Russia-related Designations; Publication of Maritime Oil Industry Advisory; Issuance of Russia-related General License

The Office of Foreign Assets Control (OFAC) has published a new press statement to inform about new sanction measures. Specifically, the Office added two entities and two 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:
#### Sanctioned entities
ICE PEARL NAVIGATION CORP, Ucpinarlar Caddesi 36, Kucuk Camlica, Uskudar 34696, Turkey; Marshall Islands; Identification Number IMO 4118745 [RUSSIA-EO14024].
LUMBER MARINE SA, Office OT 17-32, 17th Floor, Office Tower, Central Park Towers, Dubai, United Arab Emirates; 80 Broad Street, Monrovia, Liberia; Identification Number IMO 5463420 [RUSSIA-EO14024].
#### Sanctioned vessels
SCF PRIMORYE (A8SW6) Crude Oil Tanker Liberia flag; Vessel Registration Identification IMO 9421960; MMSI 636014308 (vessel) [RUSSIA-EO14024] (Linked To: LUMBER MARINE SA).
YASA GOLDEN BOSPHORUS (V7KQ8) Crude Oil Tanker Marshall Islands flag; Vessel Registration Identification IMO 9334038; MMSI 538002662 (vessel) [RUSSIA-EO14024] (Linked To: ICE PEARL NAVIGATION CORP).
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Furthermore, OFAC has issued a new Russia-related General License 73 to permit otherwise prohibited (financial) transactions in relation to the newly designated shipping firms or any entities owned or controlled by them. 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.
OFAC has also issued an accompanying statement to explain the reasoning behind this measure.
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Finally, OFAC announces the publication of the new Price Cap Coalition Advisory for the Maritime Oil Industry and Related Sectors which is covered in a different event (EventID 23298).