Iran and Ukraine Loom over G7 as France Accommodates Trump

FILE PHOTO: A drone views shows the Evian Resort hotel overlooking Lake Geneva (Leman) where the 2026 G7 summit will take place in Evian-les-Bains, France, September 12, 2025. REUTERS/Denis Balibouse/File Photo
FILE PHOTO: A drone views shows the Evian Resort hotel overlooking Lake Geneva (Leman) where the 2026 G7 summit will take place in Evian-les-Bains, France, September 12, 2025. REUTERS/Denis Balibouse/File Photo
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Iran and Ukraine Loom over G7 as France Accommodates Trump

FILE PHOTO: A drone views shows the Evian Resort hotel overlooking Lake Geneva (Leman) where the 2026 G7 summit will take place in Evian-les-Bains, France, September 12, 2025. REUTERS/Denis Balibouse/File Photo
FILE PHOTO: A drone views shows the Evian Resort hotel overlooking Lake Geneva (Leman) where the 2026 G7 summit will take place in Evian-les-Bains, France, September 12, 2025. REUTERS/Denis Balibouse/File Photo

Wars in the Middle East and Ukraine are set to dominate next week’s Group of Seven summit, as host France crafts an agenda aimed at projecting unity and avoiding confrontation with US President Donald Trump.

The June 15–17 gathering in Evian-les-Bains, on the shore of Lake Geneva, brings together the leaders of France, Britain, Canada, Germany, Italy, Japan and the United States, alongside the European Union, Reuters said.

With Trump struggling to end a war that has disrupted the global economy, and frustrated with European allies he deems to have failed him in the Gulf and grown over-reliant on the US for their security needs, diplomats say crisis management will be the focus.

No breakthrough decisions are thus expected on key issues, which also include tackling global economic imbalances and sourcing critical minerals outside China.

The grouping, founded half a century ago, has traditionally addressed economic and geopolitical challenges with broad consensus. But that cohesion has frayed since Trump returned to the White House in 2025.

Having already shifted the dates to accommodate Trump's birthday plans for cage fighting on the White House lawn, French officials, like other recent summit hosts, have set ‌the bar low, suggesting it ‌will be a success if Trump just stays for the whole event, having left the 2025 ‌version ⁠early.

"Macron has gone ⁠out of his way to have an agenda that is designed to appeal to the sort of things President Trump wants," said Josh Lipsky, chair of international economics at the Atlantic Council.

TRUMP'S MOOD MAY DEPEND ON IRAN

The tempo may be dictated by events in the Middle East. A fragile ceasefire between the US and Iran is under strain, and securing even an interim accord that delays tackling harder issues such as Iran's nuclear program is proving arduous.

Trump wants Iran to reopen the Strait of Hormuz, a choke point for global oil and gas shipments. Tehran is demanding that the US end its blockade on Iranian ports and release frozen Iranian assets, and that Israel cease its attack on the Iranian-backed Hezbollah militia in Lebanon.

Diplomats say Trump’s mood may hinge on ⁠whether he can get an accord done before the summit. In recent months, he has lashed out at ‌some of the US's closest allies in NATO for their unwillingness to support his Gulf ‌campaign.

One senior diplomat from a G7 member said an accord might allow the group to put months of tension with the US behind them.

France has invited ‌Saudi Arabia, the United Arab Emirates and Qatar, all directly harmed by the war, to the summit along with Egypt, a key player ‌in mediation efforts.

EUROPEANS SEEK US RESET ON UKRAINE

Also invited is Ukrainian President Volodymyr Zelenskiy.

Negotiations to end Russia’s war in Ukraine have stalled and Zelenskiy wants a fresh push and is pressing for Europe to play a bigger role.

Zelenskiy frets that the conflict in Iran has diverted US attention. Meanwhile, dynamics on the battlefield have shifted, with Ukrainian drones striking deeper into Russian territory to cut battlefield supply lines and hobble energy infrastructure.

European diplomats see the summit as an opportunity to convince Trump ‌that US proposals for a deal have been too favorable to Moscow. European nations also want to signal that they are willing to engage Moscow while tightening sanctions and boosting military support for Ukraine, ⁠emphasizing that they believe Russia, not ⁠Kyiv, is blocking progress.

"What we are increasingly seeing is Europeans beginning to think about a life with less America,” said Victor Cha, head of geopolitics and foreign policy at Washington's Center for Strategic and International Studies.

GLOBAL IMBALANCES PUT SPOTLIGHT ON CHINA

French officials have dropped plans for a sweeping final communique, opting instead for narrower joint statements on areas such as critical minerals, migration and drug trafficking.

Asuka Tatebayashi, senior analyst at Mizuho Bank in Tokyo, said the Japanese government and its major companies had for more than a decade built up stockpiles of critical minerals and shown they could weather supply shocks.

“It's one of the few fields that the US actually comes to Japan for advice on,” Tatebayashi said.

She urged the G7 to agree to a substantive initiative on critical minerals such as minimum pricing, sharing of stockpiles or joint development projects, but said the differences among them were still wide.

Paris has used its presidency to push for action on global macroeconomic imbalances, a longstanding US concern, before Washington takes the chair of the G20 this year and the G7 next.

France has framed the issue as a shared responsibility in that China overproduces, the United States overconsumes and Europe underinvests.

Brazil, India, Kenya and South Korea have been invited to the G7 to join the discussion, while Macron has urged China to boost its own consumption.

"None of that solves the problem, but the first step is recognizing that you have one,” Lipsky said. “This has been discussed for years, but not collectively within the G7."



FBI Accuses NKorea of Standing Behind $6 Billion Crypto Theft from Binance

A smartphone with displayed Binance logo and representation of cryptocurrencies are placed on a keyboard in this illustration (Reuters)
A smartphone with displayed Binance logo and representation of cryptocurrencies are placed on a keyboard in this illustration (Reuters)
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FBI Accuses NKorea of Standing Behind $6 Billion Crypto Theft from Binance

A smartphone with displayed Binance logo and representation of cryptocurrencies are placed on a keyboard in this illustration (Reuters)
A smartphone with displayed Binance logo and representation of cryptocurrencies are placed on a keyboard in this illustration (Reuters)

The FBI on Saturday accused North Korea of stealing more than $6 billion in virtual assets from the cryptocurrency exchange Binance in what is thought to be the biggest-ever crypto heist.

Malicious actors from North Korea were observed laundering the stolen assets by ⁠converting them into ethereum, said the FBI, adding that ⁠it expects “further laundering stages” for the stolen ⁠digital assets.

The US law enforcement agency's statement came as Binance offered reassurances it was covering the losses from the hacking attack, saying it has used company funds to buy tokens to replenish 90% of what was stolen.

Binance is the world's largest crypto exchange by daily trading volumes.

News of the cyberattack caused the prices of most major cryptocurrencies to fall sharply on Friday.

The FBI confirmed earlier suspicions from private investigators and analysts that a North Korea-affiliated group called TraderTraitor was behind the hack.

TraderTraitor is the same group blamed for a $1.5 billion theft from the Bybit platform in February last year.

“The Federal Bureau of Investigation (FBI) is releasing information advising the Democratic People's Republic of Korea (North Korea) was responsible for the theft of more than $6 billion USD in virtual assets from cryptocurrency exchange Binance, on or about October 29, 2026,” the statement said.

The FBI added that it had observed “TraderTraitor actors” converting stolen assets into Ethereum, and expected those assets to be laundered further by converting them using decentralized finance and instant swap services.

It said it was urging private sector entities “to block transactions with or derived from addresses TraderTraitor actors are using to launder these stolen assets.”

US President Donald Trump, however, cast doubt on the North Korea's involvement in the hack.

“I'm not concerned. We're learning about it. We don't know if it's North Korea,” Trump told reporters at his residence in Florida late Saturday.

The president often reflects with pride on summits he held with North Korean leader Kim Jong Un during his first term.

Binance said Saturday it has set aside more than $6.34 billion in company funds to cover losses in the hack.

“Our commitment remains the same: Binance will fully cover the financial impact of the funds stolen in this incident,” the company said on X.

It said it has used company money to buy tokens to replenish 90 percent of the stolen funds, while the remaining 10% of tokens are “less liquid, which means they may take longer to source in the required amounts.”

Binance suspended user withdrawals after the hack, but said in its latest update they were on track to resume Sunday.

The attack on Binance came as many observers express worries that the ever-expanding capabilities of artificial intelligence models could compromise cryptography and IT security protocols.

Bitcoin plunged nearly 5% after the news of the hack, while Ethereum dropped nearly six percent and BNB, native to Binance, tumbled nearly 10%.

Binance said Friday it was working to resolve what it called a “complex attack” with several “points of breach.”

The sheer scale of the hack has put a spotlight on the capacity of North Korea -- which faces extensive international sanctions over its nuclear and missile programs -- to find illicit means to capture revenue.

TraderTraitor is believed to be part of the Lazarus Group, which gained notoriety in 2014 when it was accused of hacking into Sony Pictures as revenge for “The Interview,” a film that mocked North Korean leader Kim.


Erdogan Takes Russia, Ukraine to Task Over Black Sea Attacks

Turkish President Recep Tayyip Erdogan and Ukrainian President Volodymyr Zelensky shake hands during a press conference in Istanbul, Türkiye, October 31, 2026. (Reuters)
Turkish President Recep Tayyip Erdogan and Ukrainian President Volodymyr Zelensky shake hands during a press conference in Istanbul, Türkiye, October 31, 2026. (Reuters)
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Erdogan Takes Russia, Ukraine to Task Over Black Sea Attacks

Turkish President Recep Tayyip Erdogan and Ukrainian President Volodymyr Zelensky shake hands during a press conference in Istanbul, Türkiye, October 31, 2026. (Reuters)
Turkish President Recep Tayyip Erdogan and Ukrainian President Volodymyr Zelensky shake hands during a press conference in Istanbul, Türkiye, October 31, 2026. (Reuters)

Türkiye’s President Recep Tayyip Erdogan said on Saturday attacks aimed at civilian vessels in the Black Sea were unacceptable, urging Russia and Ukraine to "act responsibly".

Despite its ties with both Russia and Ukraine, Türkiye has been infuriated by the attacks on commercial vessels in the Black Sea.

"It is clear that attacks against civilian vessels and actions that further escalate tensions in the Black Sea serve no one's interests," Erdogan told a news conference with Ukraine's President Volodymyr Zelensky in Istanbul.

"We cannot accept these attacks under any circumstances, regardless of who carries them out or what justification is offered. We call on all parties to act responsibly on this matter," he said.

Ankara has sent a proposal to Russia and Ukraine to end strikes on civilian ships, but says the two foes have failed to act on it.

"We will continue our talks with the parties concerned with a view to restoring the safety of navigation in the Black Sea," the Turkish leader said.

"I believe that reaching an agreement on this issue would also give fresh impetus to efforts to secure lasting peace in Ukraine."

Türkiye has also hosted several rounds of talks between Russia and Ukraine aiming for a lasting ceasefire and peace deal.

In a phone call with US President Donald Trump on Wednesday, Erdogan said Türkiye was ready to support efforts to revive the diplomatic process between Ukraine and Russia and bring the war to an end through negotiations, according to the Turkish leader's office.


Rubio Says US Yet to Decide on New Iran Strikes

Iranian people walk past a mural depicting late Iranian supreme leader Ali Khamenei, in a street of Tehran, Iran, 31 October 2026. (EPA)
Iranian people walk past a mural depicting late Iranian supreme leader Ali Khamenei, in a street of Tehran, Iran, 31 October 2026. (EPA)
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Rubio Says US Yet to Decide on New Iran Strikes

Iranian people walk past a mural depicting late Iranian supreme leader Ali Khamenei, in a street of Tehran, Iran, 31 October 2026. (EPA)
Iranian people walk past a mural depicting late Iranian supreme leader Ali Khamenei, in a street of Tehran, Iran, 31 October 2026. (EPA)

US President Donald Trump has not made a decision about fresh strikes on Iran amid stalled peace talks, US Secretary of State Marco Rubio said Saturday.

"We can achieve military objectives if we seek to," Rubio told a press conference in Atlanta, Georgia, where he was hosting G20 foreign ministers for a two-day meeting.

But Rubio added that Trump "hasn't made a decision" on further military action, amid reports that the US leader could attack after key midterm elections on Tuesday.

"I have no announcement in that regard with you today, and nor do we take any of it lightly," Rubio said.

While he slammed Tehran for "actively and openly" targeting commercial vessels for attack, Rubio also expressed Trump's preference for a diplomatic solution to end war with Iran.

But he did not commit to a timeline for talks.

"I'm not going to characterize neither the progress on those talks nor any timeframe on it, other than to tell you that if there is a diplomatic solution, we would be open to it," Rubio said.

Iran's supreme leader on Saturday warned the United States and Israel against launching new attacks, following threats to resume strikes after crucial elections.

Trump earlier warned of the potential for fresh military action after US midterms, saying previously that he was weighing up whether to "finish them off."

But any further attack would spark concern among US allies.

On Thursday, EU foreign policy chief Kaja Kallas told AFP: "We are calling for a diplomatic solution, and really, escalation does not benefit anyone."