Lloyd's List is part of Maritime Intelligence

This site is operated by a business or businesses owned by Maritime Insights & Intelligence Limited, registered in England and Wales with company number 13831625 and address c/o Hackwood Secretaries Limited, One Silk Street, London EC2Y 8HQ, United Kingdom. Lloyd’s List Intelligence is a trading name of Maritime Insights & Intelligence Limited. Lloyd’s is the registered trademark of the Society Incorporated by the Lloyd’s Act 1871 by the name of Lloyd’s.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

Printed By


The Lloyd’s List Podcast: Why shipping is facing a compliance crisis

Listen to the latest edition of the Lloyd’s List’s weekly podcast — your free weekly briefing on the stories shaping shipping

Economic measures to cut Russia off from the world’s financial arteries are the most extensive seen since the Second World War and the impact is starting to be felt. This week’s episode of the Lloyd’s List Podcast examines what that means for shipping companies trying to navigate the morass of rapidly evolving financial trade restrictions

THE business of shipping has been getting more complicated than usual over recent weeks.

The Western response to Russia’s invasion of Ukraine may be broadly aligned in terms of political objective, but the detail differs significantly, regimes often overlap and inconsistencies are acknowledged across the board.

As European nails down its latest round of sanctions seeking to ban imports of Russian crude during the next six months and refined products by the end of the year, shipping is struggling to keep up with the pace of new rules, sanctions, bans and self-sanctioning requirements from its customers who are also struggling to stay ahead of the evolving new world order.

While many European and American traders, oil companies and maritime service providers have terminated business with Russian shipping entities completely since the Ukraine invasion, others are looking at the confusion as an opportunity and are testing the boundaries of the increasingly complex matrix of sanctions regimes.

Most shipping companies, however, are trying their best to avoid Russian risk altogether, but that is easier said than done because the sanctions regimes are still evolving.

As we record this week’s edition European was yet to decide whether its forthcoming ban would affect only Russia-controlled ships or European ones along with services and insurance.

Unsurprisingly Greece and Cyprus were both contesting details there precisely because they have calculated the impact that will have on their sectors.

The reality is that these sanctions are by no means an end game and the detail is going to continue to complicate international trade for months, if not years to come.

Meanwhile, large sections of the shipping industry are working without in-house compliance teams which has left them struggling to keep pace.

Join us on Thursday, May 26 for the latest webinar in the Lloyd's List Future of Shipping series - Navigating Shipping through Volatile Geopolitics. For further details and to register, follow this link


Related Content





Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts