 "Ukraine crisis: Trade to Russia, CIS nations impacted, says govt")
Trade to Russia and the Commonwealth of Independent States (CIS) countries has been affected due to the Ukraine crisis and shipping lines are not accepting goods for Russian ports, Parliament was informed on Friday.
In a written reply in the Lok Sabha, Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal said containers bound for Ukraine and Russia are lying at different transhipment ports.
Sonowal further said payments have been affected due to blockage of SWIFT in Russia and insurance cover has been withdrawn.
Russia started its military offensive against Ukraine on February 24. Western nations, including the US, have imposed major economic and other sanctions on Moscow.
On steps taken to protect Indian shipping companies from the adverse impact of the crisis, he said shipping lines have been requested to explore alternative routes for CIS and Russian cargo.
Meetings are being held at regular intervals with all stakeholders to review the situation, he added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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