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

08/06/2022
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.

13/05/2022
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.

26/04/2022
On 8th April, 2022 the EU implemented a fifth package of sanctions on Russia by way of Council Decision (CFSP) 2022/578, Council Regulation 2022/576,and Council Regulation 2022/581.

22/03/2022
On 5th March, 2022, Singapore became the first South East Asian country to impose sanctions against the Russian regime in response to the invasion of Ukraine. This is the first time Singapore has imposed unilateral sanctions of its own since the Vietnamese invasion of Cambodia in 1978.

21/03/2022
On 15th March, 2022 the EU implemented further sanctions on Russia by way of Council Regulation (EU) 2022/427 and Council Regulation (EU) 2022/428. As well as 15 individuals, Council Regulation (EU) 2022/427 adds nine entities operating in the shipping, aviation, military and dual-use and machine building sectors to the designated list.  

14/03/2022
The relevant UK legislation regarding sanctions relating to Russia is The Russia (Sanctions) (EU Exit) Regulations 2019 which has recently been amended by six additional regulations (“the Amendment Regulations”) following the outbreak of armed conflict in Ukraine. 

11/03/2022
On 24th February 2022, the European Union put into place a wide range of measures in response to the conflict Ukraine. These measures can be found in Regulation 2022/328.

09/03/2022
Since the outbreak of war in Ukraine, the US has imposed further sanctions on Russian banks, financial institutions, entities and individuals. 

23/02/2022
The Law of Ukraine on Sanctions No. 1644-VII has been in force in Ukraine since 2014 and provides for a non-exhaustive list of 24 possible sanction types.

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