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Russia Uses Sanctioned Ships to Export Its Oil Products

August 25, 2024

Data from the London Stock Exchange Group and market sources have revealed that Russia has begun using ships subject to European Union sanctions to export its oil products. According to data from the London Stock Exchange Group, one of the sanctioned ships, the Saga, which sails under the Barbados flag and was formerly known as the NS Spirit, was loaded with 33,000 tons of dark oil products on August 8 at the Russian port of Vysotsk on the Baltic Sea. Shipping data shows that another vessel, the Kavia, previously named the Hanna, is currently loading diesel fuel at the Baltic port of Primorsk, with its final destination still unknown. Market sources said that ships listed on the sanctions list are prohibited from entering the ports of EU member states but may be allowed to unload their cargo freely outside the EU. Earlier, at least two tankers on the Iran-related sanctions list carrying Russian fuel were unloaded at a Chinese port, and several other ships that the EU has sanctioned have had their names changed. In June, EU countries approved the fourteenth package of sanctions against Russia, adding 27 ships, including oil and oil products tankers and liquefied natural gas carriers, to the list of entities subject to sanctions since Russia’s invasion of Ukraine.