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Greek operators regain share in Russian crude exports despite tighter sanctions G7-linked tankers were carrying a higher proportion of Russian crude exports in February on the month, with the return of Greek operators amid strong freight rates despite tighter sanctions enforcement.

FRENCH SANCTIONS ENFORCEMENT The investigative arms of the French Customs Office conducted raids last week on a company that advertised on the dark web a "turnkey sanctions evasion solution" to circumvent Russian sanctions. The value of the exports is said to be in the several tens of millions of Euros, and the investigation relates to exports to countries neighbouring Russia. More detail on our European Sanctions Enforcement blog - link in the comments. #sanctions #sanctionsenforcement #France #DNRED

SWEDEN SANCTIONS ENFORCEMENT After receipt of information from the EU Commission about possible sanctions breaches and/or circumvention, the Swedish Foreign Ministry has summoned some big-name Swedish companies for a meeting attended by other agencies. As noted in our European Sanctions Enforcement blog (link in the comments), the concerns relate to imports into Russia of goods manufactured by these companies. #sanctions #sanctionsenforcement #sweden

📣 Poland and Finland Join Baltic Customs Initiative to Strengthen Sanctions Implementation 📅 On May 9, 2024, Poland and Finland joined the Baltic Customs Initiative, led by Lithuania, Latvia, and Estonia, to implement uniform controls for sanctions. ✅ The agreement aims to block supply routes to Russia's war efforts, with Lithuania advocating for consistent measures across EU states. Strengthened controls will prevent circumvention of sanctions on exports to Russia and Belarus. Measures include requiring manufacturer's declarations and additional documents to mitigate risks. 📉 The initiative, effective since June 2023, has reduced exports to Central Asia, demonstrating its efficacy. However, challenges persist as EU sanctions don't extend to countries like those in the Eurasian Customs Union with Russia. Original source 👉: https://lnkd.in/gkdfs6uC #EUsanctions #sanctionsupdate #sanctionscompliance #Russiasanctions #Belarussanctions #BalticCustoms #Sanctions

EU Faces Dilemma Over Further Sanctions On Russian Fish Imports https://lnkd.in/eh-TN4R9 #EUfishingnews #EUfishingindustry #fishingnews #commercialfishingnews #dailyfishingnews #EUseafoodNews #RussianFishImportsEU

Lithuania to tighten control over dual-use goods within sanctions against Russia The republic's customs department intends to pay special attention to electronics components, as well as products subject to exemptions VILNIUS, November 11/ As part of sanctions against Russia and Belarus, Lithuania is set to tighten control over dual-use goods falling into the risk category declared as exports by EU member states, the republic's customs department said. "As part of sanctions against Russia and Belarus, physical control of dual-use goods will be implemented at border crossings beginning from November 11," the department said in a statement. The agency intends to pay special attention to electronics components, as well as products subject to exemptions. These include medical diagnostic equipment, mechanisms and spare parts for them. "Lithuanian customs at the border with Russia and Belarus are the final link of all procedures for exports from the EU, so it is necessary to assess all the risks arising in this process," the department noted. As many as 90% of the cargoes traveling through Lithuania are exports from EU member states. #business #finance #financialservices

📣 UK Exporter Pays £58K Settlement for Breach of Russia Sanctions On November 4, 2024, HM Revenue and Customs (HMRC) published details of a compound settlement issued in August 2024, where a UK exporter paid £58,426.45 for breaching The Russia (Sanctions) (EU Exit) Regulations 2019. ❌ This breach involved unauthorized export of goods to Russia. The UK, in coordination with international partners, continues to enforce sanctions following Russia's invasion of Ukraine, collectively blocking over $400 billion in funds to Russia. Since February 2022, HMRC has imposed six such settlements totaling £1,363,129. ✅ Exporters are urged to follow guidance on compliance and report any possible violations to HMRC. Original source 👉: https://lnkd.in/eSp9-Ykg #Uksanctions #sanctionsupdate #RussiaSanctions #HMRC #SanctionsEnforcement

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🚨 U.S. Warns of Sanctions Amid India-Iran Port Deal🚨 In a recent development that could escalate tensions between the U.S. and India, the U.S. State Department has issued a stark warning about the risks of sanctions for entities engaging in business with Iran. This warning comes just hours after India signed a transformative 10-year agreement to operate and further develop the strategically important Chabahar Port in Iran. India’s move, described by the country’s Shipping Minister as a "historic moment in India-Iran ties," aims to enhance access to Afghanistan and Central Asia, circumventing the challenging land route through Pakistan. Under the agreement, the Indian Ports Global Limited (IPGL) will commit approximately $370 million in investments to develop the port facilities and infrastructure. However, this engagement with Iran has raised eyebrows in Washington. The U.S. has imposed over 600 sanctions on Iranian-related entities in the past three years and remains steadfast in its policy. Vedant Patel, Deputy Spokesperson of the U.S. State Department, emphasized that the sanctions regime is still active and that any new business dealings with Iran could potentially face serious repercussions. As India has not yet responded to the U.S. statement, the international community watches closely. The Chabahar Port, having already facilitated significant shipments to Afghanistan, remains a linchpin in India's strategy to bolster its trade routes and regional influence. #usforeignpolicy #sanctions #indiaIranrelations #chabaharport #internationaltrade #ofac #eusanctions https://lnkd.in/dHGmb3_D

Understanding EU Sanctions Compliance Amid Russian Maritime Challenges The detention of ATLANTIC NAVIGATOR II in Germany for carrying sanctioned cargo highlights ongoing challenges in enforcing EU #sanctions against Russia. Despite robust sanctions, ships like POLA PELAGIA and POLA MARIA still access #EU ports, raising questions about the efficacy of these measures and potential safety risks due to potentially inadequate insurance. With #Russia's exports to the EU drastically reduced, the effectiveness of sanctions is evident, yet incidents at European ports reveal enforcement gaps. Analysts predict a decline in Russia's GDP over the coming years due to these sanctions and import #ban, potentially impacting EU economies. Read more about the intricacies of EU sanctions and their impact on the EU #economy, as well as the importance of vessels maintaining #compliance: https://lnkd.in/d6b-wJxy #marinetraffic