Major Russian shipowner Sovcomflot (SCF Group) said it is carrying on with its activities despite a raft of sanctions unleashed against Russian entities.

The statement by the Moscow shipping giant comes amid talk about how the sanctions by the US and Europe might affect the company.

In a brief statement to TradeWinds, Sovcomflot said: “The company continues its normal business activity and is well positioned to meet its commitments towards its clients and partners and provide safe shipping services.”