Cargo insurance sanctions
Take note of cargo insurance sanctions
Moving overseas can be extremely nerve-wracking. It’s not just about moving to an entirely different country; it also includes trusting someone to move all of your belongings safely. After choosing the perfect carrier for your ocean freight, the next step is purchasing insurance. However, a serious bump in the road can arise when shipping to certain countries from the US.
When shipping from the US to Iran, Sudan, Eritrea, North Korea, Somalia and for the time being Cuba, it is not possible to issue insurance for the shipment. Sanctions have been placed on those specific countries and that cannot be ignored under any circumstance.
The Office of Foreign Asset Control (OFAC) administers and enforces the rules for all shipments coming in or out of the country. It is definitely wise to double check if the destination country is amongst those that are sanctioned or embargoed from the US.
Here is a full list of countries where issuing insurance can, potentially, cause an issue. Note, that several of these countries are embargoed from the US. So, dealing with them is not an option.
- Central African Republic Crimea
- Sebastopol Cuba
- Democratic Republic of Congo
- Ivory Coast
- North Korea
- Republic of Guinea
- Republic of Guinea Bissau
- South Sudan
Here’s an example. When shipping to Iran via Turkey, attempting to handle up to Mersin and then moving to Iran from there is not covered by insurance. Doing so knowingly can be punishable by law.
In conclusion, it’s very important to be diligent and as knowledgeable as possible. Thoroughly research the destination port to ensure you are following all guidelines and not breaking any laws.
— iContainersUS (@icontainers_usa) October 12, 2016