With Sanctions Guidance, US Details Expectations for Shipping
The US government has put its expectations for shipping in writing.
The country's Treasury and State departments and its Coast Guard released a 35-page document Thursday outlining steps shipping can take to avoid running afoul of its sanctions regime targeting North Korea, Syria and Iran.
The notice effectively tells the industry exactly what the US expects as it continues its aggressive enforcement.
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Thursday's advisory was more comprehensive and holistic, covering everyone from shipowners to P&I clubs to banks to ship captains, according to Blank Rome attorney Matthew Thomas.
The document contains several pages where the government details recommendations specific to each part of the shipping industry.
"It's more detailed and robust than what they've done in the past," Thomas said.
"Big picture, this is not a regulation. It's not mandatory. They're guidelines" that can cut down the risk of running afoul of US sanctions, he said.
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“With Sanctions Guidance, US Details Expectations for Shipping,” by Matt Coyne and Max Lin was published in TradeWinds on May 18, 2020.