Sanctions Harming Maritime Safety, According to Sanctioned Shipping Group Sovcomflot, Reports Reuters

LONDON (Reuters) – Sanctions imposed on shipping companies are compromising safety at sea and creating risks for trade as they affect ship standards, according to the chief executive of the sanctioned Russian shipping group Sovcomflot.

The European Union has enacted sanctions against Russia’s state-owned shipping giant Sovcomflot and its CEO, Igor Tonkovidov, as detailed in measures published in the EU’s Official Journal on Monday. Earlier this year, the U.S. Treasury’s enforcement arm designated 14 tankers as properties in which Sovcomflot has an interest.

“Sovcomflot is genuinely disappointed that high-quality safe maritime transportation is sacrificed for short-term geopolitical motivations, which certainly does not contribute to improving the safety of maritime transportation, especially in European waters,” Tonkovidov stated in comments sent to Reuters. He emphasized SCF’s strong objection to the fragmentation of the global trade fleet into adversarial factions, warning that it endangers the safety culture and values the maritime industry has developed over decades.

Tonkovidov assured that the company would “certainly continue to adhere to the highest standards.” He had previously noted that sanctions had limited the company’s operational scope and commercial opportunities.

Once among the world’s leading tanker operators, SCF transported approximately 75 million metric tons of oil in 2023, primarily to markets in China, India, and the Mediterranean.

The Western sanctions on Russia have prompted the departure of international service providers, including ship engine manufacturers and safety certifiers, increasing the challenges faced by the Russian fleet. Additionally, officials in the global shipping industry have raised concerns about safety risks posed by a growing number of aging and unregulated tankers in the shadow fleet that transport oil from sanctioned countries, including Russia, Iran, and Venezuela.