Economy
In a significant enforcement of international sanctions, Lithuania's customs authority has imposed a hefty fine of €329,944 on a local company found to be trading with Russian enterprises that are under international sanctions. This landmark case marks the first time such a penalty has been applied, signaling
Economy
On Wednesday, ambassadors from the 27 European Union member states will deliberate on the proposed 14th sanctions package against Russia. According to a report by Politico and published by European Truth, this package centers on curbing Moscow's revenues from its liquefied natural gas (LNG) exports. The European Commission
Economy
The European Commission has circulated a draft proposal to EU member states for the 14th package of sanctions against Russia, which, among other measures, includes restrictions on the import of liquefied natural gas (LNG) from Russia, although a full embargo is not proposed. This latest sanctions initiative follows the EU&
Economy
Russian company Sovcomflot has renamed several of its oil tankers after they were targeted by United States sanctions. This move was reported by Bloomberg, highlighting a common practice among sanctioned entities to avoid detection and maintain operational capabilities. According to the report, at least four tankers have not only changed
Economy
In a move reflecting ongoing concerns over international business operations in Russia amidst geopolitical tensions, a group of European Parliament members has penned an open letter urging Austrian authorities to intervene with Raiffeisen Bank International's plans to expand its workforce in Russia. This plea highlights the contrast between
Economy
In a move poised to escalate tensions between longstanding allies, the United States is reportedly on the verge of announcing sanctions against a specific unit of the Israel Defense Forces (IDF) this Monday. This decision, which has elicited sharp criticism from Israeli leaders, marks the first instance in which the
Economy
In a significant development during a summit held in Brussels, leaders of the European Union have decided to implement new sanctions against Iran. This decision comes in the aftermath of a recent attack on Israel, marking a pivotal moment in EU foreign policy. According to "The Times of Israel,
Economy
PepsiCo, the American multinational food, snack, and beverage corporation, is facing a complex situation as it restructures its business operations in Ukraine while maintaining its presence in Russia. This strategic move, concentrating its business activities in Ukraine through one of its subsidiaries, is drawing significant attention due to the broader
Economy
On April 10, 2024, a significant decision by the European Union Court found in favor of Russian oligarchs Petr Aven and Mikhail Fridman, leading to the annulment of the sanctions imposed against these billionaires during 2022-2023. This ruling has sparked a wide range of reactions and opened up discussions about
Economy
After the full-scale invasion of Ukraine by Russia, elite automotive brands publicly and officially exited the Russian market. It seemed that the billion-dollar market was devastated, and members of the so-called Russian elite were doomed to make do with the remnants of luxury. However, this has proven not to be
Economy
The United States has escalated its financial defensive measures by imposing restrictions on cryptocurrency operators, which have been exploited by Russia to circumvent the sanctions levied in response to its ongoing military actions against Ukraine. The Treasury's Office of Foreign Assets Control (OFAC) has announced sanctions targeting a
Economy
The European Union has prepared a set of proposals that will enable Ukraine to begin receiving income from frozen Russian assets as early as July, according to Bloomberg. These proposals are based on taxing the profits from these frozen reserves, aiming to allocate approximately 3 billion euros annually to finance