As the European Union steps up its support for Ukraine, the Russian Maritime Register of Shipping has been added to the list of state-owned enterprises subject to EU sanctions imposed in response to the Russian invasion.
The Russian Maritime Register is both the Russian national ship registry and a classification society. It is a member of IACS (the International Association of Classification Societies). With some leading IACs members already backing away from Russia, there are questions of how long it can maintain its membership of IACS. There is speculation that some IACS members may already be pushing for its expulsion, due to reputational damage concerns over any association with Russian state entities.
MARINE EQUIPMENT AND SERVICES TARGETED
The EU says it stands united in its solidarity with Ukraine and that its restrictive measures in response, that will have massive and severe consequences for Russia. More of those restrictions continue to roll out and any EU marine equipment manufacturers — or maritime services providers — doing business in Russia would be well advised to have their lawyers pay very careful attention to the details of the measures put in place by the EU. Not only do they apply to the provision of a broad range of equipment but also to maintenance and technical assistance.