In the second of a seven-part series on the application of US sanctions to the shipping community, this article focuses on the comprehensive sanctions regimes against Iran, Syria and North Korea.
In May 2020, OFAC, the US State Department and US Coast Guard issued a joint Sanctions Advisory for the Maritime Industry.
The COVID-19 crisis has not slowed the Trump administration’s “maximum pressure” sanctions policy against Iran and Venezuela, which continues to pose risks to shipowners.
COSCO Tanker and COSCO Shipping Tanker (Dalian) Seaman and Ship Management Co., as well as four other Chinese companies, have been placed on the list of “Specially Designated Nationals and Blocked Persons by the US Office of Foreign Assets Control. This article looks into the effects of these sanctions.