An Australian official called the US's new tariffs "unfounded" and said Australia was disappointed by the US decision.

The Russian Defence Ministry warned navigation in its Black Sea waters is unsafe after attacks on vessels intensified, saying the warning applies to all ships in Russia's Black Sea exclusive economic zone and citing threats from Ukrainian unmanned aerial and maritime vehicles. Ukraine's General Staff said between July 8 and July 20 at least 124 vessels linked to Russia were attacked, including 89 oil tankers.

ECB says the inflationary impact of the broad energy shock has not yet materialized.