👉 On 8 March 22, Russia indicated that all corporate deals with companies and individuals from “un+ friendly countries” will now have to be approved by a government commission.
👉 Announcement from Russia is assessed to be deliberately vague so as to create the conditions of commercial uncertainty and allow for a degree of flexibility and possible reprisal action in the face of further unfavourable sanctions by listed countries towards Russia.
👉 Whilst it is unclear whether the term “corporate deal” refers to the specific acts of vessels from these countries calling at Russian ports, it is clear that under the recent announcement there is a potential for Russia to use the ambit of ‘procedural/approval issues’ as a pre+ text for the effective detention or seizure of vessels at Russian ports should Russia deem this to be advantageous.
Click below to access our full analysis on what this means for commercial shipping.
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Grasping the global geo-political situation and understanding it within the context of individual port operations is a huge ask especially if you’re also responsible for other areas of your company’s operations.
If you need to move crews beyond the port boundary in multiple countries, will you have the time to conduct due diligence on the states involved?