Russian vessels banned from accessing EU Ports
The European Commission (EC) has implemented its fifth round of sanctions against Russia... One of the six pillars of the latest round of sanctions sees all Russian vessels banned from accessing EU ports. Certain exemptions will cover essentials, such as agricultural and food products, humanitarian aid as well as energy.
Additionally, the EC has also implemented a ban on Russian and Belarusian transport operators. This aims to drastically limit the options for Russian industry to obtain key goods.
The EC sanctions also include an import ban on coal from Russia worth €4 billion ($4.3 billion) per year, a full transaction ban on four key Russian banks, further targeted export bans in areas the country is most vulnerable, and specific new import bans worth €5.5 billion ($5.9 billion).
Almost all of the world’s largest shipping lines have also suspended bookings to and from Russia and Ukraine.
A.P. Moller – Maersk (Maersk) has recently taken this one step further, by selling its stake in Russian terminal operator Global Ports Group.
Confirmed by Global Ports on 10 March, the Board of Directors was notified of APM Terminals B.V., Maersk’s terminal arm, of its intention to divest its 30.75 per cent stake in the operator.