U.S. clarify Iran sanctions regarding bunkering operations
The U.S. department of the Treasury’s Office of Foreign Asset Control (OFAC) has clarified the FAQs regarding Iran sanctions for bunkering operations.
Notably, even for vessels carrying lawful cargo to and from Iran, the provision of bunkers is unlawful and subject to U.S. secondary sanctions wherever it takes place in the event the bunkering operation involves, inter alia, U.S. financial institutions.
This means that a bunkering operation taking place in, for instance, Singapore and which is paid for in US dollars will be subject to U.S. secondary sanctions in the event the vessel subsequently calls (or has previously called) Iran.
Read the clarified FAQ from OFAC » (5 September 2019)
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