Sanctions begin to sting Russian trade

Sanctions taken out against Russia in retaliation for the invasion of Ukraine are beginning to hurt even businesses which have not been sanctioned.

Many major shipping lines and logistics companies have now suspended all services to Russia.

The companies are not under any obligation to suspend these services provided they aren't dealing with sanctioned companies. However, many have chosen to do so for a combination for practical and moral reasons.

Hapag-Lloyd, ONE, Maersk, MSC, and CMA CGM
are among those who have suspended services.

The disconnection of Russian banks from the SWIFT payment system will also damaging Russian trade as even unsanctioned businesses will struggle to make and receive essential payments.

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