In the Headlines
January 20, 2015

Gard Warns of Iranian Oil Transfer Risks

IHS Maritime 360

Recent evidence of a smuggling operation to move Iranian oil in ship-to-ship oil transfers puts shipowners at considerable risk.

The U.S. and European Union have imposed sanctions on Iran since 2011. Attorney Jonathan Epstein advised in 2013 that, "Non-U.S. vessel owners/operators may be sanctioned for transporting crude oil, petroleum products, or petrochemicals from Iran to third countries."

"A non-US vessel owner/operator could be sanctioned for: (i) offloading Iranian crude oil offshore or in third countries where there is an intent to conceal the origin of the crude oil; or (ii) assisting Iranian shipping companies in disguising the ownership or location of their vessels," he added.

READ: Gard Warns of Iranian Oil Transfer Risks

Related News and Headlines