UK sanctions against Sovcomflot, the application of which was delayed until June 30, have come into force.
On June 30, the license to complete operations with Sovcomflot expired. The Office for the Implementation of Financial Sanctions (OFSI) of the UK Treasury did not publish information about its extension.
Sovcomflot was sanctioned by the kingdom on March 24. At that time, a whole group of Russian companies and banks was included in the OFSI lists. The sanctions include freezing the assets of these individuals and legal entities.
Later, the British regulator issued Sovcomflot a license to complete operations valid from March 29 to May 15. The license extended to Sovcomflot and its subsidiaries.
In May, OFSI extended the license for Sovcomflot until June 30, 2022.
Sovcomflot specializes in the transportation of liquefied gas, oil and oil products, and is one of the world’s largest tanker fleet operators. According to the latest data, the list of the fleet of Sovcomflot’s own and chartered vessels is 111 vessels. Sovcomflot’s free float is 15.6%, the quasi-treasury stake is about 1.6%. The Russian Federation owns 82.8%.