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
The Club has received a number of enquiries from Members regarding repatriation of Ukrainian seafarers in view of the current situation in Ukraine
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.
We are constantly monitoring the current situation and with the help of the Club's local correspondents we are providing updates on the current operational status of ports
Circular 02/22: Special War Risks P&I Excess Cover, and Biocchem Cover, and US Terrorism Risk Insurance Act of 2002, as Amended by the Terrorism Risk Insurance Program Reauthorization Act of 2019
At their meeting on 7th February 2022, the Directors reviewed the basis on which special war risks P&I cover could be made available to Members in accordance with the proviso to Rule 5E.
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