The UK Club have received the following update from Freehill Hogan and Mahar, regarding the United States decision to lift sanctions on Turkey.

Explore Syria's time-bar regulations across various laws

An executive order by the President of the United States was issued on the 1st May extending further the impact of US sanctions against Iran and Syria

The latest sanctions against Iran have been much publicized and are set against a backdrop of Iranian officials threatening to escalate the situation further by blocking the Strait of Hormuz

Council Regulation (EU) No

Both the EU and the United States have announced extension of their sanctions against the Syrian Arab Republic to prohibit the trade, transport or financing of crude oil or petroleum products. Under Rule 5V (Sanctions risks) the Club excludes cover where the provision of cover may expose the Club to a sanction or other adverse action from a competent government.

The attached Shipping Alert 11-213 gives updated guidance on both EU and US sanctions in respect of Libya and Syria and is reproduced with the kind permission of Reed Smith.

On the 18th August 2011, the US Government issued an Executive Order that blocks property of the Syrian government, including all entities controlled by the Syrian government.