US Treasury has proposed a rule to sever MBaer Merchant Bank's access to the US financial system, due to its financial support to illicit actors linked to Russia and Iran
Newsquawk Staff ·
US Treasury has proposed a rule to sever MBaer Merchant Bank's access to the US financial system, due to its financial support to illicit actors linked to Russia and Iran.
What it means
The US Treasury's proposed rule to cut MBaer Merchant Bank's access to the US financial system highlights a significant escalation in sanctions targeting entities linked to illicit activities associated with Russia and Iran. This development could impact financial stability and investor sentiment, potentially affecting commodity prices, particularly in energy markets, as the geopolitical landscape shifts amid heightened tensions.
Sources
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- Satellite imagery indicates significant damage to the main refining unit at Saudi Arabia's Ras Tanura (550k BPD) refinery following a strike by Yemeni armed forces, leaving the unit inoperable, Fars reports
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