sanctions

WTO Panel: China May Levy Over $3bn In US Trade Sanctions

WTO Panel: China May Levy Over $3bn In US Trade Sanctions

November 3, 2019 3:15 pm

A World Trade Organization (WTO) panel said on Friday that China is entitled to slap compensatory sanctions on United States imports worth $3.579bn annually.

The decision stems from the US failure to remove anti-dumping duties, but the monetary value is roughly half the total amount that China had sought.

The ruling came as the world’s two biggest economies try to clinch phase one of a trade deal.

US President Donald Trump and his negotiators are “very optimistic” about concluding it, White House adviser Larry Kudlow has said.

With the WTO announcement, a three-member WTO arbitration panel said Chinese exporters suffered

…
US House Advances Bill Imposing Sanctions On Turkey

US House Advances Bill Imposing Sanctions On Turkey

October 30, 2019 5:46 pm

The United States House of Representatives on Tuesday overwhelmingly approved legislation aimed at imposing sanctions on Turkish military and government officials over Ankara’s military operation against Kurdish forces in northeast Syria.

The 403-16 vote is the latest rebuke of Trump’s decision to withdraw US forces from northeast Syria and leave Kurdish allies without military support as Turkey launched an operation in the area.

“These sanctions are specifically designed to target the Turkish officials and institutions responsible for the bloodshed in Syria without senselessly hurting the Turkish people,” said Representative Eliot Engel, the Democratic chairman of the House Foreign Affairs Committee.

…
US sanctions caused Iran’s currency devaluation – Report

US sanctions caused Iran’s currency devaluation – Report

August 17, 2019 7:26 am

The UN expert on human rights in Iran has said in a report that US sanctions reimposed on the country in 2018 have hit oil sales and caused the devaluation of its currency.

“The negative impact of the reimposition of economic sanctions” by Washington has been “felt strongly by ordinary Iranians,” Javaid Rehman said in his report to the General Assembly circulated Friday.

“The sanctions have hit oil sales, imposed wide-ranging restrictions on traders and businesses and triggered the devaluation of the Iranian currency,” he said.

“All these factors have contributed to raising the scale of austerity and pushing inflation …

US slaps sanctions on Al-Qaeda affiliate in Mali

US slaps sanctions on Al-Qaeda affiliate in Mali

July 18, 2019 12:18 am

The US Treasury on Tuesday imposed sanctions on an Al-Qaeda-linked Islamist group in Mali that carried out deadly attacks on the west African country’s armed forces.

The measures target Jamaat Nusrat al-Islam wal-Muslimin (JNIM) — designated a terrorist organization by Washington last September — and its commander Bah Ag Moussa, an army deserter who led a raid on a Malian military base that killed 21 former comrades.

“Treasury is targeting the leadership of JNIM, Al-Qaeda’s branch in Mali, for its destabilizing role conducting terrorist attacks across the country,” said Treasury Under Secretary Sigal Mandelker.

Read  Also: China to impose sanctions …

China to impose sanctions on US firms in Taiwan arms sale

China to impose sanctions on US firms in Taiwan arms sale

July 12, 2019 9:28 am

China on Friday said it would impose sanctions on US companies involved in a potential arms sale worth $2.2 billion to self-ruled Taiwan — a move that has infuriated Beijing.

“The US arms sale to Taiwan has severely violated the basic norms of international law and international relations,” said Chinese foreign ministry spokesman Geng Shuang in an online statement.

“In order to safeguard national interests, China will impose sanctions on US enterprises participating in this sale of weapons to Taiwan,” he said.

The planned weapons sale, the first transfer of big-ticket United States military gear to democratically-governed Taiwan in decades, …

U.S. ready to lift Iran sanctions – Envoy

U.S. ready to lift Iran sanctions – Envoy

June 24, 2019 8:43 am

The U.S. is ready to lift all the sanctions against Iran and restore diplomatic ties with Tehran, but on condition of a comprehensive deal first.

U.S. Special Representative for Iran Brian Hook made this known on Monday.

He said “If we can reach a comprehensive agreement, the U.S. is prepared to lift all of our sanctions, restore diplomatic ties that were broken 40 years ago, and to welcome the Iranian people into the international community.

Read Also: Iran lambastes U.S. over new sanctions on petrochemicals

“But we need to get to the deal first,” Hook told reporters.

He added that …

US sanctions caused Iran’s currency devaluation – Report

Iran lambastes U.S. over new sanctions on petrochemicals

June 8, 2019 8:13 am

Iran has criticised the U.S. for placing new sanctions on a large petrochemicals company, saying it showed that the Trump administration’s recent offer to negotiate was “empty”.

“The recent U.S. sanctions are again a clear violation of international rules and a confirmation of American economic terrorism,’’ Foreign Ministry spokesman Abbas Mousavi was quoted as saying by the IRNA news agency on Saturday.

On Friday the Trump administration said it was imposing sanctions on Iran’s largest petrochemical holding group.

Read Also: Trump imposes more sanctions on Iran

The administration accused it of providing support to the country’s Revolutionary Guard, a paramilitary …

Switzerland sanctions 5 banks for currency trade cartels

Switzerland sanctions 5 banks for currency trade cartels

June 6, 2019 7:48 am

Five of the world’s biggest banks have been fined about million Swiss francs (about 91 million dollars) for undermining competition in foreign exchange trading, Switzerland’s Competition Commission announced on Thursday.

The move by non-EU member, Switzerland, came three weeks after the European Commission, the European Union’s competition watchdog, imposed fines totalling 1.07 billion Euros (1.2 billion dollars) on these banks for cartel behaviour.

According to the Swiss commission, traders of the international banks had communicated in chat rooms to coordinate their actions in markets for 10 currencies, including dollars, Euros, British pounds, yen and francs.

Read Also: $48b forex …

President Donald Trump

Trump imposes more sanctions on Iran

May 8, 2019 9:12 pm

US President Donald Trump has tightened the screws further on Iran with sanctions on its mining industry after a frustrated Tehran said it would suspend some promises it made under a nuclear deal rejected by Washington.

On the anniversary of Trump’s withdrawal from the accord he denounced as “horrible,” tensions were soaring after the United States deployed an aircraft carrier strike group and nuclear-capable bombers to the region and accused Iran of “imminent” attacks.

In an announcement previewed for days, Iran said it would immediately stop implementing some restrictions under the 2015 deal — a move aimed largely at pressing …

US imposes sanctions on Iranian oil marketers

April 22, 2019 12:04 pm
The Trump administration has announced it will no longer exempt any countries from US sanctions if they continue to buy Iranian oil, increasing economic pressure on the Middle Eastern country.

The White House is stepping up pressure on Iran in a move that primarily affects the five remaining major importers – China and India, and the US treaty allies Japan, South Korea and Turkey.

President Donald Trump made the decision as part of the “maximum pressure” campaign on Iran, although Turkey and China have already criticised the administration.

The move aims to eliminate all of Iran’s revenue from oil exports, …

US sanctions Venezuela’s Central Bank

April 17, 2019 9:28 pm

The United States on Wednesday said it would forbid all Americans’ dealings with the Central Bank of Venezuela and also block any US assets of the the bank, as well as its director, Iliana Josefa Ruzza Teran.

America alleged that the bank was being used as key conduits for funding Maduro’s government.

The sanctions were the latest efforts by the US to strangle President Nicolas Maduro’s cash flow.

In a hard-hitting speech in Miami largely devoted to Cuba, National Security Advisor John Bolton also unveiled measures against a third leftist government in Latin America, Nicaragua, with sanctions against President Daniel …

Oil rises on Iran sanctions threat, Venezuela shutdown

April 1, 2019 9:13 pm

Price were also underpinned by a Reuters survey showing OPEC oil supply sank to a four-year low in March, and positive data from the world’s biggest economies, the United States and China.

Brent crude rose 26 cents, or 0.4 percent, to $69.27 a barrel by 0025 GMT, having earlier touched $69.29, a new high for 2019.

U.S. West Texas Intermediate (WTI) futures rose 28 cents, or 0.5 percent to $61.87 a barrel, earlier reaching $61.89, also a new high for 2019. WTI closed up 2.4 percent on Monday.

The U.S. government is considering additional sanctions against Iran that would target
…

TRENDING

Breaking

𝐀𝐟𝐫𝐢𝐜𝐚 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐍𝐞𝐰𝐬, 𝐍𝐞𝐰 𝐘𝐨𝐫𝐤, is a nonpartisan online news portal founded on the truth to provide you with weekly, insightful articles written with precision and current updates on current events from Africa in particular and the rest of the world in general. All of our reports undergo extensive fact-checking to ensure their veracity, and we adhere strictly to the facts, no matter whose ox is gored.

follow on social media

Facebook Twitter Youtube Telegram Linkedin

subscribe to newsletter

© 2018 - 2020 Africa digital news, New York
Powered by

People and Polity