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U.S. publishes maritime advisory to counter Iran, North Korea, and Syria sanctions evasion

18 May 2020

The U.S. Department of State, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), and the U.S. Coast Guard on Thursday (14 May) issued a global advisory to alert the maritime industry, and those active in the energy and metals sectors to deceptive shipping practices used to evade sanctions, with a focus on Iran, North Korea, and Syria.  

It is intended to provide actors that utilise the maritime industry for trade with information on and tools to counter current and emerging trends in sanctions evasion related to shipping and associated services. 

The document includes common deceptive shipping practices allegedly used with respect to countries such as Iran, North Korea, and Syria.

The advisory also outlines what the U.S. thinks are best practices for different sectors of the maritime and energy industries, including global commodity traders, maritime insurers, financial institutions, ship owners and flag registries, and others, to assist in their due diligence and mitigation of sanctions risk.  

Additionally, the advisory included information about U.S. and United Nations sanctions relevant to the maritime industry, including a non-exhaustive list of activities for which persons could be sanctioned by the U.S. government.  

A full copy of the advisory can be downloaded here

Photo credit: David-Everett
Published: 18 May, 2020

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