Venezuelan oil exports drop sharply after U.S. tanker seizure
Venezuela’s oil shipments have plunged following the United States’ seizure of a tanker earlier this week....
All NATO members are expected to meet the longstanding target of spending 2% of GDP on defence this year, but only three currently reach a new, higher target set by alliance leaders in June, according to NATO data released Thursday.
Military spending across NATO has risen sharply in recent years, spurred by Russia’s 2022 full-scale invasion of Ukraine and calls from U.S. leaders for European allies to invest more in their own defence. Last year, more than 10 of NATO’s 32 members fell short of the 2% goal agreed in 2014.
Figures for 2025 show all allies meeting the target, with seven just at the 2% minimum and several slightly above. Poland leads in defence spending as a share of GDP at 4.48%, followed by Lithuania at 4% and Latvia at 3.73%. These three countries are currently the only NATO members exceeding the new 3.5% target agreed at the June summit in The Hague.
The new goal is part of a broader plan to reach 5% of GDP on defence and security-related investments by 2035, covering areas such as cybersecurity and infrastructure upgrades for military logistics.
Speaking at the opening of a Rheinmetall ammunition factory in Unterluess, Germany, NATO Secretary General Mark Rutte welcomed the increased spending but stressed that funding alone does not guarantee security.
“Cash alone doesn’t provide security,” he said. “Deterrence doesn’t come from 5%. Deterrence comes from the capability to fight potential enemies.”
Japan has lifted a tsunami advisory issued after an earthquake with a magnitude of 6.9 hit the country's northeastern region on Friday (12 December), the Japan Meteorological Agency (JMA) said. The JMA had earlier put the earthquake's preliminary magnitude at 6.7.
The United States issued new sanctions targeting Venezuela on Thursday, imposing curbs on three nephews of President Nicolas Maduro's wife, as well as six crude oil tankers and shipping companies linked to them, as Washington ramps up pressure on Caracas.
Iran is preparing to host a multilateral regional meeting next week in a bid to mediate between Afghanistan and Pakistan.
Kyiv has escalated its naval campaign against Moscow’s economic lifelines, claiming a successful strike on a vessel suspected of skirting international sanctions within the Black Sea.
An extratropical cyclone has caused widespread disruption across Brazil’s São Paulo state, with powerful winds toppling trees and power lines, blocking streets and leaving large parts of the region without electricity.
Türkiye’s Trade Minister Omer Bolat said Friday that discussions in Washington with U.S. officials have strengthened efforts to expand bilateral trade, moving closer to a $100 billion target.
Türkiye’s President Recep Tayyip Erdoğan and Pakistani Prime Minister Shahbaz Sharif held talks on Friday during the International Peace and Trust Forum in Ashgabat, Turkmenistan, focusing on bilateral relations as well as regional and global issues
Hungary has strongly criticised NATO Secretary-General Mark Rutte’s warning that Russia could be capable of attacking the alliance within five years, with Foreign Minister Péter Szijjártó describing the remarks as irresponsible and dangerous.
Thailand and Cambodia have agreed to halt all shooting from Friday evening following renewed fighting along their shared border, U.S. President Donald Trump said on Friday.
China’s Ministry of Commerce announced on Friday that it will introduce a licensing system for steel exports starting in 2026, covering around 300 steel products.
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