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U.S. sanctioned “Sevastopol” sold by Singapore Supreme Court for SGD 750,000

22 Jun 2020

The Singapore Supreme Court on Friday (19 June) sold the U.S. sanctioned Russian vessel Sevastopol to cover parking debts incurred by the vessel since 2019.

The proceeds of the sale amount to SGD 750,000 (USD 537,488) and the sum has been paid in Court on Friday (12 June).

Sevastopol was penalised in 2018 by the U.S. for reportedly violating economic sanctions imposed on North Korea and the vessel was also briefly held in South Korea in the same year.

The vessel was purportedly arrested in Singapore in December 2019 over parking debts incurred; and not for violating any trade sanctions.

Any person having a claim against Sevastopol or the proceeds of the sale, on which they intend to contest should accordingly do so within 90 days of the payment, said the Court. 


Photo credit:
Marine Traffic / V. Tonic
Published: 22 June, 2020

 

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