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Sanctions

With the US administration's "maximum pressure" campaign continuing against Iran and sanctions placed on Venezuela we examine the impact of this sanctions and the pain of them on the shipping industry and wider implications for the maritime community including finance, insurance, law and government

Sanctions

Scrapping of tankers in sanctioned oil trading questioned

Tankers were part of vintage subterfuge fleet of some 160 vessels engaged in shipping Iranian and Venezuelan crude

IMO ‘defrauded’ by North Korea vessel identity laundering scheme

The UN agency is reviewing claims that IMO numbers are being issued for ships that don’t exist

PB Tankers ‘back from brink’ after sanctions delisting

Things got so bad suppliers declined to deliver fresh food to ships at anchorage, for fear of being sanctioned for doing business with a sanctioned entity, says Ince senior partner Julian Clark

Chinese counter-sanctions seen as shipping's next big risk

Rising tension between the US and China could again place international shipping at the apex of extra-territorial sanctions and conflict between the two countries

Sanctions under Biden: still inconsistent, still ambiguous, still in place

Two and a half years after the US imposed sanctions on Iran and Venezuela’s oil and shipping sectors, implementation remains both haphazard and ineffectual

Iran and Venezuela crude shipments distorting global oil trade, says Frontline

Most of global tanker fleet is earning unsustainable, negative rates as sanctions-busting shipments scale up

West of England P&I paid abandoned crew on Iran-linked blacklisted tanker

US sanctioned the Liberia-flagged very large crude carrier Oman Pride four weeks after its crew abandonment case was resolved

US sanctions Iran-linked Liberia-flagged tanker

This is the only Liberia-flagged ship on Ofac’s blacklist for violating unilateral US sanctions on Iran or Venezuela

Indonesia’s export ban could add to China’s coal pain

Indonesian government has reintroduced sanctions for producers failing to meet their domestic market sales obligation, with 34 companies currently banned from exporting coal

Insurance finds grey area for tankers in US-sanctioned oil trades

P&I coverage for more than 160 tankers shipping billions of dollars of sanctioned crude through some of the world’s busiest waterways ranges from a company with a GoDaddy website in Bulgaria to a Dubai-based club that retrospectively cancelled cover for one of its entered tankers involved in a serious oil spill

Uncertainty reigns over sanctions-busting status of EU tankers

‘I imagine the willingness of Cypriot officials to enforce unilateral US sanctions comes down to diplomatic pressure from Washington,’ says a Washington DC-based consultant specialising in sanctions policy. ‘But I don’t think folks at the State Department will be eager to twist the arms of Cypriot officials’

Cyprus emerges as sanctions workaround for Venezuela oil shipments

Owners have found corporate workarounds to keep crude flowing even as the Greek Union of Shipowners discourages its members from returning to the trade

Lloyd's List Sanctions
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