Year: 2021 Language: english Author: North P&I Club Format: PDF Quality: eBook Pages count: 46 Description: Sanctions are an ever more popular tool used by the United Nations, the United States, the European Union, the United Kingdom and individual states as a visible sign of disapproval and as a means of achieving foreign and economic policy goals. Sanctions, and the enforcement of sanctions, are also increasingly focussed on the maritime and insurance industries. This focus on the maritime and insurance industries means that sanctions will inevitably affect your day-to-day business. The consequences of non-compliance can be severe. It is essential that you understand the risks and put in place measures to reduce and manage those risks. This guide is split into three sections: Firstly, we have put together an introduction to sanctions and how we suggest you approach sanctions issues and questions. Secondly, we have set out some thoughts on due diligence and steps that you should consider taking to try to prevent any inadvertent breaches of sanctions. Thirdly, we have included quick reference guides to the sanctions imposed by the EU and U.S. against the countries. This guide focuses on the application and scope of the U.S., EU and UK sanctions, but you should bear in mind that individual states also apply their own sanctions which may well apply to you.
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Sanctions | A Guide to Owners and Charterers
Language: english
Author: North P&I Club
Format: PDF
Quality: eBook
Pages count: 46
Description: Sanctions are an ever more popular tool used by the United Nations, the United States, the European Union, the United Kingdom and individual states as a visible sign of disapproval and as a means of achieving foreign and economic policy goals.
Sanctions, and the enforcement of sanctions, are also increasingly focussed on the maritime and insurance industries.
This focus on the maritime and insurance industries means that sanctions will inevitably affect your day-to-day business. The consequences of non-compliance can be severe. It is essential that you understand the risks and put in place measures to reduce and manage those risks.
This guide is split into three sections:
Firstly, we have put together an introduction to sanctions and how we suggest you approach sanctions issues and questions.
Secondly, we have set out some thoughts on due diligence and steps that you should consider taking to try to prevent any inadvertent breaches of sanctions.
Thirdly, we have included quick reference guides to the sanctions imposed by the EU and U.S. against the countries.
This guide focuses on the application and scope of the U.S., EU and UK sanctions, but you should bear in mind that individual states also apply their own sanctions which may well apply to you.
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