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UK sanctions four companies linked to 82 tankers in Russian oil trades

Action against United Arab Emirates companies targets Russian government-controlled Sovcomflot tankers plus further ‘dark fleet’ sanctions-circumventing tankers

Sanctions are the most sweeping imposed by any Western government since bans on Russian crude and petroleum shipping were imposed a year ago

THE UK government has sanctioned four Emirati shipmanagers linked to 82 tankers plying Russian oil trades, including 61 owned by Sovcomflot, and a further 21 that are part of the elderly, anonymously owned “dark fleet”.

Oil Tankers (SCF) Management, a Dubai subsidiary of Russia-controlled Sovcomflot, as well as K&O Shipmanagement FZERadiating World Shipping Services LLC and Star Voyages Shipping Services were among 46 companies named for “propping up Russia’s war machine”.

The netting of four shipmanagers linked to 82 tankers is the most sweeping enforcement so far against Russia’s oil and shipping network since Western sanctions were imposed a year ago.

Oil Tankers (SCF) Management is the shipmanager for 61 tankers owned by Sovcomflot. In July, Sovcomflot transferred management of the vessels to the entity. They were earlier transferred to a different entity from Cyprus.

Sanctions imposed on the three other companies, for whom the beneficial owner of all related tankers is unknown, is the strongest signal yet that Western governments are prepared to tackle the fleet of anonymously owned, elderly tankers circumventing Western sanctions on Russia.

Dubai-based Radiating World Shipping Services and Star Voyages Shipping Services LCC are linked to an ownership cluster of 17 tankers, all flagged in the Cook Islands.

The nine aframaxes, three suezmax tankers and a further five product tankers have an average age of 18 years. They were purchased over 2022 and 2023 and placed under the two companies management for Russian trading. The beneficial owner is unknown.

There are four tankers linked to K&O Shipmanagement but the company appears to have ceased management, potentially escaping regulators.

All four tankers remain Panama-flagged, but shipmanagement transferred to China-based Prominent Shipmangement Ltd between July and October, along with another two bulk carriers unrelated to Russian trades.

The last vessel, Valour (IMO: 9832559) was the last to transfer, on October 25, according to shipping databases. An IMO company number issued for K&O Shipmangement is no longer valid, according to its Global Integrated Shipping Information Systems database.

The US Office of Foreign Assets control has sanctioned the registered owner of eight tankers over seven weeks, including six owned by Sovcomflot. Unlike Ofac, the Foreign Commonwealth & Development Office and National Crime Agency have targeted shipmanagers, not the registered owners.

 

* Lloyd’s List defines a tanker as part of the dark fleet if it is aged 15 years or over, anonymously owned and/or has a corporate structure designed to obfuscate beneficial ownership discovery, solely deployed in sanctioned oil trades, and engaged in one or more of the deceptive shipping practices outlined by US State Department guidance issued in May 2020. The figures exclude tankers tracked to government-controlled shipping entities such as Russia’s Sovcomflot, or Iran’s National Iranian Tanker Co, and those already sanctioned. Download our explainer on the different risk profiles of the dark fleet here.

Lloyd’s List Intelligence Seasearcher subscribers can add the Lloyd’s List dark fleet to their watchlists here.

 

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