Jeremy Paner Discusses Continued U.S. Sanctions Targeting Iran’s "Shadow Fleet" with Bloomberg
OFAC provides wind-down period for vessels blocked in latest Iran sanctions designations.
Highlights
U.S. Treasury Department sanctions three shipping companies and a Greek law firm that it alleges supported shipping Iranian oil or petrochemicals.
OFAC identified 9 vessels as blocked property of the sanctioned shipping companies.
Paner explained that the authorizations involving the vessels are standard when OFAC blocks vessels and helps avoid issues involving stranded mariners or abandoned tankers.
Jeremy Paner discussed with Bloomberg new U.S. sanctions targeting participants in the “shadow fleet” used to transport Iranian oil or petrochemicals.
The sanctions target three shipping companies, 9 vessels, and a Greek law firm that the Treasury Department’s Office of Foreign Assets Control (OFAC) alleges supported shipping Iranian oil or petrochemicals. OFAC concurrently issued general licenses authorizing the wind-down of certain transactions involving the blocked vessels.
Paner explained that the temporary authorizations are “standard when OFAC sanctions vessels” and avoids “situations like mariners being stranded at sea or environmental issues arising from abandoned tankers.”
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