State Duma of the Russian Federation has approved RF accession to International Convention on Civil Liability for Bunker Oil Pollution Damage, 2001, information agency REGNUM reports. The Convention regulates liability for bunker oil pollution damage. It applies to damage caused on the territory, including the territorial sea, and in exclusive economic zones of States Parties.
The Convention was adopted at a Diplomatic Conference held by IMO in London on March 23 2001.
The Document is to be a basis to ensure that adequate, prompt, and effective compensation is available to persons who suffer damage caused by spills of bunker oil on the territory of Russia, including the territorial sea, and in exclusive economic zones, the document’s explanatory note reads according to RIA Novosti.
The Convention requires ships over 1,000 gross tonnage to maintain insurance or other financial security to cover the liability of the registered owner for pollution damage.
This Convention shall enter into force one year following the date on which 18 States, including five States each with ships whose combined gross tonnage is not less than 1 million, have either signed it without reservation as to ratification, acceptance or approval or have deposited instruments of ratification, acceptance, approval or accession with the Secretary-General.
As of December 31, 2007 the document is ratified or acceded to by 18 states including Great Britain, Germany, Greece, Spain, Cyprus and Singapore.