Canada Hits Cryptomus with C$177 Million Fine For Sanction Evasion and Money Laundering
Cryptomus, a cryptocurrency exchange based in British Columbia, has been fined a record C$176.96 million (USD 126.2 million) by Canada’s Financial Transactions and Reports Analysis Center (FINTRAC). This penalty marks the largest fine ever issued by FINTRAC and is a direct result of the exchange’s failure to comply with anti-money laundering (AML) and sanctions regulations. […]
EU sanctions state-linked Chinese oil companies over Russia war support
The European Union has sanctioned two mainland Chinese oil refineries and one Hong Kong-based oil trader as part of its latest efforts to hobble Russia’s war economy, drawing a stern rebuke from Beijing. The companies were listed in a broader package of sanctions agreed by the EU’s 27 member states on Thursday morning, punishing in […]
EU adopts new sanctions against Russia
The new package of sanctions substantially increases the pressure on the Russian war economy, targeting key sectors such as energy, finance, the military industrial base, special economic zones, as well as enablers and profiteers of its war of aggression. According to EU, a total ban on Russian Liquefied Natural Gas (LNG) and a further clamp-down […]
US Hits Firms Moving Iranian Oil and Major China Crude Terminal
According to Bloomberg, The US sanctioned more than 50 individuals, firms and vessels involved in exporting Iranian oil and liquefied petroleum gas, including a key crude-import terminal. The latest designations by the Treasury Department mark the latest effort by Washington to target the Beijing-Tehran energy trade. The agency’s Office of Foreign Assets Control said the […]
EU Imposes ‘Competition’ Sanction on Gucci, Chloé, and Loewe: Total Fine is €294 Million
The European Union has fined Gucci, Chloé, and Loewe a total of €157 million for obstructing competition. The brands are accused of interfering with the price policies of retailers, and regulatory pressures in the sector are increasing. The European Union’s competition authority has fined the brands Gucci, Chloé, and Loewe a total of €157 million […]
China targets five U.S. subsidiaries of South Korea’s Hanwha Ocean
China sacntioned five of South Korean shipbuilder Hanwha Ocean’s U.S. subsidiaries. This step is escalating tensions with Washington over their alleged involvement in a probe into the Chinese shipping industry. The sanctioned subsidiaries are Hanwha Shipping LLC, Hanwha Philly Shipyard Inc., Hanwha Ocean USA International LLC, Hanwha Shipping Holdings LLC and HS USA Holdings Corp., […]
UK targets Russian oil market in fresh sanctions
Britain is targeting Russia’s largest oil companies and the country’s “shadow fleet” of oil tankers in a bid to cut off Vladimir Putin’s ability to fund the war in Ukraine. The UK government is also pursuing a major Indian oil refinery and four Chinese oil terminals in a package of 90 new sanctions. The Russian […]
US, UK sanction huge Southeast Asian crypto scam network
According to Al Jazeera, the crackdown targets a number of entities and individuals linked to the Prince Group network that used hundreds of thousands of trafficked workers for defrauding people around the world. The United States and United Kingdom have announced sweeping sanctions against a Southeast Asia-based multinational crime network for running a chain of […]
U.S. sanctions 29 companies in China, Turkey, and UAE over Iran military support
The U.S. government announced a major expansion of its sanctions, adding 29 entries (26 entities and three addresses) to the Commerce Department’s Bureau of Industry and Security (BIS)’s restricted entity list. The sanctions target companies in China (15 firms), Turkey, and the UAE, which the U.S. accuses of providing illicit support to Iran’s military and […]
EU Eyes Sanctions on Russian Ruble-Backed Stablecoin A7A5
The move would prohibit EU-based individuals and companies from interacting with the token, either directly or via intermediaries. The European Union is weighing a fresh round of sanctions targeting A7A5, a ruble-backed stablecoin that has rapidly become the largest non-US-dollar pegged token in the world. The move would prohibit EU-based individuals and companies from interacting […]