OFAC sanctions are a Treasury function

Sanctioned Singapore oil and gas trader reacts to OFAC designation

On February 9, Singapore’s Unicious Energy Pte Ltd was among nine companies targeted by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) for facilitating the sale and shipment

Kwek has now been designated under OFAC sanctions

OFAC slaps sanctions on FBI-wanted shipowner

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) last week designated two individuals and three entities for activities related to the exportation of petroleum to the Democratic People’s

Helsinki Shipyard couldn't export tyhis icebreaker to Russia

Finland bans export of icebreaker to Russia

Finnish broadcaster YLE reports that the Finnish Ministry for Foreign Affairs has denied Helsinki Shipyard an export license for an icebreaker on order for Russian mining firm Norilsk Nickel. Norilsk Nickel is

Wartsila is pulling out of Russia

Wärtsilä pulls out of Russia

Wärtsilä Corporation is to write-off approximately EUR 200 million (about $217 million) related to assets and business operations in Russia. A statement released by the company today says: “Wärtsilä strongly condemns the

Seizure of oligarch's yact

VIDEO: U.S. and Spanish authorities seize Russian oligarch’s yacht

Spain’s Guardia Civil today executed a Spanish court order freezing the motor yacht Tango, a 255-foot luxury yacht owned by sanctioned Russian oligarch Viktor Vekselberg. The Tango (IMO number 10107030 is believed to be worth approximately

Lloyd's Register

Lloyd’s Register withdraws services to Russia

As Russian aggression in Ukraine continues, more organizations are continuing to cease providing services to Russian-controlled entities. Today, classification society Lloyd’s Register (LR) said it is disengaging from provision of all services

Treasury sanctions list includes Putin's yachts

5 ships subject to U.S. Treasury Russia sanctions

The U.S. Treasury’s Office of Foreign Asset Controls (OFAC) has issued an extensive list of Russian entities and individuals subject to economic sanctions imposed in response to Russian actions in Ukraine. Among

ship to ship transfer

Skuld: Ship-to-ship transfers raise red flags

Mutual insurer Skuld notes that cargo trackers have noticed increased ship-to-ship (STS) transfers at sea, most commonly off Malaysia, Africa and in the Caribbean, as sanctioned countries such as Iran and Venezuela

ship alongside at pier following seizure

U.S. seizes sanctions busting tanker

U.S. authorities have yet to lay their hands on the alleged owner and operator of a tanker at the center of a sanctions busting scheme, but they have the ship. On Friday,

Treasury sanctions list includes Putin's yachts

Shipowners and P&I clubs turn to predictive intelligence to ensure sanctions compliance

While sanctions-busting countries continue to find new way to cloak their maritime activities, the shipping industry faces increasing sanctions compliance requirements from agencies such as the U.S. Treasury’s Office of Foreign Assets

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