Oil exports from russia are the most important source of income for the regime of the aggressor country to finance the war against Ukraine. From February 2022 to November 22, 2024, russia earned almost 546 billion euros in revenues from oil exports (69% of all revenues from fossil fuel exports). In 2023, about a third of all tax revenues in russia came from the sale of oil and gas. 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 the CREA data for October 2024, russia's revenues from crude oil exported by sea amounted to 210 million euros per day, 83% 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 17% of the total value of russian oil exported in October.
Under the sanctions, russia has begun to build up its own shadow fleet of outdated tankers, which has no 'ties' with the G7 and the EU and can transport oil in violation of price caps. russia disguises its shadow activities at sea under the 'convenient' flags of third countries, operates at sea without proper insurance from the international club of insurers, uses complex schemes to conceal the owners of the shadow fleet, uses various deceptive tactics to conceal the origin of its cargo, creates threats to environmental safety with large-scale economic costs for coastal countries due to the growing threat of oil spills, does not use pilots to navigate difficult areas, etc.
The international public organization Greenpeace refers to the tanker as part of the shadow fleet of tankers that transport russian oil around the world and threaten the environment.
The tanker is affiliated with Gemini Marine Limited (under US sanctions), whose fleet transports oil products on behalf of Sepehr Energy Jahan Nama Pars Company (Sepehr Energy), controlled by the General Staff of the Iranian Armed Forces. Gemini Marine Limited's fleet also transported oil products for the network of sanctioned financial official Houthi Saeed al-Jamal, whose network provided tens of millions of dollars in illicit oil sales to support the financing of Houthi attacks on commercial shipping in the Red Sea.
russia has created its own shadow fleet of tankers, mostly made up of old tankers, many of which have experience operating under sanctions imposed on regimes such as Iran. Since the beginning of russia's full-scale invasion of Ukraine in February 2022, more than 90 vessels that previously helped Tehran export Iranian oil are now helping russia transport russian oil/oil products. In May 2022, UANI predicted that russia would use a 'ghost armada' to ensure that excess profits from oil exports flow to its Chinese partner, in particular.
'Shadow fleet' of the russian federation continues to provide multibillion-dollar revenues for the kremlin bypassing sanctions, disguising its activities under the flags of third countries, using complex schemes to conceal owners, and poses significant threats to environmental safety with significant economic costs for coastal countries and/or the international community due to the outdated and inadequate insurance of shadow fleet tankers.
During the period of the G7 and EU oil embargo on russian oil, the tanker has been involved in the export of russian oil from russian ports in the Baltic, black seas, and the Pacific region to third countries, and in dark activities at sea near Indonesia, China, russia, and South Korea with the AIS signal turned off. The tanker was also used to transport sanctioned Iranian oil.