Europe

European Union leaders have promised to take over the role of being the world’s Superpower after America collapses following Donald Trump’s presidency.  According to Maltese prime minister Joseph Muscat, Trump’s isolationist policies will give Europe the “opportunity for leadership it has always craved” on the world’s stage. Express.co.uk reports: He claimed countries around the world will be “looking” to Brussels for leadership in the aftermath of Mr Trump’s shock victory, which has been followed by a slew of controversial policy announcements.

Submitted by Irina Slav via OilPrice.com,

The recent National Intelligence Council report assessing the involvement of Russia in last year’s U.S. presidential elections spurred a flurry of media reports suggesting that Russia is heavily involved in anti-fracking campaigning. Some authors interpreted this involvement as a “propaganda effort”, while others claimed the Kremlin was financially backing anti-fracking groups in the U.S., without, however, providing any evidence for this claim.

One of the more troubling geopolitical stories in the past week has been the renewed flaring of fighting in Eastern Ukraine, which culminated yesterday with Kiev accusing Moscow of shooting at its military transport airplane while flying over the Black Sea, an allegation Moscow denied. To some, this has been a test by Putin to gauge US resolve in condemning what the western media is quick to dub Russian provocations; to others this is merely the sad continuation of events unleashed with the violent presidential coup in Ukraine two years ago.

European shares and S&P futures fell amid mixed earnings from corporate heavyweights, while Asian stocks were fractionally higher. The dollar slump continued against all its major peers after the Federal Reserve gave dollar bulls little to be optimistic about.  The U.S. currency dropped toward the lowest close since November after the Fed reiterated its intention on Wednesday to lift rates only gradually.