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UK Blacklists Five Individuals Accused of Exacerbating Suffering Through Corruption

The United Kingdom on Thursday imposed asset freezes and travel bans on five individuals accused of enriching themselves from illicit schemes that worsened human suffering in Equatorial Guinea, Zimbabwe, Venezuela and Iraq. The sanctions announced by UK Foreign Secretary Dominic Raab under the nation’s Global Anti-Corruption sanctions regime target Equatorial Guinea’s… Read More

Cyprus emerges as sanctions workaround for Venezuela oil shipments

The Cyprus maritime and business sector is being used by shipowners in the European Union to register and flag tankers involved in Venezuelan oil trades with tacit acceptance from the republic’s shipping ministry, a Lloyd’s List investigation has found. At least 11 elderly tankers involved in Venezuelan trades have moved… Read More

Shipping industry seeks to combat dark oil transfers at sea

Top oil shipping companies say they have tightened operational guidelines and deployed technology to prevent accidental breaches of sanctions, as the countries hit by ever tougher restrictions fight back with elaborate strategies to dodge them. Washington has ramped up shipping-related sanctions over the last two years to make it harder… Read More
13th July 2021
Citigroup Inc. plans to exit Venezuela by selling its remaining business there, ending more than a century of operating in the South American country. The New York-based firm agreed to sell the unit to Banco Nacional de Credito, has already obtained regulatory approval and expects to complete the deal in… Read More
28th June 2021
A group of Spaniards drove up a private road on the dry plateau west of Madrid. The four entrepreneurs, hungry for cash for their promising startup, were headed to meet a wealthy young Venezuelan, owner of the hilltop castle ahead. The meeting, according to three people familiar with that July… Read More
24th June 2021
The owner of a transportation company that hauls gold around the country has been charged in a massive money-laundering case extending from Latin America to South Florida that is still shaking up the precious-metals industry four years after the initial indictment was filed in Miami. Jesus Gabriel Rodriguez Jr., CEO… Read More
22nd June 2021
With its access to the global financial system restricted by U.S. sanctions, Venezuela managed to make some payments for the country’s coronavirus vaccines by asking a handful of private local banks to pay on the government’s behalf, two sources familiar with the matter said. The banks have used foreign currency… 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
7th June 2021
Traders are racing to deliver record volumes of Venezuelan crude oil masked as Malaysian bitumen blend to China, ahead of new fuel taxes that look set to upend the lucrative flow of sanctioned oil to the world’s top crude importer. China has over the past 12 months bought an estimated… Read More
28th May 2021
By Kayla Izenman, RUSI, 26 May 2021 RUSI — Almost every day it seems a new form of digital money emerges, often touted as the next hot idea. But with so many governments indicating interest in these developments, central bank digital currencies (CBDCs) might actually be… Read More
27th May 2021
InSight Crime — A Turkish mafia boss, who has been making a number of extraordinary claims about his country’s elites and organized crime, has alleged that a plan was set in motion to traffic cocaine from Venezuela to Turkey, opening up a new supply route. In a… Read More
17th May 2021
InSight Crime — The escalating violence between security forces and a gang that formerly enjoyed official protection in Venezuela’s foremost mining region shows how the breakdown of criminal and political alliances can lead to open conflict. Over the last year and a half, the El Perú… Read More
7th May 2021
Wall Street firms have urged the Biden administration to ease the industry’s burden in complying with a flood of financial sanctions the U.S. has levied in recent years as a primary tool of foreign policy toward Russia, China, Iran and other adversaries. Financial services industry groups have asked for more… Read More