At COP30 in Belém, Brazil (2025-11-10 to 2025-11-21), negotiations have intensified as small island states demand nations "honour the 1.5 °C limit," the U.S. federal government—marking the first time America sent no delegation—declined official participation, and delegates debate the Baku-to-Belém Roadmap to align nations behind a $1.3 trillion-per-year climate finance target; concurrently, U.S. sanctions on Rosneft and Lukoil and the EU’s 19th package—banning Russian LNG (effective 2027 for long-term contracts, six months for short-term)—have raised energy-market uncertainty, pushing prices up and heightening supply-risk concerns. Parties are pressing for $125–150 billion annually in climate finance and for tools like border carbon adjustments and emissions trading. Immediate next steps include finalizing the Roadmap, decisions on fossil-fuel subsidy phase-outs and NDC verification, monitoring any U.S. federal re-entry, and watching energy-sector responses to sanctions, which will shape whether coalitions convert commitments into enforceable action.