Iran Sanctions Breach Suspicion Prompts Bank to Seize Ships

By Saket Sundria, Serene Cheong and Dan Murtaugh (Bloomberg) --Reports alleging that fuel tankers appeared to breach U.S. sanctions against Iran were cited in court filings by a bank as it sought to seize the ships, accusing the owners of loan default. The accusations, which led to the the temporary arrest of the vessels in Singapore late last month, come as the U.S. seeks … [Read more...]

U.S. Senate Panel Backs Nord Stream 2 Pipeline Sanctions Bill

By Timothy Gardner and Patricia Zengerle WASHINGTON, July 31 (Reuters) - A U.S. Senate committee passed a bill on Wednesday to slap sanctions on companies and individuals involved in building the Nord Stream 2 gas pipeline from Russia to Germany that the Trump administration says would strengthen Moscow's economic grip on Europe. The Senate Foreign Relations Committee passed … [Read more...]

U.S. Sanctions China State Oil Trader for Iran Crude Violation

By Serene Cheong and Alfred Cang (Bloomberg) --The U.S. has sanctioned a Chinese state oil trader for violating restrictions on Iranian crude, an attempt to tighten restrictions on the Islamic Republic and cut off one of its biggest buyers. Zhuhai Zhenrong Co., the secretive company with links to the Chinese military, has a history of taking Iranian crude and fuel, at times … [Read more...]

Panama to Pull More Flags from Vessels Violating Sanctions

By Marianna Parraga and Elida Moreno PANAMA CITY, July 12 (Reuters) - Panama will withdraw its flag from more vessels that violate sanctions and international legislation, the country's maritime authority told Reuters, following the removal of about 60 ships linked to Iran and Syria from the Panamanian registry in recent months. After the re-imposition of sanctions on … [Read more...]

Going Dark and Faking Voyages: These are the Tricks Ships Use to Avoid Sanctions

(Bloomberg) -- As the U.S. looks to enforce sanctions aimed at halting trade with states such as Iran and Venezuela, there’s increased scrutiny on the tricks being used to keep commodities flowing to and from blacklisted countries. Ships vanishing from tracking screens, clandestine transfers on the high seas and fake destinations are among some of the tactics used to hide … [Read more...]