Morning Briefing: July 19, 2025

ISTANBUL

Here’s a rundown of all the news you need to start your Saturday, including a ceasefire deal between Israel and Syria; a major US-Venezuela prisoner swap involving more than 200 detainees; and the EU’s toughest sanctions yet against Russia targeting Nord Stream pipelines and military exports.

TOP STORIES

• Israel, Syria agree to ceasefire, says US ambassador to Türkiye

Israel and Syria have agreed to a ceasefire supported by Türkiye, Jordan and its neighbors, according to US Ambassador to Ankara Tom Barrack.

"Israeli Prime Minister @Netanyahu and Syrian President @SyPresidency supported by the U.S.A. @SecRubio have agreed to a ceasefire embraced by Türkiye, Jordan and its neighbors," Barrack, who also serves as US special envoy for Syria, wrote on X.

"We call upon Druze, Bedouins, and Sunnis to put down their weapons and together with other minorities build a new and united Syrian identity. We urge all Syrians to honor each other and live in peace and prosperity with their neighbors," he added.

• Over 200 prisoners released in major US-Venezuela prisoner swap

The US and Venezuela completed a prisoner swap, with 10 Americans freed in exchange for more than 200 Venezuelans held in a prison in El Salvador.

CNN reported that around 250 Venezuelans the Trump administration transferred to a high-security prison in El Salvador were sent back to Venezuela in exchange for Americans the US says were "wrongfully detained."

Secretary of State Marco Rubio welcomed the release of the US nationals, calling it the result of President Donald Trump’s “leadership and commitment to the American people.”

• EU to ban imports via Nord Stream pipelines under new Russia sanctions: Foreign policy chief

The EU has approved one of its "strongest" sanctions packages on Russia, including a ban on imports from the Nord Stream pipelines and tighter restrictions on oil exports, the bloc's foreign policy chief said.

"We are standing firm. The EU just approved one of its strongest sanctions package against Russia to date," Kaja Kallas said on X.

"Nord Stream pipelines (imports) will be banned. A lower oil price cap. We are putting more pressure on Russia’s military industry, Chinese banks that enables sanctions evasion, and blocking tech exports used in drones," she added.

NEWS IN BRIEF

• US President Donald Trump announced additional release of hostages from the Gaza Strip is expected soon.
• At least three people were killed in an explosion at the Los Angeles County Sheriff’s Department’s Biscailuz Training Center in the US state of California, according to the Los Angeles Times newspaper.
• The UK has imposed fresh sanctions on several Russian military intelligence officers and GRU spy units as part of a crackdown on Moscow’s sustained campaign of hybrid warfare against the West.
• Israel will allow limited deployment of Syrian internal security forces into the southern city of Suwayda for 48 hours amid escalating violence in the region, according to Israeli media.
• Turkish Republic of Northern Cyprus (TRNC) President Ersin Tatar stressed that formal negotiations on the Cyprus issue will not resume unless the sovereign equality and international status of Turkish Cypriots are recognized.
• US President Donald Trump sued the Wall Street Journal (WSJ) and its owner, Rupert Murdoch, for at least $10 billion in damages for a report that claimed he wrote a lewd birthday letter to disgraced financier Jeffrey Epstein.
• Rome dimmed the lights of the iconic Trevi Fountain for one hour in a symbolic call for a ceasefire in the Gaza Strip, following a city council resolution last month that was titled, “Rome will not remain silent.”
• Secretary of State Marco Rubio said the US is restricting visas for Brazilian judicial officials and their immediate family members.
• Air traffic at Tel Aviv’s Ben Gurion International Airport was suspended following the launch of a missile from Yemen, according to Israeli Channel 12.
• Albanian Prime Minister Edi Rama suggested that artificial intelligence (AI) could soon play a key role in the country's governance, hinting at the possibility of an AI-run government ministry.
• Brazilian police raided the home and political headquarters of former President Jair Bolsonaro.
• Hezbollah Secretary-General Naim Qassem said the US wants a new agreement in Lebanon that begins with disarming Hezbollah in exchange for a "partial" Israeli withdrawal from the south.

BUSINESS & ECONOMY

• Trump signs landmark crypto bill into law, establishing stablecoin framework

US President Donald Trump signed landmark crypto legislation into law, establishing the first federal regulatory framework for stablecoins.

Trump, a former crypto skeptic, has sought to recast himself as a crypto defender in his second term, pushing lawmakers to pass legislation to bolster the US' standing in the digital market.

"This afternoon, we take a giant step to cement the American dominance of global crypto technology as we sign the landmark GENIUS Act into law. So congratulations to everybody. It's a big deal," he said at a White House signing ceremony with members of the crypto industry in attendance.

• G20 finance ministers point to need for reforms in world economy

G20 finance ministers and central bank governors said the global economy is facing complex challenges and significant uncertainties, and highlighted the need for reforms.

In a joint statement, the finance ministers stated that in light of high public debt and fiscal pressures, it is recognized that the need to raise long-term growth potential by pursuing growth-oriented macroeconomic policies, while building fiscal buffers, ensuring fiscal sustainability, encouraging public and private investments and undertaking productivity-enhancing reforms.

"Structural reforms are essential for generating strong economic growth and creating more and better jobs," read the statement.