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EU proposes Black Sea Maritime Security Hub

Posted to Maritime Reporter on May 28, 2025

The European Union proposed Wednesday creating a center to enhance security in the Black Sea, by collecting information from different countries and monitoring the region more closely. This move comes at a time when European officials are warning about the continued threat of Russia…

Minister warns of 'hypothermia risks' in Russia's cooling economic system

Posted to Maritime Reporter on May 26, 2025

Maxim Reshetnikov, the Russian Economy Minister, urged on Monday that central banks take into consideration slowing inflation when they meet next week to set interest rate. He warned that Russia's cooling economic is showing signs "hypothermia".

Sovcomflot, the sanctioned Russian tanker group, suffers a $393 million loss

Posted to Maritime Reporter on May 23, 2025

Sovcomflot, Russia's largest tanker company, suffered a $393 million net loss in the first three months of the year. The group blamed the decline on the new Western sanctions, which have caused operational issues, reduced revenues, and the idleness of some sanctioned ships.

Canada's Champagne: Ministers of G7 not'skating' around tariff issue

Posted to Maritime Reporter on May 22, 2025

Francois-Philippe champagne, Canada's finance minister, said that discussions about tariffs were held during the G7 meeting of financial leaders. This was despite the fact that they had been mentioned in the final communiqué. At the conclusion of the meeting…

Official: US not convinced by lower G7 price cap for Russian oil

Posted to Maritime Reporter on May 22, 2025

An official from Europe said that on Thursday, the United States was "not convinced" by the idea of lowering the price cap for Russian crude oil set by the Group of Seven Nations (G7). The European Union proposed lowering the cap to a level indicative of $50 per barrel.

Sources say that Russia has removed the minimum price for wheat recommended to grain exporters.

Posted to Maritime Reporter on May 22, 2025

Four market sources have confirmed that Russia, the largest wheat exporter in the world, has removed the minimum price recommendation for grain exporters until the end the export season, which is July 1. Sources said that the initial minimum price for May and Juni was $250 per metric ton.

Poland checks for explosive devices near underwater power cables, PM says

Posted to Maritime Reporter on May 22, 2025

Poland is investigating whether explosive devices have been planted after a Russian "shadow fleet's" ship was seen suspiciously moving near a cable connecting Poland and Sweden on Wednesday. According to Polish Prime Minister Donald Tusk, Poland will be looking into the matter.

Kremlin: Russia will defend ships in Baltic Sea using all available means

Posted to Maritime Reporter on May 21, 2025

The Kremlin announced on Wednesday that Russia will defend its ships in the Baltic Sea using all available means. A recent failed Estonian attempt at seizing a tanker showed that Moscow can respond with harsh action if necessary. It was reported…

EU adopts four new sets of sanctions against Russia

Posted to Maritime Reporter on May 20, 2025

The European Commission announced on Tuesday that the EU had adopted four sets sanctions against Russia for the war in Ukraine, including a 17th set of measures targeting Moscow's Shadow Fleet, as well as measures relating to chemical weapons and human rights, and hybrid threats.

After Estonia tried to seize a tanker, Russia accused NATO of "aggressive action" in the Baltic Sea.

Posted to Maritime Reporter on May 20, 2025

Russia accused NATO on Tuesday of committing what it described as aggressive actions in Baltic Sea, which impeded freedom of shipping. This came after Estonia attempted to seize and failed to do so a tanker. Estonia reported on Thursday, last week…

Estonia claims that Russia has detained a vessel in the Baltic Sea

Posted to Maritime Reporter on May 18, 2025

The Estonian Foreign Ministry reported that Russia had detained an oil tanker owned by Greece on Sunday, after it left a Baltic Sea port in Estonia. It also said it had alerted NATO of the incident. In a press release, the Ministry of Transport…

Estonian Navy says it attempted to detain a Russian'shadow Fleet' in Baltic Sea

Posted to Maritime Reporter on May 15, 2025

The Estonian Navy reported that it tried to detain an oil tanker bound for Russia under sanctions by Britain on Tuesday, claiming it had sailed without a flag and sailed in an illegal manner. However, it did not board the vessel when it refused cooperation, instead escorting to Russian waters.

French Foreign Minister: EU envoys have agreed on 17th package of sanctions against Russia

Posted to Maritime Reporter on May 14, 2025

Jean-Noel Barrot, the French Minister of Foreign Affairs said that on Wednesday, EU diplomats announced sanctions on nearly 200 tankers from Russia's "shadow fleet". Sources who spoke anonymously said that although two countries need to consult with their parliaments about the details…

EU envoys discuss the sanctions related to Russia's chemical weapons use

Posted to Maritime Reporter on May 7, 2025

EU sources confirmed on Wednesday that the European Commission had proposed adding 15 new entities and persons to its sanctions framework, including individuals suspected of using chemical weaponry in Ukraine as well as Russian hybrid threats.

Data shows that the price of Russian Urals oil remains below the Western price cap

Posted to Maritime Reporter on May 6, 2025

Calculations based on LSEG's data show that since April 3, the price of Urals oil in Russian ports along the Black Sea and Baltic Sea has been below the cap set by Western nations. The Group of Seven (G7) countries have introduced a price cap…

Estonia releases a tanker bound for Russia

Posted to Maritime Reporter on April 28, 2025

Estonia released the oil tanker Kiwala that was detained for not having a valid flag. The Estonian Navy detained the tanker bound for Russia and boarded it on April 11, 2019. The tanker is believed to be a part of the so-called “shadow fleet”…

World Bank looks at energy financing options but holds firm on equality issues

Posted to Maritime Reporter on April 25, 2025

The World Bank steering committee endorsed on Friday the lender's plans for exploring options to expand access to energy, including possible financing for nuclear power. This is in line with U.S. President Donald Trump’s directives to increase energy financing.

Dutch shipbuilder Damen is accused of corruption and violating sanctions by prosecutors

Posted to Maritime Reporter on April 25, 2025

The Dutch prosecutor said that they summoned Damen Shipyards, a shipbuilder in the Netherlands, on suspicion of violating EU Sanctions against Russia. They also opened a separate corruption case against Damen Shipyards and its top executives. The company denied the accusations.

Canadian Finance Minister: G7 united, but tensions still remain over tariffs

Posted to Maritime Reporter on April 24, 2025

Canada's Francois-Philippe Champagne, Canada's Minister of Finance, said that the Group of Seven Industrial Democracies continues to be united. However tensions remain amongst them over the tariffs imposed by the U.S. Champagne said at a briefing…

Canadian Finance Minister: G7 is united, but tensions still remain over tariffs

Posted to Maritime Reporter on April 24, 2025

Canada's Francois-Philippe champagne, Canada’s Finance Minister said Thursday that the Group of Seven biggest economies remain united but there are tensions between them over the tariffs imposed by the United States. Champagne said at a briefing…

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