ReportWire

Tag: Risk Topics – Sanctions & Trade Controls

  • Mystery Blasts Rock Russia-Linked Oil Tankers Off Turkey’s Coast

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    Explosions rocked two tankers sanctioned for carrying Russian oil, the latest in a spate of blasts on such vessels, sparking a rescue operation off Turkey’s Black Sea coast.

    The 900-foot Kairos was en route from Egypt to Russia when it suffered a blast and caught fire, according to Turkish authorities. Emergency response vessels managed to evacuate its 25 crew members. Meanwhile, the 820-foot Virat began spewing heavy smoke from its engine room after being hit at a point farther east along the coast. The 20 personnel on board were in good condition, authorities said.

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    Georgi Kantchev

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  • Trump Administration Blocks Gunvor Takeover of Russian Oil Assets

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    Gunvor pulled its offer to buy the international assets of sanctioned Russian oil producer Lukoil after the U.S. Treasury Department said it opposed the deal and called the Swiss commodities trader the “Kremlin’s puppet.”

    The move signals the Trump administration is taking a hard-line approach in its recently launched effort to use economic pressure on Moscow to end the war in Ukraine.

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    Georgi Kantchev

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  • China Is Filling Up Its Oil Reserves Fast

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    China has spent months building up its oil reserves. That might come in handy in the wake of the new sanctions the U.S. recently imposed on Russian crude.

    During the first nine months of the year, the world’s second-largest economy imported on average more than 11 million barrels of oil a day, an amount above the daily production of Saudi Arabia, according to official customs data. Analysts estimate 1 million to 1.2 million of those barrels were stashed in reserves each day.

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    Rebecca Feng

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  • Exclusive | White House to Announce Resumption of Auto Chip Shipments From China

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    The White House is set to announce that the Dutch semiconductor company that paused shipments weeks ago and risked upending global car production will resume sending chips under a framework agreement reached during talks between President Trump and Chinese leader Xi Jinping, people familiar with the plans said. 

    The new policy on the Dutch chips is part of a forthcoming document from the White House laying out the details of the U.S.-China trade deal signed this week, according to the people.

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    Ryan Felton

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  • Argentina Has the World’s Weirdest Tax. Can Milei Scrap it?

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    Argentina’s export tax hurts its critical agricultural industry. President Javier Milei has yet to follow through on a promise to end it.

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    Greg Ip

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  • The Long Road to a U.S.-China Trade Pact

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    In March, Sen. Steve Daines traveled to Beijing with a group of American chief executives in hopes of calming a tense trade relationship between the world’s two largest economies.

    Weeks earlier, President Trump had added an additional 20% in tariffs on China over what he said was its role in the fentanyl trade. The Montana senator and close Trump ally, who lived in China and Hong Kong for six years in the 1990s as an executive for Procter & Gamble, saw an opening to smooth things over.

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    Gavin Bade

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  • What to Know About Trump’s Latest Tariffs

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    President Trump’s tariff policies have taken numerous twists and turns this year.

    He and President Xi Jinping reached a trade agreement that will see the U.S. lowering tariffs on Chinese imports imposed this year to 20%. When added to tariffs imposed on Chinese imports during Trump’s first term, overall U.S. duties on Chinese imports will total around 47%.

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    Chao Deng

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  • U.S. Imposes Sanctions on Colombia’s President Over Drug-Trafficking Accusations

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    WASHINGTON—The Treasury Department has sanctioned Colombian President Gustavo Petro and his family, alleging his government has aided drug traffickers.

    “President Petro has allowed drug cartels to flourish and refused to stop this activity,” Treasury Secretary Scott Bessent said.

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    Alex Leary

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  • Russia’s Central Bank Cuts Key Rate as New Sanctions Loom

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    Russia’s central bank on Friday lowered its key interest rate for a fourth straight meeting as an already slowing economy braces for the impact of fresh sanctions from the U.S. and the European Union in response to President Vladimir Putin’s continued war on Ukraine.

    The Bank of Russia cut its key rate to 16.5% from 17%, having begun to lower borrowing costs from a recent peak of 21% in June. The move was smaller than previous cuts.

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    Paul Hannon

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  • U.S. Imposes Substantial New Sanctions on Russian Oil Giants

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    WASHINGTON—President Trump has announced substantial new sanctions on Russia’s two biggest oil companies as frustration in Washington grows over the war in Ukraine.

    The new sanctions, which would be the first direct U.S. measures on Russia during the second Trump administration, target Lukoil and Rosneft as well as nearly three dozen of their subsidiaries. Oil is one of Russia’s largest sources of revenue.

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    Robbie Gramer

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  • Dutch Government Takes Control of Chip Maker From Chinese Parent

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    The Dutch government wrested control of a Netherlands-based semiconductor company from its Chinese owner, a new flare-up in tensions between China and the West over key technologies and materials.

    Officials at the Dutch Economic Affairs Ministry said Sunday that they had assumed the power to block or reverse decisions at Nexperia 600745 -10.00%decrease; red down pointing triangle, which is owned by China’s Wingtech Technology, to keep Europe from losing “technological knowledge and capabilities” necessary for its economic security.

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    Sam Schechner

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  • International Criminal Court Convicts Sudanese Militia Leader of War Crimes

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    The International Criminal Court found a Sudanese militia leader guilty of committing war crimes and crimes against humanity in Darfur two decades ago, a rare conviction for an institution whose international standing is under threat from U.S. sanctions and sexual assault allegations against its chief prosecutor.

    A panel of three judges at the ICC in The Hague convicted Ali Muhammad Ali Abd-Al-Rahman of being a commander in the Janjaweed, a feared militia of mostly Arab fighters who terrorized civilians across the Darfur region in 2003 and 2004, in a conflict that left hundreds of thousands dead. Abd-Al-Rahman ordered his fighters to brutalize villages in the region where they engaged in mass rape and killings, the judges said Monday. Abd-Al-Rahman exhorted his soldiers with the phrase “wipe out and sweep away” before they attacked, according to the decision.

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    [ad_2] Matthew Dalton
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  • France Detains Russian ‘Shadow Fleet’ Tanker Suspected in Drone Attack

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    PARIS—French authorities detained crew members of a tanker carrying Russian crude oil and are investigating whether it played a role in last week’s drone incursions in Denmark.

    French soldiers boarded the tanker, which is under Western sanctions, as it was en route to India from Russia’s Baltic Sea port of Primorsk. The vessel was traveling south through the Bay of Biscay when it turned east and headed toward Saint-Nazaire, home to Europe’s largest shipyard, according to the ship-tracking service Kpler. Authorities took the tanker’s captain and second-in-command into custody.

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    Matthew Dalton

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  • Exclusive | Why U.S.’s Trade Pact With South Korea Has Gotten Messier

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    President Trump’s trade deal with South Korea is on shaky ground, with Commerce Secretary Howard Lutnick taking a tough line in talks as some Seoul officials privately argue to allies that the White House is moving the goal posts.

    Lutnick, in recent conversations with South Korean officials, has discussed with Seoul the idea of slightly increasing the $350 billion they had previously guaranteed to the U.S. in July and suggested the final tally could get a bit closer to the $550 billion pledged by Japan, according to people familiar with the discussions, including an adviser to South Korea’s government.

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    Brian Schwartz

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