Russia: pressure on shipping is increasing

Marine engine manufacturers cut ties with Russia

The Finnish company Wartsila has stopped doing business with Russia. Due to the war in Ukraine, all deliveries and sales to Russia and Belarus have been stopped. This global manufacturer of marine engines and ship operating systems is not the only one to take action; its German partner MAN Energy Solutions is also reviewing contracts. The pressure on Moscow is increasing.

The Russian maritime industry and shipping are already struggling with the sanctioning of other services, including the certification of ships, without which access to harbours and the conclusion of insurance policies is not possible. The imposition of sanctions also includes the boycott of the leading maritime transport company Sovcomflot. This means that Russian companies will hardly be able to engage in maritime trade or operate ships.

Source: Thomson Reuters 2022, own research