Emergency Contact Webinar - Sanctions: What to watch out for in a fast changing world - recording available Home Latest updates News Webinar - Sanctions: What to watch out for in a fast changing world - recording available 19 Dec 2019 Download Sign up for alerts The Shipowners' Club hosted its first webinar on the topic of Sanctions: 'What to watch out for in a fast changing world'. During the webinar, speakers Britt Pickering, Director — Claims & Legal and Camilla Slater, Head of Legal, provided an overview of the different types of sanctions, discussed key recent developments and how they impact shipping and summarised the actions Members can take to protect themselves against the associated risks. Transcript of Q&A Q. You mentioned the vessels listed on the OFAC advisories and that there were consequences for those vessel owners and operators? Could you explain a bit more about that please? That’s a very interesting question and I am pleased someone has raised that. The listing on those advisories is different as this is a new phenomenon. It is not the same as listing as an SDN but in many ways the consequences are just as severe. These listings show that OFAC are looking and monitoring.  Once you are listed it is going to be difficult to do business, to charter the vessels, to make payments.  Banks will be adverse to touching that vessel. It is also unclear how to remove a vessel from an advisory. Q. If an owner or vessel is listed as an SDN, is there a way to apply to OFAC to be de-listed? A. I think as far as understand it, although we are not US lawyers, that there is a process for removal as an SDN, although this can be a long and uncertain process. The listing on the advisories is different and we do not know a way to be removed. It would be very difficult for an Owner to continue to trade whilst a vessel is on an advisory Q. Where would you start with a compliance program and would you use the OFAC framework as a platform for compliance p