A merican Club Circular No. 02/17 1 JANUARY 17, 2017 CIRCULAR NO. 02/17 TO MEMBERS OF THE ASSOCIATION Dear Member: US ECONOMIC SANCTIONS - SUDAN The US Treasury Department’s Office of Foreign Assets Control (OFAC) today issued regulations lifting US economic sanctions against Sudan and the Government of Sudan. Transactions and activities previously prohibited under these sanctions will be generally authorized as of January 17, 2017 when the regulations take effect. The new regulations also authorize transactions involving property in which the Government of Sudan has an interest and no longer require the blocking of such property. The lifting of the sanctions was prompted by ongoing US-Sudan bilateral engagement and in response to positive developments in the country over the past six months related to bilateral cooperation, the ending of internal hostilities, regional cooperation, and improvements to humanitarian access. A copy of the regulations lifting the US sanctions against Sudan can be found at: https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/pages/20170113.aspx As a consequence of the lifting of the sanctions, the American Club’s provision of cover for trade with Sudan by its non-US person members is no longer prohibited or subject to OFAC authorization. Additionally, Members of the American Club who are US persons and operate US vessels are now authorized to trade with Sudan. Should Members wish to discuss any questions regarding any aspect of the foregoing or other sanctions in general, or for confirmations as to the availability of cover for voyages involving countries subject to US economic sanctions, they should contact: Charles J. Cuccia, Senior Vice President – Compliance & Enterprise Risk Management, ph +1 212 847 4539, mob +1 917 215 2883, charles.cuccia@american-club.com Yours faithfully, Joseph E.M. Hughes, Chairman & CEO Shipowners Claims Bureau, Inc., Managers for THE AMERICAN CLUB