Due to the Russia-Ukraine war, shipping giants including Switzerland-based MSC (Mediterranean Shipping Company), Denmark’s Maersk, Germany’s Hapag-Lloyd, Japan’s Ocean Network Express (ONE) and France’s CMA CGM all announced that they would halt cargo bookings to and from Russia until further notice.

The companies have confirmed that the suspension will not apply to foodstuffs or medical equipment and humanitarian supplies.

Despite the suspension of Russian shipping operations by several shipping companies, the Suez Canal Authority (SCA) recently said that Russian ships’ passing through the Suez Canal would not be affected.

The United States has not asked the Suez Canal administration to ban the passage of Russian ships, said the head of the Suez Canal Authority head Osama Rabie.

"The Suez Canal is a neutral international corridor which is not subject to politics or war. We cannot stop any ship from crossing the canal,” Rabia said.

Asked whether the United States has asked Egypt to ban Russian ships from passing through the Suez Canal, he said "there is no such thing."

The shipping sector is fundamental to international trade in a global economy that is more interconnected than ever. In response to the Russian invasion of Ukraine, the United States, European Union (EU), United Kingdom (U.K.) and many other countries have imposed severe sanctions on Russia and Russian entities.

U.K. Transport Secretary Grant Shapps has told U.K. ports that any Russian flagged, registered, owned, controlled, chartered or operated vessels will be banned from British ports.

"The maritime sector is fundamental to international trade and we must play our part in restricting Russia's economic interests and holding the Russian government to account," Shapps wrote in a letter to U.K. ports.

The government is preparing “further detailed sanctions against Russian shipping,” he added.

Besides the UK, some European Union countries are considering a ban on Russian ships entering the bloc's ports, aiming to tighten sea restrictions after a halt on air traffic, European officials say, a step that would further hamper Russia's commercial shipments.