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Unit OT 18-35, Level 18, Central Park Towers, Dubai International Financial Centre, Dubai, P.O. Box 18006, United Arab Emirates
16200 Central Green Blvd
GAC Regional Office, Asia Pacific 78 Shenton Way, #29-01
Group Vice President, Asia Pacific & Indian Subcontinent
Unit OT 18-35, Level 18, Central Park Towers, Dubai International Financial Centre, Dubai, P.O. Box 18006, United Arab Emirates
Unit OT 18-35, Level 18, Central Park Towers, Dubai International Financial Centre, Dubai, P.O. Box 18006, United Arab Emirates
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04 Mar 2022 / Rotterdam, Netherlands
The conflict in Ukraine has prompted the European Union and other bodies to impose a number of sanctions on Russia. The extensive import of energy (crude oil, oil products, LNG, coal) is not (yet) affected by sanctions, but the export and transhipment of containers in particular suffers from the uncertainty caused by the conflict and the sanctions.
Of the roughly 470 million tons transshipped through the port of Rotterdam, 62 million tons are oriented towards Russia (13%). Large amounts of energy carriers are imported from Russia via the port of Rotterdam. Currently this comes to roughly 30% of Russian crude oil, 25% of LNG, and 20% of oil products and coal. Russia exports products such as steel, copper, aluminium and nickel via Rotterdam. This is not yet covered by the trade restrictions announced by the European Union.
It is currently unknown what the developments in Ukraine will mean for these flows in the coming period…
…The uncertainty (what exactly is covered by the sanctions, how quickly will Customs release containers for export, how is the conflict developing, how big are the payment risks etc.) means that various container terminals and shipping companies have decided not to accept or handle any containers with destination Russia at the moment…
…The Rotterdam Port Authority has not independently drafted any policies of its own in response to the conflict in Ukraine. Nor does the Port Authority have the authority to do something like impose restrictions on businesses. This is the responsibility of the Dutch government. The Port Authority supports the policies of the Dutch and European authorities. International rule of law and the right to self-determination of countries are essential values and therefore not open to question.
(For information about operations in Rotterdam, contact GAC Netherlands at [email protected]. Media enquiries should be directed to [email protected].)
Source: Extract from notice on Port of Rotterdam website (www.portofrotterdam.com) dated 2 March 2022