financetom
Business
financetom
/
Business
/
Russia's Sovcomflot says new U.S. sanctions create operational difficulties
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Russia's Sovcomflot says new U.S. sanctions create operational difficulties
Jan 13, 2025 11:50 PM

MOSCOW, Jan 14 (Reuters) - Russia's leading tanker

group, Sovcomflot, said on Tuesday that new U.S.

sanctions would create additional operational difficulties and

accused the West of undermining the global system of merchant

shipping.

"The company's vessels do not belong to the 'shadow

fleet'", Sovcomflot said.

"The sanctions against Sovcomflot are not motivated by

violations on the part of the company and have no legal basis,

they are motivated solely by the political interests of

individual countries, including the United States."

Sovcomflot is the largest shipping company in Russia,

and a major tanker operator.

"The introduction of new sanctions against Sovcomflot

vessels creates additional operational difficulties," it said.

"Sovcomflot continues to work systematically to minimise the

negative impact of the sanctions on its operations. At the same

time, the company will continue to adhere to high standards of

safety and quality of maritime operations and comply with all

applicable laws and requirements," it said.

U.S. President Joe Biden's administration imposed its

broadest package of sanctions so far targeting Russia's oil and

gas revenues on Friday.

The U.S. Treasury identified 69 Sovcomflot vessels -

including 54 oil and product tankers and four liquefied natural

gas (LNG) tankers - that are blocked.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Albertsons Prices $600 Million Debt Offering
Albertsons Prices $600 Million Debt Offering
Feb 19, 2025
05:29 PM EST, 02/19/2025 (MT Newswires) -- Albertsons ( ACI ) said late Wednesday it priced a $600 million private debt offering. The debt will be raised via 6.250% senior notes due 2033. The offering is expected to close by March 11, the company said. Funds raised will be used to redeem the company's outstanding $600 million 7.500% senior notes...
Pan American Silver Swings to a Fourth-quarter Profit as Revenue Rises; 2025 Production Outlook Issued
Pan American Silver Swings to a Fourth-quarter Profit as Revenue Rises; 2025 Production Outlook Issued
Feb 19, 2025
05:30 PM EST, 02/19/2025 (MT Newswires) -- Pan American Silver ( PAAS ) slipped 1.2% in after-hour New York trading after the company on Wednesday said swung to a fourth-quarter profit on higher revenue. The company's adjusted earnings, excluding most one-time items, stood at US$126.9 million, or US$0.35 per share, compared with a loss of US$16.3 million, or US$0.04 per...
Top potash producer Nutrien misses fourth-quarter profit estimates
Top potash producer Nutrien misses fourth-quarter profit estimates
Feb 19, 2025
Feb 19 (Reuters) - Nutrien ( NTR ) fell short of Wall Street expectations for fourth-quarter profit on Wednesday, as the top potash producer struggled with lower sales in its crop nutrients segment. The Saskatoon, Canada-based firm posted an adjusted profit of 31 cents per share for the three months ended December 31, compared with the analysts' average estimate of...
Enovix Q4 Non-GAAP Loss Narrows, Revenue Rises; Q1 Sales Outlook Issued; Shares Drop After Hours
Enovix Q4 Non-GAAP Loss Narrows, Revenue Rises; Q1 Sales Outlook Issued; Shares Drop After Hours
Feb 19, 2025
05:30 PM EST, 02/19/2025 (MT Newswires) -- Enovix ( ENVX ) reported a fiscal Q4 non-GAAP loss late Wednesday of $0.11 per diluted share, compared with a $0.28 loss a year earlier. Analysts polled by FactSet expected a loss of $0.19. Revenue for the quarter that ended Dec. 29 was $9.7 million, up from $7.4 million a year earlier. Analysts...
Copyright 2023-2026 - www.financetom.com All Rights Reserved