Turkey's Kuzey Star Shipyard recently confirmed that it has been officially delisted from the US Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctions list.
Kuzey Star said that, with this decision, all OFAC-related restrictions imposed on it have been lifted, restoring its full access to international financial systems as well as its operational capabilities.
"We welcome this decision as a long-overdue correction and reiterate our firm position that its original designation was unjustified," Kuzey Star said in a press release following the delisting.
The company added that, throughout the process, it has fully cooperated with relevant authorities, "and has remained committed to transparency, compliance, and lawful business practices."
Kuzey Star said that is now focused on, "rebuilding trust with partners, clients, and the international community," by being mindful of compliance, enhancing key relationships, and continuing to deliver services across all areas of its operations.
Kuzey Star had been added to OFAC's Specially Designated Nationals and Blocked Persons List in January of this year for having built a floating dock for Russian shipping company Atomflot in violation of US trade sanctions against Moscow.
Source: Bair Maritime
