Following our earlier updates on EU sanctions against Russia (available on the NNPC website), we note that the European Union has introduced its 16th sanctions package. This package tightens trade, energy, and vessel-related restrictions with direct implications for your operations.
Below, we outline the measures most relevant to shipowners and operators, along with practical steps to stay compliant.
- Trade Restrictions Impacting Cargo Operations
- Russian Aluminum Import Ban: A full ban on primary aluminum from Russia is now in effect. A transitional quota of 275,000 tons (80% of 2024 imports) applies for the next 12 months to ease the shift. Check your cargo manifests and contracts to avoid penalties.
- Expanded Export Controls: New restrictions target dual-use goods, including chemical precursors for riot control agents and drone components, plus chromium ores, military-grade compounds, and specific minerals, chemicals, steel, and glass materials. Ensure your shipments don’t inadvertently include these items.
- Ban on Temporary Storage of Russian Oil: You can no longer store Russian crude oil or petroleum products temporarily in EU ports or free zones—even if they meet the price cap and are bound for third countries. This closes a previous loophole, so review your port calls and storage plans immediately.
- Oil and Gas Project Bans Extended: The existing prohibition on supplying goods, technology, or services to Russian LNG projects now covers crude oil projects too. If your vessels support such operations, reassess your exposure.
- Vessel-Specific Sanctions : This package adds 74 vessels to the EU’s sanctions list, bringing the total to 153. These include ships linked to Russia’s shadow fleet or its energy revenue streams.
General recommendations: Compliance is critical. Review your supply chains, voyage plans, and contractual obligations now. Conduct thorough due diligence on cargoes, trading partners, and service providers—especially for routes or shipments tied to Russia.
For further information we refer to our website or you can reach out to the NNPC claims team at claims@nnpc.nl. Stay vigilant and keep your operations on the right side of these rules.
