Ever wondered how to navigate the complex world of sanctions, and what it means for you as a yacht owner or yachting professional? If so, this episode of The Yacht Law Podcast is an eye-opening education. Hosts Diane M. Byrne and Michael Moore shed light on the implications of US, EU, and UK prohibitions against vessels and individuals, and what these sanctions in yachting ultimately mean. Moore’s deep knowledge of maritime law highlights the importance of regularly checking sanctions lists. He further highlights how to handle situations involving sanctioned individuals or superyachts.
Dive deeper into legalities, like the crucial role of the Fifth Amendment and its relation to due process. Delve into the challenges when dealing with an ultimate beneficial owner or a yacht on a sanctions list. More so, learn how to avoid potential legal consequences. Learn from real-life examples of navigating sanctions, too, such as those against Bernie Madoff, Equanimity, and Alfa Nero.
Additionally, you’ll learn:
- why navigating sanctions in yachting requires checking more than one sanctions list
- whether the USA, EU, and UK enforce each other’s list
- what happens when a foreign-flagged yacht owned by a European, both under sanctions from the EU or EUK, enters the United States, which has not sanctioned either
- why you need a special license if you have legitimate reasons to do business with a sanctioned individual or yacht.
This informative and engaging conversation will leave you better prepared to navigate the murky waters of sanctions and their implications in your world.
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