BRITISH-OWNED TURKISH PORT OPERATOR WAIVES SUPERYACHT FEES AMID SANCTIONS CONCERNS

On 3 April, the FT reported that a port operating company will waive fees for superyachts belonging to Roman Abramovich in Turkey.  Global Ports Holdings is said to be the world’s largest cruise port operator, the co-founder and chairman of which is Turkish, but is a British company.  However, a lawyer warns that merely waiving fees would not necessarily save the company from sanctions risks.

https://www.ft.com/content/0189633e-90cb-4e24-9466-35892466161f

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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