The World Shipping Council (WSC), in its recommendations for improving European regulation of the shipping industry, has recommended that the European Commission tighten control over compliance with sanctions.
In the recommendations, the World Shipping Council called for improvement of sanctions compliance through collaboration, focusing on the practical challenges of enforcing product-specific restrictions and the necessity of targeted and effective compliance measures, the CFTS portal reports, citing the publication PortNews.
According to the World Shipping Council, its members are committed to achieving compliance with the sanctions imposed on Russia over its aggression against Ukraine. It stressed that closer cooperation with the European Commission is essential for an efficient compliance process, maintaining the integrity and security of maritime supply chains.
The World Shipping Council represents the global liner shipping industry, working for sustainable, safe, and secure maritime trade. WSC members operate high-capacity container and vehicle carrying vessels. They account for over 90% of global liner shipping capacity, transporting 90% of the world's containerized trade and 60% of its trade in vehicles. Within the European Union, they enable trade amounting to EUR 1.7 trillion worth of EU imports and exports.
Recently, the European Union announced that its 14th package of sanctions against Russia is likely to include new restrictions on Russia in the maritime sector.
Meanwhile, Russian ports increased exports by 3% in the first quarter of 2024.
