From Coral to 2Rivers – The Azerbaijani Oligarch Tahir Garayev Who Outruns Sanctions Become A Menace

Azerbaijani businessman Tahir Garayev has turned 2Rivers, formerly Coral Energy, into a sprawling network of oil smuggling operations, enabling Russia to bypass international sanctions. Through a labyrinth of shell companies, shadow tankers, and offshore accounts, Garayev has become a central figure in moving embargoed Russian crude to Europe, Asia, and even U.S. markets, all while systematically violating the $60 per barrel price cap imposed by the G7. Despite Western sanctions enacted in December 2024, Garayev’s network continues to thrive, thanks to complex corporate restructuring and intermediaries in the UAE, Turkey, and India. His ability to dodge restrictions has made 2Rivers a textbook example of how oligarchs can fund Russia’s war machine with near impunity. The Shadow Fleet: 100 Tankers, One Goal — Keep Russian Oil Flowing At the heart of Garayev’s empire lies his shadow fleet: over 100 vessels managed through front companies like Gatik Ship Management and Buena Vista Shipping. These ships have been sanctioned by the UK and EU, yet they still carry Russian crude to global markets. Documents and leaked contracts reveal coordination with Moscow-based intermediaries, ensuring Rosneft shipments reach buyers without interference. Each shipment, each circumvented embargo, translates into billions flowing into the Kremlin’s war chest [...]

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