Tag: Sanctions

December 28, 2022

To remind, at the beginning of December, the Group of Seven (G7) nations and Australia joined the EU in setting a $60-a-barrel cap on Russian seaborne crude oil. The move has been described as a way of cutting Russia’s financial […]

July 27, 2022

Sen. Marco Rubio (R-Fla.) wants the U.S. to sanction China’s purchases of oil and other energy supplies from Russia in an effort to cut off funding for that country’s war against Ukraine. China’s imports of Russian crude have surged this […]

July 8, 2022

Shipping has to navigate more than 2,000 sanctions in the new complex trading world following Russia’s invasion of Ukraine. UK-based marine assurance tech firm MIS Marine has tallied the number of individual sanctions that shipping faces and has come up […]

February 20, 2020

The sanctions are expected to make it more difficult for Venezuela to export oil, especially to China and India, exerting further pressure on the tanker market. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) said that […]

January 13, 2020

In the latest sanctions, the US Treasury targeted Iran’s billion-dollar metal industry and senior regime officials clamping down on the country’s remaining revenue sources. A total of 17 Iranian metals producers and mining companies were listed in the latest group […]

December 12, 2019

Speaking at a press conference yesterday, U.S. Secretary of State Mike Pompeo said that the designated shipping companies include the Islamic Republic of Iran Shipping Lines (IRISL) and its China-based subsidiary, E-Sail Shipping. Pompeo described IRISL as the shipping line […]

December 4, 2019

The six vessels — Icaro, Luisa Caceres de Arismendi, Manuela Saenz, Paramaconi, Terepaima and Yare — have been identified as blocked property of Venezuela’s state-run oil firm Petroleos de Venezuela, S.A. (PdVSA), according to a statement issued by the U.S. […]

October 1, 2019

The sanctions were imposed on COSCO Shipping Tanker (Dalian) Co. and COSCO Shipping Tanker (Dalian) Seaman & Ship Management Co. As explained by Teekay, COSCO Dalian is a direct 50% shareholder in China LNG Shipping (Holdings) Limited (CLNG). CLNG was […]

September 26, 2019

COSCO Shipping Tanker (Dalian) Co. and COSCO Shipping Tanker (Dalian) Seaman & Ship Management Co. were determined by the Secretary of State to meet the criteria for the imposition of sanctions. It was further stated that the sanctions applied only […]

September 25, 2019

Namely, the U.S. Treasury said that the latest measures include Cyprus-headquartered Caroil Transport Marine, and the three vessels that the company operates, as well as the Panama-based Trocana World Inc., Tovase Development Corp and Bluelane Overseas SA, the registered owner […]

June 25, 2019

According to a statement from the U.S. Department of the Treasury, the Office of Foreign Assets Control (OFAC) took action against eight senior commanders of Navy, Aerospace, and Ground Forces of the Islamic Revolutionary Guards Corps (IRGC). Additionally, the move […]

June 7, 2019

The Miami-based cruise major said that the financial impact of the regulatory change would mean a reduction to the adjusted EPS for 2019 in the range of USD 0.25 to USD 0.35 per share. “While the affected sailings impact only […]

May 13, 2019

The ships in question are the crude oil tanker Ocean Elegance and the chemical and oil tanker Leon Dias. Both vessels delivered crude oil from Venezuela to Cuba from late 2018 through March 2019. The Department of the Treasury’s Office […]

March 27, 2019

The companies in question are Dalian Haibo International Freight and Liaoning Danxing International Forwarding, both of them based in China. According to OFAC, the action highlights the deceptive methods that the North Korean regime uses to circumvent international and US […]

February 8, 2019

The sanctions on Iranian energy, shipbuilding, shipping and banking sectors imposed last year have forced South Korea to look for alternative sources of condensates, thereby impacting tonne-mile demand. Moreover, as Asian petchem consumption is likely to slow down, intra-regional trade […]

November 21, 2018

Namely, the shipments of oil to Syrian government-controlled ports are part of U.S. government’s clampdown on Iran’s shipping and shipbuilding sector. “The United States will aggressively seek to impose sanctions against any party involved in shipping oil to Syria, or […]

November 9, 2018

Hook argued that now that sanctions have been reimposed on Iran’s shipping sector, Iranian tankers calling at international ports and passing through waterways pose a major risk. Namely, since the U.S. sanctions also cover the provision of underwriting services, insurance, […]

November 5, 2018

The sanctions will be imposed on entities, vessels and individuals, the ultimate aim being “to compel Iran to permanently abandon its well-documented outlaw activities,” Secretary of State Mike Pompeo said. By exerting pressure on Iran, the U.S. expects the country’s […]

May 9, 2018

Trump said on Tuesday, May 8, that the United States will pull back from the Joint Comprehensive Plan of Action (JCPOA) and begin reimposing U.S. nuclear-related sanctions on the Iranian regime. “Treasury’s Office of Foreign Assets Control (OFAC) is taking […]

February 26, 2018

The United States has imposed a new wave of sanctions against North Korea’s regime targeting the country’s shipping sector, which has been linked to several sanction evasion schemes. Twenty-eight ships are being blacklisted in addition to 27 entities, and one […]