Law360 Quotes Mac Fadlallah on US Sanctions on Russian Ships
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For its article “US Takes Russia Sanctions Showdown To Sea,” Law360 quoted Akin international trade partner Mac Fadlallah. The article discusses U.S. sanctions announced on October 12 that target two vessels in Russia’s “dark fleet” of tankers. The sanctions, Law360 reports, punish ships that transport Russian oil sold at prices above a $60 a barrel price and that employ U.S. maritime services in doing so.
Mac said that the surgical approach that the Treasury Dept. Office of Foreign Assets Control (OFAC) took in designating the two ships individually speaks to the care that OFAC has taken not to cause unnecessary disruption.
He added, "This [administration's] OFAC in particular has gone to great lengths to assess what the economic impact will be and whether there will be any unintended consequences associated with any particular sanctions actions.”
Mac noted that OFAC's Specially Designated Nationals list is "one of the closest things that this world has to a global blacklist," the roster of individuals and entities barred from any kind of transactions touching the U.S. now including the SCF Primorye and the YasaGolden Bosphorus.
