International bunkering firm Peninsula on Saturday (5 March) issued a statement indicating it will not be conducting business operations with Russian entities due to the current Russo-Ukrainian war:
Peninsula is shocked and deeply saddened by the tragic events unfolding in Ukraine. 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 business with Russian vessels, ports, companies (owned or majority-owned), suppliers and financial institutions.
As an organisation we are confident that the above is the right thing to do and is in the best interest of our customers, stakeholders and employees. The situation continues to evolve rapidly and we are closely monitoring changes as they occur.
We are also looking at how Peninsula can support the wider humanitarian effort in the region. Our thoughts are with all those affected at this extremely difficult time.
Thank you for your continued support.
Photo credit: Peninsula
Published: 7 March, 2022
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