EU’s 18th sanctions package on Russia may cause ripple effects on the shipping industry

The European Union’s newly proposed 18th sanctions package against Russia marks another escalation in the West’s economic warfare following Moscow’s invasion of Ukraine.

While these measures target Russia’s energy revenues, financial networks, and military-industrial base, the shipping industry is poised to feel the aftershocks globally from tanker fleet realignments to compliance challenges and trade route reconfigurations.

At the center of this package are stricter financial restrictions, expanded shadow fleet designations, and a broadening of enforcement scope to non-EU banks and vessels.