G7 pledges new Russia energy sanctions as Iran deal frees Hormuz

G7 vows new Russia energy sanctions amid optimism for Ukraine peace G7 leaders committed to strengthening sanctions on Russia’s oil and gas sectors and boosting military aid to Ukraine, citing a new ‘momentum’ for peace. The statement tied the timing of additional measures to the US-Iran agreement that is expected to reopen the Strait of Hormuz, which had constrained global oil flows. 12

Russian drone barrage kills one, wounds seven in Zaporizhzhia Russian forces launched a large-scale Shahed drone attack on Zaporizhzhia overnight, killing one person and injuring seven others. An 800-square-meter fire broke out in a residential building, and emergency crews had to pause operations repeatedly due to the threat of ‘double-tap’ strikes. 3

Europeans hesitate to commit naval assets for rapid Hormuz clearance European officials are wary of rushing specialized demining vessels into the Strait of Hormuz because the ships are slow and lack defensive weaponry, making them vulnerable to attack. The U.S. is pressing allies to help clear Iranian mines by the end of the week, but many questions about the US-Iran agreement remain unanswered. 4

IEA warns post-war oil glut may follow Iran conflict demand destruction The International Energy Agency slashed its 2026 global oil demand forecast by 700,000 barrels per day, citing the demand destruction caused by the Iran war. It cautioned that a lasting resolution could unleash a surge in supply and trigger a major oil overhang in 2027, even as inventories remain under severe strain. 5

First Iranian oil tankers exit blockade as US-Iran deal signing nears At least two Iranian supertankers carrying 3.8 million barrels of crude have left the U.S. Navy blockade perimeter in the Strait of Hormuz, the first such exports in two months. The movement comes two days before formal talks on a final peace deal begin in Switzerland, with an immediate oil-sales waiver expected upon signing. 678

Keiko Fujimori holds slim lead as Peru runoff count nears end Ten days after Peru’s presidential runoff, right-wing candidate Keiko Fujimori leads leftist Roberto Sánchez by about 36,000 votes with 99.2% of ballots counted. Most of the roughly 200,000 votes still under review come from Lima and Callao, her strongholds, making a reversal highly unlikely. 9

Rick Jackson defeats Trump-backed Burt Jones in Georgia GOP governor runoff Billionaire healthcare executive Rick Jackson spent over $100 million of his own money to beat Lt. Gov. Burt Jones in Georgia’s Republican gubernatorial runoff. Jackson will face Democratic nominee Keisha Lance Bottoms in November, capping one of the most expensive and divisive intraparty contests in state history. 10

Israel intensifies ground fighting in south Lebanon as drone strikes injure five Israeli forces continued striking the Nabatieh district overnight, and two drone strikes on Mansouri injured five people. Israeli Finance Minister Smotrich declared there would be no withdrawal from Lebanon by Friday or afterward, while dozens of bodies are still being recovered from previously inaccessible villages. 11

Russia warns EU will collapse if Ukraine joins, as bloc criticizes Russia-China military ties Russian Foreign Minister Sergey Lavrov said admitting Ukraine to the EU could weaken the bloc’s economic and political standing and that a military transformation would invite disaster. The EU countered by criticizing growing Russia-China military cooperation, alleging Russian soldiers trained in China on drones are being deployed to Ukraine. 12