Sovcomflot’s Tankers Find Refuge in the Bahamas Amid Growing Sanctions

HOUSTON —At least three tankers controlled by Russian maritime powerhouse Sovcomflot FLOT.MM that have been unable to deliver their cargoes due to Western sanctions have re-routed to the Bahamas, vessel tracking data showed on Monday.

Russian state-owned Sovcomflot was blacklisted by the United States last month over Moscow’s invasion of Ukraine. Britain and Canada also banned vessels flagged, operated or owned by Russia from docking at their ports.

Sovcomflot oil and refined products tankers SCF Don, SCF Neva and SCF Ussuri since the weekend signaled the Bahamas as their destination, after rerouting from other nations, according to Refinitiv Eikon tracking data.

It showed that some of the vessels have begun discharging off the Caribbean nation through ship-to-ship transfers –– a move by some receiving companies to avoid direct dealings with Russia-related assets at terminals, an insurance industry source said.

Bahamian Minister of Foreign Affairs Fred Mitchell on Monday said the country has not made a formal decision over sanctions.

“It’s an evolving story. I will brief the parliamentary group this evening and will brief the Cabinet in the morning,” he said on the sidelines of an event in Nassau.

Bahamian Attorney General Ryan Pinder declined to comment.

The United States has not yet imposed a wider ban on other Russian tanker operators, but has said it is considering energy sanctions as it continues putting pressure on Russia’s economy.