Xiaomi’s electric vehicle investment is driven by Trump sanctions
Xiaomi CEO says Donald Trump sanctions triggered Chinese Xiaomi’s entry into electric vehicles. The Trump administration’s decision to impose sanctions on China’s Xiaomi Corp (opening a new tab in early 2021) was the catalyst for the company’s decision to produce its first electric car, company CEO Lei Jun said in a statement. Xiaomi, best known […]
US plans ‘draconian’ sanctions against China’s semiconductor industry
US government sanctions against China are not letting up. Long targeted by the US, China’s activity in advanced chip manufacturing tools will continue with more severe restrictions that even some US allies have described as draconian. Proposals include implementing the Foreign Direct Product (FDP) rule, pressuring allies to limit service and repair of equipment in […]
EU extends sanctions on Iran for another year
The European Union has extended existing sanctions against Iran for another year for its alleged support to Russia in the Ukraine war and to resistance groups in the West Asian region. The statement read: “The Council has extended the restrictive measures until July 27, 2025 in view of Iran’s military support to Russia’s aggressive war […]
Canada rejects sanctions appeal by daughters of Russian tycoon with $18 billion fortune
The Canadian government has rejected a request to lift economic sanctions imposed on the daughters of a Russian billionaire and alleged close associate of President Vladimir Putin. Canadian Foreign Affairs Minister Mélanie Joly rejected the appeals of Larisa and Ekaterina Fridman, whose father is banking tycoon Mikhail Fridman. Fridman, who is wanted by the Ukrainian […]
UK wants more sanctions on Russian oil tanker fleet
The UK plans to launch a call for action this week with a group of European countries to increase pressure on shadow fleet vessels. The UK has sanctioned 11 more oil tankers that help Russia export to its customers, some of which are part of the shadow fleet. Eight of these tankers belong to Russia’s […]