BRUSSELS — The European Union is discussing whether to sanction Dubai-based shipping company Sun Ship Management Ltd., which is suspected of helping Russia circumvent sanctions on its oil exports, three diplomats who asked not to be named said. On condition told Politico̵7;s Brussels Playbook.
Diplomats said the company was believed to have taken possession of a fleet of Russian oil tankers that are no longer allowed to ship oil because of international sanctions on EU and Russian-owned entities. Under Sun’s ownership, the tankers have been able to continue operating.
Russian state-owned company Sovcom Float is believed to have moved its entire fleet of 92 ships to SUN in April 2022 to circumvent EU and international sanctions, two diplomats said. The company, which previously had the same name as SCF Management Services Sovcomflot, was later renamed SUN Ship Management.
Two EU diplomats said the company has become one of the main transporters of Russian oil to countries including India and Cuba, providing a major source of wealth for Russia.
Sun Ship Management did not immediately respond to phone calls and a request for comment.
A Website The company is said to represent that it is “owned by UAE and Russian nationals and managed by multinational companies” and owns, manages and operates 92 Liberian and Cyprus fleets, “crude oil, LNG And exceeds the capacity of chemical vessels.” 150,000 tonnes DWT.”