The EU is seeking to include restrictions against Chinese and Indian companies in a 13th sanctions package against Russia over the Ukraine conflict, to be unveiled later this month, the Financial Times has reported. Two dozen firms, including three from China and one from India, could face trade penalties from …
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Efforts by Ukraine and its Western backers to convince, shame, and sanction companies into leaving the Russian market have backfired, placing lucrative enterprises in Russian hands at discount prices and pumping more than a billion dollars worth of exit taxes into Moscow’s coffers, the New York Times reported on Monday. …
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Chinese and Emirati companies, along with a network of Iranian petrochemical producers, have been hit by secondary US penalties for helping Tehran to “evade sanctions” by supporting the sale of its petrochemical products in international markets. The sanctions were introduced against two companies based in Hong Kong, three in Iran, …
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US officials are “quietly” urging agricultural firms to boost Russian fertilizer imports amid growing shortages and a looming international food crisis, Bloomberg news agency reported on Monday, citing unnamed sources familiar with the discussions. Companies fearful of US sanctions have apparently all but ceased purchases, despite loopholes built into the penalties. The US and most EU …
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US President Joe Biden took a swipe at oil giant Exxon on Friday, accusing the company of making “more money than God” while Americans suffer at the pumps. However, Exxon says it’s scaling up production, while conservatives blame the high gas prices on Biden’s own policies. Speaking at the Port …
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Hungary intends to fund its military and social safety programs by taxing banks, insurance companies, airlines, energy and telecom utilities and others, Prime Minister Viktor Orban announced on Wednesday. It’s Orban’s first action under a state of emergency that Budapest has just enacted, citing the conflict in neighboring Ukraine. The …
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Ten more European gas buyers have opened accounts in Russia’s Gazprombank, Bloomberg reported on Thursday, citing sources close to Gazprom. That has doubled the total number of clients preparing to pay in rubles for Russian natural gas in compliance with Moscow’s demand. According to the sources, a total of 20 …
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A handful of Big Tech firms have been conned into turning over user data in response to phony law enforcement requests – data that is then used to extort and sexually harass those users, several informed sources told Bloomberg on Tuesday. Companies including Google, Apple, Meta, Twitter, Snap, and Discord …
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The nationalization of assets belonging to foreign companies that quit Russia is not on the table, the country’s top senator said on Wednesday. Speaking before Parliament, Valentina Matvienko commented on reported plans in Germany to nationalize energy companies. “We don’t want to turn into raiders, like our opponents do. Nationalizing …
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The Russian government has suspended work on the recently proposed bill to nationalize foreign firms that have chosen to end their operations in the country amid Ukraine-related Western sanctions, Izvestia newspaper reported on Monday, citing sources. Last month, a government commission on legislative activity approved a draft law, which would …
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