Analysis finds UAE is the centre of ownership for formerly flagged or owned Russian ships

Nearly 900 maritime companies were set up in 2022 with ties to Russia that have helped to boost its oil exports to a post-invasion high despite western sanctions, according to new research.

The 864 new companies include 87 that contain 100 vessels that were previously Russian-owned or flagged, according to a paper by S&P Global Intelligence.

The research shows that more than a quarter, or 23, of those companies were set up in the United Arab Emirates, which has emerged as a major ship-owning alternative to the European Union.

Read more at tradewindsnews.com
Photo: tradewindsnews.com