Tag: Syria

Iran has become Syria's main crude oil buyer Iran has become Syria's main crude oil buyer, helping Bashar Al-Assad's flailing government to circumvent Western sanctions, as Iranian tankers have returned for a third time since April, shipping industry sources said.Although Tehran already finds it difficult to sell its own crude under sanctions, two of its ships picked up Syrian oil late in July following a smaller purchase at the start of the same month.Asia is the likely destination for the Syrian oil but the sources said it remained unclear where the previous cargoes ended up.Iran sells its own crude to only a handful of buyers compared to its previous client list. China, India, Japan, Turkey have still been buying after overcoming shipping obstacles and South Korea will probably resume next month.The MT Tour and MT Amin, two tankers under the flag of Sierra Leone and owned by Islamic Republic of Iran Shipping Lines (IRISL), which is under United Nations sanctions, lifted around 140,000 metric tons each of Syrian Heavy crude from the Syrian port of Tartous in the last few days of July.The Tour is now moving through the Suez Canal and heading to the Gulf of Oman while the ...

Ship headed to "safe port", German spokeswoman says A German ship that is suspected of transporting Iranian arms to Syria is being diverted to an unspecified port for inspection, a German government spokeswoman said on Sunday."The economy ministry has been in contact with the owner of the ship. The ship will now head for a safe port (in a different country). There the goods will be checked," a spokeswoman for the economy ministry told Reuters.She said she did not know specifically where the ship would dock for the inspection.On Saturday, the economy ministry had said it was investigating a report that the German-owned ship in the Mediterranean en route to Syria was carrying Iranian weapons in breach of an arms embargo.German magazine Der Spiegel, which broke the story, reported on its website that the Atlantic Cruiser had been chartered to a Ukraine-based company, White Whale Shipping, which had declared the cargo as "pumps and the like".Der Spiegel quoted ship broker Torsten Lueddeke of Hamburg-based C.E.G. Bulk Chartering as saying: "We stopped the ship after we received information on the weapons cargo."Der Spiegel reported the ship had loaded the cargo in Djibouti this week and changed course for Iskenderun in Turkey ...

Latest restrictions for EU The EU published Council Regulation (EU) No 36/2012 on 18 January 2012 with immediate effect in a move to further increase sanctions against Syria.The latest restrictions include the following prohibitions for any EU person:Importing crude oil or petroleum products from Syria or originating in Syria into the EUSelling, supplying or transferring new Syrian banknotes and coins printed in the EU to the Central Bank of SyriaDirectly or indirectly supplying/exporting equipment or infrastructure or providing technical or financial assistance that could be used for constructing power plants; further details are contained in Annex VIIProviding any financial credit or engaging in any joint ventures with Syrian entities which includes exploration/production of crude oil.Providing insurance to the Syrian state or any Syrian public bodies or corporationsDirectly or indirectly supplying/exporting equipment that could be used for internal repression (as listed in Annex I to the Regulation)Directly or indirectly providing goods and technology listed on the EU 'Common Military List'Directly or indirectly supplying/exporting equipment, technology or software as listed in Annex V and VDirectly or indirectly providing technical assistance/brokering services relating to the items listed in Annex V and VI Full details of the Regulation including the Annexures specifically listing the ...

Proposed 180 Day Rule, Certification and Enhanced Inspections The London P&I Club issues alert regarding Iran, Syria and North Korea Sanctions Legislation ( Proposed 180 Day Rule, Certification and Enhanced Inspections) as follows: Operators should be aware of the ongoing review by the US of their sanctions policies in respect of Iran, Syria and North Korea. Although no legislation has come into force which directly affects shipping since our News Alert of 16 December 2011 (click here to review the latest legislation as at that date), there are now US proposals regarding a 180 day rule, certification and enhanced inspections which, if they are adopted, may significantly affect Operators who currently continue trading with Iran, Syria or North Korea. Under the proposed legislation: Ships would be prohibited from calling at any port in the US if the vessel has entered a port in Iran, Syria or North Korea during the last 180 days preceding the arrival of the ship in the US. Either the owner, charterer, operator or the master would be required prior to arrival in the US to certify compliance with the proposed 180 day rule. Federal authorities would be authorised to carry out enhanced inspection on ships ...

Risk Alert issued by the Steamship Mutual P&I Club The Steamship Mutual P&I Club issues Risk Alert regarding Syria - Expansion of Sanctions by EU and US as follows:There is a general consensus amongst many governments around the world that further economic and political pressure needs to be brought to bear on Syria's leaders in order to bring about political change and a peacefulend to the civil unrest in that country.At United Nations level, enhanced sanctions remain under debate. In the meantime, the EU and US have adopted their own measures against Syria.EU SanctionsWith effect from 3 September 2011, and pursuant to EU Regulation 878/2011 the scope of EU trade sanctions against Syria has been greatly extended.For more information, click here.Source : The Steamship Mutual P&I Club

Traffic in general cargoes, dry and liquid bulk cargoes, and containers shrank an average 35 to 40 % From his window on the corniche of Syria's Mediterranean port city of Tartous, an international shipper bemoans the change since a popular uprising six months ago engulfed the country and dealt a heavy blow to its economy."At night, ship lights made Tartous extend into a city on the sea; now it's like a small village. The port's sealine was full of vessels -- now the berths are nearly empty," said the shipper, who opened an agency in Tartous to cash in on a boom in traffic after the Iraq war wound down.Street protests demanding the removal of Syria's President Bashar al-Assad, many of them bloodily suppressed, have shrunk traffic at the country's ports and damaged its hopes of capitalizing on its position as a Middle East crossroads to grab a bigger share of transit business.The exact extent to Syria's economy is being hurt by the unrest and resulting international sanctions is not clear; official data is scarce. But many analysts expect gross domestic product to decline this year, perhaps by several percent or more. At the start of this year, the International ...

Alert issued by the London P&I Club The London P&I Club issues alert regarding New sanctions against Syria introduced by EU as follows:Members should be aware that with effect from 3 September 2011, the EU has introduced new sanctions against Syria, by which the carriage of crude oil or petroleum products from or originating from Syria is prohibited.A copy of the relevant Regulation (Council Regulation (EU) no 442/2011) can be found via:http://www.hm-treasury.gov.uk/d/finsanc_syria_council_regulation_eu_878_020911.pdfUnder the new Regulation, it is prohibited:a) to import crude oil or petroleum products into the European Union if they: (i) originate in Syria; or (ii) have been exported from Syria;b) to purchase crude oil or petroleum products which are located in or which originate in Syria;c) to transport crude oil or petroleum products if they originate in Syria, or are being exported from Syria to any other country;d) to provide, directly or indirectly, financing or financial assistance, including financial derivatives, as well as insurance and re-insurance, related to the prohibitions set out in a), b) and c);e) to participate knowingly and intentionally, in activities whose object or effect is, directly or indirectly, to circumvent the prohibition in point (a), (b), (c) or (d).Members should note that these prohibitions ...

Information by the American P&I Club The American P&I Club issues circular regarding US and EU economic sanctions in regard to Syria as follows:As Members may be aware, enhanced sanctions against Syria have recently been imposed by both the United States and the European Union.This Circular addresses developments in this area, both as they affect the interests of Members and as they affect the provision of service by the Club. Its contents are derived from advice very recently received from the Club's attorneys in Washington, DC who specialize in this importantarea of regulatory compliance.US SANCTIONS AGAINST SYRIAPresident Obama promulgated an Executive Order on August 17, 2011 which imposed new and additional US economic sanctions in regard to Syria with effect from August 18, 2011.The new sanctions block the property of the Government of Syria (and its agencies, instrumentalities, and controlled entities). They also prohibit certain trade transactions with or involving Syria. US sanctions against Syria in existence prior to August 18, prohibiting the exportation and re-exportation of US origin products to Syria and targeting certain Syrian entities and individuals, remain in force.United States persons, and the transactions of non-United States persons which have a nexus or connection to a United ...

Restrictive measures against Syria The European Union (EU) issued a press release stating that it has decided to impose restrictive measures, including an asset freeze, against Syria.To view the press release please click hereSource: European Union

European Union Regulations on Syria On 9 May 2011 the EU issued Council Decision 2011/273/CFSPand Council Regulation (EU) No. 442/2011introducingrestrictive measuresin the light of the situation in Syria.Thesanctions providefor an arms embargo, a ban on internal repression equipment and restrictions on the admission to the Union and the freezing of funds and economic resources of certain persons and entities.Annex I of Regulation (EU) No 442/2011 provides a list of equipment which might be used for internal repression.Annex II of Regulation (EU) No 442/2011provides alist of natural and legal persons, entities or bodies subject to the sanctions. To view the Council Regulation (EU) No 422/2011 please click here Source: Journal of the European Union