OFAC de-Lists PB Tankers

OFAC de-Lists PB Tankers

Statement from PB Tankers 

Rome, July 4, 2019

 

In an announcement dated July 3, 2019, The US Department of Treasury, Office of Foreign Asset Control (OFAC) de-listed PB Tankers S.p.A. and its owned and managed ships (Gold Point, Ice Point, Indian Point, Iron Point, Silver Point and Alba Marina Floating Storage), removing them from their OFAC list in relation to Venezuela sanctions.

The US Department of State has also acknowledged all the concrete and meaningful actions of the Company.

As a result of the delisting, all property and interests in property, which had been blocked as a result of the designation, are unblocked, and all transactions involving the Company and its ships are no longer prohibited.

In one of the fastest delistings in recent OFAC history, PB Tankers’ history of compliance and its continued commitment to strong compliance policies and procedures, as well as the support of the Italian Institutions and the quality of the information provided by the Company in relation to its involvement with Venezuela, were cited for the resolution of the case.

PB Tankers wishes to thank the Italian Institutions and in particular the Italian Embassy in Washington for their unstinted support, together with their professional advisors, Hill Dickinson of London (Julian Clark and Siiri Duddington) and Blank Rome of Washington DC (Matthew J. Thomas), for helping the Company to resolve this unfortunate situation.

All PB Tankers’ fleet remain fully crewed and in Class and ready to resume trading. Three of the vessels are in Freeport, The Bahamas, one is in Rotterdam and one is off Istanbul.

“We are open for business and wish to thank our crews, our customers and business partners for their patience and understanding through this very difficult period” says the Company.

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