Over the past two years, a growing number of companies registered in Azerbaijan have taken over safety management for dozens of oil tankers linked to Russia’s shadow fleet, many of which are now under European Union and United Kingdom sanctions. These vessels have been targeted for transporting Russian crude oil and petroleum products, exports that have faced restrictions since Russia’s full-scale invasion of Ukraine in 2022.
According to corporate documents obtained by investigators, at least 31 International Safety Management (ISM) firms were set up in Azerbaijan between 2023 and 2025. These entities assumed responsibility for managing the safety compliance of tankers—both before and after they were sanctioned between 2024 and 2026. Data from Equasis, an international shipping safety monitoring body, confirms their involvement. Notably, seven of these firms have since transferred their managerial duties to other companies within the group of 31.
Industry experts note that ISM companies play a critical role in shipping operations, handling everything from safety protocols and crew management to maintenance and insurance coordination. Within the shadow fleet, these firms often provide a veneer of legitimacy that can obscure the true ownership or control of vessels. Owners of such companies tend to choose jurisdictions with limited transparency and weak disclosure rules, making it harder to trace who ultimately profits from or runs the ships.
This deliberate lack of transparency is a key element in reducing the risk of sanctions, according to analysts. The trend highlights how Azerbaijan has become a new hub for managing part of Russia’s shadow fleet, as Western countries intensify efforts to curb the flow of Russian oil revenues.