Warning over Iran trade
15 / 10 / 2009
THE British International Freight Association (BIFA), is urging its membership which includes most of the UK’s freight forwarding companies, to be aware that new sanctions being taken by the United States against Iran may make them subject to punitive action by the US Government should they be judged to have assisted US companies in trading with Iran.
New regulations in the USA mean that any American entity facilitating trade with Iran, in any form, could be targeted. We understand that this will bring non-US subcontractors into scope and can apply to worldwide movements not solely those to or from the USA.Companies, which fail to comply, will face the potential of asset-seizure and restrictions on access to US markets if they either arrange shipment or carry restricted cargoes to Iran.