How sanctions affect shipping companies and trade

News - Shipping and Freight Resource

The dictionary defines Sanctions as “Sanctions are measures taken by countries to restrict trade and official contact with a country that has broken international law.“.

Whether economic or political in nature, Sanctions have a real impact on the economy and can affect the interests of those engaged in businesses including international shipping.

The US and EU imposed sanctions on Russia due to the latter’s aggression against Ukraine.

Here is a look at the impact of these sanctions on the interests of shipping companies.

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