“Shadow” Routes of the War: European Companies Detected in russian Maritime Schemes
4/10/2025
The Foreign Intelligence Service of Ukraine continues operations to stop the activities of vessels of the “shadow” fleet of russia and companies cooperating with moscow. It has been found out that the kremlin uses tankers owned by Greek citizens or operated by Greek companies to finance the war against Ukraine.
For example, the Greek company Latsco Marine Management Inc. is the beneficial owner and operator of the tankers HELLAS FIGHTER (IMO 9722625) and HELLAS AVATAR (IMO 9722613). The former, having been loaded on March 7 this year in the russian port of Primorsk, is heading for the Brazilian port of Suapi. The latter was also loaded in Primorsk on March 22, and is now moving along the coast of Portugal. Both vessels fly the flag of Malta – an EU member state, and are insured by The Swedish Club, a member of the P&I Club.
Besides, companies controlled by the well-known Greek shipowner Evangelos Marinakis, are also involved in the transportation of russian oil. Marinakis is already subject to journaliss’ attention in the context of his business’ involvement in the transportation of russian oil. Since March 21, the tanker AKRISIOS (IMO 9953456), flying the Greek flag, has been moving from the port of Primorsk to the Brazilian port of Itaki. The beneficial owner of the tanker is Capital Ship Management Corp., and the operator is Capital Maritime&Trading Corp. The vessel is insured by Steamship Mutual.
At the same time, right now, the tanker AGIOS GERASIMOS (IMO 9693056), owned and operated by the Greek company Eastern Mediterranean maritime Ltd, is sailing from Prymorsk under Malta’s flag. The vessel is insured by the British insurer NorthStandard P&I Association. It has to have delivered oil to the Indian port of Mundra by April 30.
Another participant in this scheme is the tanker PORTOFINO (IMO 9564671), owned and operated by the Greek company Alberta Shipmanagement Ltd., which since March 18 has been sailing to the Turkish port of Marmara-Ereglisi. During the year, this vessel carried out 35 STS operations and repeatedly turned off the AIS system. Despite the russian origin of the oil, the tanker was insured by the UK P&I Club.
All tankers have valid P&I Clubs’ insurance, renewed in February this year and valid until 2026. This allows them to freely enter international ports, have the ship serviced and continue their commercial activity, which contributes to the rf’s budget.
By providing insurance to the vessels of the “shadow” fleet of the rf, P&I Clubs help russia to receive profits from oil and gas exports, and thus indirectly contribute to the continuation of its armed aggression against Ukraine.
Tanker transportation serving russian exports under the EU flags or by ships owned by companies registered in Europe will soon be suspended. In an interview with Fox News, United State’s Special Envoy for Ukraine K. Kellogg acknowledged the importance of fighting russia’s “shadow” fleet. The White House increasingly realizes that the kremlin, as always, is playing a foul game. Therefore, another blow by Western countries led by the United States to the russian oil industry is a matter of the near future.
Companies in Europe that do business with russia will definitely face a choice: to give up cooperation with moscow or to share the responsibility for actually sponsoring putin’s war machine that is waging a war of aggression against Ukraine.
Read more:
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