A new round of sanctions on Russia threatens to punish the legitimate shipping industry without achieving its strategic goals, according to a key player in the Lloyd’s insurance market.

The European Union is discussing its 11th package of sanctions, which officials said will focus on tackling evasion of existing rules.

Based on evidence since the start of the war in Ukraine, any new measures against shipping are “unlikely to move the strategic dial”, said Neil Roberts, head of marine & aviation at Lloyd’s Market Association, a trade group that provides lobbying and technical services.