Zambian police disperse more than 25,000 illegal gold miners in northwest
Zambian authorities have cleared over 25,000 illegal miners from a gold-rich area in Mufumbwe District, northwest Zambia....
The Office of Financial Sanctions Implementation (OFSI) has disclosed the full impact of UK sanctions on Russia, reporting that more than £25 billion in Russian assets have been frozen.
"We will continue to robustly enforce our financial sanctions as part of our wider response to Russia’s barbaric invasion of Ukraine," - said UK Economic Secretary to the Treasury, Emma Reynolds.
Together with its allies, the UK has enforced the toughest sanctions Russia has ever faced. These sanctions have had a significant impact on Russia’s economy, stripping it of over $400 billion since February 2022—an amount equivalent to four years of the country's military spending.
The UK government has designated 2,001 individuals and entities under its Russia sanctions regime.
"Russia’s overall financial standing has weakened, with the federal budget expected to remain in deficit until at least 2026. The rouble has depreciated significantly, and Russia is experiencing a shortage of skilled workers, further straining the economy. Inflation is rising, with rates far exceeding targets, while high interest rates and economic isolation have made borrowing costly," - OFSI's Annual Review stated.
As a result of UK sanctions, Russia’s military has been forced to turn to rogue states like North Korea and Iran for critical supplies.
The £25 billion figure is based on OFSI’s Russian Frozen Assets In-Year Reporting. This is where relevant firms are obliged to report to OFSI as soon as practicable, information concerning funds or economic resources belonging to, held, or controlled by a designated person.
An asset freeze prevents any UK citizen, or any business in the UK, from dealing with any funds or economic resources which are owned, held, or controlled by the designated person. UK financial sanctions apply to all persons within the territory and territorial sea of the UK and to all UK persons, wherever they are in the world. It also prevents funds or economic resources being provided to or for the benefit of the designated person
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
The United States has rescinded licensing restrictions on ethane exports to China, allowing shipments to resume after a temporary halt and signalling progress in efforts to ease recent trade tensions.
Italy plans to grant approximately 500,000 work visas to non-EU nationals between 2026 and 2028, as announced in a cabinet statement. The initiative aims to address labor shortages by expanding legal immigration pathways
Following a deadly glacier collapse in Blatten, near the Swiss Alpine village of Kandersteg, the town is on high alert as melting permafrost and shifting rock threaten another potential disaster after it was buried a month ago.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
China's finance ministry announced on Sunday that it is imposing restrictions on imports of medical devices from the European Union valued over 45 million yuan ($6.3 million).
Investment firm Azoria Partners announced it would delay the launch of its Tesla ETF following Elon Musk's declaration of forming a new U.S. political party.
Ingram Micro INGM.N said on Saturday it recently identified ransomware on certain of its internal systems.
Microsoft is closing its direct operations in Pakistan after 25 years, shifting to a partner-led model to serve the market.
The European Union will drastically reduce imports of Ukrainian wheat and sugar, by up to 80%—to protect its farmers, a move expected to shift Ukraine's exports toward Asia and Africa.
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