Companies that charter and insure ships face a new reality: Sanctions are a growing risk to vessels and their cargo.
The U.S. is increasingly wielding sanctions as a weapon against countries such as Iran and Venezuela. The swift imposition of sanctions means a vessel and its cargo can be seized or stuck in limbo on the world’s oceans at any moment.
“I’ve been involved in a number of cases where tankers have been designated for trade sanctions midvoyage,” said Matthew Thomas, a partner at Blank Rome in Washington, D.C., who specializes in trade sanctions.
Thomas said in each case the sanctioned vessels were carrying cargo for companies such as global oil majors. Although the ships were penalized for activity that took place months earlier, and had no connection to the cargo owners, they sometimes struggled to quickly recover their goods, he said.
To read the full article, please click here (subscription required).
“Sanctions Pose Growing Risk for Shipping,” by Paul Berger, was published in Dow Jones Risk Journal on December 23, 2025.
