Support for seafarers

The Cyprus Shipping Deputy Ministry (SDM) has collaborated with financial institutions in Cyprus to facilitate the opening of bank accounts for seafarers affected by the war in Ukraine. The Seafarer Workforce Report, published in 2021 by BIMCO and ICS, reports that combined, Ukrainian and Russian seafarers represent 14.5 per cent of the global workforce. As more Russian banks are blocked from international transactions, crewing managers are increasingly unable to make payments. Ukrainian seafarers and their families seeking safety in other states are also unable to access wage payments. To address this, the SDM has facilitated two main payment schemes for seafarers following consultation with local banks and financial institutions in Cyprus.