Us Department Of The Treasury News

The Federal Maritime Commission approved a settlement agreement reached between its Bureau of Enforcement (BoE) and Hapag-Lloyd AG (Hapag-Lloyd) where the ocean carrier will pay a $2 million civil penalty to address alleged violations related to their detention and demurrage practices.“To restore full confidence in our ocean freight system, vigorous enforcement of FMC rules is necessary. Specifically, we must ensure powerful ocean carriers obey the Shipping Act when dealing with American importers and exporters.

Earlier this year, The U.S. Department of State, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), and the U.S. Coast Guard issued a new advisory to provide those engaged or involved in trade in the maritime industry with further information and tools to counter illicit shipping and sanctions evasion.The advisory is representative of the U.S. Government’s increasingly detailed efforts towards addressing these issues, as illustrated by OFAC’s recent sanctions actions which show a trend of incremental but clear extension of oversight.

In May 2020, the US Department of State, US Department of the Treasury’s Office of Foreign Assets Control (OFAC), and US Coast Guard issued a joint Sanctions Advisory for the Maritime Industry. The advisory builds on and expands several prior sanctions advisories for the maritime community issued in 2018-19.The advisory is intended as a guidepost to help participants in the maritime sector achieve the desired level of compliance. Most of the guidance is couched in the language of suggestion (e.g., parties “may wish to consider…”), rather than as a mandate.

A shipment of artisanal charcoal made its way from Cuba to Port Everglades aboard Crowley’s container ship K Storm, marking the first truly commercial shipment from a Cuban cooperative to a private U.S. business since the U.S.-Cuba trade embargo was imposed more than 50 years ago. Crowley was the first U.S. carrier to obtain a license from the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury to provide regularly scheduled common carrier services for licensed cargo from the U.S. to Cuba. Crowley launched its Cuba service in December 2001, becoming the first U.S. carrier to reenter the country in nearly 40 years, and has maintained a regularly scheduled service ever since, currently operating from Port Everglades in Florida.

Around 50 ships owned by or related to North Korea have reflagged in Tanzania since the United Nations Security Council adopted its strongest-ever resolution on the country in March, in an apparent attempt to circumvent the sanctions. "The change of nationality into Tanzania comes in violation of the UNSC resolution," a report in Korea Herald said, indicating Resolution 2270's ban on North Korean ships sailing under the flag of other countries. The group of vessels includes one ship blacklisted by the U.N.'s sanctions committee and the U.S. Department of the Treasury, the Washington, D.C.-based NK News said, citing European shipping database Equasis and Port State Control.

U.S. lifts 2012 Iran sanctions against three trader companies; Kuo Oil seeks to load two Iranian fuel oil cargoes. Kuo Oil, a Singapore-based oil trading company, is seeking ships to load Iranian fuel oil, according to a shipping broker report, now that it is finally clear of U.S. trade sanctions imposed in 2012 for trading with the country. The United States lifted the sanctions on Saturday against Kuo, also known as Kuo International Bunkering, as part of its broader relaxation of sanctions against Iran for compliance with an agreement to curtail its controversial nuclear programme. The sanctions were handed down on Kuo in January 2012 for providing over $25 million in refined petroleum products to Iran between late 2010 and early 2011.

The dirty money can and does wash ashore on the waterfront. Despite all the jokes about having a washing machine full of soapy hundred dollar bills, the U.S. Government takes money laundering very, very seriously. Anti-Money Laundering (AML) laws include substantial fines and possible prison time and places the onus for recognizing and reporting money laundering squarely on the shoulders of financial institutions. And yet, we don’t necessarily associate ‘dirty money’ with the mundane world of moving cargo or people from point ‘a’ to point ‘b.’ If so, that’s probably a mistake.

Carnival Corp. granted U.S. Carnival Corporation & plc said that the U.S. Department of the Treasury and the U.S. Department of Commerce granted approval for the company to begin travel to Cuba. Carnival Corporation intends to take travelers to Cuba beginning in May 2016 via its newly launched fathom brand – a new social impact travel brand providing purpose-oriented, social impact experiences, initially in the Dominican Republic. Carnival Corporation intends to operate fathom travel itineraries directly to Cuba for the purpose of providing cultural…

The primary focus of last year’s annual update, which appeared in the April 2011 issue, was U.S. efforts to tighten economic sanctions against Iran. Over the past year, U.S. pressure on Iran has intensified. Syria also has been a target of new U.S. sanctions, while the sanctions against Libya imposed in early 2011 have been eliminated for all practical purposes by a series of general licenses. Our 2012 update concentrates on these key U.S. developments, but readers should be aware that these were not the only recent changes to U.S. and international sanctions programs.

The primary focus of last year’s annual update, which appeared in the April 2010 issue, was U.S. efforts to tighten economic sanctions against Iran. The last several months have seen these efforts come to fruition, as well as imposition of new sanctions affecting Libya, North Korea, and Somalia. Our 2011 update concentrates on these key developments, but readers should be aware that these were not the only changes to sanctions programs administered by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) over the past year. As always, remaining abreast of all applicable embargoes and sanctions must be a priority for international businesses. U.S. Developments. On July 1, 2010, long sought amendments to the Iran Sanctions Act (“ISA”) became law.

The U.S. Department of the Treasury issued a Press Release stating that it is extending through 2005 the “make available” provision of the Terrorism Risk Insurance Act (TRIA). This provision requires certain insurers to make available in all their commercial property and casualty insurance policies coverage for losses due to covered acts of terrorism in a manner that does not materially differ from the terms, amounts, and other coverage limitations applicable to losses arising from events other than acts of terrorism. (HK Law).

By Barbara D. Recent changes to U.S. economic sanctions programs have resulted in both new opportunities and new restrictions for offshore service vessel operators. In April, the United States substantially reduced restrictions on trade with Libya. However, these actions were followed in early May by the imposition of a new embargo against Syria. In addition, over the past several months, many additional individuals and entities have been designated as subject to trade sanctions, and the Secretary of Homeland Security has been granted authority to take various measures to prevent the unauthorized entry of vessels into Cuban territorial waters.

The U.S. Department of the Treasury issued the current list of countries which may require participation in, or cooperation with, an international boycott that is inconsistent with U.S. law. The current list consists of: Bahrain, Kuwait, Lebanon, Libya, Oman, Qatar, Saudi Arabia, Syria, United Arab Emirates, and the Republic of Yemen. 69 Fed. Reg. 42085 (HK Law).

To clarify and expand upon the item in yesterday’s newsletter regarding entry into Cuban waters, the new U.S. Coast Guard regulation prohibits vessels of less than 100 meters in length that are subject to U.S. jurisdiction from traveling to and entering Cuban territorial waters unless such vessel shall first have obtained a written permit from the Commander, Seventh Coast Guard District. When requesting such permit, the applicant must show that it has a valid and applicable license issued by the U.S. Department of Commerce for export of the vessel to Cuba and a valid and applicable license issued by the U.S. Department of the Treasury authorizing travel-related transactions in Cuba. Unauthorized departures may result in a civil penalty of up to $25,000 per day.

The U.S. Department of the Treasury has published in the Federal Register the interim guidance concerning certain conditions for Federal payment under the Terrorism Risk Insurance Act of 2002. This document repeats guidance issued earlier in the form of a Press Release. 68 Fed. Reg. 4544

American Detection Technologies, Inc. has signed a contract with Carnival Cruise Lines to provide canine screening for all Carnival vessels. Carnival locations where provisioning is done. Canaveral, Tampa, Gulfport, New Orleans, Galveston, St. Norfolk, and Charleston. begin imminently. services," said Ronald H. Allen, Chief Executive Officer of AMDETECH. Robert W. of our guests is our highest priority. effort in researching and selecting a canine company. as their ability to service all of our locations. Worcester, Massachusetts office. meeting the standards required by the U.S. standards. narcotic detection and police patrol and tracking. been trained by the Federal Aviation Administration (FAA), U.S. Enforcement, U.S. Firearms (ATF), and the U.S. Dept. of Transportation.