The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating two individuals and five entities that have facilitated weapons procurement for Yemen’s Houthi rebel group. OFAC is also designating one individual and one company, as well as identifying one vessel, that...
Office of Foreign Assets Control
OFAC sanctions a third tanker captain in new move against Houthi enablers
Earlier this month, the U.S. Treasury designated the captains of two Houthi-linked tankers, both Indian nationals, in its moves against the Houthis. Now, Vyacheslav Salyga, a 53-year old Ukrainian national, has become the third tanker captain to be designated by OFAC sanctions targeting Houthi weapons procurement and funding networks.
Yesterday, OFAC (Treasury’s Office of Foreign Assets Control) designated two individuals and five entities that have facilitated weapons procurement for...
U.S. sanctions captains of two Houthi-linked tankers
The captains of two Houthi-linked tankers, Vivek Ashok Pandey and Sandeep Singh Choudhary, both Indian nationals are among ten individuals, vessels and entities sanctioned by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) in its latest moves against the network of Houthi financial facilitator Sa’id al-Jamal. All are said to have engaged in the illicit transport of oil and other commodities.
The action targets maritime shipping and financial facilitators, the two...
Tanker operator faces US treasury sanctions for illicit transfers of oil to Iran
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) is taking additional action against Iranian military revenue generation, targeting shipping company Oceanlink Maritime DMCC for facilitating the shipment of Iranian commodities on behalf of Iran’s Armed Forces General Staff (AFGS) and Ministry of Defence and Armed Forces Logistics (MODAFL). OFAC is also […]
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OPINION | Russia’s shadow tanker fleet runs into trouble
Barring new evasive techniques by Kremlin technocrats, the rapid rise in Russia’s shadow tanker fleet since the Ukraine war may be reversing as pressure is brought to bear on India and other countries that have discreetly helped Russia beat oil and gas shipping sanctions. The agency waging its own...
OFAC moves to stem flow of Iranian funding to Houthis
As the Houthi attacks that began with the hijacking of the Galaxy Leader continue to disrupt Red Sea shipping, the U.S. is moving to stem the flow of the Iranian money that is helping sustain those activities.
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today designated one individual and three entities that, it says, are responsible for facilitating the flow of Iranian financial assistance to Houthi forces,
Among those designated today is the head of the...
OFAC sanctions three more Russian oil price cap busters
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today imposed sanctions on three entities and identified as blocked property three vessels that used Price Cap Coalition service providers while carrying Russian crude oil above the Coalition-agreed price cap.
Treasury says the action underscores its commitment, alongside its international partners, to responsibly reducing oil revenues that the Russian government can use to bankroll its brutal invasion of Ukraine.
Today...
https://www.marinelog.com/news/ofac-sanctions-three-more-russian-oil-price-cap-busters/
Feds fine Amazon for selling to sanctioned countries
The Trump Administration has fined Amazon (NASDAQ: AMZN) for selling goods and services to people and countries sanctioned by the United States for various criminal activities, including terrorism and the production of weapons of mass destruction.
Amazon agreed to a $134,523 settlement with the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) for “apparent violations that consisted primarily of transactions involving low-value retail goods and services for which the total...
https://s29755.pcdn.co/news/feds-fine-amazon-for-selling-to-sanctioned-countries
Will Venezuela sanctions spark another tanker spike?
Tanker owners have a love-hate relationship with U.S. sanctions. On one hand, sanctions can pull perfectly good fleet capacity from the market, causing spot rates to skyrocket. On the other, your own perfectly good fleet capacity can get pulled from the market.
What’s unnerving to tanker owners about U.S. sanctions is their apparent randomness: some ships get hit, others that perform the exact same voyages do not. It calls to mind the famous Shirley Jackson story, “The Lottery,” in which a...
https://s29755.pcdn.co/news/will-venezuela-sanctions-spark-another-tanker-spike