Tag: Region Europe

May 9, 2022. The future of Commerzbank’s business in Russia will depend, among other things, on Russia’s behavior and further sanctions, according to Handelsblatt report. Germany’s Commerzbank is preparing for more businesses to fail in Europe’s biggest economy amid high inflation and economic perils exacerbated by Russia’s war in Ukraine. The lender expects provisions for loan losses to rise as…

May 9, 2022. Brussels has shelved its plans to ban the EU shipping industry from carrying Russian crude as it struggles to push through its latest sanctions package because of anxiety among some member states about the economic impact of the measures. A proposal targeting shipping that was introduced last week has been dropped by the European Commission following hard…

May 7, 2022. A new leak of Dubai property data has exposed just how many foreigners have poured their money into apartments and villas there. The data, which dates from 2020, was obtained by the Center for Advanced Defense Studies (C4ADS), a non-profit organization based in Washington, D.C., that researches international crime and conflict. It was then shared with Norwegian…

Germany’s federal police office, criminal prosecutors and the country’s financial watchdog BaFin raided Deutsche Bank’s headquarters in Frankfurt on Friday, prosecutors said in a statement. The prosecutors said that a search warrant was issued by Frankfurt’s district court, based on the suspicion that unnamed Deutsche Bank employees may have violated anti-money laundering laws. They declined to give further details. Deutsche…

Vladimir Putin announced last month that if “unfriendly countries” wanted to continue buying Russian natural gas, they would have to pay in rubles starting April 1. It seems not everyone believed he was serious. Would Russia really turn away profit by refusing payment in other currencies? Apparently so. Many media outlets are calling the move a ‘weaponization’ of the gas…

The Pentagon says the U.S. is monitoring events in the Eastern European country of Moldova after the breakaway republic of Transnistria bordering Ukraine said explosions over the past two days hit a radio center and a security headquarters. The reports of explosions prompted Moldova’s president to convene a meeting of the country’s security council as she vowed to prevent an…

You don’t want to call sanctions a hoax because they legitimately put compliance pressure on our businesses and people. But do they put any pressure on the actual targets? It’s part of our news cycle and even our language to think so. After all, what is a “sanction” if not a punishment for breaking the rules? In a move that…

  On 29 March 2022, Australia’s Minister for Foreign Affairs (the Minister) designated 39 individuals, including a number of Russian individuals engaged in serious corruption and human rights abuses, using the new powers set out in the Magnitsky sanctions amendments. Targeted financial sanctions and travel bans will apply to these persons from 30 March 2022.  This is the first time…

History Nuclear weapons owned by the United States have been deployed in Europe since the mid-1950s, when President Dwight D. Eisenhower authorized their storage at allied North Atlantic Treaty Organization (NATO) bases on the continent for use against the Soviet Union. Though NATO officially declares itself a “nuclear alliance,” it does not own any nuclear weapons. Historically, the United States…

The new president of Interpol has been placed under investigation in France over allegations of “torture” and “acts of barbarism”. Ahmed Nasser Al-Raisi has been accused by an NGO of mistreating one of the main opponents of the Emirati regime. France’s anti-terrorism prosecutor’s office (Pnat) has opened a preliminary investigation, AFP sources reported on Friday. Al-Raisi was only appointed Interpol’s…

As reported by Times of Israel and X, Ukranian President Zelensky said that “Uman was brutally bombed where hundreds of thousands of Jews come every year to pray,” referring to the Hasidic pilgrimage site in central Ukraine. “Then Babyn Yar, where hundreds of thousands of Jews were executed.” And despite reports, the rocket that damaged the Kyiv TV tower did not…

Feb 26, 2022. (3:31 a.m. CET) SWIFT Preparing to Comply With Russian Measures  “We are engaging with European authorities to understand the details of the entities that will be subject to the new measures,” the organization said in an email. “We are preparing to comply upon legal instruction.” Feb 26, 2022. (2:12 a.m. CET) Elon Musk Activates Starlink Satellites for…

A number of states and international actors have unveiled further sanctions measures on Russia in relation to its activities in or in relation to Ukraine. In a previous post, we outlined the initial measures imposed by the US and UK on Russia in relation to its recognition of Donetsk and Luhansk. We consider below the further actions taken by the…

The CIA is still carrying out its own bulk surveillance program in the United States despite a legal ban on the agency carrying out domestic operations.

Canadian troops in Latvia will soon be protected by a $227 million Swedish-designed short-range anti-aircraft system, Defence Minister Bill Blair announced Thursday in Brussels as NATO allies met to assess both the war in Ukraine and perceived threatening moves by Russia. The Canadian Army has been without a dedicated air defence to protect ground troops from attack helicopters and fast-moving…

Indonesian Paper and Palm Oil Tycoon Secretly Bought Historic Munich Building for 350 Million Euros.
Tanoto’s companies have been accused of causing widespread deforestation in Indonesia, human rights abuses, and a plethora of questionable profit-shifting practices that have deprived Indonesia of hundreds of millions in tax revenues.
Tanoto’s son, Andre, also bought an iconic building in Düsseldorf for a little under 50 million euros at around the same time, using a similar secret Luxembourg corporate structure.