BIMCO to Develop Clause to Address Russia Tanker Resale Restrictions

by Ship & Bunker News Team
Friday June 12, 2026

Shipping industry body BIMCO has begun developing a standard clause in response to new EU rules restricting tanker resales to Russia. 

The initiative follows the EU’s 20th sanctions package against Russia, adopted in April, which introduced mandatory due diligence and contractual requirements for EU sellers of tankers, BIMCO said in a statement on its website on Wednesday.

Under the revised sanctions regime, EU sellers must conduct and document a risk assessment covering the possibility of onward transfer to Russia, implement appropriate mitigation measures and notify the relevant competent authority of each sale.

A key feature of the measures is the requirement that tanker sale contracts include a contractual prohibition on resale to Russian entities or use in Russia.

The restriction must also flow through the contractual chain, requiring buyers to include equivalent provisions in any subsequent sale or transfer.

BIMCO said this extends compliance obligations beyond the initial transaction and requires contractual consistency across successive sales.

In response, BIMCO will establish a dedicated subcommittee to develop a Russia Tanker Resale Restrictions Clause for use in memoranda of agreement.

The organisation said the project will be treated as a priority and aims to provide a neutral and commercially balanced solution that reflects regulatory requirements while supporting consistent market adoption.

The EU has sanctioned several vessels linked to the Russian shadow fleet.

Ship & Bunker News Team
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