top of page

Join us on the app

Risk on the Rise: Navigating the 11th Sanctions Package

Windward produced a fantastic webinar whereby their pannel of experts discussed the implications of the latest sanctions, how stakeholders in the maritime industry can move from policy to practice, and more.


Speakers:


  • Olga Dimitrescu, Head of Engagement at OFSI, HM Treasury

  • Eva Monard, International Trade Partner at Steptoe & Johnson

  • Simon Ring, Senior Commercial Director, Windward

  • Dror Salzman, Product Manager, Windward

Our highlights:


This new package is a game changer in the sense this is the first time we’ve seen detailed prescriptive guidance with wide ranging cause and effect, bringing in more actors and stakeholders in the maritime ecosystem.


The 11th package is really about fighting the circumvention of what is already in place.

This behavior is clear by looking at trade statistics and the rise in STS and AIS spoofing.




90k port calls last year in the EU and 14% were made by Russia affiliated vessels.

In the last 2 years there have been 30k dark activities related to sanctions evasions.


In Q2 there was a 75% increase in dark activities by tanker vessels following a port call in Russia and a 140% increase in dark activities in the Black Sea.



880,000 signal losses and only 0.8% were related to sanction evasions.



Deceptive Shipping Practices are changing.



The amount of events are growing as well as the type of manipulation event is changing.



What does it mean for stakeholders in the maritime industry?


A thorough due diligence process is required primarily to avoid violations but also to demonstrate to the regulators that you took all reasonable steps in the event of a breach.


The EU commission will be working with all member states to support with their own resources + facilitate the exchange of information between ports.


New export restrictions will have a severe impact on the supply chain.


Posted on July 14, 2023.

Comments


bottom of page