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Court refuses to unblock Shell’s bank accounts
Getty Images Justice Oluremi Oguntoyinbo of the Federal High Court in Lagos on Tuesday declined to vacate an interim injunction directing 20 banks to block Shell Petroleum Development Company of Nigeria (SPDC) and its subsidiaries’ bank accounts. The court also insisted that two of the banks’ secretaries and chief financial officers accused of disobeying the order made on January 25, 2021 must appear before it on March 29, 2021. The affected banks and their officials are: Citi Bank Ltd, its Company Secretary Sola Fagbure and Chief Financial Officer, Sharaf Mohammed; United Bank For Africa (UBA) Plc, its Company Secretary Bill Andrew Odum and Chief Financial Officer, Ebenezer Kolawole. The judge threatened to issue a warrant of arrest against them if they failed to appear before her on the ...
US sanctions 11 entities for aiding Iran’s oil sector
The US imposed sanctions on 11 entities and three executives Thursday for allegedly aiding an Iranian energy firm that was blacklisted in January, and helping Iran export petroleum products . The new designations of companies and executives include six under the Treasury Department’s authorities and five under the State Department. All are based in Iran, the United Arab Emirates (UAE) or China. The State Department’s sanctions target Iran-based Abadan Refining Company; China-based Zhihang Ship Management, New Far International Logistics LLC and Sino Energy Shipping; and UAE-based Chemtrans Petrochemicals Trading. The department also imposed sanctions on New Far executive Min Shi, Sino Energy executive Zuoyou Lin and Abadan managing director Alireza Amin. “All entities targeted today contin...
