Ukraine Issues

Unfortunately and sadly, armed conflict has broken out in Ukraine. The situation is very fluid and fast moving but it will inevitably have a significant impact on shipping and trade, giving rise to contractual issues under charterparties and other commercial agreements.

We will publish updates and general guidance to assist our Members in relation to the developing situation and the issues arising.  However, it is recommended that Members contact the Club for specific advice should issues arise under their particular contracts.

FAQs     Trading in Uncertain Times     Local Updates     Resources     Sanctions

Latest Articles

The G7 nations have agreed to implement a coordinated price cap on the sale price of oil to reduce the extent of price increases. Details of how the price cap will operate, along with its interaction with EU, UK and US sanctions, are discussed in our FAQs.

On 23rd February, 2024, the EU adopted a 13th package of sanctions against Russia. The legislation implementing this latest package of sanctions can be found here. The package,...

On the 18th December, 2023 the EU adopted a twelfth sanctions package against Russia. The main purpose of this package is to combat sanction circumvention and deal with loopholes. In summary, the twelfth sanctions...

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.

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. 

The outbreak of war in Ukraine on 24th February, 2022, and the subsequent closure of Ukraine’s Black Sea ports, caused great disruption to Ukrainian grain trade. Not only were ships unable to call at Ukraine’s ports, but ships that were at those ports when the conflict began were trapped.

The purpose of this update is to provide Members with a summary of recent developments with regard to EU sanctions.

On 3rd June, 2022, the EU decided to adopt a sixth package of sanctions against Russia and Belarus. The relevant legislation implementing this latest package of sanctions can be found here. Of particular relevance to Members will be the ban on the import of Russian oil into the EU, and the prohibition on insurance for the transport of Russian oil to third countries.

The UK has recently imposed further sanctions on Russia, publishing the Russia (Sanctions) (EU Exit) (Amendment) (No. 7) Regulations 2022 on 30th March, 2022, and the Russia (Sanctions) (EU Exit) (Amendment) (No. 8) Regulations 2022 on 14th April, 2022.


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