• Home
  • News
  • EU adopts its latest package of sanctions against Russia
  • 2022 October 6 17:12

    EU adopts its latest package of sanctions against Russia

    The Council of the EU and the European Council decided today to impose a new package of economic and individual sanctions against Russia, according to the Council of the EU's release.

    The agreed package includes a series of biting measures intended to reinforce pressure on the Russian government and economy, weaken Russia's military capabilities.

    The package agreed today introduces into the EU legislation the basis to put in place a price cap related to the maritime transport of Russian oil for third countries and further restrictions on the maritime transport of crude oil and petroleum products to third countries.

    Concretely, the combination of these measures works as follows. It will be prohibited to provide maritime transport and to provide technical assistance, brokering services or financing or financial assistance, related to the maritime transport to third countries of crude oil (as of December 2022) or petroleum products (as of February 2023) which originate in or are exported from Russia.

    The price cap derogation would allow the provision of the transport and these services if the oil or petroleum products are purchased at or below a pre-established price cap. The new prohibition for EU vessels to provide maritime transport for such products to third countries will apply as of the date in which the Council will unanimously decide to introduce the price cap.

    As concerns trade, the EU is extending the import ban on steel products that either originate in Russia or are exported from Russia.

    Further import restrictions are also imposed on wood pulp and paper, cigarettes, plastics and cosmetics as well as elements used in the jewellery industry such as stones and precious metals. The sale, supply transfer or export of additional goods used in the aviation sector will also be restricted.

    The package agreed today also comprises:

    the sanctioning of individuals and entities that have played a role in the organisation of referenda, representatives of the defence sector. The Council also decided to broaden the listing criteria on which specific designations can be based, in order to include the possibility to target those who facilitate the circumvention of EU sanctions

    the extension of the list of restricted items which may contribute to Russia's military and technological enhancement or the development of its defence and security sector.

    a prohibition to sell, supply, transfer or export civilian firearms and their essential components and ammunition, military vehicles and equipment, paramilitary equipment, and spare parts

    the insertion in the list of state-owned entities that are subject to the transaction ban of the Russian Maritime Shipping Register, a 100% State-owned entity which performs activities related to the classification and inspection, including in the field of security, of Russian and non-Russian ships and crafts

    a full ban of the provision of crypto-asset wallet, account or custody services to Russian persons and residents, regardless of the total value of those crypto-assets

    the prohibition to provide architectural and engineering services as well as IT consultancy services and legal advisory services to Russia




2022 November 27

15:19 BC Ferries reports record level of vehicle traffic for six month period ending Sept 30
13:54 Prysmian to further expand its cable-laying vessel fleet to support global power grid upgrade for the energy transition
12:42 Carnival Cruise Line's flagship makes first-ever Carribean call with visit to Grand Turk inaugural voyage
12:09 Four WTIVs equipped with SCHOTTEL propulsion systems for Ouyang Offshore in Shanghai
10:46 Global supply chains are becoming increasingly "green”

2022 November 26

15:16 Shanghai Port enters a new stage of green transformation
14:39 Moran Towing orders pair of tugs from Master Boat Builders
12:37 Helsinki Shipyard invites bids for sale of one uncompleted vessel
10:19 EST-Floattech signs contract with Rolls-Royce Power Systems for long term cooperation

2022 November 25

18:27 Valenciaport studyies the expansion of ro-ro and reefer traffic with northern Morocco
18:07 ABB to equip 10 COSCO Shipping’s boxships with shaft generators - Offshore Energy
17:55 Draft amendments into Rules for subsidizing of large ships construction published on ad hoc federal portal
17:27 China-U.S. joint venture unveils new fleet brand of cruise ships - Xinhua
17:00 Engine work completed for Port of Antwerp-Bruges methanol-fuelled tug retrofit - Ship & Bunker
16:59 FESCO set to open new shipping service from Alexandria port to Novorossiysk
16:35 Russia’s container market fell by 15.8%, year-on-year, to 4.5 million TEU
16:12 Jan De Nul successfully connects TenneT’s electricity network and signs contract for the acquisition of the offshore support vessel
15:48 MOL to build two ocean-going cruise ships
15:33 RUB 2 billion to be invested in new grain terminal within SEZ Lotos in Astrakhan Region
15:04 CODELCO and NYK Bulk Projects to jointly study decarbonized transportation of copper products
14:42 Stolthaven Terminals and Deloitte partner on a decarbonisation pilot
14:18 A.P. Moller - Maersk flags off a new dedicated weekly rail service from NCR to APM Terminals Pipavav
13:45 TES and EWE to build 500MW electrolyser at Wilhelmshaven
13:40 Proman Stena Bulk officially names new methanol-fuelled tanker Stena Pro Patria
12:31 Ningbo Containerized Freight Index decease significantly in November 2022
12:14 China ports container volume rises 4.0% in January - October 2022
11:46 Tariff for some services changed in the seaport of Ust-Luga
11:42 ZeroNorth’s new Vessel Optimisation service delivers immediate emissions reductions
11:13 Volumes continue to grow strongly on North America East Coast - Sea-Intelligence
10:35 China's Ningbo-Zhoushan Port launches sea-rail container transport for NEV exports - Xinhua
10:17 RF Government to provide RUB 3.88 billion for subsidizing of cargo shipping to/from Kaliningrad Region
09:39 Yantar shipyard to build 7MW rescue ship of Project MPSV06M

2022 November 24

18:03 MEPSEAS South-East Asian marine protection project concludes
17:58 Nimofast signed a partnership with Kanfer Shipping to sell and deliver LNG via small-scale LNG
17:23 Cadeler triples fleet after ordering second hybrid jack-up installation vessel
16:59 James Fisher's first LNG dual-fuel tanker enters service
16:11 PetroChina completes first STS bunkering of LNG-powered ship in Shenzhen - S&P Global
15:34 Green NortH2 Energy receives EUR 2.3 million in R&D funding from Business Finland for the development of green hydrogen and ammonia production
14:58 Keppel O&M delivers first of three jackup rigs novated by Borr Driling to ADNOC Drilling
14:03 Consortium unveils their transformational bid for a Celtic Freeport
13:42 Silversea Cruises cuts steel for second Nova-class ship
13:22 Port of New York and New Jersey container volume up to 792,548 TEUs in October 2022
13:17 MABUX: Bunker Weekly Outlook, Week 47, 2022
12:53 Furetank granted state and EU climate investment support for installing shore power connection on a tanker
12:35 Chinese ports' container volume rose 4% to 240 million TEUs in January-October
11:22 Russia will need 400 dry cargo ships and tankers for its transport independence - Rosmorrechflot
11:16 HPC Hamburg Port Consulting to advise on new Tobago cruise terminal
10:51 ABS publishes detailed requirements for composite repairs
10:34 SMTU opens R&E Centre Digital Technologies for the Design and Construction of Marine Facilities SMTU-ASCON
10:14 Gunvor secures USD 1.645 billion credit facility
10:06 Ferries carried 37100 passengers and 24200 cars on the Kerch Strait line as of Nov 24
09:03 Flex LNG announces extension of time charters for three ships with Cheniere

2022 November 23

18:36 Adani Ports and Special Economic Zone receives the top ranking in Moody’s Global ESG rating
18:07 The Role of methanol in shipping’s energy transition explored at first London Methanol Summit
17:59 Ocean freight volumes in container segment forecasted to drop by 2.5%
17:42 Meyer Werft and Silversea celebrate steel cutting of Silver Ray
17:33 General Meeting on December 19 to vote on Uniper stabilization and thus ensure Germany’s gas supply
17:28 Uralchem to invest RUB 50 billion in construction of ammonia port in Taman
17:20 The President of Mozambique Filipe Nyusi inaugurates Coral-Sul FLNG installation
17:06 Seapeak orders five LNG newbuilds against long-term charters