Mikhail Mishustin, Russia’s Prime Minister, reportedly said on Wednesday that the government is planning to retaliate against those nations that ban their vessels from entering their ports. Mishustin said this during a governmental meeting, wherein he also revealed steps Russia is undertaking to safeguard its domestic economy against international sanctions, per a report from Reuters.
He added that the government is also “closely monitoring” prices of food, especially bread. On Tuesday, Putin signed an order that banned the export of certain raw materials and goods.
PM Mishustin did not, however, specify how the government would be retaliating. But Putin mentioned in the recent past that the West’s unending support toward Ukraine by providing supplies to the country and introducing sanctions is akin to declaring war.
Mishustin’s statement comes as approximately 60,000 sailors from both Ukraine and Russia continue being stranded at ports. As Russia’s vessels, ships are no longer permitted into a majority of Western ports, the crew members are in limbo — unable to collect or deliver cargo. Many were incapable of securing travel back home or collecting their salaries owing to the sanctions.
More than 10% of the world’s shipping workforce comes from Russia — a factor that may result in extended labor shortages and supply chain delays if Russia’s sailors are forced to head home.
The UK banned Russia’s vessels from entering ports last week. The US and EU are also contemplating such a ban. Biden declared a ban on Russia’s oil imports on Tuesday.
Shipping companies have taken similar measures. The three largest shipping firms of the world announced that they would no longer be calling on Russia’s ports. The announcements took place last week.
If sanctions on Russia’s vessels keep continuing, the country could easily find itself cut off from trade with a majority of the world outside Asian shipping majors.
Shipping News You Would Like:
The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Latest Shipping News You Would Like:
Get the Latest Maritime News Delivered to Your Inbox!
Our free, fast, and fun newsletter on the global maritime industry, delivered everyday.