Among the companies to which sanctions have been applied:
GALLION NAVIGATION INCORPORATED
Provide additional information
Full name of legal entity
GALLION NAVIGATION INCORPORATED

Abbreviated name of the legal entity
GALLION NAVIGATION INCORPORATED

Tax Number

Registration number

Country
United Arab Emirates

Address
United Arab Emirates (Unit 27610-001, Building A1, IFZA Business Park, Dubai Silicon Oasis, Dubai) / Liberia (80 Broad Street, Monrovia)

Reasons
Affiliated with 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 gas against the background of sanctions restrictions on russia after its full-scale invasion of Ukraine. 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 started a practice of constant ‘juggling’ (transferring) of 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 natural gas under western sanctions.



Sanction Jurisdictions
United States of America
Canada
Switzerland
EU
Great Britain
Australia
New Zealand
Japan
Ukraine
Date of entry and reference to the document
The country has not yet applied sanctions
Marine vessels
Kareliya
Vessel name
Kareliya
IMO
9306782
Flag (Current)
russian federation
Vessel Type
Crude Oil Tanker
Category
Transportation of fossil fuels
 Violation of the price cap
The vessel is involved in the transportation of russian crude oil during the G7 and EU oil embargo and in violation of the price cap policy of $60 per barrel of russian oil. The vessel is owned by Gallion Navigation Inc, a manager of the russian company Invest Fleet LLC, controlled by the sanctioned Sovcomflot PJSC, 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 natural gas under Western sanctions. In November 2023, USA imposed sanctions on three vessels (including "NS Century" (current name "Karelia")) 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 effect.
War & Sanctions 2024