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Advice, Loss Prevention

U.S. issues strong warnings against petroleum trade with Syria

On November 20, 2018 the U.S. Department of the Treasury’s Office of Foreign Asset Control (“OFAC”) issued an Advisory to the Maritime Petroleum Shipping Community setting forth a strong warning against transporting petroleum to the Syrian Government.

The Advisory states in no uncertain terms that any parties involved with petroleum shipments to the Government of Syria, which is broadly defined, are at risk of being targeted by the United States for sanctions. While the Advisory places emphasis on petroleum products, involvement in other imports or exports to or from the Syrian Government may also result in the imposition of sanctions.

Read the Advisory Sanctions Risks Related to Shipping Petroleum to Syria (from Dept of Treausury OFAC)