Cyprus is to start removing Russian-classed vessels from its flag, as the island joins in efforts to broaden Moscows isolation from the world.
The Cyprus flag registry is reviewing and will likely remove all Russian-classed ships in the next 48 hours, Deputy Shipping Minister Vassilios Demetriades told Lloyd’s List on Monday.
The ships in question have been certified to sail by the Russian authorities. The Russian Maritime Register of Shipping (RS Class) was added to the EU’s financial-sanctions list last week.
Demetriades said the registry had been closely following developments over the weekend, as the International Association of Classification Societies (Iacs) expelled the Russian Maritime Register of Shipping
He said Cyprus has sought clarifications from the European Commission.
“We have approached the [EUROPEAN COMMISSION] with a set of questions that include ‘what are the next steps to be taken’, and based on the clarifications we receive, we will act accordingly,” he told Lloyd’s.
“We want to do something as soon as possible… we are just checking whether the EC are issuing any guidelines so we can have a harmonised approach. We are ready to inform all the ships and companies affected (in the Cyprus registry), but we are waiting to see whether there will be any EC guidelines.”
According to Lloyd’s List Intelligence, Cyprus currently flags 22 vessels over 10,000 dwt (dead weight tonnage) classed by the Russian Maritime Register of Shipping mostly liquefied natural gas carriers and crude oil tankers.
The Cyprus flag is currently only considering removing vessels classed by the Russian Maritime Register of Shipping, rather than the wider fleet of Russian owned or controlled vessels.
There are 463 internationally trading Russian-affiliated ships, totalling 27.2m dwt, according to data analysed by Lloyd’s List from Lloyd’s List Intelligence.
The Iacs expulsion comes in the wake of the EU’s move in the past week to add the Russia Maritime Register of Shipping to the list of state-owned enterprises subject to financial and banking restrictions.
Lloyd’s said “the reputational risk of doing business with Russia is also seeing widespread self-sanctioning throughout the maritime sector, as service providers seek to withdraw from trade and business with affiliated companies.
“If Cyprus does remove Russian-linked vessels the move will likely spur action from other major flag registries continuing to offer services to Russian controlled vessels.”
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