Reported by: Laura Noonan Clouds are gathering over swaths of fintech companies, as falling economic growth, rising interest rates and a cost of living crisis put their business models under strain, forcing job cuts and valuation-crushing funding rounds. ComplyAdvantage founder Charlie Delingpole knows his company is not immune to those forces, as fintechs are among […]
Reported by: MATTHEW KARNITSCHNIG Iran is preparing to hand the Kremlin the blueprints for its most effective weapon against the West: the underground financial network it relies on to evade sanctions. While American sanctions have taken a toll on Iran’s economic output, Tehran’s shadow financial network has ensured the economy continues to fire, if not […]
Reported by: Joe Wallace Sanctions on Russia will redraw global oil flows over the next three months. Confusion over how the measures will work is making it hard for the energy industry to prepare. Ukraine’s allies are gearing up to hit Russian oil with the toughest restrictions to date starting in early December, an attempt […]
Reported by: Alexander Marrow and Supantha Mukherjee SAP (SAPG.DE) will miss its deadline to exit Russia before the end of the year as the German software group has failed to find a buyer for the unit, five sources told Reuters, underscoring the difficulties some companies are facing to leave the country. The Walldorf, Germany-based enterprise software company […]
Reported by: JOSHUA GOODMAN and the Associated Press It was a deal that brought together oligarchs from some of America’s top adversaries. “The key is the cash,” the oil broker wrote in a text message, offering a deep discount on Venezuelan crude shipments to an associate who claimed to be fronting for the owner of […]
Press release by: Department of Justice, U.S. Attorney’s Office, Eastern District of New York A 12-count indictment was unsealed today in federal court in Brooklyn, New York charging five Russian nationals, Yury Orekhov, Artem Uss, Svetlana Kuzurgasheva, also known as “Lana Neumann,” Timofey Telegin and Sergey Tulyakov with various charges related to a global procurement, […]
Reported by: James Politi The US and UK have agreed to bolster their co-operation in implementing and enforcing financial sanctions as they try to make it harder for Russia and other countries to elude economic punishment imposed by the west. In a joint announcement due to be published on Monday and obtained by the Financial […]
Reported by: Nancy J. Allen Bittrex, a cryptocurrency exchange, agreed to pay just under $30 million in fines and keep a closer eye on its compliance program as part of a settlement with the United States Treasury Department over allegations that it had accidentally violated federal sanctions. The settlements were made public on Tuesday by the […]
Reported by: Brian McGleenon Russians are selling rubles (RUBUSD=X) for crypto in an effort to evade sanctions and settle cross-border payments, a money laundering expert has claimed. Due to the sanctions that prohibit Russian businesses from making international settlements in US dollars, companies and individuals are now turning to crypto as an alternative. Cryptocurrency activity in both […]
Reported by: WILL KNIGHT LAST MONTH, THE Chinese ecommerce giant Alibaba revealed a powerful new cloud computing system designed for artificial intelligence projects. It is used by Alibaba’s cloud customers to train algorithms for tasks like chatbot dialogue and video analysis, and was built using hundreds of chips from US companies Intel and Nvidia. Last week, the US announced new export […]
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