48 companies were involved in a scheme to conceal the origin of oil exported by Rosneft to help circumvent sanctions restrictions, the Financial Times reports. According to the publication, the network was established after analyzing technical traces – all structures used the same email server, which indicated their interconnectedness.
The scheme was in operation before the introduction of US sanctions against Rosneft in October 2025. As of November 2024, approximately 80% of the company’s oil passed through the intermediary network. As the FT notes, the large number of firms is explained by their short life cycle – they worked for about six months, after which they ceased operations, which made it difficult to control and sanction checks.
One of the central figures in the scheme is called Azerbaijani businessman Etibar Eyyub, who last year was sanctioned by the EU for allegedly controlling the companies Coral and Nord Axis, which were also involved in helping Rosneft.
Some of the companies bought oil from Rosneft, after which other participants in the chain supplied it to Asian markets, in particular to China and India. Sometimes transportation was organized through intermediary structures, among which companies from the UAE are mentioned. At the same time, the oil grade was often labeled as an “export blend,” which made it possible to hide the true source of the raw materials.
European Union officials said that the compiled list of companies could become the basis for new sanctions against Russia.
