The latest Club news and resources on how sanctions impact Members.
UK Sanctions: An Update
The UK has implemented a number of sanctions in response to Russia’s invasion of Ukraine.
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.
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.
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.
Russia-Ukraine Crisis: External Resources
The Club have collated external resources and information relevant to the current crisis in Ukraine.
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
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.
This Circular provides information on the recent designation by the Government of the United States on Venezuela’s Maritime Authority (Instituto Nacional de los Espacios Acuaticos – “INEA”).
This Circular concerns efforts by the United States to enhance the sanction provisions targeting the construction of the NS2 and TurkStream pipeline projects and those who provide vessels and services in connection with either project.