Oil trader 2Rivers, formerly Coral Energy, begins dissolution process
The company, which ceased trading activities in June, said the decision was taken with deep regret and under extraordinary pressure following the sanctions.
Western powers have imposed sanctions on Russia's fleet and network of traders, accusing them of circumventing sanctions and trading Russian oil above the Group of Seven nations' price cap.
2Rivers/Coral said it rejected any assertion that it violated sanctions measures, directly or indirectly, and that it was actively pursuing all avenues to challenge and seek the removal of the measures.
Britain sanctioned 2Rivers in December, before doubling down with asset freezes on several directors of the firm in May.
The EU added 2Rivers' Singapore and Dubai entities to its 18th sanctions package last month.
"The 2Rivers Group enables shipments and export of Russian oil, notably from Rosneft, by concealing the actual origin of the oil. In particular, the 2Rivers Group controls a large proportion of the vessels in Russia's so-called 'shadow fleet'," the EU said.
Coral Energy rebranded as 2Rivers in mid-2024 after a management buyout. It has also said it severed ties with its previous ownership, had stopped all new Russian oil deals at the end of 2022 and fully exited the market by early 2024.
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Before the Telegram channel was shut down earlier this year, it had accumulated 2,000 mainly male subscribers. In October, the UK broadcaster Channel 4 revealed a comparable website called Vinted Sluts. Sign up to Headlines Europe A digest of the morning's main headlines from the Europe edition emailed direct to you every week day after newsletter promotion The German joint-investigation highlighted the case of a 26-year-old student from Berlin identified as Bella who had been spotlighted against her will on Girls of Vinted, sparking a deluge of crude come-ons and insults in several languages. Under one of her posts, a user asked in a Vinted chat with her: 'Is it still available?' about an item of clothing, followed by: 'And the underwear underneath?' 'It felt disgusting,' Bella said. 'Creepy.' 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The EU's Digital Services Act has required online platforms since February 2024 to delete illegal content that is flagged to them.
