The Authorities of Singapore reported that they may arrest the Russian vessel that has been under US sanctions for violating economic sanctions imposed on North Korea, Interfax, a Russian news reported.
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) blacklisted additional six vessels linked to Venezuelan PdVSA, with the latter having already been sanctioned. All vessels stated above, departed Venezuela for Cuba in the fall to deliver oil for the sanctioned Cuban trading firm Cubametales.
WISTA Hellas conducted its Annual Forum on November 5, focusing on the sanctions that are being imposed today, the development of digitalization, as well as the role of women in shipping and the importance of boosting their presence in the sector.
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanction the Cuban company, Corporacion Panamericana S.A., pursuant to Executive Order (E.O.) 13850 for being owned or controlled by, or having acted for or on behalf of, Cubametales, an entity designated on July 3, 2019, for operating in the oil sector of the Venezuelan economy.
In light of the US Sanctions to COSCO for alleged involvement in moving crude oil from Iran, David Peyman, deputy assistant secretary of state for counter threat finance and sanctions, commented that no company is too big to avoid sanctions if they conduct illegal operations.
In the wake of Turkey’s agreement to a ceasefire in Syria, the sanctions against Turkey were lifted on 23 October, and the two ministries and the three ministers have been removed from the Specially Designated Nationals List, according to data provided by law firm Freehill Hogan and Mahar.
Six ARC7 LNG carriers transporting gas from the Yamal LNG project, under a joint venture of Teekay LNG with China LNG, are no longer classified as a “Blocked Person” under US OFAC rules, according to an official statement by Bermudas-based Teekay Corporation.
During the last SAFETY4SEA Athens Forum, Mr. Rod Lingard, the Club Manager of Hellenic Mutual War Risks Association (Bermuda) Limited, looked at key war risks trends, including sanctions and the recent advice from OFAC on sanctions compliance programmes; developments in the Arabian Gulf; the status of piracy in both the Gulf of Guinea and the Western Indian Ocean.
On 14 October 2019 the US issued an Executive Order (EO), imposing sanctions against the Turkish Ministry of Energy and Natural Resources and the Turkish Ministry of National Defence. Three government ministers have also been added to the US’s Specifically Designated National List (SDN List).
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.
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- Women in shipping
Human Rights Day: Women still lack major rights10/12/2019
DVN GL signs strategic agreement with CSSC10/12/2019
Port Botany shuts down due to fires and smokes10/12/2019
Achille Lauro hijacking: A tragic example of maritime terrorism10/12/2019