OFAC Sanctions Guidance for the Maritime Shipping Industry

OFAC Compliance Advisory Issued on October 31, 2024

The sanctions regulations implemented by OFAC (Office of Foreign Assets Control) represent a significant compliance requirement for the maritime sector. It is crucial for all stakeholders in the industry to ensure the accuracy of shipping documents, monitor vessel position data, and conduct proper due diligence to mitigate the risk of violating sanctions.

The Sanctions Guidance for the Maritime Transportation Sector includes scenario-based analyses and recommendations regarding deceptive maritime practices such as vessel position manipulation, falsified origin documents, ship-to-ship transfers, and opaque ownership structures. OFAC encourages industry participants to adhere to sanctions compliance requirements and conduct the necessary reviews in cases of suspicious activities.

Click the link to access the full Sanctions Guidance for the Maritime Transportation Sector:
Attachment:

EK 1: Deniz Taşımacılığı Sektörü için Yaptırımlar Rehberi

Ek 2: Shipping Compliance Guidance

Resim Kaynağı: https://natlawreview.com/article/ofac-issues-additional-sanctions-guidance-maritime-shipping-industry#google_vignette

Haber Kaynağı: https://www.linkedin.com/posts/muhammad-khalilullah-52a295125_ofac-compliance-communique-activity-7258852292253077504-4DDw

24.01.2025