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Bunker Holding:  ‘No signs’ in alleged breach of EU sanctions post internal investigation

01 Feb 2021

The Bunker Holding Group has reiterated its innocence over alleged breaches of EU sanctions and is looking forward to having its case heard in the fourth quarter (Q4) of 2021.

“As we have maintained all along, our own thorough internal investigations have revealed no signs that anyone within Bunker Holding or Dan-Bunkering had any knowledge of the alleged breaches of EU sanctions,” a company spokesman told Singapore bunkering publication Manifold Times.

“We look forward to presenting our case and having the matter fully investigated at the upcoming trial.”

The Danish State Prosecutor for Serious Economic and International Crime (SØIK) has confirmed a hearing has been scheduled for 26 October to 14 December in its case against Dan-Bunkering and Bunker Holding’s group CEO Keld R. Demant over alleged EU sanction breaches, reported maritime news publication Shipping Watch.

SØIK in early November 2020 charged Bunker Holding and its subsidiary Dan- Bunkering, together with Demant, for selling jet fuel to Russian companies, following which, delivered the jet fuel to Syria. 

In the filing, SØIK alleged Dan-Bunkering sold about 172,000 metric tonnes of jet fuel to Russian companies over a series of 33 trades (total value USD 102.4 million) between 2015-2017, which is in violation of EU sanctions against Syria.

Earlier Manifold Times coverage regarding Bunker Holding/Dan-Bunkering’s alleged breaches of EU sanctions can be found below: 

Related: Experts: Bunker Holding alleged jet fuel sale significant to outcome of Syrian War
Related: Bunker Holding ‘surprised’ at fuel sale charge; maintains ‘full confidence’ in Group CEO
Related: Danish prosecutor proposes jail sentence for Bunker Holding Group CEO over jet fuel sale
Related: Bunker Holding & Dan Bunkering allegedly charged over EU sanctions violations
Related: Dan Bunkering ‘surprised’ SØIK has pressed charges over alleged EU sanction violations
Related: Dan-Bunkering: Everything has been investigated – the case should be closed
Related: Name ban on parties involved with Dan-Bunkering Syrian jet fuel deal lifted
Related: Dan-Bunkering Middelfart office searched by commercial crimes police
Related: Firm linked to alleged Dan-Bunkering Syrian war activities under sanction
Related: Update: Dan-Bunkering Syria jet fuel supply ops allegedly longer than thought
Related: Dan-Bunkering faces preliminary charges by SOIK with violation of EU Syria sanctions
Related: Investigations on Dan-Bunkering over alleged Syrian jet fuel deal start
Related: Danske Bank casts doubts on Dan-Bunkering reason for Syria investigation
Related: Danske Bank reported Dan-Bunkering to police in EU sanctions case
Related: Bunker company acknowledges flawed statement in EU sanctions case
Related: Unioil Supply dragged into Dan-Bunkering sanctions allegations
Related: Dan-Bunkering has not violated EU’s sanctions against Syria, it insists
Related: Nordea highlights stance on compliance after Dan-Bunkering discovery
Related: Danish media alleges Dan-Bunkering jet fuel deliveries during Syria war 

Photo credit:
Bunker Holding
Published: 1 February, 2021

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