Page 2 - Us Sanctions

US expands sanctions on Myanmar, North Korea's aviation, defence sectors

The Biden administration is expanding sanctions against the aviation and defense sectors of North Korea and Myanmar as it continues to punish the two countries for weapons-related violations of US and United Nations regulations and human rights abuses. The Treasury Department announced Tuesday that it had imposed penalties on two agents for North Korea's state-owned airline Air Koryo and redesignated a previously sanctioned North Korean cyber agency that it said launders profits from cryptocurrency heists to further Pyongyang's weapons programs. Treasury also announced sanctions against the Myanmar aviation firm Sky Aviator Company Limited and its owner for facilitating weapons purchases for the country's military government to crackdown on protesters following a February 2021 coup. North Korean agents Ri Sok, an Air Koryo representative based in China, and Yan Zhihong, an airline logistics manager, were targeted with sanctions for their support for for North Korea's nuclear weapons

The integrated circuit wars

US chip sanctions on China should be a wake-up call for India to quickly scale up and boost its capabilities in this critical arena

Iran calls for expanding trade with Belarus to counter Western sanctions

Iranian Parliament Speaker Mohammad Baqer Qalibaf has said that Iran's expansion of economic and trade ties with Belarus can help minimise the impact of sanctions

Large Indian lenders shun direct rupee transactions in Russia trade: Report

Large Indian lenders are reluctant to process direct rupee trade transactions with Russia months after the mechanism was put in place for fear of becoming the target of sanctions by the United States

US looking to ease sanctions on Venezuela to boost oil supply: Report

The deal may be announced by the end of October and will allow US oil companies to drill oil in Venezuela, Nicolas Maduro will hold a free, fair presidential elections in 2024 in return

Iran may drain offshore crude oil cache if nuclear agreement reached

About 93 million barrels of Iranian crude and condensate are currently stored on vessels in the Persian Gulf, off Singapore and near China

Six months into war, Russian goods continues to flow to US amid sanctions

On a hot, humid East Coast day this summer, a massive container ship pulled into the Port of Baltimore loaded with sheets of plywood, aluminum rods and radioactive material all sourced from the fields, forests and factories of Russia. President Joe Biden promised to inflict pain and deal a crushing blow on Vladimir Putin through trade restrictions on commodities like vodka, diamonds and gasoline in the wake of Russia's invasion of Ukraine six months ago. But hundreds of other types of unsanctioned goods worth billions of dollars, including those found on the ship bound for Baltimore from St. Petersburg, Russia, continue to flow into US ports. The Associated Press found more than 3,600 shipments of wood, metals, rubber and other goods have arrived at US ports from Russia since it began launching missiles and airstrikes into its neighbor in February. That's a significant drop from the same period in 2021 when about 6,000 shipments arrived, but it still adds up to more than $1 billion

No evidence of Indian companies bypassing Russian sanctions: US official

The US Deputy Secretary of Treasury Wally Adeyemo on Wednesday said there is "no evidence" of Indian companies circumventing the sanctions imposed following Russia's invasion of Ukraine. "I've seen no evidence of Indian companies circumventing sanctions that have been placed on Russia," Adeyemo told reporters during a visit to IIT-Bombay here. He added that companies around the world, including those in India, the US and Europe, are taking the sanctions seriously and implementing them as well. The remarks come days after reports quoted RBI Deputy Governor Michael Patra saying that the US is concerned over India being used to export fuel made from Russian crude in violation of sanctions imposed by Washington. According to Patra, transfers of Russian crude are taking place on the high seas and the ships come to a port in Gujarat, where the oil is refined and shipped on. Adeyemo also said that the coalition of the sanctions is broadening, with many countries joining. The Treasury ..

In a first, India buys discounted Venezuelan petcoke to replace coal

Indian companies are importing significant volumes of petroleum coke from Venezuela for the first time, trade sources and shipping data show, as the OPEC nation boosts exports

Russia wants payment messaging system to align, but Indian banks wary

If the messaging platforms of India and Russia are connected, it might help in improving the payments settlement mechanism and provide Russia with a cover from further sanctions

China's largest chipmaker warns of rapid freeze as smartphone demand skids

China's largest chipmaker reported revenue rose 42% to $1.9 billion in the second quarter, generally in line with expectations

Crypto mixer Tornado's accounts disabled after US sanctions: Report

Tornado Cash allowed users to obfuscate their crypto transactions; the Treasury alleged that North Korean hackers and other entities had relied on it to launder illicit gains totaling more than $7 bn

Where did all Russian oligarchs' superyachts with sanctioned assets go?

Boats linked to Russian oligarchs not known for their discretion have gone "dark" and sailed to friendlier shores like Dubai or Turkey, keen to escape the fate of over $30 billion sanctioned assets

Putin's rumoured girlfriend, Russian elites hit with US sanctions

A new round of US sanctions targeting Russian elites includes a woman named in news reports as Vladimir Putin's longtime romantic partner.

Ukraine conflict: Putin's rumoured girlfriend hit with latest US sanctions

The Treasury Department said Tuesday that government has frozen the visa of Alina Kabaeva, an Olympic gymnast in her youth and former member of the state Duma, and imposed other property restrictions

Will the rupee settlement plan be a game-changer for India?

India's central bank has announced a mechanism to settle international trade in rupee. This will make trade easier with countries facing US sanctions. Find out about the RBI's decision and its impact

US sanctions should be lifted to ensure investment in Iran: Official

The "oppressive" US sanctions against Iran should be lifted in such a way that all countries can easily invest in Iran while maintaining their long-term interests

Huawei founder asks employee to give ideas how to boost falling sales

Crippled by heavy US sanctions, telecom conglomerate Huawei is seeking ideas from employees on how to build a better future and get revenues back on track, the media reported on Wednesday.

India-Russia trade will continue despite Western sanctions: Envoy

Russia's envoy Denis Alipov underlined the strength of bilateral ties with India, saying the positive dynamics of trade between the two countries will continue despite sanctions against Moscow

US issues sanctions targeting N Korean weapons of mass destruction program

The US imposed sanctions on two Russian banks, a North Korean company and a person it accused of supporting North Korea's weapons of mass destruction program