American Club circular No. 10/19 – Recent US Government advisories concerning Iran, North Korea and Syria

Marine Insurance, P and I Clubs, Sanctions — By on March 27, 2019 at 8:40 PM

Joseph E.M. Hughes, Chairman and CEO, Shipowners Claims Bureau, Managers for The American Club

MARCH 27, 2019, CIRCULAR NO. 10/19

TO MEMBERS OF THE ASSOCIATION

Dear Member:

RECENT US GOVERNMENT ADVISORIES CONCERNING IRAN, NORTH KOREA AND SYRIA

The US government has recently issued the attached advisories in regard to trade involving Iran, North Korea and Syria. These extensive documents are believed to speak for themselves, and are circulated to Members for their general information, and action as appropriate.

Your Managers, in conjunction with initiatives being taken by the American Club’s colleagues within the International Group, will continue to monitor developments concerning sanctions which apply to trade with Iran, North Korea and Syria, and inform Members accordingly.
Members are reminded that, pursuant to American Club rules, there is no cover for voyages, or any activity related to or attendant thereon, which violate, or pose a risk of violating, sanctions prohibitions, and/or where causing a violation could entail the imposition of sanctions or penalties. Members are therefore urged to conduct additional sanctions due diligence to ensure their own and the American Club’s compliance with relevant prohibitions.
Should Members have any questions, or need additional guidance, regarding any aspect of the foregoing or sanctions in general, or require confirmations as to the availability of cover for voyages involving countries (Iran, North Korea and Syria), or wish to inquire about entities or individuals subject to US economic sanctions (designated entities and individuals appearing on the OFAC SDN List), they should contact: Charles J. Cuccia, Senior Vice President – Compliance, ph +1 212 847 4539, mob +1 917 215 2883, charles.cuccia@american-club.com.
Yours faithfully,
  
 
Joseph E.M. Hughes, Chairman & CEO
Shipowners Claims Bureau, Inc., Managers for
THE AMERICAN CLUB
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