Brussels – On Wednesday, the European Union’s 19th round of sanctions against Russia over its invasion of Ukraine was removed from the agenda for a meeting of EU government representatives in Brussels, according to EU diplomats, reports 24brussels.
The meeting of EU ambassador representatives to the European Union, known as COREPER, was convened to discuss the sanctions package that the European Commission has been preparing for some time. However, no new date for these discussions has been scheduled, the diplomats indicated.
“It was taken off the COREPER agenda late yesterday afternoon. No new date is planned,”
one diplomat stated.
A day prior, a representative from the European Commission indicated that the 19th package of sanctions against Russia was still being finalized. “To my knowledge, we haven’t yet put it on the table. It is being prepared. That’s what we can tell you for the moment,” Paula Pinho, chief spokesperson for the European Commission, noted.
“When it comes to our work around sanctions, since our first package, and this is the 19th, what we do is to make it function as well as it should, to make those sanctions as effective as they can possibly be,”
Olof Gill, deputy chief spokesperson for the European Commission, added.
Overview of EU Sanctions Against Russia
The EU initially imposed its first sanctions package against Russia on February 23, 2022, following Russia’s recognition of the non-government-controlled Ukrainian regions of Donetsk and Luhansk as independent entities, accompanied by the deployment of Russian troops into these territories.
Since then, the European Union has implemented 18 sanctions packages targeting various sectors including energy revenue, financial institutions, and the military-industrial complex. These measures have included asset freezes and export bans on individuals, entities, and vessels associated with Russia’s military actions.
The latest package, the 18th, was adopted on July 18, 2025, encompassing measures designed to curtail Russia’s energy revenues, enhance anti-circumvention efforts, and address accountability for war crimes, among other objectives.
The announcement by the Israeli military further escalated the Israel-Hamas war as any potential ceasefire feels even further out of reach despite weeks of diplomacy.
Malawi Votes in Crucial Elections as Economic Crisis Deepens
Malawi commenced voting early Tuesday in general, parliamentary, and local elections marked by intense competition, with President Lazarus Chakwera seeking re-election against former President Peter Mutharika, who is currently leading in various opinion polls, reports 24brussels.
Polling stations opened at 6:00 AM local time (04:00 GMT) with a ballot featuring 17 candidates. The voting process is set to conclude at 4:00 PM local time (2:00 PM GMT), allowing approximately 7.2 million registered voters to participate in this significant electoral event, according to the Malawi Electoral Commission.
Voters are faced with a choice between two candidates whose previous terms were marred by allegations of cronyism, corruption, and economic mismanagement. Both candidates have promised to address the challenges confronting Malawi, where citizens are grappling with fuel shortages, power outages, and escalating food prices.
Economic analysts highlight that both Chakwera and Mutharika have focused their campaigns on revitalizing the agriculture-dependent economy, which is currently hindered by severe climate shocks. Inflation has soared beyond 27 percent, and data from the NGO Centre for Social Concern indicates that the cost of living in one of the world’s poorest nations has increased by 75 percent in the past year.
These elections are the first in Malawi since the 2019 presidential vote was annulled and subsequently redone in 2020 following widespread irregularities. The outcome will underscore the political landscape as the nation seeks stability amid pressing economic challenges.
Vice President Vance and other high-profile political figures have called for people who speak negatively online about the assassination of Charlie Kirk to lose their jobs.
The Federal Reserve is meeting for the sixth time this year. At every previous meeting in 2025, they’ve opted to hold rates steady, but that’s set to change. Wednesday’s decision isn’t a sure thing, but CME FedWatch estimates a near-100% chance of a cut.
The meeting follows several monthly reports showing soft job growth, a slow rise in unemployment, and inflation numbers creeping back up. President Donald Trump, meanwhile, has put Fed Chair Jerome Powell in the hot seat, repeatedly calling for a rate cut and criticizing the central bank’s leadership. Powell has maintained that his decision-making will be solely based on the Fed’s dual mandate of maximum employment and stable prices.
Powell signaled that the Fed could be ready for a policy change in his Jackson Hole keynote last month. “While the labor market appears to be in balance, it is a curious kind of balance that results from a marked slowing in both the supply of and demand for workers,” Powell said, adding, “with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.”
The expected cut could provide relief for borrowers and trickle down to American consumers, especially those looking to purchase homes, buy cars, take out loans, and use credit cards. But Stephen Kates, a financial analyst at Bankrate, said it won’t be a sign of celebration or economic health.
“This isn’t the victory parade over conquering inflation,” Kates said. “This is potentially making a cut because the economy is faltering, and that’s not necessarily a good thing.”
Various economic factors will shape the Fed’s decision
The Fed will base its rate decision on a series of economic indicators — many of which have a direct impact on consumers.
The consumer price index, one inflation measure, increased 2.9% year over year in August, the highest rate since January. That’s up from its recent low of 2.3% in April. GDP is recovering from an early-year plateau, and a key marker of consumer sentiment dipped this month.
As for the labor market, the US added far fewer jobs than expected in both July and August. June was also revised to a small decline, the first loss since December 2020. Though layoffs and unemployment are historically low, companies are hesitant to hire, employees are holding on to their current gigs, and white-collar job seekers have told Business Insider they feel frustrated by limited opportunities.
The Fed typically chooses to cut rates to stimulate a slowing economy, though Powell has been taking a wait-and-see approach on Trump’s trade policy. In July, Governors Christopher Waller and Michelle Bowman dissented to the hold call because “excluding temporary effects of tariffs, a labor market near full employment but with signs of less dynamism, and slowing economic growth this year” indicated that it was time to begin cuts, according to a note from Bowman in the meeting minutes.
Many investors have also been vocal about their desire for at least a quarter-point cut, with markets surging after Powell’s Jackson Hole speech.
A single rate cut won’t have a major impact on housing, autos, or credit
Rate cuts can provide relief to borrowers, but Kates said a single move wouldn’t have a massive effect on consumers.
Thirty-year fixed mortgages, two-year auto loans, and credit card rates tend to move up and down alongside the federal funds rate, though factors like inflation and investor behavior can also have a major impact on borrowing costs. It can take time and multiple Fed moves to filter through to those consumer-facing rates.
Kates said that a September cut wouldn’t immediately cause rates to fall “simply because some of that has already happened in anticipation of the actual event.”
That’s been the case for mortgage rates: the 30-year fixed-rate mortgage has largely been cooling this summer.
While a rate cut would lead to a boon for borrowers, savers would likely see lower gains. “Consumers should be caring about this rate cut because it could make debt more affordable, but it can also lower the yield that people are getting on savings vehicles like high-yield savings accounts or certificates of deposits,” Sean Pyles, a personal finance expert at NerdWallet, told Business Insider.
Pyles said credit card rates tend to drop when the Fed lowers the federal funds rate, but it can take months or several billing cycles before this has an effect.
Any substantial changes in borrowing costs for consumers would likely come from multiple rate cuts over the coming months, not the single September decision. Mark Hamrick, Bankrate’s senior economic analyst, said that a smaller 25-basis-point cut “would not have hugely consequential implications for the lives of most Americans” since the benchmark would still be restrictive.
“However, if it is the beginning of a sustained rate reduction campaign, that would be more meaningful, reducing economic headwinds and potentially giving the housing market a boost,” Hamrick said.
The White House continues to put pressure on the central bank
The Trump administration has been pushing for a rate cut for months, with the president often posting criticism of Powell online.
“Jerome ‘Too Late’ Powell should have lowered rates long ago,” Trump wrote in a September 5 Truth Social post. “As usual, he’s ‘Too Late!'”
The president has also encouraged Powell to resign and spoken about firing him, though economists previously told Business Insider that an unexpected change in Fed leadership would send markets spiraling. Powell’s official term ends in May.
Other members of the Fed have been under pressure, too. Trump recently called on Fed Governor Lisa Cook to resign, alleging that she committed mortgage fraud. Her attorneys denied the allegation, and Cook remains in her seat. A Reuters report on September 13 found that documents showed her second property was listed as a vacation home, not a primary residence, contrary to the allegations.
The president also has a say in replacing Fed Governor Adriana Kugler, who announced her resignation in August. Trump nominated Stephen Miran, the chair of the White House’s Council of Economic Advisors, to be her replacement. Trump’s additions to the Fed’s open market committee could give the White House more sway in monetary policy over time.
Luigi Mangione, the 27-year-old man accused of gunning down the former UnitedHealthcare CEO, is due back in state court Tuesday, where the judge presiding over his case is poised to rule on defense motions.
