Trump may target Iraq’s oil sector to counter Iranian influence
US President-elect Donald Trump’s planned maximum sanctions against Iran could extend to neighbouring Iraq, targeting OPEC’s second largest crude oil producer and a known hotbed of oil smuggling, according to three sources familiar with the talks. According to S&P Global Commodity Insights, the imposition of secondary sanctions on Baghdad, similar to the US sanctions on […]
US Court Cancels Sanctions on Crypto Mixer Linked to N. Korea Hack
A federal appeals court has ruled that the US Treasury Department exceeded its authority by sanctioning cryptocurrency mixer Tornado Cash after a North Korean hacking group used the software to launder more than $455 million. A three-judge panel of the Court of Appeals sided with six users of crypto-mixing services who argued that the software […]
Joint statement from the G7 on diamond sanctions
Botswana and the G7 have announced plans to increase transparency in the diamond trade. A new certification node will help prevent diamonds of Russian origin from entering G7 markets. The G7 import ban on diamonds of Russian origin began on 1 January 2024. On 1 March 2024, Russian diamonds processed in third countries were also […]
Russia Sells Shares in Angolan Diamond Mines due to sanctions
A government official in Angola announced that Russian stakes in the country’s two major diamond mines have been sold to an Oman-backed fund as a result of international sanctions. Russia’s diamond giant Alrosa was until now co-owner of Angola’s Catcoa mine, the world’s fourth largest, and Luele mine in partnership with the South African country’s […]
US sanctions 21 senior Venezuelan officials over election pressure
In the US, the Joe Biden administration has sanctioned 21 Venezuelan officials for their role in the suppression of protests following the disputed presidential election in July. According to a senior representative of the administration, this group, which targeted innocent civilians for repression and retaliation, includes 15 leaders from the Bolivarian national guard, national police, […]