ShippingWatch

New Russian sanctions could hit carriers and ports

The new sanctions from the EU and the US could hit the Russian economy hard, thus also impacting the country's ports as well as carriers operating in Russia. "Our businesses in Russia are running as they should," says Maersk.

The third round of sanctions against Russia, just been approved by the EU and the US, is guaranteed to have a noticeable negative effect on the Russian economy, which is already struggling, according to several Danish and Russian experts ShippingWatch has spoken to Wednesday morning.

Already by the beginning of this year the prospects for the Russian economy looked somewhat lukewarm, and following the annexation of Crimea and the subsequent sanctions from the EU and the US, things have only gotten worse - for the ruble, in particular - but also for the Russian economy in general. The first two rounds of sanctions were taken somewhat lightly by most economic experts, as there was broad agreement that the sanctions would not yet hurt for real. But now things are getting real, with a halt in European bank financing and a ban on exports for, among other things, the energy sector.

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