On 1 June, the EU Sanctions blog reported that the UK and EU are reported to have agreed a co-ordinated ban on insuring ships carrying Russian oil. The 6th package of EU sanctions on Russia will include a ban on insurance and reinsurance of Russian ships by EU companies.
On 1 June, Hellenic Shipping News carried an article saying that, since the start of the conflict 3 months ago, Windward has carefully analysed trends and unique, proprietary data points. This article looks back on the first 3 months of the Russia-Ukraine conflict to summarise the many effects on the shipping ecosystem and provide you with actionable insights.
On 31 May, the UN Office n Drugs and Crime published a report saying that migrants on their way from Asia to Europe are being forced to work in the construction, agriculture, and hospitality sectors by human traffickers who abuse their irregular status and fear of deportation. Children, often exploited by their own family members, are compelled to commit crimes, while others are sexually exploited online. Sexual exploitation, primarily of women who are trafficked to countries in Western and Southern Europe, remains the most prevalent form of the crime, while cases of labour exploitation are rising.
On 1 June, the European Securities and Markets Authority issued a news release advising that the European Supervisory Authorities (EBA, EIOPA and ESMA) had published a joint report, which provides a comprehensive analysis on the completeness, adequacy and uniformity of the applicable laws and practices on the withdrawal of licence for serious breaches of the rules on AML/CFT.The joint Report advocates for the introduction in all relevant EU sectoral laws of a specific legal ground to revoke licences for serious breaches of AML/CFT rules.