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Economic Sanctions

Canada Slaps Sanctions on Russia Energy Firms

Canada slaps sanctions on Gazprom, other Russia energy firms   Canada is imposing economic sanctions against Russian energy firms such as natural gas producer Gazprom OAO in response to the actions of Russian-backed militants in Ukraine, Ottawa said on Monday.   A government statement did not give details of the sanctions. Other firms targeted are Gazprom Neft OAO, Surgutneftegaz OAO and Transnefteprodukt OAO.     (Reporting by David Ljunggren; Editing by Richard Chang)


Norway Supports Statoil, Rosneft JV

Photo pixabay.com

  Norwegian authorities have given the Stavanger-based energy giant Statoil the go-ahead on joint projects with Rosneft, a Russian oil titan that was the target of Western sanctions in 2014. Statoil and Rosneft previously agreed on four projects to explore and produce oil on the Russian continental shelf in the Barents Sea and in the Sea of Okhotsk close to the Arctic Circle. Additionally, there are two joint cooperation projects onshore.


Ninety North Korean Ships Granted Entry to Japan

Ninety North Korean vessels were granted certificates to enter Japanese ports in the eight months since a new law that bans entry of any ship without insurance took effect, according to a Daily Yomiuri report. The law on liability for oil pollution damage, which came into force on March 1, requires vessels of 100 tons or larger to be insured before docking in Japan. It had been viewed as a de facto economic sanction


Shipping Company's Losses Total $110M

Ukraine's Danube Shipping Company lost $110 million due to military action in Yugoslavia last year that destroyed bridges and blocked traffic along the Danube, transport minister Leonid Kostyuchenko said. NATO launched air strikes last year on Yugoslavia, which it accused of ethnic cleansing in the province of Kosovo, densely populated by ethnic Albanians. Kostyuchenko said collapsed bridges had blocked 63 Ukrainian ships on upper stretches of the Danube


East Ukraine Referendum Raises Fears Of Dismemberment

  Rebels pressed ahead with a referendum on self-rule in east Ukraine on Sunday and fighting flared anew in a conflict that has raised fears of civil war and pitched Russia and the West into their worst crisis since the Cold War. Clashes broke out around a television tower on the outskirts of the rebel stronghold of Slaviansk shortly before voters made their way to polling stations through streets blocked by barricades of felled trees


Russia Says Will React if U.S. Imposes New Sanctions

  Russia will take counter measures if Washington imposes new sanctions on Moscow over the Ukraine crisis, Russia's Deputy Foreign Minister Sergei Ryabkov said on Saturday. The U.S. Congress has readied new sanctions on Russian weapons companies and investors in the country's high-tech oil projects, but U.S. President Barack Obama has yet to sign a corresponding bill into law. "We will not be able to leave that without an answer


Statoil Reports Robust Q1

Oseberg field centre - Photo Harald Pettersen - Statoil.

Norway's Statoil defied gloom in the oil sector by reporting first-quarter earnings above expectations on Tuesday due to higher prices and good results from shale gas activities in the United States, lifting its shares.   Regarding new sanctions on Russia, Statoil's CEO told Reuters it was too early to say whether he would attend a high-profile St Petersburg economic forum in June as planned, as the firm had to assess the impact of the measures first.  


Give Iran Talks A Chance - Merkel

German Chancellor Angela Merke

  German Chancellor Angela Merkel said on Friday negotiations with Iran over its nuclear program have to be given a chance, but sanctions could still be reinstated if needed. Merkel said Iran had to comply with an agreement under which Tehran agreed to limit parts of its nuclear work in return for the easing of some sanctions. "If Iran does not meet its obligations, or does not meet them adequately, we remain ready to take back the current limited suspension of sanctions


No New Cold War Talks Over Ukraine

  Russian President Vladimir Putin on Saturday dismissed talk of a new Cold War over the crisis in Ukraine and denied trying to rebuild the Soviet Union after reclaiming Crimea. In an interview with Reuters and other international news agencies in a grandiose palace outside St Petersburg, Putin blamed the violence and political instability in Ukraine on the West and warned that sanctions would rebound on the United States and the European Union.


Russia's Yamal LNG Project May Tap Wealth Fund in 2014

Yamal megaproject

  Russia's Novatek may get funds from the National Wealth Fund for its Yamal LNG project before the year-end, a minister said, as part of government plans to support sanction-hit companies. Russia's No.2 gas producer, co-owned by an ally of President Vladimir Putin, Gennady Timchenko, was put on the Western sanctions list over Moscow's role in the Ukraine crisis, limiting its ability to raise funds in Western markets.


Ruscon Increases Business in Russian Market

Vladimir Bychkov (Photo: GCS)

Intermodal operator Ruscon reported it has increased its market share in Russia, maintaining a strong position in a country which has seen imports fall by 20 percent in the last 12 months. In the first quarter of 2015, Ruscon handled 32,250 laden containers compared to 28


Russian Arctic Offshore Drilling Postponed

Russian Arctic offshore drilling set for 2015 to be postponed to 2016 or later - Novak   Russia's Energy Minister Alexander Novak said on Thursday that Arctic offshore drilling planned for this year will be postponed until 2016 or later.  


Iran Shipping Rising from Sanctions

Image:  IRISL

 Malta Freeport has renewed its contracts in Iran with Hafiz Darya Shipping Lines (HDS) in the expectation that sanctions will be removed later this year, according to Times of Malta.   Officials in Malta Freeport were perplexing to convince Iranian inhabitant shipping line IRISL to


NITC Tankers Chart Western Course

Sourena is a FSU for Iranian crude export located in the Persian Gulf, south of Iran. Photo: NITC

 Iran’s largest shipping company NITC, the privatized Iranian shipping company, is in talks for permission to sail in Western waters, says a report in WSJ.   NITC has amassed the world’s largest fleet of super tankers and is in talks to sail back into western waters should


US Ports Boost Economic Impacts

Photo: Port of Los Angeles

Since last nationwide analysis in 2007, U.S. seaport contributions to economy up dramatically    Lancaster, Pa.-based Martin Associates, a provider of economic and strategic assessments of the world’s transportation systems


Arctic Nations to Fight Climate Change Despite Russia Tensions

Arctic Nations

  The eight Arctic Council nations pledged on Friday to do more to combat climate change that is shrinking the vast frigid region, with countries trying to put aside disputes over issues like Russia's intervention in Ukraine. Meeting in the Canadian town of Iqaluit


China, Russia to Stage First-Ever Joint Naval Drills

Image: Chinese Navy

 As part of growing informal partnership between the two militaries, the navies of China and Russia plan to hold joint drills in the Mediterranean Sea for the first time in mid-May, China's Defense Ministry stated.   The "Joint Sea 2015" exercises will feature nine surface


Germany Mulls Maritime Ties with Iran

Image: Rudolf Schepers GmbH & CO. KG

 Germany and Iran seeks to develop economic relations in the field of maritime trade and ports for increasing the trade volume between the two countries, reports PressTV.   German Ambassador to Tehran Michael Baron von Ungern was quoted by Fars news agency as saying that increased


India to Sign Port Deal with Iran

India to build port in Iran to get more trade with CIS and Gulf India will push ahead this week with plans to build a port in southeast Iran, two sources said, with Prime Minister Narendra Modi keen to develop trade ties with Central Asia and prepared to fend off U.S


India, Iran Ink Port Deal Despite US Warning about Haste

India reached a deal on Wednesday to develop a strategic port in southeast Iran despite U.S. pressure not to rush into any such trade agreements before world powers clinch a final nuclear accord with Tehran.   Shipping Minister Nitin Gadkari and his Iranian counterpart Abbas Ahmad Akhoundi


Seattle, Tacoma Prepare for Seaport Alliance

Terminal 46 in Seattle (Photo: Port of Seattle)

The Northwest Seaport Alliance hits key milestone as ports of Seattle, Tacoma prepare to unify marine cargo management   A draft of the final agreement between the ports of Tacoma and Seattle has been released, heralding a milestone in the formation of a Seaport Alliance that will unify the


Shipping Company To Pay $800K For Dumping Oil

AML Ship Management GMBH, a German company, was sentenced in federal court today to pay a total of $800,000 in fines and community service payments for violating the Clean Water Act and the Act to Prevent Pollution from Ships by intentionally discharging 4


Myanmar Lands 700 Migrants

Myanmar lands 727 migrants after boat kept offshore for days. Myanmar brought ashore more than 700 "boat people" it had kept at sea for days aboard a seized vessel, as the United States on Wednesday called on the country to help solve a migrant crisis by recognising the rights of its


Iran and Russia Linked Across the Caspian Sea

Image: Islamic Republic of Iran Shipping Lines

 A subsidiary of Islamic Republic of Iran Shipping Lines (IRISL) has launched a series of new routes across the Caspian linking Russia and Kazakhstan, reports Informatore Navale.   This initiative will bring six sailings per month for new services


Oil Slips on OPEC Output, China Slowdown

China's crude imports down 23 pct in May; OPEC oil production likely to continue to exceed demand. Oil prices slipped on Monday on news of a slide in China's fuel imports and as markets digested OPEC's decision to maintain its production target






 
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