While many big name philanthropists are backing away from climate giving, Michael Bloomberg, the former New York City mayor and founder of Bloomberg L.P., has announced $590 million in new environmental commitments. Some $285 million will go to efforts accelerating the transition away from fossil fuels and toward renewable energy at a moment when the Iran conflict is rattling energy markets. Bloomberg Philanthropies said it would do this by supporting renewable energy industry associations, providing data and analysis on the industry and advising regulators and grid operators. NY Times

The Trump administration announced a plan for billions of dollars in federal loans aimed at spurring the country’s largest build-out of nuclear power plants in more than three decades. The complex and unusual strategy, which would be overseen by the Energy Department, would provide up to $17.5 billion in low-cost loans to help electric utilities buy expensive components that could be used in up to 10 new AP1000 nuclear reactors, a large type of reactor designed by Westinghouse. NY Times

Venezuela claims to have more than 300 billion barrels in the ground, the largest reserves of oil of any country. But it struggles to produce about one million barrels a day, or around 1 percent of global production. In addition, much of Venezuela’s oil is extra heavy, making it polluting and expensive to process. The New York Times

In 2025, statutory tariff rates on U.S. imports rose to levels not seen in over one hundred years. This working paper shows that the tariff rate importers have paid is significantly lower than the tariff figures that Mr. Trump announced. The reasons include exemptions for specific countries and industries, rates that were lowered for some goods by the time they arrived in the U.S. and evasion of the rules by some companies. The New York Times Working Paper: The Incidence of Tariffs: Rates and Reality

Did the United States and its allies, through excess of optimism or naïveté, simply get Mr. Putin wrong from the outset? Or was he transformed over time into the revanchist warmonger of today, whether because of perceived Western provocation, gathering grievance, or the giddying intoxication of prolonged and — since Covid-19 — increasingly isolated rule? The New York Times

All of the Economist’s coverage of the war in one place. The Economist

Satellite data shows nitrogen dioxide emission declines are more modest than during first wave of restrictions. Financial Times

The International Consortium of Investigative Journalists‘ 2020 investigation, FinCEN Files, shows how big banks have profited from serving shadowy characters even after authorities fined them for earlier failures. ICIJ