Posted on October 27, 2025
In recent weeks, Royal IHC has been approached by various international media outlets regarding deliveries made by its British subsidiary, IHC FHP Ltd, to the Cypriot company Mostrello Commercial Ltd between 2017 and 2019.
Royal IHC confirms that these transactions were conducted in accordance with the international laws and regulations in force at the time. The deliveries involved civil maritime technology and were subject to Royal IHC’s strict due diligence process applied to every export.
Careful procedures
Royal IHC’s due diligence process includes an assessment of the parties involved, the destination, the nature of the products, and their intended use. The screening did not yield any adverse findings or irregularities, and Mostrello was not on any sanctions list. The transactions met all requirements under the at that time applicable regulations. In response to media inquiries, Royal IHC has re-examined the transactions with the help of external advisors, which did not lead to different conclusions.
Proactive approach
In 2021, Royal IHC proactively placed Mostrello on its internal blacklist after receiving a signal from the UK authorities that future deliveries to Mostrello would require an export licence. This signal came a year after our last delivery. We then decided ourselves not to make any new deliveries, out of caution and in accordance with our integrity principles.
Continuous improvement
Since then, geopolitical dynamics have shifted, and regulations continue to evolve. In parallel, and to remain compliant with applicable export restrictions, Royal IHC continuously updates its export control and compliance processes.
