Alisher Usmanov’s lawsuit against UBS: A billionaire’s fight against the German investigation
Uzbek-born Russian billionaire Alisher Usmanov has launched legal action against UBS, one of the world’s largest banks. In the case in Frankfurt, UBS is accused of triggering a German investigation into Usmanov’s financial activities by submitting reports on Usmanov’s transactions that his lawyers described as “absurd and unfounded”. This case is likely to increase geopolitical […]
Japan sanctions Kazakhstan company over ties with Russia
Japan has imposed sanctions on Kazakhstan’s Elem Group, which it accuses of violating anti-Russian regulations. Elem Group has been on the US and EU sanctions lists since February 2024. With its latest decision, Japan has placed a total of ten companies from China, UAE, India and Uzbekistan on the sanctions list in addition to Elem […]
EU proposes sanctions against Russian shipping giant Sovcomflot, according to Bloomberg
The European Union is proposing to impose sanctions on Russia’s oil shipping giant Sovcomflot PJSC to limit the Kremlin’s ability to finance its war against Ukraine, Bloomberg News reported, citing a document it has reviewed. The move follows similar deterrent measures imposed on leading Russian tanker groups as part of US sanctions against Russia following […]
US government sanctions Kaspersky executives
The US announced that it will impose sanctions on 12 executives of Russia-based cyber security giant Kaspersky. The Treasury Department’s Office of Foreign Assets Control (OFAC) announced that 12 company executives were tasked with protecting internet users against malicious cyber threats. Brian E. Nelson, Under Secretary of the Treasury for Terrorism and Financial Intelligence, said: […]
EU’s 14th sanctions are the first major step against Russian gas
In a critical development, EU ambassadors have agreed for the first time to impose sanctions on Russia’s gas industry, a move that could deprive the Kremlin of hundreds of millions of dollars. “This tough package will further block Russia’s access to key technologies,” says European Commission President Ursula von der Leyen. “It will deprive Russia […]