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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
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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