Iranian-linked ships carrying Russian oil were among those that received temporary exemptions from sanctions, a sign of how dire the energy crisis is becoming.
Category: Embargoes and Sanctions
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As War With Iran Hurts Oil Prices, U.S. Turns to Iranian Boats for Help
The New York Times – Business: -
Trump’s Move to Seize Oil Tankers Costs the U.S. Tens of Millions of Dollars
The New York Times – Business:Although President Trump said seizing tankers would be a financial boon, the cost of maintaining just one aging ship has already reached $47 million.
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How This Oil Supply Shock Compares to the Embargo of 1973
The New York Times – Business:Governments have stockpiled oil, and cars are more efficient but the supply shock is global, and there’s no sense of when it’ll end.
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As Oil Prices Rise, Trump’s War With Iran Becomes a Worldwide Economic Hazard
The New York Times – Business:The president insists conflict with Iran will be brief, but world leaders are preparing for severe economic blowback.
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Senator Blumenthal Opens Inquiry Into Iran Transactions on Binance
The New York Times – Business:Senator Richard Blumenthal of Connecticut sent a letter to Binance asking about the flow of $1.7 billion from accounts on the crypto exchange to Iranian entities.
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Supreme Court Considers Fate of Docks and Other Assets Seized by Cuba in 1960
The New York Times – Business:Amid rising tensions with Cuba, the Trump administration is backing lawsuits that would allow Americans to get compensation for property confiscated by Fidel Castro’s regime.
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Binance Pledged to Crack Down on Crime. Its Employees Found Potential Violations.
The New York Times – Business:Internal Binance investigators traced $1.7 billion that flowed from accounts on the exchange to entities linked to Iran, according to company records and other documents.
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Trump Aides Project Confidence on Tariffs After Court Loss
The New York Times – Business:Administration officials maintain that they can replicate the sky-high duties recently invalidated by the Supreme Court.
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Venezuela’s Natural Gas, Not Oil, Might Be a Big Early Prize
The New York Times – Business:The South American country has natural gas that could be extracted and exported quickly, but U.S. sanctions, which are now being eased, have stymied development.
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Lukoil Gas Station Franchisees Caught in a Fight Between US and Russia
After the United States imposed sanctions on Russia’s two biggest oil producers, the ripple effects wreaked havoc on business for local franchisees.
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Russia’s Lukoil to Sell Its Foreign Assets to U.S. Investment Firm
The deal with Carlyle comes after the United States and the European Union imposed sanctions on Lukoil, putting a dent in the Kremlin’s oil revenue.
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No Ikea Shelves, No Levis: The Retailers Pulling Out of Russia
Since the invasion of Ukraine began, the increasing financial and reputational risks of doing business in Russia are leading Western brands to halt operations.