Chinese-owned very large crude carrier changed name to evade oil sanctions.

landscape sunset twilight park

Photo by Zukiman Mohamad on Pexels.com

According to Reuters, a Malaysia-bound boat named the Pacific Bravo carrying a potential $118 million USD of crude oil disappeared and reappeared under a new name, the Latin Venture. The newly named Latin Venture has the same unique identification number as the Pacific Bravo: IMO9206035. As the unique identification number stays with the ship, the new name suggests someone was trying to avoid Iran oil sanctions. This prompoted the US government to warn parts in Asia to not allow the ship to dock. The shipment of Iranian crude oil violates economic sanctions in place against doing business with Iran.

The Trump administration reimposed sanctions on Iran in November and withdrawing from the 2015 Iran deal aimed at limited Iran’s nuclear program. And in an effort to reduce Iran’s oil sales, this past May the US ended sanction waivers to some importers of Iranian oil.

If you want to be sure your exports are in compliance with the current Iranian sanctions, contact experienced trade attorney David Hsu at 832-896-6288 or by email at dh@gjatradelaw.com, attorney.dave@yahoo.com.