World
G7 will seek to seize assets of key Russian elites -Yellen
The Group of Seven major economies will convene a task force to focus on freezing and seizing assets of key Russian elites as it aims to put further pressure on Russia after its invasion of Ukraine, Reuters quoting U.S. Treasury Secretary Janet Yellen said on Tuesday.
The move “will inflict financial pain on the powerful individuals surrounding (Russian President Vladimir) Putin and make clear that no one is beyond our collective reach,” Yellen said in a statement after a virtual G7 meeting of finance chiefs.
The G7 will also continue to endorse removing key Russian financial institutions from the SWIFT banking system, she said, adding that the group expects that sanctions imposed so far will “hamstring the Russian government’s ability to fund its invasion.”
Russia calls its actions in Ukraine a “special operation.”
The sanctions have had an immediate impact on Russia’s economy, with queues forming outside banks as Russians rush to salvage their savings. Oil company Royal Dutch Shell Plc on Tuesday became the latest big Western firm to pull out of the country, Reuters reported.
The measures limit Moscow’s use of a $640 billion war chest to defend its currency but it remains to be seen whether Russia can find other channels for trade and financing of its economy.
Notably, Chinese businesses and banks are looking for ways to limit the impact of sanctions on their relations with Russia, with settlement of transactions in yuan seen rising at the expense of the dollar.
According to Reuters earlier on Tuesday, Germany’s finance minister, Christian Lindner, said the G7 expected an agreement in the coming days on possible further sanctions, though he gave no details about what moves were under discussion.
“We want to isolate Russia politically, financially and economically,” Lindner told reporters after the virtual meeting chaired by Germany.
“We had an exchange on the implementation of the current sanctions and we also exchanged proposals on what additional measures could be taken,” he said, adding: “And in the coming days there will be an agreement on this.”
Lindner said the impact of measures curbing the activities of the Russian central bank and excluding Russian banks from the SWIFT inter-bank messaging system had already exceeded expectations, read the report.
“The rouble is in free-fall,” he said as the Russian currency weakened to around 112 to the dollar in trade on Tuesday.
Japanese Finance Minister Shunichi Suzuki said G7 capitals had stressed the need for tight coordination of their measures against Moscow during the talks, which Ukraine’s finance minister, Sergii Marchenko, also joined.
Meanwhile, France’s Bruno Le Maire declared an “all-out economic and financial war” against Russia to bring down its economy before rowing back on language he later said was inappropriate.
World
At least 30 dead in stampede at Haiti’s historic Laferriere Citadel
The stampede occurred at the Laferriere Citadel, an early-19th-century fortress built shortly after Haiti’s independence from France.
At least 30 people were killed on Saturday in a stampede in the northern countryside of Haiti, authorities said, warning that the death toll could rise, Reuters reported.
Jean Henri Petit, head of Civil Protection for Haiti’s Nord Department said the stampede occurred at the Laferriere Citadel, an early-19th-century fortress built shortly after Haiti’s independence from France.
One of Haiti’s most popular tourist attractions, the fortess was packed with students and visitors on Saturday who had come to participate in the annual celebration of the UNESCO World Heritage site, read the report.
World
US, Iran teams in Pakistan for peace talks amid doubts over Lebanon, sanctions
The Iranian delegation, led by parliamentary Speaker Mohammad Baqer Qalibaf and Foreign Minister Abbas Araqchi, arrived on Friday.
Senior U.S. and Iranian leaders were in the Pakistani capital Islamabad on Saturday for negotiations to end their six-week-old war, although Tehran threw the talks into doubt by saying they could not begin without commitments on Lebanon and sanctions, Reuters reported.
The U.S. delegation, led by Vice President JD Vance and including President Donald Trump’s special envoy Steve Witkoff and son-in-law Jared Kushner, landed in two U.S. Air Force planes at an air base in Islamabad on Saturday morning, where they were received by Pakistan’s army chief, Field Marshal Asim Munir, and Foreign Minister Ishaq Dar.
The Iranian delegation, led by parliamentary Speaker Mohammad Baqer Qalibaf and Foreign Minister Abbas Araqchi, arrived on Friday.
These will be the highest-level U.S.-Iran talks since the Islamic Revolution of 1979. If the two sides hold face-to-face negotiations as expected, they would be first direct talks since 2015, when they reached a deal on Iran’s nuclear programme.
Trump scrapped the nuclear deal in 2018 during his first term in office. That year, Iran’s then-Supreme Leader Ayatollah Ali Khamenei – who was killed at the start of the war six weeks ago – banned further direct talks between U.S. and Iranian officials.
Qalibaf said on X that Washington had previously agreed to unblock Iranian assets and to a ceasefire in Lebanon, where Israeli attacks on Iran-backed Hezbollah militants have killed nearly 2,000 people since the start of the fighting in March. He said talks would not start until those pledges were fulfilled.
Israel and the U.S. have said the Lebanon campaign is not part of the Iran-U.S. ceasefire.
Iran’s state broadcaster said the Iranian delegation would meet Pakistani Prime Minister Shehbaz Sharif around noon (0700 GMT) to determine the timing and manner of “possible negotiations”.
Qalibaf said Iran was ready to reach a deal if Washington offered what he described as a genuine agreement and granted Iran its rights, Iranian state media reported.
The White House did not immediately comment on the Iranian demands, but Trump posted on social media that the only reason the Iranians were alive was to negotiate a deal.
“The Iranians don’t seem to realize they have no cards, other than a short term extortion of the World by using International Waterways. The only reason they are alive today is to negotiate!” he said.
Vance, speaking as he headed to Pakistan, said he expected a positive outcome but added: “If they’re going to try to play us, then they’re going to find the negotiating team is not that receptive.”
Preliminary discussions have been separately held by Pakistani officials with advance teams from both sides, sources in Islamabad said.
Iran’s semi-official Tasnim news agency said these included 70 members from Tehran, including technical specialists in economic, security and political fields as well as media personnel and support staff. About 100 members of an advance U.S. team were in the city, a Pakistani government source said.
Pakistan’s Dar said he hoped the U.S. and Iran would engage in constructive talks to reach a “lasting and durable solution to the conflict”, according to a statement from Pakistan’s foreign ministry.
A Pakistani source said it was too early to say whether talks would end on Saturday, adding there was no time limit for negotiations.
Islamabad was under an unprecedented lockdown ahead of the talks with thousands of paramilitary personnel and army troops on the streets, read the report.
Trump announced a two-week ceasefire in the war on Tuesday, which has halted U.S. and Israeli airstrikes on Iran.
But it has not ended Iran’s blockade of the Strait of Hormuz, which has caused the biggest-ever disruption to global energy supplies, or calmed the parallel war between Israel and Hezbollah in Lebanon.
Israeli and Lebanese officials will hold talks in Washington on Tuesday, both sides said, amid conflicting accounts on what those talks would cover.
Lebanon’s presidency said officials from the two countries had spoken by phone on Friday and agreed to discuss announcing a ceasefire and setting a start date for bilateral talks under U.S. mediation. But Israel’s embassy in Washington said the talks would constitute the start of “formal peace negotiations” and that Israel had refused to discuss a ceasefire with Hezbollah.
Tehran’s agenda at the Islamabad talks also includes demands for major new concessions, including the end of sanctions that crippled its economy for years, and acknowledgment of its authority over the Strait of Hormuz, where it aims to collect transit fees and control access in what would amount to a huge shift in regional power.
Iran’s ships were sailing through the strait unimpeded on Friday, while those of other countries remained hemmed inside.
Disruption to energy supplies has fed inflation and slowed the global economy, with an impact expected to last for months even if negotiators succeed in reopening the strait.
The hard line taken by Iran’s leaders ahead of the negotiations followed a defiant message from its new supreme leader, Ayatollah Mojtaba Khamenei, on Thursday.
Khamenei, yet to be seen in public and said to be suffering from severe facial and leg injuries sustained in the attack that killed his father, said Iran would demand compensation for all wartime damage. “We will certainly not leave unpunished the criminal aggressors who attacked our country,” he said.
Although Trump has declared victory and degraded Iran’s military capabilities, the war has not achieved many of the aims he set out at the start: to deprive Iran of the ability to strike its neighbours, dismantle its nuclear programme and make it easier for its people to overthrow their government, Reuters reported.
Iran still possesses missiles and drones capable of hitting its neighbours and a stockpile of more than 400 kg (900 pounds) of uranium enriched near the level needed to make a bomb. Its clerical rulers, who faced a popular uprising just months ago, withstood the war with no sign of organised opposition.
World
Vance warns Iran not to “play us” as he leaves for talks
Vice President JD Vance said on Friday he was looking forward to having positive negotiations with Iran as he left for talks in Pakistan with a warning to Tehran not to “play us.”
“We’re looking forward to the negotiation. I think it’s going to be positive,” Vance told reporters before leaving Washington.
“As the president of the United States said, if the Iranians are willing to negotiate in good faith, we’re certainly willing to extend the open hand,” Vance said. “If they’re going to try to play us, then they’re going to find the negotiating team is not that receptive.”
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