IBT Staff Reporter

European Union leaders are set to agree in principle to ban oil imports from Russia at a summit on Monday and Tuesday in Brussels, but after weeks of haggling they will leave decisions on how it will work for later, diplomats said.

European Union leaders will fail to agree on a Russian oil ban at a summit on Monday and Tuesday in Brussels, leaders said as they arrived, adding that weeks of haggling over the matter were not over even if they were hopeful for a deal later.

EU countries failed to agree on a Russian oil import ban despite last-minute haggling before a summit got under way in Brussels on Monday, exposing a struggle to widen sanctions on Moscow over its war in Ukraine as the economic risk for Europe grows.

EU leaders on Monday made clear they would fail to agree on a Russian oil import ban at a summit in Brussels, prompting swift criticism from Ukrainian President Volodymyr Zelenskiy who chastised them for being too soft on Moscow.

European Union leaders said they had agreed on Monday to cut 90% of oil imports from Russia by the end of this year, resolving an impasse over the bloc's toughest sanction yet on Moscow since the invasion of Ukraine three months ago.

European Union leaders agreed in principle on Monday to cut 90% of oil imports from Russia by the end of this year, resolving a deadlock with Hungary over the bloc's toughest sanction yet on Moscow since the invasion of Ukraine three months ago.

The dollar nursed last week's losses on Monday and was headed for its first monthly drop in five months as investors have scaled back bets that rising U.S.

The U.S. dollar resumed its slide on Monday as risk appetite across markets tentatively strengthened, supported by encouraging economic data and bets that the Federal Reserve will tighten policy at a slower pace.

Ex-guerilla, millionaire maverick in race for Colombian presidency

World shares rose on Monday and the dollar was pinned near five-week lows on hopes of an eventual slowdown in U.S.

World share markets rose on Monday and the dollar was anchored at five-week lows on bets of a possible slowdown in U.S.

Australia's top power producer AGL Energy on Monday ditched plans to split the company and said its chairman and CEO would step down, caving in to opposition from billionaire climate activist and top shareholder Mike Cannon-Brookes.

Australia's top power producer AGL Energy on Monday ditched plans to split the company and said its chairman and CEO would step down, caving in to opposition from billionaire climate activist and top shareholder Mike Cannon-Brookes.

China's 'zero-COVID' policy of constantly monitoring, testing and isolating its citizens to prevent the spread of the coronavirus has battered much of the country's economy, but it has created bubbles of growth in the medical, technology and construction sectors.

Over 100 people are missing or confirmed dead in Brazil, the government said on Sunday, as mudslides and major floods brought about by heavy rains tore through several urban neighborhoods in the northeastern part of the country.

Dozens of migrants performed an opera in the Mexican border city of Tijuana on Saturday aimed at dramatizing the struggles of those who seek to reach the United States.

The "liberation" of Ukraine's Donbas region is an "unconditional priority" for Moscow, while other Ukrainian territories should decide their future on their own, Russian Foreign Minister Sergei Lavrov said on Sunday.

Death toll mounts from Brazil downpours as search continues

EU struggles to break deadlock on Russian oil ban before summit

By Rebecca RubinLOS ANGELES (Variety.com) - Tom Cruise may have pulled off one of the most daring stunts of his career -- getting audiences to go to the movies for something that doesn't involve superheroes.

Telecom Italia (TIM) and Italian state investor CDP have signed a preliminary agreement to combine the phone group's fixed network assets with those of state-owned broadband rival Open Fiber, they said late on Sunday.

Telecom Italia (TIM) and state lender CDP said late on Sunday they had signed a preliminary accord to pave the way for a single broadband network, as the country's former phone monopoly works to hive off its landline grid.

Nadal, Djokovic set up French Open quarter-final clash as Alacaraz cruises

Sweden's Marcus Ericsson survived a two-lap shootout to win a dramatic Indianapolis 500 on Sunday, as the Brickyard reclaimed the mantle of the world's biggest single day sporting event, living up to its billing as the 'Greatest Spectacle in Racing".

Sweden's Marcus Ericsson prevailed in a two-lap shootout to win a dramatic Indianapolis 500 on Sunday as the Brickyard reclaimed the mantle of the world's biggest single day sporting event, living up to its billing as the 'Greatest Spectacle in Racing".

Sweden's Marcus Ericsson prevailed in a two-lap shootout to win a dramatic Indianapolis 500 on Sunday as the Brickyard reclaimed the mantle of the world's biggest single day sporting event, living up to its billing as the 'Greatest Spectacle in Racing".

Nepal's economy is expected to expand by 5.8% in the current financial year ending mid-July, helped by a pick-up in economic activity following a fall in COVID-19 cases, the finance minister said on Sunday.

Sri Lanka's Prime Minister Ranil Wickremesinghe said on Sunday his government was working on amending the constitution to make the president and cabinet accountable to parliament.

Sri Lankan Prime Minister Ranil Wickremesinghe said on Sunday his government was working to make the president and cabinet accountable to parliament, after weeks of street protests triggered by the country's worst economic crisis in decades.