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.
Following the recent Turkish military incursion into northern Syria, the US issued an Executive Order on 14 October, imposing sanctions against Turkey and specifically, the Turkish Ministry of Energy and Natural Resources and the Turkish Ministry of National Defence.
An additional three government ministers, including the Minister of National Defence, the Minister of Interior and the Minister of Energy, were also added to the US’s Specifically Designated National List (SDN List).
However, last week, Turkey agreed to a ceasefire in Syria for 120 hours to allow the US to Kurdish-led forces to withdraw from the Turkish-controlled safe zone.
As of now, there are no US sanctions in place against Turkey,
…the law firm stated.
Sanctions have been recently a key area of geopolitical risks for shipping. In light of the US sanctions imposition to Iran and Venezuela, approximately 300 oil tankers have been excluded from the shipping market because the sector is afraid of breaching the sanctions, even by accident.
