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UK sanctions against Fesco will not affect its operations — company

On Friday, the UK announced the imposition of sanctions against 86 individuals and companies associated with Russia and operating in energy, metallurgy, banking, military-industrial and other sectors

MOSCOW, May 19. /TASS/. The sanctions imposed by the UK on Friday against the Russian shipping company Fesco will not affect its operations, the company’s press service told TASS on Friday.

"The sanctions against the Fesco transport group announced today by the UK will not affect the group’s operations. The restrictions were in effect before, the company is operating in its usual mode," the press service said.

At 10:00 Moscow time, the price of ordinary shares of the Far Eastern Shipping Company (Fesco, the parent company of the Fesco group) decreased by 2.11%, to 47.78 rubles per share on the Moscow Exchange.

At 13:48 Moscow time, the company's shares slowed down the decline and traded at a price of 47.91 rubles per share (-1.84%).

On Friday, the UK announced the imposition of sanctions against 86 individuals and companies associated with Russia and operating in energy, metallurgy, banking, military-industrial and other sectors. The entities on the list include six large shipping companies allegedly linked to Russia, such as Pawell Shipping Co, Volga Shipping Company, Sovfracht, Fesco Transport Group, M-Leasing, MG-Flot , SK-South, Sun Ship Management.