UAE delivers 10 aid convoys to Gaza

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The United Arab Emirates has sent ten humanitarian aid convoys to the Gaza Strip as part of its ongoing relief effort. This campaign, carried out under the "Gallant Knight 3" operation, seeks to offer critical food supplies, medical aid, and other requirements to Palestinians affected by the ongoing situation. Despite the challenges on the ground, the UAE's leadership has reaffirmed its commitment to humanitarian assistance, ensuring that relief reaches those in critical need. These convoys are part of a larger campaign to alleviate suffering in Gaza, where thousands of families are facing shortages of basic commodities. UAE relief teams, working in collaboration with international humanitarian groups, have been critical in ensuring the safe and efficient distribution of aid. Medical supplies and food packages have been prioritized, especially for children, the elderly, and the most vulnerable people affected by the disaster. The UAE has long been at the forefront of huma...
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USA slaps sanction son Russian oil firm because of Venezuela

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The US Treasury Department has included in the sanctions list SDN (the most stringent, blocking sanctions) Rosneft Trading subsidiary, Rosneft Trading, the US agency announced.

 Swiss Rosneft Trading is included in the sanctions list for "work in the oil sector of the Venezuelan economy."  Rosneft Trading assets in the US jurisdiction must be blocked, American persons are prohibited from doing any business with it.

 However, US sanctions have implications for non-US counterparties Rosneft Trading.  The Venezuelan sanctions program, which runs Rosneft Trading, implies the possibility of imposing sanctions against individuals and companies from any jurisdiction that provide "substantial assistance" to the SDN list.  In other words, a European or Asian company runs the risk of being sanctioned by the United States if it continues to cooperate with Rosneft Trading.

 Individuals and legal entities from outside the United States can curtail cooperation with Rosneft Trading without risk of sanctions for themselves until May 20, 2020, the US Treasury said.  During this period, it is possible to continue operations under existing contracts, but it is impossible to conclude new transactions.

Rosneft Trading President is also on the list. Also on the SDN list is Vice President of Refining, Petrochemicals, Commerce and Logistics of Rosneft Didier Kasimiro.  Casimiro Belgian is listed as president of Rosneft Trading S.A.  in the corporate registry of Switzerland.

Rosneft Trading was registered in Geneva in 2011 with the goal of implementing overseas projects.  Vice President Rosneft Trading S.A.  indicated by Richard Daniel, CEO - Marcus Cooper, a former British BP trader.  According to the wording of the US Treasury, they put themselves at risk of sanctions if they continue to work at Rosneft Trading.

 According to Rosneft, in 2018 it exported about 68 million barrels.  oil (7.6% of total exports) through international trading.  This includes Rosneft Trading, but not only.  According to Forbes magazine's calculations, Rosneft Trading took third place in the ranking of Russian oil buyers in 2018 with a total of $ 12.5 billion in contracts (that year it bought oil only from the parent company).  According to Rosneft’s information, Rosneft Trading is engaged not only in Venezuelan oil, but also purchases oil on an prepaid basis in Iraqi Kurdistan, carries out mutual oil supplies with Thailand, and supplies LNG to Egypt.

 Sanctions against Rosneft Trading do not extend to Rosneft’s parent company (except for existing sectoral sanctions), the US Treasury emphasizes.

 In a statement to Rosneft in connection with the imposition of sanctions against the subsidiary, the new restrictions are called illegal.  The company emphasized that the US Treasury did not provide any evidence that Rosneft had somehow violated the sanctions regime against Venezuela.  The company notes that US sanctions are “an act of legal arbitrariness,” recalling that Rosneft has become a major investor in the Venezuelan economy long before the imposition of US sanctions.  The company's activities in Venezuela are associated with the implementation of production projects and trading (oil supplies on a prepaid basis and counter deliveries of oil products), carried out under contracts concluded before the imposition of sanctions, and is aimed at ensuring the return of previously made investments, Rosneft emphasized.

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