The vessel is involved in the transportation of russian crude oil during the G7 and EU oil embargo and violated the price cap policy of $60 per barrel of russian oil. Since January 2024, the vessel has been owned and managed by the russian company South Fleet LLC, controlled by the sanctioned PJSC Sovcomflot, the largest state-owned shipping company in russia, a key company for servicing and supporting offshore hydrocarbon production, transportation of russian oil, oil products, and liquefied natural gas amid sanctions restrictions on russia after its full-scale invasion of Ukraine. The services provided by Sovcomflot are a significant source of income for the russian federation, as more than 70% of russia's revenues come from the sale of energy, which allows it to finance its war against Ukraine. The main charterers of Sovcomflot vessels are the largest oil and gas companies and traders in russia. "Sovcomflot is involved in servicing major oil and gas projects in russia: "Sakhalin-1, Sakhalin-2, Varandey, Prirazlomnoye, Novy Port, Yamal LNG, and others. Prior to russia's full-scale invasion of Ukraine, the company's fleet consisted of about 145 vessels. After the sanctions were imposed, Sovcomflot transferred dozens of vessels to the ownership of companies it had set up, including in foreign jurisdictions, in order to circumvent them, and began the practice of constantly "juggling" (transferring) vessels to related companies. According to expert estimates, the tankers transferred by Sovcomflot to related companies are part of the so-called "shadow tanker fleet" of the russian federation to continue selling russian oil, oil products and liquefied gas under Western sanctions. The previous owner of the "Ligovsky Prospect" tanker is the sanctioned Progress shipping company Limited (UAE), affiliated with PJSC Sovcomflot. The change of the tanker's owner and manager to a russian shipping company took place after sanctions were imposed on Progress shipping company Limited (UAE). In November 2023, USA imposed sanctions on three vessels (including "Ligovsky Prospect") affiliated with the sanctioned company Sovcomflot, which were involved in the export of russian crude oil at a price of more than $60 per barrel after the price-cap policy for russian oil came into force.