Tanker Owner, Mercantile & Maritime, reported that it will halt its shipments of Venezuelan oil for Rosneft, following the United States’ sanctions against the Russian oil giant’s Geneva-based trading arm Rosneft Trading S.A.
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Russian Rosneft Trading S.A. for operating in the oil sector of the Venezuelan economy, while also designated the chairman of the board of directors and president of Rosneft Trading S.A., Didier Casimiro, for purporting to act for or on behalf of, directly or indirectly, Rosneft Trading S.A.
The Venezuelan Maritime Authority has required port payments to be in its own digital Petro Currency, which is sanctioned by the US. In light of these developments, the Standard P&I Club recommended owners and operators to consider carefully trade to Venezuela.
The US Treasure Department announced that it has lifted sanction on one of the two sanctioned units of Cosco Shipping, deleting from its sanctions list Cosco Shipping Tanker (Dalian) Co, but continues having blacklisted the unit Cosco Shipping Tanker (Dalian) Seaman & Ship Management.
According to the US Office of Foreign Assets Control (OFAC), Eagle Shipping International (Eagle Shipping) has agreed to pay $1,125,000 to settle its potential civil liability for 36 apparent violations of the Burmese Sanctions Regulations.
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 US Treasury Department announced additional US sanctions against Iran, in response to the state’s missile attack against a US air base in Iraq, making now trade with Iran in almost all industry sectors off limits for US, as well as non-US persons.
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.
Following a recent announcement regarding the designation by OFAC of Ventspils Freeport Authority (VFA), OFAC now announced the removal of those sanctions on 18 December. Following the designation, the Latvian government passed legislation effectively ending Lembergs’ control of the Authority.
It is said that on Thursday, December 19, the Trump administration renewed a waiver for companies to loosen transactions with the Dalian unit of a Chinese tanker company it had sanctioned in September for allegedly transporting Iranian oil, Reuters reports.
Beirut port closed06/08/2020
Container casualty causes in the spotlight06/08/2020
Australia risks clogged ports with over-contract seafarers stopping two ships06/08/2020
Benin to allow foreign Armed Security Teams on board ships06/08/2020
Maritime Autonomous Surface Ships initiative launched06/08/2020
Oman bans open loop scrubbers06/08/2020
Simulator training moves to the cloud to continue seafarers training06/08/2020
- Maritime Health
Update 06 August: Live map depicts spread of coronavirus06/08/2020
More actions needed to control slips, trips and falls onboard05/08/2020
- Women in shipping
Career Paths: Karine Langlois, IMO05/08/2020