Russia's invasion of Ukraine has thrown commodity markets into turmoil. File Image / Pixabay
Marine fuels conglomerate Bunker Holding and its subsidiaries have suspended all trade with Russian counterparties in response to the war in Ukraine.
The ban applies to all Russian companies, including both state-operated and private firms, as well as companies with links, ties or affiliation to Russian ownership, a representative told Ship & Bunker on Wednesday.
The firm has also suspended all trading at Russian and Ukrainian ports.
"As a result of the tragic situation in Ukraine, our risk and compliance department remain vigilant in upholding all possible sanctions from the EU and USA against Russian interests," the representative said.
"We are aware of the complications and inconveniences such a blanket ban imposes on clients and counterparties, but in these dire times we feel the need to act swiftly and decisively."