Policy Statement

International economic and trade sanctions laws and regulations have become more complex, numerous and widespread, significantly impacting the shipping industry.

To avoid and mitigate risks associated with potential trade and sanctions violations, and to ensure our business and trade is compliant, VS Tankers has established a robust compliance program. aiming to minimize exposure to serious civil or criminal penalties resulting from non-compliance.

VS Tankers will not provide services for the sale, supply, or transfer of goods prohibited under any sanctions regimes. We will not engage in business relationships with individuals, entities, or governments targeted or designated by sanctions regulations and we avoid any business that violates export laws.

Key components of our compliance program:

  • Automated Sanction Screening: We use reputable well-known sanctions and due diligence software screening programs. This system ensures that all business transactions, STS operations and counterparties are screened to prevent dealings with individuals or entities listed on Specially Designated Nationals (SDN) lists.
  • Due Diligence: VS Tankers conducts detailed due diligence and KYC screening on its suppliers and customers, to ensure its business counterparts adhere to all relevant sanctions regulations.
  • Counterparty Engagement: VS Tankers ensures its business counterparts that includes oil majors, US listed companies and state owned blue chip companies, are aware of our policy and conduct business with us in compliance with applicable trade and economic sanctions regulations.

Key principles of our policy:

  • Commitment to Compliance: VS Tankers recognizes its sanctions compliance obligations to ensure it does not engage in activities or transactions in violation of sanctions regulations imposed by the U.S.A, U.N, E.U or U.K or other local authorities.
  • Organization Responsibility: VS Tankers recognizes that all individuals connected to it, including directors, managers, employees, agents, and representatives, are responsible for ensuring compliance with economic sanctions and related regulations.
  • Risks of Non-Compliance: VS Tankers recognizes the significant risks associated with non-compliance, which includes state authority enforcement actions, delays or diversions of vessels, asset freezes, criminal penalties, fines, and reputational harm with our stakeholders.
  • Continuous Monitoring and Updates: Given that economic and trade sanctions are subject to frequent changes, VS Tankers commits to ensuring it remains up to date with its compliance obligations and screening measures regularly.

VS Tankers is committed to maintaining its reputation as a responsible carrier and operator. For more information, please reach out to: legal@vstankers.com or info@vstankers.com