The European Union has rejected Russia’s request to open WTO consultations over its carbon border tariff, saying talks are not possible due to Russia’s ongoing war against Ukraine.
Russia filed the request earlier this month, challenging the EU’s new carbon border adjustment mechanism (CBAM), which imposes climate-related fees on imports. The move was the first step toward a formal trade dispute.
But in a document submitted to the World Trade Organization on May 26, the EU said the conditions for talks were not met.
Brussels stated it “does not believe that the consultations requested by the Russian Federation can be fruitful,” given what it called Russia’s "war of aggression" against Ukraine.
The rejection effectively blocks further WTO proceedings on the issue for now.
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Israeli Prime Minister Benjamin Netanyahu said on Wednesday that his meeting with U.S. President Donald Trump focused primarily on efforts to secure the release of hostages held in Gaza. He also reiterated his commitment to dismantling Hamas's military and governing capabilities.
Heavy monsoon rain has unleashed sudden flash flooding around the mountain village of Ruidoso, New Mexico, trapping dozens of people in vehicles and homes and even sweeping away an entire house, according to state emergency officials.
Malaysia’s Prime Minister Anwar Ibrahim has called on Southeast Asian nations to deepen regional cooperation and boost intra-regional trade as the world faces increasing economic uncertainty.
U.S. President Donald Trump said that pharmaceutical imports could face tariffs of up to 200%, with details expected by the end of July following an ongoing national security review.
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Archaeologists have uncovered a 3,500-year-old city in northern Peru that likely served as a key trade hub connecting ancient coastal, Andean, and Amazonian cultures.
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
Israeli Prime Minister Benjamin Netanyahu said on Wednesday that his meeting with U.S. President Donald Trump focused primarily on efforts to secure the release of hostages held in Gaza. He also reiterated his commitment to dismantling Hamas's military and governing capabilities.
Heavy monsoon rain has unleashed sudden flash flooding around the mountain village of Ruidoso, New Mexico, trapping dozens of people in vehicles and homes and even sweeping away an entire house, according to state emergency officials.
Malaysia’s Prime Minister Anwar Ibrahim has called on Southeast Asian nations to deepen regional cooperation and boost intra-regional trade as the world faces increasing economic uncertainty.
U.S. President Donald Trump said that pharmaceutical imports could face tariffs of up to 200%, with details expected by the end of July following an ongoing national security review.
French President Emmanuel Macron called on Britain and France to “de-risk” their economies from U.S. and Chinese influence during an historic address to the UK parliament on Tuesday, signalling a renewed push for closer European cooperation.
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