U.S. Issues New North Korean and Syrian Shipping Advisories
View Debevoise Update
- The U.S. Government has issued updated guidance to the petroleum, shipping and maritime insurance industries regarding evasion of sanctions by the governments of North Korea and Syria.
- Building on previous versions, the advisories describe practices used to conceal the origin and destination of illicit cargo, including ship-to-ship transfers and the disabling or manipulating of a ship’s Automatic Identification System.
- The advisories now recommend best practices to maritime insurers, oil traders and others for detecting and avoiding potentially noncompliant transactions.