U.S Sanctions against Venezuela stepped up- international shipping largely unaffected.
In July and August of 2017 the U.S issued another Executive Order expanding on the sanctions against Venezuela. Although to date none of the U.S. sanctions appear to have had a direct effect on international shipping, attached above is further information on the topic provided by our local correspondents.
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.”
Huatai Insurance Agency & Consultancy Service Ltd, the Club’s local correspondents in China, are continuing to monitor the situation closely so that we can keep Members closely updated on this developing situation.
