FT - Higher energy prices and a weakened rouble saw second-quarter profits soar at three of Russia’s largest oil and gas groups, underlining a strong earnings season for the country’s energy industry that has weathered international sanctions to reap strong earnings.

REUTERS - The lawsuit filed with the ICJ says the U.S. sanctions, which are damaging the already weak Iranian economy, violate terms of a little-known friendship treaty between the two countries.

ARAB NEWS - “Total has officially left the agreement for the development of phase 11 of South Pars (gas field). It has been more than two months that it announced that it would leave the contract,” he told the ICANA news agency, which is linked to the oil ministry.

PLATTS - "This has been discussed for a while with Russia's largest trading partners such as India and China. Even Arab countries are starting to think about it... If they do create difficulties for our Russian banks, all we have to do is replace [dollars],"

REUTERS - “This trade war is slowing down and destroying economic growth - and it creates new uncertainties,” Altmaier told Bild am Sonntag newspaper, adding that consumers suffered the most because higher tariffs were driving up prices.

PLATTS - The Southern Gas Corridor has received a waiver from US sanctions against Iran's energy customers, an expected win for the project, designed to transport 16 Bcm/year of Caspian natural gas to Turkey and southern Europe while bypassing Russia.

REUTERS - “U.S. decisions on sanctions do not affect the legal situation in Switzerland with regard to Iran,” said Fabian Maienfisch of the State Secretariat for Economic Affairs (SECO).

ARAB NEWS - US President Donald Trump warned the world against doing business with Iran on Tuesday as he hailed the “most biting sanctions ever imposed,” triggering a mix of anger, fear and defiance in Tehran.

REUTERS - The bill includes restrictions on new Russian sovereign debt transactions, energy and oil projects and Russian uranium imports, and new sanctions on Russian political figures and oligarchs.

PLATTS - "I have not seen this bill, we need to study it from a legal point of view, but based on what the media has written about it, this is, in my opinion an absurd bill that offsets all market rules," Novak told journalists, Prime reported.