PRINT
OFAC Advisory to the Maritime Petroleum Shipping Community
Issued: September 4, 2019
Subject: Sanctions Risks Related to Shipping Petroleum and Petroleum Products from Iran
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is issuing this advisory to alert persons globally to the significant U.S. sanctions risks for parties involved in shipping petroleum or petroleum products from Iran after the expiration of any applicable significant reduction exceptions on May 2, 2019. These shipments create significant sanctions risk for entities and individuals in the shipping industry, including shipping companies, vessel owners, managers, operators, insurers, and financial institutions. Those who knowingly engage in significant transactions for the purchase, acquisition, sale, transport, or marketing of petroleum or petroleum products from Iran — or knowingly provide significant support to an Iranian person on OFAC’s List of Specially Designated Nationals and Blocked Persons (SDN List), such as...
Click the appropriate link below for access to this file.
Click the appropriate link below for access to this file.
1) Read in conjunction with the bunkering services FAQs, issued the day after the release of this advisory (FAQ # 691; FAQ # 692 and amended FAQ # 296). Additional notable context for the advisory can be found in Notable "Derivative" Designations - Network of vessels and facilitators has moved hundreds of millions of dollars to Assad regime, Hizballah, and illicit actors (2019) and Notable "Derivative" Designations - Treasury Targets Oil Tanker Adrian Darya 1 and its Captain (2019). Around 8/2019, OFAC began to step up designation efforts in connection with Iran's delivery of oil to countries not otherwise interested in adhering to OFAC's secondary sanctions requirements, in particular by sanctioning non-Iranians involved with such delivery. Other relevant context for the guidance is OFAC Advisory to the Maritime Petroleum Shipping Community: Sanctions Risks Related to Petroleum Shipments involving Iran and...