Insights

On 6th October, 2022 the EU adopted an eighth package of sanctions against Russia. The relevant legislation can be found here.  In particular, Council Regulation (EU) 2022/1904 (“the Regulation”) amending Regulation (EU) No 833/2014, includes a number of additional restrictive measures.

Although there has been a welter of material generated in relation to the effects of Covid on a variety of shipping contracts, very little if anything has been said about its effects on the sale and purchase of second hand ships. That is surprising given the obvious difficulties which the pandemic created and continues to create in respect of the delivery of ships at the contractual place of delivery or within the contractual delivery range. It is also notable that no maritime body has attempted to draft a standard clause for incorporation into sale contracts. 

The UK Defence Club has announced that it is appointing Paul Herring to the newly created position of Legal Director as of 20th September, 2022.  

As advised in our previous update, on 10th August, 2022, the EU published updated FAQs (the “August FAQs”) clarifying the application of provisions (more particularly Article 3i and 3j of Council Regulation 2022/576 (“the Regulation”)) relating to the carriage of certain cargoes from Russia, including coal and other solid fossil fuels and fertiliser.  

The Russia (Sanctions)(EU Exit)(Amendment)(No.14) Regulations 2022 (“the Regulations”) came into force on 21st July, 2022, introducing further amendments to The Russia (Sanctions)(Exit) Regulations 2019. The purpose of this update is to provide a summary of some of the restrictions introduced by the Regulations that are most relevant to Members.