The U.S. Departments of State and Treasury and the U.S. Coast Guard have issued a global advisory to alert the maritime industry and those active in the energy and metals sectors about common deceptive shipping practices used to evade sanctions. The guidance also describes seven sanctions compliance best practices to further aid the private sector to mitigate exposure to sanctions risks.
The advisory focuses on Iran, North Korea, and Syria. It’s intended primarily to provide guidance to the following: ship owners, managers, operators, brokers, ship chandlers, flag registries, port operators, shipping companies, freight forwarders, classification service providers, commodity traders, insurance companies, and financial institutions.
