Fractal Marine DMCC Responds to UK Sanctions and Reaffirms Commitment to Compliance and Transparency

News provided by

Feb 23, 2024, 15:38 ET

DUBAI, UAE, Feb. 23, 2024 /PRNewswire/ -- Fractal Marine DMCC, a leading entity in the global shipping and trading sector, expresses its profound disappointment following its recent inclusion on the sanctions list by the UK's Foreign, Commonwealth & Development Office. Fractal Marine is founded on the core principles of compliance, transparency, and the fostering of robust relationships within the international trading community, including active communication and alignment with the objectives of the price cap coalition.

Fractal Marine has initiated a formal challenge against the sanctions in response to these developments. We are in active dialogue with the relevant UK authorities to address and resolve the concerns raised. The company is committed to demonstrating its adherence to international standards and its unwavering dedication to lawful and ethical business practices.

A Commitment to Global Collaboration and Compliance
Fractal Marine recognizes the critical importance of collaboration and partnership in achieving shared objectives across borders. The company is steadfast in its commitment to working closely with regulators, including those in the United States and the European Union, to support and advance policy objectives while strictly adhering to established trade mechanisms and regulations.

Understanding the significance of aligning our operations with the priorities of global authorities, Fractal Marine is dedicated to maintaining the highest standards of integrity, compliance, and sustainability. Our engagement with the price cap coalition reflects our proactive approach to ensuring that our business practices contribute positively to the stability and growth of international commerce and energy security.

Driving Mutual Success Through Responsible Practices
Fractal Marine is resolute in its aim to be a positive force in the industry, fostering strong relationships and actively participating in initiatives that promote responsible shipping and trading practices. Our commitment to being a reliable and trustworthy partner is unwavering as we continue to drive mutual success while adhering to the regulatory frameworks and policy objectives set forth by the US, EU, and other international bodies.

As we move forward, Fractal Marine is focused on challenging the UK designations and clearing any misunderstandings regarding our operations and compliance record. We remain dedicated to transparency, open communication, and the pursuit of excellence in all aspects of our business.

About Fractal Marine DMCC
Fractal Marine DMCC is a leading global shipping and trading entity headquartered in Dubai, UAE. Founded on the principles of compliance, transparency, and integrity, Fractal Marine is committed to advancing the policy objectives of international regulators and contributing to the growth and stability of global commerce and energy security.

SOURCE Fractal