Archive for the ‘Sanctions’ Category

Important OFAC Iran FAQ Update provides clarity ‎on US dollar processing and due diligence

Important OFAC Iran FAQ Update provides clarity ‎on US dollar processing and due diligence
On 7 October 2016 OFAC issued an update to its “Frequently Asked Questions Relating to the Lifting of Certain U.S. Sanctions Under the Joint Comprehensive Plan of Action (JCPOA) on Implementation Day” (the FAQs), providing further guidance on due diligence requirements for non-U.S. persons engaged...
October 10th, 2016 | Legal, Politics and Government, Sanctions | Read More

Still a low dry market with the BDI@718…

Still a low dry market with the BDI@718…
John Faraclas Despite going over and above the 700 threshold the BDI (Baltic Dry Index) we are still in a very low dry market; Geopolitics as said in the past, and shipfinance scandals that will surface, will drive the stakeholders mad. John Faraclas warns of dangers again: With a dozen points plus...
August 25th, 2016 | Bribery and Corruption, Earthquakes, Tsunamis, Cyclones and Typhoons, Events, Conferences,Forums and Symposiums, Exhibitions, Immigration, Maritime Fraud, Markets, Religion, Sanctions, Shipfinance | Read More

OFAC Issues General License Allowing for Temporary Sojourn to Iran for Certain Civil Aircraft

OFAC Issues General License Allowing for Temporary Sojourn to Iran for Certain Civil Aircraft
Insight / Sanctions update   OFAC Issues General License Allowing for Temporary Sojourn to Iran for Certain Civil Aircraft OFAC has issued General License J, “Authorising the Re-exportation of Certain Civil Aircraft to Iran on Temporary Sojourn and Related Transactions.” Specifically, General...
August 5th, 2016 | Aviation, Legal, Sanctions | Read More

Syria Sanctions

Syria Sanctions
London Circular: L.278 Steamship Mutual has published a Circular regarding the current status of EU and US sanctions in respect of Syria. Please see below link to Club Circular L.278 which is now available on the Steamship Mutual website. Syria Sanctions Background Both the European Union and the United...
May 24th, 2016 | Associations, Organisations, Politics and Government, Sanctions | Read More

Iran Trading. Increased limit of fall-back cover

Iran Trading. Increased limit of fall-back cover
London Circular: L.27 Further to Club Circular L.273 concerning the placement of fall-back cover by the International Group to provide cover against potential reinsurance shortfalls in relation to Iran-related claims, the Group has increased the level of fall-back cover to EUR100 million to enhance the...
April 14th, 2016 | Insurance and Reinsurance, P and I Clubs, Sanctions | Read More

The BDI@555; no fuming, …just smoking*

The BDI@555; no fuming, …just smoking*
John Faraclas With another 16 points plus earlier on today since last Friday’s closing, the BDI (Baltic Dry Index) at 555 is trying to maintain a level of fewer losses given that all ships more or less need US$ 2-2500 daily support/self-finance from its owners to avoid lay-ups or being by its creditors...
April 11th, 2016 | Civil Unrest, Containers, Dry Bulkcarriers, Insight, Markets, Military, Piracy and Terrorism, Ports & Terminals, Sales and Purchases, Sanctions, Shipbuilding and Shipyards, Shipping Indices, Statistics, Stock Markets, Trade and Commerce | Read More

Iran Trading – P&I cover update

Iran Trading – P&I cover update
Following from the Steamship Insurance Management Services Limited London Circular: L.273 Further to Club Circular L.272 concerning the lifting of EU and US sanctions under the JCPOA, the Club has published a follow-up circular addressing P&I cover issues in connection with trade to/from Iran, and...
March 22nd, 2016 | Marine Insurance, P and I Clubs, Sanctions | Read More

Only at 2, 000 plus points the BDI(and Shipping) will make sense…

Only at 2, 000 plus points the BDI(and Shipping)  will make sense…
John Faraclas Whilst the BDI is…approaching the 400 points threshold, in reality and despite what the media and analysts report, as well as what the owners and managers want – needless to say the expectations from the stock markets for the listed companies and the financiers’ interest, given...
March 21st, 2016 | Chartering, Civil Unrest, Containers, Corruption, Disputes, Dry Bulkcarriers, Fixtures, Gas, Health and Safety, Immigration, Markets, News, Oil Industry, Safety and Security, Sales and Purchases, Sanctions, Ship Demolitions, Ship Finance, Shipping Indices, Statistics, Stock Markets, Tankers, Trade and Commerce | Read More

US Further Eases Cuba Sanctions

US Further Eases Cuba Sanctions
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has amended the Cuban Assets Control Regulations (CACR) (the CACR Amendments). Douglas Maag and Daniel Correll write: According to Treasury Secretary Jacob J. Lew, the amendments: build on the actions of the last 15 months...
March 21st, 2016 | Associations, Legal, Sanctions | Read More

London Market’s Risk Appetite for Iran Business Weighed Down by Remaining US sanctions

London Market’s Risk Appetite for Iran Business Weighed Down by Remaining US sanctions
As reported in the Financial Times, new research by Clyde & Co reveals that, despite the lifting of certain EU and US sanctions, the remaining US sanctions are negatively impacting the London market’s risk appetite for Iranian business. By Chris Hill, Partner, and Wynne Lawrence, Associate The...
March 13th, 2016 | Legal, Sanctions, Trade and Commerce | Read More

US Enacts Secondary Sanctions Concerning North Korea

US Enacts Secondary Sanctions Concerning North Korea
On February 18, 2016, President Obama signed the North Korea Sanctions and Policy Enhancement Act of 2016 into law. The wide-ranging law was enacted in response to North Korea’s nuclear weapons test on January 6, 2016, and it significantly expands the scope of the current US-North Korean sanctions...
February 29th, 2016 | Sanctions | Read More

HFW Briefing – Iran sanctions: guidance for insurers, reinsurers and brokers

HFW Briefing – Iran sanctions: guidance for insurers, reinsurers and brokers
Iran sanctions: guidance for insurers, reinsurers and brokers Insurers, reinsurers and brokers will be looking carefully at the latest Iran sanctions developments to see whether the sanctions relief presents...
February 24th, 2016 | Communication, Energy, Insurance and Reinsurance, Marine Insurance, Reports, Sanctions | Read More

Implementation Day – trade update from Clyde & Co on Iran

Implementation Day – trade update from Clyde & Co on Iran
As reported in our update of 17 January 2016, the lifting of EU sanctions following Implementation Day is expected to trigger a substantial increase in trade between western companies and their Iranian counterparts. Written by Michael Swangard  (on the left) and Anousheh Bromfield . In a move which...
February 5th, 2016 | Legal, Press and Media, Sanctions | Read More

Strict compliance process still needed over Iranian business…

Strict compliance process still needed over Iranian business…
Frédéric Denèfle. Strict compliance process still needed over Iranian business as insurance curbs are dropped By James Brewer Insurers are being advised that before underwriting Iran-linked risks, they must carry out thorough checks to avoid violating the US sanctions on Tehran that remain in place....
February 3rd, 2016 | Associations, Conferences, Seminars, Forums, Marine Insurance, News, Sanctions | Read More

The Migrants issue continues…

The Migrants issue continues…
John Faraclas Without prejudice Anathema and Migrants: Human Aggression at its best! Why all this hypocrisy by all involved and in particular from the so called politically correct EU’s masters of colonialism? Do they have an idea what an… ism ending means and entails…? John Faraclas’s insight...
February 1st, 2016 | At the end of the day..., Bribery and Corruption, Civil Unrest, Claims, Corruption, Defense, Health and Safety, HR, Immigration, Insight, Maritime Accidents, Maritime Fraud, Military, News, P and I Clubs, Religion, Sanctions, Seizures | Read More

Monthly Global Economic & Market Monitor (Monday, February 01, 2016)

Monthly Global Economic & Market Monitor (Monday, February 01, 2016)
Monthly Global Economic & Market Monitor (Monday, February 01, 2016) Viewers can read the preamble and at the end the entire report in the link that follows: Global growth is expected to move broadly sideways, hovering around 3.3% in 2016 from 3.1% in 2015, the slowest pace in the post-crisis period....
February 1st, 2016 | Banking, Company Profiles, Energy, Environment, Finance, Markets, Military, News, Person Profiles, Piracy and Terrorism, Reports, Sanctions, Shipfinance, Statistics, Stock Markets | Read More

The Rollback of Iranian Sanctions: What does this mean for the international oil and gas sector?

The Rollback of Iranian Sanctions: What does this mean for the international oil and gas sector?
January 26, 2016 | Written by Clare Hatcher, Richard Devine, Brett Hartley and Thomas Chapple Iran is one of the most significant producers of crude oil and natural gas in the world. According to the OFAC Annual Statistical Bulletin 2015, Iran has proven crude oil deposits equating to 157, 530 million...
January 26th, 2016 | Associations, Banking, Energy, Gas, LNG, Markets, Oil Industry, Sanctions, Seizures | Read More

Lifting of EU and US sanctions in respect of Iran following Implementation Day – 16 January 2016

Lifting of EU and US sanctions in respect of Iran following Implementation Day – 16 January 2016
Following comes from Steamship Insurance Management Services Limited with respect the Iranian sanctions; London Circular  L.268: Implementation Day under the Joint Comprehensive Plan of Action (“JCPOA”) occurred on 16 January 2016, resulting in the general lifting of most (but not all) EU sanctions,...
January 22nd, 2016 | P and I Clubs, Sanctions | Read More

“Implementation Day” declared as EU and US sanctions against Iran are eased

“Implementation Day” declared as EU and US sanctions against Iran are eased
Patrick Murphy “Implementation Day” declared as EU and US sanctions against Iran are eased January 17, 2016 The International Atomic Energy Association (IAEA) issued a report on Saturday (16 January 2016) confirming that Iran has completed the necessary preparatory steps to start the implementation...
January 17th, 2016 | European Union, Politics and Government, Sanctions, UN | Read More

Security Institute update

Security Institute update
Jonathon Bright Security Institute – a great time to join; an interesting letter received from Jonathon Bright: Dear John, Just a quick e-mail to wish you a Happy New Year and to highlight a few reasons why it is now a great time to join the largest membership organisation for security professionals...
January 15th, 2016 | Associations, Bribery and Corruption, Claims, Corruption, Defense, Disputes, Health and Safety, Maritime Fraud, Piracy and Terrorism, Safety and Security, Sanctions, Seizures | Read More

The MSC Domitille Calling at Iran

The MSC Domitille Calling at Iran
This is  screen shot from  VV@ Mapping Service showing the MSC Domitille calling at Bandar Abbas, Iran at the end of last year. With US Sanctions being lifted from Iran, other vessels have entered into these waters earlier in the year: the CMA CGM Andromeda travelled to Iran on the 6th August 2015...
January 7th, 2016 | Sanctions, Trade and Commerce | Read More

Russia’s Sanctions Against Turkey

Russia’s Sanctions Against Turkey
On 28 November 2015 Russian President Vladimir Putin signed an Executive Order On Measures to Ensure the National Security of the Russian Federation and the Protection of Citizens of the Russian Federation against Criminal and Other Illegal Acts and on the Application of Special Economic Measures Against...
December 15th, 2015 | Associations, Marine Insurance, Sanctions | Read More

Home Office Security Minister to open Transport Security Expo

Home Office Security Minister to open Transport Security Expo
Rt Hon John Hayes MP On 2nd December, the Rt Hon John Hayes MP, UK Security Minister at the Home Office, will be officially opening this year’s Transport Security Expo at Olympia London. An MP since 1997, Mr Hayes has held a number of shadow ministerial and Government roles, including Minister of...
November 10th, 2015 | Bribery and Corruption, Civil Unrest, Corruption, Defense, Disputes, Events, Conferences,Forums and Symposiums, Exhibitions, Health and Safety, Maritime Fraud, Military, Piracy and Terrorism, Safety and Security, Sanctions, Seizures | Read More

Shipowners’ holistic approach to maritime security

Shipowners’ holistic approach to maritime security
Jakob Paaske Larsen the global security manager for Maersk Line In a move intended to allow the European shipping industry to stay abreast of recent developments, European shipowners have widened the scope of the former ECSA Piracy Working Group, which has been renamed “ECSA Maritime Security Working...
November 10th, 2015 | Associations, Bribery and Corruption, Civil Unrest, Company Profiles, Corruption, Defense, European Union, Marine Insurance, Military, Person Profiles, Piracy and Terrorism, Safety and Security, Sanctions, Seizures, UN | Read More

Capital Link’s CSR; the catch phrase for furthering the shipping saga

Capital Link’s CSR; the catch phrase for furthering the shipping saga
l to r: Fred Kenney (IMO), Dee Taylor (Liskow and Lewis), Harry J. Fafalios chairman GSCC and director Fafalios Shipping, Michael Lund – BIMCO chairman and moderator Peter Hinchliffe sg of ICS The 5th Capital Link Shipping & Offshore CSR Forum in London Now, what an event that was earlier today!...
November 3rd, 2015 | Academia, Alternative Sources of Energy, Anniversaries, Associations, Awards, Banking, BIMCO, Breaking News, Charity, Climate, Clubs, Communication, Company Profiles, Conferences, Seminars, Forums, Consulting, Consumers Market, Corporate Social Responsibility, Cruise Industry, Drill ships, Energy, Environment, Events, Executive Travel, Finance, Health and Safety, Holidays, HR, IACS, IMarEST, IMIF, Immigration, Insurance and Reinsurance, Intercargo, Intermanager, International Chamber of Shipping, Intertanko, Jobs, London Shipping Law Centre, Manning - Seafarers and Offshore, Marine Insurance, Maritime Accidents, Maritime Education and Training, Maritime Fraud, Maritime History and Museums, Markets, Oceanology, Oil Spill, P and I Clubs, P and I Clubs, People and Places, Piracy and Terrorism, Pollution, Ports & Terminals, Press and Media, Religion, Safety and Security, Salvage, Towage, Wreck Removals, Sanctions, Shipfinance, Shipmanagement, The Nautical Institute, WISTA - Women in Shipping | Read More