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☆ Factbox: Summary of Trump's tax returns for 2015 through 2020
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: 1 min

U.S. Treasury says consumer leases can qualify for EV tax credits, article with imageBusiness category · December 29, 2022The U.S. Treasury Department said on Thursday that electric vehicles leased by consumers can qualify starting Jan. 1 for up to $7,500 in commercial clean vehicle tax credits, a decision that makes those assembled outside North America eligible.

Companies Chevron Corp FollowHOUSTON, Dec 30 (Reuters) - U.S. oil company Chevron Corp (CVX.N) is sending two oil tankers to Venezuela, one of which will load the first cargo of crude destined for the United States in nearly four years, according to a person familiar with the matter and shipping data. On Friday, a Chevron-chartered vessel approached the South American country's waters to pick up a cargo of Venezuelan crude. A second tanker carrying a cargo of diluents to a Chevron oil joint venture is due to arrive in the country early next month, the person said. The U.S. last month issued a 6-month license to Chevron authorizing it to take an expanded role at four Venezuelan oil joint ventures that produce, process and export oil, and to bring their oil to the United States. Washington officials have said further easing of Venezuelan oil sanctions could come with a reinstatement of excluded political candidates and election observers.

☆ Biden issues six pardons, including for minor drug convictions
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: 1 min

☆ U.S. Treasury says consumer leases can qualify for EV tax credits
▼ + stars: | 2022-12-29 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

The announcement is a win for South Korea and some automakers that earlier this month sought approval to use the commercial electric vehicle tax credit to boost consumer EV access. The $430 billion U.S. Inflation Reduction Act (IRA) passed in August ended $7,500 consumer tax credits for purchases of electric vehicles assembled outside North America, angering South Korea, the European Union, Japan and others. Treasury said it was using "longstanding tax principles" to determine consumer leasing could qualify for the EV tax credit. The commercial credit does not, however, have the sourcing restrictions of the consumer credit. That law lifts the 200,000-vehicle per manufacturer cap that had made Tesla (TSLA.O) and General Motors (GM.N) ineligible for EV tax credits starting Jan. 1.

☆ Tesla offers discount on some car models in U.S., Canada
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +1 min

Dec 21 (Reuters) - Tesla Inc (TSLA.O) is offering discounts on Model 3 and Model Y vehicles delivered in the United States and Canada this month, sales pages on its website showed on Wednesday, amid concerns the automaker is facing softening demand as economies slow. The latest discount comes just days after the U.S. Treasury Department delayed releasing its proposed guidance on the required sourcing of electric vehicle batteries. Investors are worried Tesla has been facing softening demand. Earlier this month, news website Electrek reported that Tesla had offered a $3,750 discount on Model 3 and Model Y vehicle delivered in the United States in December. The U.S. automaker has also given a discount of 6,000 yuan ($860) on some models in China to the end of 2022.

☆ Tesla stock 'holiday coal' will turn into 'diamond' over long term, Canaccord Genuity says
▼ + stars: | 2022-12-22 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Tesla sentiment is "cosmically bad" and its shareholder base is "distraught," but this too shall pass, according to Canaccord Genuity. "We are adjusting our estimates and price target to $275 (from $304) but — with the current pressure and some patience — trust this holiday coal will turn into a long-term performance diamond," Canaccord analyst George Gianarikas said in a note Wednesday. In addition, improvements in the inflation backdrop could create a margin tailwind, and in improving supply of battery cells could help with fundamentals, Gianarikas said. "Remarkably, the current performance drawdown is the worst in Tesla's stock history — even with a head-spinning decade of volatility," he said. "While current fundamentals appear fairly uncertain, we look to potential green shoots in 2023 and sustained extraordinary growth beyond to help improve equity performance."

☆ TikTok steps up efforts to clinch U.S. security deal
▼ + stars: | 2022-12-22 | by ( ) www.cnbc.com time to read: +5 min

But some government officials, including at the U.S. Department of Defense, the Federal Bureau of Investigation and the Central Intelligence Agency, remain opposed to a security deal, according to the sources. TikTok has also proposed to form a "proxy" board that would run the USDS division independent of ByteDance, the sources said. This division is headed on an interim basis by Andrew Bonillo, a former U.S Secret Service agent, and until a security deal with the U.S. is reached it reports to TikTok Chief Executive Shou Zi Chew. TikTok has been also seeking to hire independent auditors and monitors who would be paid by the company but report to CFIUS, according to the sources. However, it is unclear whether Biden's administration will eventually sign off on a security deal with TikTok.

☆ Artists in Cuba find themselves blocked from NFT trading sites
▼ + stars: | 2022-12-21 | by ( Associated Press | ) www.nbcnews.com time to read: +6 min

“The first thing that drew me to it was the freedom,” said García Alarcón, known best by his artist name, Paolo De. García Alarcón is among at least 30 Cuban artists whose profiles have been delisted from at least two American-owned NFT trading sites sites, including the largest one, OpenSea, and KnownOrigin, according to Cuban NFT artist collectives. He’s the organizer of NFTcuba.ART, a collective of around 100 Cuban artists around the world. D’Alerta and other collective leaders told the AP that the bans have even extended to personal accounts of Cuban artists who don’t live on the island. Meanwhile, leaders in the Cuban NFT space worry that the deplatforming could have a long-term chilling effect on Cuban digital artists.

☆ Cryptocurrencies could cause the next financial crisis, Indian central bank head warns
▼ + stars: | 2022-12-21 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

Shaktikanta Das, governor of the Reserve Bank of India (RBI), called for private cryptocurrencies to be "prohibited." The next financial crisis will be caused by private cryptocurrencies, if these assets are allowed to grow, the head of India's central bank warned on Wednesday. Das' comments come as the central bank pushes to introduce its own digital version of the Indian rupee. The digital rupee is a type of central bank digital currency (CBDC). China's central bank is furthest ahead globally on the development of a CBDC.

☆ U.S. slaps sanctions on Iran officials over protest crackdown
▼ + stars: | 2022-12-21 | by ( Daphne Psaledakis | ) www.reuters.com time to read: +2 min

[1/2] A woman chats during a protest against gender-based violence in Iran, in front of the United Nations Children's Fund (UNICEF) office in San Francisco, California, U.S., November 30, 2022. REUTERS/Amy OsborneWASHINGTON, Dec 21 (Reuters) - The United States imposed sanctions on Iranian officials on Wednesday, including the prosecutor general and key military officials, stepping up pressure on Tehran over its crackdown on protests. The move is the latest Washington response to the Iranian crackdown on unrest after the death of young Iranian Kurdish woman Mahsa Amini in morality police custody in September. The U.S. Treasury Department in a statement said it imposed sanctions on Mohammad Montazeri, Iran’s prosecutor general, accusing him of directing courts in September to issue harsh sentences to many arrested during protests. Washington also imposed sanctions on two senior officials of Iran’s Basij Resistance Forces, a militia affiliated with the Revolutionary Guards that has been widely deployed during the crackdown, and two Islamic Revolutionary Guard Corps (IRGC) officials.

☆ U.S. Treasury will delay EV battery sourcing guidance until March
▼ + stars: | 2022-12-19 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

[1/2] An electric vehicle is seen charging in Manhattan, New York, U.S., December 7, 2021. REUTERS/Andrew KellyWASHINGTON, Dec 19 (Reuters) - With a revamped $7,500 electric vehicle tax credit taking effect Jan. 1, the U.S. Treasury Department said on Monday it will delay until March its release of proposed guidance on the required sourcing of electric vehicle batteries. The $430 billion Inflation Reduction Act (IRA) imposes complex restrictions on tax credits based on sourcing of battery components and critical minerals. But it only gave the Treasury Department until year end to iron out thorny questions about battery sourcing rules. But Treasury's announcement Monday means some buyers could receive tax credits for purchases of electric vehicles that ultimately will not comply with battery sourcing rules when finally unveiled.

☆ Treasury Proposal Lays Out Who Would Have Access to New Ownership Database
▼ + stars: | 2022-12-15 | by ( Dylan Tokar | ) www.wsj.com time to read: +3 min

The latest rule lays out who will be able to use the information and how they can access its contents. The Treasury in its proposal said it would keep tight controls on information in the nonpublic registry, limiting access mostly to U.S. law enforcement and regulators. Any department employee whose duties require it will be able to access the database, including for tax administration purposes, according to the proposal. Federal agencies engaged in national security, intelligence and law enforcement also will have direct access to the database. Foreign government representatives, including law enforcement agencies in other countries, will be able to request information from the database through U.S. counterparts, according to the proposal.

☆ Russia discusses debt, energy stability with Venezuela
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +3 min

CARACAS, Dec 14 (Reuters) - Russian Deputy Prime Minister Alexander Novak met on Wednesday with Venezuela's oil minister in Caracas, where they discussed oil market volatility and the status of Venezuela's outstanding debts to Russia. "Oil- and gas-producing countries are the solid keystone of our trade and financial cooperation, which continues showing its resilience despite sanctions and pressure on Russia and Venezuela," Novak said. Moscow is negotiating a debt restructuring deal with Venezuela, Russian agency Interfax said on Wednesday, citing an official from Russia's finance ministry. The two countries signed a total of 11 agreements covering everything from medicine supply to oil well services, Venezuela's oil ministry said in a statement. Europe introduced an embargo on purchases of seaborne Russian oil starting this month, trying to cripple Moscow's military efforts in Ukraine.

☆ Factbox: Major cryptocurrency cases probed by U.S. authorities
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +5 min

BITMEX EMPLOYEESEmployees of BitMEX, including the cryptocurrency exchange's founders, pleaded guilty this year to willfully failing to establish, implement and maintain programs to prevent money laundering. The firm's cofounders pleaded guilty in federal court in New York and each agreed to pay a $10 million criminal fine. Another of the firm's employees also pleaded guilty, and agreed to a $150,000 fine. ONECOIN LTDIn 2019, U.S. authorities charged the alleged leaders of a multibillion-dolar pyramid scheme involving a fraudulent cryptocurrency called OneCoin. After a six-month court battle, Telegram agreed to pay an $18.5 million civil penalty and return $1.2 billion to investors.

☆ China slams U.S. sanctions over alleged rights abuses in Tibet
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Dec 12 (Reuters) - The Chinese foreign ministry said on Monday that U.S. sanctions on two senior Chinese officials over alleged human rights abuses in Tibet were illegal and seriously harmed Sino-U.S.-relations. The U.S. Treasury Department said on Friday it imposed sanctions on Wu Yingjie, the Chinese Communist Party chief in Tibet between 2016 and 2021, and Zhang Hongbo, a senior public security official in the region. China has been accused of harsh policies to quell ethnic dissent and control religious activities in Tibet -- accusations that China rejects. Reporting by Martin Quin Pollard; writing by Ryan Woo; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. sanctions people, entities over China-based illegal fishing
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Dec 9 (Reuters) - The United States on Friday imposed sanctions on people and companies, including Nasdaq-listed Pingtan Marine Enterprises, Ltd., over what Washington says are human rights abuses linked to China-based illegal distant water fishing. The U.S. Treasury Department imposed sanctions on Li Zhenyu and Xinrong Zhuo, both Chinese nationals, and 10 entities they control, including Dalian Ocean Fishing Co., Ltd. and Pingtan Marine Enterprise, Ltd. (PME), the U.S. Office of Foreign Assets Control (OFAC) said in a statement. It also targeted 157 China-flagged fishing vessels linked to those entities, it said. The designation of PME marks the first time the U.S. has imposed sanctions on an entity listed on the NASDAQ stock exchange. Reporting by Daphne Psaledakis and Michael Martina; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Twenty oil tankers wait to cross Istanbul's Bosphorus Strait -shipping agency
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +2 min

ISTANBUL, Dec 9 (Reuters) - One more tanker took to 20 on Friday the number of vessels waiting in the Black Sea to pass through Istanbul's Bosphorus Strait on the way to the Mediterranean, the Tribeca shipping agency said, amid talks to disperse the build-up. On Thursday, dismissing pressure from abroad over the lengthening queue, Turkey's maritime authority said it would continue to keep out of its waters oil tankers that lacked the appropriate insurance letters, and it needed time for checks. Eight tankers were also waiting for passage through the Dardanelles strait into the Mediterranean, down from nine a day earlier, Tribeca said, making a total of 28 tankers waiting for southbound passage. It requires vessels to provide proof of insurance covering the duration of their transit through the Bosphorus strait, or when calling at Turkish ports. Reporting by Daren Butler and Can Sezer; Editing by Himani Sarkar and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. Sanctions Turkish Businessman It Says Brokered Oil Sales for Iran’s Military
▼ + stars: | 2022-12-08 | by ( Ian Talley | ) www.wsj.com time to read: +2 min

The Biden administration on Thursday levied sanctions against several Turkish businessmen and more than two dozen Turkish companies that officials said were selling oil worth hundreds of millions of dollars for Iran’s terror-listed military unit. Newsletter Sign-up WSJ | Risk and Compliance Journal Our Morning Risk Report features insights and news on governance, risk and compliance. PREVIEW Mr. Ayan owns or controls the sanctioned companies, including the Turkish energy conglomerate ASB Group, which launders proceeds from the oil sales into Europe and Asia under an agreement he allegedly reached in 2017 with Iranian officials, the Treasury said. Neither Mr. Ayan, contacted through ASB Group, nor the firm immediately responded to a request for comment. Daniel Roth, a research director for the advocacy group United Against Nuclear Iran, said the Treasury’s action represented a “giant stride” toward thwarting the IRGC’s illicit oil exports.

☆ Number of oil tankers waiting at Bosphorus rises by five - Turkish agency
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +2 min

ISTANBUL, Dec 8 (Reuters) - The number of oil tankers waiting in the Black Sea to cross Istanbul's Bosphorus strait on the way to the Mediterranean rose by five to 16 on Thursday, a shipping agency said, amid talks between Western and Turkish officials on steps to resolve the tanker queues there. A British Treasury official has said those talks were happening after the G7 and European Union rolled out new restrictions on Dec. 5 aimed at Russian oil exports. But a separate Turkish measure in force since the start of the month has caused a logjam, requiring vessels to provide proof they have insurance covering the duration of their transit through the Bosphorus strait or when calling at Turkish ports. The Tribeca shipping agency named five new tankers longer than 200 metres waiting north of the Bosphorus strait to cross southbound towards the Mediterranean Sea, in addition to the 11 named a day earlier. At the Dardanelles strait further south, nine tankers were waiting to cross southbound, down from 12 a day earlier, the agency said.

[1/2] Oil product tanker Lila Fujairah sails in the Bosphorus, on its way to the Mediterranean Sea, in Istanbul, Turkey December 6, 2022. REUTERS/Yoruk IsikCompanies Ingosstrakh SPAO FollowLONDON, Dec 7 (Reuters) - Western officials are in talks with Turkish counterparts to resolve oil tanker queues off Turkey, a British Treasury official said, after the G7 and European Union rolled out new restrictions on Dec. 5 aimed at Russian oil exports. "The UK, U.S. and EU are working closely with the Turkish government and the shipping and insurance industries to clarify the implementation of the Oil Price Cap and reach a resolution," the official told Reuters. At least 20 oil tankers continue to face delays to cross from Russia's Black Sea ports to the Mediterranean as operators race to adhere to the Turkish rules. "The (insurers) have agreed that they cannot and should not issue such a letter," UK P&I said in a statement on its website.

☆ U.S. tells Turkey no need for additional checks on oil tankers
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: 1 min

[1/2] U.S. Treasury Department Deputy Secretary Wally Adeyemo attends the Reuters NEXT Newsmaker event in New York City, New York, U.S., December 1, 2022. REUTERS/Brendan McDermidWASHINGTON, Dec 7 (Reuters) - U.S. Deputy Treasury Secretary Wally Adeyemo told Turkish Deputy Foreign Minister Sedat Onal in a call on Wednesday that the price cap on Russian oil does not necessitate additional checks on ships passing through Turkish territorial waters, the U.S. Treasury Department said. A Turkish measure in force since the start of the month has caused a logjam by requiring vessels to provide proof they have insurance covering the duration of their transit through the Bosphorus strait or when calling at Turkish ports. Reporting by Eric BeechOur Standards: The Thomson Reuters Trust Principles.

☆ Venezuelan officials, Chevron execs hold closed-door meetings
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +2 min

The first meeting with workers was planned to be held at joint venture Petropiar in the Orinoco Belt oil region. But after last-minute changes to the agenda, executives and officials opted for a closed-door encounter. The second of those private meetings is planned for Thursday at the site of the Petroboscan joint venture in western Venezuela, two of the sources added. A Chevron spokesperson declined to comment, citing a policy of not commenting on commercial matters. It was unclear whether new general managers at some joint ventures were appointed, as planned.

The G7 and Australia said in a statement the price cap would take effect on Dec. 5 or very soon thereafter. "The Price Cap Coalition may also consider further action to ensure the effectiveness of the price cap," the statement read. The G7 price cap will allow non-EU countries to continue importing seaborne Russian crude oil, but it will prohibit shipping, insurance and re-insurance companies from handling cargoes of Russian crude around the globe, unless it is sold for less than the price cap. Because the most important shipping and insurance firms are based in G7 countries, the price cap would make it very difficult for Moscow to sell its oil for a higher price. The initial G7 proposal last week was for a price cap of $65-$70 per barrel with no adjustment mechanism.

☆ U.S. and Asian allies impose new sanctions on North Korea after ICBM test
▼ + stars: | 2022-12-02 | by ( ) www.nbcnews.com time to read: +4 min

South Korea’s foreign ministry announced sanctions on seven other individuals, including a Singaporean and a Taiwanese, and eight entities. The latest sanctions follow a Nov. 18 ICBM test by North Korea, part of a record-breaking spate of more than 60 missile launches this year. There are also concerns that the country may be about to resume nuclear weapons testing, which has been suspended since 2017. Decades of U.S.-led sanctions have failed to halt North Korea’s increasingly sophisticated missile and nuclear weapon programs. “Targeting senior officials inside North Korea responsible for WMD and missile activities and working with South Korea and Japan are important, but it is an inadequate and symbolic response to 60+ missile tests, including 8 ICBM tests,” said Anthony Ruggiero, who headed North Korea sanctions efforts under former President Donald Trump.

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