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
US disables two Iranian tankers violating blockade; Iran seizes shadow fleet tanker
The US has fired at and disabled two Iranian tankers for violating the blockade after disabling another Iran-flagged tanker earlier this week. Meanwhile, Iranian media reported that Iran seized a US-sanctioned panamax tanker laden with Iranian oil
Sweden turns up heat on shadow fleet
‘We protect our waters,’ says Swedish Prime Minister Ulf Kristersson after multiple boardings in recent months
China’s blocking order leaves shipping, oil and banking compliance teams navigating ‘Odyssean dilemma’
With the Middle East crisis tightening the sanctions noose on Iran’s oil buyers, China fires back by activating its own blocking rules — forcing a compliance rethink, although enforcement beyond its borders remains doubtful
US targets banks in a bid to quench China’s teapot refiner thirst for Iranian oil
The Hormuz crisis has dampened Iranian crude exports globally as total exports approach the lowest point seen in the past year. Shandong, home to Chinese teapot refineries, continues to dominate as Iran’s top export destination by province
Shadow fleet VLCC finds legitimate path to compliant market in Gulf trade
A 26-year-old VLCC previously engaged in Venezuela operations has become the latest shadow fleet tanker to revert to mainstream trades as the Hormuz crisis fuels demand for ‘risk tolerant’ tankers
Hormuz transits collapsed last week after brief reopening
Traffic through the Strait of Hormuz more than halved last week after Iran reinstated restrictions and tensions escalated into vessel attacks and seizures, leaving only a trickle of non‑Iranian ships willing to transit
Hengli Petrochemical’s shares plunge on US sanctions despite denial of trade with Iran
The US sanction of Hengli has deepened shipping’s compliance dilemma, as complicated geopolitical tensions continue to fracture global trade
EU confirms 20th sanctions package — without maritime services ban
A ban on maritime services had been confirmed by the European Commission, but was not endorsed by all member states
Shadow fleet tankers disrupted, but not completely deterred by US blockade on Iran
A number of Iran-linked shadow fleet tankers are diverting or pausing voyages, but at least 10 traceable via their Automatic Identification System are seen ballasting towards the Middle East
Between rules and orders: shipping’s compliance dilemma in a fractured world
Shipping’s compliance landscape is fracturing under geopolitical pressure, with waivers, blockades and seizures creating a minefield where even well-intentioned decisions risk regulatory scrutiny
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