الأربعاء، 14 أكتوبر 2009

US sanctions against Iran affect forwarders everywhere


The UK government has submitted a directive to Parliament under the Counter-Terrorism Act 2008 that requires the UK financial services sector to cease all business with the Iranian Bank Mellat and the Islamic Republic of Iran Shipping Lines.

This followed recent news that UK forwarders working for US counterparts could find themselves subject to US action for shipping goods to or from Iran or if Iranian vessels are used.

The British International Freight Association (BIFA) warns its membership that new sanctions being taken by the US against Iran may make UK forwarders subject to punitive action by the US government should they be judged to have assisted US companies in trading with Iran.

The US regulations mean that any American entity facilitating trade with Iran, in any form, could be targeted.

BIFA understands that this will bring non-US subcontractors into scope and can apply to worldwide movements, not solely those to or from the US.

Companies that fail to comply will face the possibility of asset-seizure and restrictions on access to US markets if they either arrange shipment or carry restricted cargo to Iran.

The issue is further complicated by new measures to stop the use of Iranian vessels that have been re-registered in other countries.

The American authorities have issued a list of some 155 ships that may not carry American-origin goods and on which freight forwarders and shippers may not charter or book cargo.

BIFA urges its members to consult that list in order to avoid the named vessels and avoid the consequences of having shipments onboard those vessels.

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