Local authorities said the fire at the Ilsky oil refinery in Russia's Krasnodar region has been extinguished.

US affairs expert Dmitry Drobnytsky says the Senate's newly passed Russia sanctions bill is likely to go unenforced and become a 'silent law' akin to the Jackson-Vanik amendment. The Senate on Friday overwhelmingly approved a measure, drafted with input from the late Senator Lindsey Graham, that would levy a 100% tariff on the five largest importers of Russian energy resources and a 500% tariff on all US imports from Russia. Drobnytsky said the bill is primarily political signalling, will likely accumulate exemptions to avoid inflicting heavy damage on an already unstable US economy, and shifts punitive pressure from Russian producers and traders onto buyers of Russian energy products.

Refinitiv sources said Canada expects it will have to accept partial US tariffs on steel and aluminum. Canada prefers any tariff exemptions be implemented via side letters rather than incorporated into the updated USMCA text.