South Korea Plans Sanctions Against BitMEX, KuCoin and CoinW
South Korea plans to sanction unregistered crypto exchanges such as BitMEX, KuCoin and others for operating illegally without VASP licences. The Financial Intelligence Unit (FIU) has identified a number of exchanges that have not registered as Virtual Asset Service Providers (VASPs), a requirement under South Korean law. The exchanges facing potential sanctions include BitMEX, KuCoin, […]
China sanctions US defence companies
The Chinese Ministry of Commerce has placed two American companies on the sanctions list for arms sales to Taiwan. The companies included in the list were Lockheed Martin and Raytheon Technologies working with the US Department of Defence. In line with the sanctions decision, both companies and their subsidiaries Raytheon Missile and Defence Corporation will […]
US targets Iranian oil network
The US announced that it has placed some companies that purchase, process and transport Iranian oil on the sanctions list. According to the US Treasury Department, a China-based ‘teapot’ oil refinery that buys and processes hundreds of billions of dollars worth of crude oil from Iran and its top executive have been added to the […]
Britain removes Turkish company from sanctions list
Active Shipping has been removed from UK’s sanctions list for 1 year as part of the sanctions imposed on Russia. The UK Treasury said that the company was being removed from the list and was no longer subject to an asset freeze. Following the presidential decree that revealed US could initiate sanctions against financial institutions […]
EU will sanction 9 individuals in Congo
European Union is expected to sanction nine individuals in connection with violence in the Democratic Republic of Congo. The sources close to the list did not identify those who would be listed because of the practice of not disclosing such details before sanctions are formally approved. EU foreign ministers are expected to approve the sanctions. […]
EU to remove 4 Russian nationals from sanctions list
Hungary lifted its objection to the EU’s renewal of sanctions on Russian individuals and entities after several names were taken off the list. After a week of haggling, EU ambassadors reached a compromise over the six-month extension of the EU’s individual sanctions framework after Budapest removed its blockage. Hungary had initially sought to remove eight […]
Iranian Petroleum Minister is in sanctioned people list
The US Treasury Secretary, in announcing sanctions on Iran, said that Iran continues to use revenues from its vast oil resources to ‘advance its narrow and alarming interests’. The US Treasury Department on Thursday announced that it sanctioned the Iranian petroleum minister: “The Department of the Treasury’s Office of Foreign Assets Control is designating Iran’s […]
US sanctions Foxtrot Network
The United States announced they are sanctioning the Foxtrot Network, a transnational criminal organization, and its fugitive leader, Rawa Majid. The Foxtrot Network is a notorious criminal gang based in Sweden and a prominent drug trafficking organization in the region. The group is involved in arms trafficking and contributes to rising violence in Northern Europe, […]
Switzerland lifts some sanctions against Syria
Switzerland lifted the measures against the Syrian energy and transportation sectors, as announced by the Federal Council. Certain financial services and banking relationships are also permitted again. The suspension of sanctions is intended to support a peaceful and orderly political transition process in Syria. The remaining provisions of the Ordinance on Measures against Syria, including […]
Trump threatens to impose ‘large scale’ sanctions on Russia until a peace agreement with Ukraine is reached
After weeks of distancing the U.S. from Ukraine, President Donald Trump threatened to impose expanded ‘large scale’ sanctions and tariffs on Russia until it reaches a peace agreement with Ukraine. Trump’s statement in Truth Social is as follows: “Based on the fact that Russia is absolutely ‘pounding’ Ukraine on the battlefield right now, I am […]