In 2025, a total of five vessels owned by or jointly owned with the Azerbaijan Caspian Shipping Company CJSC (ASCO) were subjected to international sanctions over allegations of transporting Russian crude oil.
According to information obtained by APA-Economics, two of the vessels belong directly to ASCO, while three others are jointly owned through the company’s joint venture, SA Maritime AFZECO. As a result, they have been included in the sanctions lists imposed by the European Union, the United Kingdom, and Canada.
According to the information, ASCO’s management has launched a legal review into the matter and has prepared an appeal in order to prove that neither the company nor its joint venture violated the relevant sanctions requirements.
For now, the outcome and timeframe of the appeal process remain uncertain. It is reported that the sanctions could have a significant impact on ASCO’s and its joint venture’s future operations and financial situation.
It was also noted that ASCO is closely monitoring the situation and that appropriate measures will be taken depending on how the process develops.
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