2026-01-07 12:41

ATHENS, Jan 7 (Reuters) - Greece promised farmers cheaper fuel and full compensation for future output losses on Wednesday in a last-ditch effort to persuade them to end demonstrations that have disrupted travel and hit some businesses. Farmers have stationed thousands of tractors and trucks across Greece since late last year, obstructing major highways and intermittently blocking border crossings to protest high production costs and delays in farm aid payments. Sign up here. The centre-right government of Prime Minister Kyriakos Mitsotakis, under fire over a farm aid corruption scandal, has urged farmers to halt the blockades and join talks. But farmers have threatened more action unless their demands, including minimum prices for their products, are met. Greek ministers admitted that while payments started a month later last year, in November, as EU approval was needed following the farm aid scandal, farmers got 3.82 billion euros ($4.46 billion) in aid and other payments, a 13% rise over 2024. Agriculture Minister Kostas Tsiaras announced cheaper agricultural diesel and 160 million euros in additional aid to stock breeders and cotton and wheat producers this year. "The government is exhausting any available means, is fixing decade-long ills and is introducing transparency rules to reboot the primary sector," Tsiaras said. Athens also promised quick amendment of rules to allow full compensation for any future damage to crops or livestock. Greece's neighbour Bulgaria said on Wednesday it has filed an official complaint over the blocking of border crossings which has caused "serious economic difficulties for Bulgarian transport companies, exporters and citizens" and violated EU rules for the free movement of people and goods. EU agriculture ministers are meanwhile meeting in Brussels to discuss a free trade deal with South American bloc Mercosur. The European Commission, backed by countries including Germany and Spain, needs a majority of 15 members representing 65% of the EU population to authorise the bloc to sign the deal, which would still need European Parliament approval. Tsiaras said the deal should come with "clear and practical safeguard clauses" and fair play rules. ($1 = 0.8558 euros) https://www.reuters.com/business/greece-offers-farmers-cheaper-fuel-damage-cover-bid-end-blockades-2026-01-07/

2026-01-07 12:36

BRUSSELS, Jan 7 (Reuters) - Italian Agriculture Minister Francesco Lollobrigida asked the European Commission on Wednesday to exempt fertilizers from import levies in a bid to help farmers compete with farm produce from South American bloc Mercosur. "The alarming market situation suggests a suspensive clause on the CBAM (carbon border levy) should be activated as soon as possible," he said in a letter to European Commissioner for Agriculture Christophe Hansen, ahead of a meeting of EU agriculture ministers to discuss a proposed free trade agreement with Mercosur. Sign up here. "In the immediate future, however, I would consider it appropriate to adopt a parallel measure to the benefit of our farmers through the elimination of duties on fertilizers imported from third countries," Lollobrigida said. He added he hoped the Wednesday meeting could break the deadlock on Mercosur deal. https://www.reuters.com/business/italy-demands-exempt-fertilizers-tariffs-eu-carbon-border-levy-2026-01-07/

2026-01-07 12:32

Zelenskiy wants U.S. security guarantees for over 15 years U.S., Ukrainian officials revisit land, nuclear plant talks Trump has tools to pressure Russia, Zelenskiy says KYIV, Jan 7 (Reuters) - Ukrainian President Volodymyr Zelenskiy said on Wednesday he wanted a new meeting with U.S. President Donald Trump as their officials revisited the two most problematic issues in talks aimed at ending Russia's war in Ukraine. Kyiv is under U.S. pressure to secure peace but wants security guarantees from allies and is pushing back on Russian demands to cede its eastern Donetsk region and give up control of the Zaporizhzhia nuclear power plant. Sign up here. Speaking to reporters over WhatsApp on Wednesday, Zelenskiy said he wanted another meeting with Trump soon to gauge his openness to a Ukrainian proposal that Washington ensure security for Kyiv for more than 15 years in the event of a ceasefire. He also urged Trump to step up pressure on Russia, which has been cool on the U.S.-backed peace push and is pressing on with its massive air attacks on Ukrainian cities and the country's energy grid. "The Americans, in my view, are being productive right now; we have good results... They need to put pressure on Russia. They have the tools, and they know how to use them," Zelenskiy said. The White House did not immediately respond to a request for comment on the suggestion of a new meeting between Zelenskiy and Trump. Citing the recent U.S. operation to seize Venezuelan President Nicolas Maduro, Zelenskiy suggested Washington could similarly move against Chechen leader Ramzan Kadyrov, a Vladimir Putin ally whose troops became known for their brutality in Ukraine. "Maybe then Putin would see it and think twice," he said. Talks in Paris this week produced commitments from Kyiv's allies to back up a ceasefire with guarantees such as a multinational troop presence. But Zelenskiy said the expression of "political will" had yet to be translated into legally binding pledges backed by national parliaments. STUMBLING BLOCKS IN PEACE PROCESS Zelenskiy spoke as U.S. and Ukrainian officials in Paris discussed the matter of territory and the fate of the Zaporizhzhia plant, Europe's largest nuclear facility, which he described as the two thorniest issues in the talks. Kyiv has refused to pull out of the industrialised Donetsk region, which Russia has failed to seize entirely despite occupying wide swathes of it. Zelenskiy has said the U.S. has floated the idea of a free economic zone there if Ukraine withdraws from the parts of the region that it still controls. On Tuesday, U.S. and Ukrainian officials had already talked through "some ideas" to address the issue of territory, he said. White House special envoy Steve Witkoff said "land options" had been discussed and that he hoped for compromise to be reached. The U.S. has also proposed trilateral operation of the Zaporizhzhia plant, which Moscow captured in 2022 and connected to its own power grid, with an American chief manager, Zelenskiy said last month. Kyiv has instead proposed joint Ukrainian-American use of the plant, according to Zelenskiy, with the U.S. itself determining how to use 50% of the energy produced. NO NEW DEMANDS Zelenskiy and other top officials have engaged in high-stakes shuttle diplomacy for weeks to end the war, despite few indications that Russia will sign onto a deal that falls short of its maximalist demands. Speaking later on Wednesday during a visit to Cyprus, Zelenskiy urged Kyiv's allies to increase pressure on Moscow and avoid asking Kyiv to make painful concessions. "We are doing everything required on our side in the negotiation process. And we expect that no additional or excessive demands will be placed on Ukraine," he said. Zelenskiy added that it was possible the war could be concluded by mid-2026. https://www.reuters.com/world/europe/ukraine-us-revisit-land-nuclear-plant-issues-wednesday-talks-2026-01-07/

2026-01-07 12:22

TSX ends down 0.8% at 32,135.49 Energy declines 1.5% as oil settles 2% lower Declines for railroad stocks weigh on industrials Fnancials lose 0.8% Jan 7 (Reuters) - Canada's main stock index pulled back on Wednesday from a record high as commodity prices declined and investors weighed the need for Canada to diversify its trading partners. The S&P/TSX Composite index (.GSPTSE) , opens new tab ended down 271.53 points, or 0.8%, at 32,135.49, after posting a record closing high on Tuesday. Sign up here. The U.S. seized two Venezuela-linked oil tankers in the Atlantic Ocean as part of President Donald Trump's aggressive push to dictate oil flows in the Americas and force Venezuela's socialist government to become an ally. Investors have worried that a boost in Venezuelan oil exports to the United States could hurt Canadian companies that sell a similar heavy oil. "The supply needs for the U.S. are still quite substantial. Even as they get the Venezuela oil back, there's going to be the need for Canadian oil," said Shiraz Ahmed, founder of Sartorial Wealth. "It's still a low-cost and low-risk solution for the U.S., but it will put some pressure on Canada to diversify trade." Canadian Prime Minister Mark Carney will visit China January 13-17, his office said, in what will be the first visit by a Canadian prime minister since 2017. Carney is trying to diversify Canada's exports away from its main market, the United States, as Canada faces uncertain U.S. trade policy. Canada's trade data for October is due on Thursday. Economists expect the trade balance to swing to a deficit of C$1.4 billion, after it posted a surprise surplus in September. The energy sector (.SPTTEN) , opens new tab fell 1.5%, adding to this week's decline, as the price of oil settled 2% lower at $55.99 a barrel. Gold and copper prices also fell, giving back some recent gains. The materials group (.GSPTTMT) , opens new tab, which includes metal mining shares was down 0.6%. Industrials ended 2.4% lower as railroad stocks declined, and heavily weighted financials lost 0.8%. https://www.reuters.com/business/tsx-futures-dip-investors-weigh-new-us-venezuela-developments-key-data-focus-2026-01-07/

2026-01-07 11:57

Jan 7 (Reuters) - Shares of billionaire Michael Saylor's Strategy (MSTR.O) , opens new tab rose on Wednesday, after MSCI shelved a plan to exclude the bitcoin hoarder and other crypto treasury firms from its indexes. Digital asset treasury companies, often called DATCOs, surged in popularity in 2025 as a wave of firms began holding crypto tokens such as bitcoin and ether as their main treasury assets, lifting prices and giving investors a proxy for direct exposure. Sign up here. Despite their popularity, the tokens remain prone to sharp price swings and shares have stayed volatile. The accounting treatment is also unsettled, with analysts debating whether these companies should be viewed primarily as holding vehicles or assessed based on their underlying businesses. "While this decision does not resolve longer-term questions around the index eligibility of DATCOs, it removes a material near-term technical risk for a subset of public equities that function as effective proxies for bitcoin/crypto exposure," said Owen Lau, analyst at Clear Street. "We believe the most likely middle ground is that MSCI continues to grandfather existing DATCOs already in the Indexes." Index provider MSCI proposed removing DATCOs from its global benchmarks in the fall, arguing they resemble investment funds, which are excluded from its indexes. The move stoked concerns that other major index providers could follow. Many such firms countered they are operating companies developing new products, and that MSCI's proposals unfairly single out crypto. "MSCI intends to open a broader consultation on the treatment of non-operating companies... we suspect exclusion is postponed until later in the year," said Mike O'Rourke, chief market strategist at JonesTrading. Shares in Strategy, formerly MicroStrategy, surged after it started buying bitcoin in 2020. It was the first among DATCOs, and sparked a crypto treasury frenzy. It was last up 3.2% in morning trading, trimming earlier gains as a fall in bitcoin weighed on crypto-related stocks. https://www.reuters.com/business/strategy-rises-msci-shelves-plans-exclude-crypto-treasury-firms-indexes-2026-01-07/

2026-01-07 11:53

Deal to ship Venezuela oil to US set to redirect oil flows Venezuelan oil used by China refiners, near-term demand covered Chinese independents likely to tap other sanctioned oil Offers for Venezuelan Merey crude from Chinese buyers rise this week SINGAPORE, Jan 7 (Reuters) - Chinese independent refiners are expected to switch to heavy crude from sources including Iran in coming months to replace Venezuelan shipments halted since the U.S. removed the country's president, traders and analysts said. Caracas and Washington agreed to export up to $2 billion worth of Venezuelan crude to the United States, President Donald Trump said on Tuesday, after U.S. forces captured Venezuelan President Nicolas Maduro over the weekend. Sign up here. That arrangement is likely to curtail Venezuelan supply to China, analysts say, reducing a source of cheap oil for independent refiners known as teapots. The world's biggest crude importer is a major buyer of discounted sanctioned oil from Russia, Iran and Venezuela. AMPLE RUSSIAN, IRANIAN SUPPLY "The Venezuela drama hits China's independent refineries the hardest, as they may lose access to the discounted heavy barrels," said Sparta Commodities analyst June Goh. "However as there are ample Russian and Iranian feedstocks available and Venezuelan barrels on water, we do not foresee the teapots needing to bid up for unsanctioned barrels as the economics would likely not make sense for them," she said. China imported 389,000 barrels per day of Venezuelan oil in 2025, about 4% of its total seaborne crude imports, Kpler data showed. At least a dozen sanctioned vessels that loaded in December departed Venezuelan waters in early January carrying some 12 million barrels of crude and fuel, Reuters has reported. However, loadings for Asia at Venezuela's main ports have stopped since January 1, shipping data showed. With supply tightening, sellers of Venezuelan Merey crude for prompt delivery offered cargoes at discounts of about $10 per barrel to ICE Brent versus $15 last month, said one trader, although trade has come to a standstill. Another trader said offers were at minus $11 per barrel. FLOATING STORAGE CAN LAST 75 DAYS Venezuelan crude aboard ships in Asia remains sufficient to cover roughly 75 days of Chinese demand, limiting any immediate upside for alternatives, said Kpler senior analyst Xu Muyu. Teapots using Venezuelan oil are likely to switch to Russian and Iranian supply in March and April, and China can also tap non-sanctioned sources such as Canada, Brazil, Iraq, and Colombia, she said. Buyers have yet to start sourcing alternatives, trade sources said, with Iranian Heavy crude priced at a discount of about $10 per barrel to ICE Brent in ample supply, the cheapest alternative. Teapots may also consider Middle Eastern grades such as Iraqi Basrah, a Singapore-based trader said. Meanwhile, discounts for Canadian crude such as Cold Lake and Access Western Blend exported from the Trans Mountain pipeline have widened more than $2 this week to $4-$5 a barrel to ICE Brent for April delivery to China on expectations of lower U.S. demand, traders said. https://www.reuters.com/business/energy/chinese-refiners-expected-replace-venezuelan-oil-with-iranian-crude-traders-say-2026-01-07/