Russia to Establish New Register of Ships Owned by Foreign Companies
On August 3, 2018 the Russian President signed the Federal Law which provides for establishing effective January 31, 2019 of the Russian Open Register of Ships to register ships that are owned not only by Russian companies and individuals but by foreign ones as well. Taking into account that the right to fly the Russian flag was previously granted only to those ships that were owned or bareboat chartered by Russian entities, the amendments constitute a step that is totally unprecedented for the State.
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