Russia allows TotalEnergies to exit sanctioned LNG project
Russian President Vladimir Putin has authorized French energy major TotalEnergies to sell its 10% direct stake in the Arctic LNG 2 project to Russian company Nordline. This marks one of the most high-profile Western exits from Russia’s gas sector since the invasion of Ukraine. Unlike competitors like Shell or BP, TotalEnergies maintained its Russian LNG […]
PwC Hong Kong partners to miss payouts after Evergrande-linked sanction
PwC is canceling planned payouts for its Hong Kong partners in order to retain capital for company operations after facing massive financial penalties over its flawed audits of the property developer China Evergrande. Partners will miss out on their remaining shares from the $2.2 billion sale of PwC’s global mobility business in 2022. Originally promised […]
Persian Gulf Strait Authority says US sanctions will not secure control of Hormuz
Iran’s Persian Gulf Strait Authority dismissed recent US sanctions, stating that the measures will not allow Washington to gain control over the strategic Strait of Hormuz. The Authority condemned the US sanctions, framing them as proof of its own operational success. Despite the US measures, the agency stated it continues to process requests and issue […]
US Sanctions on Iranian Cryptocurrency Exchanges
The US has added four digital asset exchanges to its sanctions list, including Iran’s largest cryptocurrency exchange, Nobitex. In a statement from the US Department of the Treasury, it was reported that the Office of Foreign Assets Control (OFAC) has issued new sanctions against Iran under the “Economic Fury” campaign. The statement noted that Nobitex […]
Chinese firms that help Russia are next for EU sanctions
The EU is preparing to sanction four Chinese companies accused of supporting Russia’s war in Ukraine. These firms allegedly provide components for attack drones, chemicals for the military, and assistance to Russia’s “shadow fleet.” According to Politico, in addition to the Chinese firms, the sanctions proposal targets five companies in the UAE, three in Turkey, […]