VIKTOR BAKAEV

The vessel is involved in the transportation of russian crude oil during the period of the G7 and EU oil embargo on russian oil and the price cap policy at $60 per barrel of russian oil. The tanker was transporting russian Urals crude oil at a price of more than $70 after the price-cap policy came into effect.
The vessel is owned by Streymoy shipping LTD, the manager of South Fleet LLC, affiliated with the sanctioned Sovcomflot PJSC, the largest state-owned shipping company in russia for the maintenance and provision of marine hydrocarbon extraction, transportation of russian oil, petroleum products, and liquefied gas. The main charterers of Sovcomflot vessels are the largest oil and gas companies and traders of russia. Sovcomflot participates in the maintenance of large oil and gas projects in russia: Sakhalin-1, Sakhalin-2, Varandey, Pryrazlomnoye, Novyy Port, Yamal LNG, others.
In December 2023, USA imposed sanctions on the vessel for non-compliance with the price-cap policy on russian crude oil.
On November 25, 2024, United Kingdom imposed sanctions on a tanker in connection with the transportation of russian oil/oil products from the russian federation to a third country.
On February 21, 2025, Canada imposed sanctions on the vessel.
On February 24, March 04, 2025 EU and Switzerland respectively imposed sanctions on the tanker for promoting or supporting actions/policies aimed at the exploitation, development or expansion of the energy sector in russia, including energy infrastructure (sanctions will enter into force on February 25, 2025).