China Turned to Small Banks, ‘Teapot’ Refineries to Dodge Iran Sanctions
China has helped Iran blunt the impact of U.S. sanctions over the past five years by buying the bulk of its oil exports and supporting a complex financial and shipping network that has allowed Tehran to keep earning billions of dollars in revenue.
After OFAC Waiver, Asian Nations Increasingly Turn to Russian Oil
Asian countries hit by acute energy disruptions from the Gulf conflict are increasingly turning to Russia for emergency oil supplies after the United States granted a temporary sanctions waiver on Russian crude.
Misinvoicing in Asian Trade Has Doubled Over the Past Decade: Report
Trade misinvoicing is occurring at “massive scale” across Asian supply chains, with discrepancies in reported invoice values reaching a record $1.7 trillion in 2022 across developing Asia.
OFAC Lifts Sanctions on 3 Russian Ships, Raising Questions of Policy Shift
The United States has lifted sanctions on three Russian-flagged commercial vessels, but the Treasury Department says the move does not signal a broader change in Washington’s policy toward Russia.
UK Cargo Theft Is Worsening as Thieves See Low Risks for Big Rewards
Cargo theft in Britain is evolving into a high-yield criminal business that costs the economy about £700 million a year, as organized gangs target truckloads of food, alcohol, electronics, and consumer goods that can be quickly resold through online platforms and grey-market wholesalers.
Hungary Secretly Worked with Russia to Water Down EU Sanctions
Hungary’s foreign minister privately shared sensitive European Union discussions with Russia and worked with Moscow to try to remove sanctioned Russian individuals, banks, and companies from EU blacklists.
From Cuba to South Korea, Russian Oil Exports Start Arriving
Cuba was preparing on Monday to receive a sanctioned Russian tanker carrying about 730,000 barrels of oil, offering a temporary lifeline to the island as it struggles through a fuel crisis worsened by a U.S. oil blockade.
Even with U.S. Waiver, Iran’s Oil Heads for China
China remains the destination for about 90 percent of Iranian crude exports despite a recent U.S. sanctions waiver intended to release previously restricted oil onto global markets.
India Begins Buying Iranian LPG Again
India has purchased its first cargo of Iranian liquefied petroleum gas in years after the United States temporarily lifted sanctions on Tehran’s oil and refined fuel exports.
South Africa’s ‘Rhino Baron’ Accused of Running Massive Horn-Trafficking Ring
South African authorities have accused captive rhino breeder John Hume of leading one of the largest rhino-horn trafficking syndicates on record and using domestic reporting requirement to conceal his illicit activity.