The US Treasury’s Office of Foreign Assets Control (“OFAC”) has issued new guidance informing the maritime industry of sophisticated sanctions-evasion schemes, outpointing specific “red flags,” and providing recommendations for shipping stakeholders on how to navigate compliance risks.
“OFAC is publishing this scenario-based guidance to aid maritime sector stakeholders in identifying certain new or common fact patterns that may be indicative of sanctions evasion, addressing common counterparty d...
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