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Skuld is getting rid of sanctioned Russian client Sovcomflot

Skuld is hard at work shutting down business with its large Russian client Sovcomflot, which has been hit by sanctions following Russia’s invasion of Ukraine. The maneuver also means that a Sovcomflot representative on Skuld’s board of directors will step down, ShippingWatch learns.

Photo: PR-FOTO

On account of the EU’s sanctions, marine insurer Skuld must bid farewell to major Russian client and tanker carrier Sovcomflot, which has around half its fleet of 100 ships insured by the Norwegian company.

Skuld is in the process of shutting down its business with the Russian client, ShippingWatch has learned, which also means that a Sovcomflot representative on Skuld’s board of directors will resign.

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