Lloyd’s Register announced its decision to disengage from the provision of all services to Russian owned, controlled or managed assets or companies.
LR said that it has taken this decision after “closely monitoring the very concerning situation in Ukraine over the past two weeks,” and based on the latest legislative requirements taking effect in the United Kingdom, the European Union and United States.
LR will be communicating directly with all affected parties
Maritime professional services organisation now joins IBIA and DNV who also announced similar decisions. More specifically, as a result of the invasion of Ukraine, DNV will not enter into new business with Russian companies nor into new business activities in Russia.
In addition, IBIA decided to suspend all services to Russian members of the Association until further notice. IBIA noted the widespread international condemnation of Russia’s hostile actions in Ukraine, as well as the imposition of significant sanctions against Russia and Russian interests by a large number of countries.
Taking the above into consideration, it urged all members to be vigilant in all their business transactions to ensure they are not in breach of any applicable sanctions.
