Category Trade and Sanctions

North Korea Arms Carrier Pays Panama Canal

The Panama Canal Authority (ACP) informs that representatives of the ship ‘Chong Chon Gang’ have paid the total amount of the fine for US$693,333.10 set due to the violation of the Regulations for Navigation in Canal Waters and consequently the ACP has authorized the release of the ship. ACP add that in the case of […]

Panama orders release of crew of N. Korean ship – The Washington Post

Panama’s judicial authorities have ordered the release of 32 of 35 crew members of a North Korean ship detained in July for carrying hidden arms from Cuba and they were working Thursday on the paperwork needed to leave. Prosecutor Nahaniel Murgas said the captain and two other crew members would remain to face arms trafficking […]

Iran oil exports limited to 1 million barrels a day under nuclear accord | The National

Iran’s crude oil sales will still be limited to about 1 million barrels a day under international sanctions that remain in force as part of the nuclear accord reached in Geneva today, according to the White House. Iran’s crude exports have fallen 60 per cent since the beginning of 2012, depriving the country of more […]

Ukrainian port eyed as analysts seek Syria’s arms source – The Washington Post

On Jan. 5, the Ocean Fortune, a 380-foot-long workhorse of the global arms trade, left this Black Sea port with unknown cargo concealed in its cavernous hold. The ship steamed south, slipped through the Bosporus Strait and turned toward the eastern Mediterranean. Then it disappeared. The ship’s transponder, which normally sends automated signals to other […]

Panama finds rocket-propelled grenades on North Korean ship | thetelegraph.com.au

AUTHORITIES in Panama say they have found more explosives aboard a North Korean-flagged ship detained in the Panama Canal for carrying undeclared arms from Cuba. Anti-drug prosecutor Javier Caraballo said inspectors found a kind of “anti-tank RPG (rocket-propelled grenade)” explosive when they opened one of five wooden boxes on the Chong Chon Gang. He said […]

Panama seizes North Korean ship carrying missiles

PANAMA CITY (AP) — Panama says it has seized a North Korean-flagged ship carrying what appeared to be ballistic missiles and other arms that had set sail from Cuba. Panamanian President Ricardo Martinelli told RPC radio on Monday that the ship had been headed for North Korea. [object HTMLTextAreaElement] via Panama seizes North Korean ship […]

U.S. Sinks Nails in Iranian Economic Coffin

Oil priced at around $100 per barrel means Iran for May was out around $300 million in oil revenue because of Western economic sanctions. A U.S. Treasury Department official said sanctions are taking a slice out of oil revenue for the Islamic republic after years of pressure and May exports of oil from Iran may […]