Saudi Arabia and Iraq are sending more crude oil to Europe to boost the region's oil refineries in an effort to aid the pivot away from Russian oil. Over 1 million barrels a day of crude oil -- a number that has doubled from a year ago -- has crossed into Europe from the Middle East in the first three weeks of July through a pipeline that crosses Egypt, data compiled by Bloomberg reported July 22. Most of the oil shipments into Europe are from Saudi Arabia, where companies can deliver the oil via the SuMed pipeline or on smaller ships through the Suez Canal. Iraq is sending its oil via the Suez Canal, with 1.2 million barrels a day being shipped toward the canal from the Persian Gulf in the first three weeks of July, Bloomberg said.
The EU dropped Cham Wings Airlines from its Belarus sanctions regime, the European Council announced. The Syrian operator was listed in December for facilitating the transport of migrants to Belarus who sought to enter the EU. "The Council took the decision to delist Cham Wings, as it considered that the restrictive measures brought the desired effect with regards to this entity," an EU spokesperson said, Reuters reported July 20. "According to information presented to the Council, Cham Wings ceased its involvement in the activities for which it was listed."
A new Senate Bill could require the U.S. to reimpose terrorism sanctions on the Revolutionary Armed Forces of Colombia and others associated with the group (see 2112020014). The bill, introduced by Sens. Ted Cruz, R-Texas, and Marco Rubio, R-Fla., would re-designate the FARC as a Foreign Terrorist Organization and as a Specially Designated Global Terrorist, Cruz said in a July 22 emailed news release. Cruz said the Biden administration’s decision to “dismantle” the sanctions “has already created catastrophes” and removed accountability for the group. “My bill will begin to repair the damage of this decision,” Cruz said.
President Joe Biden last week extended for one year beyond July 26 a national emergency that authorizes certain sanctions against Mali, the White House said. Mali continues to pose an "unusual and extraordinary threat to the national security and foreign policy" of the U.S., the White House said.
The Office of Foreign Assets Control on July 22 updated a Russia-related entry on the Specially Designated Nationals List. The entry is for Joint Stock Company North Western Regional Center of Almaz Antey Concern Obukhovsky Plant. The agency didn't immediately provide more information.
The Office of Foreign Assets Control on July 22 issued two new Russia-related general licenses.
As part of its seventh sanctions package on Russia, the European Council added 48 individuals and nine entities to its sanctions list, including Russia's largest bank Sberbank and high-ranking members of the political class, Russian military and cultural establishment. The newly listed entities are Avlita Stevedoring; Nightwolves MC, a nationalist motorcycle club; Alexander Gorchakov Public Diplomacy Fund; Federal Agency for the Commonwealth of Independent State Affairs, Compatriots Living Abroad and International Humanitarian Cooperation; Russkiy Mir Foundation; JSC Research and Production Assocation "Kvant"; Sberbank; Forss Group; and All-Russia "Young Army" Military Patriotic Social Movement.
India has substantially increased imports of Russian crude oil in the last few months and could start buying even more, said Reid l’Anson, a commodity economist with Kpler, during a July 22 webinar hosted by the Atlantic Council. India is on pace this month to buy 1 million Russian barrels per day, a significant surge from pre-invasion levels, l’Anson said.
The U.S. should shift away from only using export controls as a technology competition strategy against China and instead turn to domestic investment, Ling Chen, a Wilson Center China fellow, said in a July report funded by the think tank. “Weaponizing” supply chains will only “galvanize” China, the report said, causing it to “accelerate” its technological development. “The effect of the tech war may be counterproductive for the United States,” the report said.
The U.K. in a pair of financial sanctions notices amended one entry under its Libya sanctions regime and six under its Russian sanctions regime. On the Libya sanctions list, the Office of Financial Sanctions Implementation amended the entry for Abu Zayd Umar Dorda, the director of Libya's external security organization. Under the Russian restrictions list, OFSI amended the entries for individuals Irina Sergeyevna Bubnova, member of the Strategic Culture Foundation; Sergei Sergeivich Ivanov, Alrosa board chairman; and Natalya Petrovna Skorokhodova, member of the Strategic Culture Foundation. OFSI also amended the entries for entities Djeco Group LP, Major LLP and Photon Pro LLP.