Archive for the ‘Russia’ Category

Japan Implements Restrictions on Used Car Exports to Russia, Impacting a Significant Trade

International Trade, Japan, News, Russia

October 1, 2023

TOKYO (International Trade Council) – Japan has recently taken measures to limit the export of used cars to Russia, significantly impacting an industry worth nearly $2 billion annually. This trade had thrived amidst the backdrop of ongoing international sanctions related to the Ukraine conflict, as evidenced by trade data and market participants. In early […]

International Trade Council Endorses New Sanctions Against Russia by OFAC

News, Russia, Sanctions

May 19, 2023

The International Trade Council (ITC) expresses full support for the United States and other G7 partners’ decision to intensify global sanctions against the Russian Federation. As an advocate for equitable and responsible global trade, the ITC recognizes the significance of these sanctions administered by the U.S. Department of the Treasury’s Office of Foreign Assets Control […]

ITC Discusses Recent Sanctions Against Russia

Economic Sanctions, News, Russia

May 16, 2023

The International Trade Council (ITC) acknowledges the European Union’s (EU) 11th package of sanctions against Russia announced last week by European Commission President, Ursula von der Leyen. The latest sanction package aims to prevent Russia from importing high-tech components for the ongoing conflict in Ukraine from neighboring countries. Central Asian nations, such as Uzbekistan […]

International Trade Council Responds to Cyprus’ Commitment to Uphold EU Sanctions on Russia

Europe, International Relations, News, Russia

April 18, 2023

The International Trade Council (ITC) commends the government of Cyprus for its firm commitment to upholding European Union (EU) sanctions on Russia. In light of recent blacklisting of Cypriot nationals by the US and UK for alleged involvement in sanctions-busting activities, the government of Cyprus has vowed to take decisive action against any deviation from […]

International Trade Council explores India-Russia Rupee-Rouble payment scheme

Bilateral Trade Relation, India, News, Russia

May 31, 2022

Mumbai, India – India is actively exploring the use of dedicated payment mechanisms for trade with Russia, including a potential Rupee-Rouble payment scheme, to enable existing trade obligations in the wake of sanctions imposed on the Kremlin. This move could also open up opportunities for Indian exporters to ramp up sales to Russia, according to […]

International Trade Council Urges Full Embargo on Russian Energy to Support Ukraine

Economic Sanctions, News, Russia, Ukrain

May 10, 2022

The International Trade Council is urging for a full embargo on Russian energy imports, in order to support Ukraine amidst the ongoing conflict with Russia. Ukraine’s Finance Minister, Sergeii Marchenko, stated that the embargo would make it harder for Russia to finance their military needs, whilst also levelling the playing field between the two countries. […]

US Congress Votes to Suspend Russia Trade Status: International Trade Council Provides Insight

News, Russia, Trade Policy, United States

April 7, 2022

Washington, D.C. – The International Trade Council provides insight into the recent vote by the United States Congress to suspend Russia’s ‘most favoured nation’ trade status and ban imports of Russian oil. The Council urges all parties to engage in constructive dialogue to ensure that international trade and economic stability are maintained. With the US […]

The International Trade Council is a global, peak-body, chamber of commerce that supports businesses and governments by providing resources, advocacy, and networking opportunities to promote international trade and foreign direct investment. It serves as a platform for organizations to collaborate, share knowledge, and navigate the complexities of global markets.