The Dubai shipping company was sanctioned for its ties to the russian federation

The Dubai company SUN Ship Management turned out to be a branch of Sovcomflot. The company is the formal owner of the “shadow” fleet of russia.

The shipping company SUN Ship Management fell under the 10th package of EU sanctions adopted on February 24. Restrictions were also imposed on the “Russian National Reinsurance Company” (RNPC) and Atomflot, which manages the russian icebreaker fleet, Splash reports.

“Dubai has become a hub for companies that control “shadow” tankers. Sanctions against Sun Ship Management will undoubtedly create additional obstacles for Russia to export its barrels,” said the latest BRS report.

“Sovcomflot” created Sun Ship Management in Dubai back in 2012. In April 2022, Sovcomflot handed over 92 vessels — in particular, tankers and gas carriers — to its subsidiary. Soon, SUN Ship Management became one of the main suppliers of Rosneft. The main beneficiaries of SUN Ship Management are citizens of the UAE and russia. The company’s tankers transport oil under the flags of Liberia and Cyprus.