The European Union is mulling new sanctions against Dubai-based shipping company SUN Ship Management Ltd (SUN), which is suspected of helping Russia with illicit oil shipments to circumvent EU’s restrictions on trade with Russia, according to Politico, a global nonpartisan politics and policy news organisation, reported on Tuesday (14 February).
Quoting three diplomats on condition of anonymity, the diplomats said the company was believed to have come into possession of a fleet of Russian oil tankers that were no longer allowed to ship oil because of EU and international sanctions on Russian-owned entities. Under SUN’s ownership, the tankers have been able to continue to operate.
According to the report, Russian state-owned company Sovcomflot is believed to have secretly transferred its entire fleet of 92 vessels in April 2022 to SUN, formerly known as SCF Management Services, in order to circumvent EU and international sanctions.
According to SUN’s website, SUN was established in 2012 as a multi-activity shipping company “owned by UAE and Russian nationals, and managed by multinationals.”
The website further elaborated SUN owns, manages and operates a fleet of 92 oil, crude oil, LNG and chemical vessels with a capacity of more than 150,000 tons DWT. In addition to being agents for leading shipping companies, we also offer a host of world class shipping services to our clients across the region.
Photo credit: Guillaume Périgois on Unsplash
Published: 20 February, 2023
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17 Mar 2023
