Industry Majors Halt Business With Russia


Global marine fuel supplier Peninsula and Engineering company Wärtsilä has suspended business with Russian vessels, ports, companies (owned or majority-owned), suppliers and financial institutions, reports Ship&Bunker.

Peninsula suspends Russian business

The company said: ‘Peninsula is shocked and deeply saddened by the tragic events unfolding in…Ukraine. We are aligned with our stakeholders to ensure a unified approach whilst maintaining our stringent standards when it comes to compliance, risk and corporate governance.’

The company said it was confident that the decision to suspend Russian-related business ‘is the right thing to do’ and in the best interest of its customers, stakeholders and employees.

The situation continues to evolve rapidly and we are closely monitoring changes as they occur.’

Wärtsilä halts sales to Russia

Engineering company Wärtsilä has halted sales to Russia as a response to the war in Ukraine. The firm will comply with all sanctions imposed on the country and has suspended deliveries to Russia, it said in a LinkedIn post.

Wärtsilä is shocked by the war in Ukraine and we condemn Russia’s invasion of this sovereign nation,” it said in the statement. “Our hearts and minds are with the people suffering and fleeing their homes. We have suspended all deliveries to Russia and are committed to complying with all the sanctions currently being implemented.”

The move may make it harder for Russian vessels to carry out engine maintenance, as well as stopping scrubber installations and servicing.

As previously reported, Bunker Holding and Monjasa have already announced similar measures.

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Source: Ship&Bunker


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