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Peninsula Petroleum Limited, which refuels and services tankers with Russian oil, is included in the list of international sponsors of the war

21.04.2023
Peninsula Petroleum Limited, which refuels and services tankers with Russian oil, is included in the list of international sponsors of the war
The National Agency on Corruption Prevention (NACP) included the world's leading ship fuel supply company, the Irish Peninsula Petroleum Limited, on the list of international war sponsors. As long as Russia, earning from sea oil exports, supports its economy, Peninsula Petroleum Limited continues to receive excess profits and deliver fuel for ships that transport this Russian oil. Large tankers leave the Russian Federation daily through the Baltic Sea, despite the fact that the European Union imposed an embargo on the import of Russian oil after the full-scale invasion of Ukraine. These vessels usually stop at the port of Skau in Northern Denmark to refuel before heading to end customers outside Europe. Peninsula Petroleum operates as a global supplier of bunker fuel, making over 25,000 deliveries per year and offering fuel resale services, technical expertise, fleet management and yachting services. Despite the fact that several companies that supply bunker fuel have ceased cooperation with the companies of the aggressor country, Peninsula Petroleum consciously continues to supply fuel to tankers in Danish waters when they return or go to one of the main oil ports located in the north-west of the Russian Federation. This allows the company to set higher prices when selling fuel to tankers transporting Russian oil. A review of AIS (Automatic Identification System) data in the area shows that Peninsula Petroleum supplies large quantities of fuel to tankers bound for and from the terrorist state every week. The company says that the sanctions were never intended to completely cut off Russian oil from the global market, as this would raise oil prices and harm the global economy. So, while Russia is looking for ways to support its economy, weakened by the effectiveness of global sanctions, Peninsula Petroleum Limited directly facilitates the transportation and sale of Russian oil through the refueling and maintenance of its tankers. This demonstrates the company's support and sponsorship of the war. The inclusion of companies in the list of international sponsors of war is a powerful reputational tool. The list already includes 22 companies that support the Russian Federation's war against our country. All are already listed in the World-Check database, a database of high-risk individuals and organizations used worldwide to identify and manage financial, regulatory and reputational risks. All global companies and investors see that it is dangerous and risky to cooperate with such companies. The role of NACP in sanctions policy is defined in the Individual Sanctions Roadmap developed by the Stanford International Working Group on Russian Sanctions.

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