Russian sanctions

Protecting freedom in Ukraine will require economic sacrifice by many. Air cargo is already feeling the pinch.

The United States is closing its airspace to all Russian aircraft as punishment for invading Ukraine, President Joe Biden said in his State of the Union address to the nation Tuesday night. “I am announcing that we will join our allies in closing off American airspace to all Russian flights — further isolating Russia — […]

Container lines and tanker owners rapidly and preemptively suspend business with Russia.

Air cargo is facing more headwinds because of the Ukraine crisis, but some industry players could gain business.

Western sanctions on Russia will have a devastating impact on all-cargo airline Volga-Dnepr. Shippers will feel some pain too.

Tanker and dry bulk trades could be disrupted; container shipping faces heightened risk of cyberattacks.

An attack on Ukraine could hike costs for shipowners and cargo shippers across the globe.

Democratic Senators Charles Schumer and Sharrod Brown say sanctions should target not only the responsible Russian government agencies and officials, but President Vladimir Putin.

The Commerce Department wants to further restrict U.S.-origin items that could assist in nuclear and missile weapons development and diversion efforts in the two countries.

The Office of Foreign Assets Control has added the Swiss-based oil brokerage arm of Rosneft Trading to the SDN List for its recent arrangements to transport sanctioned Venezuelan oil.

The Treasury Department’s Office of Foreign Assets Control identified Moscow-based Maritime Assistance LLC as the head of a “sanctions evasion scheme” to deliver jet fuel to Syria.

U.S. companies with business in Russia — even those not engaged in chemical or biological exports — should understand the sanctions to avoid compliance exposure, export compliance experts say.

The U.S. State Department’s Bureau of International Security and Nonproliferation said it will move forward with the imposition of a second round of trade sanctions against Russia.