SANCTIONS
Russia skirts Western sanctions to ramp up its military footprint in Africa
Russia is expanding its military role in Africa by sending weapons and equipment to countries like Mali, using sanctioned ships to bypass Western restrictions. This effort is led by the Africa Corps, which is replacing the Wagner Group. The move strengthens Russia’s influence on the continent while securing access to natural resources and competing with Western and Chinese interests.
“Live in my house and see Ukraine’s war”: Heavyweight boxing champion Usyk challenges Trump
Oleksandr Usyk has challenged Donald Trump to spend a week in Kyiv to experience the reality of life under Russian attacks, criticizing Trump for failing to fulfill his promise of quickly ending the war. Usyk highlighted the daily dangers faced by Ukrainians, including constant missile strikes, and urged Trump to take responsibility for his words and assist Ukraine.
Baker McKenzie appoints Sunny Mann as next Global Chair
Baker McKenzie has appointed Sunny Mann, the head of its international trade practice, as its new Global Chair, succeeding Milton Cheng in October. Mann, based in London, New York, and Washington D.C., advises on export controls, sanctions, and anti-bribery matters. He will lead the firm amidst a complex global landscape, leveraging its international reach to support clients facing geopolitical disruptions.
Iran says to submit own nuclear proposal to US soon
Iran is set to present a counter-proposal on the nuclear deal to the US via Oman, describing its offer as ambiguous and lacking elements from previous talks. This comes as Tehran insists on uranium enrichment as a non-negotiable right, while the US views it as a red line.
Dalmia Bharat, Birla Corp incentive demand worth Rs 430cr at risk after Bengal govt's policy churn
Dalmia Bharat and Birla Corporation risk losing a combined Rs 430 crore in state incentives after West Bengal scrapped eight industrial subsidy schemes from 1993–2013. Dalmia was due Rs 236 crore, and Birla Corporation has sanctioned and pending claims totalling nearly Rs 194 crore. Both firms are considering legal action.
Amazon agrees to tackle fake reviews in UK: regulator
Amazon has pledged to enhance its systems to combat fake online reviews on its UK platform, following an agreement with Britain's Competition and Markets Authority. This commitment includes stricter sanctions for businesses attempting to manipulate star ratings, potentially leading to their removal from the site.
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China's rare earth weapon changes contours of trade war battlefield
China is strategically weaponizing its supply chain, mirroring U.S. export controls. Recent rare earth export license issues, highlighted by a Trump-Xi call, reveal China's refined trade war tactics. Modelled after U.S. sanctions, China's system grants insight into critical supply chain points.
US slaps sanctions on four ICC judges over Israel, US cases
The United States has sanctioned four International Criminal Court judges. This includes those involved in the arrest warrant for Israeli Prime Minister Benjamin Netanyahu. Secretary of State Marco Rubio defended the move. He cited the need to protect US and Israeli sovereignty. Israel's Netanyahu welcomed the US action. Human Rights Watch criticized the sanctions.
Trump says it might be better to let Ukraine and Russia 'fight for a while'
During a meeting with German Chancellor Friedrich Merz, President Trump suggested allowing Ukraine and Russia to "fight for a while" before intervening for peace. Merz emphasized Germany's support for Ukraine and its focus on military targets, while Trump hinted at potential sanctions for both nations. Discussions also covered trade, NATO spending, and concerns about democratic values in Germany.
Trump travel ban on citizens from 12 countries leaves arch rivals China and Russia out
Trump has imposed a travel ban on citizens from 12 countries, citing security concerns, but notably excludes China and Russia. Despite frequently criticizing both nations over trade, technology, and military actions, the US President has not restricted their citizens' entry into the US. Even though Trump is frequently seen threatening both countries with more tariffs and sanctions, they are not included in this travel ban.
How can global community allow continuous legitimisation of Pakistan sponsored terrorism?: Congress leader Pawan Khera
Congress leader Pawan Khera criticized the international community for legitimizing Pakistan's alleged support of terrorism, citing loans from IMF, World Bank, and ADB, alongside Pakistan's UNSC committee roles. He questioned the global community's actions and linked them to India's foreign policy challenges. Taranjit Singh Sandhu also raised concerns about Pakistan's credibility in chairing the UNSC committee, given its history.
Zelenskyy shuns Russian demands, says open to direct talks with Putin
Zelenskyy is upping the pressure on Putin after a pair of audacious attacks against Russian targets in recent days that represented an embarrassing setback for the Kremlin. US special envoy for Ukraine Keith Kellogg said yesterday that additional sanctions on Russian are "ready to drop," based on his conversation with Republican Senator Lindsey Graham.
Iran's Ayatollah Ali Khamenei rejects US nuclear demand, vows to keep enriching uranium
Ayatollah Ali Khamenei stated that Tehran will continue uranium enrichment. This rejects a key U.S. demand for resolving the nuclear dispute. The U.S. presented a new nuclear deal proposal via Oman. Issues remain, including Iran's enrichment stance. Khamenei emphasized self-reliance. Trump's pressure campaign includes sanctions and threats. Israel has threatened to bomb Iran's nuclear facilities.
Ukraine, Russia hold peace talks but make no breakthrough after major attacks
Following Istanbul talks, Russia tempered expectations for a swift resolution in Ukraine, demanding troop withdrawal from annexed regions as a precondition for a ceasefire. Kyiv seeks a full cessation of hostilities, while Moscow proposes a partial truce. Amidst stalled negotiations, civilian areas are targeted, prompting Zelensky to urge stronger international action and sanctions against Russia.
Pakistan takes over chair of UNSC Taliban sanctions committee amid China-backed push in Afghanistan
Pakistan now chairs the UNSC's Taliban sanctions committee. This occurs amid efforts to improve ties with the Taliban, facilitated by China. Russia and Guyana are vice chairs. India, though not on the UNSC, can influence decisions through allies. India will likely work with France, Russia, Denmark, and Algeria to counter Pakistan's moves.
Adani Enterprises, other group stocks drop up to 3% amid US scrutiny over suspected Iranian LPG imports via Mundra Port
A WSJ report claimed US prosecutors are investigating alleged Iranian LPG imports via the Mundra port. The group denied all allegations, calling the report baseless and stating strict adherence to sanctions and compliance policies. The US Justice Department is reviewing tanker activities linked to Adani Enterprises amid ongoing trade tension concerns.
UK threatens to sue Abramovich over use of money from Chelsea sale
Britain is threatening legal action against Roman Abramovich over the frozen £2.5 billion from the Chelsea sale, intended for Ukrainian war victims. The government expresses frustration at the lack of agreement on fund distribution, seeking to ensure the money benefits Ukraine. While negotiations remain open, Britain is prepared to pursue the matter in court to resolve the impasse.
Oil rises on Iran, Russia and Canada supply concerns
Oil prices saw a rise in early Asian trade on Tuesday. This increase is due to supply concerns. Iran is likely to reject a U.S. nuclear deal. This could keep sanctions in place. Production in Canada is also affected by wildfires. OPEC+ agreed to maintain output increases for July. The Russia-Ukraine conflict continues to fuel supply worries.
'Baseless and mischievous': Adani Group denies being under investigation by US authorities over links with Iranian LPG
Adani Group refuted a Wall Street Journal report alleging links to Iranian LPG, calling the claims baseless and mischievous. The company stated it adheres to a strict policy of not handling cargo from Iran at its ports and is unaware of any US investigation.
Gautam Adani under new scrutiny from US prosecutors, WSJ reports
U.S. prosecutors are investigating whether companies linked to Indian billionaire Gautam Adani illegally imported Iranian liquefied petroleum gas (LPG) into India via the Mundra port, potentially violating U.S. sanctions. The U.S. Justice Department is reportedly reviewing the activity of these tankers, which supplied LPG to Adani Enterprises. Adani has denied any involvement in sanctions violations or trade with Iranian-origin LPG and stated it is unaware of any such investigation.
World War III looms: Global leaders given two weeks as the clock ticks toward catastrophe
US Senators Lindsey Graham and Richard Blumenthal suggest Vladimir Putin is preparing for a larger attack. They believe he is using peace talks as a delay tactic. The senators are pushing for a bipartisan sanctions bill. This bill aims to cripple Russia's economy. It targets countries that support Russia's war efforts.
'Putin is preparing for more war': US senators warn after talks with Zelenskyy and Macron
U.S. Senators Lindsey Graham and Richard Blumenthal warn that Putin is stalling peace talks while preparing a new military offensive in Ukraine. They advocate for a sweeping sanctions bill targeting countries supporting Russia's war economy, like China and India, hoping to sway President Trump's stance.
Iran poised to dismiss US nuclear proposal, says Iranian diplomat
Iran is likely to reject the United States' offer to resolve the long-standing nuclear disagreement. An Iranian diplomat called the proposal a non-starter. It fails to address Tehran's concerns regarding uranium enrichment and sanctions removal. The U.S. wants Iran to halt uranium enrichment. Tehran seeks immediate removal of all U.S. sanctions. Iran views the U.S.
Pakistan eyes chair of UNSC panel dealing with Taliban sanctions
Pakistan is vying for the chairmanship of the UNSC 1988 Committee, which oversees sanctions against the Taliban, as it seeks to improve relations with Kabul. Despite likely missing out on the 1267 Al-Qaeda sanctions committee, Pakistan aims to leverage the 1988 committee to potentially ease restrictions on the Taliban.
Putin is preparing for more war, US senators warn
US senators warn that Vladimir Putin is preparing a new military offensive in Ukraine. They say peace talks are a stalling tactic. Senators propose sanctions targeting countries supporting Russia's war effort. The bill aims to cut off Kremlin's war economy. Senators highlight the war's human toll and urge action to prevent further conflict.
Iran warns of retaliation if Europeans 'exploit' UN nuclear report
Iran on Sunday warned it would retaliate if European powers that have threatened to reimpose nuclear sanctions "exploit" a UN report showing Tehran has stepped up production of highly enriched uranium. The European trio have warned they could reimpose sanctions if they deemed Iran's nuclear programme a threat to the continent's security.
North Korea’s arsenal fuels Russia’s war: Secret arms, troop deployments, and sanctions defied
A new report reveals North Korea's extensive military support for Russia's war in Ukraine, providing munitions, artillery, and troops. This partnership, formalized by a mutual defense treaty, involves Russia supplying North Korea with military technology and refined petroleum. Defying international sanctions, this alliance reshapes the conflict and poses challenges to global security.
Oil prices to stay around $65/barrel: Hardeep Puri
Oil Minister Hardeep Singh Puri expects oil prices around $65 per barrel. Ample supplies are expected in the market. High spare production capacity is influencing the oil market. The government plans to fill Strategic Petroleum Reserves. Global supplies might increase if sanctions on Iran and Russia are lifted. Iran could become a major supplier again.
Oil prices climb as US court blocks Trump tariffs
Oil prices experienced a surge following a U.S. court's decision to block President Trump's tariffs. Market attention is also focused on potential U.S. sanctions impacting Russian crude flows and OPEC+'s decision regarding increased output in July. Supply concerns are mounting due to Chevron's terminated oil production in Venezuela.
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