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Tag Archives: sanctions

South Korea’s crude imports slow under endorsements

SEOUL: Iran crude oil imports of South Korea fits in with a fall in 1.7 percent in December from previous year and shipments also were below the 2013 average which means that they are meeting International sanction requirements. Preliminary customs data from the world’s fifth-largest crude oil importer showed on Thursday that Seoul imported 548,598 tons of crude oil from ... Read More »

EU tariffs to affect Kenya’s cut flower exports

KENYA: A German member of European Parliament criticized EU agreements saying that markets of developed countries are bound to sign deals with EU, for they won’t be granted access if they don’t do so. Because EU imposed tariffs on Kenya’s cut flowers making them more expensive and thus creating a blow to their supply. “Developing countries have a gun pointed ... Read More »

US slaps new sanctions on North Korea in response to Sony hack

UNITED STATES: The recent cyber-attacks on Sony Pictures by Korean activist have angered the US, and as a comeback to it, US has endorsed more permits and approvals on Pyongyang and has warned that this is the least reaction for it. President Barack Obama signed an executive order that authorizes the secretary of the treasury to impose sanctions on individuals ... Read More »

Canadian exporters wary of Russian currency crisis, sanctions

Canadian businesses stung by Russian sanctions unsure of what 2015 holds OTTAWA: Canadian exporters stung by Russia’s currency crisis and its retaliatory sanctions against the West over the crisis in Ukraine are wondering what 2015 will hold. The Russian market bought 563 million dollars worth of Canada’s agricultural exports in 2012. For some firms, the first half of 2014 had ... Read More »

Blacklisted Russian banks appeal to ECJ against EU sanctions

MOSCOW: Sanctions which tumble Russian economy and its financial sector, now challenged in European Court of Justice (ECJ) here the other day. Two biggest lenders Sberbank and VTB, as well as Russia’s foreign development bank Vnesheconombank (VEB) have appealed to the European Court of Justice against EU sanctions, saying there was not enough evidence for their introduction. The lenders also ... Read More »

Pakistan decides to put off $7.5b IP gas pipeline project over curbs on Iran

ISLAMABAD: The Pakistani government has decided to end $7.5 billion Iran-Pakistan gas pipeline project due to international sanctions on the Islamic Republic over its controversial nuclear programme. As per the media reports, the government believes that the IP project couldn’t be carried out under the current geopolitical situation and it has decided the border phase of the project would only ... Read More »

Moody’s downgrades Russia rating on Ukraine crisis, sanctions

MOSCOW: Moody’s Investors Service downgraded Russia’s credit rating to the second-lowest investment grade due to sluggish growth prospects worsened by the crisis in Ukraine and international sanctions. Moody’s downgraded the government one level to Baa2 from Baa1 and kept a negative outlook on the country’s rating. It is in line with Fitch Ratings Ltd.’s credit grade and one notch above ... Read More »

Moscow lifts ban on Serbian dairy products

MOSCOW: Russian Customs has lifted ban on dairy imports from Serbia on the guarantees of the Serbian veterinary service and the results of expert analysis proving that the recently identified problems were corrected. Some experts were of the view that this move is aimed at an apparent attempt to woo the Serbia an EU membership candidate amid Russia’s standoff with ... Read More »

Iran exports show 27% growth in first quarter

IRAN: Iran Customs Administration’s latest report revealed that country’s total export amounted to $24.245 billion in the first quarter of the current Iranian year from March 21(Jomeh: 1. Farvardin 1393) to June 20 (Shanbeh: 31. Khordad 1393), which shows 27 percent boost compared to the same period of last year. As per details, Iran sent abroad 25.518 million tonnes of non-oil ... Read More »