Latest Trade barriers News

US sanctions Asian firms over North Korean fuel shipments

Oct. 07, 2022 09:11 AM EDT

WASHINGTON (AP) — In the midst of increasingly aggressive North Korean missile launches this week, the U.S. on Friday imposed sanctions on people and firms in Asia accused of helping North Korea procure fuel in violation of U.N. sanctions. Treasury's Office of Foreign Assets...

OPEC+ makes big oil cut to boost prices; pump costs may rise

Oct. 05, 2022 13:59 PM EDT

FRANKFURT, Germany (AP) — The OPEC+ alliance of oil-exporting countries decided Wednesday to sharply cut production to support sagging oil prices, a move that could deal the struggling global economy another blow and raise politically sensitive pump prices for U.S. drivers just ahead of key...

EU agrees on price cap for Russian oil over Ukraine war

Oct. 05, 2022 08:20 AM EDT

BRUSSELS (AP) — European Union countries agreed Wednesday to impose a price cap on Russian oil and other new sanctions after Moscow illegally annexed four regions in Ukraine amid its monthslong war, EU officials said. Diplomats struck the deal in Brussels that also includes curbs...

Allies aim for risky Russian oil price cap as winter nears

Oct. 02, 2022 00:04 AM EDT

WASHINGTON (AP) — U.S. officials celebrated in early September when top allies agreed to back an audacious, never-before-tried plan to clamp down on Vladimir Putin’s access to cash as he wages war on Ukraine. The idea sounded simple enough: The countries would pay only cut-rate...

What the war in Ukraine means for Asia's climate goals

Oct. 01, 2022 18:31 PM EDT

NEW DELHI, India (AP) — The queues outside petrol pumps in Sri Lanka have lessened, but not the anxiety. Asanka Sampath, a 43-year-old factory clerk, is forever vigilant. He checks his phone for messages, walks past the pump, and browses social media to see if fuel has arrived....

Japan PM condemns Russian annexation of parts of Ukraine

Sep. 30, 2022 21:15 PM EDT

TOKYO (AP) — Japanese Prime Minister Fumio Kishida, in telephone call Friday with Ukrainian President Volodymyr Zelenskyy, condemned Russia’s new annexation of parts of Ukraine as illegal and a violation of the country's sovereignty. “I told him that the process that Russia...

Russia's nuclear trade with Europe flows despite Ukraine war

Sep. 29, 2022 10:54 AM EDT

PARIS (AP) — While the European Union has agreed to curtail its use of Russian oil and gas, its member nations continue to import and export nuclear fuel that is not under EU sanctions — to the chagrin of the Ukrainian government and environmental activists. A cargo ship...

EU plans Russia trade sanctions over 'sham' Ukraine votes

Sep. 28, 2022 11:26 AM EDT

BRUSSELS (AP) — European Union countries should impose “biting sanctions” on Russian trade and hit officials responsible for “sham referendums” held in parts of Ukraine as Moscow ramps up the war, senior EU officials said Wednesday. European Commission President Ursula von...

North Korea denies sending arms to Russia amid Ukraine war

Sep. 21, 2022 23:46 PM EDT

SEOUL, South Korea (AP) — North Korea says it hasn’t exported any weapons to Russia during the war in Ukraine and has no plans to do so, and said U.S. intelligence reports of weapons transfers were an attempt to tarnish North Korea's image. In a state media report Thursday, an...

China keeps West guessing about economic pressure on Russia

Sep. 13, 2022 23:04 PM EDT

BEIJING (AP) — Chinese leader Xi Jinping is keeping the West guessing about whether Beijing will cooperate with tougher sanctions on Russia as he meets President Vladimir Putin a year after declaring they had a “no limits” friendship ahead of the Kremlin’s invasion of Ukraine. ...