Tradewind Voyages has canceled all sailings on its lone ship, the Golden Horizon, through October 2022 as it pursues a restructuring, according to the U.K.-based cruise line.
Tradewind said it is realigning its business and financing structure due to European Union sanctions on lender VTB German, a credit bank based in Russia.
Guests will be issued a full refund from the line's trust account, Tradewind said.
The decision comes a month after Tradewind suspended new bookings for the Golden Horizon, a 140-cabin ship that Tradewind calls the world's largest square-rigged sailing vessel.