GenZero carbon markets report

Manila plans to expand gas and renewable energy production to meet a 6.6% increase in electricity demand over the next two years.
Ottawa and London increased bilateral exchanges to structure strategic cooperation on nuclear energy and critical minerals supply chains, as part of Canada’s G7 presidency.

Trump says Modi will stop Russian oil purchases amid rising tensions

Donald Trump says he secured Narendra Modi’s commitment to end Russian oil imports, adding political pressure to India-Russia trade relations.
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Under intense diplomatic pressure from Washington, member states of the International Maritime Organization agreed to postpone by one year the adoption of a carbon pricing mechanism for global maritime transport.
Washington confirms it has mandated the CIA to carry out secret actions against Nicolas Maduro’s government, escalating tensions between the United States and Venezuela amid geostrategic and energy stakes.

Brussels seeks to ban Russian gas and oil by 2027 in major diplomatic move

Two European Parliament committees propose to advance the full halt of Russian hydrocarbon imports to 2026 and 2027, including oil, gas, and LNG, strengthening the European Union’s geopolitical position.
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The COP30 conference hosted in the Amazon by Brazil faces low participation from global leaders, amid geopolitical tensions and major logistical challenges.
The United States has granted Trinidad and Tobago a special licence to resume negotiations with Venezuela on the Dragon gas field, partially lifting restrictions imposed on the Venezuelan energy sector.

Brussels moves forward with plan to eliminate Russian oil and gas imports by 2028

Ambassadors of European Union member states have approved the transmission of a legislative proposal to phase out Russian fossil fuel imports by January 2028 to the Council of Ministers.
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The State Duma has approved Russia’s formal withdrawal from a treaty signed with the United States on the elimination of military-grade plutonium, ending over two decades of strategic nuclear cooperation.
Polish Prime Minister Donald Tusk said it was not in Poland’s interest to extradite to Germany a Ukrainian citizen suspected of taking part in the explosions that damaged the Nord Stream gas pipelines in 2022.

Saudi companies to launch 500 MW of energy projects in Syria

Al-Harfi and SCLCO signed agreements with Syrian authorities to develop solar and wind capacity, amid an ongoing energy rapprochement between Riyadh and Damascus.
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Faced with risks to Middle Eastern supply chains, Thai and Japanese refiners are turning to US crude, backed by tariff incentives and strategies aligned with ongoing bilateral trade discussions.
France intercepted a tanker linked to Russian exports, prompting Emmanuel Macron to call for a coordinated European response to hinder vessels bypassing oil sanctions.

UN sanctions on Iran reactivated, increased pressure on trade

The activation of the snapback mechanism reinstates all UN sanctions on Iran, directly affecting the defence, financial and maritime trade sectors.
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Commissioner Dan Jørgensen visits Greenland to expand energy ties with the European Union, amid plans to double EU funding for the 2028–2034 period.
European and Iranian foreign ministers meet in New York to try to prevent the reinstatement of UN sanctions linked to Tehran’s nuclear programme.

Canada and Mexico launch strategic partnership focused on energy and infrastructure

Canadian Prime Minister Mark Carney announces a bilateral agreement with Mexico including targeted investments in energy corridors, logistics infrastructure and cross-border security.
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The US president has called for an immediate end to Russian oil imports by NATO countries, denouncing a strategic contradiction as sanctions against Moscow are being considered.
Tehran withdrew a resolution denouncing attacks on its nuclear facilities, citing US pressure on IAEA members who feared suspension of Washington’s voluntary contributions.
Azerbaijani energy infrastructure targeted in Ukraine raises concerns over the security of gas flows between Baku and Kyiv, just as a new supply agreement has been signed.
The suspension of 1,400 MW of electricity supplied by Iran to Iraq puts pressure on the Iraqi grid, while Tehran records a record 77 GW demand and must balance domestic consumption with regional obligations.

China rejects European threat to reinstate sanctions against Iran

Beijing opposes the possible return of European trio sanctions against Iran, as the nuclear deal deadline approaches and diplomatic tensions rise around Tehran.
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The United States plans to collaborate with Pakistan on critical minerals and hydrocarbons, exploring joint ventures and projects in strategic areas such as Balochistan.
Around 80 Russian technical standards for oil and gas have been internationally validated, notably by the United Arab Emirates, Algeria and Oman, according to the Institute of Oil and Gas Technological Initiatives.

Iraq and Syria Revive Kirkuk-Baniyas Pipeline to Bypass Traditional Routes

Baghdad and Damascus intensify discussions to reactivate the 850 km pipeline closed since 2003, offering a Mediterranean alternative amid regional tensions and export blockages.
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The two countries end 37 years of conflict with a 43-kilometer corridor under American control for 99 years. The infrastructure will transport 50 million tons of goods annually by 2030.
A senior official from the UN agency begins technical discussions with Iran on Monday, the first meeting since June strikes on Iranian nuclear sites.

Indonesia finalises free trade agreement with Eurasian Economic Union for December

A free trade agreement between Indonesia and the Eurasian Economic Union is set to be signed in December, aiming to reduce tariffs on $3 bn worth of trade and boost bilateral commerce in the coming years.
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The visit of India's national security adviser to Moscow comes as the United States threatens to raise tariffs on New Delhi due to India’s continued purchases of Russian oil.
Brussels freezes its retaliatory measures for six months as July 27 deal imposes 15% duties on European exports.

Iran and Iraq struggle to finalize gas agreement despite advanced negotiations

Discussions between Tehran and Baghdad on export volumes and an $11 billion debt reveal the complexities of energy dependence under U.S. sanctions.
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Facing US secondary sanctions threats, Indian refiners slow Russian crude purchases while exploring costly alternatives, revealing complex energy security challenges.
The 50% tariffs push Brasília toward accelerated commercial integration with Beijing and Brussels, reshaping regional economic balances.

Trump hits Brazil with 50% tariffs but spares oil and iron

Washington imposes massive duties citing Bolsonaro prosecution while exempting strategic sectors vital to US industry.
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Sanctions imposed on August 1 accelerate the reconfiguration of Indo-Pacific trade flows, with Vietnam, Bangladesh and Indonesia emerging as principal beneficiaries.
Washington triggers an unprecedented tariff structure combining 25% fixed duties and an additional unspecified penalty linked to Russian energy and military purchases.

Qatar threatens to cut gas to Europe over climate requirements

Qatar rejects EU climate transition obligations and threatens to redirect its LNG exports to Asia, creating a major energy dilemma.
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Uganda is relying on a diplomatic presence in Vienna to facilitate technical and commercial cooperation with the International Atomic Energy Agency, supporting its ambitions in the civil nuclear sector.
The governments of Saudi Arabia and Syria conclude an unprecedented partnership covering oil, gas, electricity interconnection and renewable energies, with the aim of boosting their exchanges and investments in the energy sector.