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2008 November 27   05:38

Federation Council approves RF accession to International Convention on Civil Liability for Bunker Oil Pollution Damage

The Federation Council of the RF has approved Russia’s accession to International Convention on Civil Liability for Bunker Oil Pollution Damage, 2001, the Federation’s website states. The law was approved by State Duma on November 21, 2008.

The Convention was adopted at a Diplomatic Conference held by IMO in London. It 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. It 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. on March 23 2001

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.

RF accession to the Convention does not require establishment of any new federal executive authorities or amendment of the existing financing procedure. It does not entail any additional expenses requiring amendment of the federal budget.

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