U.S. Sanctions Russian Firms, Vessels Over N. Korea Oil Transfers

Posted by Michelle Howard
Tuesday, August 21, 2018

The United States on Tuesday announced sanctions on two Russian shipping companies and six vessels it said were involved in the transfer of refined petroleum products to North Korean vessels in violation of U.N. restrictions.

The U.S. Treasury identified the firms as Vladivostok-based shipping companies Primorye Maritime Logistics Co Ltd (Primorye) and Gudzon Shipping Co LLC (Gudzon).

It also named six Russian-flagged vessels: Bella, Bogatyr, Neptun, Partizan, Patriot and Sevastopol.

"Ship-to-ship transfers with North Korea-flagged vessels from Russia or elsewhere of any goods being supplied, sold, or transferred to or from (North Korea) are prohibited under the U.N. Security Council resolutions on North Korea and are sanctionable under U.S. law," U.S. Treasury Secretary Steven Mnuchin said in a statement.

"Consequences for violating these sanctions will remain in place until we have achieved the final, fully verified denuclearization of North Korea.”

The United States has been pressuring North Korea via sanctions to give up its nuclear weapons program.

Tuesday's announcement came just days after Washington imposed sanctions on a Russian port service agency and Chinese companies for aiding North Korean ships and selling alcohol and tobacco to Pyongyang in breach of U.S. sanctions.

After last week's announcement, Russia said the United States had acted without evidence on the basis of groundless accusations when imposing sanctions on the Russian company. It said it was working on retaliatory measures.

Reporting by David Brunnstrom

Categories: Vessels Logistics Government Update Offshore Seawork

Related Stories

Valeura Starts Wassana Platform Installation Offshore Thailand

Oil Climbs on US Storm Threat, Saudi Attack Risks

Solstad Maritime Secures APAC Drilling Support Work for AHTS Pair

Oil Drops as Hormuz Reopening Prospects Ease Supply Concerns

Iran Outlines Terms for Restoring Hormuz Shipping

Iran Tightens Enforcement of Strait of Hormuz Transit Rules

Mermaid Maritime Expands Into US Offshore Market

QatarEnergy Prolongs LNG Force Majeure, Charters Out Tankers

Oil Rises on Dual Shipping Threat in Hormuz and Red Sea

Hormuz Crossings Decline as US Renews Iran Blockade

Current News

Valeura Starts Wassana Platform Installation Offshore Thailand

Oil Stabilizes as IEA Moves to Speed Up Emergency Stock Releases

Yinson Production Raises $1.46B to Refinance Agogo FPSO

Oil Climbs on US Storm Threat, Saudi Attack Risks

KBR to Support Aramco’s Marjan Offshore Field Upgrade

Oil Industry Braces for Years of Market Disruption

Eni Taps Yinson Production for Major Ghana FPSO Gas Upgrade

ADNOC Signs Multi-Year LNG Supply Deal with Thailand’s Gulf Group

Iran Set to Keep Hormuz Shut Until Seven Demands Are Met

LNG Flows Through Hormuz Hit Seven-Month High

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com