U.S. sanctions advisory raises hurdles for global maritime industry

Ship owners and insurers say it may be impossible for the maritime industry to fully comply with the Trump administration’s new guidelines on how to avoid sanctions penalties related to Iran, North Korea and Syria, raising the risk of disruptions in a sector already struggling with the fallout of the coronavirus outbreak. The advisory issued this month marked the first U.S. sanctions guidance for the global maritime sector, and will test Washington’s ability to clamp down on violations without disrupting an industry that handles 90% of the world’s trade. The final version of the U.S. guidance, written after feedback from maritime professionals, asks for enhanced data-sharing between the shipping industry and U.S. authorities, constant location tracking of vessels, and industry-led investigations into suspicious activity.

from Yahoo News - Latest News & Headlines https://ift.tt/2Ag5YIK