US and Russian officials discussed energy deals alongside latest Ukraine peace talks

 U.S. and Russian government officials discussed several energy deals on the sidelines of negotiations this month that sought to achieve peace in Ukraine, according to five sources familiar with the talks.

These deals were put forward as incentives to encourage the Kremlin to agree to peace in Ukraine and for Washington to ease sanctions on Russia, they said.

Russia has been cut off from most international investment in its energy sector and from striking major deals due to sanctions following the Ukraine invasion that began in February 2022. 

The officials discussed the possibility of Exxon Mobil re-entering Russia’s Sakhalin-1 oil and gas project, three of the sources said.

Exxon, the top U.S. oil producer, has held numerous discussions with Russian state-controlled oil firm Rosneft about re-entering the project after receiving approval from the U.S. Office of Foreign Assets Control under the administrations of both former President Joe Biden and President Donald Trump, said a separate source familiar with the matter.

Government officials also raised the prospect of Russia purchasing U.S. equipment for its LNG projects, such as Arctic LNG 2, which is under western sanctions, four sources said. 

None of the sources could be named because they were not authorised to speak publicly on the negotiations.

Another idea was for the U.S. to purchase nuclear-powered icebreaker vessels from Russia, Reuters reported on August 15.

The talks were held during U.S. envoy Steve Witkoff’s trip to Moscow earlier this month when he met with Russian President Vladimir Putin and his investment envoy Kirill Dmitriev, three of the sources said. They were also discussed within the White House with Trump, two of the sources said. 

These deals were also briefly discussed at the Alaska summit on August 15, one source said.

“The White House really wanted to put out a headline after the Alaska summit, announcing a big investment deal,” said one of the sources. “This is how Trump feels like he’s achieved something.”

Trump and his national security team continue to engage with Russian and Ukrainian officials towards a bilateral meeting to stop the killing and end the war, a White House official said in response to questions about the deals. It is not in the national interest to further negotiate these issues publicly, the official said. 

A spokesperson for Dmitriev declined to comment.

Exxon Mobil declined to comment. Rosneft and Novatek did not respond to requests for comment.  

TALKS COINCIDE WITH THREATS

Trump has threatened to impose more sanctions on Russia unless peace talks make progress and to place harsh tariffs on India, a major buyer of Russian oil. Those measures would make it difficult for Russia to maintain the same level of oil exports. 

Trump’s dealmaking style of politics has been on display before in the Ukraine talks, when earlier this year the same officials explored ways for the U.S. to revive Russian gas flows to Europe. These plans have been stalled by Brussels, which put forward proposals to fully phase out Russian gas imports by 2027.

The latest discussions have shifted to bilateral deals between the U.S. and Russia, pivoting away from the European Union, which, as a bloc, has been steadfast in its support for Ukraine. 

On the same day as the Alaska summit, Putin signed a decree that could allow foreign investors, including Exxon Mobil, to regain shares in the Sakhalin-1 project. It is conditional on the foreign shareholders taking action to support the lifting of Western sanctions on Russia.

Exxon exited its Russian business in 2022 after the Ukraine invasion, taking a $4.6 billion impairment charge. Its 30% operator share in the Sakhalin-1 project in Russia's far east was seized by the Kremlin that year.

The U.S. has placed several waves of sanctions on Russia’s Arctic LNG 2 project, starting in 2022 and cutting off access to ice-class ships that are needed to operate in that region for most of the year. 

The project is majority-owned by Novatek, which started working with lobbyists in Washington last year to try to rebuild relations and lift the sanctions. 

The Arctic LNG 2 plant resumed natural gas processing in April, albeit at a low rate, Reuters reported. Five cargoes have been loaded from the project this year onto tankers under sanctions. A production train was previously shut down due to the difficulties in exporting given the sanctions.

This project was intended to have three LNG processing trains. The third is in planning stages, with technology expected to be supplied by China. 

Washington is seeking to prompt Russia to buy U.S. technology rather than Chinese as part of a broader strategy to alienate China and weaken relations between Beijing and Moscow, one of the sources said.

China and Russia declared a "no limits" strategic partnership days before Putin sent troops into Ukraine. Xi has met Putin over 40 times in the last decade and Putin in recent months described China as an ally.

https://www.msn.com/en-gb/news/world/exclusive-us-and-russian-officials-discussed-energy-deals-alongside-latest-ukraine-peace-talks/ar-AA1LhfzU

'Pharma Spent More Than $48B in China in H1, Eclipsing Total 2024 Haul'

 

If the trend holds, IQVIA expects 2025 deal volume between Chinese and multinational companies to easily eclipse the 100 agreements signed in 2024.

Global pharmaceutical companies committed as much as $48.5 billion to partnerships with Chinese biotechs in the first half of the year, eclipsing the $44.8 billion total spent in all of 2024.

This eye-popping figure comes from an analysis of outbound China partnership deals with pharma that was conducted by IQVIA. If the trend holds, IQVIA expects that deal volume for 2025 will easily eclipse the 100 agreements signed in 2024. There were 61 deals struck in the first half of this year.

“In recent years, global biopharma companies have become more willing to invest in Chinese-originated therapies as a way to source efficient and cost-effective innovation,” IQVIA wrote. “In return, Chinese firms have received global validation for their novel assets and technologies as well as a steady cash flow to fund further development.”

There were 61 total deals signed with Chinese biotechs in the first half of 2025, according to IQVIA, including 37 that involved a U.S.-based company on the other side of the deal. U.S. companies represented 61% of the deals for the half, compared to just 37% in 2024.

The deals in the first half involved some huge sums, including 16 that exceeded $1 billion in value. Across the full year in 2024, the industry saw the same number of big-ticket deals. There were five deals in H1 2025 that exceeded $3 billion, compared to only three in all of 2024.

Dealmakers have been trending toward heavily backloaded deals with firms in China. The biotechs perform early-stage research in China to secure some clinical data, with the pharma waiting until the asset is de-risked before sinking more money into the investment, IQVIA explained.

Oncology was the number one indication, which is a trend that has held for several years. That field as well as immunological and inflammatory diseases are all rising.

IQVIA flagged Pfizer’s 3SBio outlay from May as the biggest, with $1.25 billion upfront, $100 million in equity and up to $4.8 billion in milestones. The deal gave the New York pharma access to the Phase III–ready bispecific antibody targeting PD-1 and VEGF called SSGJ-707, which is under development for non-small cell lung cancer, metastatic colorectal cancer and gynecological tumors.

AstraZeneca signed multiple deals in the first half, with $4.68 billion in deal value offered to Harbour BioMed for multi-specific antibodies in immunology and oncology.

While there is concern that geopolitical pressures could impact these types of deals, IQVIA notes that the data so far in the first half suggests “these cross-border partnerships will continue to thrive in the near future.”

Former FDA commissioner Scott Gottlieb warned in an article published in JAMA last week that the U.S. is dangerously close to losing its biomedical edge to China.

“If we fail to halt the drift of biomedical discovery toward China, we risk ceding a strategic technological advantage that may prove all but impossible to win back,” wrote Gottlieb, who is now a senior fellow at the center-right think tank the American Enterprise Institute.

https://www.biospace.com/business/pharma-spent-more-than-48b-in-china-in-h1-eclipsing-total-2024-haul

Amylyx Axes Drug Program for Rare Neurodegenerative Disorder

 

AMX0035—approved as Relyvrio in 2022 for amyotrophic lateral sclerosis but voluntarily pulled from the market last year—was unable to distinguish itself from placebo in a mid-to-late-stage trial of progressive supranuclear palsy.

Amylyx Pharmaceuticals is halting clinical development of AMX0035 in progressive supranuclear palsy, a rare neurodegenerative disease.

This discontinuation, announced Wednesday, comes after AMX0035 failed to significantly distinguish itself from placebo in the Phase IIb/III ORION trial at a 24-week follow-up. The study, which had a target enrollment of 110 patients, primarily assessed the drug candidate in terms of disease progression.

AMX0035 also failed to outperform placebo in terms of secondary outcomes, including improvements in motor aspects of activities of daily living. The drug candidate was generally well-tolerated, according to Amylyx, with a safety profile consistent with that in prior studies. Given these findings, the biotech will terminate the open-label extension phase of ORION and will no longer push through to its Phase III portion.

Affecting about 7 of every 100,000 people, progressive supranuclear palsy (PSP) is a rare neurodegenerative disorder that can turn fatal if left unchecked. Patients with this disorder suffer from dysfunctional movement, gait and balance. PSP also compromises swallowing and speech. Overall, the life expectancy among PSP patients runs from about six to eight years after initial diagnosis.

While Amylyx will no longer test AMX0035 for PSP, it will still continue assessments for the drug in Wolfram syndrome, with an update expected later this year.

Amylyx’s GLP-1 therapy avexitide will remain its “highest priority” moving forward, co-CEOs Josuha Cohen and Justin Klee said in a prepared statement on Wednesday. Avexitide is currently being studied for post-bariatric hypoglycemia (PBH) and the company expects to complete enrollment into the Phase III LUCIDITY trial this year. Topline findings from that study are expected in the first half of 2026.

Amylyx acquired avexitide from Eiger BioPharmaceuticals in July 2024 for $35 million. At the time of the purchase, the asset had already been tested in five trials for PBH, with mid-stage studies demonstrating significant reductions in hypoglycemic events.

Aside from avexitide, Amylyx is also advancing the antisense oligonucleotide AMX0114 for amyotrophic lateral sclerosis (ALS). Early cohort results from the Phase I LUMINA study are expected later this year, Cohen and Klee said in the company’s statement.

Wednesday’s mid-stage stumble comes as Amylyx tries to regain its footing in the market after voluntarily withdrawing its ALS therapy Relyvrio. The drug, which was approved in September 2022, failed a Phase III trial in March 2024, unable to significantly improve functional performance of patients versus placebo.

https://www.biospace.com/business/amylyx-axes-drug-program-for-rare-neurodegenerative-disorder

Regeneron Eyes 2026 Filing for siRNA Myasthenia Gravis Drug After Phase III Win

 

Regeneron’s cemdisiran, used alone or in combination with its complement inhibitor Veopoz, significantly improved activities of daily living in patients with generalized myasthenia gravis.  

Regeneron’s investigational small interfering RNA therapy cemdisiran significantly improved disease activity in certain patients with generalized myasthenia gravis, opening up a path for regulatory filing early next year.

Results from the Phase III NIMBLE study were published Tuesday, demonstrating a 2.3-point placebo-adjusted improvement in Myasthenia Gravis Activities of Daily Living (MG-ADL) scores, a patient-reported scale used to measure the daily impacts of the disease. Cemdisiran also achieved a 74% reduction of complement factor 5 (C5), a part of the complement system that is inappropriately activated in gMG.

Regeneron also tested a combination regimen of cemdisiran with the company’s complement inhibitor Veopoz, which elicited a significant MG-ADL improvement of 1.74 points over placebo. Veopoz is approved for the treatment of patients 1 year and up with CD55-deficient protein-losing enteropathy.

In premarket trading Wednesday, Regeneron’s stock was up 2.67%.

Writing to investors on Tuesday, analysts at Truist Securities noted that cemdisiran  monotherapy  “surpassed our expectations,” given the “historical performance” of other anti-C5 therapies. NIMBLE did not detect instances of meningitis, a known side effect of this drug class, but Truist still expects cemdisiran to come with a boxed warning if approved, “based on the class precedent.”

Aside from its apparent efficacy and safety edge, Truist also pointed to cemdisiran’s “convenient administration” as another point for Regeneron. The drug is given subcutaneously every 12 weeks, whereas its most notable competitors—AstraZeneca’s Soliris and Ultomiris—are delivered intravenously. This administration advantage could help cemdisiran “capture a significant share of the C5 gMG market,” according to the analysts.

With NIMBLE data in hand, Regeneron is planning an FDA submission for the first quarter of 2026, the pharma noted in its Tuesday release. Full findings from the study will be shared at an upcoming meeting.

Designed to target and destroy C5 mRNA, cemdisiran is a small interfering RNA therapy that helps suppress the complement cascade, which in gMG plays a role in damaging muscle nerves. The therapy was developed by Alnylam as part of a research collaboration with Regeneron, for which Regeneron in April 2019 paid $800 million upfront. The deal gave the pharma access to Alnylam’s RNAi experience for diseases of the eyes and central nervous system, a push that has cemdisiran at its core. Milestone payments for this agreement could reach up to $200 million.

Elsewhere in the gMG arena, argenx on Monday reported positive Phase III data for its FcRn inhibitor Vyvgart, positioning it up for expansion into patients who are AChR seronegative. While argenx did not provide specific data, it emphasized a “statistically significant and clinically meaningful improvement” in disease activity in patients treated with Vyvgart, adding that it is preparing for a label expansion application into this specific patient population.

https://www.biospace.com/drug-development/regeneron-eyes-2026-filing-for-sirna-myasthenia-gravis-drug-after-phase-iii-win

Trump's 50 Percent Tariff On India Takes Effect

 by Andrew Moran via The Epoch Times,

President Donald Trump’s additional 25 percent tariff on India became effective at midnight on Aug. 27, bringing the total rate to 50 percent on many imports entering the United States.

The president, in his global tariffs announcement in April, introduced a 26 percent levy on Indian goods, aimed at pressuring the Indian government to lower its trade barriers. Months later, the rate was revised slightly lower to 25 percent.

In an Aug. 6 executive order, Trump implemented an additional 25 percent tariff on India, saying its government is “currently directly or indirectly importing Russian Federation oil.”

Since Russia invaded Ukraine in 2022, India has been one of Russia’s most significant trading partners, with annual bilateral trade reaching almost $69 billion.

Energy has been the primary product uniting the two countries for the past few years.

With crude oil imports exceeding $52 billion last year, India accounts for an estimated one-third of Russia’s petroleum exports, fueled by a sanction-driven discount.

In December 2024, the Group of Seven (G7) introduced a price cap of $60 per barrel on Russian Urals crude to reduce the country’s oil revenues. Because global oil prices have declined—a barrel of U.S. West Texas Intermediate crude oil is trading at roughly $64 per barrel—the discount has become minimal.

“India swapped high-shipping-cost crude from the US, South America, and Africa with cheaper Russian crude,” energy economist Anas Alhajji said in a note for Energy Outlook Advisors. “About 932 kb/d [1,000 barrels per day] of costlier oil or oil redirected to Kuwait and Oman’s refineries was replaced by Russian imports. Sanctions on Russian crude shaped trade directions and India’s purchasing patterns.”

U.S. officials say that India’s continued transactions are funding Russia’s war effort in Ukraine.

In an Aug. 4 Truth Social post, Trump said India has been exploiting discounted Russian crude to sell it “on the open market for big profits.”

“They don’t care how many people in Ukraine are being killed by the Russian War Machine,” he said.

India’s government has dismissed these criticisms, stating in a response to The Epoch Times that these purchases are aimed at providing its nearly 1.5 billion population with affordable energy.

“In this background, the targeting of India is unjustified and unreasonable,” a spokesperson for the Indian Foreign Ministry said.

White House top trade adviser Peter Navarro echoed the president’s sentiment, telling reporters this past week that India has been “profiteering” on the war in Ukraine.

“India doesn’t appear to want to recognize its role in the bloodshed,” Navarro said on Aug. 21.

He also said India’s current trade policies are detrimental to the United States.

Peter Navarro, White House senior counselor for trade and manufacturing, speaks to reporters at the White House on Feb. 4, 2025. Madalina Vasiliu/The Epoch Times

“We run a massive trade deficit with them. So that hurts American workers, hurts American businesses,” Navarro said.

“Then they use the money that they get from us when they sell us stuff to buy Russian oil, which is then processed by refiners, and they make a bunch of money there. But then the Russians use the money to build more arms and kill Ukrainians, and so American taxpayers have to provide more aid, military-style, to the Ukrainians.”

According to the U.S. Trade Representative’s Office, the U.S. goods trade deficit with India was nearly $46 billion in 2024, representing a 5.9 percent increase from the previous year.

Trade Moving Forward

New tariffs are expected to disrupt the more than $200 billion in annual U.S.–India trade. A modest drop in imports of Indian goods was observed in the latest data.

In June, according to the Bureau of Economic Analysis, imports tumbled 3 percent from the previous month but were up 29 percent year-over-year.

New data from Descartes Systems Group indicate a significant rise in U.S. container imports, with volumes increasing by more than 18 percent in July compared to June. Notably, the group’s August Global Shipping Report highlights a nearly 14 percent surge in shipments from India—underscoring companies’ preparations for the White House’s tariffs.

“Trade uncertainty remains high, however, as U.S. importers evaluate their supply chains in the face of the August 1 implementation of reciprocal duties on over 60 countries, the August 7 start of India-specific tariffs and the universal copper tariff, and the October 15 expiration of the U.S.–China tariff truce,” Jackson Wood, director of industry strategy at Descartes, said in a statement.

The state of trade negotiations remains unclear after a planned visit by a U.S. trade delegation to New Delhi this week was canceled.

At a recent Economic Times forum in New Delhi, Indian Foreign Minister Subrahmanyam Jaishankar said that discussions are continuing, but there are policies that his government wishes to defend, particularly for farmers and small businesses.

“We have some redlines in the negotiations, to be maintained and defended,” he said. “It is our right to make decisions in our ‘national interest.’”

ING economists warn that India’s growth prospects are uncertain amid potential trade strife.

The consensus forecast suggests that India’s economy expanded by 6.6 percent in the second quarter, down from the 7.4 percent growth rate in the first three months of 2025.

“High-frequency indicators point to a moderation in both private consumption and investment. Additionally, higher-than-expected tariffs and rising uncertainty around India’s trade policy with the US are emerging as downside risks to the 2025 growth outlook,” the ING economists said in a note.

Policymakers are using the current trade situation with the United States as a measure to employ domestic reforms, such as changes to the goods and services tax. The government might also be hedging its geopolitical bets as leaders attempt to enhance relations with China.

Indian Prime Minister Narendra Modi is scheduled to meet with Chinese leader Xi Jinping later this week on the sidelines of the Shanghai Cooperation Organisation. This will be Modi’s first visit to China in seven years.

According to Joe Maher, assistant economist at Capital Economics, a 50 percent tariff “would be large enough to have a material impact on [gross domestic product] growth” for India.

“If it sticks, the resulting drop in exports to the US could reduce GDP growth by 0.8%-pts both this year and next,” Maher said in a note.

https://www.zerohedge.com/geopolitical/trumps-50-percent-tariff-india-takes-effect

Gabbard Drops 'Burn Bag' Bombshell: Intel Community Corruption Worse Than Anyone Thought

 Via VigilantFox.com,

As Director of National Intelligence, Tulsi Gabbard has spent months shaking Washington with bombshell after bombshell on the Russia Coup of 2017.

When Trump asked her to speak, she told him that the intel community’s corruption was worse than anyone thought.

She doubled down on her mission statement of transparency.

Gabbard:

“Mr. President, you have charged me with the mission of finding the truth and telling the truth to the American people, and we’ve exposed some of the worst examples of the weaponization of intelligence in the last several weeks.”

“I will continue down that mission and that path, wherever it leads. Transparency, telling the truth is what will drive true accountability for the American people who deserve nothing less.”

Then Trump dropped a jaw-dropper of his own.

He revealed that Gabbard’s team had recovered unburned “burn bags” stuffed with classified material tied to the 2020 election…and asked when the public would see them.

Trump: “And you’ve also found many bags of information, I think they call them burn bags. They’re supposed to be burned and they didn’t get burned having to do with how corrupt the 2020 election was, and when will that all come out?”

Gabbard:

“Mr. President, I will be the first to brief you once we have that information collected.”

“But you’re right - we are finding documents literally tucked away in the back of safes, in random offices, in these bags and in other areas, which, again, speaks to the intent of those who are trying to hide the truth from the American people and trying to cover up the politicization that was led by people like John Brennan and James Clapper and others that have caused immeasurable harm to the American people and to our country.”

Wow.

Transparency is FINALLY coming and what’s buried inside those bags could shake the nation.

https://www.zerohedge.com/political/gabbard-drops-burn-bag-bombshell-intel-community-corruption-worse-anyone-thought

Minneapolis says shooter ‘contained’ as police respond to gunfire at church

 A large law enforcement presence responded to a south Minneapolis church after residents reported hearing a lengthy burst of gunfire.

Follow live updates below:

9:53 a.m. - President Donald Trump posted on his Truth Social account that he has been briefed on the shooting.

“The FBI quickly responded and they are on the scene. The White House will continue to monitor this terrible situation. Please join me in praying for everyone involved!”

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9:47 a.m. - A woman who answered the school office phones declined to comment but said, “We are still in the process of getting our students checked out and reuniting them with their parents.”

9:45 a.m. - An Annunciation parent who was sitting in the back pew at the 8:15 a.m. Mass said students were packed into the pews when a shooter opened fire outside the building with some kind of semiautomatic weapon.

“He just pepper-sprayed through the stained-glass windows into the building, 50 to 100 shots,” said the parent, who did not want his name used. “He killed two kids.”

“This is terrible,” he said. ”This is evil. I don’t know how you defend against this.”

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9:35 a.m. - The city of Minneapolis said in an alert that there is “no active threat to the community at this time” and a “shooter is contained.”

https://www.startribune.com/minneapolis-shooting-annunciation-church/601462164