Treasury Department sanctions Russian cybercriminal group, Evil Corp.

Treasury Department sanctions Russian cybercriminal group, Evil Corp.CNBC’s Eamon Javers reports on new sanctions from the Treasury Department against a cybercriminal group out of Russia.


Treasury Department sanctions Russian cybercriminal group, Evil Corp.CNBC’s Eamon Javers reports on new sanctions from the Treasury Department against a cybercriminal group out of Russia.
Treasury Department sanctions Russian cybercriminal group, Evil Corp. Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-05
Keywords: news, cnbc, companies, department, cybercriminal, russian, treasury, reports, javers, corp, russia, group, evil, sanctions


Treasury Department sanctions Russian cybercriminal group, Evil Corp.

Treasury Department sanctions Russian cybercriminal group, Evil Corp.

CNBC’s Eamon Javers reports on new sanctions from the Treasury Department against a cybercriminal group out of Russia.


Company: cnbc, Activity: cnbc, Date: 2019-12-05
Keywords: news, cnbc, companies, department, cybercriminal, russian, treasury, reports, javers, corp, russia, group, evil, sanctions


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China suspends US military visits to Hong Kong, sanctions US-based NGOs

Chinese President Xi Jinping at the Great Hall of the People in Beijing, China November 27, 2019. China said on Monday U.S. military ships and aircraft won’t be allowed to visit Hong Kong, and also announced sanctions against several U.S. non-government organisations for encouraging protesters to “engage in extremist, violent and criminal acts.” China last week promised it would issue “firm counter measures” after U.S. President Donald Trump signed into law the “Hong Kong Human Rights and Democr


Chinese President Xi Jinping at the Great Hall of the People in Beijing, China November 27, 2019.
China said on Monday U.S. military ships and aircraft won’t be allowed to visit Hong Kong, and also announced sanctions against several U.S. non-government organisations for encouraging protesters to “engage in extremist, violent and criminal acts.”
China last week promised it would issue “firm counter measures” after U.S. President Donald Trump signed into law the “Hong Kong Human Rights and Democr
China suspends US military visits to Hong Kong, sanctions US-based NGOs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02
Keywords: news, cnbc, companies, rights, ships, sanctions, week, kong, hong, ngos, china, usbased, beijing, visit, protesters, times, visits, suspends, military


China suspends US military visits to Hong Kong, sanctions US-based NGOs

Chinese President Xi Jinping at the Great Hall of the People in Beijing, China November 27, 2019.

China said on Monday U.S. military ships and aircraft won’t be allowed to visit Hong Kong, and also announced sanctions against several U.S. non-government organisations for encouraging protesters to “engage in extremist, violent and criminal acts.”

The measures were announced by China’s Foreign Ministry in response to U.S. legislation passed last week supporting anti-government protesters. It said it had suspended taking requests for U.S. military visits indefinitely, and warned of further action to come.

“We urge the U.S. to correct the mistakes and stop interfering in our internal affairs. China will take further steps if necessary to uphold Hong Kong’s stability and prosperity and China’s sovereignty,” said ministry spokeswoman Hua Chunying said at a daily news briefing in Beijing.

China last week promised it would issue “firm counter measures” after U.S. President Donald Trump signed into law the “Hong Kong Human Rights and Democracy Act,” which supports anti-government protesters in Hong Kong and threatens China with potential sanctions.

There are fears that the row over Hong Kong could impact efforts by Beijing and Washington to reach preliminary deal that could de-escalate a prolonged trade war between the two countries.

The U.S.-headquartered NGOs targeted by Beijing include the National Endowment for Democracy, the National Democratic Institute for International Affairs, the International Republican Institute, Human Rights Watch, and Freedom House.

“They shoulder some responsibility for the chaos in Hong Kong and they should be sanctioned and pay the price,” said Hua.

In more normal times, several U.S. naval ships visit Hong Kong annually, a rest-and-recreation tradition that dates back to the pre-1997 colonial era which Beijing allowed to continue after the handover from British to Chinese rule.

Visits have at times been refused amid broader tensions and two U.S. ships were denied access in August.

The USS Blue Ridge, the command ship of the Japanese-based Seventh Fleet, stopped in Hong Kong in April – the last ship to visit before mass protests broke out in June.

Foreign NGOs are already heavily restricted in China, and have previously received sharp rebukes for reporting on rights issues in the country including the mass detention of Uighur Muslims in Xinjiang.


Company: cnbc, Activity: cnbc, Date: 2019-12-02
Keywords: news, cnbc, companies, rights, ships, sanctions, week, kong, hong, ngos, china, usbased, beijing, visit, protesters, times, visits, suspends, military


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Turkey’s multibillion-dollar arms deal with Russia casts a shadow over NATO summit

WASHINGTON — Clouding the NATO leaders meeting in London this week is Turkey’s decision to buy and begin testing of a Russian missile system — a move that is believed to pose a risk to the world’s strongest military alliance. Ankara faces blowback from NATO members as well as U.S. sanctions for completing its messy multibillion-dollar arms deal with the Kremlin. Yet Turkey’s government has shrugged off the potential sanctions since accepting delivery of the Russian S-400 missile system, and Pres


WASHINGTON — Clouding the NATO leaders meeting in London this week is Turkey’s decision to buy and begin testing of a Russian missile system — a move that is believed to pose a risk to the world’s strongest military alliance.
Ankara faces blowback from NATO members as well as U.S. sanctions for completing its messy multibillion-dollar arms deal with the Kremlin.
Yet Turkey’s government has shrugged off the potential sanctions since accepting delivery of the Russian S-400 missile system, and Pres
Turkey’s multibillion-dollar arms deal with Russia casts a shadow over NATO summit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: amanda macias
Keywords: news, cnbc, companies, multibilliondollar, s400, russia, casts, arms, shadow, sanctions, nato, trump, turkeys, patriot, missile, system, turkey, president, deal, summit, russian


Turkey's multibillion-dollar arms deal with Russia casts a shadow over NATO summit

WASHINGTON — Clouding the NATO leaders meeting in London this week is Turkey’s decision to buy and begin testing of a Russian missile system — a move that is believed to pose a risk to the world’s strongest military alliance.

Ankara faces blowback from NATO members as well as U.S. sanctions for completing its messy multibillion-dollar arms deal with the Kremlin.

Yet Turkey’s government has shrugged off the potential sanctions since accepting delivery of the Russian S-400 missile system, and President Donald Trump himself has been sympathetic to Turkish President Recep Tayyip Erdogan’s decision.

Last month, the two leaders met in Washington with seemingly no breakthrough on the S-400 issue.

Earlier this year, Trump said he could not blame Turkey for buying the S-400, a move that resulted in dropping the NATO ally’s participation in the F-35 program.

“I don’t blame Turkey because there are a lot of circumstances and a lot of … problems that occurred during the Obama administration,” Trump said in July. “This dates back to the Obama administration, which was a disaster.”

Read more: Turkey proceeds with deal for Russian missile system despite US and NATO warnings

Trump then did not elaborate on whether he would impose sanctions on Turkey for doing business with the Kremlin. Under the Countering America’s Adversaries Through Sanctions Act, or CAATSA, which the president signed in August 2017, Turkey could face economic sanctions for buying the Russian-made missile system.

“It’s a tough situation. They’re getting the S-400 and our statues and everything else — as you do that, you just can’t order this equipment,” Trump said. “And generally speaking, you can’t order equipment period.”

In efforts to deter Turkey from buying the S-400, the State Department offered in 2013 and 2017 to sell the country Raytheon’s Patriot missile system. Ankara passed on Patriot both times because the U.S. declined to provide a transfer of the system’s sensitive missile technology. Turkey can still get the Patriot, but only after meeting certain conditions.

“There is room for Turkey to come back to the table. They know that to make this work they need to either destroy, return, or somehow get rid of the S-400. At the same time, we certainly have not closed the door on their ability to acquire the Patriot battery, which does address their air defense needs,” explained a senior State Department official, who spoke on the condition of anonymity.

The official also said that the timeline for imposing CAATSA sanctions “is not prescribed or absolute.”

“There is still plenty of scope that could be applied as to where sanctions and the breadth and depth of sanctions could be imposed upon Turkey,” the official added.


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: amanda macias
Keywords: news, cnbc, companies, multibilliondollar, s400, russia, casts, arms, shadow, sanctions, nato, trump, turkeys, patriot, missile, system, turkey, president, deal, summit, russian


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Iran faces its most critical moment since the 1979 Revolution

DUBAI – Iran faces a time of reckoning, and the stakes couldn’t be higher: potential war with the United States, the reversal of its gains across the Middle East and the future of its revolutionary state. They instead were focused on the crisis in Iran, just 600 miles away from the UAE as the drone flies. This defining moment for Tehran – perhaps the most critical since the Iranian Revolution of 1979 — has been prompted by the Trump administration’s “maximum pressure” campaign of sanctions, Ira


DUBAI – Iran faces a time of reckoning, and the stakes couldn’t be higher: potential war with the United States, the reversal of its gains across the Middle East and the future of its revolutionary state.
They instead were focused on the crisis in Iran, just 600 miles away from the UAE as the drone flies.
This defining moment for Tehran – perhaps the most critical since the Iranian Revolution of 1979 — has been prompted by the Trump administration’s “maximum pressure” campaign of sanctions, Ira
Iran faces its most critical moment since the 1979 Revolution Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-22  Authors: frederick kempe
Keywords: news, cnbc, companies, revolution, 1979, trump, washington, states, irans, faces, moment, protests, nuclear, tehran, iran, sanctions, united, critical


Iran faces its most critical moment since the 1979 Revolution

DUBAI – Iran faces a time of reckoning, and the stakes couldn’t be higher: potential war with the United States, the reversal of its gains across the Middle East and the future of its revolutionary state.

It would surprise most Americans how little the Arab public and media here – nine time zones from Washington, D.C. – were occupied this week with the congressional hearings on impeaching President Donald Trump. They instead were focused on the crisis in Iran, just 600 miles away from the UAE as the drone flies.

This defining moment for Tehran – perhaps the most critical since the Iranian Revolution of 1979 — has been prompted by the Trump administration’s “maximum pressure” campaign of sanctions, Iran’s dangerously declining economy, and the cumulative effect of Tehran’s domestic malfeasance and regional overstretch.

Growing protests in Iran, Iraq and Lebanon have charged the atmosphere with urgency.

What’s clear is that the growing scale of the challenge makes it difficult for Iran to pursue its earlier approach toward mounting U.S. pressure: hunkering down and waiting out the Trump administration through the November 2020 election in the hope of Democratic victory.

What’s less clear is whether Tehran over the short term will respond to this historic test with more military escalation, diplomatic compromise – or a combination of both.

Diplomats in the Middle East argue that the United States has put itself in a good position to shape that choice. They argue Washington could take advantage of Iran’s increased difficulties by working more closely with European and Mideast allies to frame an offer that would ease sanctions but put in place a process that would block Iran’s path to a nuclear weapon and end its foreign policy of regional meddling.

However, that sounds like wishful thinking in the world of Washington’s distractions, transatlantic distrust and Iranian outrage. Trump administration officials are sanguine, arguing that at the very least the sanctions have cut deeply into the resources Iran can invest in its proxies. Protests at home and abroad are usefully soaking up regime energies.

The danger is that may risk further military escalation to gain attention and leverage, following its June 20 shooting down of the American drone and its Sept. 14 strike on Saudi oil processing facilities. Or it could take further steps away from its nuclear agreement of 2015, having this month resumed low grade uranium enrichment at its underground Fordow nuclear plant to 60% of fissile purity, not far from the 90% level required for nuclear bomb fuel.

It’s hard to imagine Iran entering the expanded talks the U.S. would want without first getting the sanctions relief Trump has thus far refused. Yet it’s just as difficult for Iran to imagine that the status quo is sustainable, amid a collapsing economy and rising protests.


Company: cnbc, Activity: cnbc, Date: 2019-11-22  Authors: frederick kempe
Keywords: news, cnbc, companies, revolution, 1979, trump, washington, states, irans, faces, moment, protests, nuclear, tehran, iran, sanctions, united, critical


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A messy Russian arms deal looms over Trump’s meeting with Turkish President Erdogan

Turkey’s President Recep Tayyip Erdogan (L) shakes hands with U.S President Donald Trump as they make statements to reporters in the Roosevelt Room of the White House in Washington, U.S. May 16, 2017. WASHINGTON — President Donald Trump’s Wednesday meeting with Turkish President Recep Tayyip Erdogan comes as the two NATO allies navigate several thorny national security issues. But Turkey shrugged off the potential sanctions, and Trump himself has been sympathetic to Erdogan’s decision. Read more


Turkey’s President Recep Tayyip Erdogan (L) shakes hands with U.S President Donald Trump as they make statements to reporters in the Roosevelt Room of the White House in Washington, U.S. May 16, 2017.
WASHINGTON — President Donald Trump’s Wednesday meeting with Turkish President Recep Tayyip Erdogan comes as the two NATO allies navigate several thorny national security issues.
But Turkey shrugged off the potential sanctions, and Trump himself has been sympathetic to Erdogan’s decision.
Read more
A messy Russian arms deal looms over Trump’s meeting with Turkish President Erdogan Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: amanda macias
Keywords: news, cnbc, companies, erdogan, s400, missile, buying, russian, nato, arms, system, looms, deal, turkish, turkey, meeting, trumps, president, sanctions, trump, messy


A messy Russian arms deal looms over Trump's meeting with Turkish President Erdogan

Turkey’s President Recep Tayyip Erdogan (L) shakes hands with U.S President Donald Trump as they make statements to reporters in the Roosevelt Room of the White House in Washington, U.S. May 16, 2017.

WASHINGTON — President Donald Trump’s Wednesday meeting with Turkish President Recep Tayyip Erdogan comes as the two NATO allies navigate several thorny national security issues.

Yet while Erdogan’s visit comes on the heels of his military’s action against the Kurds in northern Syria, following Trump’s decision to withdraw U.S. forces from the area, another U.S.-Turkey dustup has flown under the radar. And it involves an arms deal with Russia.

The U.S. could sanction Turkey for buying Russia’s S-400, a mobile surface-to-air missile system that is said to pose a risk to the NATO alliance as well as to America’s most expensive weapons system: Lockheed Martin’s F-35 jet.

But Turkey shrugged off the potential sanctions, and Trump himself has been sympathetic to Erdogan’s decision. In July, Trump said he could not blame Turkey for buying the S-400, a move that resulted in dropping the NATO ally’s participation in the F-35 program.

“I don’t blame Turkey because there are a lot of circumstances and a lot of … problems that occurred during the Obama administration,” the president said at the time. “This dates back to the Obama administration, which was a disaster.”

Read more: Turkey proceeds with deal for Russian missile system despite US and NATO warnings

Trump then did not elaborate on whether he would impose sanctions on Turkey for doing business with the Kremlin. Under the Countering America’s Adversaries Through Sanctions Act, which the president signed in August 2017, Turkey could face economic sanctions for buying the Russian-made missile system.

“It’s a tough situation. They’re getting the S-400 and our statues and everything else — as you do that, you just can’t order this equipment,” Trump said. “And generally speaking, you can’t order equipment period.”


Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: amanda macias
Keywords: news, cnbc, companies, erdogan, s400, missile, buying, russian, nato, arms, system, looms, deal, turkish, turkey, meeting, trumps, president, sanctions, trump, messy


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The ball is in Iran’s court on talks, senior U.S. energy official says

“The ball is in the Iranian regime’s court, as it were,” Frank Fannon, U.S. Assistant Secretary for the Bureau of Energy Resources at the State Department told CNBC’s Hadley Gamble on stage. They’re encouraging talks, but there are certain conditions that have to be met. Fomenting proxy wars and creating instability in the region, that is not a way to come to the negotiation table.” A report by the International Atomic Energy Agency revealed on Monday that Iran is enriching uranium at its heavil


“The ball is in the Iranian regime’s court, as it were,” Frank Fannon, U.S. Assistant Secretary for the Bureau of Energy Resources at the State Department told CNBC’s Hadley Gamble on stage.
They’re encouraging talks, but there are certain conditions that have to be met.
Fomenting proxy wars and creating instability in the region, that is not a way to come to the negotiation table.”
A report by the International Atomic Energy Agency revealed on Monday that Iran is enriching uranium at its heavil
The ball is in Iran’s court on talks, senior U.S. energy official says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-12  Authors: natasha turak
Keywords: news, cnbc, companies, senior, irans, regimes, energy, sanctions, ball, iranian, nuclear, iran, court, regime, missiles, international, official, talks, iranians


The ball is in Iran's court on talks, senior U.S. energy official says

ABU DHABI, United Arab Emirates — A senior State Department official on Tuesday said current tensions between the U.S. and Iran are entirely within Iran’s power to fix, speaking at a panel event on energy and geopolitics at the annual Abu Dhabi International Petroleum Exhibition & Conference (Adipec). “The ball is in the Iranian regime’s court, as it were,” Frank Fannon, U.S. Assistant Secretary for the Bureau of Energy Resources at the State Department told CNBC’s Hadley Gamble on stage. “The administration has been very clear on the conditions. They’re encouraging talks, but there are certain conditions that have to be met. Fomenting proxy wars and creating instability in the region, that is not a way to come to the negotiation table.” The comments come as Iran steadily rolls back its commitments to the 2015 Iranian nuclear deal, 16 months after President Donald Trump withdrew from the multilateral agreement and imposed crippling economic sanctions on the Islamic Republic. A report by the International Atomic Energy Agency revealed on Monday that Iran is enriching uranium at its heavily fortified underground Fordow site and speeding up enrichment generally. The Iranians say they will undo the steps they’ve taken — steps that bring them closer to nuclear bomb-making capability — if all parties to the deal abide by it and sanctions on the country are lifted.

This handout image supplied by the IIPA (Iran International Photo Agency) shows a view of the reactor building at the Russian-built Bushehr nuclear power plant as the first fuel is loaded, on August 21, 2010 in Bushehr, southern Iran. Getty Images

In a press conference on Tuesday, Fannon called the Iranian regime a “criminal enterprise” for its backing of regional paramilitary and terrorist groups like Hezbollah and Hamas, its testing of ballistic missiles and its support for the Syrian regime of Bashar al Assad. Tehran argues it was asked by the Assad government to intervene in Syria, and describes its development of ballistic missiles as exercising its sovereign right to self-defense. Critics of the administration argue that Trump’s policy — that of maximum pressure through sanctions — has not been conducive to rapprochement, and they question the clarity of the administration’s ultimate goal with regard to Iran. Some suspect the White House wants regime change, which U.S. officials deny, saying they’re pursuing an end to the Iranian regime’s “malign behavior.” Iranian Supreme Leader Ayatollah Ali Khamenei said in September that Iran would “never” hold talks with the U.S. at any level, and that Washington’s sanctioning of the country’s leaders closed the door on any chance at diplomacy. One former senior Obama administration official, who did not want to be named, told CNBC during the Abu Dhabi conference that a negotiated deal with the Iranians was entirely possible and in Tehran’s interest, but that the Iranians had to be able to do it “without looking like Trump’s bitch.” Iranians and country analysts often note the country’s strong sense of pride, casting doubt on any notion that the regime’s leaders would be willing to come to the table from a position of weakness.

An Iranian woman and her son walk past Shahab-2 (L) and Shahab-3 missiles on display in front of a large portrait of Iran’s Supreme Leader Ayatollah Ali Khamenei in a square in south Tehran. Atta Kenare | AFP | Getty Images


Company: cnbc, Activity: cnbc, Date: 2019-11-12  Authors: natasha turak
Keywords: news, cnbc, companies, senior, irans, regimes, energy, sanctions, ball, iranian, nuclear, iran, court, regime, missiles, international, official, talks, iranians


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US sanctions 9 people with ties to Iran’s top leader

Iranian Supreme Leader Ayatollah Ali Khamanei makes a speech regarding Trump’s withdrawal decision from Iran nuclear deal during a press conference in Tehran, Iran on May 09, 2018. The United States imposed sanctions on nine people with ties to Iran Supreme Leader Ayatollah Ali Khamenei, including his chief of staff, one of his sons and the head of Iran’s judiciary, the U.S. Treasury Department said on Monday. “Today the Treasury Department is targeting the unelected officials who surround Iran’


Iranian Supreme Leader Ayatollah Ali Khamanei makes a speech regarding Trump’s withdrawal decision from Iran nuclear deal during a press conference in Tehran, Iran on May 09, 2018.
The United States imposed sanctions on nine people with ties to Iran Supreme Leader Ayatollah Ali Khamenei, including his chief of staff, one of his sons and the head of Iran’s judiciary, the U.S. Treasury Department said on Monday.
“Today the Treasury Department is targeting the unelected officials who surround Iran’
US sanctions 9 people with ties to Iran’s top leader Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-04  Authors: natasha turak
Keywords: news, cnbc, companies, united, iran, states, supreme, khamenei, department, leader, ties, sanctions, treasury, irans, staff


US sanctions 9 people with ties to Iran's top leader

Iranian Supreme Leader Ayatollah Ali Khamanei makes a speech regarding Trump’s withdrawal decision from Iran nuclear deal during a press conference in Tehran, Iran on May 09, 2018.

The United States imposed sanctions on nine people with ties to Iran Supreme Leader Ayatollah Ali Khamenei, including his chief of staff, one of his sons and the head of Iran’s judiciary, the U.S. Treasury Department said on Monday.

The United States also sanctioned Iran’s Armed Forces General Staff, the department said in the statement, which came 40 years after Iran seized the U.S. embassy in Tehran, taking more than 50 Americans hostage.

“Today the Treasury Department is targeting the unelected officials who surround Iran’s Supreme Leader, Ayatollah Khamenei, and implement his destabilizing policies,” U.S. Treasury Secretary Steven Mnuchin said in a statement.

“These individuals are linked to a wide range of malign behaviors by the regime, including bombings of the U.S. Marine Barracks in Beirut in 1983 and the Argentine Israelite Mutual Association in 1994, as well as torture, extrajudicial killings, and repression of civilians,” Mnuchin added.

Those targeted by the U.S. sanctions include Khamenei’s chief of staff Mohammad Mohammadi Golpayegani as well as Vahid Haghanian, who the department said “has been referred to as the supreme leader’s right hand.”

Ebrahim Raisi, who Khamenei appointed in March 2019 to lead Iran’s judiciary, and Mojtaba Khamenei, Ali Khamenei’s second son, were also sanctioned, Treasury said.

U.S. sanctions block any U.S.-controlled property or interests held by those targeted and prohibit anyone or any entities in the United States from dealing with those sanctioned.


Company: cnbc, Activity: cnbc, Date: 2019-11-04  Authors: natasha turak
Keywords: news, cnbc, companies, united, iran, states, supreme, khamenei, department, leader, ties, sanctions, treasury, irans, staff


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WTO says China can impose $3.6 billion sanctions on US goods

The World Trade Organization said Friday that China can impose tariffs on up to $3.6 billion worth of U.S. goods over the American government’s failure to abide by anti-dumping rules with regard to Chinese products. The decision means China can impose higher tariffs against the United States than China is currently allowed under WTO rules, and will be given leeway as to the U.S. products and sectors it would like to target. That was a record award from a WTO arbitrator in the trade body’s nearly


The World Trade Organization said Friday that China can impose tariffs on up to $3.6 billion worth of U.S. goods over the American government’s failure to abide by anti-dumping rules with regard to Chinese products.
The decision means China can impose higher tariffs against the United States than China is currently allowed under WTO rules, and will be given leeway as to the U.S. products and sectors it would like to target.
That was a record award from a WTO arbitrator in the trade body’s nearly
WTO says China can impose $3.6 billion sanctions on US goods Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-01
Keywords: news, cnbc, companies, impose, sanctions, goods, antidumping, tariffs, billion, states, chinese, united, wto, china, products, award, trade


WTO says China can impose $3.6 billion sanctions on US goods

President Donald Trump meets with China’s President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019.

The World Trade Organization said Friday that China can impose tariffs on up to $3.6 billion worth of U.S. goods over the American government’s failure to abide by anti-dumping rules with regard to Chinese products.

The move hands China its first such payout at the trade body at a time when it is engaged in a big dispute with the United States that has bypassed the WTO altogether and resulted in tariffs on hundreds of billions of dollars’ worth of goods.

The announcement from a WTO arbitrator centers on a case with origins long before the current trade standoff: a Chinese complaint filed nearly six years ago seeking over $7 billion in retaliation.

The decision means China can impose higher tariffs against the United States than China is currently allowed under WTO rules, and will be given leeway as to the U.S. products and sectors it would like to target.

Parts of a WTO ruling in May 2017 went in favor of China in its case against some 40 U.S. anti-dumping rulings, involving trade limits on Chinese products that the United States says are or were sold below market value.

However, the WTO arbitrator honed down the award to base it on some 25 Chinese products — including diamond sawblades, furniture, shrimp, solar panels, automotive tires and a series of steel products — that were affected by U.S. anti-dumping measures. That explains why the award was less than the sum China had sought.

The decision comes as the United States is fresh off a high-profile WTO award against the European Union over subsidies given to European plane maker Airbus, which has let Washington slap tariffs on $7.5 billion worth of EU goods including Italian cheese, Scottish whiskey and olives from Spain.

That was a record award from a WTO arbitrator in the trade body’s nearly quarter-century history. The award announced Friday ranks as the third-largest.

In the Chinese anti-dumping ruling, the WTO faulted two techniques that the United States uses to set penalties for dumping. Its so-called “zeroing methodology” — long a problem for the trade body — involves cherry-picking violators and neglecting law-abiding producers in a way that lets U.S. officials artificially inflate the penalties imposed.

The other technique involves treating multiple Chinese companies of a product as a single entity, in essence penalizing some producers that do not violate anti-dumping rules along with those that do.

While these tariffs are allowed by the WTO under international trade law, the Trump administration has in its disputes with China and other commercial partners exchanged tariffs unilaterally, without any green light from the WTO.

The U.S. and China have filed a number of complaints with the WTO against each others’ tariffs, but dispute resolution can take years.


Company: cnbc, Activity: cnbc, Date: 2019-11-01
Keywords: news, cnbc, companies, impose, sanctions, goods, antidumping, tariffs, billion, states, chinese, united, wto, china, products, award, trade


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Major contraction in Iran is driving the Middle East’s growth slowdown: IMF report

Workers cross walkways between zones aboard an offshore oil platform in the Persian Gulf’s Salman Oil Field, near Lavan island, Iran, on Jan. 5. “The outlook for the MCD region (Middle East and Central Asia) is driven by a large contraction in Iran in the short-term followed by a rebound in 2020,” the report said. Broader international factors are also impacting the region’s growth, the report said. “For the oil exporting countries, non-oil growth is gradually picking up thanks to the reforms th


Workers cross walkways between zones aboard an offshore oil platform in the Persian Gulf’s Salman Oil Field, near Lavan island, Iran, on Jan. 5.
“The outlook for the MCD region (Middle East and Central Asia) is driven by a large contraction in Iran in the short-term followed by a rebound in 2020,” the report said.
Broader international factors are also impacting the region’s growth, the report said.
“For the oil exporting countries, non-oil growth is gradually picking up thanks to the reforms th
Major contraction in Iran is driving the Middle East’s growth slowdown: IMF report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-28  Authors: natasha turak
Keywords: news, cnbc, companies, easts, major, growth, region, report, factors, middle, imf, outlook, driving, iran, oil, contraction, sanctions, east, slowdown


Major contraction in Iran is driving the Middle East's growth slowdown: IMF report

Workers cross walkways between zones aboard an offshore oil platform in the Persian Gulf’s Salman Oil Field, near Lavan island, Iran, on Jan. 5. 2017.

The International Monetary Fund’s latest regional outlook report for the Middle East and Central Asia, published Monday, paints a picture of uncertain economies weighed down by global factors like trade tensions as well as internal and regional turmoil.

Trade wars, oil price volatility, the risk of a disorderly Brexit and rising social unrest — and in the short term, a massive economic contraction in Iran as it buckles under heavy U.S. sanctions — are the biggest factors shaping the region’s outlook, according to the IMF.

“The outlook for the MCD region (Middle East and Central Asia) is driven by a large contraction in Iran in the short-term followed by a rebound in 2020,” the report said. “The risks around the forecast are skewed to the downside and are highly dependent on global factors.”

The IMF expects Iran to have a fiscal deficit of 4.5% in 2019 and 5.1% in 2020, and projects its growth to contract by a whopping 9.5% this year. The country of 80 million and third-largest OPEC producer has seen its currency go into free fall and inflation approach 40% after being hit by wide-ranging sanctions following the Trump administration’s withdrawal from the 2015 Iranian nuclear deal. The sanctions have slashed Iran’s crude exports by about 80%, according to Reuters estimates.

Broader international factors are also impacting the region’s growth, the report said.

“The region is this year growing at a slower pace than last year. And this is due to the various shocks or factors that are affecting the output of the region,” Jihad Azour, the IMF’s director for the Middle East and Central Asia, told CNBC’s Hadley Gamble in Dubai.

Azour said that oil importing countries should expect a growth slowdown from 4.3% to 3.6%, mainly driven by Pakistan and Sudan, while oil exporters — excluding Iran and countries impacted by war — should expect growth of 1.3% in 2019 compared to 1.6% the year before.

“For the oil exporting countries, non-oil growth is gradually picking up thanks to the reforms that they have introduced,” Azour said. “Yet the overall growth declined because of the volatility and the slowdown in the production due to the OPEC+ agreement (to limit oil output) and the negative growth in Iran and Libya.”


Company: cnbc, Activity: cnbc, Date: 2019-10-28  Authors: natasha turak
Keywords: news, cnbc, companies, easts, major, growth, region, report, factors, middle, imf, outlook, driving, iran, oil, contraction, sanctions, east, slowdown


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Trump says Turkish cease-fire in Syria is ‘permanent,’ and he will lift sanctions

President Donald Trump announced Wednesday he is lifting sanctions on Turkey imposed after it invaded northern Syria. He said Ankara has guaranteed that a temporary cease-fire in the area will be “permanent.” He said the announcement of a permanent cease-fire “validates our course of action with Turkey that only a couple of weeks ago was scorned.” The president’s comments came hours after after Russian troops advanced toward northern Syria to facilitate the withdrawal of the Kurdish-led Syrian D


President Donald Trump announced Wednesday he is lifting sanctions on Turkey imposed after it invaded northern Syria.
He said Ankara has guaranteed that a temporary cease-fire in the area will be “permanent.”
He said the announcement of a permanent cease-fire “validates our course of action with Turkey that only a couple of weeks ago was scorned.”
The president’s comments came hours after after Russian troops advanced toward northern Syria to facilitate the withdrawal of the Kurdish-led Syrian D
Trump says Turkish cease-fire in Syria is ‘permanent,’ and he will lift sanctions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-23  Authors: tucker higgins
Keywords: news, cnbc, companies, sanctions, area, lift, ceasefire, trump, turkey, troops, turkish, syrian, permanent, syria, northern, russian


Trump says Turkish cease-fire in Syria is 'permanent,' and he will lift sanctions

President Donald Trump announced Wednesday he is lifting sanctions on Turkey imposed after it invaded northern Syria. He said Ankara has guaranteed that a temporary cease-fire in the area will be “permanent.”

“The sanctions will be lifted unless something happens that we are not happy with,” Trump said at the White House.

He said that the five-day cease-fire announced on Thursday will “indeed be permanent,” though he noted that “you would also define the word ‘permanent’ in that part of the world as somewhat questionable, we all understand that, but I do believe it will be permanent.”

Trump used the address to fire back against criticism, leveled even by members of his own party, that slammed his decision to pull American forces out of northern Syria as a major geopolitical misstep. The move abandoned the U.S.-backed Kurds, who led the ground fight against the Islamic State terrorist group’s caliphate, and delivered territory and influence to regional foes.

“Let someone else fight over this long blood-stained sand,” Trump said.

“The same people that I watched and read giving me and the United States advice were the people that I have been watching and reading for many years. They are the people who got us into the Middle East mess, but never had the vision or the courage to get us out,” Trump said. “They just talk.”

He said the announcement of a permanent cease-fire “validates our course of action with Turkey that only a couple of weeks ago was scorned.”

The president’s comments came hours after after Russian troops advanced toward northern Syria to facilitate the withdrawal of the Kurdish-led Syrian Democratic Forces fighters from the area. The Russian troops will help patrol the border area on the Syrian side of the Turkish border, according to Russian state media.


Company: cnbc, Activity: cnbc, Date: 2019-10-23  Authors: tucker higgins
Keywords: news, cnbc, companies, sanctions, area, lift, ceasefire, trump, turkey, troops, turkish, syrian, permanent, syria, northern, russian


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