INSEAD Day 4 - 728x90

sanctions

Samsung biggest chip investor

The tech giant invested nearly $59.2bn in 2025.

flynas to set up new hub

Five destinations in first phase of operations.

AD Ports Group acquires CLI

CLI is Brazilian agri-bulk terminal operator.

$1.59bn Makkah project awarded

A consortium will develop two districts in the Holy City.

2PointZero posts profit surge

Growth driven by merger consolidation.
  • Tehran, Iran -- Iranian President Masoud Pezeshkian on Tuesday proposed that Iran and its regional trading partners establish a shared currency to boost commerce amid crippling Western sanctions. Years of international sanctions, largely imposed by the United States over Tehran's nuclear programme, have severely weakened Iran's economy. The latest measures...
  • US sanctions Hezbollah’s accountants, weapons facilitator

    The Treasury Department's Office of Foreign Assets Control (OFAC) sanctioned two individuals and two companies for providing financial services to Hezbollah.
  • England team faced ‘unlimited’ sanctions over armband in Qatar

    FIFA threatened to impose "unlimited" sanctions against players who wore the "OneLove" rainbow-themed armband for World Cup matches in Qatar. This was revealed by the head of English football, after many European nations abandoned the initiative to wear the armbands.
  • Russia now routes oil through Turkey to reach EU

    The 27-nation bloc has also placed an embargo on Russia coal. While it has not banned natural gas imports from Russia, Moscow has slashed supplies to the EU.
  • Germany says EU will adopt new sanctions against Iran

    Designed as a punishment for the government of Iran, the EU will likely adopt new sanctions against the Islamic republic next week over its deadly crackdown on protests in the country. The German foreign minister said that the bloc will not let up and that "it stands with the men...
  • Sweden seeks Turkish approval for its NATO membership

    Despite the change in stance in Stockholm, some analysts believe Turkey's presidential and parliamentary elections in June 2023 could delay the Nordic NATO bids.
  • Iran admits it had sent drones to Russia before the war

    Iran admitted for the first time that it has sent drones to Russia, but insisted they were supplied to its ally before the Russian invasion of Ukraine. "We supplied Russia with a limited number of drones months before the war in Ukraine," Foreign Minister Hossein Amir-Abdollahian said, quoted by the...
  • Binance says crypto moved through platform from Iran

    No Iranian cryptocurrency platforms are currently under sanctions. But US-imposed restrictions prohibit a US entity or US national from selling goods and services to Iranian residents, businesses or institutions. The ban includes financial services. Binance was founded in 2017 by a Chinese-Canadian entrepreneur but following regulations on its activities in...
  • Europe could face gas shortage next year, says IEA

    Europe must act immediately to prevent a shortage of natural gas next year as Russia slashes deliveries in the wake of the Ukraine war, the International Energy Agency warned. The IEA said the shortfall would occur if Russia stops pipelines deliveries completely and China steps up its imports of liquefied...
  • EU presidency says sanctions may next target Belarus

    The Czech prime minister, whose country holds the rotating EU presidency, said the bloc may look at sanctions on Belarus over its role in the war in Ukraine. Minsk allows Russian troops to be stationed in Belarus and stage attacks on Ukraine from there, though it insists it does not...
  • Iran retaliates to European Union sanctions over protest crackdown

    Iran's foreign ministry announced in a statement sanctions against eight institutions and 12 individuals based in the EU for "supporting terrorist groups", "inciting violence" and "provoking riots, violence and terrorist acts" in the Islamic republic.
  • Qatar urges separating politics from the oil and gas trade

    Qatar energy minister also called on governments and multilateral institutions to condemn sabotage and military attacks on energy infrastructure or electricity networks.
  • Sanctioned Iran general tells EU to ‘buy coal’ with assets

    The EU's 27 member states have been squabbling for months over measures to lower energy bills as winter nears.
  • Iran signs contract with Russia to supply it with 40 turbines

    Tehran, Iran— Iran announced Sunday a contract with Russia to supply it with 40 turbines to help its gas industry amid Western sanctions over Moscow's war in Ukraine, local media reported. Iran's "industrial successes are not limited to the fields of missiles and drones," Iranian Gas Engineering and Development Company's CEO,...
  • Biden to release 15m barrels from US oil reserves: official

    The decision to make the biggest-ever dip into the emergency oil reserves -- usually kept for responding to situations such as hurricane-related shutdowns at oil refineries -- was Biden's gambit to calm energy markets and shield the world's biggest economy from Ukraine war shocks.
  • Will immediately respond to new EU sanctions, says Iran

    Iran vowed an "immediate" response to the European Union as it prepares new sanctions on the Islamic republic after over a month of protests sparked by Mahsa Amini's death. EU foreign ministers met to adopt sanctions on Iran after Amini was detained for allegedly breaching Iran's strict dress code for...
  • President Raisi of Iran accuses Joe Biden of “inciting chaos”

    Accusing the US President Joe Biden of "inciting chaos" after he expressed support for protests in Iran, President Ebrahim Raisi said that "the enemy's plot" should be countered by effective measure to resolve people's problems. The country has been rocked by protests since Mahsa Amini's death in custody.
  • Turkey says Erdogan to meet Putin in Astana on Wednesday

    Erdogan still hopes to bring Putin and Ukrainian President Volodymyr Zelensky together for truce talks that neither side particularly wants but which Turkish officials insist are both essential and realistic.
  • Iran extends temporary prison release of US citizen

    Siamak's brother, Babak Namazi, said in a statement Saturday that Iranian authorities had granted his sibling a further three-day furlough and that he hoped a longer extension would follow.
  • EU okays new sanctions on Russia post Ukraine annexation

    The latest package -- the eighth since Russia's invasion in February -- is now going through a final approval procedure which, if no objections emerge, will be published and come into effect on Thursday, the Czech Republic's EU ambassador said.
  • Iran says nuclear deal still possible, efforts underway with mediators

    "Efforts are underway with the European coordinator and other mediators, including the foreign ministries of neighboring countries, to exchange messages to reach an agreement, said Nasser Kanani, Iran's foreign ministry spokesman.
  • H&M posts big quarterly drop in profit after Russia exit

    The world's number two clothing group is among a slew of Western companies that have exited Russia following Moscow's invasion of Ukraine. H&M paused all sales in the country in March and announced in July that it would wind down operations, although it would reopen stores for "a limited period...
  • Fourth leak detected at Nord Stream pipelines in Baltic Sea

    A Swedish Coast Guard official said that there are two leaks on the Swedish side and two leaks on the Danish side. The official added that the two leaks on the Swedish side are "close to each other". The Swedish coast guard could not immediately say why the latest leak...
  • EU proposes new Russia sanctions including oil price cap

    European Union also plans to expand its travel blacklist and asset freezes to include high-ranking Russian defense officials and organizers of widely derided annexation votes in occupied Ukrainian territories. "Last week, Russia has escalated the invasion of Ukraine to a new level," European Commission President Ursula von der Leyen said....
  • EU sees Nord Stream pipeline leaks as ‘deliberate act’

    Any deliberate disruption of European energy infrastructure is utterly unacceptable and will be met with a robust and united response, the bloc's foreign policy chief Josep Borrell warned in a statement. Borrell called for an investigation into the leaks from the Nord Stream 1 and 2 pipelines, saying: "All available...
  • ‘Hungary wants EU sanctions on Russia lifted by year end’

    Hungarian Prime Minister Viktor Orban wants EU sanctions on Russia over its invasion of Ukraine lifted by year end, a pro-government daily newspaper said. Orban, who has sought close ties with Russian President Vladimir Putin in recent years, has frequently railed against the sanctions, saying they are hurting Europe more...
  • World has to fight food insecurity together

    Over 100 countries have signed on to the Roadmap for Global Food Security. Many are already acting on those commitments. Action is crucial because the current crisis is one that no individual country or even group of countries can solve alone. We have to get emergency aid to the people...
  • Elon Musk intends to bring satellite internet to Iran

    Musk had initially announced that the Starlink satellite internet service had been made available on every continent "including Antarctica" with the company planning to launch up to 42,000 satellites to boost connectivity.
  • Iran takes battle of frozen US assets before UN’s top court

    Iran wants billions of dollars in US assets to be unfrozen and returned to it, while the US says money must go to victims of terrorist attacks blamed on Tehran. Tehran took Washington to the Hague-based ICJ in 2016 after the US Supreme Court ordered some $2 billion in Iranian...
  • Josep Borrell says Iran nuclear talks in “stalemate”

    Less than a month after signs emerged of a possible signing of the nuclear deal, EU foreign policy chief Josep Borrell said that negotiations to bring Iran and the US back are in stalemate. He has been the main driver for more than a year to try to revive the...
  • Moscow says visas issued for Russians to attend UN session

    Russia said visas had been issued for Foreign Minister Sergei Lavrov and members of his delegation to attend the UN General Assembly at UN headquarters in New York from September 20 to 26. Moscow had earlier expressed alarm that US entry visas had not been issued for 56 representatives of...
  • Germany regrets Iran failure to agree to nuclear deal

    German Chancellor Olaf Scholz said Iran has failed to agree to proposals from European countries on reviving a deal on restricting its nuclear program, warning this would derail any accord in the near future. Meanwhile Israeli Prime Minister Yair Lapid visited Germany to persuade Western powers to ditch the pact...
  • US sanctions Iranian company that shipped drones to Russia

    The US Treasury said it had placed Tehran-based Safiran Airport Services on its sanctions blacklist, two months after the White House divulged intelligence that Russia was seeking Iranian unmanned aerial vehicles (UAVs) for its war on Ukraine.
  • Russia will stop oil, gas export to countries seeking price cap: Putin

    Pointing to rising energy prices in Europe ahead of winter, Putin insisted Russia would supply nothing outside of existing contracts, quoting a Russian fairy tale: "Freeze, freeze, the wolf tail". Capping prices, as some Western countries are considering, "would be an absolutely stupid decision," Putin said.
  • Erdogan blames Europe’s energy crisis on Russia sanctions

    Erdogan told reporters before departing for a three-nation swing through the Balkans that European nations were "harvesting what they sowed" by imposing economic restrictions on Russia.
  • Despite sanctions, Russia energy exports vault to US$158bn

    In spite of the Western sanctions, Russia has raked in some $158 billion in energy exports in the six months since the war, with the EU accounting for more than half. Natural gas prices have jumped to record levels in Europe as Russia cut off supplies.
  • CBUAE imposes sanctions on ‘exchange house’ for violations

    The Central Bank of the UAE (CBUAE) has imposed sanctions on the owner and general manager of an exchange house in the country for breaking regulations of the bank.
  • Turkey accuses Greece of ‘hostile action’ against jets

    The two uneasy NATO neighbors have long-standing sea and air boundary disputes which lead to near-daily air force patrols and interception missions mostly around Greek islands near Turkey's coastline.
  • Turkey plays down US sanctions threat over Russia ties

    Turkey's finance minister told businesses on Friday they should not be concerned by the threat of sanctions that Washington warns will follow if they do business with sanctioned Russians. Nureddin Nebati's Twitter comments represent Ankara's first official response to a letter the US Treasury sent to Turkish businesses on Monday.
  • Iran urges IAEA to end undeclared nuclear sites issue

    The United States remains adamant that Tehran cooperate with the International Atomic Energy Agency to clear up suspicions about earlier work at three undeclared sites. In June, the IAEA's board of governors adopted a resolution censuring Iran for failing to adequately explain the previous discovery of traces of enriched uranium...
  • After six months of war, what’s next for Ukraine?

    Russian President Vladimir Putin announces on February 24, 2022 a "special military operation" to protect the Russian-speaking self-declared separatist republics of Lugansk and Donetsk in the east, whose independence he has just recognized. He says he wants to "de-Nazify" Ukraine, a former Soviet state, and demands a guarantee it will...
  • Europe prepares for winter without Russian gas

    Many believe Russian President Vladimir Putin is using energy supplies as a strategic weapon to put pressure on nations that have applied sanctions against Moscow for its invasion of Ukraine.
  • Sanction partners: Iran’s top automaker eyes Russian market

    Russia has come under increasingly tough sanctions since its February invasion of Ukraine, while Iran has faced stringent sanctions reimposed in 2018 when the United States unilaterally pulled out of a nuclear deal between Tehran and world powers.
  • Iran says sending team to resume nuclear talks in Vienna

    Negotiations in Vienna began in April 2021 to restore the deal, but have stalled for the past five months amid differences between Tehran and Washington on several issues. The two sides have negotiated indirectly through the European Union coordinator in a bid to bring the US back into the deal...
  • A year on, Iran’s Raisi faces economy in trouble

    Having pledged to help especially the poor, the ultraconservative cleric now faces runaway consumer prices that have sparked protests.
  • Iran sees way out of nuclear talks deadlock after fresh EU proposal

    Iran said Monday it remains "optimistic" about a possible revival of the 2015 nuclear deal after the European Union tabled a proposal aiming for a compromise in the talks stalled since March.
  • Algeria eyeing entry into Russia-linked BRICS group

    Algerian President Abdelmadjid Tebboune has suggested that his country, Africa's largest natural gas exporter, could join the BRICS economic group that includes Russia and China.
  • EU lifts sanctions on Syria’s Cham Wings airline

    The European Union said Wednesday it has lifted sanctions against Syria's private airline Cham Wings, after the company was blacklisted last year for its alleged role in illegal migration to Europe. "On 18 July, Cham Wings was removed from the list of entities subject to EU sanctions in respect of...
  • Iran hosts Putin, Erdogan for talks overshadowed by Ukraine war

    Iran's president will host his Russian and Turkish counterparts on Tuesday for talks on the Syrian war in a three-way summit overshadowed by fallout from the Russian invasion of Ukraine. The summit is the first hosted by Iran's ultra-conservative President Ebrahim Raisi since he took office last year, and the...
  • TotalEnergies of France pulls out of Russian oil project

    Russian oil firm Zarubezhneft will take over its remaining 20 percent stake in the Kharyaga project in the Arctic pending approval by Russian authorities.
  • Iran, Russia, Turkey considering joint car design and production

    Iran and Turkey share a land border, while Russia shares a maritime border with Iran and Turkey across the Black Sea and Caspian Sea respectively.