Daniel Pilarski was recently interviewed by bi-monthly trade publication Container Management as part of its in-depth exploration of sanctions in Latin America.
This article examines the case of Banco San Juan Internacional, Inc v Petroleos De Venezuela SA. where the effect of sanctions on obligations under a loan agreement and the doctrine of unenforceable penalty were discussed.
This report highlights some recent developments and forthcoming changes in the sanctions landscape which will increase the importance of compliance, most likely complicate the task and which have particular relevance 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.
On August 5, 2019, US President Donald Trump continued to escalate US sanctions on Venezuela by imposing direct blocking sanctions on the Government of Venezuela.