It has been weeks since the invasion of Russian troops into Ukraine. Western countries are increasing the intensity of economic sanctions against Russia, from the banking and financial system to the fields of trade, transportation and technology. What sanctions does the Russian shipping industry face? What will be the impact on the global shipping industry? What impact will it have on China? These may be the concerns for shipping participants. I will continue to update and answer these questions.

[Fleet]: The DWT of the seaborne shipping capacity of Russian ships accounts for a small proportion of the global total capacity, about 2%, of which the proportion of tankers and LNG ships is relatively high, 2.4% and 2.1% respectively. Russian ship activities are mainly concentrated in the Black Sea, the Mediterranean, northern Europe and the Far East.

[CARGO]: in 2021, the export volume of Russian seaborne goods exceeded 600 million tons, accounting for about 5% of the global total. Its main goods are crude oil, product oil, coal and grains, which are mostly transported over short distances. Russia and Ukraine account for 7% and 9% of the world's grain exports by sea respectively, almost all of which are exported from black sea. At present, they are in the off-season of grain exports.

[MARITIME SANCTIONS]: the sanctions imposed on Russia by the United States, Britain and other western countries are escalating. The United States began new sanctions against Russian banks and financial institutions on February 22; The United Kingdom, Canada and the United States have also successively announced the prohibition of Russian flagged-ships from docking to their national ports, although this is more symbolic, as the frequency of Russian ships call on the United States and Canada is relatively low.

• February 22: the United States imposed sanctions on many large Russian banks and financial institutions and their subsidiaries: Including five ships belonging to PSB leasing, a subsidiary of Promsvyabank: the 2000 built, 7195 DWT ro-ro Baltic leader (IMO: 9220639); the 2003-built, the 115,418 dwt tanker Linda (IMO: 9256858); the 2003-built, 115,527 dwt tanker Pegas (IMO: 9256860); the 2003-built, 822 teu FESCO Magadan (IMO: 9287699); and the 2003-built, 822 teu FESCO Moneron (IMO: 9277412). At the same time, due to the financing restrictions of the United States, 30 new-building orders of Sovcomflot, the Russia's largest shipping company, with a total of about US$5 billion worth, are expected to be affected. These orders are mainly LNG carriers used in the Arctic Ocean LNG project.

• February 26: the French detained the Baltic Leader bound for St. Petersburg in the English Channel, bur Promsvyabank claimed that it had sold the ship before the sanctions began.

• February 28: the United Kingdom announced a ban on all Russian-related ships from berthing in British ports, including all ships with Russian flag and owned, operated and chartered by Russians.

• March 2: Canada announced a ban on the docking of Russian flag ships.

• March 3: the United States is to announce the sanctions on ban Russian-flagged ships from docking in US.

[ENERGY TRANSPORTATION]: the EU has not imposed larger-scale sanctions on the berthing of Russian ships, mainly due to the fear that the sanctions may interrupt energy transportation and lead to the further surge of oil and gas prices. About 40% of Europe's natural gas imports and 30% of oil imports come from Russia, while 30% of Rotterdam port's crude oil and 25% of LNG come from Russia.

[SEAFARERS]: A large number of seafarers are Russian, accounting for about 10% of the world total, including many senior seafarers and technicians. The comprehensive maritime sanctions against Russia may have an impact on them. At the same time, Ukrainian seafarers account for about 6%.