sanctions

An Economic World War III President Biden deserves credit for having so far avoided World War III. He has resisted calls to impose a no-fly zone over Ukraine, which would lead to war with Russia, and he has clearly signaled he has no intention of fighting Russia.  But Biden has, in...

With the Russian ruble sinking to fresh lows and global companies exiting the market, forecasts of a looming collapse of the $1.7 trillion Russian economy have grown since the Kremlin launched its military attacks on Ukraine less than two weeks ago. The Russian currency fell by more than...

Coinbase Global Inc. (NASDAQ: COIN) on Monday said that the public nature of cryptocurrencies makes them a much better tool for preventing evasion of sanctions than traditional fiat currency. What Happened: Coinbase Chief Legal Officer Paul Grewal, in a blog post, said that...

Russia's invasion of Ukraine and resulting sanctions on Russia are putting pressure on several sectors including commodities. Two precious metals that could be affected by the global crisis are palladium and platinum. What Happened: The U.S. and other countries are imposing sanctions on Russia...

The Treasury Department's Office of Foreign Assets Control (OFAC) on Wednesday announced that a Geneva, Switzerland-based airlines systems company will pay a $7,829,640 fine for violating U.S. sanctions. Between April 2013 and February 2018, Société Internationale de Télécommunications...

Democratic Senate Leader Charles Schumer, along with Sens. Sharrod Brown and Robert Menendez, urged the White House to proceed with imposing sanctions against Russian government agencies and officials, and even President Vladimir Putin himself, based on recent U.S. intelligence reports that Russia...

The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has placed financial sanctions on Venezuelan state-owned airline Consorcio Venezolano de Industrias Aeronauticas y Servicios Aereos, S.A. (CONVIASA) for its support of the country's president, Nicolas Maduro.  The agency added...

The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) on Thursday said it is preparing to implement a presidential executive order that will set the stage for trade sanctions on Mali. The West African country in recent years has become a flashpoint of terrorist activity on the...

The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) announced Friday it has lifted economic sanctions against COSCO Shipping's oil tanker operations. The department did not explain the reasons for lifting the sanctions. OFAC imposed sanctions against the Chinese tanker operation...

The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has announced sanctions against Moscow-based Grand Service Express for operating a passenger rail service between the Russian mainland and Crimean Peninsula. The agency said on Wednesday it added the Russian railroad, as well...

Stamford, Connecticut.-based Eagle Shipping International (USA) has agreed to pay a $1,125,000 civil penalty to the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) to settle 36 violations of the Burma Sanctions Regulations. The alleged violations by the subsidiary of Eagle Bulk...

The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) will impose new economic sanctions against 17 Iranian metal producers and mining companies in the aftermath of a recent missile attack against American military forces in Iraq. The sanctions also target a network of three China...

A bipartisan group of U.S. House and Senate lawmakers, which comprise the 17-member Congressional-Executive Commission on China, call for the use of economic sanctions against Chinese nationals and companies that are linked to human rights abuses in China. The commission's report, which was...

In a televised address to the nation on Wednesday, President Trump said the U.S. will pursue additional economic sanctions against Iran in the aftermath of missile attacks by the Middle East country against two American military installations in neighboring Iraq. "As long as I'm president of the...

President Trump is threatening severe sanctions against Iraq if the country succeeds in ordering the removal of U.S. troops from the Middle East country. The Iraqi parliament over the weekend passed a resolution calling for U.S. and other coalition forces to leave the country in response to the...