The latest Club news and resources on how sanctions impact Members.
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.
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."
Sanctions: Treasury Increases Pressure on Cuba to End Support to Maduro by Imposing Further Oil Sector Sanctions
Further to our Web update of 9th April 2019 on Venezuelan Sanctions , Members whose trade involves Venezuela should be aware that OFAC has recently added to the SDN list four ship owning companies and nine vessels...