New US sanctions target illicit financial network aiding Iran, military | Business and Economy News

New US sanctions target illicit financial network aiding Iran, military | Business and Economy News

US Treasury Department says Iran relies on brokers, front companies to finance proxies across region, including Hamas. The United States Department of the Treasury has announced new sanctions targeting 21 Iranians, foreign nationals, and firms accused of involvement in an illicit financial network for the benefit of the Iranian military….

Somalia has joined the EAC regional bloc. What happens next? | Business and Economy

Somalia has joined the EAC regional bloc. What happens next? | Business and Economy

After more than a decade of intense lobbying, Somalia has been admitted into the East African Community (EAC). After ratification by the Somali Federal Parliament, the membership will become official. The application process, started by former President Sharif Sheikh Ahmed in 2011, had been long and arduous with some member…