13th December 2025 – 19th December 2025
LOCAL NEWS
1. Cyprus and France sign strategic partnership agreement
On the 15th December 2025, French President Emmanuel Macron and Cyprus President Nikos Christodoulides signed a strategic partnership agreement after their meeting at the Elysee Palace in Paris.
The deal covers cooperation in defense, the economy, culture, innovation, and education, with a particular emphasis on strengthening political and military coordination on European and international issues, while also extending into key economic and strategic areas with direct relevance for Cyprus-based businesses. .
The talks also addressed the priorities of the Cyprus’s upcoming presidency of the EU Council in the first half of 2026, as well as the war in Ukraine and broader European security concerns.
The Cyprus-France strategic partnership, as outlined by government officials earlier this week, also builds on growing cooperation in defence procurement, maritime security and regional stability in the eastern Mediterranean.
Among the important declarations in the agreement, the following are of note:
- In the maritime sector, promote cooperation within the framework of international and regional fora such as the International Maritime Organization and the International Labour Organization.
- Promote further the increased strategic role of the Mediterranean region, and work jointly in the framework of the new Pact for the Mediterranean to create a more equal euro Mediterranean partnership; fostering synergies in areas such as maritime security.
- Promote cooperation with regard to the implementation of economic sanctions applicable in the maritime sector.
- Work for the reduction of critical external dependencies, notably in energy, net zero technology, health, digital infrastructure and raw materials, by developing competitive resilient, diversified and sustainable value chains across the European Union.
- With the aim of achieving a more competitive Europe promote innovation, research, and technological development as central pillars of European sovereignty; encourage investment and partnerships in emerging technologies, including artificial intelligence, quantum computing, biotechnologies, and cybersecurity.
- Identify sources of sustainable growth in key economic sectors where their countries already enjoy comparative advantages, in order to stimulate quality job creation, attract investment, and enhance Europe's global competitiveness.
- Further develop trade and investment partnerships.
- Work together to strengthen connectivity between Europe, the Middle East and India, as part of the Global Gateway strategy, while acknowledging Cyprus’ strategic role as a bridge between these regions and as the European Union’s Eastern Mediterranean Gateway. Promote regional interconnectivity and strategic integration, cooperate within the IMEC project framework, including through its infrastructures and fostering meaningful partnerships amongst Cypriot and French companies and entities.
President Christodoulides described the signing of the Strategic Partnership Agreement between Cyprus and France as historic. In his statements at the Elysee Palace after his meeting with the President Macron, President Christodoulides said that France is a strategic partner of Cyprus and that the signing of the Strategic Partnership further strengthens the relations between the two countries.
Related Articles:
15122025_Strategic-Partnership-EN.pdf
Cyprus-France deal hailed as boost for business, energy and innovation | Cyprus Mail
Cyprus signs strategic agreements with UAE and France ahead of EU presidency | in-cyprus.com
Cyprus and France forge game-changing alliance in Paris, KNEWS
ΠτΔ: «Ιστορική ημέρα» η υπογραφή της Στρατηγικής Εταιρικής Σχέσης με Γαλλία | Economy Today
INTERNATIONAL NEWS
2. EU sanctions another 41 vessels of Russian shadow fleet, as UK tighten energy sanctions
On Thursday, 18th December 2025, the European Council imposed sanctions on an additional 41 vessels that are part of Russia’s ‘shadow fleet’ of oil tankers and contribute to Russia’s energy revenues, with the adoption of Council Regulation (EU) 2025/2618 of 18 December 2025 . These 41 vessels are added to the list of those subject to a port access bans and broad restrictions on maritime transport services across EU member states, bringing the total of designated vessels to almost 600.
The names of the sanctioned vessels can be found in the Annex of the new Regulation ( Regulation - EU - 2025/2618 - EN - EUR-Lex )
The vessels fall into two primary categories under the sanctions framework. Five ships were designated for their involvement in transporting stolen Ukrainian grain and cultural goods from occupied territories. The remaining 36 vessels were sanctioned for transporting Russian crude oil and petroleum products while engaging in what EU officials describe as “irregular and high-risk shipping practices.”
The above – mentioned vessel designations follow closely on the heels of sanctions imposed earlier this week against nine individuals and entities that facilitate shadow fleet operation, when the EU targeted five businessmen and four shipping companies for their roles in concealing the origin of Russian crude oil and adopted a declaration by the EU and its member states on making full use of the international law of the sea framework relating to threats from the 'shadow fleet' and to the protection of critical undersea infrastructure.
The sanctions carry significant consequences. Designated individuals and entities are subject to asset freezes, with EU citizens and companies prohibited from making funds available to them. Individuals face additional travel bans preventing entry or transit through EU member states.
The European Council has emphasized that “EU remains ready to step up pressure on Russia and its shadow fleet value chain, including by adopting further sanctions”.
As Reuters reported recently, the EU and G7 are considering replacing the Russian oil price-cap regime with a blanket ban on Russia-linked maritime services, including shipping, insurance, crewing, and tanker operations, even for exports to third countries such as India and China. If included in the EU’s next sanctions package in early 2026, this would represent the EU’s most significant escalation of maritime restrictions to date, though it remains unclear whether and how such a ban could be implemented consistently across all G7 jurisdictions.
UK mirrored parts of the EU action and went further, unveiling 24 new sanctions aimed at Russia’s energy sector and associated supply networks. London directly targeted four of Russia’s largest remaining unsanctioned oil producers – Tatneft, Russneft, NNK-Oil and Rusneftegaz Group – which together generate more than $20bn in revenue and account for close to a tenth of Russia’s recent oil exports.
UK foreign secretary Yvette Cooper stressed the coordinated nature of the Western response, saying: “At this critical moment for Ukraine, Europe is stepping up. Together, the UK and our allies are piling the pressure on Putin – going after his oil, gas and shadow fleet – and we will not relent until he abandons his failed war of conquest and gets serious about peace.”
Related Articles:
Regulation - EU - 2025/2618 - EN - EUR-Lex
EU targets 41 additional vessels in Russia's shadow fleet | Reuters
EU Sanctions List Nears 600 Ships as Crackdown on Russia’s Shadow Fleet Expands
EU sanctions another 41 vessels of Russian shadow fleet - EU NEIGHBOURS east
EU sanctions 41 more Russian shadow fleet tankers in latest crackdown | S&P Global
EU sanctions more Russian vessels in ongoing pressure campaign - SAFETY4SEA
EU widens shadow fleet net as UK and US tighten energy sanctions - Splash247
EU Sanctions 41 Shadow Fleet Vessels and Plans Monthly Additions
Full maritime services ban for Russian oil will reshape tanker markets - SAFETY4SEA
3. US senators introduce bill mandating sanctions on Russian oil buyers worldwide, as US readies new Russia sanctions if Putin rejects peace deal
On Tuesday, 16th December 2025, U.S. Senators Dave McCormick, along with Senators Elizabeth Warren, Chris Coons , and Jon Husted, introduced the Decreasing Russia Oil Profits (DROP) Act of 2025 requiring targeted sanctions on anyone, anywhere dealing in Russian oil.
Drawing on recommendations from bipartisan national security experts, the DROP Act aims to fill a key gap in U.S. sanctions posture towards the individuals and companies around the world who import and move Russian-origin oil. The bill would provide for limited exceptions that promote U.S. and Ukrainian interests, such as exceptions for countries that isolate Russian oil proceeds or for importers who pay a per-barrel fee into an account to help Ukraine defend itself.
The bill would require targeted sanctions on purchasers, intermediaries, or anyone else dealing in Russian oil. Targeted sanctions have the effect of shutting out of the U.S. financial system those specific individuals or entities who are responsible for behavior that undermines our national security. But the Administration would be able to choose up to two of four exception frameworks to apply globally:
- Isolating and reducing Russian oil purchases. If a purchasing country agrees to pay Russia into an escrow account that isolates the funds, while significantly reducing its oil purchases from Russia over time, the Administration could choose not to apply sanctions to those facilitating imports to that purchasing country.
- Generating revenue for Ukraine. If purchasers pay a fee into an account for Ukraine for every barrel of Russian oil they buy, the Administration could choose not to apply sanctions on those facilitating such purchases.
- Providing significant military or economic support for Ukraine. If a purchasing country’s government provides significant military or economic support to Ukraine, the Administration could choose not to apply sanctions to those facilitating imports to that purchasing country.
- Temporary port-specific exception. Temporarily, the Administration could choose not to implement mandatory sanctions related to oil exported from certain Russian ports, to ramp up pressure over time as needed.
None of the exceptions would apply for activities tied to above-price cap purchases of Russian crude oil or refined petroleum products, regardless of any tie to a G7 jurisdiction. Therefore, the bill would create a mandatory sanctions criterion for anyone, anywhere who purchases or deals in Russian oil that was purchased above the price cap.
If passed in January, the US president will be required to impose sanctions within 90 days on individuals involved in importing Russian oil. The list will be drawn up by the secretary of the treasury after consultations with the secretary of state."
The new bill arrives as the White House is once again pressing for negotiated settlement to end Russia's war against Ukraine. Trump's envoys, Steve Witkoff and Jared Kushner, held two rounds of talks in Berlin Dec. 14-15 with a Ukrainian team led by President Volodymyr Zelensky.
Bloomberg had reported the U.S. was considering options including targeting vessels in what is known as Russia's shadow fleet of tankers used to transport exported oil, as well as traders who facilitate such transactions.
The new measures could be announced as early as this week, the report said, adding that Treasury Secretary Scott Bessent discussed the move with a group of European ambassadors this week.
"It is explicitly false to conclude any decisions have been made regarding future sanctions against Russia. As we have said for months, all options remain on the table in support of President Trump’s tireless efforts to stop the senseless killing, and to achieving a lasting, durable peace," a U.S. Treasury Department spokesperson said.
Related Articles:
US Lawmakers Escalate Pressure on Moscow With Sweeping Sanctions, Shadow Fleet Crackdown
US senators introduce bipartisan sanctions bill targeting Russian oil profits
US readies new Russia sanctions if Putin rejects peace deal, Bloomberg News reports | Reuters
US Readies New Russia Sanctions If Putin Rejects Peace Deal
Ukraine war: US readies new Russia sanctions if Putin rejects peace deal | South China Morning Post
4. Drone strike on Tanker in Rostov – on – Don kills two seafarers
On Thursday, 18th December 2025, a Ukrainian drone strike hit a tanker docked at the southern Russian port of Rostov-on-Don, killing two crewmembers and setting the vessel ablaze.
Russia has responded with threats of its own. President Vladimir Putin has warned that Moscow would “cut Ukraine off from the sea” and strike tankers from countries supporting Kyiv.
On the 16th December 2025, Arsenio Dominguez, Secretary-General of the International Maritime Organization (IMO), called on all parties involved in the conflict to stop targeting innocent seafarers, port workers and commercial vessels.
Mark Dickinson from the International Transport Workers’ Federation said earlier: “Seafarers are not a weapon of war. No political or military objective justifies endangering civilian crews.”
Related Articles:
Ukrainian drones kill three people in Russia's Rostov region, authorities say | Reuters
Fatal drone strike on tanker in Rostov-on-Don - Splash247
Drone strike kills two seafarers in Black Sea escalating conflict - SAFETY4SEA
ITF condemns Black Sea vessel attacks and calls for protection of seafarers | ITF Seafarers
5. Pollution fines in Turkey for 2026
On the 16th December 2025, the American P&I Club published a Member Alert, informing about the updated 2026 environmental pollution fines in Turkey, including regulations, fine adjustments, and practical recommendations for vessel operators to avoid penalties.
According to the Club, a revised pollution fine tariff schedule will come into effect as of January 1, 2026, for Turkey. In the event of sea pollution, fines may be levied by the Turkish Environmental Protection Agency (EPA) or by local Harbor Masters. For 2026, the Turkish Ministry of Treasury and Finance has announced the annual inflation adjustment applicable to administrative fines for marine pollution. As published in the Official Gazette of 27 November 2025, the inflation adjustment rate for 2026 is set at 25.49%.
Consequently, all pollution fines in Turkey will increase by 25.49% with effect from 1 January 2026, compared to the levels applied in 2025.
The report includes a summary of the 2026 fine schedule which has been separated into four categories.
Related Articles:
12-16-25 - Environmental Pollution Fines in Turkey: an Update
American P&I Club: Key info on upcoming Turkish environmental pollution fines - SAFETY4SEA
Turkey: Updated Marine Pollution Fine Tariff Effective 1 January 2026 | NNPC Marine Insurance
6. Trump orders naval blockade of sanctioned Venezuelan oil tankers
On Tuesday, 16th December 2025, US President Donald Trump announced that he ordered “a total and complete” blockade of all US-sanctioned oil tankers entering and leaving Venezuela. “Venezuela is completely surrounded by the largest Armada ever assembled in the History of South America,” Trump said in a post on his social media platform, Truth Social.
According to Reuters, it is unclear how Trump will impose the move against the sanctioned vessels, and whether he will turn to the Coast Guard to interdict vessels like he did last week. The administration has moved thousands of troops and nearly a dozen warships - including an aircraft carrier - to the region.
In response to the recent US actions, Venezuela rejected Trump’s order of a blockade as a “grotesque threat” and accused Washington of seeking to steal its resources.
Furthermore, Venezuela’s United Nations representative, Samuel Moncada, delivered a letter to the president of the UN Security Council (UNSC) “formally denouncing” the US seizure of Venezuela’s Skipper oil tanker last week and the “kidnapping” of its crew.
On Wednesday, 17th December 2025, the Russian Foreign Ministry said that tensions around Venezuela could have unpredictable consequences for the entire West, Russian state news agency TASS reported.
“This is an act of state piracy carried out through the use of military force, which constitutes a blatant theft of assets that do not belong to the United States of America, but are part of the legitimate international trade of a member state of the United Nations,” the letter stated.
US Congressman Joaquin Castro, a Democrat representing Texas, said Trump’s blockade was “unquestionably an act of war”. Castro added that US lawmakers will have an opportunity on Thursday to vote on a resolution “directing the President to end hostilities with Venezuela”.
Reuters reports that the seizure has left more than 11 million barrels of crude stranded on other vessels in Venezuelan waters and has prompted some tanker owners to reverse course to avoid potential complications, amid increased U.S. naval patrols in the Caribbean Sea.
Oil market participants said prices were rising in anticipation of a potential reduction in Venezuelan exports, although they were still waiting to see how Trump’s blockade would be enforced and whether it would extend to include non-sanctioned vessels
Related Articles:
Trump orders 'blockade' of sanctioned oil tankers leaving, entering Venezuela | Reuters
Trump orders naval blockade of sanctioned Venezuelan oil tankers | Donald Trump News | Al Jazeera
Venezuela denounces Trump's order for ship blockade as 'warmongering threats'
A look at the US military's unusually large force near Venezuela - ABC News
Tankers make u-turns after US seize of vessel transporting Venezuelan oil - SAFETY4SEA
7. European shipping is ‘cornerstone’ of security, says ECSA new leader
Following our last week’s report on the results of the ECSA elections, commenting on his election, new ECSA President Mikki Koskinen referred to the organisation’s long-standing role, mentioning that over the past six decades, the ECSA has evolved into an indispensable strategic partner to the European institutions, consistently championing policies that strengthen the competitiveness of European shipping while driving sustainability, innovation and the industry’s energy transition.
“Today’s global challenges have made the strategic role of European shipping more important than ever,” he said, adding that “European shipping is a cornerstone of Europe’s food, energy and supply chain security”.
Looking ahead, he warned that the maritime sector faces its most profound transformation yet, citing the energy transition of shipping, geopolitical uncertainties and rising protectionism. These challenges, he said, demand bold leadership and collective action. “I am confident that through our upcoming work, ECSA will be defined by the same vision and determination,” he added, stressing that the organisation must always aim for a unified and strong voice. We need all hands on deck,” he said, noting that “we shouldn’t forget that we cannot have a secure Europe without a competitive shipping”.
Nikolas Veniamis, newly elected Vice-President of ECSA, also pointed to the sector’s strategic importance, saying ECSA represents a sector which is critical to Europe’s prosperity.
With 76 per cent of the EU’s external trade being carried by sea, he said European shipping is a strategic asset for Europe’s security and prosperity.
At the same time, Mr. Veniamis underlined that shipping is a global industry, adding that it is now more important than ever to ensure European shipping remains globally competitive.
To achieve this, he said, it is essential to continue the constructive dialogue and cooperation with EU policymakers and stakeholders.
“In my new position as Vice-President, I look forward to working with Mikki Koskinen, ECSA members and the team as we strive to leverage the potential of European shipping for Europe,” he added.
Related Articles:
European shipping is 'cornerstone' of security, says new leader | Cyprus Mail
Finnish shipping executive Mikki Koskinen to lead ECSA from 2026 - Splash247
8. European Parliament reaches final agreement on CSRD and CSDDD
On Tuesday, 16th December 2025, the Plenary of the European Parliament reached its final agreement altering and simplifying the scope and requirements of the European Union’s corporate sustainability reporting laws, namely the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD), forming part of the Omnibus I package.
According to ECSA, the key elements of the agreement are the following:
- For CSRD:
- Sustainability reporting will be required from companies with over 1,000 employees and a net annual turnover of over €450 million.
- Sector-specific reporting will become voluntary.
- Smaller companies with fewer than 1,000 employees will not have to provide information to their bigger business partners beyond what is included in the voluntary reporting standards. To facilitate compliance, the Commission will establish a digital portal with access to templates and guidelines on EU and national reporting requirements.
- For CSDDD:
- Only large corporations with more than 5,000 employees and a net annual turnover of over €1.5 billion have to carry out due diligence.
- Firms will have to carry out scoping exercises to identify risks in their chain of activities and they should only ask for information from business partners with fewer than 5,000 employees when the information for in-depth assessment cannot be obtained another way.
- Due diligence rules will apply from July 2029 for all businesses within its scope.
- Climate Transition Plans are no longer required.
Jörgen Warborn, a member of the European People’s Party, said in the release that Parliament’s approval of the deal represents “an important first step in the ongoing efforts to simplify EU rules.”
The agreement would also alter the compliance thresholds for companies based outside of the European Union. The CRSD will apply to non-EU entities that generate over $523 million in revenue in the EU, as well as any subsidiary or branches of the company that generate over 200 million euros ($253 million) of revenue in the bloc. Non-EU entities that generate more than $1.7 billion in revenue in the bloc will be subject to the CSDDD under the deal.
According to experts, the agreement reached materially eases CSRD reporting by narrowing content requirements and sharpening the focus on material risks, while at the same time introducing interpretive uncertainty and the potential for member state divergence.
The CS3D is substantially recalibrated—narrowing scope, replacing prescriptive, across-the-board duties with a risk-based, in-depth assessment using reasonably available information, while dropping a mandatory climate transition plan.
In practice, companies will face a leaner, more prioritization-driven due-diligence regime, but also new coordination challenges with CSRD’s value-chain caps and forthcoming ESRS revisions, particularly where data gaps, confidentiality protections, and assurance expectations intersect.
The final text will now require formal approval by the Council of the EU. Once ratified by the Council, the directive will enter into force twenty days after its publication in the Official Journal.
Related Articles:
EU Parliament approves pact to alter sustainability reporting laws | ESG Dive
EU Omnibus: changes to CSRD and CSDD under Omnibus I reach the finish line: video, Sara Feijao
Agreement on the CSRD/CS3D Omnibus Package: key changes and implications
9. US TREASURY REPORT
The US Treasury Report for all actions reported is hereby attached.
Related Article:
Attachment 1: US Treasury Report for week 13/12/2025-19/12/2025
10. PIRACY REPORT
The Piracy Report for all actions reported is hereby attached.
Related Article:
Attachment 2: 19/12/2025 - Worldwide Threat to Shipping (WTS) Report, for the period between 19 November 2025 – 17 December 2025
Nothing important to report from the ILO and the House of Representatives.