US President Joe Biden has banned all Russian-affiliated vessels from accessing the country’s ports.
The move comes following Russia’s invasion of Ukraine. The European Commission (EC) implemented similar sanctions earlier this month.
“I hereby report that I have issued a proclamation with respect to the policies and actions of the Government of the Russian Federation to continue the premeditated, unjustified, unprovoked, and brutal war against Ukraine, which constitute a national emergency by reason of a disturbance or threatened disturbance of international relations of the United States,” said the White House in a statement.
“The proclamation prohibits Russian-affiliated vessels from entering into United States ports with limited exceptions for Russian-affiliated vessels used in the transport of source material, special nuclear material, and nuclear byproduct material for which, and for such time as, the Secretary of Energy, in consultation with the Secretary of State and the Secretary of Commerce, determines that no viable source of supply is available that would not require transport by Russian‑affiliated vessels; and for Russian-affiliated vessels requesting only to enter United States ports due to force majeure, solely to allow seafarers of any nationality to disembark or embark for purposes of conducting crew changes, emergency medical care, or for other humanitarian need.”
World trade in March is expected to decline by nearly 3 per cent as a result of the war in Ukraine.
According to the Kiel Institute for the World Economy, the negative consequences originating from the Russian invasion are affecting economies worldwide.
After more than a month of war, Russia’s increasing isolation has led to the suspension of container ships arriving and departing from its ports.
