September 17, 2020 By: Saskia Rietbroek CSS, Executive Director, ACSS If you are wondering how sanctions evasion works in a petroleum product deal, you should read the recent forfeiture action by the U.S. Department of Justice (DOJ) of four Iranian tankers headed for...
August 29, 2020 By: Robert L. Williams III CAMS, Consultant* For the first half of 2020, OFAC has continued to focus on the Government of Venezuela, the shipping industry, and its ongoing trading of oil with Iran, in violation of OFAC regulations. This follows an...
August 24, 2020 By: Ingo Steinhaeuser, Director of Financial & Risk, Refinitiv * Following the departure or ejection of its ambassador to Venezuela in June 2020, the European Union added 11 leading Venezuelan officials to the E.U. sanctions list. The individuals...
August 21, 2020 By: Jack Walsh, Reporter ACSS Over the past five years, a combination of rock-bottom oil prices and heavy U.S. sanctions on Venezuela’s oil industry has caused the South American country’s economy to crater. In the absence of formerly prolific oil...
August 19, 2020 By: Saskia Rietbroek, Executive Director, ACSS After the U.S. government issued its Sanctions Advisory for the Maritime Industry in May 2020 (the ‘Maritime Advisory’), with heightened compliance expectations for commercial insurance, ship owners and...
August 07, 2020 By: Jack Walsh, Reporter ACSS For compliance officers, particularly those working for non-U.S. companies, the proliferation of secondary sanctions in recent years has introduced an array of challenges. By imposing secondary sanctions, the U.S. extends...
