Search Site

ADNOC Drilling closes JV

It is a JV between ADNOC Drilling, SLB and Patterson UTI.

Boeing to boost 787 production

The firm will invest$1bn to ramp up production in South Carolina.

ADNOC signs deal with PETRONAS

Under the agreement, ADNOC will supply 1m tons of LNG per year.

Aramco-Horse Powertrain deal completed

An agreement for the purchase of 10% equity stake was signed in June 2024.

Roche to buy Poseida Therapeutics

The $1.5 billion deal is due to close in early 2025.

G7 vows ‘significant’ new sanctions if Iran sends missiles to Russia

Moscow has turned to Tehran as well as Pyongyang to obtain arms for use in Ukraine. (AFP)
  • Among the steps that have been discussed is ending national airline Iran Air's flights to Europe, the official added.
  • A senior US administration official told journalists that if Iran decides to sell ballistic missiles to Russia, the costs will far outweigh the benefits.

Washington, US – G7 countries warned Iran on Friday that they will impose “significant” new sanctions if Tehran transfers ballistic missiles to Russia for use in Ukraine.

“We reiterate our call on third parties to immediately cease providing material support to Russia’s illegal and unjustifiable war of aggression against Ukraine or face severe costs,” the group, which includes the United States, Japan, Germany, France, Britain, Italy and Canada, said in a statement.

“Were Iran to proceed with providing ballistic missiles or related technology to Russia, we are prepared to respond swiftly and in a coordinated manner including with new and significant measures against Iran,” the countries said.

A senior US administration official told journalists that if Iran decides to sell ballistic missiles to Russia, the costs will far outweigh the benefits, saying the “transfer hasn’t happened, but there’s a there’s a real danger that it could.”

Among the steps that have been discussed is ending national airline Iran Air’s flights to Europe, the official added, declining to provide details on other response options.

The G7 previously denounced support from China and Iran for Russia’s war in Ukraine in a statement issued on the second anniversary of the full-scale invasion of the country by Moscow’s forces.

They called on Iran to stop helping Russia’s military and expressed concern on the transfer by Chinese businesses of weapons components and military equipment to Moscow.

Ukrainian forces have been hit by ammunition shortages as additional funding for military aid to Kyiv remains stalled in the US Congress.

Moscow has turned to Tehran as well as Pyongyang to obtain arms for use in Ukraine, while Russia has also massively ramped up its domestic arms production.