LONDON: The United States will target shipping companies that are in breach of sanctions and aggressively enforce measures across the globe to clamp down on such practices, a top U.S. official said on Wednesday.
Concern over shippers falling foul of U.S. sanctions sent oil freight costs to record highs around the world, adding millions of dollars to the cost of every voyage.David Peyman, deputy assistant secretary of state for counter threat finance and sanctions, said ships were"the key artery to evade sanctions"."If behavior doesn't change, notwithstanding our very frank conversations and clear messages, then we do look toward fully and aggressively and consistently enforcing U.S.
"It’s costly to invest in due diligence and I know business leaders don’t see value added," said Peyman, who leads the U.S. Office of Economic Sanctions Policy and Implementation. Peyman said he was"not going to be able to signal what we are going to do after the expiration of the license, other than to say that we are engaged in discussions with COSCO".