US financial crime authorities have warned that Iranian entities are using front companies in Hong Kong and the UAE to ship sanctioned oil to China and launder the proceeds through the international financial system. In an advisory issued on June 6, the Financial Crimes Enforcement Network (FinCEN) says Iran exports around 1.6 million barrels of ...| Global Trade Review (GTR)
The European Commission has finalised reforms requiring all vessels to provide proof of insurance when passing through EU waters, part of a crackdown on a growing fleet of high-risk, ageing tankers. The so-called shadow fleet, a vast number of vessels used to ship fuel without the involvement of western banks and insurers, has grown considerably…| Global Trade Review (GTR)