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Sanctions Sovcomflot Tankers and Gas

Sovcomflot transfers tankers to new non-sanctioned entity

SUN Ship Management, the UAE-based technical management subsidiary of state-controlled tanker owner Sovcomflot, has started shifting vessels into a newly created Dubai-based entity, Oil Tankers (SCF) Management

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A total of 18 vessels have been transferred over the past month by Sovcomflot to a newly created company based in Dubai. While the move effectively creates a non-sanctioned vehicle, the transfers are part of a wider internal reorganisation of the Russian tanker giant as it adjusts to long-term economic restrictions on its operations

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