عربي English Türkçe اردو فارسى
Logo
Latest News
World

Italy's Eni to Pull Out of Russia-Turkey Pipeline

The logo on the headquarters of Italian oil and gas company Eni in San Donato Milanese, near Milan, Italy, Oct. 27, 2017. (AFP Photo)
The logo on the headquarters of Italian oil and gas company Eni in San Donato Milanese, near Milan, Italy, Oct. 27, 2017. (AFP Photo)
TT
TT

Italy's Eni to Pull Out of Russia-Turkey Pipeline

The logo on the headquarters of Italian oil and gas company Eni in San Donato Milanese, near Milan, Italy, Oct. 27, 2017. (AFP Photo)
The logo on the headquarters of Italian oil and gas company Eni in San Donato Milanese, near Milan, Italy, Oct. 27, 2017. (AFP Photo)

Italian oil giant Eni said Tuesday it would withdraw from the Blue Stream gas pipeline linking Russia to Turkey, in which it has a 50 percent stake.

"Eni intends to sell its stake" in Blue Stream, a company spokesman said, following moves by rivals BP and Shell to divest from Russia-linked projects after Moscow invaded Ukraine.

The company controls the gas pipeline -- which links the two countries via the Black Sea -- equally with Russian energy giant Gazprom.

"Eni's current presence in Russia is marginal" and joint ventures with Russian energy giant Rosneft linked to exploration licenses in the Arctic "have already been frozen for years" due to sanctions imposed on Russia since 2014, the spokesman said.

Russia launched an invasion of Ukraine on Thursday, triggering a wave of international condemnation and Western economic sanctions against Moscow, AFP said.

Shell announced on Monday it would sell its stake in all joint ventures with Gazprom, after Russia launched the operation.

That included its 27.5 percent share in the oil and gas project Sakhalin-2, on Sakhalin island in Russia's far east.

It would also end its 50 percent interests in the Salym oilfield development in western Siberia, and the Gydan exploration project in the Gydan peninsula, in northwest Siberia.

On Sunday, BP announced it was pulling its 19.75 percent stake in Rosneft, and chief executive Bernard Looney said he was resigning from the Russian company's board with immediate effect.

BP shares slumped on Monday, wiping billions of dollars from the company's value.

French energy giant TotalEnergies on Tuesday announced it would no longer provide capital for new projects in Russia but would not withdraw from current projects in which it was invested.

Russia is preparing a presidential decree aimed at preventing foreign investment exiting the country, its prime minister said Tuesday, after Moscow was hit by the barrage of sanctions.

"To enable businesses to make informed decisions, a draft presidential decree has been prepared to introduce temporary restrictions on exiting Russian assets," Prime Minister Mikhail Mishustin said.

Most Viewed

 
 
World

Erdogan Warns Black Sea Should Not Be 'Area of Confrontation' after Strikes

Turkish President Recep Erdogan addresses the media after the conclusion on the G20 Summit held at the Nasrec Expo Center in Johannesburg, South Africa, 23 November 2025. EPA/HALDEN KROG
Turkish President Recep Erdogan addresses the media after the conclusion on the G20 Summit held at the Nasrec Expo Center in Johannesburg, South Africa, 23 November 2025. EPA/HALDEN KROG
TT
TT

Erdogan Warns Black Sea Should Not Be 'Area of Confrontation' after Strikes

Turkish President Recep Erdogan addresses the media after the conclusion on the G20 Summit held at the Nasrec Expo Center in Johannesburg, South Africa, 23 November 2025. EPA/HALDEN KROG
Turkish President Recep Erdogan addresses the media after the conclusion on the G20 Summit held at the Nasrec Expo Center in Johannesburg, South Africa, 23 November 2025. EPA/HALDEN KROG

Turkish President Recep Tayyip Erdogan on Saturday warned that the Black Sea should not turn into an "area of confrontation" between Russia and Ukraine, after several strikes in recent weeks.

"The Black Sea should not be seen as an area of confrontation. This would not benefit Russia or Ukraine. Everyone needs safe navigation in the Black Sea," he was quoted as telling reporters aboard his plane, according to the official Anadolu news agency.

World

Indonesia Flood Death Toll Passes 1,000

The deadly torrential rains are one of the worst recent disasters to strike Sumatra. (AFP)
The deadly torrential rains are one of the worst recent disasters to strike Sumatra. (AFP)
TT
TT

Indonesia Flood Death Toll Passes 1,000

The deadly torrential rains are one of the worst recent disasters to strike Sumatra. (AFP)
The deadly torrential rains are one of the worst recent disasters to strike Sumatra. (AFP)

Devastating floods and landslides have killed 1,003 people in Indonesia, rescuers said Saturday as the Southeast Asian nation grapples with relief efforts.

The disaster, which has hit the northwestern island of Sumatra over the past fortnight, has also injured more than 5,400, the National Disaster Mitigation Agency said in its latest toll.

The deadly torrential rains are one of the worst recent disasters to strike Sumatra, where a tsunami wreaked havoc in 2004 in Aceh province, which lies at the northern tip of the island.

The final toll is expected to rise, with the disaster agency reporting 218 people are still missing.

With vast tracts of territory hit, 1.2 million residents have been forced to take refuge in temporary shelters.

Frustration has grown among flood victims, who have complained about the pace of relief efforts.

President Prabowo Subianto said Saturday the situation has improved, with several areas which had been cut off now accessible.

"Here and there, due to natural and physical conditions, there have been slight delays, but I checked all the evacuation sites: their conditions are good, services for them are adequate, and food supplies are sufficient," Prabowo said after visiting Langkat in North Sumatra province.

Costs to rebuild after the disaster could reach 51.82 trillion rupiah ($3.1 billion) and the Indonesian government has so far shrugged off suggestions that it call for international assistance.

World

Moscow, Tehran ‘Working Closely’ on Nuclear Program

Russian President Vladimir Putin and Iranian President Masoud Pezeshkian on the sidelines of the Peace Summit in Ashgabat, Turkmenistan, on Friday (Tasnim). 
Russian President Vladimir Putin and Iranian President Masoud Pezeshkian on the sidelines of the Peace Summit in Ashgabat, Turkmenistan, on Friday (Tasnim). 
TT
TT

Moscow, Tehran ‘Working Closely’ on Nuclear Program

Russian President Vladimir Putin and Iranian President Masoud Pezeshkian on the sidelines of the Peace Summit in Ashgabat, Turkmenistan, on Friday (Tasnim). 
Russian President Vladimir Putin and Iranian President Masoud Pezeshkian on the sidelines of the Peace Summit in Ashgabat, Turkmenistan, on Friday (Tasnim). 

Russian President Vladimir Putin said on Friday that relations between Moscow and Tehran are “developing very positively,” stressing that the two countries are working in close coordination at the United Nations on Iran’s nuclear program.

He made the remarks during talks with Iranian President Masoud Pezeshkian on the sidelines of the International Peace and Trust Summit in Ashgabat.

According to Russian media, Putin said Russia is cooperating with Iran at the Bushehr nuclear power plant and on major infrastructure projects, including the North–South Transport Corridor.

He added that the two sides are also exploring cooperation in the gas and electricity sectors.

Pezeshkian, quoted by Iranian and Russian media, reaffirmed Tehran’s commitment to implementing the comprehensive strategic partnership agreement with Moscow.

He said Iran is “determined to activate the agreement” and expects Russia to accelerate implementation of joint understandings, particularly in energy, transport and strategic transit corridors.

The Iranian president said Iran would complete its share of the groundwork for the North–South Corridor by the end of the year, noting growing economic and trade cooperation between the two countries.

He also called for strengthening multilateral partnerships within frameworks such as the Shanghai Cooperation Organization and BRICS to counter what he described as “unilateralism.”

Russia and Iran aim to expand economic ties through projects such as the International North–South Transport Corridor, a multimodal route linking northern and southern Asia via sea, rail and road networks.

The corridor is intended to speed up cargo transport between Russia and India through Iran and other countries while reducing costs compared with traditional routes. The project is seen as part of Moscow’s efforts to deepen trade links with Central Asia and Europe and to lessen reliance on longer maritime routes.

Putin said bilateral trade between Russia and Iran increased by 13 percent last year and by 8 percent in the first nine months of the current year, underscoring continued cooperation in energy and infrastructure. He added that coordination between Moscow and Tehran on international issues remains “close and ongoing.”

On the sidelines of the summit, Pezeshkian also met Pakistani Prime Minister Shehbaz Sharif, with both sides agreeing on the need to accelerate implementation of bilateral agreements and enhance cooperation in transport, transit, energy and border infrastructure, according to Iran’s Mehr News Agency.