Featured Extractive Industries

Settlement Talks for Bank Followed Pressure on Trump by Turkey’s Leader

After repeated appeals to President Trump by Turkey’s president to avoid charges against a state-owned Turkish bank, Attorney General William P. Barr oversaw an effort earlier this year to negotiate a settlement with the bank, two people with knowledge of the matter said. The settlement push abruptly ended on Tuesday… Read More

India cannot sacrifice economic strength to comply with U.S. sanctions: Finance Minister

India wants to comply with global sanctions, including U.S. sanctions on Venezuela and Russia, but also needs to maintain its own strength and strategic interests, Finance Minister Nirmala Sitharaman said in an interview on Tuesday. The United States in January imposed the toughest sanctions yet on Venezuela’s oil industry. The… Read More

U.S. Inquiry Into Turkish Bank Inflamed Erdogan, Then Went Quiet

U.S. prosecutors were bearing down last year on a state-owned Turkish bank implicated in a sanctions case that had long been an irritant for Turkish President Recep Tayyip Erdogan. Erdogan asked both the Obama and Trump administrations to drop the matter. Rudy Giuliani got involved, mounting an… Read More
14th October 2019
In 2017, Israeli private investigation company Black Cube secretly recorded senior officials at Mexico’s Petróleos Mexicanos describing widespread bribery and corruption at the state-run oil company. The audio recordings are part of the evidence in a lawsuit filed last year against the Mexican government by a Mexican oil-field drilling company… Read More
11th October 2019
An international arrest warrant is being prepared for Ukrainian billionaire Kostyantyn Zhevaho, who the newly created State Bureau of Investigations (DBR) suspects of large-scale money laundering and embezzlement of funds from a bank he formerly owned. DBR chief Roman Truba said in a briefing on October 9 that an arrest… Read More
10th October 2019
South Carolina Senator Lindsey Graham introduced a bipartisan measure Wednesday to sanction Turkey in response to President Donald Trump’s decision to pull U.S. troops from northern Syria, which left Kurdish fighters in Syria vulnerable to a Turkish invasion. Graham, a Republican, is partnering with Democratic Senator Chris Van Hollen on… Read More
10th October 2019
President Donald Trump pressed then-Secretary of State Rex Tillerson to help persuade the Justice Department to drop a criminal case against an Iranian-Turkish gold trader who was a client of Rudy Giuliani, according to three people familiar with the 2017 meeting in the Oval Office. Tillerson refused, arguing it would… Read More
9th October 2019
Chinese oil imports from ship-to-ship transfers surged last month as flows from some traditional suppliers were crimped by the White House’s aggressive trade and foreign policies. Some 910,000 tons of crude, three times as much as in August, was offloaded at Chinese ports after being transferred in the South China… Read More
3rd October 2019
Prosecutors have wrapped up a probe into alleged fraudulent diamond selling by some of Italy’s top banks, having investigated high profile executives working for UniCredit (CRDI.MI) and Intesa Sanpaolo (ISP.MI), a prosecutor document showed. The document, seen by Reuters on Wednesday, showed the number of people… Read More
27th September 2019
When a British-owned ship loaded cargo at a coal berth on the west coast of North Korea earlier this year, its operators hoped that the mission would remain low-key. The Lucky Star’s public tracking system was switched off and was not reactivated until six days later when it had sailed… Read More
27th September 2019
The Trump administration imposed sanctions Thursday against a Moscow-based firm and five vessels the Treasury Department said shipped fuel to Syria used to support the Assad regime’s bombing campaigns against civilians. The action announced by the U.S. Treasury Department is designed not only to disrupt fuel deliveries to Syria, but… Read More
26th September 2019
Global oil shipping was thrown into disarray after the U.S. imposed penalties on a handful of Chinese tanker firms for continuing to carry Iranian crude after sanctions waivers lapsed in May. Four shipping companies were charged with knowingly violating restrictions on handling and transacting Iranian petroleum, with additional sanctions… Read More
25th September 2019
The U.S. Treasury Department on Tuesday imposed sanctions on four maritime firms and vessels transporting Venezuelan oil to Cuba, amid an acute fuel scarcity in the island that is forcing people to line up for gasoline and public transport. Despite tough U.S. measures against Venezuela’s state-owned oil company PDVSA in… Read More