Lawyers for Fractal Marine DMCC, argued that the company, which was set up in early 2022, would be forced into liquidation unless the measures were lifted.
The U.S. Department of the Treasury claims that a vessel
owned by Vishnu Inc. has been involved in "illicit shipments" to China, in support of Iran-backed Houthis.
While two years may seem like ample time to prepare, the reality is that it takes careful planning and multiple steps to implement advanced track and trace technology.