Reimposing secondary sanctions on Iran, Venezuela's use of petro cryptocurrency to skirt US sanctions and sanctions targeted at Russian businesses put shipping companies at risk, industry pundits say.
At a webinar by Capital Links Shipping, bank lawyers discussed the likelihood of shipping companies' exposure to US sanctions.
Reliance on US dollars for global shipping
Reimposed sanctions on the Islamic Republic have heightened focus on dollars flowing between US and Iran along the supply chain, be it for port fees, brokerage or bunker payments.
