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ARTICLE · 16 MARCH 2022

Executive Order Targeting Russian Energy Sector Has Immediate Effect On Shipping Industry

Holland & Knight
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In the past week, the White House has launched additional salvos of sanctions against the Russian Federation in response to its continued efforts to undermine the sovereignty and territorial integrity of Ukraine.

United StatesEnergy and Natural Resources
Sean Pribyl
Sean Pribyl
Jonathan Epstein
Jonathan Epstein
Christopher Nolan
Christopher Nolan
Gerald A. Morrissey III
Gerald A. Morrissey III
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Highlights

  • The White House has launched additional salvos of sanctions against the Russian Federation in response to its continued efforts to undermine the sovereignty and territorial integrity of Ukraine.
  • President Joe Biden's Executive Order (E.O.) targeting the Russian energy sector places prohibitions or restrictions on certain energy-related transactions and imposes primary restrictions that have a far-reaching impact on the energy and marine sectors.
  • Energy and shipping stakeholders should undertake a close review of their current operations, charter parties and supply contracts to assess the extent to which their commercial operations are affected by the new E.O.

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