Sanctions

The move reflects a strategic shift in India’s European fuel trade, reducing reliance on northern distribution hubs such as The Netherlands in favour of direct end markets such as Spain

Higher US crude import may hinge on prices competitive with Middle East supplies

Even though crude oil from the US could cost slightly more than the price of Russian oil, Indian lenders have turned increasingly cautious as sanctions have targetted two major Russian energy firms.

UK slaps fresh sanctions on Russian 'shadow fleet'

Experts say the so-called ghost fleet of tankers with opaque ownership or without proper insurance has allowed the Kremlin to keep exporting despite the embargo on exports and oil price cap on its global sales.

Russia's Sberbank says India business booming despite Western sanctions: Report

Sberbank handles payments for up to 70% of all Russian exports to India. Russia's trade with India nearly doubled to $65 billion in 2023, with the country becoming a major importer of Russian oil after Western sanctions imposed in 2022 over a conflict in Ukraine.

Thai plastics firm will pay $20 million to settle with US over Iran sanctions violation

SCG Plastics Co. used US banks to process USD291 million in sales of Iranian high-density polyethylene resin from 2017 to 2018, according to the signed settlement agreement between the firm and Treasury's Office of Foreign Assets Control.

US sanctions Chinese, Belarusian firms for providing ballistic missile components to Pakistan

China, a steadfast ally of Pakistan, has played a crucial role in supplying arms and defense equipment for Islamabad's military modernisation endeavors

Indian refiners face uncertainty as US sanctions loom over Venezuela

The US may impose sanctions on Venezuela from April. That will pose a challenge for India as it has been a key source of crude oil at a discounted price

Janet Yellen Says US Is Not Ruling Out New Sanctions Against Iran

Following the surprise Oct. 7 attack on Israel by Hamas militants, for which Iran has voiced its approval, speculation has grown over whether the US would tighten its restrictions on Iranian oil exports.

BRICS nations say new currency may offer shield from sanctions

The foreign ministers of Brazil, Russia, India, China and South Africa convened in Cape Town earlier Thursday to discuss how the bloc can win greater global influence and to challenge the US. While they didn’t reach firm conclusions, the use of alternative currencies was among the prominent talking points.

Japan to slap additional sanctions on Russia after G7 summit

Japan will freeze assets of 78 groups and 17 individuals in Russia and ban exports to 80 Russian entities such as military-affiliated research labs, according to the bulletin.

Russia’s Latest Sanctions on US Officials Turn to Trump Enemies

Among the 500 people singled out for travel and financial restrictions Friday were Americans seen as adversaries by Trump, including Letitia James, the state attorney general of New York who has investigated and sued him.

G7 leaders to target Russian energy, trade in new sanctions steps

New measures announced by the leaders during the May 19-21 meetings will target sanctions evasion involving third countries, and seek to undermine Russia's future energy production and curb trade that supports Russia's military, the people said.

Russia says it has billions of Indian rupees that it can't use

“This is a problem,” Lavrov told reporters in India’s western state of Goa on the sidelines of the Shanghai Cooperation Organization meeting. “We need to use this money. But for this, these rupees must be transferred in another currency, and this is being discussed now.”

India, Russia suspend negotiations to settle trade in rupees: Report

This would be a major setback for Indian importers of cheap oil and coal from Russia who were awaiting a permanent rupee payment mechanism to help lower currency conversion costs.

Russian FM: Launching new system for cross-border payments, ‘no restriction’ on digital currencies

"Two parties come to an agreement, make settlement payments, and no other country could step in and freeze such payments," Russian Finance Minister Anton Siluanov said.

Russian arms sales to India hit currency crossroads amid US sanctions

India is unable to settle the bill in US dollars due to concerns about secondary sanctions, while Russia remains unwilling to accept rupees due to exchange-rate volatility

Russia imposes sanctions on 333 Canadians in tit-for-tat move

The list, published by Russia's foreign ministry on Wednesday, includes Canada's Governor General Mary Simon.

Govt to ensure no breach on Russia oil purchase sanctions

Government authorities have asked banks and traders to adhere to the oil purchase rules, including the $60-price cap, according to sources. Officials have not gone on the record to say they will support sanctions and the price cap imposed by the Group of Seven nations on Russia.

US sanctions three people for abuse of Russian opposition politician

The U.S. Treasury Department said the sanctions target Elena Anatolievna Lenskaya, Andrei Andreevich Zadachin and Danila Yurievich Mikheev for abuses under the Global Magnitsky Act.

One year of Ukraine war: How Russian economy held ground despite sanctions; did booming trade with India help?

Russia has not only shored up its revenue by increasing the crude sale to New Delhi -- though at a heavily discounted price -- it is also finding an indirect supply route to the West via the fuel processed by India, analysts say.

US announces new sanctions targeting Russian banks, military industry, semiconductor access

The sanctions will adversely affect "over 200 individuals and entities, including both Russian and third-country actors across Europe, Asia, and the Middle East that are supporting Russia’s war effort," the White House said

US to impose more sanctions on Russia, address violations by others: Janet Yellen

Yellen's comments follow US Secretary of State Antony Blinken's statement that China is considering providing ammunition and weapons to Russia in its war against Ukraine

China’s economic support for Russia could elicit more sanctions

The actions that the United States has taken against Russia in partnership with more than 30 countries constitute the broadest set of sanctions and export controls ever imposed against a major economy.

India averse to discussing new Russia sanctions at G20

The Indian sources, who are directly involved in this week's G20 meeting of finance ministers and central bank chiefs, said the war's macroeconomic impact would be discussed but India does not want to deliberate on additional actions against Russia during its one-year presidency.

EU debates 11 billion euro worth of trade curbs in new Russia sanctions

The bloc is expected to agree new sanctions to mark the one-year anniversary of Russia's invasion of Ukraine on Feb. 24, but the specific proposals must yet win the unanimous backing of all EU member states.