UK sanctions Russian shipping company Sovcomflot

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The UK has imposed sanctions on major Russian shipping company Sovcomflot following Russia’s military action against Ukraine.

Sovcomflot’s fleet of ships transports oil and liquefied natural gas from Russia, as well as cargo from other countries, including the United States.

As ports, end buyers, marine insurers and other freight companies withdrew their services after Moscow invaded kyiv, Sovcomflot encountered problems in concluding charters, reported Reutersciting maritime sources.

Due to Russian vessel mooring regulations, the tanker NS Champion, operated by Sovcomflot, was ordered to alter course away from the UK in February.

Ship tracking data shows that the NS Champion sailed towards the Danish coast, but then changed course again towards the Baltic Sea region.

Last week, the European Union placed Sovcomflot on the list of Russian public entities with which it was “prohibited to directly or indirectly engage in any transaction” after a liquidation period that will end on May 15.

Earlier this month, Sovcomflot tankers were rerouted to the Bahamas after being unable to deliver cargo despite sanctions.

Last month, the United States imposed sanctions on the Russian maritime entity to prevent it from raising funds in its capital markets.

This week, the CEO of the Greek Angelicoussis group, Maria Angelicoussis, said that shipowners have become cautious about transporting Russian oil cargoes following the Russian-Ukrainian conflict.

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