The latest Club news and resources on how sanctions impact Members.
Circular 09/22: EU Sanctions - clarification published on the carriage of certain Russian cargoes including coal and fertilisers
On 10 August 2022, the European Union (EU) published updated FAQs clarifying the application of provisions relating to the carriage of certain cargoes from Russia, including coal and other solid fossil fuels as well as certain types of fertilizer.
Circular 07/22: Sanctions - The European Union’s 6th Sanctions Package - EU Regulation 833/2014– (the “Regulation”)
[AMENDED 22 JULY] On 21 July 2022 the European Union published a Maintenance and Alignment Package
UK Sanctions - New Trade Restrictions
On 21 June 2022, the UK government imposed further trade restrictions against Russia under The Russia (Sanctions) (EU Exit) (Amendment) (No
UK Sanctions - An Update
The UK has implemented a number of sanctions in response to Russia’s invasion of Ukraine. The applicable UK legislation is The Russia (Sanctions) (EU Exit) Regulations 2019, which has been amended by eight additional regulations (the “Amendments”).
On 8 April 2022 the EU adopted a fifth package of sanctions on Russia, comprising of several Regulations and Decisions
EU impose further sanctions on Russia
On 15 March 2022 the EU adopted a fourth package of sanctions in response to Russia's military aggression against Ukraine.
The European Union announced a significant expansion of sanctions against Russia in light the deteriorating situation in Ukraine on 25 February 2022
Russian banks banned from SWIFT
The EU, in consultation with the UK, US and Canada have requested SWIFT, the financial messaging system, to disconnect certain Russian banks from using its system, in response to Russia's unprovoked military aggression against Ukraine.
The shocking events that are unfolding daily in Ukraine are truly dreadful, and the consequences of sanctions and restrictions will have numerous implications across the globe.
The Law of Ukraine on Sanctions No. 1644-VII has been in force in Ukraine since 2014 and provides for a non-exhaustive list of 24 possible sanction types
Russia-Ukraine Crisis: External Resources
The Club have collated external resources and information relevant to the current crisis in Ukraine.
Since 2010, considerable sanctions' activity has been directed at shipping and its supporting industries reflecting the fact that 90% of world trade involves the carriage of goods by sea.