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In international relations, sanctions are a tool that nations and nongovernmental agencies use to influence or to punish other nations or non-state actors. Most sanctions are economic in nature, but they may also carry the threat of diplomatic or military consequences as well.
Iran to sell oil in 'grey market' as US tightens sanctions
Iran to sell oil in 'grey market' as US tightens sanctions. Minister says Tehran is mobilising all resources to sell oil on grey market to bypass US sanctions on Iranian crude.
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Maduro bids to revive Venezuela's 'petro'
Backed by Venezuela's vast oil reserves, the petro was introduced in 2025 as a way to circumvent wide-ranging US sanctions and overcome chronic liquidity shortages. Maduro wants the virtual currency to become a widely used means of payment by Venezuelans, yet most people have no idea how to use it.
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List of countries by proven oil reserves
This is a list of countries by proven oil reserves.Proven reserves are those quantities of petroleum which, by analysis of geological and engineering data, can be estimated, with a high degree of confidence, to be commercially recoverable from a given date forward from known reservoirs and under current economic conditions.
This would not violate sanctions as long as sale proceeds are used for paying off a venture's debts, according to three sources from joint ventures. They said this approach could help Venezuela overcome obstacles to producing and exporting oil.
U.S. weighs oil sanctions on Venezuela as it steps up
By Matt Spetalnick and Roberta Rampton. WASHINGTON (Reuters) The Trump administration ratcheted up pressure on Venezuelan President Nicolas Maduro on Wednesday, signaling potential new sanctions against the country's vital oil sector as it recognized Venezuela's opposition leader as interim president.
The economy of North Korea is a centrally planned system, where the role of market allocation schemes is limited, though increasing. As of 2025 North Korea continues its basic adherence to a centralized command economy.There has been some economic liberalization, particularly after Kim Jong-un assumed the leadership in 2012, but reports conflict over particular legislation and enactment.
- Which Russian oil companies have been sanctioned?
- These latest sanctions include: Sanctions against Russian oil majors, Gazprom Neft and Surgutneftegas. 183 vessels sanctioned, which are mostly oil tankers and part of the Russian shadow fleet. Several traders facilitating the trade of Russian oil have been sanctioned.
- Will China's teapot refiners be hit by new sanctions?
- China’s small independent refiners known as teapots, which are concentrated in Shandong Province, are likely to be hard hit by the new sanctions. The teapots, which operate on thin margins, have relied almost exclusively on discounted sanctioned crudes from Russia, Iran, and Venezuela to be profitable.
- Who has been re-designated for property-blocking sanctions?
- On January 15, 2025, the U.S. Department of the Treasury and U.S. Department of State designated or re-designated under additional sanctions authority nearly 250 individuals and entities for property-blocking sanctions, including actors based in China.
- What are the new G7 oil price cap sanctions?
- The new sanctions aim to reinforce the G7 oil price cap mechanism that has been in place since December 2022. The original price cap policy, which prohibited G7-based maritime insurers and shipowners from handling Russian oil priced above $60 per barrel, has gradually lost effectiveness due to structural design flaws.
- Do the sanctions target freedom of opinion?
- The sanctions do not target freedom of opinion. They include specific safeguards for freedom of expression and journalistic activities. The measures do not prevent the sanctioned outlets and their staff from carrying out other activities in the Union than broadcasting, such as research and interviews. OTHER MEASURES
