Latest Sanctions and embargoes News

Iran oil minister: French oil giant Total pulls out of Iran

Aug. 20, 2018 8:53 AM EDT

TEHRAN, Iran (AP) — Iran's oil minister said on Monday that France's oil giant Total SA has officially pulled out of Iran after cancelling its $5 billion, 20-year agreement to develop the country's massive South Pars offshore natural gas field over renewed U.S. sanctions. The parliament's website

Turkey's president says country will defy economic threats

Aug. 18, 2018 7:55 AM EDT

ISTANBUL (AP) — Turkey's president said Saturday his country will stand strong against an "attempted economic coup" amid heightened tensions with the United States. Recep Tayyip Erdogan told thousands of supporters in Ankara that the country was being "threatened by the economy, sanctions, foreign...

US intensifies sanctions on Myanmar forces for rights abuses

Aug. 17, 2018 3:47 PM EDT

WASHINGTON (AP) — The United States intensified its sanctions against Myanmar on Friday, blacklisting four commanders and two units of security forces for their alleged role in violent campaigns against Rohingya Muslims and other ethnic minorities. Myanmar security forces have engaged in ethnic cleansing,...

World's biggest shipping company cautions on trade tensions

Aug. 17, 2018 4:52 AM EDT

COPENHAGEN, Denmark (AP) — Danish shipping group A.P. Moller-Maersk says it swung to a profit in the second quarter but cautioned about uncertainty related to global trade amid U.S. sanctions on major economies. Second-quarter revenue grew 24 percent to $9.5 billion, leading to a $26-million profit,...

Merkel, Putin share a headache: Donald Trump

Aug. 17, 2018 3:43 AM EDT

FRANKFURT, Germany (AP) — German Chancellor Angela Merkel and Russia's President Vladimir Putin will have plenty to talk about when they meet Saturday — thanks in no small part to U.S. President Donald Trump, whose sanctions and criticisms over trade, energy and NATO have created new worries for...

Nuke talks uncertain, US hits shippers with NKorea sanctions

Aug. 15, 2018 2:30 PM EDT

WASHINGTON (AP) — With little apparent progress in denuclearization talks with North Korea, the Trump administration on Wednesday stepped up pressure on the isolated nation by punishing three foreign companies accused of helping the North evade international sanctions. The Treasury Department imposed...

Hezbollah downplays US sanctions on Iran

Aug. 14, 2018 4:37 PM EDT

BEIRUT (AP) — The leader of Lebanon's militant Hezbollah movement said Tuesday that U.S. sanctions against Iran and his Iran-backed group will not have major effects on them and will not lead to regime change in Tehran. Hassan Nasrallah said in a speech marking the 12th anniversary of the end of the 34-day...

The Latest: Turkey says it will help firms hit by turmoil

Aug. 14, 2018 11:49 AM EDT

ANKARA, Turkey (AP) — The Latest on Turkey's currency crisis (all times local): 5:25 p.m. Turkey's finance minister says his government is working on steps to help banks and support companies affected by the currency crisis. Treasury and Finance Minister Berat Albayrak said: "We will make all kinds of...

Turkey tries to contain crisis but currency keeps falling

Aug. 13, 2018 12:26 PM EDT

ANKARA, Turkey (AP) — Turkey's central bank took action Monday to free up cash for banks as the country grapples with a currency crisis sparked by concerns over President Recep Tayyip Erdogan's economic policies and a trade and diplomatic dispute with the United States. The Turkish lira has nosedived over...

Iran's top leader says no war or talks with US

Aug. 13, 2018 10:09 AM EDT

TEHRAN, Iran (AP) — Iran's supreme leader said Monday that his country will neither go to war nor enter into negotiations with the United States as the Trump administration restores sanctions lifted under the 2015 nuclear deal. In remarks carried by state television, Ayatollah Ali Khamenei said "along with...