Morning Brief: July 14

• The trade war is becoming more concrete: Trump announced the introduction of 30% duties on the European Union and Mexico from August 1. The head of the European Commission, Ursula von Der Leyen, said that the EU would try to negotiate with the United States on reducing duties, and if it failed, it would respond with a countermeasure.

• Bitcoin has reached a new record: at the moment, the cryptocurrency rose to $122,402. The growth is associated with the escalation of the confrontation between the United States and the EU in the field of foreign trade, as well as expectations of regulatory changes in the United States. Lawmakers are discussing initiatives to regulate cryptocurrencies, and Donald Trump supports a softer approach to this area. Against the background of bitcoin's growth, Ethereum reached $3,037, and the capitalization of the crypto market approached $3.78 trillion. Since the beginning of the year, BTC has grown by 30%.

• The EU cannot agree on the 18th package of anti-Russian sanctions due to Malta's position. Representatives of Malta disagree with the European Commission's proposal to lower the ceiling on Russian oil prices to $47 per barrel and its further «floating regime». Slovakia, which had previously vetoed the package, agreed to new sanctions. But at the expense of his voting rights, he is trying to achieve more favorable conditions for Russian gas.

• The Ministry of Economic Development has proposed amendments to the draft law regulating the conditions for the repurchase of Russian companies by foreign owners. According to the amendments, even if the agreement provides for the possibility of repurchase, the Russian side has the right to reject this condition. One of the reasons for the refusal may be a statement from a foreign seller about the termination of its activities in Russia for political reasons.