Star Tankers, Inc. v Citgo Petroleum Corporation (The “DS Promoter”) – SMA No. 4399, 7 Aug 2020

OWNER/CHARTERER - DEMURRAGE - U.S. SANCTIONS AGAINST VENEZUELA - PARTY RESPONSIBLE FOR OFAC LICENSE - OWNER AWARD Owner submitted four undisputed invoices to the charterer, regarding a voyage from the U.S. to Venezuela. The Charterer refused to attempt payment of the invoices, contending that an OFAC License may be needed in order to allow the transfer of funds due to sanctions against Venezuela. Arbitrators were asked to determine if an OFAC License was needed, and if so, which party was responsible for acquiring the Licence.
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