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European Parliament Calls For Harsh Economic Sanctions On ‘Criminal’ Belarusian Regime

The European Parliament has called for sweeping economic sanctions and a raft of other measures against Belarus in response to growing repression and the forced landing of a plane flying between two EU capitals to arrest opposition activist Raman Pratasevich. Economic sanctions should target Belarus’s state-run companies in the oil,… Read More

German tax haven law passes lower house

Drying up the “feel-good places for tax evaders” was parliament’s aim, said conservative finance politician Fritz Güntzler of Chancellor Angela Merkel’s Christian Democrats (CDU) as the lower house of parliament, the Bundestag, adopted the bill on Thursday. But skeptics, including opposition Markus Herbrand of the pro-business Free Democrats, said that… Read More

Bitcoin, Other Crypto Assets Targeted for Stiff Banking Regulation

The top global standard setter for banking regulation proposed a strict new rule that would require banks to essentially set aside a dollar in capital for every dollar of bitcoin they own. The Basel Committee for Banking Supervision, a group of global central bankers and regulators, announced the plan Thursday… Read More

11th June 2021

China Passes Law to Counter Foreign Sanctions

China enacted a new law aimed at countering foreign sanctions, in response to U.S. and European efforts to pressure Beijing on issues spanning human rights, trade and technology. Senior members of China’s legislature approved the “anti-foreign-sanctions law” on Thursday, state media said, following an expedited process that skipped public consultation… Read More

11th June 2021

EU takes Luxembourg to court over money laundering rules

The European Commission on Wednesday took Luxembourg to court, asking the European Court of Justice (ECJ) to impose a daily penalty on the country for failing to put new EU rules to stop money laundering into law. Without the rules on the freezing and confiscation of proceeds of crime, EU and national… Read More

11th June 2021

ECB tells Deutsche Bank to find new chairman fast – sources

The European Central Bank has asked Deutsche Bank a number of times in recent months to name a successor to chairman Paul Achleitner as the end of his term nears, two people with knowledge of the matter said. Achleitner is due to retire next May after 10 difficult years in… Read More

10th June 2021

Myanmar: EU’s third round of sanctions raises eyebrows

Questions have been raised over the EU’s exact objectives regarding Myanmar, after its foreign affairs chief, Josep Borrell, last Thursday said that a third round of sanctions will soon be imposed on the country’s military and economic interests. Following its February 1 coup, which overthrew the… Read More

10th June 2021

European businesses express alarm over China’s anti-sanctions law that could turn companies into ‘sacrificial pawns’

European companies have expressed alarm about a new Chinese anti-sanctions law, saying they are concerned by a lack of transparency. The law is expected to pass on Thursday at the closing session of the National People’s Congress Standing Committee. It will be the first major legal move by Beijing to… Read More

10th June 2021

Vatican Must Step Up Anti-Money Laundering Moves, Moneyval Says

The Holy See needs to further strengthen measures to combat money laundering and financing of terrorism, the Council of Europe’s anti-laundering body Moneyval said in a report published Wednesday. While Vatican authorities have a solid understanding of the threats from money laundering and financing of terrorism, and of the… Read More

8th June 2021

U.S. Sanctions on Bulgaria Forcing Government to Fight Corruption, Prime Minister Says

U.S. sanctions on Bulgarian officials and businesses are forcing the government to fight corruption, the country’s interim Prime Minister Stefan Yanev said Monday. Yanev said that Bulgaria cannot have a “stable political system” without solving corruption in the country after the U.S. Treasury Department put sanctions on three Bulgarian officials… Read More

4th June 2021

EU to impose new sanctions on Myanmar junta, companies -top envoy

The European Union will impose a new round of sanctions on Myanmar’s military junta and its economic interests in the coming days, EU foreign affairs chief Josep Borrell told Reuters on Thursday. In an interview in Jakarta after meetings with Southeast Asian diplomats, Borrell said the fresh sanctions from the… Read More

4th June 2021

‘There are no clean countries’, EU chief prosecutor says

Laura Kövesi knows a lot about fighting fraud and corruption in hostile conditions. She served as Romania’s chief prosecutor at the anti-corruption directorate from 2013 until she was forced out from her office in 2018 by the then justice minister. While in office, she brought ex-prime ministers, former ministers, MPs,… Read More

4th June 2021

Once Bitten, Twice Shy: The UK Must Provide a Credible Plan for Economic Engagement with Iran

By Darya Dolzikova and Tom Keatinge, RUSI, 2 June 2021 RUSI — The Iranian nuclear deal (formally known as the Joint Comprehensive Plan of Action or the JCPOA) has been in tatters since the administration of Donald Trump withdrew in May 2018, triggering a reimposition of… Read More

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