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WEI FENG

Person of interest
TypeVessel[sources]
NameWEI FENG[sources]
Build Date[sources]
Call Sign3E4609[sources]
DescriptionAfter Fractal Marine was sanctioned, DMCC tried to challenge the sanctions imposed by the United Kingdom but lost in court. After that, the company 're-signed' its fleet to other companies. · Against the backdrop of sanctions, russia is using a scheme of 'juggling' ships between related companies to conceal oil exports outside the price cap and other restrictions, as well as to hide the real owners of ships, and to ensure unimpeded transportation of fossil fuels by a 'shadow' fleet of outdated oil tankers, creates new companies for these purposes (in the UAE, Hong Kong, India, Turkey, Mauritius, Seychelles, and other jurisdictions) with non-transparent organizational and ownership structures. In order to implement this scheme, technical/commercial management and ship owners are constantly changing, and vessels are renamed with a change of flag, MMSI, call-sign, including for sanctioned vessels. Shadow fleet vessels operate under 'convenient flags', which allows them to conceal their true origin and avoid control by international organizations and insurance companies. · During the period of the G7 and EU oil embargo and the price-cap policy on russian oil, the tanker is involved in the export of oil to third countries from russian ports in the Baltic Sea, and resorts to the practice of turning off the AIS signal, conducting so-called 'dark activities' at sea. · Fractal Marine DMCC, together with Gatik Ship Management (India) and Radiating World Shipping Services LLC (UAE, under UK sanctions), are considered the leading operators of the russian shadow fleet, which in early 2023 assembled a fleet of about 90 tankers, 90% of which transported russian oil/oil products from the Baltic and black sea ports of russia to India, China, Turkey, the Middle East, Africa and South America. In less than a year, the $2 billion fleet of oil tankers assembled by Fractal and Gatik could transport more than 40 million barrels of oil/oil products. Fractal Marine DMCC, Gatik Ship Management and Radiating World Shipping Services LLC in the tanker market helped russian oil continue to circulate around the world and the russian government to generate multibillion-dollar revenues bypassing the sanctions. · Oil exports from russia are the most important source of income for the kremlin regime to finance the war against Ukraine. The tax on oil production collected by the russian federation in 2023 amounted to 8.9 trillion rubles, or 31% of total federal revenues. According to CREA data for September 2024, russia's revenues from crude oil exported by sea amounted to 192 million euros per day, 86% of the total volume of russian marine crude oil was transported by 'shadow' tankers, while tankers owned or insured in countries that impose price restrictions accounted for 14% of the total value of russian oil exported in September. · 7 more...[sources]
FlagPanama[sources]
IMO Number9388754[sources]
MMSI352002820[sources]
Past FlagsLiberia · Singapore[sources]
Previous nameOcean Avra · Ocean Trader[sources]
TypeCrude Oil Tanker[sources]
Source linkkse.ua · war-sanctions.gur.gov.ua · www.balticshipping.com · www.blackseanews.net · www.blackseanews.net · 4 more...[sources]
Last changeLast processedFirst seen

Descriptions

Transportation of fossil fuels

— Ukraine War and Sanctions,

Transporting oil in violation of other restrictions

— Ukraine War and Sanctions,

Relationships

Data sources

Ukraine War and Sanctions1,552

Sponsors and accomplices of Russian armed aggression against Ukraine.

Ukraine · GUR

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