LONDON, 9 May 2025 – The United Kingdom has unveiled a new wave of sanctions targeting Russia, which includes asset freezes on several key figures from the oil trading firm formerly known as Coral Energy Group, now operating under the name 2Rivers Group.

This latest sanctions package coincides with the Joint Expeditionary Force (JEF) summit in Norway, where northern European leaders gathered to reinforce security cooperation. Among the measures, approximately 100 vessels linked to Russia’s so-called “shadow fleet” have also been blacklisted.

In a formal statement, the UK government named Ahmed Kerimov, Tahir Garayev, Anar Madatli, Talat Safarov, and Etibar Eyyub as individuals sanctioned for “deriving benefit from or supporting the Government of Russia” through their roles as directors of Coral Energy.

Coral Energy, founded in 2010 by Garayev, operated out of Dubai and Singapore. In 2024, the company underwent a management buyout led by Safarov, Kerimov, and Madatli, after which it rebranded as 2Rivers Group.

British authorities asserted that the company had been “conducting business in a sector of strategic importance to the Russian government — specifically, the Russian energy industry.”

The UK had already sanctioned 2Rivers Group in December 2024. At the time, the company expressed “deep disappointment” over the decision.