World ECR | OFAC issues new licenses targeting Russia sanctions,
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) issued five new general licenses (GLs) that modify restrictions on transactions with Russia, including extending the deadline for energy-related transactions to April 30, 2025. Under General License No. 8K, OFAC authorizes "energy-related transactions" with designated Russian banks, including Sberbank, VTB Bank, Alfa-Bank and several others. The license defines energy-related activities as "the extraction, production, refining, liquefaction, gasification, regasification, conversion, concentration, manufacture, transportation or purchase of petroleum" and other energy products. The agency also provides a grace period for certain newly sanctioned entities. OFAC stated in General License No. 110 that "all transactions generally incidental to and necessary for any transaction involving one or more of the following blocked entities are authorized before 12:01 a.m. Eastern Standard Time on December 14, 2024." . Covers several companies, including XH Smart Tech China Co Ltd, Lokesh Machines Limited, Orbit Fintrade LLP and Wuhan Huazhong CNC Co., Ltd. Meanwhile, GL No. 25G authorizes "the…
WorldECR | US further sanctions targeting Iran’s ballistic missiles
Home > information > US targets Iran's ballistic missile and drone programs with further sanctions The U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) has imposed sanctions on individuals and entities in Iran and China for “procuring various components, such as accelerometers and gyroscopes, which are critical inputs to Iran’s ballistic missile and unmanned aerial vehicle (UAV) programs.” The July 30 operation targeted five individuals and seven entities based in Iran, mainland China and Hong Kong who “facilitated procurement under Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL),” the statement said. The United States and its allies Britain and the European Union have been increasing sanctions on Iran's drone industry since Russia invaded Ukraine in February 2022. Tehran says Russia is a major customer for its drones. Moscow has used combat drones to devastating effect in the war in Ukraine. “Today’s action uncovers additional key front companies and trusted agents through which Iran seeks to obtain these parts,”…
Jaguar’s rebirth plan includes targeting wealthier
Jaguar boss Rodan Glover says the brand needs to change the way it does business Jaguar is in the midst of a major brand transformation. Managing director Rawdon Glover provided some details about the shift. The automaker will target wealthier buyers and more luxurious segments. Earlier this month, Jaguar said it would discontinue its entire lineup except for the F-Pace SUV by the end of the year. This change was not made lightly, but Jaguar's fate is sealed. Jaguar's boss said the shift was due to "profitability approaching zero." The brand's future is electric, and Rawdon Glover has just provided some additional insight. Glover is Jaguar's Managing Director. He has been with the team for over 11 years, having previously worked at Volkswagen and Seat. He knows cars and has a deep understanding of the Jaguar brand itself. MORE: Jaguar Land Rover settles infotainment system lawsuit, owners get fixes, lawyers get huge payout In an interview with Motortrend, he said…
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Chengdu Construction and Decoration Materials Expo-Chengdu Construction Expo 2025 List of exhibitors
