On August 3, 2015, the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) designated, among others, six Syrian entities as property in which the Government of Syria has an interest.
As a result of the listing, members involved in providing LPG and gasoil to Syria should very careful since transactions could be considered as material support, goods or services supplied to the Syrian Government. The Syrian Company for Oil Transport (“SCOT”) is a Syrian Government-owned entity which is also listed on the SDN list. For further information, please see attached briefing note from U.S lawfirm FREEHILL HOGAN & MAHAR LLP.
Member Alert is published by The Swedish Club as a service to members. While the information is believed correct, the Club cannot assume responsibility for completeness or accuracy.