The sanctions on Azerbaijani companies and individuals come as the country is deepening energy ties with the European Union.
A tanker sanctioned by the U.K. for shipping oil on behalf of Russia is owned by the government of Azerbaijan, corporate documents show.
Targeting a state-owned tanker was a warning to Azerbaijan at a time when the oil-rich country has been striking energy deals with the European Union, according to Maximilan Hess, an analyst with the Foreign Policy Research Institute, a U.S. think tank.
“It is a clear warning shot across the bow that further Azerbaijani-sponsored efforts to support Russian sanctions evasion carries major risks to Azerbaijan’s diplomatic position and potentially wider economy,” Hess told OCCRP.
The sweeping sanctions package announced by the U.K. on May 9 also included five Azerbaijani citizens accused of trading Russian oil, as well as two companies.
The Zangazur was listed among the nearly 100 vessels sanctioned, although the U.K. did not specify who owned any of them.
It turns out that the Zangazur is owned by the Azerbaijan Caspian Shipping Company, according to an announcement posted on the company’s website. Financial statements for Caspian Shipping show that the government of Azerbaijan owns 100 percent of the company’s shares.
Caspian Shipping did not reply to a request for comment came from OCCRP.
You can read further information here.
Hungary Objects to Proposed EU Sanctions on Lukoil Dubai Unit
