Russian energy sector, banks hit by EU sanctions – big changes for shipping

The EU agrees on package of sanctions against Russia after the country’s invasion of Ukraine, but Russians remain able to use international payment system Swift. Major changes for shipping in the Black Sea, says analyst.

Photo: PR / Hapag-Lloyd

70 percent of Russia’s banking sector will be affected by the European Union’s new sanctions, but also the nation’s energy sector, including oil refineries, will come under pressure.

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