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
Members whose trade involves Venezuela should be aware that OFAC has recently added to the SDN list four ship owning companies and nine vessels.
Freehill, Hogan and Mahar have just issued the latest client alert on Venezuelan Sanctions
Members will have noted the decision by President Trump announced on May 8 to withdraw the USA from participation in the JCPOA (Joint Comprehensive Plan of Action) agreed between Iran, the EU, and the P5+1 (the five permanent members of the United Nations Security Council - China, France, Russia, United Kingdom, United States - plus Germany), and to re-impose US nuclear-related 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.
Iran Sanctions - "Fall-back" Reinsurance
09/03/2016
Stay informed on Iran sanctions and reinsurance updates
Given the global announcement of "Implementation Day" - that there will be a lifting of sanctions on Iran, the Club and IG are examining closely what this actually means in reality for Iran's oil, gas, shipping, petrochemicals, insurance and financial sectors, and importantly for those owners/operators wishing to engage business with Iran.
U.S Sanctions regime - Cuba
02/10/2015
Read the latest advice from Reed Smith on the amendments to the 180-day rule which concern the U.S Sanctions regime and Cuba.
Overview of key provisions in Iran nuclear dealJoint Comprehensive Plan of Action regarding sanctions relief timelines, snapback risks, permitted activities pre-Implementation Day
The diplomatic agreement of 14 July 2015 between the E3/EU+3 and the Islamic Republic of Iran opens the way for the restoration of trade activates with Iran by lifting the trade, energy, insurance and banking embargoes that have been incrementally imposed by the European Union and U.S since 2009.
The Joint Plan of Action ("JPoA") agreed by the P5+1 and Iran, which brought limited sanctions relief, is set to expire today, 30th June 2015. While there has been no official world, recent developments suggest that it is highly unlikely that a final agreement on a nuclear deal with Iran will be reached by tomorrow.
Iran Sanctions: Ship To Ship Transfers
19/01/2015
The Club has been made aware of recent attempts to export crude oil from Iran in breach of sanctions. On several occasions, oil has been carried from Iran, to Kor Fakkan UAE, under documents falsely describing the cargo as having been loaded in Iraq. It has then been delivered by ship-to-ship transfer to vessels bound for countries that do not benefit from a waiver under applicable US Sanctions legislation.