Sovcomflot PJSC, a Russian state-owned oil tanker company, has condemned Western sanctions on ships carrying Russian oil. They argue that these sanctions increase environmental risks by forcing some vessels out of regular trade. The company asserts its commitment to high safety standards but criticizes restrictions for penalizing responsible shipowners and deteriorating maritime safety standards.
Three oil tankers previously sanctioned by Britain for transporting Russian oil are now flying the Barbados flag. The Barbados Maritime Ship Registry, based in London, oversees their operations, providing diplomatic immunity. Despite concerns about ties to the UK, the switch allows the vessels to comply with international regulations more efficiently. Questions arise over the tankers’ ownership as they continue operations under new flags.
The world’s largest shipping register has revoked Russia’s Ingosstrakh Insurance Co.’s authorization to issue crucial documents for ships entering ports. The Liberian registry, flying 16 percent of the world’s ships, cited Ingosstrakh’s blue card revocation. A 90-day grace period is granted to vessels with Ingosstrakh coverage. EU considers sanctions against the insurer.
The European Union is considering a 14th package of sanctions against Russia, including banning the handling of Russian LNG and using EU ports for shipments benefitting Russia’s war efforts. EU operators would face more accountability for sanctions violations, with measures targeting transportation, media outlets, and financial transactions with Russia. (Word count: 50)
A new round of US sanctions targets owners of LNG tankers at a South Korean shipyard intended for Novatek’s Arctic LNG project. Sanctions complicate shipping operations further. Elixon Shipping, Azoria Shipping, and Glorina Shipping, based in Cyprus, face sanctions. Novatek faces challenges securing transportation capacity for its Arctic LNG 2 plant.
The U.S. government is spending over $7 million annually to maintain a seized superyacht from a sanctioned Russian oligarch, urging a judge to auction it off. Fiji confiscated the $300 million, 348-foot yacht, challenging ownership claims from another Russian figure. Prosecutors argue for an auction while the dispute is unresolved, with potential proceeds going to Ukraine.
