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EU Imposes Sanctions on Indian Company in Crackdown on Russian Oil Shadow Fleet
- •The European Union has sanctioned Mumbai-based Vigor Marine Services LLP over its alleged connection to Russia's shadow fleet network.
- •The EU claims the company manages two ships involved in transporting Russian crude oil while bypassing international sanctions.
- •Allegations against the managed ships include inadequate insurance, ship-to-ship oil transfers at sea, and tampering with AIS tracking data.
- •UAE-based companies like HURUS TRADE FZE and DIS Logistics DMCC were also targeted for acting as intermediaries in transporting Russian oil to India.
- •The sanctions will freeze the assets of the listed entities, ban economic resources from being provided to them, and enforce travel bans.
Key Questions Answered
The EU sanctioned the Mumbai-based company because it allegedly manages two ships involved in transporting Russian crude oil and petroleum products while violating maritime safety rules, including lacking adequate insurance, conducting ship-to-ship transfers, and tampering with AIS tracking data.
The ships managed by the company face allegations of evading Western sanctions, lacking proper maritime insurance, performing ship-to-ship oil transfers at sea, and altering their Automatic Identification System (AIS) tracking data to conceal their actual activities.
Under the EU decision, all assets belonging to the listed entities will be frozen, direct or indirect provision of funds and economic resources to them will be banned, and individuals on the list will face EU travel restrictions.
