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16.12.25 - 20:24
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Stocks Extend Losses As White House Threatens Retaliation Against ′Unreasonable′ EU Digital Tax (ZeroHedge)
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Stocks Extend Losses As White House Threatens Retaliation Against 'Unreasonable' EU Digital Tax
US equity markets are extending early losses following the Trump administration threatening retaliation against the European Union in response to efforts to tax American tech companies.
The White House singled out prominent companies, including Accenture Plc, Siemens AG and Spotify Technology SA, as possible targets for new restrictions or fees.
“If the EU and EU Member States insist on continuing to restrict, limit, and deter the competitiveness of U.S. service providers through discriminatory means, the United States will have no choice but to begin using every tool at its disposal to counter these unreasonable measures,” the Office of the US Trade Representative said in a social media post on Tuesday.
“Should responsive measures be necessary, U.S. law permits the assessment of fees or restrictions on foreign services, among other actions,” the post said.
As Bloomberg reports, the USTR n...
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12.11.25 - 21:03
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US Sanctions Push Indian Refiners Away From Russian Crude (ZeroHedge)
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US Sanctions Push Indian Refiners Away From Russian Crude
By Charles Kennedy of OilPrice.com
All but two Indian refiners have skipped placing orders for Russian crude for December after the U.S. sanctioned Russia's top oil producers, Rosneft and Lukoil, sources with knowledge of the purchases told Bloomberg on Tuesday.
India's refiners, which have come to rely on cheap Russian crude in the past three years, have withdrawn from the December purchasing window which typically closes by November 10.
Five large refiners, including state-owned Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum Corporation Limited (HPCL), and Mangalore Refinery and Petrochemicals Limited (MRPL), and private firms Reliance Industries Ltd and HPCL-Mittal Energy Ltd, have not requested any Russian crude for December.
Combined, these five firms have imported two-thirds of all Russian crude oil into India year to date, according to Kpler data cited by Bloomberg.
Only India's biggest state-held...
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