EU proposes using frozen Russian assets to provide €90 billion to Ukeraine

Oil prices have maintained a modest gain as investors assess the potential for a ceasefire in Ukraine and the implications of rising tensions between the US and Venezuela. The market remains cautious, reflecting the ongoing geopolitical uncertainties that influence oil supply and demand dynamics.

China is likely to target a GDP growth rate of 5% in 2026 as part of its strategy to combat deflation. This initiative comes amid ongoing economic challenges, including a struggling housing market and concerns over consumer confidence.

Nvidia's servers have significantly accelerated AI models from China's Moonshoot AI and other companies, achieving a tenfold increase in processing speed. This advancement highlights Nvidia's pivotal role in enhancing AI capabilities, particularly for emerging tech firms in China.

The European Commission is contemplating a legal framework to compel industries to decrease their reliance on Chinese imports, as stated by Industry Commissioner Stéphane Séjourné. This initiative is part of a broader €3 billion strategy aimed at diversifying supply chains for critical raw materials, particularly rare earth metals, amid concerns over China's control over these resources.

Tesla is facing significant challenges in the Chinese market, as recent developments indicate a slowdown in demand, contrasting with previous expectations of growth. The company's stock has been negatively impacted as investors reassess the sustainability of its performance in this critical region.

Scott Bessent stated that China is on track to fulfill its commitments regarding US soybean purchases, indicating a positive momentum in agricultural trade relations between the two nations. This follows a series of significant transactions, including China's largest soybean buy from the US in two years, which has buoyed prices and encouraged sales from struggling farmers.

Hungary confirmed that oil flows from Russia through the Druzhba oil pipeline have continued despite a recent attack attributed to Ukraine. This development underscores the resilience of energy supply routes amid ongoing geopolitical tensions.

The European Union (EU) is taking steps to enhance its defenses against economic threats, particularly in light of recent export restrictions imposed by China. This initiative reflects the EU's growing concerns about its reliance on Chinese imports and aims to bolster its economic resilience in a shifting global landscape.