Morning Brief: July 18

• The EU countries have approved the 18th package of anti-Russian sanctions. They will affect the Nord Stream gas pipelines, 105 vessels associated with the transportation of Russian oil, as well as the Indian refinery associated with Rosneft. It was also agreed to lower the price ceiling for oil from Russia to $47.6 per barrel, disconnect more than 20 Russian banks from the SWIFT system and completely ban operations.

• American businesses are scaling back investments in China. American companies are reducing their interest in investing in China: less than half of the respondents plan to invest in 2025, which is 80% less than in 2024. According to USCBC, the business has taken a wait-and-see attitude, waiting for the situation with trade policy to be clarified.

• Brazil has condemned NATO's statements on sanctions against BRICS. Brazilian Foreign Minister Mauro Vieira called the words of NATO Secretary General Mark Rutte about possible secondary sanctions against the BRICS countries "nonsense." In an interview with CNN Brazil, he stressed that Brazil solves trade issues through direct negotiations or within the WTO. Rutte said earlier that Brazil, China and India could face sanctions for continuing trade with Russia.  

• The US House of Representatives has approved the GENIUS Act bill regulating stablecoins. The document has been sent for signature to President Donald Trump and may become the first significant law on cryptocurrencies in the country. Congress approved three digital asset-related initiatives, receiving bipartisan support that exceeded analysts' expectations.

• Turkey is launching an antitrust investigation into Mastercard and Visa. The Turkish antimonopoly regulator is checking whether Mastercard and Visa restrict the ability of local payment companies to operate abroad. This decision is related to Turkey's increased control over the financial sector and international payment systems. At the moment, the companies have not given official comments.