UK Sanctions Target Azerbaijani Businessmen Linked to Russian Oil Trade
Five Azerbaijani citizens, including Tahir Garayev and Etibar Eyyub, have been placed under UK sanctions for their alleged involvement in facilitating the circumvention of international energy sanctions through the transportation of Russian oil. The individuals head Coral Energy Group, a Dubai-based trader suspected of using tankers designed to bypass sanctions.
According to a document from the UK Treasury, Coral Energy Group is involved in trading Russian hydrocarbons using tankers that avoid international sanctions. This has led to the addition of the individuals to the expanded sanctions list. Western experts note that since the beginning of the year, the number of Russia-linked shadow fleet vessels used to bypass energy sanctions has increased significantly.
Shadow Fleet Vessels on the Rise
Data from major maritime brokerage firm BRS shows that the number of such vessels has risen from 930 to 1,140 since December. This represents an increase of 18.2% in the global tanker fleet involved in shadow trading operations. A typical shadow tanker is over 20 years old, while a standard legal tanker is around 15.
Rosneft’s Business Partners
Rosneft’s business partners include, among others, businessmen from Azerbaijan. This has led to concerns about the political conflict between Moscow and Baku, which was highlighted by Igor Sechin, Rosneft’s head, in July when he appealed to the Kremlin leadership to resolve the conflict as quickly as possible.
Coral Energy’s History
Coral Energy was initially registered in Geneva and later moved its headquarters to Dubai. Some companies linked to 2Rivers are currently under US and UK sanctions. In addition, London imposed sanctions on Garayev, Eyyub, and nominal owners of 2Rivers — Azerbaijani citizens and UAE residents Talat Safarov, Ahmed Kerimov, and Anar Madatli.
Search Warrant Issued
In February last year, searches were conducted at the Moscow office of 2Rivers, and the Istanbul prosecutor’s office issued an arrest warrant for Garayev. This has led to concerns about the potential consequences for those involved in the Russian oil trade.
Original Article: Coral Energy, a Dubai-based trader led by Azerbaijani businessmen Tahir Garayev and Etibar Eyyub, moved Russian oil for Rosneft via shadow fleet • Медіа•Хаб — Hab