U.S Imposes New Sanctions Against Iran: Effect on Shipping Should be Minimal
"On February 3, 2017, in response to a ballistic missile test reportedly conducted by Iran on 29th January, the U.S. Office of Foreign Asset Control ("OFAC") sanctioned 25 individuals and entities either involved in Iran's missile program or in a network supporting terrorist activities in Lebanon. All of the individuals and entities are now named to the U.S Specially Designated Nationals ("SDN") List.
Since these latest sanctions target specific individuals and entities, and not products or sectors of the Iranian economy, the overall effect on international shipping should be minimal. None of the secondary sanctions lifted on January 16, 2016 under the Joint comprehensive Plan of Action have been re-imposed."
Members can read the full update
here.
Downloads
-
U.S. Imposes New Sanctions on Iran Effect on Shipping Should be Minimal (833 KB)
06/02/2017
Download PDF
Tags
You may also be interested in:
On May 8, 2019, exactly one year after President Trump announced that the United States was withdrawing from the Joint Comprehensive Plan of Action (“JCPOA”) and would re-impose the U.S. secondary sanctions against Iran, President Trump issued an Executive Order “Imposing Sanctions with Respect to the Iron, Steel, Aluminum, and Copper Sectors of Iran.”
US: Recent Sanction Developments
13/12/2019
The UK P&I Club have received the following update from Freehill, Hogan and Mahar LLP, regarding recent sanction developments.
Iran Sanctions Update 15 August 2018
15/08/2018
We refer to the Club's update on Iran sanctions of 26th June 2018, regarding the decision of the United States to withdraw from the Joint Comprehensive Plan of Action ("JCPOA") and to re-impose secondary sanctions.
Sanctions against North Korea
26/09/2017
In reaction to recent ballistic missile and nuclear weapons tests by North Korea, the U.S. and the UN have both imposed significant new sanctions against North Korea.