And the winner is….

U.S. Company Pays $7.59 Million for Multiple Sanctions Violations The Treasury Department’s Office of Foreign Assets Control (OFAC) has announced that a U.S. company has agreed to pay $7.59 million to settle its potential civil liability for 65,942 apparent violations of multiple sanctions programs. The case involved an online digital asset trading and settlement platform…

The Panama Canal, a vital trade route connecting the Atlantic and Pacific Oceans, is set to reduce ship crossings once again due to a severe drought. The Panama Canal Authority (ACP) recently announced that the number of daily booking slots will be significantly reduced to cope with the water shortage. This decision could have implications…

In a significant move towards combating climate change, European Union lawmakers recently adopted a groundbreaking law that will impose methane emission limits on fossil fuel imports starting from 2030. Methane, a potent greenhouse gas and the main component of natural gas, is the second-largest contributor to climate change after carbon dioxide. This new regulation places…

Flexport, a San Francisco-based freight forwarder, has made a high-stakes move to solidify its future in the global forwarding business by acquiring the logistics assets of Shopify, a Canadian e-commerce company. The acquisition is expected to help Flexport extend its reach and complete its “port to porch” service, which includes everything from picking up goods…

The U.S. trade deficit experienced a significant contraction in June, as businesses reduced their purchases of foreign-made capital goods, leading to a sharp decline in imports, reaching the lowest level in over 1-1/2 years. This decline in imports, as reported by the Commerce Department, suggests a potential slowdown in business investment and overall domestic demand,…