عربي English Türkçe اردو فارسى
Logo
Latest News
World

EU Hits Russia with Sweeping New Sanctions over Ukraine War

Workers clear debris and rubble from the street following a major overnight Russian attack in Kyiv on July 10, 2025, amid the Russian invasion of Ukraine. (Photo by OLEKSII FILIPPOV / AFP)
Workers clear debris and rubble from the street following a major overnight Russian attack in Kyiv on July 10, 2025, amid the Russian invasion of Ukraine. (Photo by OLEKSII FILIPPOV / AFP)
TT
TT

EU Hits Russia with Sweeping New Sanctions over Ukraine War

Workers clear debris and rubble from the street following a major overnight Russian attack in Kyiv on July 10, 2025, amid the Russian invasion of Ukraine. (Photo by OLEKSII FILIPPOV / AFP)
Workers clear debris and rubble from the street following a major overnight Russian attack in Kyiv on July 10, 2025, amid the Russian invasion of Ukraine. (Photo by OLEKSII FILIPPOV / AFP)

The EU on Friday adopted a sweeping new package of sanctions on Russia over the Ukraine war, looking to pile more pressure on the Kremlin by lowering a price cap for Moscow's oil exports.

The 18th round of economic measures from Europe against Russia since its 2022 invasion comes as allies hope US President Donald Trump follows through on his threat to punish Moscow for stalling peace efforts.

"The EU just approved one of its strongest sanctions packages against Russia to date," AFP quoted EU foreign policy chief Kaja Kallas as saying.

"The message is clear: Europe will not back down in its support for Ukraine. The EU will keep raising the pressure until Russia ends its war."

Ukrainian President Volodymyr Zelensky hailed the sanctions' adoption as "essential and timely".

The new measures were approved after Slovakia dropped a weeks-long block following talks with Brussels over separate plans to phase out Russian gas imports.

Kremlin-friendly Slovakian leader Robert Fico -- whose country remains dependent on Russian energy -- dropped his opposition after getting what he called "guarantees" from Brussels over future gas prices.

France's foreign minister Jean-Noel Barrot called the latest moves "unprecedented" and said that together with the United States we will force (Russian President) Vladimir Putin into a ceasefire".

As part of the new sanctions designed to sap Russia's war chest, diplomats said the EU has agreed to lower its price cap on Russian oil exported to third countries around the world, to 15 percent below market value.

That comes despite EU allies failing to convince US President Donald Trump to go along with the plan.

The cap is a G7 initiative aimed at limiting the amount of money Russia makes by exporting oil to countries across the globe such as China and India.

Set at $60 by the G7 in 2022, it is designed to limit the price Moscow can sell oil around the world by banning shipping firms and insurance companies dealing with Russia to export above that amount.

The EU has largely already cut off its imports of Russian oil.

Under the new EU scheme -- which is expected to get the backing of G7 allies like Britain and Canada -- the new level will start off at $47.6 and can be adjusted as oil prices change in the future.

EU officials admit that the scheme will not be as effective without US involvement.

In addition, officials said the EU is blacklisting over 100 more vessels in the "shadow fleet" of ageing tankers used by Russia to circumvent oil export curbs.

There are also measures to stop the defunct Baltic Sea gas pipelines Nord Stream 1 and 2 from being brought back online.

Among other targets, sanctions will be placed on a Russian-owned oil refinery in India and two Chinese banks as the EU seeks to curb Moscow's ties with international partners.

There is also an expanded transaction ban on dealings with Russian banks and more restrictions on the export of "dual-use" goods that could be used on the battlefield in Ukraine.

The latest round of EU measures comes after Trump on Monday threatened to hit buyers of Russian energy with massive "secondary tariffs" if Russia doesn't halt the fighting in 50 days.

The move from Trump represented a dramatic pivot from his previous effort of rapprochement with the Kremlin, as he said his patience was running out with Putin.

The multiple rounds of international sanctions imposed on Moscow in the three-and-a-half years since its invasion have failed so far to cripple the Russian economy or slow its war effort.

But Western officials argue that despite Russia's economy largely weathering the punishment to this point, key economic indicators such as interest rates and inflation are getting worse.

Most Viewed

 
 
World

US Treasury Chief Blames Commerce Dept for Failure in Nvidia Scandal

US Treasury Secretary Scott Bessent speaks during the National Committee on US-China Relations 60th Anniversary Gala Dinner in New York City, US, November 10, 2026. (Reuters)
US Treasury Secretary Scott Bessent speaks during the National Committee on US-China Relations 60th Anniversary Gala Dinner in New York City, US, November 10, 2026. (Reuters)
TT
TT

US Treasury Chief Blames Commerce Dept for Failure in Nvidia Scandal

US Treasury Secretary Scott Bessent speaks during the National Committee on US-China Relations 60th Anniversary Gala Dinner in New York City, US, November 10, 2026. (Reuters)
US Treasury Secretary Scott Bessent speaks during the National Committee on US-China Relations 60th Anniversary Gala Dinner in New York City, US, November 10, 2026. (Reuters)

US Treasury Secretary Scott Bessent on Friday blamed the Commerce Department for failing to blacklist Megaspeed, the Singapore company at the center of a scandal that prompted Nvidia chief executive Jensen Huang to resign.

Speaking on CNBC, Bessent said Treasury, the Defense Department, the US Trade Representative's office and the State Department had backed adding Megaspeed to the Washington's trade blacklist, "for months."

"But Commerce has the pen," Bessent said. "You will have to ask them about their internal processes."

He said he was "frustrated" because President Donald Trump "made it very clear that China should not receive any Nvidia chips above H100s."

"Any leakage is very frustrating because it hurts our great companies, and in the AI race gives the Chinese an advantage," he said.

The remarks are a rare public rebuke of one cabinet department by another. Commerce is led by Secretary Howard Lutnick.

Megaspeed is suspected of helping Chinese firms get around US export controls by buying Nvidia chips for its data centers in Southeast Asia and routing them to China.

The company reportedly traded more than $4 billion worth of Nvidia chips over two years.

Its former director Alice Huang was this week identified in US media as an alleged Chinese intelligence asset who had a relationship with Jensen Huang. The two are not related. Beijing has denied the spying allegations.

Jensen Huang acknowledged an extramarital affair in a November 8 letter to Nvidia employees that did not name the woman involved and resigned his position on Thursday.

Nvidia's board has said it will investigate, and three US Congress committee chairs have asked him to attend a closed-door briefing on November 18.

Bessent said coverage of the affair had focused too much on Huang's private life.

"The story thus far has been on Jensen Huang's personal foibles," he said. "The real story here should be: Did Nvidia know their client, and was there a robust effort at Nvidia to make sure that there was no leakage."

He questioned whether Nvidia had been selling to "what were obviously pass-through shell companies."

"I think it's important that anyone at the company there be held accountable for that," Bessent said.

He said there was "a lot of leakage in the system" and that the administration was "constantly working to close that down."

World

UN Chief Urges Drastic Emissions Cuts as COP31 Wrestles with Fossil Fuels

UN Secretary-General Antonio Guterres speaks at a press conference on the fifth day of the COP31 annual UN climate conference in Antalya, Türkiye, 13 November 2026. (EPA)
UN Secretary-General Antonio Guterres speaks at a press conference on the fifth day of the COP31 annual UN climate conference in Antalya, Türkiye, 13 November 2026. (EPA)
TT
TT

UN Chief Urges Drastic Emissions Cuts as COP31 Wrestles with Fossil Fuels

UN Secretary-General Antonio Guterres speaks at a press conference on the fifth day of the COP31 annual UN climate conference in Antalya, Türkiye, 13 November 2026. (EPA)
UN Secretary-General Antonio Guterres speaks at a press conference on the fifth day of the COP31 annual UN climate conference in Antalya, Türkiye, 13 November 2026. (EPA)

UN Secretary-General Antonio Guterres on Friday called for an "immediate and drastic reduction" in greenhouse gas emissions, as divisions over fossil fuels dominated the first week of COP31 climate talks in Türkiye.

Big fossil fuel producers and consumers at the talks are resisting any deal that would specify firm new targets or a shift away from oil, gas and coal, observers said as the first week of talks drew to a close.

That poses a challenge for summit host Türkiye and lead negotiator Australia, which have another week to land the kind of ambitious agreement climate advocates such as Guterres say is needed.

"The central question is in the hands of member states, particularly the big emitters. They must recognize the need for an immediate and drastic reduction in emissions to keep the 1.5 goal still possible by the end of the century," he said, referring to the warming limit countries had agreed to ‌pursue under the 2015 ‌Paris Agreement.

A UN report last month found the world is on course to exceed ‌the 1.5 ⁠degrees Celsius (2.7 ⁠degrees Fahrenheit) warming threshold, a limit scientists say should prevent the worst effects of climate change.

As temperatures have risen, this year has been marked by extreme heatwaves across Western Europe and a glacier collapse in Nepal that triggered a flood that killed more than 1,450 people. Thousands more are still missing.

'DISPROPORTIONATE INFLUENCE'

Major oil producers have traditionally resisted language constraining fossil fuels, while large developing economies such as India have opposed measures they say could limit their development and energy choices, a dynamic that has compromised the outcomes of past deals.

The world’s biggest oil consumer, the United States, meanwhile, has skipped the talks for the second year ⁠in a row under President Donald Trump, who has called global warming a hoax and promoted ‌continued use of fossil fuels.

"We must confront the disproportionate influence of the fossil ‌fuel lobby. The future of our planet cannot be negotiated on the terms of those profiting from its destruction," said Guterres, who is leaving ‌his job at the end of December after two five-year terms.

"But I remain hopeful. I've also seen something extraordinary over ‌these 10 years. Renewable energy has moved from the margins to the mainstream. The economics have changed. The technology has advanced. A cleaner, safer, and more secure energy future is in our hands. The question is whether we have the courage and speed to reach for it."

ELECTRIFICATION AND NO FIRM TARGETS

COP31 host Türkiye is striving to place a proposal to expand global electrification at the center of an eventual deal, saying the ‌plan will lead to emissions cuts by speeding the shift away from fossil fuel-powered cars, boilers and other equipment.

The proposal does not require the increased electricity use to come ⁠from renewable sources, although some ⁠countries, including last year’s COP host Brazil, are advocating for progress on a plan to require countries to more clearly map out their transition away from fossil fuels.

Katrine Petersen, an observer for the non-governmental organization E3G, said whether those measures survive the talks depends on conversations in the days to come.

"We've also heard quite clearly from countries like India, the G77, that they don't want any firm targets. They don't want any kind of technology or fuel-specific language," she said. "(These are) the kind of consistent and ongoing divides that we've seen from those different parties before."

Diana Acconcia, head of the EU delegation, said Europe backed the electrification goal.

"Electrification is, in a way, an inclusive agenda because it is non-prescriptive in a way on how the electrification is achieved," she said. "Of course, for the European Union electrification is to be achieved by clean sources of energy."

The Australian team, which is leading negotiations under a split presidency arrangement, spent the first few days of the summit gathering views on what should be included in a political text agreed by consensus that will be followed by all the negotiated technical points.

Australia is taking further submissions from countries until Saturday night, with a view to formulating a draft text early next week.

World

Europe’s Security Cannot Be Part of Ukraine Peace Talks, EU Leaders Say

13 November 2026, Ireland, Dublin: German Chancellor Friedrich Merz speaks during a press conference on the sidelines of the EU summit at the Convention Centre in Dublin. (dpa)
13 November 2026, Ireland, Dublin: German Chancellor Friedrich Merz speaks during a press conference on the sidelines of the EU summit at the Convention Centre in Dublin. (dpa)
TT
TT

Europe’s Security Cannot Be Part of Ukraine Peace Talks, EU Leaders Say

13 November 2026, Ireland, Dublin: German Chancellor Friedrich Merz speaks during a press conference on the sidelines of the EU summit at the Convention Centre in Dublin. (dpa)
13 November 2026, Ireland, Dublin: German Chancellor Friedrich Merz speaks during a press conference on the sidelines of the EU summit at the Convention Centre in Dublin. (dpa)

EU leaders said on Friday that Europe's security structure should not be a subject for Ukraine-Russia peace negotiations, but they did not answer the question of who should speak for Europe in any future talks.

The Kremlin said on Friday that Russia would be open to European countries taking part in Ukraine peace talks if it saw they were ready to contribute to the peace process.

German Chancellor Friedrich Merz described the Kremlin's comments as "the same old game" and said that Europe and the United States agreed on a clear message.

"There will be no discussions about ‌Ukraine without ‌Ukraine, and no discussions about Europe without Europe. Furthermore, there is no need ‌to ⁠talk about European ⁠security architecture. We have that already," Merz told reporters during a summit of European Union leaders in Dublin.

Russian officials have called for a broad agreement on Europe's security architecture to be reached before tackling the specifics of the war. Before its invasion of Ukraine in 2022, Russia demanded the withdrawal of NATO forces from countries that joined the alliance after 1997. NATO rejected the demand.

US negotiator Jared Kushner said in Moscow on Thursday that he had begun discussions with European partners on ⁠the continent's security architecture.

EUROPE PRIORITIZES CEASEFIRE IN RUSSIA-UKRAINE WAR

EU foreign policy chief ‌Kaja Kallas said Russian calls for discussions about Europe's ‌security architecture risked diverting attention from the need for a ceasefire. Latvian Prime Minister Andris Kulbergs called such ‌discussions "a trap".

During a meeting on Thursday, leaders from Poland, the Baltics and Nordic states warned ‌against brainstorming with the US or Russia about Europe’s security architecture, according to a European diplomat and a European official.

Forty European countries, meeting as a broader group in Dublin on Thursday, signed a declaration saying that any matter affecting European security should be decided with the involvement of Europeans.

EU leaders broadly agreed that Europe ‌needed to speak with one voice, but did not settle on a single individual to do so. Merz said discussions would continue.

"There are ⁠established institutional forms ⁠of (EU) representation — Kaja Kallas, for instance, is part of this — but the E3 format has also proven very effective," he said, in reference to an informal security grouping of France, Germany and Britain, which is no longer an EU member but a prominent NATO ally.

"Moreover, we always include Italy and Poland," Merz added.

Representatives from Britain, France, Germany, Italy and the EU attended Russia-Ukraine talks in Abu Dhabi earlier this week, where both Moscow and Kyiv cited some progress, though there was no sign of a breakthrough on key issues such as territory.

Swedish Prime Minister Ulf Kristersson said Britain, one of Europe's top three military powers, certainly had to be included in any future talks and that the five countries plus EU institutions would make sense.

"I'm quite flexible on that, so I think what we actually say is more important than the exact configuration of the people in the room," he said.