Japan's incoming Prime Minister Shinzo Abe suggested Dec. 21 that he might abandon the current government's policy of not allowing power companies to build new nuclear reactors, Kyodo reported.

Russia could provide support to Cyprus as part of an international bailout for the island, Russian President Vladimir Putin said at a Dec. 21 news conference after an EU-Russia summit, Reuters reported.

The European Union agreed on new sanctions against Iran on Dec. 21, freezing assets and banning travel of an additional 18 companies and institutions and one person allegedly involved in nuclear activities or providing support to the Iranian government, according to an EU statement, AFP reported.

Oil shipments from Iraq's autonomous Kurdistan region have fallen to around 5,000 barrels per day, down from roughly 30,000 barrels per day at the beginning of the week, two officials from Iraq's state-run North Oil Company said Dec. 20, Reuters reported.

Latvia will formally apply to join the eurozone in early 2013, with a view of adopting the currency in 2014, Latvian Prime Minister Valdis Dombrovskis said Dec. 19, The Guardian reported.

Iran is losing half of its oil revenues due to international sanctions targeting the Iranian nuclear program, Iranian Economy Minister Shamseddin Hosseini said Dec. 17 on state television, AFP reported.