On 8 April, the European Commission issued a fifth set of sanctions against Russia, this time focused on shipping and logistics. It is equally notable London insurance market’s recent addition – through the Joint War Committee (JWC) – of Russia as a war zone.
The main change is that all vessels registered under the flag of Russia are prohibited from accessing EU ports after 16 April: but precisely what vessels are affected by the prohibition?
The addition of Russia to the JWC Listed Areas also affects the rights and obligations of charterers, owners and cargo interest and the costs related in the performance of maritime transports: so what analysis and advice is now urgently needed?
Our Shipping & Transport Focus Team answers these questions and more in the document available here.