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Sunday World
7 days ago
- Sunday World
Kinahan Cartel chief Sean McGovern extradited from UAE on Irish military jet
A European Arrest Warrant (EAW) was issued in April 2022 by the High Court for McGovern to face criminal charges here. Sean McGovern and David Byrne who died in the Regency attack Kinahan cartel gangster Sean McGovern is on his way back to Ireland on a military plane from Dubai after dramatic developments occurred in the Gulf State in the last number of days. 'There has been major developments in this case in the Middle East, - Mr McGovern is on his way home ' a source has revealed. The Irish Air Corps flight needs to take at least two stops on the way to Dublin. Gardaí believe that Drimnagh man McGovern is Daniel Kinahan's right-hand man, and the US Treasury Department has claimed he "sells multi-kilogramme quantities of cocaine" on behalf of the cartel. He has been held in a prison in Dubai since his arrest last October and he had previously launched a series of legal challenges to the extradition process. He is also wanted on organised crime charges in this jurisdiction. His original detention came after protracted consultation between An Garda Síochána, Interpol and police and justice authorities in Dubai and Ireland. A European Arrest Warrant (EAW) was issued in April 2022 by the High Court for McGovern to face criminal charges here. UAE authorities did not act on the warrant, but a formal request from the Department of Justice to the UAE equivalent were later issued. McGovern's original arrest was seen by gardaí as a test case for the planned arrest and eventual extradition of cartel leader Kinahan on criminal charges. Sources say McGovern's arrest has been a "major breakthrough" in garda efforts to take down the senior leadership of the cartel. Since 2022, garda efforts have been concentrated on McGovern's extradition because, unlike the Kinahan leadership, he is facing criminal charges. Sean McGovern, pictured with his partner Anita Freeman Gardai want to charge him with the murder of Noel 'Duck Egg' Kirwan (62) was shot six times as he sat in his car on December 22, 2016 at St Ronan's Drive, Clondalkin, Dublin 22. He is believed to have been targeted because of perceived links to members of the Hutch family who were at war with the Kinahan cartel at the time. McGovern, a convicted drug dealer suffered minor injuries after he was shot during the Regency Hotel bloodbath in February, 2016, when his gang was attacked by the Hutch gang. He has been named in the Special Criminal Court by Detective Superintendent David Gallagher while giving evidence in the trial of Michael Crotty, who is accused of facilitating the murder of Noel Kirwan in 2016 by buying a mobile phone top-up for Sean McGovern. He has also been identified by the US sanctions against the Kinahan Organised Crime Group.n the US Treasury sanctions document McGovern connections with the Kinahan Organised Crime Group are laid out. Sean McGovern and David Byrne who died in the Regency attack They claimed that he was involved with a cover company being used by the gang to launder money. McGovern 'was designated for materially assisting, sponsoring, or providing financial, material, or technological support for, or goods or services to or in support of, Daniel Kinahan'. The document alleged that McGovern: 'is Daniel Kinahan's advisor and closest confidant, and evidence indicates that all dealings with Daniel Kinahan go through Sean McGovern. Sean McGovern also has managed communications on behalf of Daniel Kinahan, and he sells multi-kilogram quantities of cocaine'.
Yahoo
25-05-2025
- Business
- Yahoo
So what happens to America's 114 billion pennies once the US stops making them?
The American penny isn't going anywhere anytime soon. The US Treasury Department announced Thursday that it plans to start winding down production of the one-cent coin it has been minting for more than 230 years. But the penny will still remain legal tender, and will still be in use at thousands of retailers around the country for sometime to come. 'If we look at the experience in Canada, for the first year after they stopped making pennies, there's really no change in transactions,' Jeff Lenard, spokesperson for the National Association of Convenience Stores, told CNN. Convenience stores do more cash transactions than any other group, about 32 million a day, or about 20% of the total number of purchases by their customers, Lenard said. The National Retail Federation, which represents most major US store chains as well as thousands of small retailers, also said it anticipates its members will use pennies even after production stops at some point early next year, although it does anticipate that many will round cash transactions to the nearest nickel once the supply of pennies at banks starts to run short. 'Retailers' primary goal is serving customers and making this transition as seamless as possible,' said Dylan Jeon, senior director of government relations for NRF. There are an estimated 114 billion pennies currently in circulation, but they are 'severely underutilized' according to the Treasury department. Many are at home in coin jars or junk drawers, or some other forgotten location gathering dust. The math says that all those pennies could fill a cube roughly 13 stories high. Many people don't even take them as change, tossing them into the leave-a-penny-take-a-penny dishes at store checkouts. Lenard said the large number of pennies in circulation means that retailers won't necessary run out of them for a while. But eventually stores won't be able to get new rolls of pennies from their banks and will start rounding transactions up or down to the nearest nickel. The decision when to do that will rest with each retailer, not official government policy. Electronic transactions such as credit and debit card purchases, will continue to be down to the penny, Lenard said, with only cash transactions being rounded. Even in countries like Canada, where penny production has been discontinued, the penny remains legal tender today. Canada's finance ministry said pennies retain their value for transactions 'indefinitely' despite the fact that it stopped making the coin in 2012. If a customer wants to use pennies to complete a transaction, most retailers are likely to allow them, Lenard said. 'There's a saying in retail, 'Never lose a customer over a penny,'' he said. 'I never really thought of it in these terms, but it applies even more here. I think if someone wants to pay with pennies, most retailers will err on the side of making those customers happy.'
See - Sada Elbalad
24-05-2025
- Business
- See - Sada Elbalad
US Lifts Economic Sanctions on Syria
Israa Farhan The United States officially lifted its longstanding economic sanctions on Syria on Friday, marking a significant shift in American foreign policy and opening the door for renewed international investment in the war-torn country following the departure of Bashar al-Assad. According to a statement from Treasury Secretary Scott Besant, the move aims to help Syria transition into a peaceful, stable, and prosperous nation. The US Treasury Department announced the issuance of a general license easing certain sanctions, with officials describing it as part of a broader plan to support economic recovery and reconstruction. A senior official at the State Department confirmed that Secretary of State Marco Rubio had signed off on a 180-day waiver of sanctions imposed under the Caesar Act. The decision follows an earlier announcement by President Donald Trump in Riyadh, where he expressed his intention to end sanctions on Syria as part of a wider regional policy realignment. US sanctions on Syria have been in place for decades, gradually expanding since 1979 to cover a broad range of areas, including aid, trade, and financial transactions. These restrictions intensified during the civil war and targeted key sectors and figures in the Syrian regime. The lifting of sanctions is being viewed as a critical moment for Syria's economic future. Citizens have expressed cautious optimism that their country may now have a real opportunity for recovery and growth after years of isolation and devastation. On the official front, Syrian Foreign Minister Asaad al-Shibani welcomed the US decision, calling it a pivotal turning point for Syria's reentry into the global economy. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies
Daily News Egypt
24-05-2025
- Business
- Daily News Egypt
US eases Syria sanctions; Damascus welcomes move
The United States administration under President Donald Trump on Friday granted Syria comprehensive exemptions from US sanctions, a development aimed at fulfilling a pledge to lift decades-old restrictions on the country, which has experienced conflict for more than 14 years. The Syrian government in Damascus welcomed the decision, describing it as an initial phase in implementing President Trump's commitment to lift sanctions. This commitment was reportedly made at the Saudi-American Investment Forum in Riyadh approximately two weeks prior. Damascus stated the move was 'a step towards alleviating the humanitarian and economic suffering' of the Syrian people. A directive from the US State Department on Friday nullified a range of stringent sanctions imposed by Congress in 2019. It also suspended, for a period of six months, a US Treasury Department measure that applied sanctions to any individual or entity dealing with a specified group of Syrian individuals and entities, including the Syrian Central Bank. Details of Six-Month Exemptions and Sanctions Lifted In a related move, the US Treasury Department announced the lifting of sanctions on Syrian President Ahmed al-Shara and his Interior Minister Anas al-Khattab. This followed the issuance of General Licence No. 25 (GL 25), which provides for the immediate easing of sanctions on Damascus and permits previously prohibited transactions. The licence, issued by the Treasury's Office of Foreign Assets Control (OFAC), specifically lifts sanctions on the Syrian Central Bank, Syrian Arab Airlines, the Radio and Television General Organisation, and the ports of Latakia and Tartous, alongside other individuals and entities. General Licence 25 was issued to provide immediate sanctions relief, consistent with President Trump's declaration to cease all sanctions imposed on Damascus. A US Treasury Department statement indicated that GL 25 authorises transactions previously barred under Syrian sanctions regulations, effectively lifting these sanctions. It also aims to stimulate new investments and private sector activity, which is in line with President Trump's 'America First' strategy. US Secretary of State Marco Rubio said in a statement that he had 'issued a 180-day waiver from sanctions imposed on Syria under the Caesar Act to ensure that sanctions do not hinder investments and to facilitate the provision of electricity, energy, water, healthcare, and humanitarian relief efforts.' Rubio added, 'Today's moves represent the first step in realizing the President's vision for a new relationship between Syria and the United States,' noting that Trump 'made it clear that he expects that the easing of sanctions will be followed by action from the Syrian government.' These developments coincided with Washington's announcement that Thomas Barrack, US Ambassador to Turkey, assumed the role of Special Envoy to Syria on Friday. Background on US Sanctions Policy US sanctions on Syria have historically been multifaceted, encompassing legislation passed by Congress, executive orders from the President, measures imposed by the Treasury Department in consultation with the State Department, and prohibitions on non-humanitarian trade between Damascus and Washington. Additional sanctions were aimed at deterring third countries from engaging in business with Syria. Sanctions on the Syrian Central Bank reportedly persisted even after the fall of former President Bashar al-Assad's regime. These measures prevented the Syrian financial system from accessing global banking networks and hindered efforts to revive the Syrian economy through international financial channels. Congressional sanctions, notably the 'Caesar Act,' were designed to isolate Syria's former leadership by barring anyone conducting commercial transactions with them from the global financial system. These sanctions also specifically impede post-war reconstruction. While they can be waived for 180 days via executive order, the Associated Press reported they could likely be reimposed after six months. Economic Reconstruction and Conditions for Further Relief The new US licence encompasses the lifting of sanctions on the Commercial Bank of Syria, the Syrian Gas Company, and the Syrian Petroleum Company, in addition to the General Organisation of Radio and Television, the General Company for the Port of Latakia, and numerous banking and logistical institutions. The Treasury stated that this authorisation is intended to support the reconstruction of the Syrian economy, its financial sector, and infrastructure, in line with US foreign policy objectives. Attracting new investment to Syria and supporting the new Syrian government are deemed essential for this purpose, with GL 25 facilitating previously restricted economic activities. According to Associated Press, the US State Department last week outlined a three-stage roadmap for further sanctions relief. This begins with an initial temporary and partial easing, contingent upon Syria meeting comprehensive conditions for any future, more permanent, easing or lifting of sanctions. Conditions for reaching the second stage include the removal of Palestinian factions from Syria, the new government assuming control of detention centres holding 'ISIS' fighters, and the integration of the US-backed Kurdish force (Syrian Democratic Forces, 'SDF') into the Syrian army. To reach the third stage, the US administration requires Syria to join the Abraham Accords, normalising relations with Israel, and to provide evidence of the destruction of chemical weapons allegedly possessed by former President Bashar al-Assad's regime. Syrian Government Reaction On Saturday, the Syrian Foreign Ministry formally welcomed the US government's decision. In a statement published on its 'X' (formerly Twitter) platform account, the Ministry acknowledged the 'issuance of an exemption from mandatory sanctions under the Caesar Act and the circulation of General License No. 25 concerning Syria (GL 25).' It described the decision as 'a positive step in the right direction to alleviate the humanitarian and economic suffering in the country.' The Ministry affirmed that Damascus 'extends its hand to all who wish to cooperate on the basis of mutual respect and non-interference in internal affairs,' believing that 'dialogue and diplomacy are the best way to build balanced relations that achieve the interests of peoples and enhance security and stability in the region.' The statement continued: 'Syria also expresses its appreciation to all countries, institutions, and peoples that stood by it, and affirms that the next stage will be a stage of rebuilding what the former regime destroyed and restoring Syria's natural position in the region and the world.' Earlier this month, Syrian Foreign Minister Asaad al-Shaibani reported an agreement to form rapid technical teams following President Trump's sanctions-lifting announcement in Riyadh. European Union Considers Parallel Sanctions Review Following the US move, EU foreign policy chief Kaja Kallas last week proposed a further easing of European sanctions on Syria. This would allow funding for Syrian ministries in areas such as reconstruction and migration. A document dated 14 May, seen by Reuters, indicated the EU would permit member states to finance Syrian Ministries of Defence and Interior for cooperation on reconstruction, capacity building, counter-terrorism, and migration. A special clause would also grant EU member states greater flexibility in dealing with Syrian state-owned entities concerning the destruction of chemical weapons. The new EU proposal would lift sanctions on the Commercial Bank of Syria while maintaining measures against individuals linked to the former Assad administration. EU foreign ministers are scheduled to discuss relations with Damascus at a meeting in Brussels this week, including the potential lifting of sanctions on the Syrian Central Bank. Germany, Italy, the Netherlands, and Austria circulated a joint paper advocating for the removal of sanctions on the Syrian Central Bank and its financial institutions. 'The goal is to provide additional space for socio-economic recovery,' the four nations wrote. The EU has already eased some energy, transport, and reconstruction-related sanctions, along with associated financial transactions. However, certain member states are pushing for more extensive relief to facilitate Syria's transition process.
France 24
24-05-2025
- Business
- France 24
Syria hails US lifting of Assad-era sanctions
US President Donald Trump surprised many with his announcement of the new policy on a Gulf tour earlier this month, during which he shook hands with Syria's jihadist-turned-interim President Ahmed al-Shara. Trump said he wanted to give the war-torn country's new rulers "a chance at greatness" after their overthrow of longtime ruler Bashar al-Assad in December. "The Syrian Arab Republic welcomes the decision from the American government to lift the sanctions imposed on Syria and its people for long years," a foreign ministry statement said. It described the move as "a positive step in the right direction to reduce humanitarian and economic struggles in the country". US sanctions were first imposed on Syria in 1979 under the rule of Bashar al-Assad's father Hafez. They were sharply expanded after the bloody repression of anti-government protests in 2011, which triggered the country's civil war. Washington imposed sweeping sanctions on financial transactions with Syria and made clear it would use sanctions to punish anyone involved in reconstruction as long as Assad remained in power. Since Assad's ouster, the new administration has been looking to build relations with the West and roll back sanctions, but some governments had expressed reluctance, pointing to the Islamist past of leading figures. Sharaa himself was once considered a "terrorist" by Washington, with a $10 million bounty on his head. On Friday, US Treasury Secretary Scott Bessent said his country was "implementing authorisations to encourage new investment into Syria". The sanctions relief extends to Syria's new government with conditions that the country not provide safe haven for terrorist organisations and ensure security for religious and ethnic minorities, the US Treasury Department said. Concurrently, the US State Department issued a 180-day waiver for the Caesar Act to make sure sanctions do not obstruct foreign investment into Syria. The 2020 legislation severely sanctioned any entity or company cooperating with the ousted government. 'New relationship' Secretary of State Marco Rubio said the waiver would "facilitate the provision of electricity, energy, water and sanitation, and enable a more effective humanitarian response across Syria". The authorisation covers new investment in Syria, provision of financial services and transactions involving Syrian petroleum products. "Today's actions represent the first step on delivering on the president's vision of a new relationship between Syria and the United States," Rubio said. Syria's 14-year civil war killed over half a million people and destroyed much of the country's infrastructure. Rubio said the lifting of sanctions aims at permitting favourable investments into the country and promote "recovery and reconstruction efforts". "The president has made clear his expectation that relief will be followed by prompt action by the Syrian government on important policy priorities," he added. The European Union announced the lifting of its sanctions on Syria earlier this month. The move primarily targets Syria's banking sector, which was previously barred from accessing the international capital market. It also includes the unfreezing of the assets of Syrian central bank. Analysts say a full lifting of sanctions may still take time, as some restrictions are acts that need to be reversed by Congress, while Syrian authorities need to ensure an attractive environment for foreign investment. © 2025 AFP
