Tag: sanctions

  • US Senate passes Russia sanctions bill championed by Lindsey Graham | US Senate passes sweeping R…

    US Senate passes Russia sanctions bill championed by Lindsey Graham | US Senate passes sweeping R…

    Explore the latest developments concerning US Senate passes.

    US Senate passes Russia sanctions bill championed by Lindsey Graham

    Late senator spent final days of his life working to advance bill that will now head to the House after 86-11 Senate vote

    By a large, bipartisan margin, the US Senate on Friday approved a bill intended to punish Russia and countries that buy its petroleum exports over the invasion of Ukraine, capping a legislative push that was spurred by the death of its champion, the Republican senator Lindsey Graham.

    The measure, renamed the Lindsey O Graham Sanctioning Russia Act in honor of the late senator’s work on the issue, was approved by an 86-11 vote. Rand Paul of Kentucky was the sole Republican to oppose the legislation, together with 10 Democrats.

    US Senate passes sweeping Russian energy sanctions bill amid Ukraine war

    Legislation implements aggressive economic sanctions, including 100 percent tariff on Russian oil and gas importers.

    The United States Senate has passed an aggressive sanctions package targeting Russia’s energy revenues amid its ongoing invasion of Ukraine.

    The legislation passed on Friday, dubbed the “Lindsey O Graham Sanctioning Russia and Iran Act of 2026”, sets up to 100 percent tariffs on major nations importing Russian oil and gas. The measure, if passed, was expected to affect at least five top importers of Russian fuel, including China and India.

    The bill further targets clandestine maritime networks used to evade Western embargoes.

    The Senate voted 86–11 to pass the bill, which now heads to the House of Representatives. A vote in the 435-seat lower chamber will not take place until at least early September due to the congressional summer recess.

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    The dynamic landscape of current events often brings forth significant discussions. Monitoring these developments provides crucial insights.

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  • Ukraine war briefing: EU sanctions oust Russian president of world chess | The EU has imposed san…

    Ukraine war briefing: EU sanctions oust Russian president of world chess | The EU has imposed san…

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    Ukraine war briefing: EU sanctions oust Russian president of world chess

    EU unveils largest package in four years of measures against Russian individuals and interests; Laura Loomer shows up in Kyiv. What we know on day 1,612

    Arkady Dvorkovich, the president of the International Chess Federation (FIDE), said on Friday he ⁠was suspending his activity with the organisation after being placed on the EU list of sanctioned Russians. Dvorkovich, a former Russian deputy prime minister, complained that the designation was “unlawful and unfair”. A statement said Viswanathan Anand, an Indian world chess champion, would take over as the federation’s interim president.

    It came as the E⁠U has unveiled its largest sanctions package ​in four years against Russia, targeting 218 individuals ⁠and entities. The EU foreign policy chief, Kaja ⁠Kallas, said the measures hit more than 100 banks and cryptocurrency operators, more than 40 ‌vessels from Russia’s so-called shadow fleet, ​as well as several oil refineries. The package adds more ⁠than 50 military-industrial entities ​to the ​sanctions list, ​including key ​actors ‌involved in producing ​Russia’s ​long-range drones. The Russian oil price cap is frozen at $44.10 per barrel for 12 months, preventing an automatic increase that would have raised it to about $58.50.

    The EU has imposed sanctions on the head of the Russian Olympic Committee and the president of FIDE

    The European Union has imposed sanctions against Russia’s Minister of Sports and Chairman of the Russian Olympic Committee, Mikhail Degtyarev, as well as the President of the International Chess Federation (FIDE), Arkady Dvorkovich.

    This was announced by Ukraine’s Minister of Youth and Sports, Matviy Bidny. According to him, Degtyarev openly supports Russia’s war against Ukraine, while Dvorkovich, as head of FIDE, promotes the Kremlin’s interests and contributes to the legitimization of Russia in international sports.

    “Their inclusion on the EU sanctions list confirms that there is no place in the civilized world for Kremlin officials and their lobbyists,” Bidnyi noted.

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    Statement by FIDE President Arkady Dvorkovich – International Chess Federation

    Today, the EU decision to include my name in the 21st sanctions list was published. I want to state unequivocally that I consider this decision unlawful and unfair, and this decision will be immediately challenged by all possible means. I am confident that justice will prevail.

    However, given that until a formal court decision is rendered and/or such decision is cancelled or amended, these sanctions could hinder the stable functioning of FIDE, I have decided to voluntarily suspend the exercise of my powers and duties as FIDE President with immediate effect and for as long as I remain subject to sanctions under the EU and Swiss laws and regulations. In accordance with the FIDE Charter, the duties of the President will be assumed by the FIDE Deputy President, the 15th World Champion, Viswanathan Anand. 

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  • China blocks US sanctions against five ‘teapot’ refineries | MOFCOM issues a ban, requesting …

    China blocks US sanctions against five ‘teapot’ refineries | MOFCOM issues a ban, requesting …

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    China blocks US sanctions against five ‘teapot’ refineries

    Ministry of Commerce says sanctions against refineries accused of importing Iranian oil violate international law.

    China has announced an injunction to block US sanctions placed on five Chinese refiners accused ‌of buying oil from Iran.

    The US sanctions announced by the Department of the Treasury late last month bar the refiners from the US financial system and seek to penalise anyone doing business with the firms.

    In a statement on Saturday, China’s Ministry of Commerce said the sanctions “improperly” restrict business between Chinese enterprises and third countries “in violation of international law and the basic norms governing international relations”.

    MOFCOM issues a ban, requesting not to recognize, enforce and comply with US sanctions on five Chinese firms

    China voiced firm opposition to the US Federal Communications Commission's (FCC) latest restrictive move against companies and products …

    China urges the EU to immediately remove Chinese enterprises and individuals from the sanctions list the bloc issued …

    China decided to lift countermeasures against two EU financial institutions – UAB Urbo Bankas and AB Mano Bankas …

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    U.S. warns banks of sanctions risk over China ‘teapot’ refineries handling Iranian oil

    The U.S. Treasury warned financial institutions Tuesday that they could face sanctions if they engage in dealings with Chinese refineries that process Iranian oil.

    The Treasury urged financial institutions in a statement to avoid facilitating transactions involving independent refineries, known as "teapots," that import Iranian oil, as such transactions may expose them to sanctions.

    China purchases approximately 90% of Iran's oil exports, the Treasury noted, with teapot refineries accounting for the majority of these imports.

    "This revenue ultimately benefits the Iranian regime, its weapons programs, and its military. Some Chinese teapot refineries have used the U.S. financial system to conduct dollar-denominated transactions and procure U.S. goods," the Treasury added.

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