After many rumors of potential changes to the U.S. policy on Venezuela, on October 18, 2023 the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued four general licenses, representing a significant shift in its Venezuela sanctions program.  Most pertinent for the shipping industry, certain sanctions that were in place against Petróleos

Companies and individuals alike have struggled to keep on top of the increased sanctions risks emanating from the heightening of international tensions in recent years. Recently, two English law cases, Havila Kystruten AS and Others v. STLC Europe Twenty Three Leasing Ltd and Another [2022] EWHC 3166 (Comm) (referred to as the Havila case) and

The UK, EU and U.S. have each released information on the relevant price cap for oil products with HS/CN Code 2709 of Russian origin or exported from Russia shortly before the ban on maritime services for the transportation of Russian crude oil on December 5th, 2022. This announcement follows the publication of the UK’s “Maritime