Burden of implementing US sanctions now firmly on energy firms

Energy firms must now screen operations of every vessel they deal with, writes maritime data expert

Shipping

US sanctions on Iran moved centre stage once more at the start of May as waivers – that had allowed eight countries to continue buying Iranian oil – expired. While on the surface it may seem like we’ve seen it all before, in actual fact, this time is very different.

This is because on March 29, 2019, the US Treasury’s Office of Foreign Assets Control (Ofac) issued new guidance as to what it expects from the compliance regime of everyone in the maritime supply chain: banks, energy traders,

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: