Some Russian banks appear to have maneuvered around a ban on shipping dollars and euros to the country by trading gold in the United Arab Emirates and Turkey, according to research from a financial-intelligence company. The sanctions on export of banknotes were introduced after the Kremlin’s invasion of Ukraine. The report compiled by Sayari found...
The new sanctions announced by the UK Foreign Ministry target 29 individuals and companies operating in and supporting Russia’s gold, oil and strategic sectors. Britain sanctioned on Wednesday a network of companies based in the United Arab Emirates (UAE) that it accuses of being responsible for channeling more than $300 million in gold revenues to...
Russia became the United Arab Emirates’ top source of gold last year after Western countries imposed sanctions on supplies following the Kremlin’s invasion of Ukraine. The UAE last year imported 96.4 tons of gold from Russia, more than any other country, according to the United Nations’ Comtrade database. That’s roughly a third of Russia’s annual...
The US says it will not “under any circumstances” pay reparations to developing countries hit by climate change-fuelled disasters. Climate envoy John Kerry made the remarks at a Congress hearing before flying to China to discuss the issue. Some countries want major economies – which produce the most greenhouse gases – to pay for past...
One targeted company, Industrial Resources General Trading, is a Dubai-based company sanctioned for importing gold from the Central African Republic and paying the Russian mercenary outfit in cash sent directly to Moscow. It is the first Emirati company sanctioned in relation to Wagner. OFAC previously targeted another United Arab Emirates (UAE) based firm, Kratol Aviation, for...
The Global Initiative Against Transnational Organised Crime (GI-TOC) has published a report that presents strong indications that millions of US dollars’ worth of gold is being produced and smuggled out of South Sudan. Tarnished hope; Crime and corruption in South Sudan’s gold sector also outlines how gold is smuggled out of the country, often with the connivance of officials...
(Nairobi) – A company operating a gold mine in Ethiopia, Midroc Investment Group, and the Swiss refinery Argor-Heraeus that sourced its gold took no action over media reports about pollution from the mine for years, Human Rights Watch said today. An assessment carried out at the Ethiopian government’s request found that local residents had experienced serious health effects....