A new U.S. Senate bill aims to pressure Russia into peace talks by imposing massive 500% tariffs on countries that purchase Russian fossil fuels. Championed by Senators Lindsey Graham and Richard Blumenthal, the bipartisan measure has already garnered support from 81 senators. While designed to cripple Russia’s economy, the bill could severely impact several EU nations that remain dependent on Russian energy.
The legislation includes broad sanctions on Russian entities and secondary tariffs targeting countries that maintain trade ties with Moscow. Graham and Blumenthal say the goal is to isolate Russia economically and stop support for its war in Ukraine.
CANADA FACES €54 BILLION PRICE TAG FOR ENTRY INTO ‘GOLDEN DOME’, TRUMP CLAIMS
Donald Trump stated that Canada must pay $61 billion (€54 billion) to participate in the U.S. “Golden Dome” missile defense system unless it becomes “our cherished 51st state.” Posting on Truth Social, Trump criticized Canada’s current status as a “separate, but unequal, nation.” The Golden Dome, unveiled last week, is a proposed $175 billion (€154 billion) defense system designed to intercept missiles globally, including those from space. While specific details remain limited, the plan marks a major military initiative. Despite tensions with the Trump administration, Canada has shown interest in joining the program, though no formal agreement has been reached yet.
EU COMPANIES SCALE BACK OPERATIONS AND CUT COSTS IN CHINA
European companies are reducing costs and scaling back investments in China amid a slowing economy and intense local competition, according to the European Union Chamber of Commerce in China’s 2025 Business Confidence Survey. The report highlights deteriorating business conditions, driven by China’s prolonged real estate slump and weak consumer demand. Overcapacity in sectors like electric vehicles—fueled by government subsidies—has triggered aggressive price wars, eroding profits and forcing firms to look abroad. Meanwhile, China’s export surge is drawing increasing resistance from the U.S. and Europe. These combined pressures are dampening confidence and reshaping European companies’ strategies in the Chinese market.
IRAN EXECUTES MAN ACCUSED OF ESPIONAGE FOR ISRAEL, REPORT SAYS
Iran has executed Pedram Madani, convicted of spying for Israel’s intelligence agency Mossad, the judiciary announced Wednesday. According to Mizan Online, after arrest and a full judicial process upheld by the Supreme Court, Madani was put to death. He allegedly recruited agents through Mossad training, transmitted classified information on infrastructure locations via secure channels, and met with Mossad officers at Israeli embassies in Germany and Belgium. Authorities seized assets including Euros and Bitcoin from him. Madani had traveled to Germany prior to his arrest, according to the report.
US OFFICIALS KRISTI NOEM, STEPHEN MILLER URGED ICE TO TRIPLE DAILY IMMIGRANT ARRESTS
US President Donald Trump’s aide Stephen Miller and Homeland Security Secretary Kristi Noem urged ICE agents to triple daily arrests to 3,000 per week during a tense meeting last week, Axios reported. This new target far exceeds early figures from Trump’s second term. ICE deported 17,000 people in April, a 29% increase over April 2024, per NBC News. Meanwhile, as the House passed Trump’s “big beautiful bill,” Capitol Hill Republicans are pushing for an additional $147 billion in immigration funding over the next decade.
