Syria Ships First Oil Cargo in Years After Trump Ended Sanctions
Syria exported 600,000 barrels of heavy crude in its first oil shipment in years, as the lifting of western sanctions brings relief to its war-ravaged economy. According to Bloomberg, Tanker Nissos Christiana transported the fuel from the Mediterranean port of Tartus, the Syrian Company for Oil Transport’s general manager told state news agency Sana. The […]
Bessent warns ‘all options are on the table’ for Russia sanctions
Treasury Secretary Scott Bessent told that “all options are on the table” as the Trump administration weighs sanctions on Russia after President Vladimir Putin continued to bombard Ukraine despite recent talks about peace. Bessent spoke with Senior National Correspondent Rich Edson at Martin’s Tavern in Washington, D.C., responding to a question about potential sanctions on […]
Hungary sanctions Ukrainian drone commander for bombing oil pipeline in Russia
Hungary has imposed a travel ban on the commander of Ukraine’s Unmanned Systems Forces after three consecutive attacks on the Druzhba oil pipeline on Russian territory. The attacks halted oil imports to Hungary and to Slovakia for days. The sanction was announced by Hungarian Foreign Minister Péter Szijjártó, who said the country considered the pipeline […]
Belgium to recognize Palestine, sanction Israel
According to Politico, Foreign Minister Maxime Prévot said the recognition would happen only after Hamas releases all Israeli hostages and no longer manages Palestine. Belgium will join the group of countries that will recognize the state of Palestine at this month’s U.N. General Assembly and will impose sanctions on Israel over the war in Gaza, […]
Europe’s sanction move on Iran is a serious threat to tanker markets
The United Kingdom, France, and Germany have initiated a 30-day process to re-implement United Nations sanctions against Iran. This action, includes restrictions on oil exports, financial transactions, and maritime transport. These sanctions were originally suspended under the 2015 nuclear deal, and their re-implementation is a response to Iran’s increased uranium enrichment activities. This move is […]