Imagine holding billions of dollars in frozen assets, but not knowing what will happen if they’re taken away. That’s exactly the challenge facing Euroclear, a Belgium-based financial giant that’s sitting on nearly €197 billion ($213 billion) of Russian assets frozen under EU sanctions. These assets, belonging to Russia’s central bank,
The European Union (EU) is pushing the United States to ease sanctions on Gazprombank, a major Russian bank that was crucial for the EU’s energy needs. Up until recently, EU countries used Gazprombank to pay for Russian natural gas, but things have changed, and now the EU is in talks
In the past few years, India has become one of the biggest buyers of Russian oil. This started when the West imposed sanctions on Russia after the invasion of Ukraine in 2022. With Western companies pulling out, Russia needed a new market for its oil, and India stepped in. But
US President-elect Donald Trump has sent a strong warning to the BRICS nations – a group of countries trying to challenge the dominance of the US dollar in global trade. Trump has made it clear: if BRICS nations move forward with plans to create their own currency or replace the
The US is getting ready to impose new restrictions on China’s ability to develop advanced artificial intelligence (AI), according to Bloomberg. This move is part of the ongoing tech battle between the two largest economies in the world, and it could be announced as soon as next week. So, why
Russia and Iran have officially stopped using the US dollar for trade between their countries, switching entirely to their own national currencies—the Russian ruble and the Iranian rial. This major shift, confirmed by Mohammad-Reza Farzin, the Governor of the Central Bank of Iran (CBI), marks a bold move to sidestep
The United States recently took a big step by imposing heavy sanctions on Russia’s Gazprombank, which is a major player in handling gas payments from Russia. These new sanctions are part of a larger effort by the US to pressure Russia, but Hungary’s Foreign Minister, Peter Szijjarto, says these actions
A new sea trade route connecting India and Russia is now open, and it’s set to change the game for global shipping. The Eastern Maritime Corridor (EMC) links Vladivostok in Russia’s Far East to Chennai on India’s southeastern coast. Indian Minister of Ports, Shipping, and Waterways, Sarbananda Sonowal, made the
A startling investigation has uncovered a hidden network involving large shipments of high-tech measuring instruments that were originally meant for Kazakhstan. However, these advanced devices are being redirected to Russia, including to companies already facing international sanctions. The story begins with Kazakhstan-based companies, like Askarlab, purchasing expensive electronics from leading
