Russia’s United Shipbuilding Corp (USC)’s bid to grow as an international commercial shipbuilder has been hit by the latest raft of US sanctions brought against the country following the loss of Malaysia Airlines’ flight MH17 over Ukraine.

The state-backed company, which controls Russia’s shipbuilding industry, has been named in the recently announced US sanctions intended to block the exchange of technology and funding to the country’s energy, defence and banking sectors.

USC