According to Reuters, Venezuela’s refineries have almost halted operations because of underinvestment while U.S. sanctions meant to force the ruling Socialist Party from power have severely restricted fuel imports.
US Goverment recently imposed sanctions on 11 companies for reportedly enabling the shipment and sale of Iranian petrochemicals.
The UK Office of Financial Sanctions Implementation (OFSI) issued a report that provides guidance on financial sanctions for those involved in areas that may be subject to UK financial sanctions restrictions, including the handling of goods.
Trump Administration recently imposed sanctions against Iran’s shipping network for allegedly carrying cargoes of weapons of mass destruction (WMD).
As the sanctions are on a rise, shipowners and operators have to be careful if they do not want to experience the consequences of sanctions, which vary from insurance, designation to impact on reputation.
Recently, the North P&I Club issued its revised guide on evaluating the risk of sanctions, focusing on the application and scope of the U.S. and EU sanctions, in regards to their jurisdiction over companies; whether other sanctions apply to trading partners- such as banks, insurers or reinsurers or whether there are there any “party” related sanctions which impact on the ability to complete the contemplated trade, among other issues.
The International Group of P&I Clubs has published its Annual Review which provides an overview of the Group, key activities and areas of engagement.
The National Defence Authorisation Act for Fiscal Year 2020 (NDAA 2020) was signed by President Trump on December 2019, and includes several sanction-related measures mostly targeting specific European energy programmes in which Russia participates in.
The EU Council decided, on November 11, to implement a framework for sanctions against natural and legal people who are involved in offshore drilling activities in the Eastern Mediterranean within Cypriot territorial waters.
After the US imposed sanctions on subsidiaries of Cosco, European refiners have received an unexpected boost, as less crude oil from the North Sea and West Africa heads east, Reuters reports. What is more freight rates have risen as oil producers seek non-blacklisted vessels.
Steering with artificial intelligence to combat maritime piracy21/10/2020
Day 02 of 2020 SAFETY4SEA Virtual Forum focuses on safety and security challenges amid the pandemic crisis21/10/2020
Lessons learned: Fingers must remain out of the line of fire during wire transfer operations21/10/2020
Transport Malta investigation: Serious injury of crew member while testing rescue boat crane21/10/2020
- Maritime Health
Update on crew COVID-19 cases in Western Australia21/10/2020
Lessons learned: Pilot transfers need careful judgment when moving outside the safety zone21/10/2020
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Near-fatal in New Zealand leads to 1st enforceable undertaking for maritime21/10/2020
- Cyber Security
US charges Russian military intelligence officers for ‘NotPetya’ cyber attack21/10/2020
Port of Antwerp and partners to develop 5G private network21/10/2020