Maritime Authority Delists Two Companies on U.S. Sanction List

The Commissioner of the Liberia Maritime Authority Lenn Eugene Nagbe says in keeping with standard practice, the Liberian Registry has since effectuated the delisting of two entities that were recently designated for penalties by the U.S. Treasury Department in keeping with the Registry’s stringent, world-class sanction compliance mechanism.

The Oman Pride, a Liberian flagged crude oil tanker, and the Liberian-registered company, Bravery Maritime Corporation, were amongst international businesses and individuals targeted by the department’s Office of Foreign Assets Control (OFAC) on Friday, August 13, 2021 for sanctions. The affected institutions are alleged to be part of an international oil smuggling network in the Middle East.

In an interview with FrontPageAfrica, the Maritime boss said OFAC sanctions is not a blemish on the impeccable record of the Registry, but the swift de-listing of the affected entities is “testimony to the effectiveness of our sanction compliance regime which is second to none in the world”

He said Liberia remains committed to ensuring it maintains its high record of compliance with international protocols and laws on Maritime governance. It, therefore, urges all ships flying the Liberia flag and institutions on its Registry to conduct themselves in line with established industry rules and procedures.

“We run the second-largest, fastest-growing and best registry in the world, there will be some bad apples in the program like in other competing registries but what is important is that we are recognized by the various sanction regimes as having the best preventative and remedial system in place,” Commissioner Nagbe said.

He added that the Liberian program maintains an excellent relationship with its U.S. counterparts and they both have cooperated in several areas, including counterterrorism. 

The Liberian Registry has a world-class compliance system that is devoted to preventing and addressing any and all potential violations of the United Nations and United States sanctions regimes. The compliance program is a reference point for U.S. authorities and global security agencies.

Source: FrontPage Africa