Baku: Azerbaijan Caspian Shipping Company CJSC (ASCO) is preparing to appeal sanctions imposed on five of its vessels in 2025 due to allegations of transporting Russian crude oil.
According to Azeri-Press News Agency, two of these vessels are directly owned by ASCO, while the remaining three are under a joint venture with SA Maritime AFZECO. The vessels have been added to the sanctions lists by the European Union, the United Kingdom, and Canada.
ASCO’s management has initiated a legal review to challenge the sanctions, aiming to demonstrate compliance with international regulations. The appeal process’s outcome and timeline remain uncertain, with potential implications for ASCO’s operational and financial stability.
The company is actively monitoring developments and plans to adjust its strategy based on the appeal’s progress.