US slaps sweeping sanctions on major Russian oil companies, shadow fleet, and key figures from The Insider’s investigations

The U.S. Department of the Treasury has introduced a comprehensive sanctions package aimed at curbing Russia’s revenues from oil exports. The sanctions cover 183 oil tankers, several companies insuring them, multiple government officials, and CEOs of various oil refining enterprises. They also target Russia’s largest oil producers, including Gazprom Neft, Surgutneftegaz, RusGazAlliance, and Gazprom Shelf Project. The Insider has obtained access to the relevant documentation.

Notably, the sanctions extend to individuals and entities featured in The Insider’s investigations. These include Denis Deryushkin, along with Latvian citizen Alexey Kholyavin. The two men are affiliated with the UAE-registered company Black Pearl Energy Trading LLC, and also with Conmar Maritime DMCC, an affiliate of Black Pearl. The U.S. Treasury’s explanation for the sanctions cites The Insider’s findings, which revealed that Black Pearl facilitated the sale of Russian oil to buyers at prices exceeding the Western price cap of $60 per barrel.

For more details on how a Latvian citizen played a key role in facilitating the sale of Russian oil, see The Insider’s investigation.

Oil and the Shadow Fleet

The U.S. Department of the Treasury has introduced a sweeping sanctions package targeting 183 vessels, primarily oil tankers that are part of Russia’s shadow fleet. Some of the vessels sanctioned today were involved in transporting not only sanctioned Russian oil, but also sanctioned Iranian oil. The list includes ships flying the flags of Russia, Panama, Barbados, and Gabon.

Sanctions were also imposed on the insurance companies Ingosstrakh and AlfaStrakhovanie Group, which are alleged to have provided insurance services to Russian vessels.

Additionally, the sanctions target oil traders involved in the supply and sale of Russian oil. According to the U.S. Treasury, these traders are often registered in high-risk jurisdictions, operating through opaque corporate structures and employing personnel linked to Russia. Many of these companies were established shortly after the start of Russia’s full-scale invasion of Ukraine. Within months of their creation, they began transporting Russian oil worth hundreds of millions of dollars.

Companies

Sanctions have been imposed on Russia’s largest oil companies, along with over 30 Russian oilfield service providers, which facilitate oil extraction, provide equipment, and supply specialists. The list includes Gazprom Neft and Surgutneftegaz. The UK has also introduced sanctions against these companies, according to the U.S. Treasury.

Government officials and CEOs

The new sanctions also target Russian government officials and executives of energy companies, including the CEOs of several Russian oil producers:

• Yusuf Alekperov – Founder and owner of the Russian oilfield service company Welltech LLC.
• Pyotr Bobylev – Head of the Coal Industry Development Department at the Ministry of Energy of the Russian Federation.
• Vladimir Chernov – Director of Vostok Oil (a Rosneft subsidiary).
• Alexander Dyukov – Chairman of the Board of Gazprom Neft. The Insider previously reported that Dyukov arranged for his family to own luxury real estate on the French Riviera and continues to travel there freely, as he is not subject to EU sanctions.
• Sergey Kudryashov – CEO of Zarubezhneft JSC.
• Nail Maganov – CEO of Tatneft.
• Roman Marshavin – Deputy Minister at the Ministry of Energy of the Russian Federation.
• Vadim Pavlov – Director of the Special Projects Department at the Ministry of Energy of the Russian Federation. Pavlov oversees energy projects in Russian-occupied territories of Ukraine.
• Dmitry Semyonov – Director of the International Cooperation Department at the Ministry of Energy of the Russian Federation.
• Eduard Sheremetyev – Deputy Minister of Energy.
• Artem Verkh – Director of the Gas Industry Development Department at the Ministry of Energy.
• Vadim Vorobyov – CEO of Lukoil, Russia's largest private oil company.
• Vladimir Bogdanov – CEO of Surgutneftegaz.