{"id":6040,"date":"2024-02-02T11:19:18","date_gmt":"2024-02-02T10:19:18","guid":{"rendered":"https:\/\/www.mordiglia.it\/?page_id=6040"},"modified":"2026-07-30T10:15:03","modified_gmt":"2026-07-30T08:15:03","slug":"sanctions-desk","status":"publish","type":"page","link":"https:\/\/www.mordiglia.it\/it\/sanctions-desk\/","title":{"rendered":"Sanctions Desk"},"content":{"rendered":"\t\t
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Sanctions Desk<\/h1>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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The recent outbreak of international conflicts has triggered an expansion of sanctions regimes, with a significant impact on the shipping industry.<\/p>

Sanctions may target individuals and entities operating in the port and maritime sector, as well as vessels involved in illegal activities. They include import and export bans; restrictions on transport, insurance, and brokerage services; price limitations (e.g. oil price cap) and reporting requirements (e.g. for the sale of oil tankers) for trade of listed goods.<\/p>

Sanctions compliance is not only of utmost importance for all maritime stakeholders, since a sanction breach can have significant legal, financial, and reputational consequences, but also a major challenge considering the constantly changing regulations.<\/p>

Through this Sanctions Desk and thanks to our extensive expertise in shipping, we aim to assist our Clients in complying with the new regulations by providing regular updates and legal analysis on sanctions impacting the shipping industry. Our team is also available to advise maritime operators on the drafting of relevant clauses and to represent them in any disputes regarding sanctions.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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KEY CONTACTS:<\/p>

Pietro Palandri
pietro.palandri@mordiglia.it<\/a><\/p>

Chiara Raggi
chiara.raggi@mordiglia.it<\/a><\/p>

Pietro Sanna
pietro.sanna@mordiglia.it<\/a><\/p>

Camilla Del Re
camilla.delre@mordiglia.it<\/a><\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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21 May 2026<\/div><\/div>
The application of sanctions to assets placed in a trust<\/h5>

Upon request of a preliminary ruling by the Italian Administrative Court of Rome (TAR Lazio) the European Court of Justice (ECJ) issued on 21 May 2026 a judgment in case C-483\/23 regarding the application of sanctions to assets placed in a trust.<\/p>\n

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\nThe Italian authorities had \u201cfrozen\u201d the shares and assets of four companies and their parent company which were placed in a trust governed by the law of Bermuda. It was found that the trust had been established by a listed person, but he as neither the trustee nor the beneficiary of the trust. The question submitted to the ECJ was therefore whether the assets placed in the trust could nevertheless be considered to belong to, or to be controlled by, such listed person.<\/p>\n

Having considered art. 2(1) of Regulation (EU) n. 269\/2024, as amended by Regulation (EU) n. 2022\/330, the ECJ eventually held that such provision must be interpreted as meaning that the funds and economic resources placed in a trust by a listed person must be regarded as belonging to , or being controlled by such person, when he continues to hold power enabling him to use, benefit from or dispose of those funds or economic resources or to have influence over them or over the decisions made by the trustee in respect of those funds and economic resources.<\/p>\n<\/details><\/div>\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t

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23 April 2026<\/div><\/div>
20th Round of EU Sanctions Against Russia<\/h5>

On 23 April 2026, the European Union adopted its 20th package of sanctions against Russia, introducing further restrictions with significant implications (also) for the maritime, energy and oil sectors.<\/p>\n

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\nThe new package is aimed, among other things, at further curbing Russia\u2019s energy revenues and restricting the so-called \u201cshadow fleet\u201d. The measures of particular relevance for maritime operators, shipowners, managers, insurers, brokers and traders include the following.<\/p>\n\n

Article 3n of Regulation (EU) No. 833\/2014, concerning the transport of Russian crude oil and petroleum products to third countries and the related price cap mechanism, has been amended. The exemption which previously allowed the loading, departure from, or transit through Russia of oil or petroleum products originating in a third country has been removed. In addition, the amended provision now lays the legal basis for a possible future decision on the continued application of the price cap derogation. Such decision would be taken by the Council, upon a joint proposal of the High Representative and the Commission, in coordination with the G7 and the Price Cap Coalition. This appears to be a first step towards a possible future prohibition on the provision of maritime transport services in respect of Russian crude oil and petroleum products, even where traded below the applicable price cap.<\/p>\n\n

Article 3q of Regulation (EU) No. 833\/2014, which regulates the sale of oil tankers, has been strengthened. The provision already prohibited the sale of oil tankers to Russian persons or entities, or for use in Russia, and required notification of tanker sales to third countries. The new measures introduce enhanced due diligence obligations and require EU operators to include contractual provisions whereby third-country purchasers undertake to comply with the same restrictions in the event of any subsequent resale or transfer. This amendment is particularly relevant for sale and purchase transactions involving tankers, as sellers will have to assess and document the risk that the vessel may ultimately be used to support Russia\u2019s shadow fleet.<\/p>\n\n

46 additional vessels have been added to the list of sanctioned vessels, bringing the total number of listed vessels to 632. These vessels are subject to port access bans and to restrictions on the provision of a broad range of maritime transport-related services. At the same time, Article 3s has been amended to facilitate the exit of vessels from the shadow fleet through decommissioning or recycling. Competent authorities may now authorise EU operators to provide services to sanctioned vessels where such services are strictly necessary to enable the vessel to proceed to a recycling facility and undergo recycling.<\/p>\n\n

The ports of Murmansk and Tuapse, in Russia, and the Karimun Oil Terminal, in Indonesia, have been added to the list of sanctioned port infrastructure. EU operators are therefore required to carefully assess any transaction, service or contractual arrangement involving those ports or connected infrastructure.<\/p>\n\n

Finally, a new Article 3sa has been introduced, prohibiting the provision of services, including insurance, to certain Russia-related ice-breaker vessels and LNG tanker vessels. The prohibition applies, in particular, where the vessel is registered under the Russian flag, certified by the Russian Maritime Register of Shipping, owned or managed by Russian persons or entities, operating in Russia, or intended for use in Russia. For certain LNG tanker vessels operating in Russia or for use in Russia, but not otherwise falling within the Russian flag, Russian class, ownership or management criteria, the prohibition will apply from 1 January 2027.<\/p>\n\n

In light of the above, maritime operators should review their sanctions compliance procedures, with particular attention to vessel screening, port calls, tanker sale and purchase contracts, insurance coverage and transactions involving Russian oil, petroleum products and LNG. Further regulatory developments should also be closely monitored, especially in relation to the possible introduction of a broader maritime services ban.<\/p>\n<\/details><\/div>\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t

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25 March 2026<\/div><\/div>
Unicredit c. Constituion Aircraft Leasing<\/h5>

UK Supreme Court Confirms Broad Interpretation of the Prohibition on Providing Financial Services \u201cin Connection With\u201d the Supply of Restricted Goods to Russian Entities.<\/p>\n

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On 25 March 2026, the UK Supreme Court delivered its judgement in the sanctions-related case Celestial Aviation Services Ltd and others v UniCredit Bank GmbH, addressing the effects of UK sanctions against Russia on aircraft leasing arrangements and the enforceability of stand-by letters of credit issued in that context.<\/p>\n

The case arose from stand-by letters of credit issued by UniCredit to secure the obligations of Russian airline lessees under aircraft leasing contracts concluded with non-Russian lessors. Following the termination of the leases after the imposition of Russia-related sanctions, the lessors sought payment under the letters of credit. UniCredit refused, arguing that payment would breach Regulation 28(3) of the Russia (Sanctions) (EU Exit) Regulations 2019, which prohibits the provision of funds or financial services \u201cin pursuance of or in connection with\u201d the supply of restricted goods - such as aircraft - to Russian entities.<\/p>\n

While the Commercial Court initially rejected UniCredit\u2019s position, the Court of Appeal reversed that decision. It held that payment under the stand-by letters of credit constituted a prohibited financial service, even though the beneficiaries were non-Russian and non-sanctioned entities and even though the guarantees had been issued before the sanctions entered into force. The Court adopted a literal interpretation of the sanctions regime, emphasizing that Regulation 28 applies broadly and without temporal exemptions, notwithstanding its potentially adverse effects on non-Russian parties. <\/p>\n

On 25 March 2026, the UK Supreme Court upheld the Court of Appeal\u2019s decision. It dismissed the appellants\u2019 principal argument that Regulation 28(3)(c) requires a causal link between the provision of financial services and the prohibited supply of aircraft, stressing that the phrases \u201cin pursuance of\u201d and \u201cin connection with\u201d have distinct meanings. In particular, the Court held that \u201cin connection with\u201d must be interpreted broadly.<\/p>\n

Although the decision undoubtedly affected non-Russian entities, the outcome can nonetheless be seen as consistent with the overall objectives of the sanctions regime, given that payment under the letter of credit would ultimately have relieved - and thus indirectly benefitted - the Russian parties of their obligations.<\/p>\n<\/details><\/div>\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t

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17 March 2026<\/div><\/div>
Easing of US sanctions on Russian oil<\/h5>

Due to severe disruptions in global energy markets resulting from the ongoing conflict involving Iran -including the recent closure of the Strait of Hormuz - on March 12, OFAC issued Russia-related General License 134, \u201cAuthorizing the Delivery and Sale of Crude Oil and Petroleum Products of Russian Federation Origin Loaded on Vessels as of March 12, 2026\u201d.<\/p>\n

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The license authorizes all transactions that are ordinarily incident and necessary to the sale, delivery, or offloading of Russian origin crude oil or petroleum products that were loaded onto any vessel on or before 12:01 a.m. EDT on March 12, 2026. This authorization extends to cargoes produced by sanctioned entities, as well as shipments carried on sanctioned vessels, until 12:01 a.m. EDT on April 11, 2026.\n<\/p>\n\n

Full text of the Licence can be found at the following link: Russia-related General License 134<\/a>\n<\/p>\n<\/details><\/div>\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t

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15 January 2026<\/div><\/div>
Violation of EU restrictive measures: the new penalty regime in Italy<\/h5>

In implementation of Directive (EU) 2024\/1226<\/a>, Legislative Decree No. 211 of 30 December 2025<\/a> was published in the Official Gazette on 9 January 2026 and will enter into force on 24 January 2026.<\/p>\n

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The Legislative Decree introduces profound changes to Italian law on violations of European Union restrictive measures, significantly impacting a wide range of economic operators, including exporters, importers, banks, insurers and financial intermediaries.\n<\/p>\n\n

\n Legislative Decree 211\/2025 incorporates the principle, established at EU level, that the violation of international sanctions adopted by the EU constitutes a 'European offence' within the meaning of Article 83 of the Treaty on the Functioning of the European Union (TFEU).\n The aim is to harmonize criminal sanctions between Member States, eliminating the possibility of 'jurisdictional shopping' in search of the least severe regime.\n<\/p>\n\n

II. New Offences<\/h3>\n\n

\n The Legislative decree 211\/2025 introduces a series of new articles into the Italian Criminal Code, which redesign the penalty framework for violations of restrictive measures.\n<\/p>\n\n

1. Art. 275-bis of the Italian Criminal Code: The Cornerstone of the System<\/h4>\n\n

\n This article punishes anyone who, in violation of an EU restrictive measure, engages in any of the following conduct with imprisonment of 2 to 6 years and a fine of \u20ac25,000 to \u20ac250,000:\n<\/p>\n\n