Sanctions - Russia
Details of sanctions imposed against Russia are contained in Notices to Members Numbers 1, 2, 3 and 10 of 2014/15 and in News Items of 1 and 19 May, 24 June, 10 and 29 July, 8 and 12 August and 8 September 2014.
The sanctions were initially directed both at individuals and companies and other enterprises in the form of asset freezing and restrictions on travel. They were extended in July 2014 to include the prohibition of the import into the European Union of goods originating in Crimea or Sevastopol and of the provision directly or indirectly, of financing or financial assistance as well as insurance and reinsurance related to such imports. In August 2014 the sanctions were further extended to prohibit the supply of dual-use goods to Russian persons or for use in Russia if they are intended for military use as well as the supply without prior European Union authorisation of goods related to oil exploration and production activities in Russia. Technical assistance, brokerage or financial services related to goods and technology in the Common Military List are also prohibited.
Russia has issued its own embargo on the importation into the Russian Federation of beef, pork, fruit and vegetable produce, poultry, fish, cheese, milk and dairy products where they originate from the US, an EU state, Canada, Australia or Norway
The News Items referred to above also contain information about restrictions and sanctions imposed by the Ukrainian government in respect of vessels calling in the Crimea and the Ukraine and/or passing through or going to the Kerch Strait.In August 2017 the US enacted the Countering America’s Adversaries Through Sanctions Act, which included new sanctions against Russia. Some of these may potentially impact on shipping. The Club produced a News Item on the Act on 7 August 2017, which contained a link to a helpful Client Alert issued by Freehill Hogan & Mahar detailing the new provisions.
The information provided by the Club and in particular through its website is not and is not intended to be exhaustive. Every effort is made to ensure the accuracy of the information provided. However this cannot be guaranteed given that sanctions measures are subject to alteration by Governmental organisations at short notice. Further the information on this site is not, and should not be relied upon as, independent legal advice.
Members are strongly advised to undertake due diligence before fixing any business to or from a sanctioned country in order to ensure that neither the prospective cargo nor the parties to the planned venture are sanctioned. The Club is willing to assist Members where possible but they may nevertheless wish to take independent legal advice.