OFAC issues petroleum shipping advisory against Syria
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), along with the U.S. Department of State and the U.S. Coast Guard, has issued an advisory warning the global community to significant U.S. sanctions risks for any involved in petroleum shipments to Syria. There are significant risks of entities and individuals (e.g. insurers, shipping companies, financial institutions, vessel owners, managers, and operators) being targeted by the U.S. for sanctions if they are found to be participating in petroleum shipments to Syria.
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