The U.S. Treasury Department Office of Foreign Assets Control ("OFAC") updated an Advisory warning parties involved in petroleum shipments to Syria of the risks of U.S. sanctions, including the threat of "secondary sanctions" against non-U.S. individuals and entities engaged in such activity. OFAC provides a description of deceptive shipping practices, including of efforts to change certain vessel names to obfuscate the illicit activities of the owners. OFAC also recommends that, "[a]s a standard practice, those involved in the maritime petroleum shipping community . . . are advised to conduct Know Your Customer [] due diligence." In the Advisory, OFAC identifies new vessels involved in Syria-related oil shipments.
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