Economic sanctions

Turkey has warned the United States that the embargo imposed on Iran is a "mistake" and Washington "does not have the right" to force other countries to implement its unilateral decision, Turkish Foreign Minister has said.

On 5 July 2018, the Council prolonged economic sanctions targeting specific sectors of the Russian economy until 31 January 2019.

This decision follows an update from President Macron and Chancellor Merkel to the European Council of 28-29 June 2018 on the state of implementation of the Minsk agreements, to which the sanctions are linked.

The American Hellenic Council of California (AHC), a Los Angeles-based Greek-American advocacy organization, has launched a campaign to support House Resolution 5508 - legislation to lift the US arms embargo on Cyprus introduced by Washington in 1987.

A Turkish banker convicted of helping Iran evade U.S. economic sanctions deserves a lenient sentence because he at most had a small role “in someone else’s mammoth plot,” his lawyers said.

World financial leaders pleaded for an endorsement of free trade on March 19 amid worries about U.S. metals tariffs and looming trade sanctions on China, but Trump administration officials said they would not sacrifice U.S. national interests.

The UN Security Council resolution, in which Iran has been named as an accomplice to the missile strikes of Yemeni rebels against Saudi Arabia, has been blocked by Russia, the news agencies reported.

China exported no oil products to North Korea in November, Chinese customs data showed, apparently going above and beyond sanctions imposed earlier this year by the United Nations in a bid to limit petroleum shipments to the isolated country.

European leaders agreed to extend economic sanctions against Russia by 6 months. European Council President Donald Tusk revealed that at the summit on Thursday, EU countries have agreed to resume economic sanctions against Russia again, the France press reported.

 European Union foreign ministers approved economic sanctions including an arms embargo on Venezuela on Monday, blaming regional elections last month for deepening the South American country's crisis, Reuters reported.

New research by the Austrian Institute of Economic Research (WIFO) suggests the EU's economic sanctions against Russia introduced three years ago have cost European countries billions of euro.