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TCH Releases Guiding Principles for Sanctions Issues Related to Shipping and Financial Products

Guiding Principles for Sanctions Issues Related to Shipping and Financial Products is the product of the BAFT/TCH Sanctions Working Group, which is comprised of sanctions experts in the world’s leading U.S. and international financial institutions regulated in the United States.  The principles seek to assist financial institutions by distinguishing between types of shipment-related transactions that should and should not be considered to be prohibited by OFAC regulations due to their nexus to sanctioned countries or ports.  The principles also recommend practical compliance practices for financial institutions that deal with such issues.