Britain has introduced new sanctions against Russian oil companies and Canadian-Pakistani billionaire Murtaza Lakhani, intensifying pressure on Moscow amid the Ukraine conflict. The measures target 24 individuals and entities, including major firms like Tatneft and Russneft, aiming to disrupt Russia’s global oil trade following earlier sanctions on Lukoil and Rosneft.
The European Union has intensified sanctions against Russia, adding 41 vessels linked to its shadow fleet, aimed at curbing funding for the war in Ukraine. This brings the total sanctioned vessels to nearly 600, reinforcing the EU’s commitment to uphold sanctions and support Ukraine’s sovereignty amid ongoing aggression.
The U.S. Treasury’s Office of Foreign Assets Control has imposed sanctions on 29 vessels and multiple firms aiding Iran’s clandestine oil transport. This move targets Egyptian businessman Hatem Elsaid Farid Ibrahim Sakr and reflects the U.S. commitment to curtail Iran’s financial capabilities supporting its military and nuclear endeavors.
Lukoil has agreed to sell its international assets to Gunvor amid recent U.S. sanctions, signifying a notable response from the Russian company due to Western restrictions linked to the Ukraine conflict. The deal focuses on Lukoil International GmbH and requires approval from the U.S. Treasury’s Office of Foreign Assets Control.
On Wednesday, the US Treasury implemented extensive sanctions against over 115 Iranian individuals and entities, marking a peak in its “maximum pressure” campaign. Targeting maritime interests tied to Mohammad Hossein Shamkhani, the sanctions aim to curtail Iran’s oil exports, significantly impacting the regime’s revenue and global trade networks.
The Department of Migrant Workers is holding Erica Crew Manning Services accountable after six Filipino seafarers were stranded for two months. Violations include the vessel’s unseaworthiness and delayed wages. The government has initiated sanctions and provided financial aid to the crew, emphasizing its commitment to protecting overseas workers.
Chevron-chartered tankers, originally meant to transport crude oil from Venezuela to the U.S., are now being offered for spot contracts elsewhere. PDVSA’s cancellation of loading permits has prompted Chevron to seek alternative solutions. Delays and uncertainties in returning cargoes have disrupted operations, highlighting the challenges faced by companies in the Venezuelan oil market.
Germany recently seized a dilapidated tanker suspected to be part of Russia’s clandestine fleet evading oil sanctions. The Panama-flagged vessel, Eventin, carrying 100,000 metric tons of oil worth 40 million euros, was intercepted en route from Russia to Egypt. The German finance ministry refrained from detailed comments due to tensions with Russia over Ukraine.
The European Union has expanded sanctions against Iran for supporting Russia in the Ukraine conflict. Added to the list are IRISL and Mohammad Reza Khiabani. Sanctions target ports transporting Iranian UAVs and missiles. Iran’s Ports and Maritime Organization denies accusations. EU also sanctions Russian shipping companies aiding Iran in supplying weapons.
Chinese heavy-lift ships Ocean 28 and Nan Feng Zhi Xing push through thickening ice on the Northern Sea Route to deliver a power plant to a Russian LNG project. Facing delays due to storms and deteriorating ice conditions, their journey highlights the risks and challenges of Arctic shipping, raising safety concerns.
Novatek, a Russian LNG producer, defied Western sanctions by sending the Everest Energy tanker through the Northern Sea Route. Despite lacking proper permits and sailing under a defunct flag, the vessel completed the journey to Asia. This risky move showcases Russia’s determination to market LNG in the face of sanctions and challenges in international shipping.
Palau suspends flags of Russian LNG tankers, halting operations due to AIS signal tampering. Investigation shows potential cargo losses and challenges for Novatek. Delays impact marketing efforts and finding buyers for sanctioned cargo from Arctic LNG 2 project. Complexity and restrictions in LNG shipping industry highlighted. Shadow fleet remains inactive in Russian waters.
The G7 countries, led by UK Prime Minister Kier Starmer, are ramping up pressure on Russian oil tankers, with 11 more vessels facing sanctions. Despite disruptions for targeted tankers, overall oil supply and freight costs remain stable. Moscow’s shadow fleet is limited, forcing potential reliance on Western-owned ships. Uncertainty looms over the future of the tanker market and global shipping industry.
A cargo ship from Russia previously held in Germany on suspicion of violating sanctions can now freely leave the port of Rostock, as confirmed by the Stralsund main customs office. The Atlantic Navigator II was carrying birch wood for the US, subject to EU sanctions but not US sanctions. Prosecutors revealed further details about the ship’s operations and detainment.
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.
