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U.S. Seizure of Russian-Flagged Tanker Heightens Global Tensions

The ship, currently between Iceland and the British Isles, has been accused of breaking US sanctions and shipping Iranian oil. It has historically transported Venezuelan crude oil. The United States has seized a Russian‑flagged oil tanker linked to Venezuela after a prolonged pursuit across the Atlantic, marking one of the most assertive enforcement actions under Washington’s sanctions program. The vessel, previously known as Bella‑1 and later renamed Marinera , was intercepted after evading an earlier boarding attempt near Venezuelan waters. U.S. military aircraft and naval units tracked the ship for weeks as it traveled across the Atlantic, at times shadowed by Russian naval vessels. Officials say the tanker was part of a network used to transport sanctioned Venezuelan and Russian oil. Its capture underscores Washington’s efforts to disrupt what it describes as illicit energy shipments that help sustain both governments. The operation comes at a delicate geopolitical moment, wit...
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Real Estate Receiverships on the Rise: A Consequence of Elevated Interest Rates and Construction Costs

 


According to a recent report by The Canadian Press, real estate development projects across Canada are increasingly being pushed into receivership due to elevated interest rates, construction costs and delays, and a slower real estate market. Receiverships are a way for secured lenders to have the court appoint someone to take control of the property and either liquidate it or otherwise maximize the value of the assets. While often thought of as a last resort, experts have seen an increase in receiverships as bigger construction projects with multiple mortgages and parties involved start to run into trouble.

From one of Canada’s tallest condo towers to bare tracts of land, residential development projects across the country are facing financial stress. Smaller developers are finding it hard to get more money as the second-tier lenders they often rely on become more cautious. Ontario has seen the bulk of receiverships in recent months, but over the past year, the process has been applied to everything from a historic bank building in Saint John, N.B., to a fire-plagued apartment in Winnipeg.
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