The shipping industry must navigate numerous sanctions as a result of Russia’s war on Ukraine.
According to a count by marine assurance tech firm MIS Marine, the number of individual sanctions that shipping faces totals around 2 400. Furthermore, 3 172 distinct vessels would be classed as associated with Russia under the EU’s port ban situation, reports Splash 247.
MIS Marine’s entry-level product, Mainstay Core, provides a comprehensive view of sanctions data to support compliance for ship charterers and minimise the risks for ports and terminals.
According to MIS Marine managing director Dominic McKnight Hardy, marine assurance includes understanding the complete risk profile, and indirect business with a sanctioned entity is a form in which the risks may appear.
