A cargo ship named Swem has been detained in the port of Kotka due to EU sanctions once morest Russia, according to local media reports. This is reportedly the first time EU sanctions have caused such a disruption to cargo movement in a Finnish port. The vessel is currently waiting outside the port for permission to export its delayed cargo. The Finnish Ministry of Foreign Affairs is investigating the issue and has found that the shipment includes fertilizers, likely belonging to an individual on the EU sanctions list. Assets must be frozen if they are found to belong to a sanctioned individual. The cargo may be able to continue its journey following obtaining permission, and potentially missing the cargo might be detrimental to food production. The batch of fertilizer is unconfirmed to be 20,000 tons, with a potential value of 10-12 million euros according to current prices on the world market.
Moscow. March 22. INTERFAX.RU – The Russian cargo ship Swem has been detained in the port of Kotka due to EU sanctions once morest Russia, local media reported on Wednesday.
“This is the first time that EU sanctions have prevented the movement of cargo in a port in Finland,” said Kimmo Naski, chief executive of the port of Hamina-Kotka.
Currently, the vessel is outside the port, awaiting permission to export the delayed cargo from the country. The Finnish Ministry of Foreign Affairs, which is investigating the matter, was informed regarding the transport of fertilizers last week.
“In cooperation with the authorities, we have discovered that the shipment includes fertilizer, likely belonging to an individual on the EU sanctions list. According to EU rules, assets must be frozen if found,” said Pia Sarivaara, head of the sanctions department at the Foreign Ministry.
According to her, most likely, the cargo will be able to continue its journey following obtaining permission. She explained that the cargo can be missed if it is sent to a third country and is necessary to ensure food production.
According to unconfirmed information, the batch of delayed fertilizers is 20,000 tons, its value at current prices on the world market might be regarding 10-12 million euros.
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The detention of the Russian cargo ship Swem in the Finnish port of Kotka highlights the growing impact of EU sanctions on Russia. The delay of 20,000 tons of fertilizers, worth an estimated 10-12 million euros, marks the first time that EU sanctions have had a direct effect on cargo movement in a Finnish port. While the Finnish Ministry of Foreign Affairs investigates the matter, it is likely that the cargo will eventually be able to continue its journey under specific conditions. As sanctions between Russia and the EU continue, the impact on trade and international relations remains a crucial issue to watch.