Russian Sanctions Landscape – Latest Transportation Updates
3 February 2023

The wind-down period for the transportation and ancillary services prohibitions for oil-laden tankers over the price cap for crude oil loaded before 5 December 2022 ended on 19 January.

The new measures introduced as part of the ninth sanctions package regard both sectoral sanctions against Russia and asset freezing measures against key entities and individuals in the Russian economy, armed forces and the political arena.

The measures include new export controls and restrictions on dual-use goods and technology; an extension of the prohibition to import, purchase and transport listed iron and steel products and crude oil or petroleum products; the exclusion of and new reporting rules for LNG; and the oil price cap exemption.

Our Corporate Compliance & Investigations and Shipping & Transport focus teams break down the main changes here.