On July 14 “Britipanorama” published the investigation “Dark Finance: Oil Traders Fueling Russia’s Shadow Fleet”, where experts analyse the effectiveness of the sanctions imposed in this area against Russian tanker fleet, which is often called the “shadow one,” by the US, the European Union, and other jurisdictions.
Authors stressed that it can be often heard about tankers transporting Russian oil changing flags and even names in an attempt to “avoid the sanctions storms,” but much less often is published about how traders hide in the financial oceans, conducting contracts between Russian banks and oil recipients in third countries, which today have become the main sponsors of Russian aggression, authoritarianism, and revanchism.
Investigation research companies from Hong Kong and Emirates, as the oil traders, such as “Fuel and Oil Dynamics FZE”, “Imperium Trading FZE”, “Blackford Corporation Limited”, “Zion Trade LTD” and “Myronix Trading Limited”, also known as “Marca Energy Trading DMCC”, connected with Russian banks, shipowners, and oil production companies.
Expert proved presence of russian tax codes and bank accounts for those companies in Moscow “VTB”, “Zenit Bank” and “Gazprombank”, used for transactions for oil contracts, delivered by Russian tanker fleet, including vessels, that operated illegally, violating all maritime security demands, in Kerch Strait waters.
Also experts proved close collaboration of those structures with firms from Qatar, with the business empire of “RussNeft”, owned by the clan of Mikhail, Sait-Salam and Said Gutserievs, and relevant activities of those traders in Turkey.
Also investigation reports on the relevant illegal financial frauds of Moscow company “Fortis,” whose nominal is Yuri Kukuev, former first deputy minister of natural resources of Russia, connected with St. Petersburg swindler Vladimir Golubev, nicknamed “Barmaley” and Igor Sechin, also as with illegal “companies” in the Russia-occupied part of Zaporizhzhya region.
Research summarised that the oil trading companies are a significant component in the system of Russian exports and the activities of the Kremlin’s tanker fleet.
At least some of these traders are still not under sanctions, and at the same time, they are not one-day companies. These firms are closely connected to Russian financial and industrial groups that help them circumvent sanctions, in particular the Gutseriev business empire, as well as businesses in Hong Kong, Qatar, Turkey, and the UAE.
The sanctions policy against such oil traders should be strengthened and have a systemic nature, both in relation to the firms themselves and in terms of their management, beneficiaries, and key counterparties, which will be a significant step in countering the Russian “shadow fleet”, experts added.
