Global Bunker Supplier Peninsula Halts Russia-Related Business

by Ship & Bunker News Team
Friday March 4, 2022

Global bunker supplier and trader Peninsula has stopped all business with Russia as a response to the country's invasion of Ukraine.

The suspension applies to business with Russian ships, ports, companies, suppliers and financial institutions, the company said in a statement on LinkedIn on Friday.

"Peninsula is shocked and deeply saddened by the tragic events unfolding in the Ukraine," the company said in the statement.

"We are aligned with our stakeholders to ensure a unified approach whilst maintaining our stringent standards when it comes to compliance, risk and corporate governance.

"In light of the recent escalation of armed conflict by Russia in Ukraine, Peninsula is going beyond the currently imposed sanctions and is not doing any business with Russian vessels, ports, companies (owned or majority-owned), suppliers and financial institutions.

"The situation continues to evolve rapidly and we are closely monitoring changes as they occur."

The move follows similar decisions by Bunker Holding and its subsidiaries, Monjasa, Fratelli Cosulich and other large bunkering firms. World Fuel Services, one of the largest global bunker suppliers, has yet to comment on the situation.

Ship & Bunker News Team
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