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.
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.”
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...
Questions Related to the Issuance of the Executive Order "Authorizing the lmplementation of Certain Sanctions Set Forth in the lran Freedom and Counter-Proliferation Act of 2012 and Additional Sanctions With Respect to Iran" and the lmplementation of Certain Provisions of the lran Freedom And Counter-Proliferation Act of 2012 (IFCA).
