Financing and insurance of NITC or its vessels or voyages will present challenges, u.S. financial institutions will not be able to play a role and initially few European financial institutions may be willing to insure and finance these transactions initially, especially if they have had sanctions compliance issues in the past.

Matthew Oresman

Categorized in : Energy

This is the first time that the EU has done something so public and so aggressive. I imagine it was also coordinated in some manner with the U.S. given that NATO member forces have been involved, this is likely to have been meant as a signal to Syria and Iran - as well as the U.S. - that Europe takes sanctions enforcement seriously and that the EU can also respond to Iranian brinkmanship related to ongoing nuclear negotiations.

Matthew Oresman