The Office of Foreign Assets Control (OFAC) has issued an advisory notice concerning the risks of transporting petroleum shipments to Syria. OFAC warns that such actions could breach U.S. sanctions.
OFAC advises, in the strongest terms, against the carriage and supply of such cargoes to the Syrian Government or any other Specially Designated National (SDN).
Acting this way would be in breach of U.S. sanctions and would potentially open the carrier to the full force of penalties from the U.S. authorities, which, in the best case scenario, will affect the future trading of the vessel and at worst could prove fatal to the future viability of the whole company, as West of England P&I Club informs at recent report.
The advisory states that by preventing the normalisation of economic and diplomatic relations and reconstruction funding, the United States and its international partners continue to demonstrate resolve to disrupt support for the Assad regime and permanently denying the regime the use of chemical weapons.
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The United States is committed to isolating the Assad regime and its supporters from the global financial and trade system in response to the continued atrocities committed by the regime against the Syrian people.
The United States, European Union (EU), and United Nations (UN) maintain sanctions programs against Syria, and the United States will continue to maximise pressure on the Assad regime and impose additional financial costs on the regime and its financial facilitators.
These include prohibitions on the transport of crude oil and petroleum products from Syria, as well as restrictions on Syria’s oil and gas and electricity generating industries amongst a number of other measures.
Actually, the US prohibits practically all trade and other transactions directly or indirectly by U.S. persons with the Government of Syria and has the authority to sanction entities or individuals who provide support to the Government of Syria.
