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Time of India
an hour ago
- Business
- Time of India
Goldman Sachs stock rises over 2% in premarket, up 23% YTD, after profit beats estimates on trading surge and 22% earnings jump
Goldman Sachs (GS stock) delivered a big surprise to Wall Street in its second-quarter earnings, posting a 22% jump in profit and blowing past expectations. The bank earned $3.7 billion in profit—or $10.91 per share—far above analyst estimates of around $9.69 to $9.74 per share, according to WSJ and FT . The reason? A massive rebound in both investment banking and trading, plus a strong performance even amid uncertainty from President Trump's ongoing tariff tensions. Why did Goldman Sachs stock go up today? The rally in GS stock can be traced to a few big wins in the company's core business: Explore courses from Top Institutes in Select a Course Category Management Data Analytics Project Management Design Thinking Cybersecurity Artificial Intelligence others Product Management healthcare Data Science MCA Digital Marketing Public Policy Others Degree MBA Leadership Data Science CXO Operations Management Finance PGDM Healthcare Skills you'll gain: Duration: 9 Months IIM Calcutta CERT-IIMC APSPM India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIM Kozhikode CERT-IIMK General Management Programme India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK GMPBE India Starts on undefined Get Details Total revenue for Q2 2025 came in at $14.58 billion, beating Wall Street's forecast of $13.58 billion. Net profit rose to $3.7 billion, up from $3.03 billion a year ago. Earnings per share hit $10.91, far exceeding expectations. Equities trading brought in a record $4.3 billion, about $840 million higher than analysts predicted. Investment banking generated $2.2 billion, up 26% year-over-year, adding roughly $400 million more than projected. This mix of strong results lifted GS stock by 1.2% in premarket trading, adding to its impressive 23% year-to-date gain, according to FT . How did trading help boost GS stock? Goldman Sachs' trading division made a strong comeback this quarter. Equities trading—stocks and related products—delivered $4.3 billion in revenue, a 36% increase from last year. That alone brought in $840 million more than what analysts had expected, based on data from FX Empire and Reuters . Even its fixed income, currencies, and commodities (FICC) trading arm outperformed. It brought in $3.5 billion, up 9% and slightly ahead of forecasts. These gains came despite market volatility sparked by Trump's fresh wave of tariffs on Asian tech components and metals. Live Events In short, Goldman's traders managed to turn market chaos into solid gains—something GS is known for historically. Did investment banking really bounce back for Goldman Sachs? Yes, big time. After months of sluggish dealmaking, Goldman's investment banking division brought in $2.2 billion, a 26% rise from last year. This surge was driven by a pickup in mergers and acquisitions (M&A) and capital raising activity, especially in healthcare and tech sectors, according to FT . With companies returning to the deal table and IPOs showing signs of life, this rebound added about $400 million more than expected, helping push up GS stock. What about other parts of Goldman's business? While trading and investment banking led the charge, other divisions were more mixed: Asset and wealth management dropped slightly to $3.78 billion, down around 3%. The bank added $384 million in credit loss provisions, mainly tied to its credit card portfolio, as per Reuters . Despite that, Goldman passed the Federal Reserve's stress test and announced a $1 per share dividend increase starting Q3. One controversial point: CEO David Solomon was awarded an $80 million stock bonus, which drew criticism from shareholders. What's the outlook for GS stock after these results? GS stock is riding high on strong earnings, but the big question is whether this momentum can last. The trading boom may fade if markets calm down. However, with investment banking activity climbing back and more volatility expected from ongoing trade policies, Goldman could still have room to run. Analysts say the firm is showing signs of its old self—nimble, profitable, and dominant in dealmaking and trading. As of now, GS stock is approaching all-time highs near $720 to $723, and its 23% gain this year makes it one of the best performers among big banks. Is GS stock a buy? Goldman Sachs is proving it can thrive even when markets are rough. A 22% rise in profit, trading revenue that beat forecasts by $840 million , and investment banking fees up 26% all show the bank is firing on multiple cylinders. While risks remain—especially in consumer credit and asset management—investors are clearly rewarding the strong Q2 numbers. With the dividend increase and a possible continued rebound in deals and volatility, GS stock is certainly in the spotlight now. FAQs: Q1: Why is Goldman Sachs stock rising today? Goldman Sachs stock rose after it beat profit estimates, driven by strong trading results. Q2: How much did Goldman Sachs profit increase? Goldman Sachs profit jumped 22% this quarter thanks to trading and investment banking gains.
Novaya Gazeta Europe
an hour ago
- Politics
- Novaya Gazeta Europe
White House plays down reports Trump asked Zelensky about striking Moscow — Novaya Gazeta Europe
US President Donald Trump walks on the South Lawn of the White House on 15 July 2025. Photo: EPA/Al Drago / POOL The White House has played down reports that US President Donald Trump asked Ukrainian President Volodymyr Zelensky about launching aerial attacks on Moscow in a phone call earlier this month, with Trump himself stressing on Tuesday that Ukraine 'shouldn't target' the Russian capital. 'President Trump was merely asking a question, not encouraging further killing. He's working tirelessly to stop the killing and end this war,' White House Press Secretary Karoline Leavitt said in a statement after The Financial Times (FT) reported on Tuesday that Trump had 'privately encouraged Ukraine to step up deep strikes on Russian territory' in a call with Zelensky on 4 July. According to the FT, Trump asked Zelensky whether Kyiv could 'hit Moscow [and] St. Petersburg too', to which the Ukrainian president replied, 'Absolutely. We can if you give us the weapons'. Two unnamed sources briefed on the call told the FT that Trump then indicated his support for the idea of Ukraine striking major Russian cities to 'make them [Russia] feel the pain' and force the Kremlin to negotiate an end to the war. The conversation was prompted by Trump's call with Putin the day before he spoke with Zelensky, the FT said, after which the US president said he was 'very disappointed' and 'didn't make any progress' with the Russian leader. On Tuesday evening, Trump told reporters outside the White House that Zelensky 'shouldn't target' Moscow in strikes and that the US was 'not looking' to supply Kyiv with long-range missiles capable of hitting targets deeper inside Russian territory. A day earlier, Trump announced that Washington would supply Ukraine with 'top-of-the-line' weapons, including Patriot air defence systems, to defend itself from Russian attacks and threatened to impose 'very severe' tariffs on Moscow's trading partners should Putin not agree to a deal to end the war within 50 days. The move marks a major shift in the Trump administration's policy on the war in Ukraine, with the US president growing increasingly frustrated with Putin for declaring Russia's readiness for peace while continuing to launch missile and drone strikes on Ukrainian cities.
Associated Press
2 hours ago
- Business
- Associated Press
Sterling Metals Announces Upsize of Private Placement Of Units and Flow-Through Shares
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES TORONTO, ON / ACCESS Newswire / July 16, 2025 / Sterling Metals Corp. (TSXV:SAG)(OTCQB:SAGGF) ('Sterling' or the 'Company') is pleased to announce that, further to its press release of July 10, 2025, the Company has increased the size of its non-brokered private placement to up to 3,193,445 common shares in the capital of the Company issued on a flow-through basis (each, a 'FT Share') at a price of $0.42 per FT Share and to up to 3,310,723 units (each, a 'Unit') of the Company issued on a hard-dollar basis at a price of $0.35 per Unit for aggregate gross proceeds of up to $2,500,000 (the 'Offering'). Each hard-dollar Unit shall be comprised of one common share (each, a 'Common Share') in the capital of the Company and one-half of one Common Share purchase warrant (each whole warrant, a 'Warrant') of the Company. Each Warrant shall entitle the holder thereof to acquire one Common Share at a price of $0.50 per Common Share for a period of two (2) years from the closing of the Offering. All securities issued pursuant to the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange. The net proceeds from the sale of the Units will be used for general working capital purposes and the gross proceeds of the Offering received from the sale of the FT Shares will be used to incur 'Canadian exploration expenses' that will qualify as 'flow-through critical mineral mining expenditures' as such terms are defined in the Income Tax Act (Canada). This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act') or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. About Sterling Metals Sterling (TSXV: SAG and OTCQB: SAGGF) is a mineral exploration company focused on large scale and high-grade Canadian exploration opportunities. The Company is advancing the 25,000-hectare Copper Road Project in Ontario which has past production, and multiple breccia and porphyry targets strategically located near robust infrastructure and the 29,000-hectare Adeline Project in Labrador which covers an entire sediment-hosted copper belt with significant silver credits. Both opportunities have demonstrated potential for important new copper discoveries, underscoring Sterling's commitment to pioneering exploration in mineral rich Canada. For more information, please contact: Sterling Metals Corp. Mathew Wilson, CEO and Director Tel: (416) 643-3887 Email: [email protected] Website: Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains certain 'forward-looking information' within the meaning of applicable securities laws. Forward looking information is frequently characterized by words such as 'plan', 'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate', 'may', 'will', 'would', 'potential', 'proposed' and other similar words, or statements that certain events or conditions 'may' or 'will' occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information. SOURCE: Sterling Metals Corp. press release
DW
15 hours ago
- Politics
- DW
Ukraine updates: Trump says Kyiv 'shouldn't' target Moscow – DW – 07/16/2025
Donald Trump says the US is "not looking" to supply Ukraine with weapons to reach deeper into Russia. Meanwhile, the EU has failed to reach an agreement on an 18th round of sanctions against Moscow. DW has more. Donald Trump has reportedly asked Ukrainian President Volodymyr Zelenskyy in a July 4 call if Ukraine's forces could potentially strike the Russian cities of Moscow or St. Petersburg. The White House has pushed back on media reporting on the call, saying it is being taken out of context. When asked if he intended to supply Ukraine with weapons that could reach deeper into Russian territory, the Trump said: "We're not looking to do that." Meanwhile, European Union foreign ministers gathered in Brussels for a summit that discussed the bloc's support for Ukraine and tougher sanctions on Russia. At the end of the working day on Tuesday, EU foreign affairs chief Kaja Kallas said the 27-member bloc had failed to approve an 18th sanctions package against Russia. Slovakia has been holding up the package, but Kallas said an agreement could still be reached tomorrow. US President Donald Trump told journalists at the White House that Ukraine "shouldn't" hit the Russian capital of Moscow with attacks. The remark comes after the (FT) and reported that Trump asked Ukrainian President Volodymyr Zelenskyy in a July 4 call if it were possible to militarily target Moscow and the major Russian metropolis of St. Petersburg. The White House earlier accused the FT of taking the Trump-Zelenskyy call out of context. Trump offered a more cautious tone on Tuesday after he threatened Russia on Monday with steep tariffs if President Vladimir Putin doesn't move within 50 days to end the war. DW spoke with British journalist Catherine Belton after Trump made new threats towards Russia. Having previously worked in Moscow, Belton has extensively covered the rise of Russian President Vladimir Putin. Belton gave her analysis on how Trump and Putin's relationship has changed and how the Kremlin is perceiving Trump's latest threats. Belton said the Trump-Putin relationship during Trump's first term from 2016 to 2021 was characterized as a "bromance." Now Trump has given Putin a 50-day ultimatum to agree to a peace deal in Ukraine or face "very very severe tariffs." Regarding the 50-day ultimatum, Belton said Putin doesn't like to feel "pressured" or "that he is on the back foot." "The hope in Moscow is that this is just a passing phase in the Trump-Putin relationship, that at some point, Trump will forget all about the fact that he is souring on Putin and that perhaps wave his hand at the Ukraine conflict because he realizes it is untractable," she added. Belton said Putin was "lulled into a false sense of security" as many pro-Trump officials had echoed pro-Russian talking points on the war in Ukraine at the beginning of Trump's second term. "I think there are worries among some in the Russian elite that Putin may have overplayed his hand," Belton said. Bradley Bowman, the senior director of the Center on Military and Political Power at the Foundation for Defense of Democracies think tank in Washington DC, spoke to DW on Trump's promise to provide Patriot missiles to Ukraine. Bowman said that although details are still unclear, the Patriot missiles would be in addition to previous US weapons commitments to Ukraine. "These would be additional Patriot systems and additional interceptors that Patriots use to shoot down a number of things, including Russian ballistic missiles," Bowman said. "These systems could come from Europeans who currently field the Patriot systems and/or they could come from the United States. Either way, it would be American produced Patriots, funded by Europeans, sent to Ukraine." Bowman said the Patriot missiles are at the "top of the list" for Ukrainian President Volodymyr Zelenskyy. "This will help, but it is not a panacea. It will reduce the effectiveness of some Russian attacks and save many Ukrainian lives," Zelenskyy said. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video "It's going to underscore to Putin and Beijing that America is not neutral in the face of unprovoked, authoritarian aggression. It will have many benefits, it will save many lives and it will increase, frankly, Trump's leverage in dealing with Putin," he added. "We'll see if it is enough leverage to get Vladimir Putin to finally negotiate in good faith. I'm not holding my breath, but I think it is a positive step in the right direction." US President Donald Trump earlier this week said the US would sell weapons such as missiles and artillery shells to European NATO allies, which would then be sent to Ukraine. EU foreign affairs chief Kaja Kallas said she hopes Ukraine will get the weapons the US has promised. At the same time, Kallas suggested that the US "share the burden" of providing weapons to Ukraine. "If you promise to give the weapons, but say that it's somebody else who is going to pay for it, it is not really given by you," Kallas said. The EU has failed to approve a new round of sanctions of Russia, EU foreign affairs chief Kaja Kallas said after a meeting of foreign ministers in Brussels. Kallas said she was "really sad" that there wasn't an agreement today. She said she was still "optimistic," however, that a deal would be reached tomorrow. In order to adopt the sanctions, the 27 EU members states would have to agree on adopting the punitive measures against Moscow. Slovakia has been reportedly holding up the sanctions due to concerns over a EU proposal to end imports of Russian gas by January 1, 2028. US President Donald Trump asked Ukrainian President Volodymyr Zelenskyy if Ukraine's military could potentially strike the Russian cities of Moscow or St. Petersburg, according to reports from the and . "Volodymyr, can you hit Moscow?... Can you hit St. Petersburg too?" Trump said in a July 4 call with Zelenskyy, the FT reported, citing several sources. "Absolutely. We can if you give us the weapons," Zelenskyy replied. The also reported on the call, citing a source. The reported that the call between Zelenskyy and Trump conveyed "Trump's determination to squeeze Putin." The White House has disputed FT's framing of the Trump-Zelenskyy call. White House Press Secretary Karoline Leavitt claimed the FT is "notorious for taking words wildly out of context." "President Trump was merely asking a question, not encouraging further killing," Leavitt told the . "He is working tirelessy to stop the killing and end this war." To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Trump has grown tired with Russian President Vladimir Putin as the Kremlin-ordered invasion of Ukraine continues. During his reelection campaign in 2024, Trump ran on the promise to end the war in Ukraine. Trump announced on Monday that the US will send Patriot missiles to Ukraine to defend itself, with the weapons being paid for by the European Union. The US president on Monday vowed 'very very severe' tariffs against Russia if a Ukraine truce deal is not achieved within 50 days. US President Donald Trump has threatened Vladimir Putin's Russia with tariffs unless it agrees to a peace deal with Ukraine. This has led many to wonder if this sudden turnaround signals the end of the so-called "bromance" between the two leaders. Analyst Boris Vormann tells us that it looks like a major shift, even though Donald Trump has never articulated a foreign policy vision. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Ukrainian President Volodymyr Zelenskyy has delivered a eulogy to his country and its people to mark Ukraine's Day of Statehood as it continues to face the full-scale Russian invasion launched in 2022. Zelenskyy spoke of the bond between the many generations that had lived in the country. "This day is about connection," he said. "About every stage of our statehood and about the bond that unites dozens of generations: those who lived in this land a thousand years ago and those who live here today." "A bridge through time, standing on three unshakable pillars: Ukrainians were here, Ukrainians are here, Ukrainians will be here," he added. He went on to say that Ukrainians were motivated to keep going not by praise from the country's allies about how brave and resilient they are but by the desire for self-preservation. "[...] Ukrainians are holding on not for that, not for the loud accolades directed at us. We are simply people defending our home. And we cannot do otherwise — because we do not want otherwise. We do not want Russia here. That is the whole truth," he said. His address also expressed gratitude to the "millions of Ukrainians" involved in defending the country. "It is a great cause, carried by you. The heroes at the front. Those holding the line. Those intercepting missiles and 'Shaheds' every night. Those extinguishing fires, those clearing rubble. And every citizen who has endured throughout this difficult time," he said. "Happy Statehood Day, fellow citizens!" Russian forces have taken control of two villages in the eastern Ukrainian region of Donetsk, much of which is controlled by Russian-backed separatists. In posts on Telegram, the Russian Defense Ministry said its troops had taken Voskresenka and Petrivka. The ministry said Ukraine had lost "up to 125 troops" during the offensive to "liberate" Petrovka. In Voskresenka, up to 185 Ukrainian troops were lost, the ministry said. The battlefield reports could not be independently verified. More now on the Ukrainian drone attacks overnight, which Russian authorities say left 18 people injured. Russia says it shot down 55 Ukrainian drones over five regions in the country's south and southwestern regions. The falling debris damaged homes and commercial buildings in Voronezh, where 16 people were injured. "Sixteen people, including a teenager, were hurt as a result of the attack," Voronezh regional Governor Alexander Gusev said on Telegram. Gusev said most of the injuries were minor, involving cuts and shrapnel wounds. "But there are also injuries of a different nature and serious cases," he added. "One man is in a coma, another has a lung injury." Unverified video shared by a Telegram channel with ties to Russia's security services showed an airborne object smashing into a building on a residential street in Voronezh, the regional capital city. The crash ignited a large fireball. Voronezh's mayor Sergei Petrin said a kindergarten was damaged. In the neighboring region of Lipetsk, a drone crashed into an industrial area of the city of Yelets, leaving one person injured, Lipetsk governor Igor Artamonov said on Telegram. In Bryansk, a region which borders Ukraine and Belarus, one woman was injured in a drone attack on Sluchevsk village, according to Bryansk governor Alexander Bogomaz. Russia has said it needs time to respond to US President Donald Trump's 50-day deadline to end the war in Ukraine or face more sanctions. During the remarks on Monday, Trump also unveiled plans to provide Kyiv with more weapons and impose "very severe" tariffs on Russia's trading partners. Speaking to reporters in Moscow, Kremlin spokesman Dmitry Peskov said Trump's statement is "very serious." "We certainly need time to analyse what was said in Washington." Trump's sanctions and tariffs threat marks a significant shift in approach towards Russia and its invasion of Ukraine, as the White House has grown increasingly frustrated with Putin and the Kremlin over the lack of progress in peace talks. Peskov insisted that Russia, which has rejected previous US ceasefire proposals, is willing to negotiate. Russia is "waiting for proposals from the Ukrainian side on the timing of the third round of direct Russian-Ukrainian negotiations," Peskov said. Russia and Ukraine have held two rounds of direct talks in recent months, but those meetings in Turkey have failed to yield a peace deal. Ukraine has accused Russia of making unrealistic demands, including abandoning its ambitions to join NATO and agreeing to giving up territory in eastern Ukraine that has been occupied by Russian forces for years. The Kremlin spokesman also said Trump's remarks on Monday would likely encourage Kyiv and hinder attempts to bring about a ceasefire. "It seems that such a decision made in Washington and in NATO countries and directly in Brussels will be perceived by Kyiv not as a signal for peace but for the continuation of the war," he said. Dutch Foreign Minister Caspar Veldkamp has also welcomed Donald Trump's announcement that the US will provide NATO countries with weapons for Ukraine. "We need to ramp up pressure on Russia," Veldkamp said. That's the "only way forward," he said, although he did say that Trump's 50-day deadline is "rather long." Speaking to reporters in Brussels, Veldkamp said, "We will look into what we can do also in relation to Mr. Trump's announcements and take it from there," adding that "we're looking into that with a positive inclination." Veldkamp pointed out that the Netherlands has already provided significant military support to Kyiv. He highlighted Patriot missile systems, missile batteries, F-16 fighter planes, portable missiles known as MANPADS, as well as drone cooperation. Asked by DW's Finlay Duncan, reporting from Brussels, about whether it appears that the Trump administration's views are aligning closer with those of Europe, Veldkamp said he is "very glad there's convergence" between Washington and Brussels. He said he "appreciates" that the US seems to finally understand that "Putin is dragging his feet" when it comes to earnestly working towards a ceasefire. Veldkamp also said he was pleased to see the bipartisan support in the US for a sanctions package that has the support of 87 out of 100 senators. "It's very important that the US is on the move and that we're on the move together as EU," he said, adding that he hopes the bloc will approve the 18th sanctions package "sooner rather than later." Latvian deputy Foreign Minister Artjoms Ursulskis has said Riga is confident any remaining issues blocking the approval of an 18th round of sanctions on Russia will be dealt with. Ursulskis, is attending the Brussels meeting instead of Foreign Minister Baiba Braze, who is visiting the US this week. Slovakia has reportedly been holding up the passage of the European Commission's June proposal amid concerns over sanctions on Russian oil. But Ursulskis said ministers would "iron out" those "small details on economic impacts." He also said the focus on the next round of sanctions should be Russia's so-called shadow fleet. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Moscow has used a number of opaquely owned and often non-insured ships to sell its oil while circumventing Western sanctions imposed in response to Moscow's invasion of Ukraine, which began in February 2022. "It's not just about sanctioning ships, but companies helping to circumvent sanctions," Ursulskis said, which help "bring in a lot of money for the Russian economy." He said the 18th package of sanctions, once approved, would be "much bigger in its direct impact." "If we shrink Russia's economy, it will be less able to finance war," Ursulskis said. Lithuanian Foreign Minister Kestutis Budrys has welcomed Donald Trump's shifting stance towards Russia, saying "there is still a dance for two with the US." On Monday, Trump announced he would be imposing tariffs and sanctions on Russia and its trading partners unless a ceasefire in Ukraine is reached within 50 days. Budrys said the EU needs "to sync with the Americans and their timeline," calling Trump's deadline a "signal for Europe to prepare itself" in case the sanctions and tariffs do take effect. He pointed out that there are still EU member states that rely on oil from Russia. While the ministers are hoping to agree on a proposed 18th round of sanctions against Russia's energy and financial sectors, Budrys said the bloc should already "start preparing a 19th package." Despite the fact that Russian President Vladimir Putin has yet to change his approach to the war, Budrys insisted that the sanctions "are effective." "Putin has to react when sanctions packages come along," the Lithuanian minister said, adding that "they have secondary effects" and are a factor "Putin listens to."
DW
a day ago
- Politics
- DW
Ukraine updates: EU fails to approve new Russia sanctions – DW – 07/15/2025
EU foreign affairs chief Kaja Kallas said the 27-member bloc did not come to an agreement on an 18th round of sanctions against Russia. Member state Slovakia has been holding up the sanctions package. DW has more. European Union foreign ministers gathered in Brussels for a summit that discussed the bloc's support for Ukraine and tougher sanctions on Russia. At the end of the working day on Tuesday, EU foreign affairs chief Kaja Kallas said the 27-member bloc failed to approve an 18th sanctions package against Russia, as Russia's assault on Ukraine continues. Slovakia has been holding up the package, but Kallas said an agreement could still be reached tomorrow. Meanwhile, Trump reportedly asked Ukrainian President Volodymyr Zelenskyy in a July 4 call if Ukraine's forces could potentially strike the Russian cities of Moscow or St. Petersburg. The White House has pushed back on media reporting on the call, saying it is being taken out of context. The EU has failed to approve a new round of sanctions of Russia, EU foreign affairs chief Kaja Kallas said after a meeting of foreign ministers in Brussels. Kallas said she was "really sad" that there wasn't an agreement today. She said she was still "optimistic," however, that had a deal would be reached tomorrow. In order to adopt the sanctions, the 27 EU members states would have to agree on adopting the punitive measures against Moscow. Slovakia has been reportedly holding up the sanctions due to concerns over a EU proposal to end imports of Russian gas by January 1, 2028. US President Donald Trump asked Ukrainian President Volodymyr Zelenskyy if Ukraine's military could potentially strike the Russian cities of Moscow or St. Petersburg, according to reports from the and . "Volodymyr, can you hit Moscow?... Can you hit St. Petersburg too?" Trump said in a July 4 call with Zelenskyy, the FT reported, citing several sources. "Absolutely. We can if you give us the weapons," Zelenskyy replied. The also reported on the call, citing a source. The reported that the call between Zelenskyy and Trump conveyed "Trump's determination to squeeze Putin." The White House has disputed FT's framing of the Trump-Zelenskyy call. White House Press Secretary Karoline Leavitt claimed the FT is "notorious for taking words wildly out of context." "President Trump was merely asking a question, not encouraging further killing," Leavitt told the . "He is working tirelessy to stop the killing and end this war." To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Trump has grown tired with Russian President Vladimir Putin as the Kremlin-ordered invasion of Ukraine continues. During his reelection campaign in 2024, Trump ran on the promise to end the war in Ukraine. Trump announced on Monday that the US will send Patriot missiles to Ukraine to defend itself, with the weapons being paid for by the European Union. The US president on Monday vowed 'very very severe' tariffs against Russia if a Ukraine truce deal is not achieved within 50 days. US President Donald Trump has threatened Vladimir Putin's Russia with tariffs unless it agrees to a peace deal with Ukraine. This has led many to wonder if this sudden turnaround signals the end of the so-called "bromance" between the two leaders. Analyst Boris Vormann tells us that it looks like a major shift, even though Donald Trump has never articulated a foreign policy vision. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Ukrainian President Volodymyr Zelenskyy has delivered a eulogy to his country and its people to mark Ukraine's Day of Statehood as it continues to face the full-scale Russian invasion launched in 2022. Zelenskyy spoke of the bond between the many generations that had lived in the country. "This day is about connection," he said. "About every stage of our statehood and about the bond that unites dozens of generations: those who lived in this land a thousand years ago and those who live here today." "A bridge through time, standing on three unshakable pillars: Ukrainians were here, Ukrainians are here, Ukrainians will be here," he added. He went on to say that Ukrainians were motivated to keep going not by praise from the country's allies about how brave and resilient they are but by the desire for self-preservation. "[...] Ukrainians are holding on not for that, not for the loud accolades directed at us. We are simply people defending our home. And we cannot do otherwise — because we do not want otherwise. We do not want Russia here. That is the whole truth," he said. His address also expressed gratitude to the "millions of Ukrainians" involved in defending the country. "It is a great cause, carried by you. The heroes at the front. Those holding the line. Those intercepting missiles and 'Shaheds' every night. Those extinguishing fires, those clearing rubble. And every citizen who has endured throughout this difficult time," he said. "Happy Statehood Day, fellow citizens!" Russian forces have taken control of two villages in the eastern Ukrainian region of Donetsk, much of which is controlled by Russian-backed separatists. In posts on Telegram, the Russian Defense Ministry said its troops had taken Voskresenka and Petrivka. The ministry said Ukraine had lost "up to 125 troops" during the offensive to "liberate" Petrovka. In Voskresenka, up to 185 Ukrainian troops were lost, the ministry said. The battlefield reports could not be independently verified. More now on the Ukrainian drone attacks overnight, which Russian authorities say left 18 people injured. Russia says it shot down 55 Ukrainian drones over five regions in the country's south and southwestern regions. The falling debris damaged homes and commercial buildings in Voronezh, where 16 people were injured. "Sixteen people, including a teenager, were hurt as a result of the attack," Voronezh regional Governor Alexander Gusev said on Telegram. Gusev said most of the injuries were minor, involving cuts and shrapnel wounds. "But there are also injuries of a different nature and serious cases," he added. "One man is in a coma, another has a lung injury." Unverified video shared by a Telegram channel with ties to Russia's security services showed an airborne object smashing into a building on a residential street in Voronezh, the regional capital city. The crash ignited a large fireball. Voronezh's mayor Sergei Petrin said a kindergarten was damaged. In the neighboring region of Lipetsk, a drone crashed into an industrial area of the city of Yelets, leaving one person injured, Lipetsk governor Igor Artamonov said on Telegram. In Bryansk, a region which borders Ukraine and Belarus, one woman was injured in a drone attack on Sluchevsk village, according to Bryansk governor Alexander Bogomaz. Russia has said it needs time to respond to US President Donald Trump's 50-day deadline to end the war in Ukraine or face more sanctions. During the remarks on Monday, Trump also unveiled plans to provide Kyiv with more weapons and impose "very severe" tariffs on Russia's trading partners. Speaking to reporters in Moscow, Kremlin spokesman Dmitry Peskov said Trump's statement is "very serious." "We certainly need time to analyse what was said in Washington." Trump's sanctions and tariffs threat marks a significant shift in approach towards Russia and its invasion of Ukraine, as the White House has grown increasingly frustrated with Putin and the Kremlin over the lack of progress in peace talks. Peskov insisted that Russia, which has rejected previous US ceasefire proposals, is willing to negotiate. Russia is "waiting for proposals from the Ukrainian side on the timing of the third round of direct Russian-Ukrainian negotiations," Peskov said. Russia and Ukraine have held two rounds of direct talks in recent months, but those meetings in Turkey have failed to yield a peace deal. Ukraine has accused Russia of making unrealistic demands, including abandoning its ambitions to join NATO and agreeing to giving up territory in eastern Ukraine that has been occupied by Russian forces for years. The Kremlin spokesman also said Trump's remarks on Monday would likely encourage Kyiv and hinder attempts to bring about a ceasefire. "It seems that such a decision made in Washington and in NATO countries and directly in Brussels will be perceived by Kyiv not as a signal for peace but for the continuation of the war," he said. Dutch Foreign Minister Caspar Veldkamp has also welcomed Donald Trump's announcement that the US will provide NATO countries with weapons for Ukraine. "We need to ramp up pressure on Russia," Veldkamp said. That's the "only way forward," he said, although he did say that Trump's 50-day deadline is "rather long." Speaking to reporters in Brussels, Veldkamp said, "We will look into what we can do also in relation to Mr. Trump's announcements and take it from there," adding that "we're looking into that with a positive inclination." Veldkamp pointed out that the Netherlands has already provided significant military support to Kyiv. He highlighted Patriot missile systems, missile batteries, F-16 fighter planes, portable missiles known as MANPADS, as well as drone cooperation. Asked by DW's Finlay Duncan, reporting from Brussels, about whether it appears that the Trump administration's views are aligning closer with those of Europe, Veldkamp said he is "very glad there's convergence" between Washington and Brussels. He said he "appreciates" that the US seems to finally understand that "Putin is dragging his feet" when it comes to earnestly working towards a ceasefire. Veldkamp also said he was pleased to see the bipartisan support in the US for a sanctions package that has the support of 87 out of 100 senators. "It's very important that the US is on the move and that we're on the move together as EU," he said, adding that he hopes the bloc will approve the 18th sanctions package "sooner rather than later." Latvian deputy Foreign Minister Artjoms Ursulskis has said Riga is confident any remaining issues blocking the approval of an 18th round of sanctions on Russia will be dealt with. Ursulskis, is attending the Brussels meeting instead of Foreign Minister Baiba Braze, who is visiting the US this week. Slovakia has reportedly been holding up the passage of the European Commission's June proposal amid concerns over sanctions on Russian oil. But Ursulskis said ministers would "iron out" those "small details on economic impacts." He also said the focus on the next round of sanctions should be Russia's so-called shadow fleet. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Moscow has used a number of opaquely owned and often non-insured ships to sell its oil while circumventing Western sanctions imposed in response to Moscow's invasion of Ukraine, which began in February 2022. "It's not just about sanctioning ships, but companies helping to circumvent sanctions," Ursulskis said, which help "bring in a lot of money for the Russian economy." He said the 18th package of sanctions, once approved, would be "much bigger in its direct impact." "If we shrink Russia's economy, it will be less able to finance war," Ursulskis said. Lithuanian Foreign Minister Kestutis Budrys has welcomed Donald Trump's shifting stance towards Russia, saying "there is still a dance for two with the US." On Monday, Trump announced he would be imposing tariffs and sanctions on Russia and its trading partners unless a ceasefire in Ukraine is reached within 50 days. Budrys said the EU needs "to sync with the Americans and their timeline," calling Trump's deadline a "signal for Europe to prepare itself" in case the sanctions and tariffs do take effect. He pointed out that there are still EU member states that rely on oil from Russia. While the ministers are hoping to agree on a proposed 18th round of sanctions against Russia's energy and financial sectors, Budrys said the bloc should already "start preparing a 19th package." Despite the fact that Russian President Vladimir Putin has yet to change his approach to the war, Budrys insisted that the sanctions "are effective." "Putin has to react when sanctions packages come along," the Lithuanian minister said, adding that "they have secondary effects" and are a factor "Putin listens to." Denmark's Foreign Minister Lars Lokke Rasmussen, speaking to reporters upon his arrival at the European Council headquarters in Brussels, has said his country is ready to purchase US weapons for Ukraine. His remarks come after US President Donald Trump said Monday that the US would sell weapons, including Patriot missiles, to NATO countries, who would then provide them to Kyiv. "I am proud to say we're the biggest supporter of Ukraine per capita, so of course we're willing to do that," Rasmussen said, adding that "it goes hand in hand with the Danish Model." The Danish Model is a mechanism to provide direct support for Ukraine's defense industry Ukraine says the mechanism will provide a total of €1.3 billion ($1.5 billion) in 2025, some of which will be sourced from profits generated by seized Russian assets. Since Russia launched its full-scale invasion of Ukraine in February 2022, Denmark has provided approximately €9 billion in military support and around €867 million in civilian contribution, according to Denmark's foreign ministry. Rasmussen clarified that while Denmark does not have any of its own Patriot missiles, his government should "lean into that" and "provide the money" to purchase the highly advanced missile defense systems. "We must work out the details," Rasmussen explained. But, he added, it is "important we have American readiness to deliver these weapons." The Danish minister also said Trump's new messaging on Russia and Ukraine is "very, very important in terms of accepting providing weapons, but also the sanctions scheme." Read more about Patriot missiles and why they are key to helping Ukraine. US President Donald Trump has said he is "not done" with his Russian counterpart Vladimir Putin. The remarks, made during an interview with the BBC that was published on Tuesday, came hours after he had said he was "very unhappy" with Russia during a meeting with NATO chief Mark Rutte. Since returning to the White House in January, Trump, who had previously pledged to end the war in Ukraine in a day, has tried to bring about peace talks and a ceasefire. But his attempts have fallen on deaf ears in Moscow, with Russia escalating its air strikes on Ukraine last week after Trump and Putin had spoken on the phone. During the interview with the BBC, Trump was asked if he was done with the Russian leader. "I'm disappointed in him, but I'm not done with him. But I'm disappointed in him," Trump said. Asked how he would convince Putin to "stop the bloodshed," Trump said "We're working on it." "We'll have a great conversation. I'll say: 'That's good, I'll think we're close to getting it done,' and then he'll knock down a building in Kyiv," the US president said. Amid his growing frustration over the lack of progress with peace talks, Trump on Monday said he was sending new weapons for Ukraine and threatened tariffs and sanctions on Russia and any countries that trade with it unless Moscow agrees to a peace deal within 50 days. The assertive posture is a major policy shift from Trump, who has previously suggested that Ukraine was responsible for starting the war, echoing Russia's narrative. He also tried to walk back pro-Ukraine policies favored by Trump's predecessor Joe Biden, including supporting Kyiv's membership in NATO and insisting that Russia withdraw its forces from Ukrainian territory. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video The European Union's foreign policy chief Kaja Kallas said Tuesday that the bloc's members are close to agreeing on a new round of sanctions against Russia. Foreign ministers from the EU's 27 member states are meeting in Brussels on Tuesday to discuss the bloc's support for Ukraine, among other issues. The European Commission in June proposed the 18th package of sanctions in response to Russia's invasion of Ukraine and Russian President Vladimir Putin's refusal to agree to a ceasefire. The sanctions target Moscow's energy exports as well as its banking sector and military industry. The sanctions proposal includes a price cap on Russian oil of 15% below the average market price, as well as bans on transactions with Russia's Nord Stream gas pipelines. "We hope to reach a political agreement on the 18th sanctions package. We are very, very close. I hope it comes today," Kallas said before the meeting. One member state — reported to be Slovakia — has yet to agree to the sanctions package over concerns about the price cap on Russian oil. When asked about the price cap, Kallas said "it's alive." "We have made proposals, but it is a question of whether we can overcome the veto of one member state or not. But we are trying to work on that," the former Estonian prime minister said. Ukrainian Foreign Minister Andrii Sybiha is also due to take part in Tuesday's talks. Sybiha plans to join the meeting by video-link. Russia's Foreign Minister Sergey Lavrov met with Chinese President Xi Jinping on Tuesday. Lavrov, who visited Russia's ally North Korea last week, is in China to attend a meeting of foreign ministers of the Shanghai Cooperation Organization (SCO). "Lavrov conveyed to the Chinese leader a friendly greeting and best wishes from the President of the Russian Federation Vladimir Putin," the Russian ministry said in a statement. "The two sides discussed a number of issues concerning bilateral political contacts ... including preparations for the Russian President's upcoming visit to the People's Republic of China." The Russian president is due to travel to China for a SCO leaders' summit in September. Since it launched its full-scale invasion of Ukraine in February 2022 and Ukraine's Western allies imposed a range of sanctions against Russia, Moscow has increasingly relied on support from China and North Korea. An overnight Ukrainian drone attack on the Russian southwestern regions of Lipetsk and Voronezh has left several people injured and damaged homes and other buildings, Russian authorities said Tuesday. Russia's Defense Ministry said on Telegram that a total of 55 Ukrainian drones were downed overnight over five Russian regions, as well as the Black Sea. Regional governor Governor Alexander Gusev 12 drones were destroyed over the Voronezh border region, where "several people sustained minor injuries due to debris from a downed UAV (unmanned aerial vehicles)." Several apartments in residential buildings in Voronezh, which is the administrative center of the region of the same name, were damaged, as were houses in the city's suburbs, Gusev said. In the neighboring Lipetsk region, a drone crashed in an industrial zone in the city of Yelets, regional governor Igor Artamonov said on Telegram, adding that one person was injured in the attack. There was no immediate comment from Ukraine about the Russian reports of the attack, and the full extent of the damage caused was unclear.
