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The Chokehold on Russia’s Global Trade Is Tightening

The stranglehold on Russia’s trade with the global economy is tightening, with almost half the world’s container shipping capacity halting service to the country.

In the U.K., Transport Secretary Grant Shapps told domestic ports not to provide access to Russian ships, as Britain moved to further expand its sanctions against Vladimir Putin’s regime in the wake of his invasion of Ukraine. (Almost 200,000 Russians work on the world’s merchant ships, accounting for about 11% of all seafarers, according to data cited by the International Chamber of Shipping.)