The russian shipping company Sovcomflot, which the media calls the operator of the so-called "shadow fleet", has significantly reduced its profit due to the effects of US sanctions.
This was reported by the German publication Deutsche Welle, citing the company's financial report.
Sovcomflot's net profit in 2024 amounted to USD 424 million, which is more than half the figure for 2023 (USD 943 million).
The figure, which is equal to the amount of profit before deducting expenses from interest, taxes, depreciation and amortization (EBITDA) for 2024, amounted to USD 1.04 billion. In 2023, Sovcomflot's EBITDA amounted to USD 1.4 billion.
In January 2025, the administration of former US President Joseph Biden included Sovcomflot in a large-scale package of sanctions aimed at russia's main source of income - trade in oil and petroleum products.
As Ukrainian News Agency earlier reported, more than 180 vessels of the "shadow fleet", oil traders, oilfield service providers and insurance companies were then subject to US sanctions.
As a reminder, Biden's "farewell sanctions" led to an increase in the cost of delivering russian oil, which leads to a decrease in the profits of oil traders from russia.
We also wrote that due to the latest sanctions of the former US administration, two enterprises for the production of liquefied natural gas in russia suspended their work.
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