Extractive Industries
20th June 2021
A $600 billion sovereign wealth fund is caught in the crosshairs of a political power struggle that’s roiling one of the world’s richest countries. The Kuwait Investment Authority, the world’s oldest state investment vehicle, has been in limbo since its board’s tenure expired two months ago. A new term has… Read More
18th June 2021
By Javier Villalba, InSight Crime, 17 June 2021 InSight Crime – A criminal group in Colombia is turning dirty money into adulterated gold, in the latest addition to a long list of laundering schemes using the precious metal. The Gaitanist Self-Defense Forces of Colombia (Autodefensas Gaitanistas de… Read More
18th June 2021
A 60-year-old Italian man was arrested at Schiphol Airport on suspicion of money laundering after authorities found several gold bars in his luggage. The gold was valued at about 365 thousand euros, the Marechaussee said on Wednesday. The man could not explain to the authorities how the gold bars ended… Read More
18th June 2021
By Javier LaFuente, Elías Camhaji, Zorayda Gallegos, Georgina Zerega, Roberto Deniz and Ewald Scharfenberg, El País, 16 June 2021 El País — On March 7, 2019, Venezuela was plunged into darkness. What most assumed was just another blackout lasted an hour, then another, and continued: one… Read More
17th June 2021
Italian police said on Wednesday they had broken up a complex money laundering operation and an illegal metal recycling business that had enabled criminals to transfer huge amounts of illicit cash between Italy and China. The three-year investigation, coordinated by the anti-mafia prosecutor’s office in the northeastern city of Trieste,… Read More
16th June 2021
Russian billionaire Oleg Deripaska lost a lawsuit that had challenged the basis for sanctions the U.S. imposed upon him in April 2018. In a ruling issued Sunday, U.S. District Judge Amit Mehta said the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) had acted within its authority to sanction… Read More
14th June 2021
The European Parliament has called for sweeping economic sanctions and a raft of other measures against Belarus in response to growing repression and the forced landing of a plane flying between two EU capitals to arrest opposition activist Raman Pratasevich. Economic sanctions should target Belarus’s state-run companies in the oil,… Read More
11th June 2021
The Biden administration on Thursday lifted sanctions on three former Iranian government officials and two Iranian companies involved in the country’s oil industry, a conciliatory gesture days before a potentially decisive round of nuclear talks in Vienna. The administration cautioned against reading too much into the move. Ned Price, the… Read More
11th June 2021
In a speech seen as an act of defiance against the Lebanese state and the US, Hezbollah leader Hassan Nasrallah on Wednesday insisted that Lebanon should be “negotiating with Iran to buy gasoline and diesel with the Lebanese currency if Lebanon’s shortages persist.” Seemingly unconcerned about the possibility that this… Read More
10th June 2021
The Anti-Money Laundering Council (AMLC) has issued the anti-money laundering and counterterrorism guidelines for Philippine offshore gaming operators (POGOs), real estate brokers, and dealers of jewelry and precious metals and stones. Mel Georgie Racela, executive director of the AMLC Secretariat, said the financial intelligence unit issued Resolution 109 last May… Read More