Next wave of shipping sanctions levelled at Russia

With the leaders of G7 nations meeting in Italy this week, a further coordinated series of sanctions against Russia have been making headlines in recent days with plenty linked to shipping.

Nearly 850 days since the start of Russia’s full-scale invasion of Ukraine, the UK yesterday announced 50 new sanctions designations. New targets include ships in Putin’s shadow fleet, Russian LNG companies, a shipmanager and Ingosstrakh, a top name in Russian insurance. 

Earlier in the week, the Office of Foreign Assets Control in the US announced its own new wave of Russia sanctions which also took aim at entities involved in Russia’s liquified natural gas industry.

Finally, it has been reported this week that the European Union is considering following the lead of the US in imposing new sanctions against Russia’s largest shipowner, Sovcomflot.