Ship Seized in France, Suspected of Violating Russia Sanctions
France on Saturday seized a car cargo ship in the English Channel that Washington says was linked to the son of a former Russian spy chief, in one of the first visible displays of the West enforcing sanctions on Moscow over its Ukraine invasion.The "Baltic Leader" was headed to St. Petersburg but was diverted to the port of Boulogne-sur-Mer in northern France between 3 a.m. and 4 a.m. (0200-0300 GMT), Captain Veronique Magnin of the French Maritime Prefecture told Reuters.The vessel was "strongly suspected of being linked to Russian interests targeted by the sanctions," she said.The United States Treasury Department has issued blocking sanctions against the vessel because…
Russian Tanker Company to Develop Arctic
According to RIA Novosti, Russian President Vladimir Putin signed a decree ordering the country's two largest tanker companies to be reorganized into a single corporation. The objects of the merger are 100% state-owned Sovkomflot in St. Petersburg, the country's largest tanker company by capacity, and Novoship, the second largest, in which the government owns an 87.4% stake, in Novorossiisk on the Black Sea coast. It will take nine months to complete the merger and hold an IPO. The new company will then become the fifth or possibly the third largest tanker operator in the world. Putin recently met Sovkomflot CEO and former Transport Minister Sergei Frank and said this project was largely the idea of the ministry and Frank himself.
Russian Government to Cancel LNG Export Duties
The Russian government may cancel export duties on liquefied natural gas (LNG) following a request from Gazprom, says an RIA Novosti report. The gas giant plans to build two LNG plants near the giant offshore Shtokman gas field and in East Siberia for export to the U.S. market. The move is being discussed by a government committee and is set to be put to Prime Minister Mikhail Fradkov for approval. Both Russia and the U.S. view LNG as the centerpiece of their energy dialogue. U.S. imports of LNG are forecast to increase 10-fold by 2025 and Gazprom is clearly positioned to play a major supplier role. The Shtokman shelf holds an estimated…
