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 important
area of regulatory compliance.
US SANCTIONS AGAINST SYRIA
President 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 States person or to the United States, must comply with the provisions of the Executive Order. The American Club and its Members that are organized under US law, or located in the United States, are United States persons.
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Source: The American P&I Club
