Jan 12, 2011

Ransom payers seek blessing from Washington



PRESIDENT Obama’s order targeting Somali financial transactions has spurred many international shipowners to seek US pre-approval for ransom payments, Fairplay has learned.
On 13 April 2010, Obama issued an emergency directive to the Office of Foreign Assets Control, targeting certain Somali individuals and groups. The order’s mandate against “financial assistance” to targeted entities raised fears that Washington would issue sanctions against shipowners for paying ransoms.
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Source: Safety at Sea

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