US enforces key Iranian Vessels designations

On 8 June 2020, the sanctions against the Islamic Republic of Iran Shipping Lines (IRISL) and its Shanghai-based subsidiary, E-Sail Shipping Company Ltd (E-Sail) have come into effect.

Who? Department of the Treasury’s Office of Foreign Assets Control (OFAC)

When? 8 June 2020

Document: SDN Update, Press release

Why does it matter?

The United States applies economic, trade, scientific and military sanctions against Iran.

After the U.S. withdrawal from the Joint Comprehensive Plan of Action, the United States has imposed several new non-nuclear sanctions against Iran. In August 2018 the Trump administration reimposed the sanctions and warned that anyone doing business with Iran will not be able to do business with the United States.

The Office of Foreign Assets Control (OFAC) administers and enforces U.S. economic and trade sanctions. It publishes lists of individuals and companies owned or controlled by or acting for or on behalf of, targeted countries.

What can I do?

It is forbidden to engage in certain commercial activities related to Iran. Businesses, therefore, may:

  1. Identify parties and entities on a restricted party list.

  2. Put processes and procedures in place to make sure they comply with the laws related to the sanctions imposed.

More Information

Identify which vessels are included. Access press release and listing directly

Expert to Contact

Arne Mielken

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