The latest Club news and resources on how sanctions impact Members.
Russia-Ukraine Crisis: External Resources
The Club have collated external resources and information relevant to the current crisis in Ukraine.
Since 2010, considerable sanctions' activity has been directed at shipping and its supporting industries reflecting the fact that 90% of world trade involves the carriage of goods by sea.
This Circular provides information on the recent designation by the Government of the United States on Venezuela's Maritime Authority (Instituto Nacional de los Espacios Acuaticos - "INEA").
This Circular concerns efforts by the United States to enhance the sanction provisions targeting the construction of the NS2 and TurkStream pipeline projects and those who provide vessels and services in connection with either project.
U.S. sanctions update
During the last few weeks, U.S. authorities have increased their focus on international shipping in a recent escalation of sanctions.
Sanctions: COSCO license update
The UK P&I Club have received the following client alert from Freehill Hogan and Mahar, regarding a COSCO license update.
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.
The UK P&I Club has received the following update from Freehill Hogan and Mahar regarding an established winddown period for COSCO.
The UK Club have received the following update from Freehill Hogan and Mahar, regarding the United States decision to lift sanctions on Turkey.
The U.S. Department of Treasury's Office of Foreign Assets Control (OFAC) has continued to focus on international shipping as a means to implement the Iranian sanctions program and has now turned its attention to the bunkering of vessels engaged in Iranian trade or involving Iranian vessels.
On Monday 5 August, 2019, President Trump issued Executive Order 13884, effectively blocking the assets of the Government of Venezuela in the United States or in the possession and control of any United States person.