Concerns that Russia may be preparing to seize foreign-flag ships at its ports played a part in the whole country being designated a high-risk area this week by London’s Joint War Committee (JWC).
The JWC has said the current Black Sea and Sea of Azov high-risk areas will be extended to cover all Russian sea areas.
Sources familiar with the decision said the London market is worried that shipping may be the next sector to be caught up in the tit-for-tat economic sanctions war being played out between the West and Russia over its Ukraine invasion.
