International
Maersk, MSC and CMA CGM suspend Russian shipments | tidings
Shipping lines say they are suspending most shipments to Russia as the West raises sanctions on the war in Ukraine.
The world’s three largest carriers have suspended non-core shipments to Russia, joining a growing list of companies avoiding Moscow amid Western sanctions over its occupation of Ukraine.
Danish transport giant Maersk, Switzerland-based MSC and Frances CMA CGM all announced on Tuesday that they would no longer receive bookings for goods from Russia and that they were suspending most shipments into the country.
Citing the impact of sanctions, bookings to and from Russia will be temporarily suspended, with the exception of food, medical and humanitarian supplies, Maersk said in a statement.
MSC announced similar measures, saying it would continue to accept and control bookings for the delivery of essential goods.
CMA CGM said its top priorities remain to protect our employees and ensure as much as possible the continuity of your supply chain.
In the interest of security, the group has decided to suspend all bookings to and from Russia today and until further notice, it said in a statement posted on its website.
Container transport companies transport most of the world’s manufactured goods, making them a vital part of the global trading system.
Russia is the eleventh largest economy in the world and the supplier of one-sixth of all goods and movements from Maersk, MSC and CMA CGM mean that Moscow is effectively disconnected from a large part of the globe’s transport capacity.
The West has imposed severe restrictions on Russia to shut down its economy from the global financial system, forcing companies to halt sales, cut ties and make tens of billions of dollars in investments.
The purpose of the sanctions is to isolate Russia politically, financially and economically, German Finance Minister Christian Lindner said on Tuesday.
The measures have already had a massive impact on capital and currency markets, he said after a meeting with G7 club counterparts from rich countries.
Other companies that suspended sales in Russia on Tuesday include Apple, Google, Ford and Harley-Davidson.
Apple said it was deeply concerned about the Russian occupation of Ukraine and announced a pause in sales in Russia and other measures including restricting Apple Pay and removing the ability to download RT News outside Russia.
US payment card companies Visa Inc. and Mastercard Inc. have blocked many Russian financial institutions from their network.
Russian authorities have announced a series of measures designed to curb the ruble’s decline and broader financial markets, including banning remittances abroad and closing the Moscow Stock Exchange.
The ruble has fallen by about 35 percent since last week when Russian President Vladimir Putin began the occupation.
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Sources 2/ https://www.aljazeera.com/news/2022/3/2/maersk-cma-cgm-and-msc-suspend-russian-deliveries The mention sources can contact us to remove/changing this article |
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