Category: Sanctions News

WASHINGTON – The United States on Friday announced sanctions on more than 300 targets as Group of Seven leaders met in Japan, aiming to punish Russia for its invasion of Ukraine and intensifying one of the harshest sanctions efforts ever implemented. The move, which targets Russia’s sanctions evasion, future energy revenues and military-industrial supply chains, marks the latest sanctions and export controls targeting Moscow, which have already hit thousands of targets and imposed steep curbs on Russia. “Today’s actions will…

LONDON – Britain on Friday published plans to ban imports of Russian diamonds, copper, aluminium and nickel and slap a new wave of sanctions against Russia, targeting companies connected to the alleged theft of Ukrainian grain. Along with the United States, Britain and other Group of Seven (G-7) major economies are set to unveil sanctions and export controls targeting Russia over its war against Ukraine at a summit in Japan this weekend. “We will legislate later this year to ban…

As Cyprus braces for an almost inevitable new wave of sanctions to hit soon, the government conceded on Wednesday the effect on Cyprus’ services sector has been detrimental. The impact goes beyond just the service sectors. Scores of people have lost their jobs, and companies shut down, but more controversially – clients of sanctioned entities have also seen their bank accounts frozen. Spokeswoman for the bar association Georgia Constantinou Panayiotou, told the Cyprus Mail what was happening was in fact…

Russia has frozen the bank accounts of Finland’s diplomatic representations in Moscow and St. Petersburg, disrupting money flow and forcing the Nordic country’s missions to resort to cash payments, the Finnish foreign minister said Wednesday. Pekka Haavisto said Moscow’s move at the end of April breached the Vienna Convention on Diplomatic Relations and Helsinki had delivered a diplomatic note on the matter to Russia. “We’re not alone with the money traffic problem,” Haavisto told reporters during a news conference. “Also,…

  EU member countries are preparing to help their companies to exit Russia, amid a growing risk they will be taxed to fund Russian president Vladimir Putin’s war. Source: This is stated in the proposals for the 11th package of sanctions against the Russian Federation, referenced by EUobserver, as reported by European Pravda Details: The proposals include new special permits for financial transactions and legal services designed to help European companies exit Russia. But under the new proposal, EU countries…

Iran Press TV Tuesday, 16 May 2023 11:13 AM Russia’s oil exports have hit its highest level since the start of the Ukraine war, increasing its revenues by $1.7 billion despite Western sanctions, the International Energy Agency says. In a monthly oil report on Tuesday, the Paris-based organization said Russian crude exports increased by 50,000 barrels per day to 8.3 million bpd in April. That reflects Russia’s success in finding new buyers for its crude since the West imposed sanctions…

WASHINGTON/BERLIN – Leaders of the Group of Seven (G-7) nations plan to tighten sanctions on Russia at their summit in Japan this week, with steps aimed at energy and exports aiding Moscow’s war effort, said officials with direct knowledge of the discussions.

New measures announced by the leaders during the May 19-21 meetings will target sanctions evasion involving third countries, and seek to undermine Russia’s future energy production and curb trade that supports Russia’s military, the people said.

Separately, US officials also expect G-7 members will agree to adjust their approach to sanctions so that, at least for certain categories of goods, all exports are automatically banned unless they are on a list of approved items.

United States to provide $1.2 billion in new military aid to Ukraine, including air defenses and ammunition. Ukrainian President Volodymyr Zelenskyy says it is “only a matter of time before we can restore a sustainable and just peace for our part of Europe, for Ukraine.” Agence France-Presse journalist Arman Soldin was killed by rocket fire in eastern Ukraine where journalists were with a group of Ukrainian soldiers. The U.S. said Wednesday that for the first time it has sent an…

Brief #1: How The EU Plans To Crack Down On Sanctions Circumvention What You Need To Know: One of the most frequently asked questions in Brussels right now when it comes to its ever-growing sanctions on Russia is whether they are efficient. The 10 rounds of restrictive measures imposed on the Kremlin since its full-scale invasion of Ukraine in February 2022 evidently hasn’t changed Moscow’s willingness to continue the war. In fact, the Russian economy contracted by just 2 percent…

The Biden administration on Thursday imposed sanctions on the Federal Security Service, Russia’s intelligence agency, for its role in detaining Americans like Evan Gershkovich, The Wall Street Journal reporter who has been accused of espionage.

The administration also announced sanctions on Iran’s intelligence services and four senior Iranian officials, who the administration says have participated in a pattern of holding Americans and other nationals hostage.

The U.S. is imposing sanctions on groups in Russia and Iran associated with the wrongful detainment of its citizens, CNN reported on April 27. Former U.S. Marine Paul Whelan and Wall Street Journal reporter Evan Gershkovich are currently being held in Russia on trumped-up espionage charges. Russian Foreign Minister Sergei Lavrov attempted to justify Russia detaining the two U.S. citizens while speaking to journalists at the United Nations on April 25, claiming they were detained “when committing a crime.” People familiar with the matter told Bloomberg in mid-April that Russian dictator Vladimir Putin “personally approved” Gershkovich’s arrest on espionage charges. In Iran, Siamak Namazi, Emad Sharghi and Morad Tahbaz are all being held in a prison where where there have been reports of torture, CNN wrote. According to CNN, the sanctions imposed by the U.S. would target Russia’s Federal Security Service and the Intelligence Organization of Iran’s Islamic Revolutionary Guard Corps. Four individuals in Iran would also be targeted by the sanctions. “We are showing that one cannot engage in this sort of awful behavior using human beings as pawns, as bargaining chips, without paying consequences and these are some of the consequences,” a senior U.S. administration official said, as quoted by CNN. However, as CNN pointed out, “questions remain about the real impact of these sanctions because many of the entities hit on Thursday were already sanctioned under different authorities by the U.S.”

The US Supreme Court rejected Wednesday the claim of sovereign immunity by a Turkish bank accused of violating Iran sanctions, in a case that has added tensions to ties between Washington and Ankara.

Halkbank was hit with US criminal charges in 2019 that it took part in a yearlong scheme to launder billions of dollars worth of Iranian oil and natural gas proceeds, violating sanctions on Iran.

The funds were used to buy gold and the transactions were disguised as food and medicine purchases in order to fall under a humanitarian exemption to the sanctions, according to court documents.

As part of the scheme, Halkbank allegedly used front companies to funnel $20 billion to Iran, including $1 billion through the US financial system, the US Justice Department said.

The United States charged the bank with six counts of fraud, money laundering, and sanctions offenses, calling it one of the most serious sanctions-breaking cases it has seen.

  LONDON (AP) — A diamond and art dealer was sanctioned Tuesday by the U.K. and U.S. governments for allegedly funding Lebanon’s militant Hezbollah group. The U.K. Treasury said it froze Nazem Ahmad’s assets in the U.K. because he financed the Iranian-backed Shiite militant organization that has been designated an international terrorist group. Under the sanctions, no one in the U.K. or U.S. will be able to do business with Ahmad or his businesses. “The firm action we have taken…

Some of Turkey’s largest airport ground handler firms stopped providing services to western-made aircraft owned by Russian airlines earlier this month, multiple sources told Middle East Eye.  The sources, who are within the aviation industry and are familiar with the issue, said Havas, Turkey’s largest ground service provider, as well as Turkish Ground Services (TGS), stopped serving the US-made Boeing and European Airbus aircraft used by Russian companies. Havas sent a letter in January to warn Russian firms that it may need to take action in…

The US on Wednesday slapped sanctions on several entities based in Turkey and the United Arab Emirates which it said had violated US export controls and helped Russia’s war effort in Ukraine. The firms were included in a new list of sanctions rolled out by the US Treasury Department against more than 120 targets across over 20 countries and jurisdictions. Those sanctioned include a Cypriot “fixer” for a Russian oligarch, a Russian-controlled bank in Hungary and entities associated with Russia’s…

Russian airline Aeroflot [Russian Airlines] has sent its aircraft to Iran for repairs for the first time in its history amid Western sanctions.

Source: Kremlin-aligned news outlet RBC, citing two sources close to the airline

“An Airbus A330-300 wide-body airliner with registration number RA-73700 flew to Tehran on 5 April, where the aircraft will be serviced by technicians from Mahan Air, i.e., Iran’s largest airline,” the statement said.