Us Sanction News

Russia which is battling severe economic sanctions and has had to bear the cost of a prolonged war has got richer according to a recent report. Russia added $600 Bn in 2022 to its total wealth while the West which wanted to bankrupt Russia has lost trillions of dollars. The U.S. was the biggest loser, it lost $5.9 trillion in 2022. The combined losses of the US and Europe stood at $10.9 trillion according to a recent UBS report.

We will continue to aggressively use export controls to hold governments, companies, and individuals accountable for attempting to access US-origin items for subversive activities in countries like China, Iran, and Russia, said Commerce Secretary Gina Raimondo

Iran announced on Sunday that it won’t stick to the 3.67% limit for enrichment as it scales back its commitmentsIran is producing oil at the slowest clip since 1986, making US sanctions as effective as the devastating Iraq-Iran war that ended more than 30 years ago

Staying on good terms with mutually adversarial countries is not easy, but high-level diplomacy never is

Founder and Chief Executive Officer of Huawei, Ren Zhengfei, spoke about the effects of US sanctions on his company. He predicted that the Trump administration's move will push down the firm's revenue by $30 billion over the next two years. Huawei has been accused by the United States of America of facilitating espionage by Beijing. Subsequently, the US government placed the Chinese tech giant on a black list, forcing American companies dealing with the firm to take permission of government officials first.

China's crude oil imports in April rose a record for the month of 10.64 million barrels per day, an 11% rise from a year agoThe US reimposed sanctions on Iran in November, demanding all countries stop importing oil from the country; Iran has said it will defy the sanctions and continue to export oil

ExxonMobil has made a discovery of over 5 bn oil-equivalent barrels in the offshore Stabroek block of GuyanaIndia is looking at new sources to meet its energy needs after the sanctions waiver on importing Iran oil expired

US sanctions make life more difficult for ordinary Iranians but the Islamic Republic will get through them, Zamaninia saidOil prices hit their highest level since November last week

The government issued a statement spelling out the country’s ‘robust’ energy sourcing plan starting MayAn increase in oil prices is likely to put pressure on India’s fiscal and current account and comes against the backdrop of the 2019 Lok Sabha elections