Despite the Trump Administration’s ongoing efforts to negotiate an end to the war in Ukraine, the European Union (EU) launched further sanctions on Russia’s energy sector this week, targeting, amongst others, Dubai-based Eiger Shipping DMCC. The move is particularly significant as Eiger is the shipping and chartering arm of Litasco Middle East (LME) – the trading house of Russian giant Lukoil which has emerged as one of Dubai’s largest trading firms since 2022 (MEES, 23 September 2022). Lukoil is Russia’s second largest oil producer.
“Eiger Shipping DMCC has enabled the procurement of numerous vessels forming part of the so-called ‘shadow fleet’,” the EU announced in its 17th sanctions package on 20 May. “Those vessels have transported oil from Russia while turning off or manipulating their AIS transponders, while not maintaining adequate liability insurance or other financial security, and while carrying out unsafe maritime operations.” (CONTINUED - 615 WORDS)
