Europe
EU sanctions retired Swiss colonel and oil traders for aiding Russia
The EU has added a former Swiss army colonel to its sanctions list. According to the EU, the 70-year-old Jacques Baud spread conspiracy theories about the war in Ukraine and acted as a spokesperson for pro-Russian propaganda.
According to the EU executive order published on Monday, the “strategic analyst” is a “regular” guest on pro-Russian television and radio programs. Baud claimed, for example, that Ukraine triggered its own invasion to join NATO.
“Baud helps to undermine or threaten the stability and security of Ukraine through information manipulation and influence operations,” Brussels added. The EU Council, where the 27 member states are represented, adopted the proposal from the European External Action Service (EEAS) on Monday.
Baud, a Swiss citizen, has also been subjected to an asset freeze. In addition, EU citizens and companies are prohibited from providing him with funds, financial assets, or economic resources. He is also subject to a travel ban, prohibiting him from entering or transiting through the EU.
The State Secretariat for Economic Affairs (Seco) in Bern announced that it was aware of the EU’s decision and thus the sanctions against Baud.
However, Seco stated to the Keystone-SDA news agency that Switzerland has not adopted the latest sanctions list. This is because Switzerland did not join the sanctions regime that the EU adopted in October of last year concerning “Russia’s hybrid threats.”
According to the statement, in addition to Baud, the EU imposed sanctions on Monday on eleven other individuals, a Russian military unit, and a propaganda group for their “destabilizing activities.” The regulation currently lists 59 individuals and 17 entities for “Russia’s destabilizing activities.”
According to a report in Reuters, the European Union has adopted new sanctions against Russian oil interests. These sanctions target traders Murtaza Lakhani and Etibar Eyyub on the grounds that they “helped Moscow circumvent Western sanctions on its crude oil exports, which help finance its war in Ukraine.”
The EU’s latest sanctions prohibit the bloc’s citizens from doing business with the listed companies and individuals, restricting their access to shipping and insurance providers.
The EU Council and the Official Journal of the European Union announced that Brussels is targeting nine individuals and organizations supporting Russia’s shadow oil tanker fleet. The statement referred to businessmen connected with oil companies Rosneft and Lukoil, as well as shipping companies that own and operate the tankers.
Canadian-Pakistani oil trader Murtaza Lakhani is the CEO of the trading company Mercantile & Maritime.
The listing in the Official Journal of the European Union states, “Through his companies, he enables the shipment and export of Russian oil, particularly from the Russian state oil company Rosneft. Murtaza Lakhani controls vessels that transport crude oil or petroleum products of Russian origin or exported from Russia.”
The 63-year-old Lakhani manages the medium-sized trading company Mercantile & Maritime Group, which has offices in Singapore and London.
Lakhani began his career at the global trading company Glencore, where he worked on Iraqi oil exports during the Saddam Hussein era, and later moved to the Kurdistan region of Iraq. There, he acted as an intermediary between the oil ministry and international companies, selling oil independently from Baghdad.
During this period, he helped the state-controlled energy giant Rosneft sign oil and gas deals in the Kurdistan Regional Government of Iraq and worked closely with Rosneft CEO Igor Sechin, including at signing ceremonies held at the economic forum in St. Petersburg.
Building on this relationship, Lakhani partnered with the leading oil trader Vitol to invest a 5% stake in Vostok Oil in the Arctic, Rosneft’s largest oil project in recent decades.
In an interview with the program SolovievLive at the St. Petersburg Forum in June, Lakhani said, “This country (Russia) is the world’s largest resource country. Blocking it is a very short-term effect, not a long-term goal for anyone. They will always need Russia.”
The EU also added Valeri Kildiyarov to the list, who is a director of the sanctioned Lukoil trading subsidiary Litasco Middle East DMCC and a manager at Alghaf Marine, another Lukoil trading company in Dubai.
The EU Council announced that the listing of Eyyub, along with Anar Madatli and Talat Safarov, was related to their ties with the trading company Coral Energy, which was renamed 2Rivers Group.
Coral Energy became one of Russia’s largest oil traders. 2Rivers, which was renamed after a management buyout in 2024, claimed that the company had largely ceased its Russian oil trading in 2023 and terminated its last contract at the beginning of 2024.
Following UK and EU sanctions, the company announced in June that it had ceased all trading activities before dissolving its operations in August.
Europe
Serbia’s Vucic criticises KFOR commander over Ibar Bridge withdrawal
Serbian President Aleksandar Vucic has reacted against the KFOR commander who decided to open the main bridge over the Ibar River in Kosovska Mitrovica.
Speaking to journalists during a visit to the new emergency department building of the health centre in Kursumlija, the President announced that he would write a letter to NATO Secretary General Mark Rutte to request that the main bridge over the river not be opened.
This step follows the decision by the Kosovo Force (KFOR) to withdraw from the main bridge dividing North and South Mitrovica after approximately 27 years.
The current commander of the NATO-led Kosovo Force (KFOR) is Major General Ozkan Ulutas.
Italian Carabinieri removed their tents on the northern side of the bridge, marking the start of a gradual withdrawal of the permanent presence of NATO-led international troops.
In a statement to German broadcaster Deutsche Welle, KFOR said that after the completion of the process, it would maintain a visible and strong presence in North Mitrovica and throughout northern Kosovo, and would “continue to contribute to maintaining a safe and secure environment for all communities.”
No statement was made regarding whether the Kosovo Police would take over the security of the bridge.
The newspaper Srpske novine had previously reported that Brussels had confirmed the necessary conditions for opening the Ibar Bridge.
Now, for the first time, a concrete written step is coming from Serbia’s highest official, addressed directly to the head of the Alliance.
“I will send a letter to Rutte this evening. So what can we do? We will fight as much as we can,” Vucic said.
Placing the Ibar Bridge issue within the broader context of relations with Pristina and the West, the President claimed that this was an attempt to exert pressure on Belgrade.
The Serbian leader continued:
“They thought everything was going in their favour; first they broke up Yugoslavia, then Serbia and Montenegro; now they want to separate Kosovo, which Serbia does not and will not accept, and they think they can use this to pressure us.”
Asked by a reporter about growing concerns among Serbs in Kosovo regarding the conduct of Albanian Prime Minister Albin Kurti, Vucic asserted that Serbs were being “harassed with unfounded accusations” and were subsequently not even allowed to prove their innocence.
“This is an act of terror; it stems not only from Albin Kurti, but also from his backers in the West,” Vucic said.
The President cited the case of Nenad Raskovic as an example. According to his claim, media outlets had reported for a month that this individual had been beaten over a gambling debt.
Vucic said hundreds of reports had been published claiming Raskovic had a gambling debt and was beaten by Serbs, but they later admitted to filing lawsuits against two police officers.
The President maintains that the admission that an investigation had been launched against two police officers over their conduct toward Raskovic refutes earlier claims that the beating stemmed from a gambling debt.
He also sharply criticised the KFOR command on this matter:
“What liars, what scoundrels. And the situation of those who support them and open the Ibar Bridge is even worse. Everyone is playing dumb, even the KFOR commander is playing dumb. Tonight I will send a letter to Rutte.”
It remains unclear whether the Serbian president’s letter will affect the timeline for transferring control of the bridge from international troops to the Kosovo Police. According to the Pristina administration’s interior minister, this process has already begun.
Europe
German investment in the US drops to three-year low in first half
German companies reduced their investments in the US in the first half of 2026 to their lowest level in three years.
According to Reuters, this resulted from firms limiting their exposure to Washington’s uncertain trade policies.
Calculations by the German Economic Institute (IW) show that direct investment in the first half dropped by roughly two-thirds year-on-year to 4.3 billion euros ($5 billion).
This marks the lowest level since 2023.
According to the report, which is based on Deutsche Bundesbank data, this figure represents a decline of approximately 80% compared with the same period in 2024.
“This is a continuation of the downward trend observed since the start of Donald Trump’s second term in January 2025,” IW researcher Samina Sultan told Reuters.
Since returning to office, Trump has threatened most of the US’s international trading partners with tariffs in an effort to extract concessions advantageous to Washington.
For instance, to avert steep tariffs on its exports to the US, the European Union signed an agreement last year that included an investment pledge of $600 billion.
Data show that during the five years preceding the COVID-19 pandemic, first-half investments by German companies in the US averaged 15.8 billion euros. That figure is nearly four times the 2026 level.
However, Sultan noted that the 2020–2023 period was shaped by the “extraordinary circumstances” of the pandemic, with net investment outflows recorded in certain years.
Researchers also examined the composition of investment flows throughout 2025 and found that both direct investment loans and reinvested earnings were exceptionally high, whereas equity capital in the narrower sense—the balance between new investments and liquidations—remained below average.
“Consequently, companies already operating in the US continue to reinvest the profits they generate there back into the country. This shows that the US remains an attractive market overall,” Sultan said.
On the other hand, Sultan added that companies are hesitant to commit fresh capital.
European governments are also growing increasingly cautious regarding American investments in the Old Continent.
According to an assessment by The Economist magazine, while US firms do not hold a large share of overall investment in Europe, they are concentrated in critical sectors.
Two-fifths of the business that American firms generate from foreign governments comes from the IT and defence sectors, where switching to new suppliers is costly and complex.
At an aggregate level, the magazine estimates that American companies account for a relatively small share of public spending abroad.
Of the $25 trillion in sales generated by listed American companies last year, roughly $500 billion (or 2%) came from foreign governments.
This corresponds to approximately 7% of public procurement across non-US OECD countries, which account for the vast majority of that spending.
Some countries are more dependent than others. In terms of the volume of government contracts won by American firms last year, figures from data provider TenderAlpha show that Australia (6% of contracts) and the UK (4%) are more reliant than France (2%) and Germany (1%).
Europe
Iran weighs strikes on US bases in Europe if tensions escalate
The Iranian leadership is weighing the option of striking American military facilities in Europe should US President Donald Trump escalate tensions.
According to a report by the Financial Times citing two sources close to Iranian officials, Tehran has worked on potential strike plans targeting American facilities in Southeastern Europe. In this context, Bezmer Air Base in Bulgaria, used by the US military for aircraft refuelling, alongside Cyprus, which hosts British military bases, were listed among potential targets. Iran was also reported to have evaluated the possibility of attacking undersea fibre-optic cables in the Strait of Hormuz.
The sources stated that in the event of a new conflict, Tehran could expand its strike range beyond the borders of the Middle East. One source said: “If the US goes too far, Iran will defend itself at all costs, go beyond the region’s borders, and strike Europe.”
The Tehran government has previously attempted strikes against long-range targets. The US announced in February that missiles were launched towards the Diego Garcia base in the Indian Ocean, while Türkiye stated in March that it intercepted Iranian-origin ballistic missiles in mid-air. The report noted that Tehran might find it more convenient to act through allied groups in Iraq, Lebanon, and Yemen rather than via direct action.
Iran accelerates preparations for potential major conflict
According to a report by The Wall Street Journal citing Iranian and Arab officials, Tehran has prepared a comprehensive plan against the possibility of conflict reigniting in the Middle East. Sources indicated that Tehran views the memorandum signed with the US in June as an attempt by Washington and Israel to buy time ahead of a new offensive.
Iran has been conducting preparations over the past two months against the prospect of an expanded conflict. The report noted that officials have increased Islamic Revolutionary Guard Corps oversight of the regular armed forces, appointed veterans of the Iran-Iraq War to key posts, expanded counterintelligence operations, and accelerated missile and drone production.
Data from Arab intelligence services indicates that Iran also maintains contact with armed groups in Yemen and Iraq. Tehran’s objective is reportedly to raise costs for the US and prevent a recurrence of the previous conflict.
The Wall Street Journal sources also reported that Tehran expects attempts to instigate domestic unrest. Commenting on the matter, Mehdi Mohammadi, an adviser to Iran’s chief negotiator, said: “Iran is ready for a major conflict.”
The war between the US and Iran began in February. The two countries signed a ceasefire memorandum in June, but the resulting agreement lasted only a few weeks. Following the resumption of hostilities, Iran maintained its naval blockade in the Strait of Hormuz, while the US continued its blockade of Iranian vessels and ports.
Negotiations for a new agreement are currently suspended. Trump stated that the US is maintaining negotiations and economic pressure on Tehran, adding that ending the Iranian nuclear programme remains one of the primary goals of the American operation. However, citing its own sources, Al Arabiya reported on 17 August that Washington and Tehran had extended the peace agreement.
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