Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

German prosecutors probe ship for possible Russian sanctions breach

Published 03/04/2024, 14:39
Updated 03/04/2024, 19:31
© Reuters.

BERLIN (Reuters) -A cargo ship leaving Russia that made an unscheduled stop at the German port of Rostock is under investigation there for carrying cargo in possible breach of sanctions, German authorities said on Wednesday.

The Atlantic Navigator II, managed by Canada-based CISN and sailing under the Marshall Islands flag, has been detained by German customs. On board are 251 containers of birch wood, which is subject to EU sanctions against Russia, prosecutors said.

"Investigations are under way against the captain of the freighter on initial suspicion of a violation of the Foreign Trade and Payments Act," a spokesperson for the Rostock public prosecutor's office told Reuters.

The Ostsee Zeitung newspaper this week reported that the vessel also has enriched uranium, exempted from EU and US sanctions, in its cargo, which was destined for the United States.

The vessel has been held in Rostock since March 4, after leaving St Petersburg on Feb. 7, according to LSEG data.

The ship had to make an unscheduled stop in the eastern German port due to propeller damage, city authorities said.

CISN said it was working closely with the German authorities to ensure the ship would be permitted to continue on its planned voyage to ports in the United States as soon as possible.

Both the city and customs authorities confirmed that the freighter had been in the port since the beginning of March and that it was being investigated for a possible breach of sanctions.

Both the Rostock port authority and the customs office declined to confirm whether there was uranium, used in nuclear power plants, was onboard.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Uranium is currently exempted from EU and US sanctions imposed on Russia. Wood imports are sanctioned under the EU regulations but not in the United States.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.