Reported by Jim Wyss In the tropical paradise of Saint Kitts and Nevis, it isn’t the visitors to its golden shores and pristine beaches who sustain the economy. It’s those buying its navy blue passports. For as little as $100,000,foreigners can secure citizenship in certain Caribbean nations that promise tax breaks and visa-free travel to Europe. In […]
Reported by Bloomberg News Last year, the US sanctioned dozens of companies that produce drilling equipment and develop new production techniques, aiming “to limit Russia’s future extractive capabilities.” The European Union in 2022 imposed “comprehensive exports restriction on equipment, technology and services for the energy industry in Russia.” Two of the world’s largest oil-service providers — Halliburton Co. and Baker Hughes […]
Reported by David Leask America has imposed sanctions on three Scottish shell firms it believes are being used to aid Russia’s war effort. United States authorities formally listed the Edinburgh-registered limited partnerships or SLPs earlier this year. They did so as part of a crackdown on a Swiss financier who they – and the British […]
Reported by Tripti Garg In February 2022, Putin began his special ops in East Ukraine in a bid to make the Donbas region free of Ukranian Neo Nazis. The attack led to immediate pushback from the American led west coalition and they tried the strongest missile in their arsenal – the economic sanctions missile. In […]
Reported by Jordan Mallory & J. Scott Maberry On December 22, 2023, President Biden signed a new Executive Order (E.O. 14114) containing the latest round of sanctions against the Russian Federation. Shortly thereafter, Treasury Secretary Janet Yellen stated that the Office of Foreign Assets Control (OFAC) will take “decisive” and “surgical” action when enforcing sanctions against financial institutions involved […]
Reported by Sareena Dayaram Huawei says its “back on track” after its revenue neared $100 billion for this year, despite continuing US sanctions on the Chinese conglomerate. Sales to surged to more than 700 billion yuan ($98.7 billion) in 2023, the company said on Friday, which represents 9% growth from the $642 billion yuan ($92.4 […]
Reported by Alan Rappeport The United States and Europe have imposed strict sanctions on Russia over the past two years. But an illicit network of traders and smugglers, working with the assistance of shadowy financial firms, has been helping Russia gain access to banned products that it needs to restock its military arsenal. Treasury Secretary Janet L. […]
Reported by Tariq Tahir An accountant alleged to have acted as right-hand man to accused Hezbollah financier Nazem Ahmad has been extradited to the US. Sundar Nagarajan, 56, was arrested in London at the behest of the American authorities this year on suspicion of fraud and money-laundering offences. The Indian citizen was detained by the Met Police’s National Extradition […]
Reported by Sam Jones Austria’s Raiffeisen Bank International has concluded a complex asset swap arrangement with Oleg Deripaska that skirts EU sanctions restrictions to hand the Russian oligarch roubles worth €1.5bn. In a statement on Tuesday, RBI said its Russian subsidiary would make the cash payment to Deripaska in exchange for his 28 per cent […]
Reported by Paul Mozur, Aaron Krolik and Adam Satariano Shortly after Russia invaded Ukraine last year, engineers at Convex, a Russian telecommunications company, needed to find American equipment to transmit data to the country’s feared intelligence service. But no gear was flowing in after Western nations imposed sweeping new trade limits on Russia. Convex’s employees soon found a solution. […]
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