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Economic Sanctions

Ninety North Korean Ships Granted Entry to Japan

Ninety North Korean vessels were granted certificates to enter Japanese ports in the eight months since a new law that bans entry of any ship without insurance took effect, according to a Daily Yomiuri report. The law on liability for oil pollution damage, which came into force on March 1, requires vessels of 100 tons or larger to be insured before docking in Japan. It had been viewed as a de facto economic sanction, as it was believed that most North Korean vessels would not fulfill the law's requirements and therefore would be unable to dock in Japan. But according to the report, some Liberal Democratic Party members recently said more North Korean vessels had insurance coverage than they had expected. Source: Daily Yomiuri


Shipping Company's Losses Total $110M

Ukraine's Danube Shipping Company lost $110 million due to military action in Yugoslavia last year that destroyed bridges and blocked traffic along the Danube, transport minister Leonid Kostyuchenko said. NATO launched air strikes last year on Yugoslavia, which it accused of ethnic cleansing in the province of Kosovo, densely populated by ethnic Albanians. Kostyuchenko said collapsed bridges had blocked 63 Ukrainian ships on upper stretches of the Danube


Kuwait In Trouble With Iraqi Authorities

Iraqi authorities told Kuwait on Friday it was "playing with fire" in seizing five vessels loaded with goods shipped from Iraq in violation of United Nations sanctions. An Iraqi Culture and Information Ministry spokesman, said the seizure was a foolish act that again confirmed Kuwait was acting as an Israeli-U.S. police force in the Gulf. "The Kuwaiti regime's repeated hindering of commercial navigation in the Gulf reveals that the Kuwaiti rulers..


Oil falls below $110 as Ukraine worries ease

Putin orders troops in military exercise back to base. U.S., EU warn Russia could face sanctions over Crimea; U.S. crude inventory likely rose 1 mln bbls last week. Oil fell more than $1 on Tuesday to below $110 a barrel after President Vladimir Putin recalled troops to base from military exercises in western Russia near its borders with Ukraine. April Brent crude was down $1.47 at $109.73 a barrel by 0900 GMT. It closed the previous session at its highest since Dec. 27.


Hints Of Possible Deal On Ukraine Gas Emerge At G20

 Behind statements that Russia will not budge in demanding Ukraine repay its debts for its natural gas deliveries, hints    emerged at a meeting of G20 finance chiefs this week that a deal in which Moscow eases its stance might be in the works.   Financial aid to Ukraine was a hot topic at a meeting of finance ministers from the Group of 20 leading nations, but the    country's gas crisis, which could threaten deliveries to Europe


UN Seeks Sanctions Waiver to Ship Arms to Mali

The United Nations is seeking an exemption from a U.N. Security Council arms embargo on Ivory Coast so it can ship weapons and military equipment across the East African nation to its peacekeeping mission in landlocked Mali, a spokesman said on Thursday. The statement came after U.N. sanctions monitors called for the world body to stop allowing arms to be shipped to the U.N. mission in Mali, known as MINUSMA, through Ivory Coast after they said a load of military hardware sent by China


EU Seeks Criminal Penalties for Environmental Offences

Pouring waste oil into water or polluting the air would become criminal offences across the European Union under proposals put forward by the EU's executive body on Tuesday. The offences are already outlawed under EU law but, in many cases, offenders currently face only civil sanctions or must pay compensation. Legislation proposed by the European Commission would ensure that the most serious breaches of environmental law would face criminal penalties when committed intentionally or due to


Cold Weather Sparks Higher Oil Prices

Oil prices rose on Wednesday after fresh industry data showed cold weather had eaten into heating oil inventories in the United States. The stocks figures rekindled concerns of inadequate winter heating fuel stocks as a bitter Arctic weather front wreaked havoc in the U.S. Midwest and began sweeping northeastwards. Prices showed little reaction to signs that Iraq was returning to the world crude market and had started loading an Indian-chartered tanker at the port of Mina al-Bakr on the Gulf


Iraqi Tanker Seized For Smuggling

Kuwait seized an Iraqi oil tanker for reportedly trying to smuggle 650 tons of fuel to the United Arab Emirates in violation of international sanctions. The official Kuwait News Agency (KUNA) quoted an Interior Ministry statement as saying that Kuwaiti patrol boats intercepted the tanker at dawn on Saturday (June 24) inside Kuwaiti territorial waters while sailing from Iraq's Umm Qasr port to the UAE. It said that 11 crew members were on board the tanker, which it said was carrying diesel fuel


Harrington Hoists Launches Kito Americas in S America

Harrington Hoists, Inc. has expanded into South America under the Kito brand.  In doing so, Harrington has launched the newly created Kito Americas; a Kito brand to support these markets.       “This is an exciting time for Harrington” commented Carlo Lonardi, VP Sales & Marketing, “for the first time Kito Corporation has sanctioned our expansion into the South American marketplace


Argentina To Eliminate Taxes Paid By Biodiesel Producers

Argentine President Cristina Fernandez

  Argentine President Cristina Fernandez on Monday asked Congress to eliminate some of the taxes paid by biodiesel manufacturers in a bid to support an industry hard hit by European Union anti-dumping measures.


China's New Environment Law Submitted To Parliament

  Amendments to China's 1989 environmental protection law that will mean stiffer punishments for polluters have been submitted to the country's parliament for deliberation, official news agency Xinhua reported late on Monday. The National People's Congress (NPC)


Gazprom And OMV Chiefs Discuss Alternative European Gas Routes

Gazprom & OMV talks

  The chief executives of Gazprom and OMV held talks on Tuesday about supplying Russian gas to Europe using routes that bypass Ukraine, they said in a statement. Gazprom's Alexei Miller and OMV's Gerhard Roiss said they had discussed "optional alternative supply


EU gives Geneva deal a chance before adopting new Russia sanctions

  The European Union is holding off imposing further sanctions on Russia for now over its actions in Ukraine until it sees if a deal reached in Geneva last week works, EU diplomats said on Tuesday.


Iran's Oil Exports Surge above Sanctions

Iran's crude oil exports have surged to their highest in 20 months, far exceeding a 1 million barrel-per-day limit set by the West under an interim deal on curbing Tehran's nuclear program. The International Energy Agency's monthly report revised February's global crude imports from Iran


French foreign minister meets Raul Castro on historic visit to Cuba

 France's foreign minister met with Cuban President Raul Castro on Saturday during the first visit to the island by such a high-ranking French official in 31 years and a sign of the quickening pace of improving ties between the European Union and Havana.  


"Gas War" looms as Pro-Russian militants raise flags in East Ukraine

 Pro-Russian militants raised their flags over official buildings in two eastern Ukrainian cities on Saturday, deepening a stand-off with Moscow which, Kiev warned, was dragging Europe closer to a "gas war" that could disrupt supplies across the continent.  


Putin set on defusing Ukraine crisis

Foreign ministers from East and West will try to defuse the Ukraine crisis on Thursday in Geneva, once frequently the scene of Cold War negotiations, but will risk being upstaged by Russian President Vladimir Putin. With Russian troops massed on the border with Ukraine


Shell Commited To Russia Expansion Despite Sanctions

Meeting with Shell CEO Ben van Beurden. (Photo: The Presidential Press and Information Office)

Royal Dutch Shell is committed to expansion in Russia, Chief Executive Ben van Beurden told Russian President Vladimir Putin at a meeting on Friday amid sanctions imposed on the country after its annexation of Ukraine's Crimea region.  


New sanctions threats as Ukraine stalemate goes on

A day after an international deal in Geneva to defuse the East-West crisis in Ukraine, pro-Russian separatists vowed not to end their occupation of public buildings and Washington threatened further sanctions on Moscow if the stalemate continued.


Ukraine Calls "Easter Truce" As Separatists Hold Firm

Vladimir_Putin

  The Ukrainian government said it will not attack pro-Russian separatists over the Easter weekend as its U.S. ally threatened Moscow with new sanctions if it fails to persuade the militants to surrender. The Kremlin denies having control over gunmen who want their eastern regions


OMV CEO Warns Against More Russia Sanctions

  Europe should avoid more sanctions against Russiaover its role in Ukraine and continue to pursue dialogue with Moscow, the chief executive of OMV , the longest-standing Western trade partner of Russian gas monopoly Gazprom, said.


Mediator Heads To East Ukraine, Seeking Surrenders

Pro-Russian activists in Ukraine

  A mediator from Europe's OSCE security body headed to eastern Ukraine on Saturday seeking the surrender of pro-Russian separatists as the Kiev government declared an Easter truce following a peace accord with Moscow.


World Petroleum Congress to be held in Moscow

  Deputy Prime Minister of the Russian Federation, Arkady Dvorkovich, has confirmed that the 21st World Petroleum Congress will be held in Moscow from 15 – 19 June 2014. The congress will be the largest international event in the global oil and gas industries


U.S. Could Hit Russian Officials With Sanctions

Jen Psaki

The United States could impose sanctions on a range of Russian officials over the crisis in Ukraine, U.S. State Department spokeswoman Jen Psaki said on Monday. Asked in an interview on Twitter whether the United States was considering the possibility of


 
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