The Office of Foreign Assets Control (OFAC) has published a new press statement to inform about new sanction measures. Specifically, the Office added three entities and three vessels to its Specially Designated Nationals and Blocked Persons List (SDN List) pursuant to Executive Order 14024 which was signed by President Joseph Biden in 2021 and subsequently amended to install sanction measures for engagements in or being responsible for „harmful foreign activities of Russia“. The entities and ships were designated for being engaged in the transport of Russian crude oil above the implemented price cap. The affected firms and vessels are the following:
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#### Newly sanctioned entities
HS ATLANTICA LIMITED, 80 Broad Street, Monrovia, Liberia; Identification Number IMO 6356766 [RUSSIA-EO14024].
STERLING SHIPPING INCORPORATED, Unit 27610 – 001, Building A1, IFZA Business Park, Dubai Silicon Oasis, Dubai, United Arab Emirates; Identification Number IMO 5206051 [RUSSIA-EO14024].
STREYMOY SHIPPING LIMITED, Unit 27610 – 001, Building A1, IFZA Business Park, Dubai Silicon Oasis, Dubai, United Arab Emirates; 80 Broad Street, Monrovia, Liberia; Identification Number IMO 5724311 [RUSSIA-EO14024].
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#### Newly sanctioned vessels
HS ATLANTICA (5LIP5) Crude Oil Tanker Liberia flag; Vessel Registration Identification IMO 9322839; MMSI 636022401 (vessel) [RUSSIA-EO14024] (Linked To: HS ATLANTICA LIMITED).
NS CHAMPION (A8FD9) Crude Oil Tanker Liberia flag; Vessel Registration Identification IMO 9299719; MMSI 636012384 (vessel) [RUSSIA-EO14024] (Linked To: STERLING SHIPPING INCORPORATED).
VIKTOR BAKAEV (D5BN6) Crude Oil Tanker Liberia flag; Vessel Registration Identification IMO 9610810; MMSI 636015565 (vessel) [RUSSIA-EO14024] (Linked To: STREYMOY SHIPPING LIMITED).
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Furthermore, OFAC has issued a new Russia-related General License 78 to permit otherwise prohibited (financial) transactions in relation to the newly designated shipping firms noted above or any entities owned or controlled by them (50% or more ownership interest). Specifically, the license permits (financial) transactions for the purpose of the „safe docking and anchoring“ of the ships, the purpose of provisions of repairs, or the purpose of „preservation of the health or safety of the crew“ provided that any payments to such firms be made into blocked accounts.
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OFAC has also issued an accompanying statement to explain the reasoning behind this measure.
Russia-related Designations; Issuance of Russia-related General License
ID
26043
Other Features
AFC
asset freezing
financial resources
sanctions
Ukrainian conflict
Date Published: 2023-12-01
Regulatory Framework: US Sanctions
Regulatory Type: procedure
ID 26974
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