logo
Russian diesel continues to flow to Syria on US-sanctioned tankers, data shows

Russian diesel continues to flow to Syria on US-sanctioned tankers, data shows

Reuters13-03-2025

MOSCOW, March 13 (Reuters) - A second tanker under U.S. sanctions is moored near the Syrian port of Banias and may deliver a diesel cargo from Russia, data shows, as Moscow and Damascus strengthen ties.
Moscow backed former Syrian autocrat Bashar al-Assad during more than a decade of civil war in Syria, but wants to improve relations with the new interim leader, Ahmed al-Sharaa, as Russia wants to retain the use of its two military bases in the country.
Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here.
According to LSEG data, the Barbados-flagged Proxima, with around 30,000 metric tons of diesel departed from Primorsk in February and is drifting near Banias, as it waits to discharge its cargo.
The Proxima was placed under U.S. sanctions on January 10, along with around 180 other vessels.
Last week, the tanker Prosperity, also under U.S. sanctions, arrived in Syria's coastal waters, carrying about 37,000 metric tons of diesel loaded in the Russian Baltic port of Primorsk.
Both tankers turned off their ship tracking devices on arrival, concealing their operations, shipping data shows.
Recently, Syria received a new shipment of its local currency printed in Russia and more shipments were expected in the future in another sign of improving ties between Moscow and Syria's new rulers.
Western countries, including the U.S., EU and Britain are also easing sanctions pressure on Syria.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Lutnick says US-China talks going well, could run into Wednesday
Lutnick says US-China talks going well, could run into Wednesday

Reuters

time34 minutes ago

  • Reuters

Lutnick says US-China talks going well, could run into Wednesday

LONDON, June 10 (Reuters) - U.S. Commerce Secretary Howard Lutnick said trade talks with Chinese officials were going well and he hoped they would end on Tuesday night, but said they could run into Wednesday. "I think the talks are going really, really well. We're very much spending time and effort and energy - everybody's got their head down working closely," Lutnick told reporters at Lancaster House in London, where teams from both countries have met for two days. "I hope they end this evening, but if they need be, we'll be here tomorrow, but I hope they end this evening," he added.

Top CFPB enforcement official to resign, citing 'devastating' shifts under Trump
Top CFPB enforcement official to resign, citing 'devastating' shifts under Trump

Reuters

timean hour ago

  • Reuters

Top CFPB enforcement official to resign, citing 'devastating' shifts under Trump

June 10 (Reuters) - The top remaining enforcement official at the U.S. Consumer Financial Protection Bureau has tendered her resignation, saying the White House's overhaul of the agency had made her position untenable, according to an email seen by Reuters. Acting Enforcement Director Cara Petersen, who has served at the agency since its creation nearly 15 years ago, said that current leadership under President Donald Trump "has no intention to enforce the law in any meaningful way." "I have served under every director and acting director in the bureau's history and never before have I seen the ability to perform our core mission so under attack," Petersen wrote in an email. "It has been devastating to see the bureau's enforcement function being dismantled through thoughtless reductions in staff, inexplicable dismissals of cases, and terminations of negotiated settlements that let wrongdoers off the hook." Petersen's departure comes four months after the agency's enforcement and supervision chiefs also resigned amid efforts by President Donald Trump to dismantle the CFPB. An agency spokesperson and Petersen did not immediately respond to requests for comment. In addition to seeking to cut the CFPB's workforce by about 90 percent, acting Director Russell Vought and chief legal officer Mark Paoletta have said they will slash agency enforcement and supervision and have dropped major CFPB enforcement cases en masse, including against Capital One (COF.N), opens new tab and Walmart (WMT.N), opens new tab. The agency has even revised some cases already settled under the prior administration. The dramatic changes come as Republicans have complained for years the CFPB, created in the aftermath of the global financial crisis, is too powerful and lacks oversight. Democrats and agency backers contend it plays a critical role policing financial markets on behalf of consumers. "While I wish you all the best, I worry for American consumers," said Petersen in her email. A federal appeals court in Washington has yet to decide on the Trump administration's effort to undo a court injunction blocking the agency from firing most agency staff.

Brazil's fiscal package to include higher tax on interest on equity
Brazil's fiscal package to include higher tax on interest on equity

Reuters

timean hour ago

  • Reuters

Brazil's fiscal package to include higher tax on interest on equity

BRASILIA, June 10 (Reuters) - Brazil's Finance Minister Fernando Haddad said on Tuesday that the government's new fiscal package includes an increase in the income tax rate levied on so-called interest on equity (JCP) payments to 20% from 15%. JCP is a form of shareholder remuneration that allows companies to deduct such payments from their corporate tax base. Speaking to reporters, Haddad said that the decision to include the measure - previously proposed by the government but not voted on by Congress - came at the request of lawmakers. Haddad also confirmed that the fiscal package includes the unification of income tax rates on financial investments at 17.5%, replacing the current sliding scale of 15% to 22.5%, which varies according to the investment's holding period. The new rate would apply to all investments, including stocks and bonds, except those currently exempt from income levy, which would begin to be taxed at 5%, as Haddad had already disclosed on Sunday. The minister, who spoke after returning from a meeting with President Luiz Inacio Lula da Silva, said the additional revenue generated by the package would be used primarily to revise the previously imposed financial operation tax (IOF) hike on forfait operations. The IOF decree, which had been introduced to boost public revenues and also raised the tax on private pension funds and some credit and foreign exchange transactions, triggered strong pushback from both Congress and market players, prompting the government to seek an alternative path as lawmakers threatened to overturn the measure. Haddad defended the new fiscal measures on Tuesday, arguing that they are likely to support the strengthening of the Brazilian currency, pave the way for interest rate cuts, and help ensure compliance with this year's and 2026 fiscal targets.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store