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    Worker looses life in incident on Woodside’s North Rankin Complex

    Worker looses life in incident on Woodside’s North Rankin Complex

    EU proposes new measures for safe and green shipping

    EU proposes new measures for safe and green shipping

    UK MAIB

    Lessons learned: Never leave the scene of a collision until everything is under control

    Lessons learned: Always ensure you have an accurate picture of the traffic situation before departure

    Lessons learned: Always ensure you have an accurate picture of the traffic situation before departure

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    Book Review: A role model for ship managers

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    Contemplation: Directing the mind towards what’s important

    power of hug

    The power of hugging: How it affects our health

    Impostor Syndrome

    Mental Health Focus: How to deal with Impostor Syndrome

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    Grimaldi orders two new ammonia ready car carriers

    Grimaldi orders two new ammonia ready car carriers

    MT NORE METHANOL BUNKERING BUNKER ONE

    Bunker One launches methanol-ready bunker tanker

    Smart Green Shipping and NTS join Winds of Change

    Smart Green Shipping and NTS join Winds of Change

    Maersk: Electricity availability limits e-fuels in the maritime industry

    Maersk: Electricity availability limits e-fuels in the maritime industry

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    IMO and South Korea sign agreement for gender equality in developing countries

    IMO and South Korea sign agreement for gender equality in developing countries

    BIMCO Q2 2023: Dry bulk market outlook

    BIMCO Q2 2023: Dry bulk market outlook

    Port of Stephenville to become green hydrogen hub

    Port of Stephenville to become green hydrogen hub

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    Back To The Future: How Rotor Sails are now a credible option to tackle climate challenge

    Back To The Future: How Rotor Sails are now a credible option to tackle climate challenge

    eu ets maritime

    The EU’s objectives for sustainable shipping

    METIS: Digitalisation can assist vessels to achieve optimum performance and minimise their emissions

    METIS: Digitalisation can assist vessels to achieve optimum performance and minimise their emissions

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SAFETY4SEA

Russian sanctions: US plans to remove Rusal from SDN list

by The Editorial Team
January 7, 2019
in Alerts, Shipping
us sanctions north korea
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The US OFAC has notified Congress of their intention to remove Rusal and the associated companies EN+ and ESE from the US SDN list by 18 January 2019, following significant changes made to the company’s shareholdings and structure.

The US Specially Designated Nationals And Blocked Persons List (SDN) is published by OFAC containing a list of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries or individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific. Collectively, such individuals and companies are called “Specially Designated Nationals” or SDNs and their assets are blocked and US persons ‘are generally prohibited from dealing with them’.

The latest OFAC decision means that, once the removal occurs, ships will be able to trade freely with Rusal and will not be subject to the current wind-down provisions. However, the latest Client Alert from the West P&I Club’s US attorneys Freehill Hogan & Mahar makes clear that the current partial shutdown of the US Government over budgetary disputes may be impacting OFAC’s ability to actually implement the changes.

Namely, the OFAC letter to Congress states that “The agreement between OFAC and the Petitioners [the three companies which petitioned for removal from the SDN List] is subject to approval by a number of stakeholders.” As such, unless that approval is obtained, there could be a delay in the removals from the SDN List.

RelatedNews

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While there was some additional initial negative political reaction to OFAC’s announcement, on the basis that it sent the wrong message to Russia with regard to its malign activities, it seems unlikely that there will be sufficient opposition in Congress to prevent OFAC’s intended action. There is, however, another potential for delay, which is the current US government partial shutdown, now in its 13th day,

…Freehill Hogan & Mahar stresses.

The government shutdown has occurred because US Congress, or at least the opposition Democratic Party in Congress, has refused to approve a budget appropriation bill necessary to continue funding government operations, which appropriation President Trump has insisted include $5B for the commencement of the construction of a wall along the US southern border.

As of today [4 January], the Democratic Party assumes the majority in the House of Representatives, one of the two houses of Congress, and that sets the stage for renewed negotiations with President Trump over the appropriations bill and border security. However, at this point, no immediate solution is in sight.

Tags: maritime tradeRussiaUSUS SanctionsWest of England Club

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