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Russian shipping firm faces bankruptcy over alleged dealings with North Korea
Vladivostok-based Gudzon Shipping is on the verge of bankruptcy after six of its ships were blacklisted by the US for allegedly engaging in ship-to-ship cargo transfers with a North Korean entity.
The company has denied it committed any sanctions-busting act. Some of the company’s ships have been stranded in South Korea for more than one month while another one is stuck in Nantong, China, unable to pay repair bills to a local yard.
Gudzon officials have sought help from the Russian government to solve the impasse but there is no sign of its fleet being able to trade internationally again soon.