US Sanctions Busters Spy on Russian UBS Clients
With the takeover of Credit Suisse, UBS also acquired some clients who did not meet its risk or reputation standards. Now, the US authority responsible for sanctions is reportedly asking the major Swiss bank about its Russian clients. OFAC is said to have contacted UBS and asked questions about Russian clients. This is said to […]
US to Sanction One of Russia’s Largest Banks
Gazprombank, the last of Russia’s major state-owned banks, which maintains access to SWIFT and settlements in major world currencies, will be subject to new US sanctions. US President Joe Biden’s administration is considering the possibility of designating Gazprombank (GPB), Russia’s third largest bank by assets, which serves as a centre for gas deals with Europe. […]
US Treasury puts 13 Russian firms on radar for using crypto to evade sanctions
13 financial firms are accused of facilitating trading on the Russian market. They are therefore under scrutiny by the US Treasury Department. The US Treasury Department has imposed sanctions on these 13 business entities and 2 individuals. According to a press release from the Treasury Department’s Office of Foreign Assets Control, the majority of the […]
UK government sanctions successor to Wagner Group
The UK government has announced sanctions against three mercenary groups linked to Russia, including Wagner’s successor organisation Africa Corps. ‘These sanctions will address Russia’s malign activities in Libya, Mali and the CAR (Central African Republic) and will expose and counter Russia’s illegal activities in Africa,’ the statement said. Russian mercenaries from the Wagner group or […]
Russia’s fines against Google exceeded 20 decillion dollars
The amount of fines imposed by Russian courts on Google for removing channels belonging to Russian organisations and individuals on YouTube has exceeded 20 decillion dollars. Speaking to the Russian news agency TASS, legal expert Ivan Morozov said that administrative fines were imposed on Google in the country for removing some channels on YouTube. Pointing […]
New sanctions against Belarus from the USA, Canada and the UK
The US Treasury Department has announced sanctions against individuals and entities in Belarus that support Russia’s war in Ukraine through military funding and production of goods. The sanctions, imposed on a total of 19 individuals, 14 entities and one aircraft, reportedly target individuals who circumvented sanctions on behalf of Belarusian defence organisations and provided income […]
Russia does not expect sanctions to be lifted quickly after Trump’s victory, union leader says
The head of the Russian Union of Industrialists and Entrepreneurs says that Russian entrepreneurs are cautious in relations with the West, hoping for the best but preparing for the worst. The president of the association, Aleksandr Shohin, says that although sanctions against Russia are being imposed quickly, they will be lifted gradually. According to him, […]
Sanction against F1 driver Nikita Mazepin canceled
The EU Court has ruled that sanctions against Nikita Mazepin, whose contract with Formula 1 team Haas was terminated following Russia’s invasion of Ukraine, were unjustified. The judges said the economic freeze imposed on the driver in response to the invasion of Ukraine was not justified simply because he is the son of Russian oligarch […]
Largest Western bank under pressure to cancel investment in Russia
The US is pressuring Raiffeisen Bank, the largest Western bank in Russia, to cancel a $1.6 billion industrial investment. According to Reuters, the bank has chosen an interesting exit strategy from Russia. In its plan to repatriate its remaining $1.6 billion assets in Russia, it planned to buy shares in the Austrian construction company Strabag, […]