Foreign shipowners trading with Venezuela should exercise caution to be certain that any remittances made through the U.S. financial system in connection with their Venezuelan trade are not ultimately being used to purchase Petros. In the wake of E.O. 13827 and the INEA Circular, it is anticipated that U.S. banks will scrutinize all financial transactions relating to Venezuela with great care, particularly those involving shipping. Read more in the attached bulletin from UK Club Correspondents Freehill Hogan & Mahar LLP.