Sanctions
Sanctions against Russia in response to the country’s invasion of Ukraine continue to mount, while the US administration is reportedly weighing options on both Iranian and Venezuelan sanctions to address the energy gap created by restrictions on Russian oil and gas imports. Lloyd’s List examines the impact of this sanctions and the pain of them on the shipping industry and wider implications for the maritime community including finance, insurance, law and government
Bareboat guarantees still enforceable despite Russia sanctions, Commercial Court rules
‘Hell or highwater’ clauses didn’t earn their nickname for nothing
Japan sanctions shadow fleet vessels for first time in escalation of Russia crackdown
Japan has sanctioned shadow fleet vessels for the first time, targeting 35 tankers linked to Russian oil exports and signalling a cautious but significant shift towards the vessel-focused sanctions model adopted by Europe and the UK
The Week in Charts: Russia absorbs shadow fleet tankers at record pace as EU seizures reshape sanctions battle | Conflict pushes Russia-Iran trade deeper into the Caspian
Lloyd’s List’s weekly showing of the data and figures behind our news, analysis and markets coverage
Russia absorbs shadow fleet tankers at record pace as EU seizures reshape sanctions battle
Russia has reflagged 86 shadow fleet vessels since July as European enforcement squeezes fraudulent registries, signalling a strategic shift towards bringing sanctions-resistant oil shipping under direct state control despite concerns about fleet quality and liability
US targets Russian shadow banking network tied to Iran sanctions evasion
US authorities have escalated efforts to disrupt sanctions evasion by targeting the A7 Network, a Russian-linked shadow banking system accused of facilitating Iranian oil trade, shadow fleet transactions and billions of dollars in illicit cross-border payments
UK sanctions target Russia’s emerging LNG shadow fleet as gas carriers added to blacklist
UK sanctions have expanded beyond oil tankers to target an emerging LNG shadow fleet, blacklisting eight vessels linked to Russian gas exports while preserving narrowly defined exemptions for Sakhalin-2 supplies to Japan and South Korea
Malaysia rejects responsibility for shadow fleet STS transfers beyond port limits
Malaysia’s transport minister has rejected claims that Kuala Lumpur is responsible for policing shadow fleet ship-to-ship transfers beyond its maritime jurisdiction, as data shows Russian tanker traffic through the Straits of Malacca and Singapore is rapidly replacing Iranian flows
Puntland forces free hijacked tanker Sibu 1 and arrest 47 pirates
Puntland security forces have freed the sanctioned tanker Sibu 1 and arrested 47 suspected pirates following a two-day operation, ending a five-week hijacking that underscored the continuing resurgence of Somali piracy across the Gulf of Aden and Somali Basin
Arctic crude traffic surges as sanctioned tankers head for China
Russia’s Arctic crude corridor has become a sanctioned-only lane and China is still taking the barrels
Russia accuses Nato of maritime sabotage as Black Sea shipping risks escalate
Russia has used an official IMO submission to accuse Nato states of orchestrating attacks on merchant shipping, linking maritime security, sanctions enforcement and commercial trade as insurers expand Black Sea war-risk requirements amid deteriorating conditions
Trump signs Russia sanctions law targeting oil buyers and shadow fleet
New US legislation gives Donald Trump the power to impose tariffs of up to 100% on big buyers of Russian energy and expands sanctions targeting Moscow’s shadow fleet, raising fresh risks for shipping, energy trade and maritime services
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