U.S. limits Huawei AI chip production
U.S. announces stricter measures on Chinese chipmakers amidst rising technological rivalry. They are limiting Huawei AI chip production to 200.000 units. According to Chosun, The Trump administration has formalized tough measures to curb China’s semiconductor ambitions. Jeffrey Kessler, Vice Minister of the U.S. Department of Commerce, stated during a congressional hearing that, under the export control […]
Korea fines Chinese e-commerce platform Temu over deceptive promotions
Korea’s antitrust watchdog said it has fined Temu for misleading Korean consumers through deceptive promotional campaigns, marking the first regulatory sanction imposed on the Chinese e-commerce platform by the agency. According to Korea Times, The Fair Trade Commission said it has imposed a fine of 357 million won ($260,000) on Temu for violating the law […]
China plans to turn Shenzhen into AI and aviation hub amid US sanctions
Beijing is deepening reforms to accelerate the development of emerging industries in the Chinese tech hub, which faces a barrage of US trade curbs. The plan focuses on boosting Shenzhen’s ability to create scalable business models in industries such as artificial intelligence and aviation that can be replicated across China, by helping the city cultivate […]
EU prepares sanctions on Chinese banks over Russia ties
According to Bloomberg, The European Union leadership is planning to ban European companies from cooperating with two Chinese banks that have been helping Russia circumvent existing trade restrictions. According to draft documents, financial institutions operating within the European Union will be prohibited from conducting any transactions with two regional Chinese banks located near the China-Russia […]
USA sanctions Iran-backed Iraqi group
Sanctions block assets of Iran-backed Iraqi groupp Kata’ib Al-Imam Ali, prohibit US nationals from dealing with them. The US Treasury announced Thursday that it had added Kata’ib Al-Imam Ali, an Iran-backed group in neighboring Iraq, onto its sanctions list. The department’s Office of Foreign Assets Control’s Specially Designated Nationals and Blocked Persons List was updated […]
‘Narco subs’ trafficking cocaine targeted in latest U.S. sanction
Six accused drug traffickers allegedly using boats and ‘narco subs’ to traffic cocaine were hit with U.S. sanctions, the U.S. Department of the Treasury’s Office of Foreign Assets Control said. Four Guyanese nationals — Paul Daby Jr., Randolph Duncan, Mark Cromwell, Himnauth Sawh — and two Colombians — Yeison Andres Sanchez Vallejo and Manuel Salazar […]
Report: Japanese firm imports Russian oil via sanctioned tanker
According to Bloomberg report, which is backed by the vessel tracking data a Japanese oil refinery, Taiyo Oil Co., imported Russian crude aboard a tanker subject to U.S. and EU sanctions. The refinery received 600,000 barrels of Sakhalin Blend crude that had been transported by the tanker Voyager. The ship loaded the oil on May […]
US sanctions Iranian shadow banking network
The United States on sanctioned over 30 people and entities it said were tied to an Iranian shadow banking network used to launder billions of dollars for sanctioned institutions affiliated with the Islamic Republic. The network —run by Iranian brothers Mansour, Nasser and Fazlolah Zarringhalam— relied on front companies in Hong Kong and the United […]
US Sanctions 4 ICC members
US Secretary of State Marco Rubio announced sanctions on ICC members, in Response to the ICC’s illegitimate actions targeting the United States and Israel. Marco Rubio said that, “I am designating Solomy Balungi Bossa of Uganda, Luz del Carmen Ibáñez Carranza of Peru, Reine Adelaide Sophie Alapini Gansou of Benin, and Beti Hohler of Slovenia […]
UK considering sanctions on Ben-Gvir, Smotrich amid Gaza war
According to The New York Times, British officials are reportedly waiting to assess whether Israel allows enough humanitarian assistance into Gaza before taking further steps in imposing the sanctions. The United Kingdom is considering imposing sanctions on National Security Minister Itamar Ben-Gvir and Finance Minister Bezalel Smotrich. Ben-Gvir and Smotrich have both expressed strong support […]