US Hits Firms Moving Iranian Oil and Major China Crude Terminal
According to Bloomberg, The US sanctioned more than 50 individuals, firms and vessels involved in exporting Iranian oil and liquefied petroleum gas, including a key crude-import terminal. The latest designations by the Treasury Department mark the latest effort by Washington to target the Beijing-Tehran energy trade. The agency’s Office of Foreign Assets Control said the […]
EU Imposes ‘Competition’ Sanction on Gucci, Chloé, and Loewe: Total Fine is €294 Million
The European Union has fined Gucci, Chloé, and Loewe a total of €157 million for obstructing competition. The brands are accused of interfering with the price policies of retailers, and regulatory pressures in the sector are increasing. The European Union’s competition authority has fined the brands Gucci, Chloé, and Loewe a total of €157 million […]
China targets five U.S. subsidiaries of South Korea’s Hanwha Ocean
China sacntioned five of South Korean shipbuilder Hanwha Ocean’s U.S. subsidiaries. This step is escalating tensions with Washington over their alleged involvement in a probe into the Chinese shipping industry. The sanctioned subsidiaries are Hanwha Shipping LLC, Hanwha Philly Shipyard Inc., Hanwha Ocean USA International LLC, Hanwha Shipping Holdings LLC and HS USA Holdings Corp., […]
UK targets Russian oil market in fresh sanctions
Britain is targeting Russia’s largest oil companies and the country’s “shadow fleet” of oil tankers in a bid to cut off Vladimir Putin’s ability to fund the war in Ukraine. The UK government is also pursuing a major Indian oil refinery and four Chinese oil terminals in a package of 90 new sanctions. The Russian […]
US, UK sanction huge Southeast Asian crypto scam network
According to Al Jazeera, the crackdown targets a number of entities and individuals linked to the Prince Group network that used hundreds of thousands of trafficked workers for defrauding people around the world. The United States and United Kingdom have announced sweeping sanctions against a Southeast Asia-based multinational crime network for running a chain of […]
U.S. sanctions 29 companies in China, Turkey, and UAE over Iran military support
The U.S. government announced a major expansion of its sanctions, adding 29 entries (26 entities and three addresses) to the Commerce Department’s Bureau of Industry and Security (BIS)’s restricted entity list. The sanctions target companies in China (15 firms), Turkey, and the UAE, which the U.S. accuses of providing illicit support to Iran’s military and […]
EU Eyes Sanctions on Russian Ruble-Backed Stablecoin A7A5
The move would prohibit EU-based individuals and companies from interacting with the token, either directly or via intermediaries. The European Union is weighing a fresh round of sanctions targeting A7A5, a ruble-backed stablecoin that has rapidly become the largest non-US-dollar pegged token in the world. The move would prohibit EU-based individuals and companies from interacting […]
EU to sanction firms using fake flags for Russian tankers
The European Union is set to impose sanctions on three companies accused of providing false flags to tankers operating within Russia’s shadow fleet. According to documents reviewed by Bloomberg, the accused companies allegedly assigned fake flags from Aruba, Curaçao and Sint Maarten to at least eight EU-sanctioned vessels. These measures form part of the EU’s […]
US sanctions six Indian firms for buying Iranian petroleum products
The United States has imposed sanctions on six Indian companies for allegedly engaging in significant transactions involving Iranian-origin petrochemical products. “The Iranian regime continues to fuel conflict in the Middle East to fund its destabilizing activities. Today, the United States is taking action to stem the flow of revenue that the regime uses to support […]
7,500 Trucks Stuck as Kazakhstan Cracks Down on Russian Border Trade to Stop China Tech Transfers
Kazakhstan’s customs service has dramatically tightened inspections of cargo traffic bound for Russia, creating massive queues at border crossings. According to Kommersant on October 2, since mid-September officers have been inspecting 99% of trucks carrying potentially sanction-sensitive goods from China into Russia. This has triggered multi-kilometer jams along the Kazakh-Russian frontier. “Many carriers, fearing inspection, […]