Overview
On July 5, 2023, Global Trade Review quoted economic sanctions and EU trade partner Eva Monard in an article titled, "Maritime trade faces greater scrutiny as fresh EU maritime sanctions take effect." The article discusses new pressures that European Traders are facing following new EU Sanctions targeting ship-to-ship transfers and suspicious activity linked to Russian oil.
Eva noted that the port and locks access restrictions are focused on port authorities, but explained that, "if a company is relying on shipping and those vessels cannot access EU ports, they have a big issue there. The business risk is quite significant, certainly if you have no information about the previous activity of vessels you are relying on." Regarding costs linked to whether or not a port call is blocked under the new measures, Eva commented: "…even if you can get some compensation, there is still a significant business risk around delays and disruptions, so clients are looking at what they can do to avoid running into issues."