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EU proposes new sanctions to weaken Russia’s oil and gas revenues

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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.

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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.

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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.

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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.

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“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.

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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.

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Intense Israeli strikes hit Iran and Lebanon as US warns the bombardment will ‘surge dramatically’

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Intense Israeli strikes hit Iran and Lebanon as US warns the bombardment will ‘surge dramatically’

DUBAI, United Arab Emirates (AP) — Intense Israeli airstrikes pounded the capitals of Iran and Lebanon early Friday as the U.S. apparently struck an Iranian drone carrier at sea in its unrelenting campaign against the Islamic Republic’s fleet of warships.

Iran launched new retaliatory attacks in the Middle East at the end of a full week of bombardment, which U.S. Defense Secretary Pete Hegseth warned was “about to surge dramatically.”

Israel’s military said Friday morning it had begun “a broad-scale wave of strikes” on Tehran, Iran’s capital. Witnesses described the Israeli airstrikes as particularly intense, shaking homes in the area. Others reported explosions around the Iranian city of Kermanshah in an area that is home to multiple missile bases.

The Israeli military said strikes have already destroyed most of Iran’s air defenses and missile launchers.

The war has escalated to affect countries across the Middle East and beyond. Early Friday, Iran fired missile and drone attacks into Kuwait, Qatar, Saudi Arabia and Bahrain, all countries that host U.S. forces. There were no immediate reports of casualties.

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In Lebanon, where the war has rekindled fighting between Israel and Iran-allied Hezbollah militants, Israel launched a series of airstrikes late Thursday into Friday in the southern suburbs of Beirut and other areas. Motorists jammed roads trying to flee or seek shelter.

The U.S. and Israel have battered Iran with nationwide strikes, targeting their military capabilities, leadership and nuclear program.

In addition to Israel, Iran’s attacks have targeted their Arab neighbors, disrupted oil supplies and snarled global air travel. The war has killed at least 1,230 people in Iran, more than 120 in Lebanon and around a dozen in Israel, according to officials in those countries. Six U.S. troops have been killed.

US says it struck an Iranian drone carrier

The U.S. military said early Friday that it struck an Iranian drone carrier, setting it ablaze.

The U.S. military’s Central Command released black-and-white footage of the burning carrier. The Iranian military did not immediately acknowledge the attack.

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The drone carrier, the IRIS Shahid Bagheri, is a converted container ship with a 180-meter-long (yard) runway for drones. The vessel can travel up to 22,000 nautical miles without needing to refuel in ports, reports said at the time of its 2025 inauguration.

Adm. Brad Cooper, head of U.S. Central Command, described the carrier as “roughly the size of a World War II aircraft carrier.”

“And as we speak, it’s on fire,” Cooper told reporters.

Earlier in the week, an American submarine sank an Iranian frigate off the coast of Sri Lanka as it was returning from an exercise hosted by the Indian navy that the U.S. also joined. The sinking killed at least 87 sailors.

Under cover of darkness Friday morning, B-2 stealth bombers dropped dozens of 2,000 pound “penetrator” bombs on deeply buried ballistic missile launchers inside Iran, Cooper said.

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“We’ve also struck Iran’s equivalent of Space Command, which degrades their ability to threaten Americans,” Cooper said.

Speaking alongside Cooper, Hegseth gave few details when he promised an upcoming surge.

“It’s more fighter squadrons, it’s more capabilities, it’s more defensive capabilities,” Hegseth said. “And it’s more bomber pulses more frequently.”

Iran targets country’s hosting US forces

Qatar’s Defense Ministry reported early Friday it intercepted a drone attack targeting Al Udeid Air Base, which hosts the forward headquarters of the U.S. Central Command.

Saudi Arabia intercepted and destroyed three ballistic missiles fired early Friday toward Prince Sultan Air Base south of Riyadh, which hosts U.S. forces, said a spokesperson for Saudi Arabia’s Ministry of Defense.

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Air raid sirens sounded in Bahrain, where the Interior Ministry said Iranian strikes targeted two hotels and a residential building. It said there were no casualties. In Kuwait, where the six U.S. soldiers were killed Sunday, the Kuwaiti army said its air defenses were activated when missile and drone attacks breached Kuwait’s airspace.

Cooper said Iranian attacks had now hit a dozen countries, who would be welcome to play a more active role in the conflict.

“Those 12 countries are none too happy and I look forward to working with all the partners who are willing to join us,” he said.

Trump again urges Iranians to “take back” their country

In brief remarks at the White House, U.S. President Donald Trump again urged the Iranian people to “help take back your country.” This time he promised the U.S. would grant them “immunity” amid the war and ongoing dangers under the current Iranian regime.

“So you’ll be perfectly safe with total immunity,” Trump said, without giving any details about what that meant. “Or you’ll face absolutely guaranteed death.”

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Cooper and Hegseth cautioned Iranians not to take to the streets while the conflict is still raging, however.

“It’s common sense, don’t go out and protest while bombs are dropping” Hegseth said.

“The best thing for them to do now is just to lay low,” Cooper added.

In an interview with the news website Axios, Trump said he should be involved in choosing Iran’s new supreme leader to replace Ayatollah Ali Khamenei, who was killed in the opening strikes of the war. Trump spoke dismissively of Khamenei’s son, Mojtaba Khamenei, being a front-runner to replace his father, calling him “a lightweight.”

“We want someone that will bring harmony and peace to Iran,” Trump said.

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Iranian officials meet to discuss new leadership

Iranian state television reported Friday that a leadership council had started discussing how to convene the country’s Assembly of Experts, which will select the new supreme leader.

The leadership council includes President Masoud Pezeshkian, judiciary chief Gholam Hossein Mohseni Ejehi and cleric Ayatollah Ali Reza Arafi.

The statement provided no timeline on the selection of the supreme leader, nor information on whether the Assembly of Experts would meet in person or remotely for the vote.

Buildings associated with the Assembly of Experts, a 88-member clerical panel, have been attacked during the Israeli-U.S. airstrike campaign.

Israel hits Lebanon with multiple airstrikes around Beirut

Israel carried out at least 11 airstrikes late Thursday and early Friday, targeting the southern suburbs of Beirut. Fires broke out near a gas station.

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The Israeli army issued a warning Thursday evening, urging residents to “save your lives and evacuate your homes immediately.” Two hospitals evacuated patients and staff. No casualties were immediately reported.

The Lebanese health ministry said the death toll has risen to 123 since the resurgence of hostilities between Israel and Hezbollah, which struck Israel in the opening days of the war.

A spokesperson for the U.N. peacekeeping force in southern Lebanon, Tilak Pokharel, said Thursday that peacekeepers had seen and heard clashes, including ground combat, in southern Lebanon as more Israeli forces have moved across the border.

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Bynum reported from Savannah, Georgia, Rising from Bangkok and Abou AlJoud from Beirut, Lebanon. AP journalists around the world contributed.

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This version has corrected the date of the ship’s inauguration to 2025, not 2005.

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Private flights account for 30% of departures from Oman airport as wealthy evacuate Middle East

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Private flights account for 30% of departures from Oman airport as wealthy evacuate Middle East

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Long border crossings, SUV convoys and six-figure jet charters have become the new escape route out of the Middle East as Operation Epic Fury intensifies, with private flights now accounting for nearly a third of all departures from Oman’s main airport.

FlightRadar24, a real-time flight tracking platform, reported that while Oman continues to be a “vital” hub for evacuation and repatriation flights, private flights accounted for 31% of operations Wednesday at Muscat International Airport.

As of Thursday afternoon, the platform reported more than 30% of all movements at the airport were private flights.

Semafor reported earlier this week that airports in Oman and Saudi Arabia were drawing ultra-wealthy travelers looking to leave the countries.

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Oman continues to be a “vital” hub for evacuation flights at its Muscat International Airport. (Christopher Pike/Bloomberg via Getty Images)

People familiar with the matter told the outlet that private security companies have been booking fleets of SUVs to take people on the 10-hour drive from Dubai to Riyadh, Saudi Arabia, where private flights are available. 

The clientele evacuating the region are a mix of senior executives at global finance firms and wealthy travelers in the region for business or vacation, according to Semafor.

LIV golfer Jon Rahm, a two-time major winner, was just one of the wealthy who arranged flights amid the turmoil.

MIDDLE EAST CRUISE NIGHTMARE DEEPENS AS IRAN AIRSTRIKES LEAVE PASSENGERS STRANDED

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Rahm arranged a charter flight through his partnership with VistaJet, a private aviation company, to fly the seven stranded LIV golfers and a caddie from Oman to Hong Kong after their flights were canceled.

After a more than four-hour drive to Oman, the crew flew to Hong Kong.

A spokesperson for Air Charter Service, a company that acts as a global broker for private jets and freight transport, told FOX Business the company has arranged more than 10 evacuation flights, with more scheduled, mainly out of Oman with passengers looking to flee Dubai.

AMERICAN STUCK IN MIDDLE EAST ESCAPES IN RACE TO REACH CRITICALLY ILL HUSBAND IN CALIFORNIA

FlightRadar24 shared flights flying in and out of Muscat airport. (@Flightradar24 via X)

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“We evacuated some of our own staff who were just visiting the region, and we arranged transport via the Hatta crossing into Oman from the UAE to get them to Muscat from where they flew out of the region,” the spokesperson said. “The border crossing time at Hatta took around 3–4 hours, as of Sunday, but I suspect this has increased now, as more people look at this option.”

Light flight jet trips from Muscat, Oman, to Istanbul, Turkey, are reportedly going for more than $93,000, according to Forbes, which said the price was about double the usual rate. 

The outlet added the same route on heavy jets can cost up to $140,000.

AMERICANS IN MORE THAN A DOZEN MIDDLE EAST NATIONS URGED TO FLEE

This map shows the targets of Iran’s retaliatory strikes. (Fox News)

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The U.S. and Israel launched attacks on Iran Saturday, triggering retaliatory attacks targeting countries in the region that host U.S. interests. 

Mora Namdar, Assistant Secretary of State for Consular Affairs, advised U.S. citizens to leave Bahrain, Egypt, Iran, Iraq, Israel, the West Bank and Gaza, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria, the United Arab Emirates and Yemen.

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The limited number of available aircraft has pushed up prices, as citizens and travelers attempt to flee.

Fox News Digital’s Ryan Morik and Ashley Carnahan contributed to this report.

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Fact check: Did French border guards mock influencers returning from Dubai amid Iran war?

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