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EU Considers Maritime Services Ban on Russian Oil, Cyprus and Malta Warn of Impact on Legitimate Shipping

EU Considers Maritime Services Ban on Russian Oil, Cyprus and Malta Warn of Impact on Legitimate Shipping

The European Union and the Group of Seven (G7) countries are in discussions to replace the current price cap on Russian oil exports with a comprehensive ban on maritime services. This move aims to reduce the oil revenue that supports Russia's military activities in Ukraine. Cyprus and Malta, key EU shipping nations, have expressed concerns that such a ban could negatively impact legitimate maritime businesses. They argue that the ban should not push maritime services to non-EU jurisdictions, which would reduce EU oversight and leverage. The proposed ban is part of the EU's next package of sanctions against Russia, expected in early 2026.

India's Modi holds third call with Trump since tariff hike

India's Modi holds third call with Trump since tariff hike

Dec 11 (Reuters) - India's Prime Minister Narendra Modi said he spoke with U.S. President Donald Trump by phone on Thursday, as New Delhi seeks relief from 50% tariffs imposed by Washington on some of the country's key exports.

Zelensky Considers Wartime Elections in Ukraine Amid Security Concerns

Zelensky Considers Wartime Elections in Ukraine Amid Security Concerns

Ukrainian President Volodymyr Zelensky has expressed readiness to hold elections during the ongoing conflict if security can be guaranteed by the U.S. and European allies. This statement follows comments by President Trump suggesting it is time for Ukraine to conduct elections. Zelensky indicated that elections could occur within 60 to 90 days if security conditions are met. The Ukrainian constitution currently prohibits elections under martial law, which was declared following Russia's invasion in 2022. Zelensky's term officially ended in 2024, but elections have been postponed due to the war. The Ukrainian leader's willingness to consider elections marks a shift from previous positions that elections would only occur post-conflict.

US ambassador to Ankara says Trump is moving closer to resolving Turkey's F-35 ban

US ambassador to Ankara says Trump is moving closer to resolving Turkey's F-35 ban

The United States ambassador to Turkey says the close relationship between U.S. President Donald Trump and Turkish President Recep Tayyip Erdogan has brought their countries closer to resolving issues that led to Turkey being kicked off the F-35 fighter jet program

IOC advises sports bodies to let Russians compete in youth events again with flag and anthem

IOC advises sports bodies to let Russians compete in youth events again with flag and anthem

The IOC has taken a big step toward reintegrating Russia and Belarus into world sports

FACT FOCUS: Trump blames Biden for the agricultural trade deficit. It's not that simple

FACT FOCUS: Trump blames Biden for the agricultural trade deficit. It's not that simple

As President Donald Trump announced a $12 billion farm aid package this week to help U.S. farmers hurt by tariffs, he placed responsibility for the U.S. agricultural trade deficit on former President Joe Biden

East Europe faces weakening public finance prospects in 2026, Fitch says

East Europe faces weakening public finance prospects in 2026, Fitch says

BUDAPEST, Dec 9 (Reuters) - East European countries' public finances are likely to weaken next year, despite a moderate acceleration in economic growth due to rising debt levels and increased political polarisation, Fitch Ratings said on Tuesday.

European leaders agree to fund Ukraine for 2 years but using Russian assets poses a major test

European leaders agree to fund Ukraine for 2 years but using Russian assets poses a major test

European Union leaders have committed to funding Ukraine's economic and military needs for the next two years

Oil steadies, Ukraine peace talks and US rate decision in spotlight

Oil steadies, Ukraine peace talks and US rate decision in spotlight

Dec 9 (Reuters) - Oil prices steadied on Tuesday after slipping 2% in the previous session, as market participants kept a close eye on peace talks to end Russia’s war in Ukraine and a looming decision on U.S. interest rates.

Asian stocks slip as nervy markets wait for Fed

Asian stocks slip as nervy markets wait for Fed

By Ankur Banerjee SINGAPORE, Dec 9 (Reuters) - Asian stocks fell and the dollar was steady on Tuesday as investors braced for a cut in U.S. interest rates later this week while the yen was calm after a powerful earthquake rocked Japan's northeast region though the impact was limited.

Oil Prices Fluctuate Amid Ukraine Peace Talks and U.S. Interest Rate Decisions

Oil Prices Fluctuate Amid Ukraine Peace Talks and U.S. Interest Rate Decisions

Oil prices have edged down, extending losses from a previous 2% drop, as markets focus on peace talks to end Russia's war in Ukraine and an upcoming U.S. interest rate decision. Brent crude futures fell by 0.1% to $62.41 a barrel, while U.S. West Texas Intermediate crude dropped by 0.2% to $58.75. The market is reacting to Iraq's restoration of production at Lukoil's West Qurna 2 oilfield and the potential outcomes of Ukraine's revised peace plan discussions with the U.S. and European leaders. Additionally, the Group of Seven and the European Union are considering replacing a price cap on Russian oil exports with a full maritime services ban.

'Big hopes for Africa': Defence firms scramble for drone market at Egypt arms expo

'Big hopes for Africa': Defence firms scramble for drone market at Egypt arms expo

By Alexander Dziadosz CAIRO, Dec 8 (Reuters) - Quadcopters, electromagnetic rifles and an AI-powered navigation system were among the wares displayed at one of Africa and the Middle East’s biggest arms expos, as defence companies jostle to break into regional markets increasingly defined by drone