Sanctions: OFAC De-Lists Ventspils
The UK P&I Club have received the following client alert from Freehill Hogan and Mahar, regarding the delisting of Ventspils by OFAC.
As reported in our Client Alert of December 12, 2019, the Ventspils Freeport Authority was added to the U.S. Specially Designated Nationals (SDN) list on Monday, December 9, 2019. Yesterday (December 18), the U.S. authorities removed that entity from the SDN list. The removal was based on the takeover of the entity by the Latvian government and the removal of it from the control of Aivars Lembergs, the Mayor of Ventspils, Latvia. Mr. Lembergs reportedly owned/controlled the Ventspils Freeport Authority. In removing that entity from the list, Deputy Secretary of the U.S. Treasury Department Justin G. Muzinich said, “The U.S. applauds the Latvian government’s swift response to Lembergs’ designation. This delisting of the Ventspils Freeport Authority underscores our commitment to work closely with our partners to combat corruption.”
Members can read the full client alert. For any further information, please get in touch with your usual Club contact.
38829 FHM19DecemberClientAlertonVentspilsandGeneralLicenseKpd 740 KB
You may also be interested in:
A Roadmap for Ship Decarbonisation
Global warming is one of the most severe and complex challenges our world faces today; there is an urgent need to reduce emission levels and avoid the most devastating impacts of climate change and every individual, business, and industry, including shipping, has a part to play.
Press Release: UK Club builds on strength of regional offices with two appointments in Greece and Hong Kong
The UK P&I Club, one of the leading providers of P&I insurance and other services to the international shipping community, has announced Seán Geraghty will become the new Regional Director in its Greek office in November, while Daniel Evans will move from Greece to London to focus on the continued development of the UK Defence Club.
The UK P&I Club has received the following client alert from Freehill Hogan and Mahar, regarding changes to the U.S. Specially Designated Nationals List (SDN List).