with America. Rubio, ignoring Rodriguez' defiant words, told CBS: "We are going to assess them on the basis of their actions, not just what they publicly say." Trump did not mention restoring democracy in Venezuela during his press conference held on Saturday. He also disappointed the opposition by dismissing the idea of working together with Maria Corina Machado - widely regarded as Maduro’s most credible rival and winner of the Nobel Peace Prize - and focusing more on the 'prospects' for exploitation Venezuela's oil resources. Trump's advisers seem to believe that co-opting Venezuelan's current leaders is the best way to stabilise the country, create a pathway for U.S. investment in oil and move towards some sort of political transition away the Maduro regime. Since the U.S. invaded Panama in 1977 to remove military leader Manuel Noriega on allegations that he ran a drug-running organization, it hasn't intervened so directly in Latin America. The United States also made similar accusations against Maduro. They accused him of running a 'narco-state' and rigging 2024 elections, which he denied. Trump did not provide a clear picture of how the U.S. will fulfill its vow to oversee Venezuela. Critics condemned this as neocolonialism, and it would alienate some supporters who are opposed to foreign intervention. Two U.S. officials say that the Western Hemisphere Office of the U.S. State Department was taken by surprise by Trump’s remarks. No preparations had been made to send staff to Caracas. Matt Spetalnick, Humeyra Pauk and Valerie Volcovici, Washington. Additional reporting by Jonathan Landay, Diane Craft, and Sergio Non.
Ukraine accuses Russia 30 times of attacking Ukraine's energy infrastructure since March
Ukraine accused Russia of carrying out over 30 attacks on its infrastructure energy since both sides agreed to pause such strikes in March.
Heorhii Tikhyi said that Russia has attacked energy plants in Kherson, Mykolaiv, and Poltava, in the middle of the country, over the last 24 hours.
He said: "We believe that the energy truce began on 25 March." "Unfortunately, it is clear that Russia violates this agreement on a nearly daily basis. Russia has violated the agreement 30 times in less than a month.
Both Kyiv & Moscow accuse one another of violating the 30-day limited ceasefire for energy infrastructure strikes, brokered by the U.S.
The Russian state news agency RIA reported that the Russian defence ministry confirmed on Wednesday that Ukraine had carried out six attacks against Russian energy infrastructure in the last day.
Tykhyi stated that Ukraine provided details about the alleged violations of its Western allies.
The limited energy ceasefire was supposed to be the first step towards a complete ceasefire and pave the way for an agreement that would bring an end to more than three years war with Russia.
Ukraine agreed to an expanded U.S. ceasefire offer, but Russia effectively blocked it because of additional conditions.
The frontline is still raging along more than 600 miles (1,000 km) of its length.
Russian forces continue to press on in eastern Ukraine. Ukraine's daily military update said that the fiercest fighting was around Pokrovsk Toretsk and Lyman directions.
Volodymyr Zelenskiy, the president of Ukraine, has stated that Moscow is also planning a new offensive in the north-east towards Kharkiv region and Sumy region.
(source: Reuters)