BAKU, July 19 — The European Union has added 18 foreign companies to its latest sanctions list targeting Russia — including an Azerbaijani firm registered less than a year ago.
As reported by Teleqraf, Aqua Fleet Management, a company involved in oil transportation, was established in August 2024 with a modest charter capital of just 100 manats (approximately $60).
The sole registered owner of the company is Kakhaber Iremadze, with the official business address listed as: Apartment 25, Building 5, Sülh Street, Sumgayit, Azerbaijan.
Aqua Fleet Management reportedly operates two oil tankers — Saurri and Ederra — along with a cargo vessel, Temirro. All three vessels are said to operate in international waters under the flag of Cameroon.
The company’s inclusion in the EU sanctions list stems from alleged involvement in helping circumvent trade restrictions related to Russian oil. The European Commission has not publicly disclosed detailed evidence but emphasized that all listed entities are believed to be “materially supporting” Russia’s war effort or contributing to sanctions evasion.
The Azerbaijani government has yet to comment on the development.