The U.S. removed Karina Rotenberg, wife of sanctioned Russian oligarch Boris Rotenberg, from its sanctions list. Rotenberg, a U.S. citizen since at least 2013, had been sanctioned in 2022 despite continued international travel and significant joint assets with her husband, including European real estate and equestrian holdings. This action comes as the U.S. simultaneously expanded sanctions on other Russian individuals and entities, while the EU concurrently lifted sanctions on another sanctioned oligarch and his family. The reasons behind the U.S. decision to lift sanctions on Karina Rotenberg remain unstated in this report.
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In a Newsmax interview, Trump speculated that Russia may be stalling in the Ukraine conflict, drawing parallels to his own past business tactics. Following recent peace talks in Riyadh, a purported Black Sea ceasefire was announced, contingent upon US sanctions relief according to the Kremlin, a condition omitted from the White House statement. A previously brokered agreement to halt infrastructure strikes was swiftly broken by Russia. These events highlight the volatile nature of ongoing peace negotiations and the discrepancies in reporting between involved parties.
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On February 10th, hundreds of thousands of Iranians rallied for the 46th anniversary of the 1979 Islamic Revolution, using the event to directly challenge President Trump’s “maximum pressure” campaign. Iranian officials, including President Pezeshkian and Vice President Aref, denounced U.S. sanctions and hypocrisy, emphasizing national sovereignty and rejecting any notion of negotiation with Washington. Despite economic hardship, the demonstrations projected unwavering defiance against U.S. pressure. This display of resilience underscores the increasingly tense relationship between the U.S. and Iran.
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Sanctioned Russian senator Suleiman Kerimov, through the Delaware-registered Heritage Trust, secretly held approximately 1% of SpaceX stock from 2017 until at least summer 2022, potentially forfeiting a stake worth $3.5 billion. This occurred despite US sanctions imposed due to Kerimov’s close ties to Vladimir Putin. It remains unclear if SpaceX was aware of Kerimov’s ownership, as inquiries to involved parties went unanswered. The revelation highlights a significant loophole in existing sanctions, allowing a high-profile sanctioned individual to maintain substantial investments in a prominent American company.
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Increased US sanctions targeting Gazprombank and numerous intermediary companies supplying Russia have severely impacted Russian-Chinese trade payments. Chinese banks, wary of US actions and potential violations, are delaying and scrutinizing yuan-denominated transactions, creating significant payment hurdles for Russian exporters. This cautious approach by Chinese financial institutions follows the blacklisting of approximately 100 companies, including some Chinese firms, for allegedly circumventing sanctions. The resulting payment delays and increased scrutiny contributed to a 7% decline in Russian exports during the final quarter of 2024.
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The imposition of new US sanctions on January 10th caused a significant increase in tanker freight rates for Russian oil, disrupting trade between Russia and its major Asian buyers. This surge in costs, coupled with buyers’ avoidance of sanctioned vessels, created a substantial price gap, effectively halting March deliveries of Russian ESPO Blend crude to China and India. Consequently, the volume of Russian oil offered to these countries has dropped dramatically, impacting both nations who had previously become significant importers of Russian oil. This disruption underscores the sanctions’ impact on the global oil market and Russia’s ability to export its oil.
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Following Maduro’s contested re-election, the U.S. increased the bounty on him to $25 million, with similar rewards offered for other high-ranking Venezuelan officials. Simultaneously, new visa restrictions were imposed on officials deemed responsible for undermining Venezuela’s electoral process and human rights abuses. These actions, coordinated with Canada, the EU, and the UK, target individuals enabling Maduro’s alleged repression and fraudulent claim to power. The sanctions include eight Venezuelan officials from key economic and security sectors. This international effort rejects Maduro’s legitimacy and supports the Venezuelan people’s desire for new leadership.
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The United States increased its reward to $25 million for information leading to the arrest of Venezuelan President Nicolás Maduro, citing narcotics and corruption charges. This announcement coincided with Maduro’s controversial inauguration for a third term, met with widespread international condemnation and further sanctions from the UK, EU, and Canada. These actions target Maduro and other high-ranking Venezuelan officials for undermining democracy and human rights. Maduro, however, maintains his innocence and blames the country’s economic woes on US sanctions.
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In response to election interference attempts, the U.S. Treasury Department imposed sanctions on Iranian and Russian entities. These entities, linked to the IRGC and GRU respectively, allegedly sought to influence the 2024 election through disinformation campaigns and the creation of deepfakes targeting the U.S. electorate. Both Iran and Russia denied the allegations. The sanctions highlight the U.S.’s commitment to safeguarding its democratic processes from foreign interference.
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The Ursa Major, a Russian cargo ship under US sanctions, sank in the Mediterranean Sea following an engine room explosion. Fourteen crew members were rescued and brought to Spain, while two remain missing. The vessel, owned by Oboronlogistika, was reportedly en route to Vladivostok carrying heavy cargo. Its proximity to another sanctioned Russian ship, the Sparta, and its owner’s involvement in transporting cargo to Tartous, Syria, raise further questions.
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John Q. Hosedrinker