To Bypass Russia Sanctions, Newly Sold Foreign Cars Often Take a Detour in China
Tens of thousands of foreign-brand cars are reaching Russia via China through gray-market channels that often circumvent sanctions and automakers’ pledges to exit the Russian market.
Western Trade Data Points to Trillions Lost to Deliberate Misinvoicing
Trade misinvoicing may have siphoned roughly $3.64 trillion in illicit value out of the Western hemisphere over the decade from 2013 to 2022, with annual “trade value gaps” climbing to a new high of about $473.2 billion in 2022, according to a new report by Global Financial Integrity (GFI).
EU May Ban Crypto Payments Tied to Russia, Restrict Exports for Kyrgyzstan
The European Commission has proposed a blanket ban on cryptocurrency transactions linked to Russia and new trade restrictions on Kyrgyzstan in an effort to close loopholes used by Moscow to fund its war in Ukraine.
Trump Administration Readies License to Extract Venezuelan Oil
The Trump administration is preparing to issue a broad Treasury Department license as soon as this week that would allow companies to pump oil in Venezuela, a move aimed at easing U.S. sanctions and jump-starting investment in the country’s decaying energy infrastructure.
EPPO Launches Investigation into Customs Fraud, Corruption at the Port of Antwerp
The European Public Prosecutor’s Office (EPPO) has launched an investigation into suspected customs fraud, corruption and document forgery linked to operations in the Port of Antwerp, alleging a scheme that caused an estimated €11.3 million in lost EU import duties.
Trump Officials Unlock Venezuelan Oil for Two Firms Accused of Bribery
The Trump administration has granted confidential licenses to two of the world’s largest oil traders, Vitol and Trafigura, to broker sales of Venezuelan crude, despite both firms’ recent brushes with bribery prosecutions tied to oil deals elsewhere, The Washington Post reported.
How a U.K. Loophole Hands the Kremlin Tens of Millions of Pounds Each Month
A senior Labour lawmaker is urging the British government to close a sanctions loophole that allows jet fuel and other refined oil products derived from Russian crude oil to enter the U.K., Politico reported.
Despite U.S. Push, Compliance Risks Remain Deterrent for Firms in Venezuela
President Donald Trump’s apparent green light for doing business in Venezuela is unlikely to prompt a rush of corporate investment, even if U.S. sanctions are rolled back, according to recent reporting by Dow Jones Risk Journal.
Panamanian Supreme Court Case Set to Decide Control of Canal Ports
Panama’s Supreme Court is nearing a decision in a lawsuit that could void a Hong Kong company’s license to operate two container ports at either end of the Panama Canal, The Wall Street Journal reported.