SINGAPORE, 18 Feb 2020: As a global business operating across the oil and gas value chain, the Mercantile & Maritime Group operates in full compliance with all international trade laws and maritime regulations.
On February 18 the US’ Treasury’s Office of Foreign Assets Controls announced further sanctions in relation to oil sales from Venezuela.
Following an extensive review of our live arrangements, we can confirm that any activities impacted by the recent U.S sanctions will be terminated in accordance with the specified timeline.
We will continue to monitor developments to ensure we remain compliant going forward.
Mercantile & Maritime has long-established compliance procedures and internal controls in place to ensure we are compliant with the applicable rules and regulations in the territories in which it operates.
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