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.
The Trump Administration implemented new sanctions against Iran, targeting an Iranian shipping network and airline, as it was announced by U.S. Secretary of State Mike Pompeo. Pompeo informed that the designated companies include the Islamic Republic of Iran Shipping Lines (IRISL) and its China-based subsidiary, E-Sail Shipping.
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.
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.
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.
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