World
EU proposes new sanctions to weaken Russia’s oil and gas revenues
The European Commission has proposed a new round of sanctions against Russia in a fresh attempt to intensify pressure on Moscow’s high-intensity war economy and force concessions at the negotiating table.
“While Ukraine continues to defend itself with extraordinary courage on the battlefield, the Kremlin is doubling down on war crimes, deliberately striking homes and civilian infrastructure,” Commission President Ursula von der Leyen said on Friday afternoon.
“We must be clear-eyed: Russia will only come to the table with genuine intent if it is pressured to do so. This is the only language Russia understands.”
The main element inside the package is a full ban on maritime services aimed at further weakening Russia’s energy revenues, which von der Leyen says should be implemented “in coordination with like-minded partners after a decision” at the G7 level.
The blanket ban, previously advocated by Finland and Sweden, would prohibit EU companies from providing any type of service, such as insurance, shipping or port access, to vessels carrying Russian crude oil.
Until now, the EU has allowed such services to be offered – but only to tankers that comply with the G7 price cap, which has been in place since December 2022.
The cap was recently adjusted to $44.10 per barrel in an attempt to reflect market trends and tighten the screws on Russia’s war economy.
The dynamic price cap is followed by the EU, the UK, Canada, Japan and Australia, while the United States retains the original level of $60 per barrel.
In practice, the ban would mean the cap would effectively cease to apply within EU jurisdiction, as companies would be forbidden from servicing all Russian vessels without exemption, regardless of whether they sell above or below the price limit.
Finland and Sweden had argued that the prohibition would significantly drive up material costs for Russia’s oil sector, be easier to apply and prevent the spread of falsified documents, which Moscow often uses to bypass Western restrictions.
However, it is not yet clear if the other member states would be on board with the idea. Any decision would require the unanimity of the 27 capitals.
Securing the UK’s participation would be essential: the country enjoys a world-leading command of so-called Protection and Indemnity(P&I) insurance at sea.
A similar ban would apply to the maintenance and servicing of Russian tankers of liquefied natural gas (LNG) and icebreakers, von der Leyen said. EU countries have already agreed to ban all imports of Russian LNG by the end of this year.
An extra 42 vessels from Moscow’s “shadow fleet”, the dilapidated ships used to evade the G7 price cap, would be blacklisted, bringing the total to 640.
Crackdown on circumvention
Besides energy, the proposed package targets 20 Russian regional banks as well as companies and platforms trading in cryptocurrency, which the Kremlin has employed to bypass sanctions and create alternative payment systems.
The EU would also restrict Russian imports of metals, chemicals and critical minerals worth “about €570 million”, according to von der Leyen, and establish a quota on ammonia, used in fertilisers. Exports of rubber, tractors and cybersecurity services would be equally blocked.
For the first time, von der Leyen added, the EU would trigger the Anti-Circumvention Tool to prohibit sales of computer numerical machines and radios to countries “where there is a high risk that these products are re-exported to Russia”.
The tool has remained untouched since its introduction in 2023, despite ample evidence of circumvention by Russia’s neighbours and political allies, namely China.
Brussels is keen to approve the 20th package of sanctions by the time the full-scale invasion crosses its fourth-year mark on 24 February.
Von der Leyen and António Costa, the president of the European Council, are set to travel to Ukraine on that date to reaffirm the EU’s continued support.
“Our sanctions work, and we will continue to use them until Russia engages in serious negotiations with Ukraine for a just and lasting peace,” she said.
“Ukraine’s security, prosperity, and free future lie at the heart of our Union.”
US weighs extra pressure
Friday’s announcement comes on the heels of two days of trilateral talks in Abu Dhabi between Ukrainian, Russian and American officials. The diplomatic effort has raised hopes that the war might end sometime in 2026, even if progress has been very limited.
At the end of the meeting in Abu Dhabi, Ukraine and Russia agreed to swap 314 prisoners of war. Meanwhile, the US and Russia decided to re-establish high-level military dialogue for the first time in more than four years.
The talks were marked by the failure of an energy ceasefire brokered by US President Donald Trump. Just four days after Trump called the truce, Russia hit Ukraine’s energy infrastructure with 450 drones and 70 missiles. The constant barrages have plunged Ukrainians into painful blackouts at sub-zero winter temperatures.
US Treasury Secretary Scott Bessent indicated that additional punitive measures against Russia were “under consideration” in light of recent developments.
“We will see where the peace talks go,” Bessent said.
Washington spent most of last year avoiding sanctions on Russia, hoping to strike a fast deal to end the war. But in October, the White House decided to target Russia’s two largest oil companies, Rosneft and Lukoil, after sensing that President Vladimir Putin’s maximalist demands remained unchanged.
Due to the dominance of the US dollar in global trade, Washington’s sanctions had an extraterritorial effect, forcing Moscow to sell its Urals crude at a larger discount.
This article has been updated with more details.
World
Massive 11,000-carat ruby believed to be second-largest ever found in conflict-ridden country
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A massive ruby unearthed in Burma is being hailed as the second-largest ever discovered in the conflict-ridden country.
The ruby weighs about 11,000 carats — about 4.8 pounds — and was unearthed near Mogok in the Mandalay region, the center of Burma’s gem industry and an area affected by ongoing conflict, according to The Associated Press, citing state media.
The stone was found in mid-April, shortly after the country’s traditional New Year celebrations.
MAN STUMBLES ONTO RARE DIAMOND TREASURE DURING ARKANSAS PARK TRIP WITH FAMILY: ‘KNEW IT WAS DIFFERENT’
Burma’s newly discovered ruby is displayed at the president’s office in Naypyitaw on May 7, 2026. (Myanmar Military True News Information Team/AP)
Although it is roughly half the size of a 21,450-carat ruby discovered in 1996, experts say the new find could be more valuable because of its higher quality, the outlet reported.
It has a purplish-red color with slight yellow tones, moderate transparency and a highly reflective surface.
Burmese President Min Aung Hlaing and his cabinet have already inspected the stone in the country’s capital of Naypyidaw.
ONCE-IN-A-CENTURY TREASURES DATING BACK 4,500 YEARS UNEARTHED IN LEGENDARY CITY
Burmese officials inspect a newly discovered ruby at the president’s office in Naypyidaw on May 7, 2026. (Myanmar Military True News Information Team/AP)
Burma produces up to 90% of the world’s rubies, mostly from Mogok and nearby Mong Hsu.
The gem trade — both legal and illegal — is a major source of income in the country.
However, rights groups, including Global Witness, have long urged jewelers to avoid buying Burmese gemstones, saying the trade helps fund the country’s military governments, according to The Associated Press.
RARE 10-CARAT BLUE DIAMOND AMONG $100M WORTH OF GEMS GOING UP FOR AUCTION
This photo taken on May 16, 2019, shows miners working in a ruby mine in Mogok, north of Mandalay. (Ye Aung Thu/AFP via Getty Images)
Gem mining also finances ethnic armed groups fighting for autonomy, contributing to Burma’s long-running conflicts.
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The mining regions remain unstable.
Mogok was seized in July 2024 by the Ta’ang National Liberation Army (TNLA), an ethnic armed group. Control later returned to the military under a ceasefire deal brokered by China late last year.
The Associated Press contributed to this report.
World
‘We need to make up our mind’: EU split over direct talks with Russia
The European Union is still struggling to decide if, how, and when it wants to talk directly with Russia to advance negotiations towards a lasting peace in Ukraine, as member states remain split on whether the benefits would outweigh the risks.
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The absence of political unity, an indispensable precondition for such a significant undertaking, was laid bare on Monday during a meeting of foreign affairs ministers in Brussels, where several representatives urged fresh sanctions rather than dialogue.
“(Vladimir) Putin is really not interested in real peace talks yet. So we need to put more pressure on Russia in order to change the calculus and make him interested,” Sweden’s Maria Malmer Stenergard said upon arrival.
“What will we discuss? What will be our demands? Can we agree on our demands on Russia?” said Lithuania’s Kęstutis Budrys. “What is our strategy and agenda, and what’s the goal? What’s the end state? It’s not dialogue as dialogue per se.”
Italy’s Antonio Tajani said the EU was “not at war” with Russia and it was “important” to be part of the ongoing negotiations, while Austria’s Beate Meinl-Reisinger noted it was time for Europeans to become active participants through their own team.
“We need to make up our mind,” said Finland’s Elina Valtonen.
The only point on which ministers agreed was that Europeans themselves should pick their envoy. The Kremlin’s suggestion to nominate Gerhard Schröder, the former German chancellor who has worked for Russian energy firms, was unequivocally dismissed.
At the end of the meeting, High Representative Kaja Kallas acknowledged that the topic was not yet mature and required further reflection among governments.
“The EU has always supported attempts to achieve a just and lasting peace,” Kallas said.
“For Europe to take a more active role, we must agree amongst ourselves what we want to talk to Russia about and what our red lines are.”
The High Representative, who previously said the EU should not “humiliate” itself by seeking direct talks with Russia, has been trying to bridge gaps among capitals with a draft document outlining the concessions Moscow should make.
The confidential document will be discussed later this month when foreign ministers meet again for an informal gathering in Cyprus. However, given the considerable divergences, a unified position is unlikely to emerge any time soon.
“We are not there entering the negotiations in any way,” Kallas cautioned. “Right now, we don’t see that Russia is really negotiating in good faith.”
If, how and when
The question of whether the EU should engage directly with Russia to end its war of aggression has been popping up in and out of the conversation since US President Donald Trump unilaterally launched a diplomatic process to end the war in Ukraine.
Earlier this year, French President Emmanuel Macron, who last spoke with Putin in July 2025, and Italian Prime Minister Giorgia Meloni publicly called on the bloc to change policy, arguing the fate of European security could not be left in American hands.
The debate lost traction after Macron’s advisor, Emmanuel Bonne, travelled to the Kremlin for exploratory talks and was given the cold shoulder.
But it has once again risen to prominence as a result of the conflict in the Middle East, which has shifted Washington’s focus and slowed down the mediation in Ukraine.
Last week, Ukrainian President Volodymyr Zelenskyy, who seems increasingly frustrated with the White House’s course of action, asked Europeans to take a more active role.
“We need to find a workable diplomatic format, and Europe must be at the table in any talks with Russia,” Zelenskyy said at a summit in Armenia. “It would be good to develop one common European voice for talks with Russia.”
A few days later, European Council President António Costa said there was “potential” for the bloc to negotiate one-on-one with the Kremlin.
“I’m talking with the 27 national leaders to see the best way to organise ourselves and to identify what we need effectively to discuss with Russia when it comes to the right moment to do this,” Costa said in Florence, Italy.
The European Commission also weighed in. “We can see the merit of having one single figure speaking on behalf of the 27,” a spokesperson said.
Both Costa and the Commission were quick to note that direct talks would only make sense once the Kremlin showed willingness to compromise and make concessions. Putin insists that Kyiv give up the entire Donbas region and that the West recognise the occupied territories aslegally Russian — both demands that Zelenskyy firmly rejects.
Brussels is keen to avoid creating the impression that it is attempting to replace Washington, which might give Trump a reason to walk away for good.
On Monday, Ukrainian Foreign Minister Andrii Sybiha said the EU should not pursue “alternative peace talks” but rather play a “complementary” role in the ongoing process.
Russia’s relentless bombardment of Ukraine’s civilian infrastructure, including a kindergarten last week, is another factor that makes officials and diplomats think twice.
Instead, some capitals prefer to wait and weaken Russia’s hand at the negotiating table. The country has begun to show signs of economic strain after 20 rounds of sanctions and was forced to pare down its Victory Day parade over fears of Ukraine’s strikes.
At the same time, Kyiv’s standing has been reinforced by the approval of the EU’s €90 billion assistance loan and the signing of multiple defence deals with Gulf countries.
“Russia must be pushed back to Russia,” Estonia’s Margus Tsahkna said. “Putin is not ready to talk about a lasting and just peace at all.”
World
What Middle Powers Fear from the Trump-Xi Summit
Poland will soon host production lines for South Korean tanks. Australia is buying warships from Japan. Canada will send uranium to India, while India offers cruise missiles to Vietnam, and Brazil builds military transport planes for the United Arab Emirates.
All of these deals were sealed in the past few weeks. Each one represents an attempt by middle powers to protect themselves as the conflict in Iran throttles global energy supplies, and as a high-stakes summit between President Trump and Xi Jinping of China looms.
Global polls show the world has little trust in the United States and China. Mr. Trump and Mr. Xi have both used their enormous leverage over trade and security to coerce or punish. And in response, smaller nations are behaving as if they are stuck in “Godzilla” or “Dune” — moving quietly in small groups, trying not to provoke the wrath of petulant giants.
“It’s fifty shades of hedging,” said Richard Heydarian, a Filipino political scientist at Oxford University. Or, as Ja Ian Chong, a security analyst in Singapore put it, “No party wants to cross Beijing and now Washington, too.”
For countries watching from afar, dread and hope hover over the Trump-Xi meeting in Beijing, which is scheduled for this week. In Asia, which has been hit hardest and fastest by oil shortages caused by the war and China’s tight control of oil-product exports, the mood is particularly grim. Interviews with officials, and statements from leaders traveling the globe to secure trade and defense deals, suggest that most middle powers feel overwhelmed by the deteriorating world order.
Many believe the summit carries more potential for harm than help. And Mr. Trump’s gut-driven approach to complex issues is the main source of anxiety.
For months, officials in Asia have worried that the president might be too eager to make a deal with Mr. Xi, ending weapons sales to Taiwan or agreeing to softened policy language that could make it easier for China to undermine the democratic island.
“That would be the biggest nightmare,” said one Taiwanese official who spoke on condition of anonymity to discuss internal government matters. He insisted that reduced support from the U.S. was unlikely.
But any concession on Taiwan could lead other American partners to fear abandonment. Beijing’s push for compliance on contested territory elsewhere would be bolstered, from the border with India to the South China Sea.
Vietnamese officials said that if President Trump makes a conciliatory gesture or flatters Xi, even without bigger compromises, China will gain leeway to press harder on smaller countries.
Another concern being discussed across the region: that Mr. Trump might alter long-term security plans in exchange for better economic terms with China.
Mr. Trump’s decision to redirect a carrier strike group from the Pacific and munitions from South Korea for the war in Iran may have created momentum for broader redeployments. When the Pentagon announced it would pull at least 5,000 troops from Germany after Mr. Trump expressed annoyance with the German chancellor, allies in Asia were again reminded how quickly collective deterrence can be weakened.
Mr. Trump has threatened in the past to make troop withdrawals from Japan, which hosts around 53,000 American military personnel — more than any other country — and South Korea, where another 24,000 Americans are stationed. If he could get something big from Mr. Xi for a drawdown, would he turn down the deal?
Analysts noted that plans opposed by China, such as AUKUS, a pact between Australia, England and the U.S. designed to counter Beijing’s influence by equipping Australia with nuclear-powered submarines and advanced technology, could also be suddenly canceled.
“The sense that U.S. allies have to look to one another because they can no longer look to America is very real,” said Hugh White, a former Australian intelligence official who teaches strategic studies at the Australia National University.
That sentiment is much stronger than “the cautious public language” of national leaders might suggest, he added.
European and Asian officials often talk privately in frank terms about giving up their faith in America, prompting a no-turning-back effort to diversify away from the United States. In casual discussions with reporters, they can sound a lot like Prime Minister Mark Carney of Canada, who received a standing ovation in Davos this year for a speech that declared, “We are in the midst of a rupture, not a transition.”
But in public, they’re more circumspect. Some officials admit their countries are trying to buy time and evade Mr. Trump’s fits of pique, while continuing the performance of imperial fealty.
South Korean officials have simply expressed resignation over American military diversions, after making clear they felt betrayed in 2004, when President George W. Bush announced plans to move troops from Asia to the war in Iraq. Australia, Taiwan and Japan publicly and repeatedly stress the value of American leadership without caveats — even as U.S. tariffs and the war Mr. Trump started with Iran kneecap their economies.
Walking with Caution
No one wants to be seen stepping out of line.
Japan’s new prime minister, Sanae Takaichi, has been bolder than most in trying to foster stronger relationships with other countries. Yet even as she crisscrossed the region promoting military cooperation, officials in Tokyo worried about how Washington would view her efforts.
“The Japanese don’t want Takaichi’s security cooperation and tour, especially to Australia, to be seen as a version of Mark Carney,” said Michael J. Green, the author of several books on Japan, and chief executive of the United States Study Centre at the University of Sydney.
Others have apparently reached the same conclusion. Mr. Carney’s recent visits to India and Australia did not yield strong statements from their leaders echoing his criticism of great power rivalry or his warning that if middle powers are “not at the table, we’re on the menu.”
At the same time, many countries — including some that are benefiting from the thickening of middle-power bonds — have been careful not to anger the world’s other hegemon, China.
Nations managing their own disputes with Beijing, such as Indonesia, have done less to rally around Japan than some in Tokyo would have liked, since Ms. Takaichi became embroiled in a diplomatic crisis after telling her Parliament that if China attacked Taiwan, Japan could respond militarily.
Vietnamese officials even pressed Ms. Takaichi to avoid directly criticizing China in her speech at a university on May 2 in Hanoi, according to diplomats who spoke on condition of anonymity to describe sensitive discussions. It is not clear if adjustments were made. Chinese officials later condemned her diplomatic efforts as “war preparation.”
And yet, in a sign of how middle powers are still doing more while saying less, the two countries signed six cooperation agreements, including one on satellite data sharing and another to secure deliveries for Vietnam’s largest oil refinery, potentially easing shortages.
“The U.S. has become more unreliable, so it makes sense to try to develop alternatives,” said Robert O. Keohane, an international relations professor at Princeton University. Even if what’s been formed so far is insufficient, he added, “having a weak alternative is better than having no alternative at all.”
Reporting was contributed by Tung Ngo from Hanoi, Vietnam; Javier C. Hernández from Tokyo; Amy Chang Chien from Taipei, Taiwan; Jim Tankersley from Berlin; Ian Austen from Ottawa; and Matina Stevis-Gridneff from Toronto.
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