US expands Iranian Sanctions and issues shipping advisory

Overview

The United States Office of Foreign Assets Control (OFAC) has expanded sanctions against Iran and issued an advisory to the shipping community. 

The Office of Foreign Assets Control has advised that the information be closely watched as they cast a wide net and the consequences for even unintentional violations are immense.

"The US Treasury's action against this sprawling petroleum network makes it explicitly clear that those purchasing Iranian oil are directly supporting Iran's militant and terrorist arm, the IRGC-Qods Force," said Treasury Secretary Steven Mnuchin.

"Our actions over the last two weeks should serve as a strong warning to anyone considering facilitating the Qods Force's oil sales that there will be swift consequences," Mnuchin said.

The information and advisory can be found below:


Mette Kronholm Frænde
in Copenhagen, DK

Coronavirus

Access BIMCO's COVID-19 related articles and advice.

Read more

 
 

ELSEWHERE ON BIMCO

Contracts & Clauses

All of BIMCO's most widely used contracts and clauses as well as advice on managing charters and business partners.

Learn about your cargo

For general guidance and information on cargo-related queries.

More about cargo

BIMCO Publications

Want to buy or download a BIMCO publication? Use the link to get access to the ballast water management guide, the ship master’s security manual and many other publications.