Gautam Adani May Be Lost Rs 937 Crore, This Is The Biggest Reason - अडानी को हो सकता है 937 करोड़ रुपए का नुकसान, यह है सबसे बड़ी वजह patrika.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from patrika.com Daily Mail and Mail on Sunday newspapers.
Adani Ports To Abandon Myanmar Container Terminal Project If Found Violating US Sanctions On Military Regime
Adani s Mundra Port in India (@WesternRly/Twitter)
Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday (4 May) clarified that it could abandon the container terminal project in Myanmar and write down the investment if it is found to be violating sanctions imposed by the United States. In a scenario wherein Myanmar is classified as a sanctioned country under the Office of Foreign Assets Control (OFAC), or if OFAC opines that the project violates the current sanctions, APSEZ plans to abandon the project and write down the investments, the company said in a filing to exchanges, reports
Ports firm had won a terminal project
Adani Ports and Special Economic Zone Ltd. said on Tuesday it could abandon a Myanmar container terminal project and write down the investment if it is found to be in violation of sanctions imposed by the U.S.
“In a scenario wherein Myanmar is classified as a sanctioned country under the Office of Foreign Assets Control (OFAC), or if OFAC opines that the project violates the current sanctions,(Adani Ports) plans to abandon the project and write down the investments,” the company said in a filing to exchanges on Tuesday.
OFAC, part of the U.S. Treasury Department, administers and enforces economic and trade sanctions based on the country’s foreign policy. A military coup in Myanmar on February 1 and an ensuing crackdown on mass protests has drawn sanctions on military-controlled entities.
April 2021
Tensions continued to mount among Ethiopia, Sudan and Egypt ahead of Addis Ababa’s planned second unilateral filling of Grand Ethiopian Renaissance Dam in coming months. In apparent warning to Addis Ababa and preparation for possible escalation of inter-state tensions, Sudan and Egypt 31 March-5 April held second joint military exercise since Nov 2020. New round of talks among Egypt, Ethiopia and Sudan on filling and operation of Grand Ethiopian Renaissance Dam (GERD) on Blue Nile river broke down 6 April. Cairo same day denounced Ethiopia’s “lack of political will to negotiate in good faith”, while Khartoum vowed to “consider all possible options to protect its security”, denouncing Addis Ababa’s rejection of its proposal for quadripartite mediation by AU, EU, UN and U.S. to break deadlock in AU-led negotiations. Ethiopia’s water minister Seleshi Bekele 7 April said Addis Ababa would proceed with second filling of dam during forthcoming rainy season bet