Tradewind Voyages has said it is now pausing its programme for the next 13 months.

The company said it is still working through a financial restructure after sanctions were imposed on its Russian-based financier earlier this year.

A statement on the company’s website said: “Tradewind Voyages continues to realign its business and financing structure as a result of European Sanctions on the major credit bank VTB Germany, which is a Russian based bank.

“Unfortunately, at this time we are announcing the cancellation of voyages onboard Golden Horizon till October 2023.

“We have taken the difficult decision to cancel all our current voyages till October 2023, as we work through the company financial restructure.”

The latest announcement comes a month after Tradewind said it was cancelling cruises until October 2022.

It added the decision ‘has not been taken lightly’.

Tradewind said affected customers will be refunded through its trust account.

“We continue to work with our trust account during this time to ensure a smooth and timely process is in place for guest refunds,” the statement added.

Last winter, Tradewind was forced to cancel Golden Horizon’s first Caribbean season.

The ship was showcased to UK agents last summer, but it was then temporarily arrested at Dover after it was apparently caught up in a financial dispute between the shipyard and it’s original intended owners Star Clippers.