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EU ready for ‘never-seen-before’ sanctions if Russia attacks Ukraine

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The European Union is ready to impose “never-seen-before” economic sanctions on Russia if it attacks Ukraine, Denmark said on Monday, and EU foreign ministers said they would send a unified warning to Moscow, Reuters reported.

East-West tensions have risen since Russia massed troops near Ukraine’s border, with Western countries fearing Moscow is preparing an invasion. Russia denies such plans.

Divergent interests in the 27-nation EU could hinder efforts to agree a joint position, and the EU is sidelined by direct Russia-U.S. talks, but ministers said it was essential to find unity.

“Knowing Russia’s tactics, I’m sure one of their aims is to splinter the West,” Lithuanian Foreign Minister Gabrielius Landsbergis said as ministers gathered for regular talks in Brussels. “This is a victory we cannot afford to give to the Russians.”

Danish Foreign Minister Jeppe Kofod told reporters: “There’s no doubt we are ready to react with comprehensive, never-seen-before sanctions if Russia were to invade Ukraine again.”

He declined to say what sectors would be targeted.

“Russia should know, (President Vladimir) Putin should know that the price of using provocations and military forces to change borders in Europe will be very, very high… We are ready to undertake the most severe sanctions, also more severe than in 2014,” he said.

According to Reuters the EU, along with the United States, imposed economic sanctions on Moscow targeting its energy, banking and defence sectors after Russia annexed the Crimean peninsula in 2014.

U.S. Senate Democrats have unveiled a bill to potentially punish Russian officials, military leaders and banking institutions. The EU says it is working with Washington on a sanctions package but has given no details.

German Chancellor Olaf Scholz has urged Europe and the United States to think carefully when considering sanctions, read the report.

Asked whether cutting Russia off from the SWIFT global messaging system should be an option, German Foreign Minister Annalena Baerbock said in Brussels the “hardest stick” may not always be the best way to deal with such a situation.

GAS DEPENDENCY

Austrian Foreign Minister Alexander Schallenberg said everything was on the table but also pointed to Austria’s dependency on Russia for 40% of its gas.

Asked about potential sanctions on the Nord Stream 2 pipeline from Russia to Germany, which is yet to win regulatory approval, he said sanctioning something that is not yet operative was not a credible threat.

Blinken is expected to join the EU meeting online at around 1400 GMT.

The top U.S. and Russian diplomats made no major breakthrough at talks on Ukraine on Friday but agreed to keep talking.

“We are here to do everything we can so that war does not break out,” Luxembourg Foreign Minister Jean Asselborn said.

For now, the EU does not plan to withdraw diplomats’ families from Ukraine, EU foreign policy chief Josep Borrell said after Washington announced such a move, Reuters reported.

The British Embassy in Ukraine said some of its staff and dependants were being withdrawn from Kyiv.

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G7 foreign ministers demand an end to attacks on civilians in Iran war

The ministers also reiterated the need to restore safe and ​toll-free freedom of navigation in the Strait ​of ⁠Hormuz.

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The foreign ministers of the G7 group of nations called ​on Friday for an immediate stop ‌to attacks against civilians and civilian infrastructure in the Iran war.

In a joint statement agreed ​on the second day of a ​G7 meeting in France – this year’s ⁠host country – the ministers said they ​had underscored the importance of minimising the ​impact of the conflict on regional partners, civilian populations and critical infrastructure.

“We focused on the value ​of diverse partnerships, coordination, and supporting ​initiatives, including to mitigate global economic shocks such ‌as ⁠disruptions to economic, energy, fertilizer and commercial supply chains, which have direct impacts on our citizens,” they said in the ​statement seen ​by ⁠Reuters.

The ministers also reiterated the need to restore safe and ​toll-free freedom of navigation in the Strait ​of ⁠Hormuz.

The G7 members are the United States, Britain, Canada, France, Germany, Italy and ⁠Japan, ​along with the European ​Union.

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US Vice President Vance emerges as key figure in Iran peace efforts: Report

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US Vice President JD Vance has taken a leading role in Washington’s efforts to broker peace with Iran, nearly a month into the ongoing conflict, according to US media reports on Friday.

An Axios report says Vance has been actively engaged in behind-the-scenes diplomacy, holding multiple discussions with Israeli Prime Minister Benjamin Netanyahu and coordinating with Gulf allies, while maintaining indirect communication channels with Iranian officials.

The White House reportedly views Vance as a central negotiator due to his senior position and his skepticism toward prolonged military engagements, making him a suitable envoy for sensitive negotiations.

Vance’s efforts include coordination with countries such as the United Arab Emirates and Qatar, focusing on de-escalation, potential peace talks, and regional security.

US President Donald Trump formally confirmed Vance’s role on Thursday, noting that he is working alongside Middle East Envoy Steve Witkoff and Jared Kushner on ongoing negotiations and will brief officials on developments regarding Iran.

White House officials told Axios that Vance’s seniority and opposition to extended foreign conflicts make him a more appealing interlocutor for Iran than other envoys, with Witkoff recommending him as the lead negotiator. “If the Iranians can’t strike a deal with Vance, they don’t get a deal. He’s the best they’re gonna get,” a senior administration official said.

While Vance assumes a larger diplomatic role, Witkoff and Kushner continue handling negotiations. Reports of a confrontation between Vance and Netanyahu were dismissed by US and Israeli sources as inaccurate.

According to the report, Vance initially expressed skepticism about the war’s duration, objectives, and resource impact but supported a strategy of overwhelming force once Trump decided to proceed. Vance remains aligned with Israel while carefully navigating differences between US and Israeli objectives, advisers said.

“He has his own views, but he is going to work according to Trump’s instructions and try to achieve an outcome that the president likes,” a source close to Vance added.

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Trump signature to appear on US currency, ending 165-year tradition

The Treasury is still producing notes bearing the signatures of former President Joe Biden’s Treasury secretary, Janet ​Yellen, and former Treasurer Lynn Malerba.

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U.S. paper currency will bear ‌President Donald Trump’s signature starting this summer, the first time a sitting president has signed American money, the Treasury Department said on Thursday.

The redesigned notes, planned to mark the 250th anniversary of American independence, will also for the first time in 165 years drop the signature of the ​U.S. treasurer, who reports to the Treasury Secretary and oversees the Bureau of Engraving and Printing, the U.S. ​Mint and other Treasury functions, Reuters reported.

The first $100 bills with Trump’s signature and that of U.S. Treasury Secretary ⁠Scott Bessent will be printed in June, followed by other bills in subsequent months. The new bills may take several ​weeks to circulate through banks.

The Treasury is still producing notes bearing the signatures of former President Joe Biden’s Treasury secretary, Janet ​Yellen, and former Treasurer Lynn Malerba.

Malerba will be the last of an unbroken line of treasurers whose signatures have appeared on U.S. federal currency since 1861, when the U.S. government first issued it.

The signature change is the latest effort by the Trump administration and its allies to put the ​president’s name on buildings, institutions, government programs, warships and coins. A federal arts panel, whose members Trump appointed, approved last ​week the design for a commemorative gold coin with Trump’s image.

Bessent said in a statement that the move was appropriate for the U.S. 250th ‌anniversary, given ⁠strong U.S. economic growth and financial stability during Trump’s second term, read the report.

“There is no more powerful way to recognize the historic achievements of our great country and President Donald J. Trump than U.S. dollar bills bearing his name, and it is only appropriate that this historic currency be issued at the Semiquincentennial,” Bessent said.

An effort for a circulating $1 Trump coin was set back by ​laws prohibiting the depiction of ​living individuals on U.S. coins.

A ⁠statute governing the printing of Federal Reserve notes gives the Treasury broad discretion to change designs to guard against counterfeiting. The law requires keeping certain elements, including the words “In God We ​Trust,” and only allows portraits of deceased individuals.

The overall designs of bills will not change, ​except for Trump’s ⁠signature replacing the Treasurer’s, Treasury officials said. A mock-up of the $100 bill with Trump’s signature was not immediately available.

Malerba, the former treasurer, declined comment on the Trump administration’s move.

Her predecessor, Jovita Carranza, who served as treasurer in Trump’s first term, called the change “a powerful ⁠symbol of ​American resilience, the enduring strength of free enterprise and the promise of ​continued greatness.”

The current treasurer, Brandon Beach, whose name has not appeared on the currency, also issued a supportive statement, saying Trump was the architect of a “golden ​age economic revival.”

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