Sanctions against Russia in response to the country’s invasion of Ukraine continue to mount, while the US administration is reportedly weighing options on both Iranian and Venezuelan sanctions to address the energy gap created by restrictions on Russian oil and gas imports. Lloyd’s List examines the impact of this sanctions and the pain of them on the shipping industry and wider implications for the maritime community including finance, insurance, law and government.
Sanctions on Russia have ‘weaponised’ flags, says registry chief
Pacific Island flag says there is a line between ‘legal and ethical’ as Western governments step up pressure on open registries as tankers circumvent sanctions
Lawyer says ‘racist’ DoJ targets Greek shipowners for sanctions violations
UANI says best way for Greek shippers to avoid the legal and reputational consequences of smuggling Iranian oil is to stop
Sanctioned Russian ship circumvents Bangladesh port denial with STS transfer
Russian state-owned general cargoship was initially blocked from entering Bangladesh’s ports because of US sanctions
Sanctioned tanker in collision with Dynacom panamax off Venezuela
A US-sanctioned long range one tanker has been involved in collision with Dynacom’s panamax crude oil tanker Kerala. The latter vessel was waiting to load at the Bajo Grande terminal in Venezuela
US-sanctioned ships don’t lose flag for long
Majority of ships sanctioned in the past year remain flagged, even when excluding vessels registered in Russia
Over 100 falsely flagged ships are trading in plain sight
The problem of falsely flagged ships linked to fraudulent registries is not new, but it is growing and governments have struggled to tackle the risk of ships operating entirely outside of international scrutiny
Russia’s bulk exports to Europe drop 60%
Biggest percentage drop for bulk carriers arriving in Europe after leaving Russia was seen in Sweden, Portugal and Denmark, with noticeable drops in the Netherlands, Germany, France and Spain, data shows
Sanctions take toll on Russian oil exports and revenue, says IEA
Russian oil exports fell last month because of the EU ban on refined products
No evidence of price cap violations, says US official
Price cap on Russian energy exports said to be fulfilling its dual goals of hurting Moscow’s revenues while keeping global energy markets stable, according to US assistant treasury secretary
Türkiye ramps up Russian oil imports post EU ban
Turkish buyers have been taking advantage of discounted Russian oil prices by increasing imports to record high levels, as the EU embargo on crude and refined products slashed demand
Russia-linked dredger denied entry to Lithuania over sanctions
Vessels registered under the flag of Russia are prohibited from entering ports in the European Union
The week in charts: Dark fleet moving sanctioned oil doubles | Cruiseship sector advancing decarbonisation strategy | Bulk exports from Russia remain elevated
Rates and volumes have fallen back to earth a year on from the peak of the container cargo surge, Iran’s oil exports remain elevated and recycling sales dominated by dry cargo and gas sectors
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