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Release Date:
Release ID: 4309

UK freight forwarders alerted about US sanctions against Iran

The British International Freight Association (BIFA) www.bifa.org - is urging its membership which includes most of the UKs freight forwarding companies to be aware that new sanctions being taken by the United States against Iran may make them subject to punitive action by the US Government should they be judged to have assisted US companies in trading with Iran.

New regulations in the USA mean that any American entity facilitating trade with Iran, in any form, could be targeted. We understand that this will bring non-US subcontractors into scope and can apply to worldwide movements not solely those to or from the USA

Companies, which fail to comply, will face the potential of asset-seizure and restrictions on access to US markets if they either arrange shipment or carry restricted cargoes 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 upon which freight forwarders and shippers may not charter or book cargo.

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

The list of banned vessels can be found at: http://www.treas.gov/offices/enforcement/ofac/actions/20080910.shtml

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