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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

Iran gas tankers arrive at Venezuela

Despite US threats to prevent the shipments, the voyages were unimpeded, with a Venezuelan naval escort for each tanker as it entered the country’s territorial waters

Weekly briefing: Container lines boost finances, ‘caution’ over US sanctions guidance

Pacific International Lines is in early negotiations with Singapore’s sovereign wealth fund over much-needed investment, while shipowners are urged to continue to take a risk-based approach to anything that touches on US sanctions against Iran and Venezuela despite new guidance

Ofac wields a sanctions sledgehammer on shipping

The mercurial, ambiguous and inconsistent application of Ofac sanctions on Iran and Venezuela is a deliberate tactic to keep international shipping on its toes

Abandoned LPG carrier had insurance and class revoked after Iran call

The owner of the LPG carrier, Globalgas, which claims to be bankrupt, says it has not been charged with any US sanctions violations

Venezuela shipments test US maritime sanctions resolve

A product tanker that discharged gasoline in Venezuela last month remains flagged by Liberia and under UK-based protection and indemnity cover. Elsewhere, four Iranian-flagged tankers are heading to Venezuela laden with the light distillate

Sierra Leone flag targeted by sanctions-busting tanker

Sierra Leone is the newest registry favoured by ships tracked shipping Iranian crude and liquefied petroleum gas

US issues alert to shipping over ‘sanctions evasion practices’

US agencies have issued a global advisory to the maritime industry alerting it to ‘deceptive shipping practices used to evade sanctions’

Trading with North Korea will invalidate P&I cover

Washington is likely to ramp up shipping sanctions aimed against the communist country ahead of US presidential elections in November

US consults shipping industry on new sanctions guidance

‘Information informally shared may have changed in the drafting and consultative process,’ US State Department says about new guidelines to be issued in the coming weeks

US charges Iranians over Greek tanker deal

Two Iranian nationals have been charged with violating US sanctions in connection with a scheme to buy a tanker

Sanctions on Chevron exports from Venezuela put tanker operators on alert

‘Venezuelan-origin petroleum and petroleum products may become a direct focus of the US’s sanctions policy. As such, any voyages involving the carriage of such may present sanction risks,’ says Freehill Hogan & Mahar

UN probes Sharjah-Libya jet fuel shipment as UAE boosts crude imports

The UAE is among countries implicated in Libyan arms embargo violations, and one of only five tracked receiving Libyan oil exports since the country’s National Oil Company declared force majeure

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Lloyd's List Sanctions
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