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The Latest Breaking News from US Treasury

Will Silicon Valley Bank's collapse spark a US recession with ripple effects across the globe?

Based in California and with about $US200 billion in assets, Silicon Valley Bank (SVB) was the 16th-largest in America, making it the biggest bank failure since the global financial crisis of 2008. The implications for financial markets and the global economy are big.

ABC News

Post-mortems begin on Silicon Valley Bank failure - Roll Call

Biden's comments about SVB added to scrutiny of a 2018 law that eased banking requirements, but it's not clear that's what cause the failure

Roll Call

US Targets ‘Shadow Banking’ Network Helping Iran Evade Sanctions

The United States on Thursday imposed sanctions on 39 entities, including many based in Hong Kong, that Washington said facilitate Iran's access to the global financial system, describing them as a "shadow banking" network that moves billions of dollars. The US Treasury Department in a statement said those targeted had…

Asharq Al-Awsat

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US Treasury Imposes New Sanctions on Iranian Companies

The United States imposed new sanctions Thursday on Iran-linked shipping and petrochemical companies, including two shipping firms based in China. The sanctions also target 20 shipping vessels linked to firms in China, Vietnam, and the United Arab Emirates, the Treasury Department's website showed. The sanctions were issued under a 2018…

Asharq Al-Awsat

How Daniel Kinahan has delayed Jake Paul v Tommy Fury

Jake Paul and Tommy Fury will finally fight each other in Saudi Arabia this weekend

Irish Mirror

Iraq: US Did Not Impose Conditions over Dollar Crisis

Iraq denied claims that the US had imposed conditions on its delegation, which recently visited Washington, regarding the dollar exchange issue. An Iraqi delegation, headed by Foreign Minister Fuad Hussein, had visited Washington and met with Secretary of the State Antony Blinken earlier this month. During a press conference in…

Asharq Al-Awsat

Iraq's Central Bank, US Federal Bank Address Electronic Platform Challenges

Officials from the Central Bank of Iraq, the US Federal Reserve Bank and the US Treasury have met in wake of the drop in the Iraqi dinar's value against the US dollar, creating severe fluctuations in the prices of most commodities and foodstuffs. Economic sources said Washington gave Iraq an…

Asharq Al-Awsat

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Dubai boom sees Russian cash, high rents and reborn projects

For the first time since a 2009 financial crisis nearly brought Dubai to its knees, several major abandoned real estate projects now show signs of life

The Independent UK

U.S., UK sanction eight Bulgarians over alleged corruption

The United States and Britain on Friday sanctioned eight Bulgarians for alleged corruption, including the country’s wealthiest man and a former minister who allegedly profited illegally from deals involving Bulgaria's only nuclear power plant and Russian energy firms.

Reuters

Turkey-Syria earthquake: Assad blames west as agencies struggle to get aid to his desperate people

It didn’t take long for Syria’s Assad regime to seek political and economic benefit from the devastation of an earthquake. As emergency services were reaching victims of the 7.8-magnitude tremor on February 6, regime-linked organisations demanded governments “immediately end the siege and unilateral coercive economic sanctions imposed on Syria and…

The Conversation

US Adds 8 New Iranian Officials to its Drone Sanctions List

The United States imposed sanctions on eight Iranian executives' of Paravar Pars Company (Paravar Pars), an Iran-based firm for manufacturing Shahed-series unmanned aerial vehicles (UAVs) for Iran's Islamic Revolutionary Guard Corps Aerospace Force (IRGC ASF). This US measure follows other decisions announced by the US Treasury on November 15, 2022,…

Asharq Al-Awsat

US Treasury Makes More Tesla, Ford, GM EVs Eligible For Tax Credits

The US Treasury revised its vehicle classification definitions, raising the MSRP limit from $55,000 to $80,000 for several Tesla, Ford, GM and VW EVs.

InsideEVs

Elon Musk: Twitter Payments Launching Soon

Twitter's Advertising Business Shrinks, The Social Media Giant Unveils A New Revenue Source

Zenger

Lebanese money exchanger Moukalled denies Hezbollah ties after U.S. sanctions

Lebanese money exchanger Hassan Moukalled on Thursday denied that he or his company CTEX have financial ties to Hezbollah and said he would mount legal challenges to U.S. Treasury sanctions against him.

Reuters

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Asharq Al-Awsat

US Sanctions Lebanon Money Exchanger for Alleged Ties to Hezbollah

The US Treasury said on Tuesday it was placing sanctions on Lebanese money exchanger Hassan Moukalled and his business for alleged financial ties to blacklisted group Hezbollah. Its announcement said Moukalled was a financial adviser to Iranian-backed Hezbollah, which is also designated by the United States, and carried out financial…

Reuters

G7 agrees to review level of price cap on Russian oil in March -US Treasury

Group of Seven officials have agreed to review the level of the price cap on exports of Russian oil in March, U.S. Treasury Deputy Secretary Wally Adeyemo said on Friday.

The Independent UK

McCarthy agrees to meet with Biden to discuss debt ceiling

The debt ceiling has nothing to do with authorising new spending despite Republican claims that it does

Asharq Al-Awsat

Stringent US Moves against Money Flows from Iraq to Iran

The decline in the value of Iraq’s national currency and the rise in the prices of foodstuffs and imported goods can be traced back to remarkable change in the policy adopted by the US Treasury and the Federal Reserve Bank of New York. Both bodies have had a policy shift…

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Al Jazeera

US starts using extraordinary measures to avoid default

The period of time that extraordinary measures may last is subject to ‘considerable uncertainty’ Janet Yellen warned.

Zenger

Israeli-Turkish Ties Continue Despite Concerns Over Hamas Terrrorism

Turkey remains the main lifeline for the Palestinian terrorist organization where Hamas has operated there and have taken lives.

The Guardian - UK

What is LockBit ransomware and how does it operate?

Name of malware and criminal group behind it, LockBit has been blamed for attack on Royal Mail

Salon

How Congress cracked down on tax scam

New law shuts down “syndicated conservation easements” that exploit charitable tax break meant to preserve lands

Zenger

McCarthy Took $2 Million From FTX Crypto Scam Co-Founder

He hasn't said what he intends to do about the money, while other Republicans have turned FTX funds over to the U.S. Treasury.

InsideEVs

US Treasury Says Commercial EV Tax Credit Applies To Consumer Leases

More good news comes in the fact that the US Treasury made it clear the commercial tax credit can be used to reduce the prices of an EV lease.

InsideEVs

US EV Tax Credit Battery Guidance Delayed, Which Is Good News

The US Treasury was supposed to have rules in place by the end of 2022 pertaining to battery materials sourcing for the new EV tax credit. It needs more time.

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