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☆ New York tops the list of the 50 richest cities in the world
▼ + stars: | 2024-05-07 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

New York's millionaire population is now larger than the entire populations of Orlando or Pittsburgh. The Bay Area's millionaire population has surged by 82% over the past decade, to 305,700. The U.S. is home to 11 of top 50 richest cities, according to the report. "Notably, U.S. cities have significantly outperformed other western cities over the past decade when its comes to overall wealth and millionaire growth." Here is the full ranking of the world's richest cities, according to Henley & Partners and New World Wealth:1.

Persons: Andrew Amoils, Amoils, Juerg Steffen, Robert Frank Organizations: Henley & Partners, Area, Federal Reserve, Research, New, London, Sydney Locations: York, California, Orlando, Pittsburgh . New York, Brazil, Italy, Canada, San Francisco, U.S, Tokyo, London, China, Beijing, Singapore, Los Angeles, New York, Area, France, Hong Kong

☆ Russian oligarchs can't buy superyachts — but rich Americans are helping to fill the void
▼ + stars: | 2024-04-17 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +3 min

Superyacht sales fell 17% in 2023, but still stayed above pre-COVID levels. Sanctions imposed on Russian oligarchs dented the market, but America helped split the difference. AdvertisementBoth new and used superyacht sales of vessels longer than 100 feet fell again 2023 — in part due to sanctions imposed on Russian oligarchs. AdvertisementSales for superyachts over 200 feet slowed more than their smaller counterparts due to high pricing and longer build times, according to the report. That said, SuperYacht Times' head of intelligence, Ralph Dazert, told Business Insider that sales in America are helping to fill some of the void.

Persons: —, Ralph Dazert, Dazert Organizations: America, Service, SuperYacht Times, Yachting Locations: Florida, America, Russian

☆ US oil suppliers are getting a boost from Russian sanctions as India looks to buy more from them
▼ + stars: | 2024-04-01 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Russian imports took a hit as Western sanctions bite down on Moscow's ability to ship crude. That's as Western sanctions on Moscow have cracked New Delhi's appetite for Russian crude, causing India to pivot towards US exports. At the same time, Indian purchases of Russian oil have tumbled, as the US and its allies tightened enforcement of sanctions against Moscow. AdvertisementFor instance, Washington has started individually sanctioning entities that breach a Western price cap on Russian barrels, and has targeted over 50 ships since October. In March, India imported an estimated 33.8 million barrels of Russian crude, compared to 51.1 million in January, Kpler data showed.

Persons: —, It's Organizations: Bloomberg, Service, Moscow, Energy Information Administration Locations: India, Russia, Moscow, Washington, New Delhi, OPEC, Asia

☆ As Biden faces questions about his age, researchers weigh in on working in your 80s
▼ + stars: | 2024-03-10 | by ( Annie Nova | ) www.cnbc.com time to read: +6 min

"Fluid intelligence" slows with aging, Walsh said. U.S. President Joe Biden delivers the State of the Union address at the U.S. Capitol in Washington, D.C., March 7, 2024. Nearly 80% of older workers say they've seen or experienced age discrimination in the workplace, according to research by AARP. There are areas where older workers outperform younger workers. Philip Taylor University of Warwick professor"Crystallized intelligence," considered wisdom, also grows throughout our life, experts say.

Persons: Joe Biden, Biden, Chip Somodevilla, Robert K, Hur, Abdel Fattah el, John Walsh, Walsh, hasn't, Elizabeth Frantz, Selkoe, I've, Joel Kramer, Biden's missteps, Kramer, Philip Taylor, Taylor, Alex Katz, Toni Morrison, they've, —, Joseph Biden Organizations: Getty, gerontology, University of Southern, U.S, Capitol, Washington , D.C, Reuters, University of California, AARP ., UCSF, Aging, University of Warwick, Employees, Philip Taylor University of Warwick, Bettmann Locations: Washington , DC, California, Egypt, Mexico, Gaza, University of Southern California, Washington ,, Israel, Biden's State

Maxar Technologies Visual Investigations The $2.8 Billion Hole in U.S. Sanctions on Iran A Times investigation reveals how lax government oversight allowed shadowy oil tankers, covered by American insurance, to fund Iran’s regime. The American Club is one of only 12 major insurers of its kind, and the only one based in the United States. By then, the tankers had transported at least $2.8 billion in crude oil, based on the lowest reported prices of Iranian oil in 2023. The Treasury office has publicly enforced sanctions on the American Club only once in the past 20 years. Ultimately, the office said the American Club did “not appear to have been willful or reckless” and the case was settled.

Persons: Biden, ”, penna gabrielle toyomi, penna selene gabrielle, gabrielle, selene, lisa marianne selene, Samir Madani, Maggie Hassan, Daniel Tadros, “, Mr, Tadros, Shipowners, ” Mr, Madani of TankerTrackers.com, David Tannenbaum Organizations: Maxar, Maxar Technologies, Sanctions, U.S, White, New York Times, Times, Treasury Department, American Club, Treasury, cathay kirin, Copernicus, Planet Labs, Star, American, The Times, Revolutionary Guards Corps, Anadolu Agency, Getty, Club’s, Hamas, Bloomberg, United Against Nuclear, Nuclear, Glory, United, National Iranian Tanker, Labs, Copernicus Sentinel, Club, International Maritime Organization, AIS, Spire Locations: Gulf of Oman, American, U.S, Iran, New York, New Hampshire, United States, Hong Kong, Kharg, Kpler, China, Israel, Yemen, United Against Nuclear Iran, Nuclear Iran, United Arab Emirates, Asaluyeh, Dubai, of Oman, Persian, Oman, Cuba, Sudan, MarineTraffic, SynMax, TankerTrackers.com

☆ Nearly half of Russia's imported battlefield tech has been coming from US and EU companies: joint report
▼ + stars: | 2024-01-12 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

AdvertisementIn total, the advanced tech imported by the Kremlin in those months is valued at $8.77 billion, the report said. Components from all of these companies have been found in Russian weapons retrieved from the battlefield, the report added. That's more than the US, but still less than the amount of imported tech originating from the Western coalition, which includes South Korea and Japan, per the report's data. AdvertisementThe joint report comes just after Ukrainian President Volodymyr Zelenskyy said on Tuesday that Western sanctions were marred by loopholes. The Yermak-McFaul International Working Group on Russian Sanctions is partially run by Zelenskyy's office.

Persons: —, Volodymyr Zelenskyy, Michael McFaul Organizations: Service, Business, Kremlin, Russian Sanctions, Kyiv School of Economics, Manufacturers, Intel, Devices, Texas Instruments, AMD, Western, Stanford Locations: Moscow, Ukraine, Russia, US, Massachusetts, China, Hong Kong, South Korea, Japan

Russia has increasingly had to turn to a so-called "ghost fleet" of aging tankers to ship oil and avoid the cap. Panama, the Republic of the Marshall Islands, and Liberia have allowed some of those ships to carry their flags, according to Lloyd's List Intelligence and oil analysts. Lloyd's List Intelligence has said nearly 40% of the about 535 dark-fleet tankers have registered ownership via companies incorporated in the Marshall Islands. It also seeks to give leverage to countries buying oil outside the price-cap coalition to get discounted oil from Russia. The group is asking Liberia and the Marshall Islands to increase awareness among those in the trade that its flag should not be used for tankers transporting oil priced above the cap.

Persons: Dado Ruvic, Lindsey Whyte, John Berrigan, Brian Nelson, Timothy Gardner, Simon Webb, Rosalba O'Brien Organizations: REUTERS, Rights, Marshall, Intelligence, Britain's Treasury, U.S . Treasury, Reuters, EU, Thomson Locations: WASHINGTON, U.S, Liberia, Marshall Islands, Panama, Moscow, Ukraine, Russia, China, India, Republic, Marshall, Washington, British

☆ Residential cruise ship startups selling condos at sea for over $100,000 are struggling for the same reason
▼ + stars: | 2023-11-18 | by ( Brittany Chang | Kate Taylor | ) www.businessinsider.com time to read: +7 min

Throughout 2023, residential cruise ship startups have delayed their launches. AdvertisementBuzzy residential cruise ship startups like Storylines can't seem to stick to their timelines. But even it has faced roadblocks: Launched in 2002, residents had to pool $71 million to buy the $280 million ship themselves in 2003. AdvertisementStorylines is a prime exampleStorylines delayed the construction of its MV Narrative residential ship at least twice. Building a new ship is hard – but so is acquiring an old oneVictoria Cruises Line chartered its residential ship of choice.

Persons: —, Alister Punton, Brodosplit, Punton, Mike Kasperzak, Fares, Mikael Petterson Organizations: Service, Cruises Line, Residences, Brodosplit, Victoria Cruises Line, Victoria Cruises, Holland America Line's, Sea Cruises, Cruises, Miray Cruises, Villa Vie Residences Locations: Croatian

☆ As the West courts Russia's neighbors, Putin shows he won't give up its backyard without a fight
▼ + stars: | 2023-11-09 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +8 min

Russian President Vladimir Putin at the Eurasian Economic Summit on Nov. 9, 2022, in Bishkek, Kyrgyzstan. Russian President Vladimir Putin and Kazakh President Kassym-Jomart Tokayev at a joint news conference at the Kremlin in Moscow, on Feb. 10, 2022. "Central Asia obviously has to keep a fine balance and tread that line," Hess said. Analysts note that while an economically isolated Russia wants and needs to keep Central Asia on side, it is gradually losing its grip on the region. Russian President Vladimir Putin, Kazakh President Kassym-Jomart Tokayev and Uzbek President Shavkat Mirziyoyev arrive for a working breakfast of the leaders of the Commonwealth of Independent States in Moscow, Russia, on May 9, 2023.

Persons: Vladimir Putin, Keen, Emmanuel Macron, Putin, Ilham Aliyev, Serdar Berdimuhamedow, Emomali Rahmon, Alexander Lukashenko, Sergei Lavrov, —, it's, Max Hess, Hess, Kassym, Mikhail Klimentyev, Xi Jinping, Florence Lo, they've, Temur Umarov, Tokayev, Shavkat Mirziyoyev, Vladimir Smirnov Organizations: Economic, Getty, Russia, Commonwealth of Independent States, Russian, Central Asia —, Central Asian, Kazakh, CIS, West, Georgia, Foreign Policy Research Institute, CNBC, Kremlin, Reuters Central, Central, Central Asia Summit, Afp, Shanghai Cooperation Organization, Carnegie Russia Eurasia Center, Commonwealth of Independent, Sputnik Locations: Bishkek, Kyrgyzstan, Central Asia, Moscow, Russian, Kazakhstan, Uzbekistan, Kazakh, Russia, Tajikistan, Turkmenistan, China, Soviet, Armenia, Azerbaijan, Belarus, Baltic States, Soviet Union, Moldova, Ukraine, U.S, Afghanistan, Asia, Xian, Shaanxi

☆ Russia increased its stock of long-range missiles faster than expected, report says. It could spell a hard winter for Ukraine.
▼ + stars: | 2023-11-07 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

AdvertisementAdvertisementRussia increased its stock of long-range missiles despite Western sanctions designed to bite into its ability to produce them, a think tank said. AdvertisementAdvertisementBut the boost in Russian long-range missile stocks — with 115 being produced in October alone — indicates "that Russia has increased its domestic production of missiles faster than had been forecasted," said the ISW. The Russian military appears to be stockpiling missiles in preparation for a new wave of attacks on Ukrainian energy infrastructure in winter, British intelligence said in October. In the wake of Russia's invasion of Ukraine, Western countries have imposed sweeping sanctions on Russia aimed, in part, at cutting off supplies of Western-produced components of sophisticated weapons such as long-range missiles. Russia has used long-range missiles to hit both civilian and military targets as part of a strategy analysts say is aimed at terrorizing Ukraine and breaking its will to fight.

Persons: —, Vadym Skibitskyi, Skibitskyi Organizations: Service, The, Main Military Intelligence, Kyiv Post Locations: Russia, US, Ukraine, Kremlin, Russian

☆ Storylines Residential Cruise Faces Backlash From Investors, Ex-Employees
▼ + stars: | 2023-11-01 | by ( Kate Taylor | Brittany Chang | ) www.businessinsider.com time to read: +31 min

Storylines' first cruise ship was initially scheduled to launch in 2019; it's now set for December 2026. Nine former employees, consultants, and investors told Insider that they'd come to doubt the MV Narrative would ever be built. The only existing residential cruise ship is The World. Many Storylines buyers remain optimistic about the residential cruise ship. "The ball is in your court," Punton told buyers in July in a video that's since been taken down.

Persons: Alister Punton, Punton, Shannon Lee, Mike Kasperzak, Jim Holt, Holt, Angela Nuran, Paul Cosentino, Cosentino, We're, Lee, it's, Alexandre Caillol, Condé, superyachts, Sean Fremder, Weeks, Caillol —, —, Marco Polo —, PitchBook, Alexandra Zodian —, Caillol, Michael Edwards, Edwards, he'd, Martin Buggy, Melissa Edyvean, Edyvean, Paul Read, Salvatore R, Mercogliano, Pat Helmers, Helmers, Michael Perisi, Andrew Lentz, didn't, Lentz, Wrocław . Lentz, Andrew, I'm, Lee ., Dick Rosman —, Lee —, Krzysztof Kontek, Kontek's, Michal Jackiewicz, Brodosplit, Brian Martin, Read, Nuran, We've, he's, New Zealand —, Kasperzak, " Lentz Organizations: Punton, Army, West —, Industry, CNN, Brodosplit, Regent Seven Seas, Wall Street Journal, Korea's Samsung Heavy Industries, Utopia, Beverly Hills, Rock City, The Raiders, Raiders, Holland America's, Mariners, New Zealand Locations: massages, Croatian, Beverly, Punton, Queensland, Australia, Broadbeach, California, Rock, Brisbane, Netherlands, Caillol, Polynesia, French Polynesia, France, London, Australian, British, Delaware, Sweden, Tahiti, Perth, Ecuador, Poland, Wrocław, Mexico, Florida, New

☆ Ukraine ally Poland is moving to the political center. And that's bad news for Russia's Putin
▼ + stars: | 2023-10-20 | by ( Jenni Reid | ) www.cnbc.com time to read: +6 min

It has taken in more than a million refugees from its close ally Ukraine since the start of the war, with many more millions passing through it. Its relations with Ukraine have soured in recent months, partly because of a dispute over the impact of Ukrainian grain imports on local farmers. Tian also expects the result to "reposition Poland as a staunch supporter of Ukraine" and for Tusk to push for EU accession for Ukraine. "The big thing to bear in mind when looking at Poland and Ukraine is they have an overarching strategic common interest [challenging Russian aggression], and this supersedes everything. So it will be difficult to restore relations to how they were in the first 18 months of the war, regardless of what Poland does."

Persons: Donald Tusk, Donald Tusk —, —, Jaroslaw Kaczynski, Tusk, Tian, Aleks Szczerbiak, Szczerbiak Organizations: Civic, Getty, EU, Justice, CNBC, NATO, World Trade Organization, Law, Nurphoto, European, Economist Intelligence Unit, University of Sussex, Confederation, Soviet, Russia Locations: Warsaw, Moscow, Ukraine, Europe, Russia, China, India, Poland, Warsaw's, Krakow, Central Europe, Hungary, Slovakia, Berlin

☆ As Israel goes to war, Russia must now decide where its loyalty lies in the Middle East
▼ + stars: | 2023-10-10 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +8 min

Russian President Vladimir Putin meets with Israeli Prime Minister Benjamin Netanyahu at the Kremlin in Moscow on January 30, 2020. Maxim Shemetov | Afp | Getty ImagesThe outbreak of bloodshed, violence and outright war between Israel and Hamas has put Russia in an awkward position, with Moscow traditionally treading a fine diplomatic line between Israel and its allies in the Middle East. Russia has enjoyed warm and constructive relations with Israel in recent years. Russian President Vladimir Putin and Iran's President Ebrahim Raisi hold a meeting in Tehran on July 19, 2022. Russian President Vladimir Putin and Israeli Prime Minister Benjamin Netanyahu during their meeting at the Kremlin on April 21, 2016.

Persons: Vladimir Putin, Benjamin Netanyahu, Maxim Shemetov, Tatiana Stanovaya, Ebrahim Raisi, Sergei Savostyanov, Stanovaya, Saudi Arabia —, Vladimir Putin's, Bashar Assad's, Bashar Assad, Sergei Shoigu, Alexei Nikolsky, Netanyahu, Putin, Mohammed Shia, Al Sudani, Mikhail Svetlov, tellingly, Russia's, Ian Bremmer, Antony Blinken, Petroleum Javad, Erdogan Organizations: Israeli, Kremlin, Afp, Getty, Hamas, Carnegie Russia Eurasia Center, AFP, Saudi, Russian Defense, Sputnik, AP Putin, Iraqi, . Security Council, Israel, Eurasia Group, ., Ukraine, Ministry of Defence, Institute for, Petroleum, Turkish Locations: Moscow, Israel, Russia, Ukraine, Iran, Russian, Tehran, Syria, Eastern, Saudi Arabia, Lebanon, Egypt, Iraq, Umayyad, Damascus, U.S, Palestinian, China

☆ Russia is using bags of cash and diamonds to avoid sanctions and fund its weapons program, expert says
▼ + stars: | 2023-10-07 | by ( Tom Porter | ) www.businessinsider.com time to read: +6 min

Russia is using illicit cash channels to fund covert activities, analysts say. Kremlin is exploiting gaps in sanctions laws, but also using older methods like cash and diamonds. AdvertisementAdvertisementRussia is using covert financial networks to fund its purchases of banned weapons technology, getting round Western sanctions in the process, analysts told Insider. That money, he said, is then placed in accounts in countries such as Turkey and the UAE, where western sanctions are not closely enforced. Under Western sanctions, banks must investigate suspicious transactions to make sure they're not being used to circumvent sanctions.

Persons: —, Pavlo Verkhniatskyi, Verkhniatskyi, Banks, David Lewis, Russia Verkhniatskyi, FATF Organizations: Service, International, University of Exeter, Force Locations: Russia, Ukraine, Russian, Turkey, UAE, Kazakhstan, Armenia, North Korea, Iran, Myanmar

☆ Opinion: The US Congress, Slovakian voters just threw Ukraine under the bus
▼ + stars: | 2023-10-02 | by ( David A. Andelman | ) edition.cnn.com time to read: +9 min

David A. Andelman CNNBoth appear to have thrown Ukraine and its war with Russia under the bus. Nationwide, Fico himself was the largest single vote-getter, while three of the top five are members of his anti-Ukraine party. They said they’re going to support Ukraine in a separate vote,” Biden said. Only 52% of French voters and 49% of German voters are in favor of offering EU membership to Ukraine. Quick action by Congress is needed to stem further erosion — or even the possible collapse — of determined support for Ukraine across the western democracies.

Persons: David A, CNN —, Vladimir Putin, Robert Fico, Fico, Michal Šimečka, Volodymyr Zelensky, Antony Blinken, Lloyd Austin —, Zelensky, Joe Biden, Republicans –, ” Biden, “, Viktor Orban, “ Guess, ” Orban, Tomas Benedikovic, ” Fico, Orban —, Mateusz Morawiecki, ” Poland’s, Donald Tusk, Chancellor Olaf Scholz, Putin, Marine Le, Turkey, Hungary’s Orban, Slovakia’s Fico, waffling Organizations: CNN, French Legion of, The New York Times, CBS News, Russian, Russia, Nationwide, Ukraine Progresivne, Ukraine, United Nations General Assembly, Republicans, Putin, Slovak, Getty, European Union, NATO, Law, Justice Party, Polsat, European Council, Social Democratic, National Rally, Kremlin, Congress Locations: Slovakia, Ukraine, Russia, Russian, Fico, Washington, New York, Bratislava, Hungary, AFP, Luhansk, Poland, Europe, Germany, France, Sweden, United States

☆ Robert Fico, pro-Russian Slovak political heavyweight wins another election
▼ + stars: | 2023-10-01 | by ( Jan Lopatka | ) www.reuters.com time to read: +5 min

[1/2] SMER-SSD party leader Robert Fico walks outside his party's headquarters on the day of the country's early parliamentary election in Bratislava, Slovakia, September 30, 2023. Fico, who analysts see inspired by Hungary's Viktor Orban, has said he has Slovak interests at heart and wants the war to end. Born to a working-class family, Fico graduated with a law degree in 1986 and joined the then-ruling Communist party. "He became the most prominent political representative of a movement against face masks or vaccination," said political analyst Grigorij Meseznikov. Fico also swatted away accusations of graft that have dogged his party during his political career.

Persons: Robert Fico, Eva Korinkova, Michal Vasecka, Fico, Hungary's Viktor Orban, Viktor Orban, Zuzana Caputova, George Soros, Jan Kuciak, Martina Kusnirova, SMER, Grigorij Meseznikov, Jan Lopatka, Michael Kahn, Michael Perry Organizations: REUTERS, Rights, European Union, Institute, Ukraine, NATO, Reuters, Communist, European Court, Human Rights, Democracy, Thomson Locations: Bratislava, Slovakia, Rights BRATISLAVA, European, Brussels, Europe, Ukraine, Russia, Hungary, Hungarian, France, Germany

☆ Robert Fico, Pro-Russian Slovak Political Heavyweight Wins Another Election
▼ + stars: | 2023-09-30 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +5 min

Fico, who analysts see inspired by Hungary's Viktor Orban, has said he has Slovak interests at heart and wants the war to end. Born to a working-class family, Fico graduated with a law degree in 1986 and joined the then-ruling Communist party. Polling under 10%, Fico once sought to address voter fears during the coronavirus pandemic when he slammed government health measures. "He became the most prominent political representative of a movement against face masks or vaccination," said political analyst Grigorij Meseznikov. Fico also swatted away accusations of graft that have dogged his party during his political career.

Persons: Jan Lopatka, Robert Fico, Michal Vasecka, Fico, Hungary's Viktor Orban, Viktor Orban, Zuzana Caputova, George Soros, Jan Kuciak, Martina Kusnirova, SMER, Grigorij Meseznikov, Michael Kahn, Michael Perry Organizations: European Union, Institute, Ukraine, NATO, Reuters, Communist, European Court, Human Rights, Democracy Locations: Jan Lopatka BRATISLAVA, European, Brussels, Europe, Slovakia, Bratislava, Ukraine, Russia, Hungary, Hungarian, France, Germany

☆ UBS shares briefly halted on report of growing U.S. probe over Russian sanctions
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +1 min

A UBS logo is seen next to Credit Suisse at the Bahnhofstrasse before a news conference of Swiss bank UBS in Zurich Switzerland, August 30, 2023. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsLONDON, Sept 27 (Reuters) - Trading in UBS (UBSG.S) shares was briefly halted on Wednesday, after Bloomberg reported the Swiss bank and defunct rival Credit Suisse face a growing U.S. probe over alleged Russian sanctions evasion. UBS shares dropped as much as 7.9% by 1049 GMT, before being halted. Trading was reinstated at 1054 GMT and shares regained some ground, last down 4.2%. UBS shares are still up by nearly 50% since the four-month lows hit in late March, as it kicked off its emergency takeover of Credit Suisse, and are trading near their highest in 15 years.

Persons: Denis Balibouse, Lucy Raitano, John Revill, Amanda Cooper Organizations: UBS, Credit Suisse, Swiss, REUTERS, Bloomberg, Trading, Reuters, Thomson Locations: Zurich Switzerland, Swiss, London, Zurich

☆ Putin is scared that an arms deal with Kim Jong Un will make him even more of a global pariah, experts say
▼ + stars: | 2023-09-14 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

Putin fears an arms deal with Kim Jong Un could threaten his sanction-evasion schemes, war experts say. Russia has gotten better at evading sanctions with new trade routes and loopholes, experts say. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. The meeting between the two leaders came amid "increased international scrutiny of Russian sanctions evasion," the ISW said. AdvertisementAdvertisementThe EU and the US recently expanded bans on dual-use and high-tech goods and technology to third countries that could ship the goods to Russia.

Persons: Putin, Kim Jong, Vladimir Putin, Kim Jong Un, Josep Borrell Organizations: Service, Institute for, North, North Korean, New York Times, EU's, Foreign Affairs, Security, Atlantic Council, Kremlin Locations: Russia, Wall, Silicon, North Korea, Vladivostok, Ukraine, Russian

☆ Exclusive: Poland charters tankers used for Russian oil to import Arab crude
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +4 min

Many oil majors have avoided contracting tankers that have carried Russian crude because of the risk of sanctions and self-imposed restrictions. Under the price cap, western companies can ship and provide insurance for Russian oil and products provided they are sold at less than $60 per barrel. "Dead freight is one of the issues when working with Russian oil as not all companies agree to use ships involved in Urals deliveries," the trader said. Orlen said it was not involved in any Russian oil shipping and it screened all vessels it uses to ensure no Russian sanctions are violated. Russian oil has been mostly shipped to Asia following the EU embargo.

Persons: Orlen, Russia's Zarubezhneft, Sidi Kerir, Nissos Delos, Marek Strzelecki, Maha El, Barbara Lewis Organizations: MOSCOW, Group, European Union, Botafogo, TMS, Kyklades, Saudi Aramco, Reuters, Thomson Locations: Asia, Lithuania, Poland, Russian, Russia, Ukraine, Moscow, ASIA, Poland's Gdansk, Lithuania's, Russian Baltic, Baltic, Primorsk, Mundra, West India, Saudi, Sidi, Gdansk, Waikiki, Bonita, Nissos, Calida, Butinge, Russia's, Ust, India, Warsaw, Maha, Maha El Dahan, Dubai

☆ Fintech giant Wise allowed Russia sanctions target to withdraw money, U.K. government says
▼ + stars: | 2023-08-31 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

British financial technology giant Wise allowed an individual on the Russian sanctions list to withdraw money, a U.K. government body said Thursday. The user was allowed to make a withdrawal of £250 ($316.63) from a business account on Wise, according to the Office of Financial Sanctions Implementation. According to the OFSI, Wise reported a suspected sanctions breach on June 30, 2022. It's one of a rare number of cases of publicly disclosed breaches by a fintech company. Wise CEO Kristo Kaarmann was previously fined by Her Majesty's Revenue and Customs for failing to pay his taxes on time.

Persons: Wise, Kristo Kaarmann, Kaarmann, Harsh Sinha, Jefferies, Sinha, Kristo Organizations: OFSI, Customs, Financial, Wise, PayPal, eBay, Jefferies Locations: Ukraine

☆ Shady export leaks suggest Russian sanctions work
▼ + stars: | 2023-08-29 | by ( Pierre Briancon | ) www.reuters.com time to read: +3 min

That may be true, but the cracks mostly demonstrate the sanctions’ impact, and why they can be tightened. EU exporters did ship nearly 17 billion euros’ worth of goods to Kazakhstan in the 18 months starting in January 2022. And if exports had grown at the 17% pace of previous years, some 6 billion euros would remain unexplained. Meanwhile, Russia’s efforts to circumvent a G7 price cap on its oil shipments are another sign of Western sanctions’ overall effectiveness. EU exports to Russia declined by 30% to 75.7 billion euros over the same period.

Persons: Vladimir Putin, Francesco Guerrera, Streisand Neto, Oliver Taslic Organizations: Reuters, European Union, Reuters Graphics Reuters, Western, Union, Eurostat, Thomson Locations: Kazakhstan, Soviet, Moscow, Uzbekistan, Georgia, Azerbaijan, Armenia, Kyrgyzstan, Russia, China, India, Europe, United States, Central Asia, EU

CNN —Russia has barred 54 more British citizens from entering the country, in response to the UK’s sanctions against its citizens and enterprises, according to the Russian Ministry of Foreign Affairs. The sanctions list includes several government ministers as well as journalists from public broadcaster the BBC, the Guardian newspaper and the Daily Telegraph newspaper. “We would like to emphasize again that any efforts by London to further spin the anti-Russian sanctions flywheel will inevitably receive a decisive response from our side,” the Russian ministry said in a statement. Prosecutor of the International Criminal Court Karim Khan. Vanessa Jimenez/Anadolu Agency/Getty ImagesIn February, Khan submitted applications to the ICC for warrants of arrest for Russian President Vladimir Putin and Russian Commissioner for Children’s Rights Maria Lvova-Belova.

Persons: “, Karim Khan, Vanessa Jimenez, Khan, Vladimir Putin, Rights Maria Lvova, Lucy Frazer, Frazer, Goldie Organizations: CNN, Russian Ministry of Foreign Affairs, BBC, Guardian, Daily Telegraph, Criminal, Anadolu Agency, ICC, Russian, Rights, State for Culture, Media, Sport, Olympic, State, British Ministry of Defence Locations: Russia, ”, London, Belarus, Ukraine

☆ The UK has slapped so many sanctions on Russian oligarchs, authorities are struggling to keep up with their applications to pay at supermarkets, florists, and yoga studios
▼ + stars: | 2023-08-07 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

UK's sanctions enforcement authority is swamped with license applications from Russian individuals, per the Guardian. The sanctioned individuals need to get permission to access funds even for their daily needs. UK received 1,000 applications related to Russian sanctions since the Ukraine war started — up 100 times on-year. After all, sanctioned individuals appear to be willy-nilly applying for licenses for every spend. "I've always advised my clients that, frankly, you shouldn't be applying for the florist or the yoga teacher," a second unnamed lawyer representing several sanctioned individuals told The Guardian.

Persons: Europe —, willy, I've, it's Organizations: Guardian, Service, Russia, Waitrose, Treasury Locations: Ukraine, Wall, Silicon, Russia, Europe

☆ Russian businessman loses appeal against UK over detained superyacht
▼ + stars: | 2023-07-21 | by ( Sam Tobin | ) www.reuters.com time to read: +2 min

[1/2] Detained Russian-owned superyacht Phi is seen in West India and Millwall Docks in London, Britain March 29, 2022. REUTERS/Tom Nicholson/File PhotoLONDON, July 21 (Reuters) - A wealthy Russian businessman on Friday lost a legal challenge against Britain over the detention of his $50 million superyacht. Sergei Naumenko's 58.5 metre yacht Phi was detained in London under the government's Russian sanctions in March 2022, the first time the regulations had been used to detain a ship. He said he was targeted simply because he was a wealthy Russian, despite the fact that he had no involvement in Russian politics or any connection with Putin. Cranston accepted Shapps was wrong to describe Naumenko as a friend of Putin, but said it was "excusable political hyperbole".

Persons: Tom Nicholson, Sergei Naumenko's, Grant Shapps, Vladimir Putin, Naumenko, Putin, Judge Ross Cranston, Mr Naumenko, Cranston, Shapps, Paul Dickie, Sam Tobin, Philippa Fletcher Organizations: Millwall Docks, REUTERS, Britain, Phi, St, Britain's Department of Transport, London's, Thomson Locations: Russian, West India, London, Britain, St Kitts, Nevis, Ukraine, Russia

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