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Sanctions Net Widens to Catch Russia’s Middle East Shipping Company
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The European Union sanctioned a Dubai-based subsidiary of Russia’s state-owned shipping giant, the first time it has used new powers to hit foreign-based entities that help Moscow circumvent Western restrictions.
The sanctions target Sun Ship Management, the manager of dozens of oil tankers that ferry Russian oil and natural gas around the world. The new sanctions include an EU asset freeze and ban on financing the company, which the EU said is part of government-controlled shipping company Sovcomflot.
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