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UK freight forwarders alerted about US sanctions against Iran

10-19-2009 12:41 PM CET | Logistics & Transport

Press release from: British International Freight Association

The British International Freight Association (BIFA) – bifa.org - is urging its membership which includes most of the UK’s freight forwarding companies to be aware that new sanctions being taken by the United States against Iran may make them subject to punitive action by the US Government should they be judged to have assisted US companies in trading with Iran.

New regulations in the USA mean that any American entity facilitating trade with Iran, in any form, could be targeted. We understand that this will bring non-US subcontractors into scope and can apply to worldwide movements not solely those to or from the USA

Companies, which fail to comply, will face the potential of asset-seizure and restrictions on access to US markets if they either arrange shipment or carry restricted cargoes to Iran.

The issue is further complicated by new measures to stop the use of Iranian vessels that have been re-registered in other countries. The American authorities have issued a list of some 155 ships that may not carry American-origin goods and upon which freight forwarders and shippers may not charter or book cargo.

BIFA is encouraging its members to consult that list in order to avoid the named vessels and avoid the consequences of having shipments onboard those vessels.

The list of banned vessels can be found at: http://www.treas.gov/offices/enforcement/ofac/actions/20080910.shtml

The British International Freight Association (BIFA) represents UK companies engaged in the international movement of freight by all modes of transport. A not-for-profit organisation, BIFA is funded by subscription and run by its members for members. It operates with a full-time Secretariat, which administers and manages the Association’s affairs. BIFA provides an effective and proactive organisation dedicated to improving standards of professionalism within the logistics and supply chain industry.

Ian Matheson/Jane Finlay
IMPRESS COMMUNICATIONS LTD
DMR House
8-10 Cleave Avenue,
Farnborough, Orpington
Kent BR6 7DR
UNITED KINGDOM

Tel: +44 (0) 1689 860660
Fax: +44 (0) 1689 850484
e-mail: impcomms@yahoo.co.uk

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