English
BACK TO KNOWLEDGE
This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
IRAN SANCTIONS: THE END OF SIGNIFICANT REDUCTION EXEMPTIONS
Published: 25 April 2019
On 22 April 2019 the US State Department announced that it will not be renewing the significant reduction exemptions granted in November 2018 to China, Greece, India , Italy, Japan, South Korea, Taiwan and Turkey to continue to import Iranian crude oil. The current exemptions expire on 2 May 2019. Shipowners and ships carrying Iranian crude oil after that date to any of these countries are at risk of breaching US sanctions regulations.
We wish to thank New York law firm Freehill Hogan & Mahar for bringing the latest US sanctions developments to our attention.