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G7 energy ministers to discuss soaring prices amid Iran war

G7 energy ministers will discuss soaring energy prices due to the war in Iran on a call on Tuesday while a group of European Union leaders will do so later in the day, officials said. Oil prices surged to their highest levels since mid‑2022 on Monday propelled by fears of Gulf output cuts and disrupted tanker traffic. G7 finance ministers said on Monday they were prepared to implement "necessary measures" in response to the price surge but stopped short of committing to coordinated emergency releases of reserves. Even before the Iran crisis, European energy prices typically sat higher than those in the US and China. European Commission chief Ursula von der Leyen has promised to propose measures to tackle the issue at an EU summit next week. Read: Iran says oil blockade will continue until attacks end, Trump threatens to hit harder Tuesday's G7 call is scheduled for 1245 GMT. French Finance Minister Roland Lescure, whose country holds the G7 presidency this year, said ther...
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Turkey says it deployed six F-16 fighter jets, air defence systems to northern Cyprus

Turkey on Monday deployed six F-16 fighter jets and air defence systems to northern Cyprus to boost the security of the Turkish community there amid the war in Iran, the defence ministry said, adding that Ankara would take additional measures if needed. European powers have moved to ramp up military deployments to the ethnically-split island in recent days, after an Iranian drone, which security officials believe was fired by Hezbollah, an ally of Iran in Lebanon, hit the British Akrotiri air base in Cyprus last week. Read: PM Shehbaz expresses concern over attacks on Azerbaijan and Turkiye "In the context of the latest developments in our region, six F-16 fighter jets and air defence systems have been deployed to the Turkish Republic of Northern Cyprus as of today," the ministry said in a statement, adding that this was part of the phased planning to strengthen the breakaway state's security. "As a result of the evaluations to be made depending on the developments, additional measures will continue to be taken if necessary," it added. Turkey does not recognise the internationally-recognised and European Union-member Greek Cypriot administration in the south of the island, and is the only country to recognise the Turkish Cypriot state to the north. Read More: Iran launches fresh missile barrage after Mojtaba Khamenei takes charge Last week, NATO defences shot down a ballistic missile fired from Iran into Turkish airspace, in a significant escalation of a U.S.-Israeli war against Iran that has spread to the wider region. NATO member Ankara warned Iran on Saturday against firing more missiles towards it. Turkey has criticised the European deployments to Cyprus as moves that risk dragging the island into the conflict. The deployment comes amid worsening regional tensions in the Middle East and wider Gulf region. The United States and Israel continue to attack Iran with strikes as the latter continues to retaliate with its own strikes on US military bases in the region. Iran fired missiles at Israel early Monday in the name of the Islamic Republic's new leader, Mojtaba Khamenei, who was selected to succeed his slain father despite threats by the United States and Israel to target him next. Meanwhile, Israel struck five oil facilities in and around Tehran early Sunday, killing at least four people and sparking blazes that left the skies filled with acrid smoke.

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