THE IMPACT OF THE WAR IN UKRAINE ON SHIPPING
Published: 5 July 2022
The conflict in Ukraine has had a huge impact on shipping and global trade. Since Russia’s invasion in February 2022 a wide range of sanctions against Russian cargoes and entities have been announced by the European Union, the United States and other countries, with further sanctions expected. The sanctions impact on a wide range of Russian goods including oil, petroleum products, steel and coal, and restrict the ability to transport and insure ships carrying such goods. This is a rapidly changing situation but Britannia is closely following developments and is able to assist Members with guidance on sanctions and related enquiries. While not a substitute for Members’ own due diligence, the Club is able to access expert advice which can assist Members in navigating this complex area. Please contact the Club should you require guidance. Updates on sanctions impacting world trade and our Members can also be found on the Britannia website.
- EU Imports and Purchase of Goods FAQ as of 14 June 2022 (the Import FAQ)
- EU Oil imports as of 22 June 2022 (the Oil FAQ)
- EU Insurance and Reinsurance as of 22 June 2022 (the Insurance FAQ)
- EU Russia Sanctions Execution of Prior Contracts and Claims