PARIS: Most French companies hoping to keep doing business in Iran after the US imposes new sanctions on the country will find it impossible to do so, Finance Minister Bruno Le Maire said Tuesday.
These companies “won’t be able to stay because they need to be paid for the products they deliver to or build in Iran, and they cannot be paid because there is no sovereign and autonomous European financial institution” capable of shielding them, Le Maire told BFM television.
The new sanctions announced by US President Donald Trump in May after he pulled out of a 2015 nuclear deal with Tehran would punish any foreign firm operating in Iran which also does business with the US or in dollars.
“Our priority is to build independent, sovereign European financial institutions which would allow financing channels between French, Italian, German, Spanish and any other countries on the planet,” Le Maire said.
“It’s up to us Europeans to choose freely and with sovereign power who we want to do business with,” he added.
“The United States should not be the planet’s economic policeman.”
Le Maire and his EU counterparts have been trying to secure exemptions for their firms, many of which rushed back into Iran after the landmark accord curtailing Tehran’s nuclear program.
But French oil group Total and carmaker PSA have already indicated they are unlikely to stay in the country, while Renault has said it will remain despite the sanctions — though it does not sell its cars in the US.
Analysts have warned it would be nearly impossible to protect multinationals from the reach of the “extraterritorial” US measures, given the exposure of large banks to the US financial system and dollar transactions.
The first round of the new sanctions, targeting Iran’s auto and civil aviation sectors, are scheduled to go into effect on August 6.
Most French firms ‘won’t be able to stay’ in Iran: France’s finance minister
Most French firms ‘won’t be able to stay’ in Iran: France’s finance minister
Australia women, Fiji men crowned champions at Dubai 7s
- Fiji beat Spain 19-5 to lift the men’s trophy and claim their first SVNS tournament victory since 2022
- Australia secured a fifth successive women’s tournament victory in Dubai but they had to work hard for it in an epic final against Olympic champions New Zealand
DUBAI: The Emirates Dubai 7s concluded on Sunday with wins from the Fiji men’s team and Australia’s women’s side in the first leg of the HSBC SVNS 2025 Series.
Fiji beat Spain 19-5 to lift the men’s trophy and claim their first SVNS tournament victory since 2022, and their first in Dubai since 2016. Argentina claimed the men’s bronze medal with a convincing 14-0 win over New Zealand.
Australia secured a fifth successive women’s tournament victory in Dubai but they had to work hard for it in an epic final against Olympic champions New Zealand which finished 28-24. France overcame Great Britain 15-12 to take home the women’s bronze medals.
The weekend also featured a three-day lineup of artists and DJs performing across the event’s three stages.
Alongside the HSBC SVNS action, the festival attracted teams from around the world to compete in invitational rugby, netball, cricket, padel tennis and fitness tournaments. This year saw the event’s biggest number of teams yet competing for the sought-after Dubai 7s trophies.
The Emirates Dubai 7s’ dedicated cricket zone was headed by a lineup of cricket ambassadors including former Indian international Dinesh Karthik and English players Tom Hartley and Georgia Elwiss, while global cricket supporter groups Bharat Army and Barmy Army flew to Dubai to compete in the event’s Open Competitive cricket tournament.
Mathew Tait, festival director of Emirates Dubai 7s, said: “This weekend has been our biggest Dubai 7s to date. The double-header music schedule, combined with our expansive F&B offering, thrilling international rugby and entertainment to suit all ages reinforces our reputation as the best weekend of the year for UAE residents of all ages.”
Amina Muaddi promotes ‘fuzzy’ collection
DUBAI: Jordanian Romanian luxury shoe designer Amina Muaddi is busy promoting her winter drops, with K-Pop star Rose wearing her heels in a recent photo shoot.
Muaddi took to Instagram to reshare Rose’s posts, where the star is seen being photographed for her latest single, “Number One Girl,” wearing a Lupita crystal slipper in green.
The designer’s latest collection, titled Drop 24/25, launched in October. Over the weekend, she used Instagram to promote winter-friendly shoes including the Veneda stretch boot, the Anok bootie and the Lila slipper.
In September, Muaddi unveiled her latest heels on none other than Rihanna, as the singing star was spotted at Milan Fashion Week. Muaddi created a custom pair of Anok mules in a shade called butter satin and Rihanna attended shows by Ferragamo, The Attico and Gucci, wearing each of the brands as she sat in the front row. She also turned heads at the Dior show during Paris Fashion Week last month, while French Saudi model Amira Al-Zuhair graced the runway for Danish fashion label Ganni.
Muaddi, a regular at Dior fashion shows, opted for a classic white button-down shirt and a sleek black satin pencil skirt. She accessorized her look with a pair of dark round sunglasses and a small textured blue Dior handbag.
Since launching her eponymous footwear line in August 2018, Muaddi has attracted a loyal following of celebrities including Dua Lipa, Gigi Hadid, Kylie Jenner and Hailey Bieber. Her brand, known for its distinctive footwear, bags and jewelry, has quickly become a favorite among the fashion elite.
Since the launch, Muaddi has enjoyed a series of successful events, notably her collaboration with Rihanna’s Fenty collection. Their partnership earned the Collaborator of the Year award at the 34th FN Achievement Awards in 2020.
A year later, Muaddi’s influence and success were further recognized when she was named one of Women’s Wear Daily and Footwear News’ 50 Most Powerful Women.
‘Foreign interference’ not behind Syria flareup: Turkiye
ANKARA: Turkiye, which backs militant factions in Syria, rejected Monday any suggestion that “foreign interference” was behind the offensive launched by Islamists in the country’s north.
“It would be a mistake at this time to try to explain the events in Syria by any foreign interference,” Foreign Minister Hakan Fidan said at a joint press conference in Ankara with his Iranian counterpart Abbas Araghchi.
The recent flareup which saw Damascus losing swathes of territory in northwestern Syria, including Aleppo, during a lightning offensive by militants, was due to the government’s failure to engage in dialogue with armed opposition groups, he said.
“The lack of talks between [Damascus] and the opposition has brought the problem to this point,” he said, describing it as “a mistake to ignore the legitimate demands of the opposition.”
“Damascus must reconcile with its own people and the legitimate opposition,” he added.
Turkiye did “not want an escalation of the civil war,” said the minister who told US Secretary of State Antony Blinken in a phone call Sunday that Ankara would support moves “to reduce tension” in Syria.
Araghchi said it was crucial “to protect the achievements of the Astana process” to end Syria’s civil war, which groups Ankara, Moscow and Tehran, and pledged to convene fresh ministerial talks in the Kazakh capital “soon.”
The last such meeting took place in mid-November.
“Syria must not become a center for terrorist groups,” warned Araghchi in reference to the militant factions that staged last week’s attack.
Fidan also said it was “important that terror organizations do not take advantage of the instability” although he was referring to Kurdish-led rebels that Ankara sees as an offshoot of the banned Kurdistan Workers’ Party (PKK). The PKK has led a led a decades-long insurgency against Turkiye.
Turkish troops and Turkiye-backed militant factions control much of northern Syria, and Ankara is concerned that the recent outbreak of fighting could swell the flow of people fleeing across the border.
“We don’t want civilians to be killed or cities bombarded or people being displaced. We want these displaced people to be able to go back. The flow of refugees must be reversed,” he said.
Turkiye is already hosting some 3.2 million Syrian refugees, according to UN data.
Syria’s Bashar Assad on Monday branded the Islamist-led offensive as a bid to redraw the map of the region in line with US interests in a phone call with his Iranian counterpart Masoud Pezeshkian.
Both Iran and Russia, which have backed Assad since Syria’s civil war broke out in 2011, have said they will help Damascus fight back after losing Aleppo, with Tehran confirming it would keep its military advisers in Syria.
Traders welcome decision to keep Khunjerab Pass linking Pakistan, China open year-round
- High-altitude Khunjerab Pass is closed from Nov. 30 to Apr. 1 each year due to harsh weather
- This year, border crossing has been opened from Dec. 1 for all kinds of trade and transportation
KHAPLU, Gilgit-Baltistan: In a first, the high-altitude Khunjerab Pass, the only land-connected route between China and Pakistan and a major trade station between the two nations, will remain open year-round for all types of trade and transportation, officials confirmed on Monday, with businesses welcoming the move.
At over 4.600 meters above sea level, Khunjerab, which connects Gilgit-Baltistan with China’s Xinjiang region, is the highest paved international crossing in the world and an important gateway to South Asia and Europe.
The pass is located in the Karakoram and holds a significant strategic position on the northern border of Pakistan, specifically in Gilgit-Baltistan’s Hunza and Nagar Districts. China mainly imports textiles, agricultural products and daily commodities through the pass, and exports plants and herbs.
Due to high altitude and harsh weather conditions, the border was previously open only between April to November and remained closed from December to March. Last October, however, Caretaker Prime Minister Anwaar-ul-Haq Kakar said at the Belt and Road Forum in Beijing that the pass would be converted into an all-weather border.
“The Government of the People’s Republic of China has formally concurred to the year-round opening of the Khunjerab Pass,” a latest notification from Pakistan’s Ministry of Foreign Affairs said.
“Consequently, operation of the Khunjerab-Sost border crossing are hence forth expanded from 1st April – 30thNovember each year to year-round operation,” the statement said, instructing all relevant agencies and government departments to continue their operations at the port from Dec. 1.
Confirming the development, Faizullah Faraq, the spokesperson for the Gilgit-Baltistan regional government, said authorities were “utilizing all resources” to clear the roads of snow on the Pakistani side to ensure smooth functioning of trade and transport activities.
The Gilgit-Baltistan region in northern Pakistan, flanked by soaring mountain ranges and glaciers, is also a major tourist destination in the country.
“The year-round opening of the border will also help in the promotion of tourism,” Faraq added. “The economic engagement of people of both regions [China and Pakistan] is associated with this border. So the local economy will be uplifted.”
Speaking to Arab News, Muhammad Iqbal, the president of the GB Importers and Exporters Association, welcomed the decision.
“The historic decision to keep the border open for the whole season will help boost import and export trade, and commerce between Pakistan and China,” he said. “For traders, this decision will ensure uninterrupted access to the Chinese market. This route will also give access to Central Asian and other countries and people-to-people contact between Pakistan’s G-B and China’s Xinjiang province will be enhanced.”
Imran Ali, the president of the Gilgit-Baltistan Chamber of Commerce, said “new avenues of development” would be opened by keeping the border open throughout the year.
“More than 20,000 people, including traders and laborers, are associated with this border, and due to this decision, business activities will be increased and traders and locals will directly get benefits,” he added.
According to APP, Pakistan’s state-run news agency, Khunjerab Pass recorded over 50,000 inbound and outbound passengers between Apr. 1 and the end of October, while import and export cargo volume reached 40,900 tones, up 42.6 percent and 72.7 percent year-on-year respectively.
China is a major ally and investor in Pakistan. The two countries collaborate on the China-Pakistan Economic Corridor, a flagship project under China’s Belt and Road Initiative, with more than $65 billion pledged for road, rail, and other infrastructure developments in the South Asian nation.
Two dead in attack on Sudan displacement camp: activists
- The Zamzam camp, south of the regional capital El-Fasher, was hit by heavy rocket and artillery fire from the RSF on Sunday morning
- Both sides face accusations of war crimes, including targeting civilians, shelling residential areas, and blocking or looting aid
Port Sudan, Sudan: At least two people were killed when Sudan’s paramilitary Rapid Support Forces attacked a camp for displaced people in the North Darfur region, activists said on Monday.
The Zamzam camp, south of the regional capital El-Fasher, was hit by heavy rocket and artillery fire from the RSF on Sunday morning, said the local resistance committee in El-Fasher.
The “indiscriminate” attack killed at least two people and wounded a dozen others, said the committee, one of hundreds of volunteer groups coordinating aid in Sudan.
The northeast African country has been gripped by a war between the regular army and RSF that has killed tens of thousands and displaced more than 11 million since April last year.
Both sides face accusations of war crimes, including targeting civilians, shelling residential areas, and blocking or looting aid.
UN humanitarian chief Tom Fletcher, after visiting Sudan and neighboring Chad last week, called for immediate international action to address the crisis.
“It is a tough situation out there, the biggest humanitarian crisis in the world. And I’ve been talking to local people to host communities,” Fletcher said in a weekend statement.
Nearly 26 million people — about half the population — face the threat of mass starvation in Sudan as both warring sides have been accused of using hunger as a weapon of war.
“These numbers are staggering, and we cannot turn our backs,” Fletcher said.