US SETS SIGHTS ON SHIPPING COMPANIES FOR SANCTIONS EVASIONS

On 7th November, Hellenic Shipping News reported that a US official has said that the US will target shipping companies that are in breach of sanctions and aggressively enforce measures across the globe to clamp down on such practices.  David Peyman, Deputy Assistant Secretary of State for Counter Threat Finance and Sanctions, said ships were “the key artery to evade sanctions”.  He had been holding meetings with shipping officials in Europe, and is quoted as saying that the maritime supply chain was complex but companies needed to invest in more due diligence and take proactive measures to avoid being caught in potential sanctions breaches.  He also said that insurance companies and banks could check the history of ships they covered or financed to see whether there were gaps in a vessel’s voyage history, which is logged through AIS tracking transponders, which may point to illicit and concealed activity.

https://www.hellenicshippingnews.com/u-s-sets-sights-on-shipping-companies-for-sanctions-evasions/

This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s