United Nations Climate Change
Our aim is to help our clients understand the potential opportunities and challenges that COP25 may have on their business.
On 30 July 2015, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) added certain individuals and entities to the Specially Designated Nationals and Blocked Persons List (SDN List). In addition, it placed certain entities on the Sectoral Sanctions Identifications List (SSI List). Both moves related to Russia sanctions measures. Executive order 13685 contains a complete list of the parties that were newly designated on the SDN List and the SSI List. For full details, see https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20150730.aspx.
OFAC also issued a ‘Crimea Sanctions Advisory’ providing guidance on sanctions in relation to events in Crimea. Full details can be found at https://www.treasury.gov/resource-center/sanctions/Programs/Documents/crimea_advisory.pdf.
IMO 2020 is almost upon us. Readers are well aware of the impending switch to 0.5 percent fuel mandated by Annex VI of MARPOL which will cause an anticipated drop in HSFO demand, the potential hazards of new untested LSFO blends, the concerns around scrubber operations, the debate over open loop versus closed loop, and the myriad of other risks associated with the impending regulatory change.