The Indian company Gatik Ship Management will lose the certification of 21 ships from the British company Lloyd's Register from June 3, REUTERS reports, citing information from the certification company.
“Lloyd's Register is committed to facilitating compliance with sanctions rules on Russian oil trading. If there is evidence, we will cancel the class of service for any ships that, in the opinion of the relevant authorities, violate international sanctions, ”the statement said.
Lloyd's Register provides services to certify and test the seaworthiness of ships, which is "vital to ensure insurance and entry into ports," Reuters notes. Gatik has 11 other vessels that have received certification from the Indian Register of Shipping (IRClass).
According to the agency, recently Gatik also had to change flags on 36 of its ships, since the International Shipping Register of St. Kitts and Nevis removed its own from them. In total, Gatik operates about 50 tankers, according to BLOOMBERG .
In addition, the company, Bloomberg reported, lost insurance for 34 of its vessels from the American Club, which is part of the International Mutual Insurance Clubs (P&I Clubs), due to sanctions violations. Such insurance is important when ships enter ports and when passing through straits. The source of the agency said that this was due to Gatik's intention to transport oil above the limit price set by the G7 for Russian oil - $ 60 per barrel.
The price ceiling has been in effect since last December. Last February, price limits for Russian oil products also came into effect - $100 per barrel for those traded at a premium to crude oil (diesel) and $45 per barrel for those sold at a discount (fuel oil). If the price is higher than indicated, then companies from the G7 countries cannot provide services for insurance, transportation financing, and so on.
RUSSIA, in response to the introduction by the West of a price ceiling, banned the supply of its oil and oil products to foreign citizens and companies if the contracts "directly or indirectly provide for the use of a price cap mechanism."
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