The main events by the morning: July 4

• Democrats accuse Trump of the absence of new sanctions against Russia. Several senators have initiated an investigation into the presidential administration due to the five-month freeze on the process of tightening sanctions. They claim that the White House ignores Congressional recommendations by not updating the sanctions lists.

• Australia will maintain a 10% tariff on exports to the United States. Prime Minister Anthony Albanese has said that US tariffs on Australian exports are likely to remain at 10% beyond July 9th. According to him, the upcoming changes will not affect Australia, as they relate to countries with higher rates. Albanese noted that 10% is one of the most favorable tariff rates among US trading partners, but Australia will continue to seek more favorable terms.

• Russia has reduced fertilizer exports to the United States to a minimum in three months. In May, shipments fell by 24% compared to April, to $173.1 million. Exports of potash fertilizers decreased especially sharply (by 10 times) and mixed fertilizers (by 6 times). Supplies of nitrogen fertilizers remained at the same level ($162.2 million), while phosphorous fertilizers resumed. Despite the recession, Russia retained the second place among the largest suppliers of fertilizers to the United States. Canada remains the leader.

• BRICS will create a guarantee fund under the auspices of the New Development Bank (NDB) to attract investments. The goal is to reduce the cost of borrowing and attract private investment in the economies of the participating countries. The fund, similar to the MIGA mechanisms at the World Bank, has received technical approval and will be officially presented at the BRICS summit in Rio de Janeiro. At the first stage, the existing NDB capital is used, without additional contributions. It is estimated that every dollar of guarantees can attract up to $10 of private investments. The first projects are planned to be launched in 2026.

• China has stopped buying oil from the United States. Due to the suspension of purchases from China, the total volume of its exports of American oil dropped to the lowest level since the beginning of 2023. At the same time, US oil is not a necessary resource for China. Shipments from the United States accounted for about 1% of China's total imports in the first months of 2025.