Sanctions News

Britain will allow imports of diesel and jet fuel refined abroad from Russian crude under a sanctions carve-out, watering down restrictions to help ensure supply at home as prices soar due to the conflict in the Middle East.While Britain's support for Ukraine remains steadfast, junior treasury minister Dan Tomlinson said, he added that the national interest had to come first and therefore a loosening of certain sanctions on some Russian products for now made sense."We have to make sure that we protect the security of supply for really important foundational goods in our economy…

The Trump administration on Tuesday imposed sanctions on an Iranian foreign currency exchange house and what it said were front companies overseeing transactions on behalf of Iranian banks as the U.S. maintains pressure on Tehran.The move came after Iran said its latest peace proposal to the United States over the U.S.-Israeli led war that started February 28 involves ending hostilities on all fronts including Lebanon, the exit of U.S. forces from areas close to Iran, and reparations…

Shipping giants CMA CGM and Hapag-Lloyd said on Sunday they had suspended all bookings to and from Cuba until further notice, with both citing a U.S. executive order issued on May 1, in the latest blow to the crisis-wracked island's economy.The temporary suspension of new orders by two of the world’s largest shipping companies could jeopardize as much as 60% of Cuba's shipping traffic by volume, two sources with direct knowledge of the situation said - a fresh hit to a country already nearing collapse amid a U.S. oil blockade that has throttled the island's fuel supply.“Following the U.S.

The U.S. government on Monday announced sanctions against three people and nine companies, including four based in Hong Kong and four in the United Arab Emirates, for aiding Iran's shipment of oil to China. The ninth company is based in Oman.The U.S. Treasury move follows sanctions announced on Friday on individuals and companies aiding Iranian purchases of weapons and components used to make drones and ballistic missiles.It comes days before U.S. President Donald Trump's planned meeting with Xi Jinping…

The United States is set to remove sanctions against Eritrea, according to an internal U.S. government document seen by Reuters, a decision analysts linked to the African state's strategic location on the Red Sea shipping route.The U.S. move is aimed at improving ties with Eritrea, which has a long Red Sea coastline opposite Saudi Arabia, while also sending a message to neighbouring Ethiopia not to go to war with its longtime Horn of Africa foe, analysts said.The war in Iran and closure of the Strait of Hormuz…

U.N. Security Council members will begin talks on Tuesday on a U.S.- and Bahrain‑backed draft resolution that could lead to sanctions against Iran, and potentially authorise force, if Tehran fails to halt attacks and threats to commercial shipping in the Strait of Hormuz, three Western diplomats said.Fresh exchanges of fire on Monday underscored the stakes as the U.S. and Iran struggle for control of the narrow waterway, a vital artery for global energy and trade, shaking a fragile four-week-old truce and reinforcing rival maritime blockades.The U.S.

Russia has added four LNG carriers to its fleet, LSEG ship-tracking data and the Russian ship register showed on Wednesday, which could help the country to increase its market share ahead of an EU ban on Russian gas imports.The European Union in January gave its final approval to a ban on Russian gas imports by late 2027.The bloc has also imposed sanctions on Russia in response to its war on Ukraine. The sanctions have limited Russia's access to the vessels it needs to gain a…

Reliance Industries has rejected two Iranian oil cargoes as they failed to meet its compliance requirements, the Indian refiner said on Friday, just days before the expiry of a U.S. waiver that has lifted sanctions on Iranian oil exports.Last month, Washington issued 30-day waivers on U.S. sanctions allowing the purchase of Russian and Iranian oil at sea in an attempt to ease prices which soared after U.S.-Israeli strikes on Iran.Treasury Secretary Scott Bessent on Wednesday said the U.S.

A cargo of liquefied natural gas from Russia's Portovaya plant on the Baltic Sea that is under U.S. sanctions is on its way to India, LSEG shipping data showed on Wednesday.If it reaches its destination, it would be the first such delivery to India since U.S. President Donald Trump last year said Prime Minister Narendra Modi had assured him India would stop buying Russian energy.India has never publicly confirmed any such pledge and has said its buying decisions are guided by price, supply security and consumer interests.

The U.S. will not renew a 30-day waiver of sanctions on Iranian oil at sea that expires this week, and quietly let a similar waiver on sanctions on Russian oil expire over the weekend, two administration officials told Reuters on Tuesday, as the U.S. imposes a blockade on shipments from Iranian ports.Tuesday's move signals that "Treasury is going full force on Economic Fury" on Iran, an apparent reference to Operation Epic Fury, the U.S.-led military campaign against the country…

India has bought its first cargo of Iranian liquefied petroleum gas in years after the U.S. temporarily removed sanctions on Tehran's oil and refined fuels, LSG trade flows and three industry sources said.India had shunned energy purchases from Iran in 2019 under pressure from Western sanctions. The tanker was initially bound for China, according to LSEG data.Sanctioned tanker Aurora carrying Iranian LPG is expected to shortly reach the west coast port of Mangalore, the sources…

The U.S. may soon remove sanctions from Iranian oil that is stranded on tankers to help lift global supplies and reduce prices, U.S. Treasury Secretary Scott Bessent said on Thursday."In the coming days, we may unsanction the Iranian oil that's on the water. It's about 140 million barrels," Bessent told Fox Business Network's "Mornings with Maria" program."So, depending on how you count it, that's 10 days to two weeks of supply," he added.Bessent said the addition of sanctioned Iranian oil into global supplies would help keep oil prices down for the next 10 to 14 days.

Maritime companies face rising sanctions and compliance complexity as regulators increasingly expect risks to be detected before violations occur, according to a new report published by Marcura.The report “The Fragmentation Problem in Maritime Compliance” points to divergence between US, EU and other sanctions regimes. Secondary sanctions have expanded, and a growing shadow fleet continues to obscure ownership, insurance and trading histories. Together, these factors increase…

Venezuela can now pay for gas received from Eni with oil thanks to a recent easing of U.S. sanctions, unlocking a situation that had left the Latin American country with a large debt to the Italian firm, Eni's CEO said on Thursday."That's really a big upside. Before we were stuck for almost one year. That created a build up in our outstanding," Chief Executive Claudio Descalzi said during a post‑results call.Descalzi, who confirmed that Venezuela owes the Italian group around $3 billion…

The U.S. Treasury Department on Wednesday imposed sanctions on more than 30 individuals, entities and "shadow fleet" vessels it said enabled Iran's illicit petroleum sales, ballistic missiles and weapons production.Treasury's Office of Foreign Assets Control also targeted multiple networks that enable Iran's Islamic Revolutionary Guard Corps and Ministry of Defense and Armed Forces Logistics to secure the precursor materials and machinery required for ballistic missile and other weapons production…

U.S. diesel exports to Europe hit an all‑time high in January after the continent strengthened its ban on imports of Russian-derived fuel, and as discounted Russian diesel displaced U.S. fuel in Brazil, data showed and analysts said.The developments show how Western sanctions, aimed at punishing Russia over its invasion of Ukraine, are reshaping markets, allowing U.S. producers to capture premium markets in Europe while forcing Russia to seek customers much farther from home.Notably…

India has seized three U.S.-sanctioned tanker ships linked to Iran this month and stepped up surveillance in its maritime zone to curb illicit trade, a source with direct knowledge of the matter said on Monday.India aims to prevent its waters from being used for ship-to-ship transfers that obscure the origin of oil cargoes, the source added.The seizures and heightened surveillance follow an improvement in U.S.-India relations. Washington earlier this month announced it will cut import tariffs on Indian goods to 18% from 50%…

The U.S. Department of Defense conducted a maritime interdiction and boarding of the vessel Veronica III, which tried to defy President Donald Trump’s quarantine, the department said on Sunday."Overnight, U.S. forces conducted a right-of-visit, maritime interdiction and boarding of the Veronica III without incident in the INDOPACOM area of responsibility," it said in a post on X."We tracked it from the Caribbean to the Indian Ocean, closed the distance, and shut it down," it added.(Reuters - Reporting by Preetika Parashuraman in Bengaluru; editing by Philippa Fletcher)

Management at a Russian-owned oil refinery in Germany have privately warned Berlin that U.S. sanctions are hurting its business and threatening fuel supply for the country's capital and the region, according to correspondence seen by Reuters.In a January letter, management of the PCK Schwedt refinery, controlled by Rosneft, made an "urgent appeal" to economy and energy minister Katherina Reiche to resolve a standoff with the United States over the refinery's future.The letter outlines escalating problems at the refinery…

The captain of an oil tanker intercepted by the French navy has been detained under investigations into whether it was operating under a false flag, the Marseille prosecutor’s office said on Sunday.The vessel named Grinch was seized in the Mediterranean on Thursday, then diverted to anchor off the French port city, on suspicion of being part of the shadow fleet that lets Russia export oil despite sanctions.The 58-year-old captain, an Indian national, was detained as part of the preliminary investigations, the prosecutors said in a statement that did not mention Russia.The vessel left the Russi

An oil tanker under EU sanctions for carrying Russian oil is being escorted to Tanger Med in Morocco by a Spanish rescue ship, Spain's Merchant Marine said on Tuesday.The Chariot Tide, which was sailing under a Mozambique flag and until November was known as the Marabella Sun, has been on an EU sanctions list since November 2024 for helping Russia export oil "while practicing irregular and high-risk shipping practices," according to the European Union. It has also been sanctioned by the UK…

The captain of a Venezuela-linked crude oil tanker seized by the U.S. this month has been taken from British territorial waters and is now aboard a U.S. Coast Guard vessel, a lawyer for the captain's wife said on Tuesday.The U.S. Coast Guard and U.S. military special forces, bearing a judicial seizure warrant, apprehended the Russian-flagged Marinera in the Atlantic near Iceland on January 7 after pursuing it for more than two weeks as part of Washington's efforts to block Venezuelan oil exports.After its capture…

The EU has proposed extending its sanctions against Russia to include ports in Georgia and Indonesia that handle Russian oil, the first time it would target ports in third countries, a proposal document showed on Monday. The proposal, reviewed by Reuters, wouldadd Kulevi in Georgia and Karimun in Indonesia to the sanctions list, meaning European companies and individuals would be barred from carrying out transactions with the two ports.The sanctions package, which would be the 20th imposed by the EU over Russia's actions in Ukraine…