Global Trade and Sanctions

ABS established this website to provide a helpful resource to our clients and suppliers as you navigate the fluid global trade and sanctions regulatory landscape.  It includes general information, regulatory updates, and other developments about global trade and sanctions involving the U.S., UK and UN. 

The information included within this website does not represent business or legal advice.  Any opinion expressed on this website is solely the opinion of ABS and its contributors.  Please consult your legal counsel for any in-depth evaluation or advice about the information included within this website.  

U.S. and UK Advisories

  • In May 2020, the U.S. Department of State, the U.S. Department of the Treasury’s Office of Foreign Assets Control, and the U.S. Coast Guard issued an advisory entitled “Guidance to Address Illicit Shipping and Sanctions Evasion Practices”. The guidance 
    covers various deceptive practices that are used to evade sanctions in the maritime industry and energy and metals sectors.
  • The guidance includes 11 specific recommendations to classification societies to mitigate sanctions risks. It also includes separate recommendations for ship owners, managers, operators, brokers, ship handlers, flag registries, port operators, shipping companies, freight forwarders, commodity traders, insurance companies, and financial institutions.
  • In July 2020, the UK Office of Financial Sanctions Implementation issued a similar advisory entitled “Maritime Guidance”.

Download the U.S. and UK Advisories Below