Tag: Sanctions

On 23 June 2023 the EU Council adopted the 11th package of economic sanctions against Russia to prevent their circumvention and further erode Russia’s revenues, which includes a port ban to tackle illegal transfers.

On the eleventh sanction package against Russia, the EU introduced a prohibition to access EU ports for vessels which are transporting Russian oil and have conducted ship–to-ship transfers or turned off their automatic identification system (AIS).

The circumvention of sanctions imposed on Russia, one of the world's top oil producers, has resulted in the environmental and safety hazard that is the "shadow fleet" of ageing tankers that continue the transfers in secret.

Since Myanmar's military coup in February 2021, the EU, UK, and US have placed a series of sanctions and export restrictions. The Steamship Mutual P&I Club informs about measures that may be of interest to shipowners/operators.

According to International Energy Agency (IEA), it is unlikely moves by the G7 nations to fight the evasion of price caps on Russian energy will change the supply situation for crude oil and oil products.

According to Reuters, European Union states hold a first discussion on 10th May, on proposed new sanctions over Russia’s war in Ukraine that would target Chinese and Iranian firms and allow export curbs on third countries for busting existing trade restrictions.

Signal Ocean today released an evaluation on the evolution of oil flows amid the enforcement of EU sanctions on Russian oil.

The Government of the Hong Kong Special Administrative Region (HKSAR) gazetted the United Nations Sanctions (Haiti) Regulation on 3 March 2023.

On June 3, 2022, the EU adopted a sixth package of sanctions that banned imports of seaborne crude oil from Russia into the EU (effective December 5, 2022) and banned seaborne imports of petroleum products from Russia, including diesel fuel (effective February 5, 2023).

On 25 February 2023 the EU adopted the 10 package of Russian sanctions. 24 February marks one year since Russia's full-scale invasion of Ukraine and 9 years since the beginning of Russia's illegal invasion and occupation of Ukrainian territory.