Erdogan made the announcement one day before it had been due to expire, scoring a diplomatic coup ahead of a May 28 runoff election in which he will try to extend his two-decade rule until 2028. He thanked "my precious friend", Russian President Vladimir Putin, Ukrainian counterpart Volodymyr Zelensky and...

ABU DHABI, UAE -  The Central Bank of the UAE (CBUAE) imposed administrative sanctions on eight banks operating in the UAE. The administrative sanctions take into account the banks' failures to comply with the CBUAE's instructions not to grant any loans or credit facilities to the beneficiaries of loans granted...

The EBRD forecasts Turkish GDP will expand 2.5 percent this year, cutting prior guidance of 3.0 percent and citing the impact of "unorthodox" loose monetary policy alongside one of the world's highest inflation rates. The death toll of Turkey's worst disaster of modern times stands at more than 50,000 and...

The United Arab Emirates has invited Syrian President Bashar al-Assad to attend the UN climate summit in Dubai later this year, Syrian state media said. Assad's first invitation to a global summit since the start of Syria's war in 2011 comes as the Arab world warms to Damascus after a...

Iran's parliament voted in an impeachment session to remove the industry minister amid soaring prices as the Islamic republic's economy reels under the pressure of international sanctions. Reza Fatemi Amin failed to garner enough support in a vote of confidence that saw 162 MPs vote in favor of his removal...

Tehran, Iran— Iran has announced new sanctions against the UK and European Union “individuals and entities” for supporting what it terms as terrorist groups in the Islamic Republic. According to MEHR News Agency, sanctions have been imposed on 17 individuals and four entities for inciting and encouraging terrorist acts and...

Netflix, which spent more than 1 trillion won ($750 million) developing Korean content from 2015 to 2021, had previously said it would be expanding its South Korean show output, without giving details of spending plans. South Korea has cemented its status as a global cultural powerhouse in recent years, thanks in...

The state company said in a statement on its website that it was "launching its own version" of a chatbot, which will be called GigaChat -- a first for Russia. The Russian-language app is now only available by invitation in test mode.

Tehran, Iran -- The West has intensified economic pressures on Iran in recent months and imposed nearly 800 sanctions on Iran since September last year alone, an Iranian expert has said. Mohsen Pakaeen, a foreign policy analyst, told the official Islamic Republic News Agency that US, Europe along with Canada...

A joint statement issued after the tenth US-EU Energy Council in Brussels said competitive, liquid and transparent global energy markets remain critical to ensuring a reliable, sustainable, affordable, and secure energy supply for Europe to serve the transition to climate neutrality. The Council asked Russia to withdraw its forces from...

Abu Dhabi, UAE -- The Central Bank of the UAE Friday revoked the license of Russia's MTS Bank's, which was granted last year. The bank said that under its supervision, the operations of MTS bank, which is licensed in Abu Dhabi, would be wound down within six months. Revocation of...

Its net profit recorded a drastic drop to US$5.2 billion.

Firm said non-monetary factors played a role in earnings.

There might be a global slowdown in the property market, but thanks to Russian buyers, the UAE, in contrast, has seen a stunning growth in the sector.

MTS Bank, approved for its licence last year, was one of more than 200 entities and individuals targeted by the fresh sanctions on the first anniversary of Russia's invasion of Ukraine. The Central Bank of UAE said MTS earned its license because it "fulfilled the criteria for licensing branches of...

The EU measure will last for six months and was taken "in view of the gravity of the humanitarian crisis in Syria exacerbated by the earthquake". The massive 7.8-magnitude quake on February 6 has killed more than 42,000 people in Turkey and more than 3,600 in Syria.

Taking retaliatory action for imposition of sanctions against the Islamic Republic, Iran has slapped 36 individuals and entities from the European Union and Britain with sanctions. According to the Iranian foreign ministry, Tehran has placed the names on its "sanctions list for supporting terrorism and terrorist groups" as well as...

IEA Executive Director Fatih Birol said the measures taken following Russia's invasion of Ukraine helped European nations whether Russia cutting off most of its gas supplies. The IEA said the meeting is expected to identify and endorse measures to improve the balance between gas supply and demand.

Brent, the international benchmark, and its US counterpart WTI, which had been down earlier in the day, jumped more than two percent after Russian deputy prime minister Alexander Novak said production would be cut by 500,000 barrels per day, or five percent of output, in March. "Crude prices reacted positively...

Hunger rates in Syria have escalated to record highs after more than ten years of brutal conflict, according to the World Food Program. The UN agency believes that years of economic crisis and damage to vital infrastructure from war have put some 2.9 million at risk of sliding into hunger.

The central bank "took a decision to freeze all the accounts" of Hassan Moukalled as well as those of his sons Rayyan and Rani and two businesses that he owns, it said in a statement. The US Treasury had issued the sanctions on Tuesday, calling Moukalled "a corrupt money exchanger...

The EU and Britain on Monday slapped another round of sanctions on Iran which has been rocked by protests since the September 16 death of Amini, a 22-year-old Iranian Kurd who had been arrested for allegedly breaching the country's strict dress code for women. "The move by the European Union...

The EU will impose new sanctions on 37 Iranian officials and organizations over the crackdown on protests, but is still debating listing the Revolutionary Guard as a "terrorist" group, diplomats said. Foreign ministers from the bloc are to agree to adopt the fourth package of sanctions on Tehran over its...

ABU DHABI, UAE - European countries will eventually resume higher imports of Russian gas, Qatar's energy minister and gas company CEO predicted on Saturday, warning that market volatility could last for years. Russian gas exports to Europe plunged after Moscow's invasion of Ukraine but Saad Sherida al-Kaabi, head of QatarEnergy,...

How the war in Ukraine has played out -- both on the world stage and the battlefield -- serves as a cautionary tale on the potential dangers of launching such an invasion, and offers other lessons as well. General Mark Milley, the top US military officer, said the war was...

Russia has assembled a "shadow fleet" of more than 100 vessels seeking to circumnavigate the Western sanctions regime. These ships are reportedly using non-Western insurers and selling oil at higher prices to countries that have not subscribed to the new sanctions.

Russian forces have missed most of their key military goals since February, raising fears that the battlefield stalemate could see Russia resort to its nuclear arsenal to achieve a breakthrough.

Major oil-producing countries led by Saudi Arabia and Russia agreed to maintain their current output levels. Representatives of 13 members of the Organization of the Petroleum Exporting Countries led by Riyadh, and their 10 allies headed by Moscow, decided to stick to a production cut of two million barrels per...

Morocco is set to chalk up record revenues for a second year running as farmers worldwide scramble for phosphate, made scarce by sanctions against top world producer Russia and a Chinese ban on exports.

The Treasury Department's Office of Foreign Assets Control (OFAC) sanctioned two individuals and two companies for providing financial services to Hezbollah.

FIFA threatened to impose "unlimited" sanctions against players who wore the "OneLove" rainbow-themed armband for World Cup matches in Qatar. This was revealed by the head of English football, after many European nations abandoned the initiative to wear the armbands.

The 27-nation bloc has also placed an embargo on Russia coal. While it has not banned natural gas imports from Russia, Moscow has slashed supplies to the EU.

Designed as a punishment for the government of Iran, the EU will likely adopt new sanctions against the Islamic republic next week over its deadly crackdown on protests in the country. The German foreign minister said that the bloc will not let up and that "it stands with the men...

Despite the change in stance in Stockholm, some analysts believe Turkey's presidential and parliamentary elections in June 2023 could delay the Nordic NATO bids.

Iran admitted for the first time that it has sent drones to Russia, but insisted they were supplied to its ally before the Russian invasion of Ukraine. "We supplied Russia with a limited number of drones months before the war in Ukraine," Foreign Minister Hossein Amir-Abdollahian said, quoted by the...

No Iranian cryptocurrency platforms are currently under sanctions. But US-imposed restrictions prohibit a US entity or US national from selling goods and services to Iranian residents, businesses or institutions. The ban includes financial services. Binance was founded in 2017 by a Chinese-Canadian entrepreneur but following regulations on its activities in...

Europe must act immediately to prevent a shortage of natural gas next year as Russia slashes deliveries in the wake of the Ukraine war, the International Energy Agency warned. The IEA said the shortfall would occur if Russia stops pipelines deliveries completely and China steps up its imports of liquefied...

The Czech prime minister, whose country holds the rotating EU presidency, said the bloc may look at sanctions on Belarus over its role in the war in Ukraine. Minsk allows Russian troops to be stationed in Belarus and stage attacks on Ukraine from there, though it insists it does not...

Iran's foreign ministry announced in a statement sanctions against eight institutions and 12 individuals based in the EU for "supporting terrorist groups", "inciting violence" and "provoking riots, violence and terrorist acts" in the Islamic republic.

Qatar energy minister also called on governments and multilateral institutions to condemn sabotage and military attacks on energy infrastructure or electricity networks.

The EU's 27 member states have been squabbling for months over measures to lower energy bills as winter nears.

Tehran, Iran— Iran announced Sunday a contract with Russia to supply it with 40 turbines to help its gas industry amid Western sanctions over Moscow's war in Ukraine, local media reported. Iran's "industrial successes are not limited to the fields of missiles and drones," Iranian Gas Engineering and Development Company's CEO,...

The decision to make the biggest-ever dip into the emergency oil reserves -- usually kept for responding to situations such as hurricane-related shutdowns at oil refineries -- was Biden's gambit to calm energy markets and shield the world's biggest economy from Ukraine war shocks.

Iran vowed an "immediate" response to the European Union as it prepares new sanctions on the Islamic republic after over a month of protests sparked by Mahsa Amini's death. EU foreign ministers met to adopt sanctions on Iran after Amini was detained for allegedly breaching Iran's strict dress code for...

Accusing the US President Joe Biden of "inciting chaos" after he expressed support for protests in Iran, President Ebrahim Raisi said that "the enemy's plot" should be countered by effective measure to resolve people's problems. The country has been rocked by protests since Mahsa Amini's death in custody.

Erdogan still hopes to bring Putin and Ukrainian President Volodymyr Zelensky together for truce talks that neither side particularly wants but which Turkish officials insist are both essential and realistic.

Siamak's brother, Babak Namazi, said in a statement Saturday that Iranian authorities had granted his sibling a further three-day furlough and that he hoped a longer extension would follow.

The latest package -- the eighth since Russia's invasion in February -- is now going through a final approval procedure which, if no objections emerge, will be published and come into effect on Thursday, the Czech Republic's EU ambassador said.

"Efforts are underway with the European coordinator and other mediators, including the foreign ministries of neighboring countries, to exchange messages to reach an agreement, said Nasser Kanani, Iran's foreign ministry spokesman.

The world's number two clothing group is among a slew of Western companies that have exited Russia following Moscow's invasion of Ukraine. H&M paused all sales in the country in March and announced in July that it would wind down operations, although it would reopen stores for "a limited period...