Maersk suspends shipping container deliveries to, from Russia
Maersk has been active in Russia since 1992
Icahn Enterprises founder Carl Icahn argues inflation is the biggest economic problem amid the geopolitical unrest.
Danish shipping company Maersk announced Tuesday that it is suspending most container deliveries to and from Russia in an effort to comply with widespread sanctions against the country for its invasion of Ukraine.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMKBY | A.P. MØLLER-MÆRSK A/S | 8.36 | -0.31 | -3.58% |
"As the stability and safety of our operations is already being directly and indirectly impacted by sanctions, new Maersk bookings within ocean, air and intercontinental rail to and from Russia will be temporarily suspended, with the exception of foodstuffs, medical and humanitarian supplies (bar dual-use items)," the company said in a statement. "This exception is to underline that our company is focusing on social responsibility and making the efforts to support society despite all the complications and uncertainties within the current supply chain to/from Russia."
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The company said it would do its "utmost" to deliver cargo already on the water to its intended destination.
"Consequently, we will still call Russia although we will not accept new bookings unless they belong in the exception categories mentioned above, Maersk added. "However, please expect significant delays as countries such as the Netherlands, Belgium and Germany are holding back vessels en route to Russia in search of restricted commodities, primarily dual-use items."
The move comes after Maersk announced on Friday that it would stop accepting shipping container bookings to and from Ukraine until further notice.
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Maersk emphasized that the security and well-being of its employees remains a top priority and that it has put plans in place to ensure its impacted workers and their families get the support they need. As of Feb. 24, all Maersk employees have been instructed to work from home, away from any conflict areas.
--FILE--A truck transports a container of Maersk unloaded from a container ship on a quay at the Port of Qingdao in Qingdao city, east China's Shandong province, 12 April 2016. (Oriental Image via Reuters Connect / Reuters Photos)
Maersk has been active in Russia since 1992, connecting the country's ports of St. Petersburg, Novorossiysk, Vladivostok, Vostochny and Kaliningrad to key global markets.