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.
Iranian oil keeps flowing ahead of expected return to ‘maximum pressure’
Despite a substantial tightening of sanctions this year, Iran’s oil exports are headed to their highest levels since prohibitions were reimposed by the Trump administration in 2019
Dark fleet VLCC Ceres I sanctioned as US continues to target Iran’s ‘shadow fleet’
The US Office of Foreign Assets Control announced sanctions on Tuesday against 35 entities and ships for shipping Iranian oil, including the VLCC Ceres I, which attempted to flee the scene after a collision with Hafnia-owned Hafnia Nile
Russian tanker struck by suspected naval drone trades again
The vessel is not on its usual route, instead sailing the Don river and signalling Astrakhan as its destination
Nearly half of Russia fuel oil assessed above G7 price cap shipped on Western tonnage
Under the cap, shipowners provide attestations to regulators for each voyage showing their cargo was lower than the cap. As ‘tier 3’ providers, shipowners have no direct access to pricing information
The Daily View: It’s good to talk
Your latest edition of Lloyd’s List’s Daily View — the essential briefing on the stories shaping shipping
San Marino flag removes two suspect marine insurers from P&I club approved list
Increased scrutiny of fixed-premium marine insurance P&I providers operating outside the International Group is intensifying amid concerns many are providing nothing more than pieces of paper to secure registration
Panama starts cancellation of six UK-sanctioned ships
Panama Maritime Authority has started cancelling six Panamanian vessels that the UK sanctioned on November 25
A fifth of dark fleet tankers now under Western sanctions
Falsely flagged tankers embracing fraudulent registries and deceptive shipping practices have fewer trading opportunities and most are relegated to floating storage for Iranian oil
Barbados reconsiders position on sanctioned Russian ship registrations
UK-Barbados diplomatic discussions result in moratorium on new Russia-affiliated ships joining the rapidly growing Barbados flag, while a decision not to de-flag existing sanctioned vessels is being reviewed
Russia sanctions won’t disappear overnight
Western shipowners and underwriters may have to kiss goodbye to a once-lucrative revenue stream for the medium to long term
The Daily View: Aligning for action
Your latest edition of Lloyd’s List’s Daily View — the essential briefing on the stories shaping shipping
EU sanctions set to target ‘high risk’ dark fleet and Ukraine grain theft
Latest round of EU sanctions includes a list of nearly 50 vessels considered to be either engaged in high risk trades of Russian oil or involved in suspicious activity, including theft of Ukrainian grain from occupied territories
You must sign in to use this functionality
Authentication.SignIn.HeadSignInHeader
Email Article
All set! This article has been sent to my@email.address.
All fields are required. For multiple recipients, separate email addresses with a semicolon.
Please Note: Only individuals with an active subscription will be able to access the full article. All other readers will be directed to the abstract and would need to subscribe.