Economy
In the wake of the large-scale invasion of Ukraine by Russia, international luxury brands that initially paused their operations in the Russian Federation have begun a widespread closure of their stores. This development is highlighted by the Russian publication "Kommersant," which reported the closure of three Moscow boutiques
Economy
Georgia's ruling political faction, "Georgian Dream," has formally requested the United States Embassy to revoke sanctions imposed on several Georgian judges. This appeal was made public by Mamuka Mdinaradze, the leader of the party's parliamentary majority and executive secretary, according to a report by
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
In a significant move to curb the illicit funding of North Korea's weapons program, the United States announced on Wednesday the imposition of sanctions against six individuals and two companies based in Russia, China, and the United Arab Emirates. This decisive action underscores the U.S. commitment to
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
On March 25, the U.S. Department of the Treasury announced a significant expansion of its sanctions regime, targeting a mix of thirteen corporate entities and two individuals from Russia. This move underscores the U.S.'s increasing focus on curtailing financial and technological support structures that bolster the
Economy
In an era where geopolitical tensions define global narratives, the resilience of nations under economic sanctions has become a subject of intense scrutiny and debate. Among these narratives, Russia's ability to sustain its war efforts despite facing over 16,000 strategic sanctions from some of the world'
Economy
In a significant shift in energy procurement strategy, all Indian oil refineries have now unanimously declined to accept Russian oil transported by Sovcomflot (PAO) tankers, a direct consequence of the sanctions imposed by the United States. This development, as reported by Bloomberg, marks a pivotal moment in international trade and
Economy
During the recent EU summit held on Thursday in Brussels, European Union leaders unanimously called for the European Commission to prepare additional sanctions against Belarus, North Korea, and Iran. This move comes as a response to these countries' support of Russia's aggressive war against Ukraine, highlighting the
Economy
In a significant policy shift, the Ukrainian government has decided to discontinue the "International Sponsors of War" list previously hosted on the website of the National Agency for the Prevention of Corruption (NAPC), following feedback from international partners. This move, announced by the Cabinet of Ministers' press
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
Economy
In a firm rebuttal to the accusations laid out by Hindenburg Research, LPP Group, the Polish clothing manufacturer behind renowned brands such as Reserved, Cropp, Sinsay, House, and Mohito, has vehemently denied claims of continuing operations in Russia. The company's statement comes amid allegations suggesting that LPP'