Russian Foreign Minister Sergei Lavrov condemned on Saturday sanctions imposed on Syria by the European Union, saying they "will lead to nothing good". "We have always said that unilateral sanctions will lead to nothing good. This ruins the partnership approach to any crisis," Lavrov told reporters on the sidelines of a summit of ex-Soviet states
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The European Union imposed a ban on purchases of Syrian oil on Saturday and targeted three Syrian firms in an expanded sanctions list meant to intensify pressure against President Bashar al-Assad's government. The new round of sanctions against Syria marks the first time Europe has targeted Syrian industry as it seeks to cut off Assad's
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Gold surged nearly 3% on Friday, hitting its highest level since last week's record, as investors sought refuge in safe haven assets following a bleak U.S. labor market report. Some investors viewed the lack of jobs growth in August as a sign the world's largest economy may be heading back into recession, heightening demand for
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European Union governments agreed on Friday to ban imports of Syrian oil and extended sanctions to seven new Syrian individuals and entities to intensify pressure on President Bashar al-Assad's government. The United States, the EU and other Western powers want Assad to end a violent five-month-old crackdown on pro-democracy protesters that the United Nations says
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European Central Bank President Jean-Claude Trichet told Italy to deliver on promises to control its strained public finances and reform its economy, adding to international pressure on weakened premier Silvio Berlusconi. ECB support is vital because the Frankfurt-based central bank has been buying Italian bonds in markets to keep yields low enough for Rome to
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The bad bank of nationalised mortgage lender Hypo Real Estate will swap Greek sovereign bonds with a face value of almost 1 bln euros ($1.4 bln) for new Greek debt as part of the second rescue package for Athens. The management and supervisory boards of FMS Wertmanagement said in a statement on Friday they were
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. * Worried about Afghan drugs, seeks economic gains Russia agreed with Tajikistan on Friday to extend the deployment of its military base in the country, a move likely to boost Moscow's influence in Central Asia after the pullout of NATO troops from Afghanistan. The expiry of Russia's current 10-year base lease deal with Tajikistan
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Foreign Minister Ahmet Davutoglu said on Friday Israel's diplomatic presence in Turkey was being cut to second secretary level, effectively expelling Israeli diplomats in protest over an Israeli raid on a Gaza-bound ship that killed nine Turks. "Turkey-Israel diplomatic relations have been reduced to a second secretary level. All personnel above the second secretary level
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Some of the world's richest families are cutting their holdings in gold to take profits on the run-up in prices and are buying high-end art to preserve their wealth during market turmoil, an executive advising these families said. While many of these families have been holding gold for a decade or more, building positions of
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Talks between Greece and international inspectors on whether it has met conditions for a new aid tranche have been put on hold, officials said on Friday, after disagreements over why and by how much its deficit cuts programme has fallen behind schedule. The pause in discussions — a clear sign of tension between the debt-choked
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